Daily Digest

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Daily Digest 10/28 - NYC Subways Overrun With Homeless, Evacuation Preparedness

Monday, October 28, 2013, 11:00 AM

Economy

Spray foam insulation can make some homes unlivable (westcoastjan)

"It can be kind of a game of Russian roulette,” says Bernie Bloom, a Maryland-based indoor air quality scientist and a specialist in spray foam problems. The full investigation, Renovation Horror Story, airs Friday at 8pm (8:30pm NT) on CBC Television.

Andrew Maguire: Whistleblower & Independent London Metals Trader (pinecarr)

Andrew is an accomplished veteran of the markets. He has 30 years trading experience, both as an institutional and independent trader, the last 19 years of which have been as a metals specialist.

Andrew is the driving force behind metals analysis and the MetalsTrades service for Coghlan Capital.

Dr. Paul Craig Roberts Interview (pinecarr)

From 1975 to 1978, Roberts served on the congressional staff. As economic counsel to Congressman Jack Kemp he drafted the Kemp-Roth bill (which became the Economic Recovery Tax Act of 1981) and played a leading role in developing bipartisan support for a supply-side economic policy. His influential 1978 article for Harper's, while economic counsel to Senator Orrin Hatch, had Wall Street Journal editor Robert L. Bartley give him an editorial slot, which he had until 1980. He was a senior fellow in political economy at the Center for Strategic and International Studies, then part of Georgetown University.

The Size Of The Problem (Thomas C.)

The Tea Party was formed to prevent runaway inflation and an economic depression resulting from a crumbling currency and devalued debt. It appears by the absolute and universal vilification of its members by both Republicans and Democrats that U.S. citizens are not yet ready to undergo the pain associated with the removal of our pernicious addictions.

Here Is The Monetary System Ron Paul Proposes (Herman J.)

It would not be flawless because people have the tendency to break the rules, but happens when a government has the worldwide fiat currency and breaks the rules for 40 years? That is such gross distortion, and that’s why the imbalances are so great right now of the debt and the debt system and all the malinvestment. They did not prevent the correction, they just propped it up in 09′. So the correction didn’t occur, and if you want the system to continue you really have to allow the correction to happen. That, of course, is why we haven’t had a recovery.

Jim Rickards explains how a gold standard would be beneficial (Herman J.)

So, a better system would be, you know, gold is money. I know it’s a little inconvenient for people to walk around with gold coins. I know people use to do that. There’s nothing wrong with having a paper representation of the gold, but it has to be tantamount to a warehouse receipt. As you described, it has to be something where I can walk into any treasury or any bank or maybe a post office or whatever and get a fixed amount of gold, no questions asked. That’s a real gold standard where the money is backed up by gold.

How Gold ETF Demand Could Lift The Gold Price Dramatically Higher (Taki T.)

Coincidentally, these trends tend to occur with negative gold forward lease rates (GOFO, gold forward rates). A negative GOFO rate implies that gold investors pay a higher gold price over the next three months than in the future. This “backwardation” is not common in precious metals. Although we had stated before that there is no gold (significant) backwardation based on the difference between gold spot and futures prices, it appears it is occuring now specifically in 400 oz good delivery London bullion bars.

A black box in your car? Some see a source of tax revenue (Thomas C.)

And while Congress can't agree on whether to proceed, several states are not waiting. They are exploring how, over the next decade, they can move to a system in which drivers pay per mile of road they roll over. Thousands of motorists have already taken the black boxes, some of which have GPS monitoring, for a test drive.

Beg Apple: Subways Overrun With Homeless (Thomas C.)

The NYPD said panhandler/peddler arrests in the subway have increased over the past year, with 409 pinched so far in 2013 versus 395 in 2012. But those numbers pale in comparison to 2011, when it was reported that in a six-month span that year, a whopping 930 panhandlers and peddlers — the two are not separated in the data — were arrested.

The Bangladesh poor selling organs to pay debts (westcoastjan)

The idea of selling organs is not new and those in poverty throughout South Asia have resorted to it for years. But what is less known, is that more people are turning to the trade because of feeling under pressure to pay back microcredit lenders.

Detroit Pensioners Face Miserable 16 Cent On The Dollar Recovery (pinecarr)

However, as Citi's Matt King recent showed, when it comes to stepwise, quantum leap repricings of widely held credits, the revelation is usually a very painful, sudden and very dramatic one. This can be seen nowhere better than in the default of Lehman brothers, where while the firm's equity was slow to admit defeat it was nothing in comparison to the abject case study in denial that the Lehman bonds put in. However, as can be seen in the chart below, when it finally came, and when bondholders realized they are screwed the morning of Monday, Septembr 15 when the Lehman bankruptcy filing was fact, the move from 80 cents on the dollar to under 10 cents took place in a heartbeat.

Evacuation Preparedness (outlive)

This Article is intended to outline the necessities for living in a shelter situation (specifically Red Cross shelters) as it is the most probable outcome in the event of a major disaster. These recommendations are based on government and NGO recommendations and personal experience/knowledge, and these recommendations are also based on the assumption of a necessary, speedy evacuation from home. This Article does not cover in-home survival or evacuation while away from home. Additionally, this Article does not detail all the complexities of FEMA, home/rental insurance, all the nonprofits that help in disaster recovery, city shelters, etc.

When does the law apply to the public sector? (westcoastjan)

While criticizing a lack of fairness — and she should, in my view, have an opportunity to explain herself before being suspended or fired — her counsel states that “Asking her to defend herself on the floor of the Senate on the subject of hundreds of contentious expenses is unfair.” But, isn’t that precisely the due process and full public hearing she has said she desires?

Gold & Silver

Click to read the Gold & Silver Digest: 10/26/13

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

5 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
The problem with (affordable) helium

If I had had space, I would have included a subtitle for this piece as follows: Things do not have to run out to become unavailable.

http://www.resilience.org/stories/2013-10-27/the-problem-with-affordable-helium

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1617
An epic rant

An epic rant from Jim Quinn at The Burning Platform.  I didn't write it, but it felt good to get that all off of MY chest. angry

http://www.theburningplatform.com/2013/10/27/culture-of-ignorance-part-one/

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
Helium-filled Mylar Balloons... For A Dollar

Grocery stores and florists have been selling helium balloons at relatively high prices lately. A few of our local groceries are selling Mylar balloons (which last for as long as a week to two weeks - compared to a day or few for regular rubber balloons) for about $4 each.

Then my wife discovered the local dollar store sold them, too. They sell them for only a dollar each. Even happy face ones and little Elmo ones.

Enjoy 'em while they last!

Poet

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
The WSJ Comes to Town.

Listening to ABC Drive just now I had the pleasure of absorbing the views of a top Wall Street Journalist who has come to come to town for a conference. I noted some declarative statements that emerged in breathless assertiveness.

  • Feigned Outrage at the US's spying on other governments is purely for the optics of domestic politicking.
  • The NSA is doing God's work. A bevy of top Washington officials think so. QED. The citizens of the USA have a lot of freedom from snooping. And Google knows more about your affairs than the NSA, so what's your beef?
  • Australia definitely took a wrong turn electing a Labour Government. What we need is strong business and giant multinationals.Fortunately we have seen the light.
  • If we cannot compete with slave labour building cars, then it serves us right that the motor industries are leaving.

Unfortunately my mind was overwhelmed and could absorb no more.

I do hope she has a pleasant trip and has fond memories of her time in Austria.

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