Daily Digest

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Daily Digest 11/1 - Rise Of The Distorporation, The Jellification Of Our Oceans

Friday, November 1, 2013, 11:58 AM

Economy

Peter Schiff: Fed getting ready to increase QE and here’s why (Herman J.)

Clearly Mr. Schiff is not as optimistic as the mainstream media when it comes to U.S. data improving anytime soon. In fact, he has been screaming to the world for years that the Fed’s stimulus will not create a lasting economic recovery, believing that the Keynesian approach to jump-start an economy by increasing debt and spending has never worked long-term in the history of the world.

Rise Of The Distorporation (westcoastjan)

The new popularity of the MLP is part of a larger shift in the way businesses structure themselves that is changing how American capitalism works. The essence is a move towards types of firm which retain very little of their earnings: “pass-through” companies which every year pay out more or less as much as they take in. Many of the standard rules that corporations which retain their earnings have to follow when dealing with shareholders do not apply to such firms. And, crucially, so long as they distribute their earnings such set-ups can largely avoid corporate tax.

Weapons-Grade Plutonium Price Hits All-Time High (Arthur Robey)

According to McNalley, a bump in the price of enriched Uranium, Isotopic-U3O8 35%, is at least partly to blame for the Plutonium spike. And he said that while it's not apparent now, taxpayers will eventually feel the pinch of these rising prices.

12% of Your Spices May Be Contaminated With 'Filth' (westcoastjan)

The agency identified leafy seasonings such as basil and oregano as at the highest risk for salmonella, reports Bloomberg, and it said Mexico shipped the highest percentage of contaminated spices, followed by India. An FDA official called the findings a "wake-up call" for the spice industry. “It means: ‘Hey, you haven’t solved the problems.'”

Big Oil faces pressure from shareholders over costs (westcoastjan)

Exxon indicated its capital expenditures may subside next year after planned spending of $41 billion this year. It said it has returned $5.8 billion to shareholders in the third quarter through dividends and share repurchases, but did not raise its dividend.

At The Edge Of Time (westcoastjan)

Silver has been one of the most spectacular raw materials in the market, with an increase of almost 800% in price between 2002 and 2011. Extraction rates are still growing strongly, about 50% plus in the decade, as the number of industrial applications of this metal continuously expands. But prices are moving up much faster.

Study Finds Public Funds for Water Clean-Up Poorly Used in California (jdargis)

The report found that nearly 80 percent of conservation funds go to irrigation systems that EWG says by themselves will not produce significant reductions in pesticide use or pollution. Meanwhile, the report says, only 20 percent of funds go toward low-tech practices with greater potential to cut pollution like cover cropping, field borders, filter strips, and residue management.

They're Taking Over! (jdargis)

Jellyfish are among the oldest animal fossils ever found. Prior to around 550 million years ago, when a great diversity of marine life sprang into existence, jellyfish may have had the open oceans pretty much to themselves. Today they must share the briny deep with myriad creatures, and with machines. It’s not just the wildlife they’re worrying. In November 2009 a net full of gigantic jellyfish, the largest of which weighed over 450 pounds, capsized a Japanese trawler, throwing the three-man crew into the ocean. But even mightier vessels have been vanquished by jellyfish.

Unprecedented warming uncovered in Pacific depths (jdargis)

A new record of water temperatures shows how the Pacific has warmed and cooled since the last ice age. It shows that the ocean has warmed 15 times faster in the last 60 years than at any time in the previous 10,000.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/31/13

Provided daily by the Peak Prosperity Gold & Silver Group

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12 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4148
Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2832
Japan’s 'toxic' monster creeping towards US

Japan’s 'toxic' monster creeping towards US

"Gyres said he and his team also brought a Geiger counter with them to measure radiation - 'We didn’t find anything irradiated, we were getting inconsequential readings. I think there's a little fearmongering about it.'

The National Oceanic and Atmospheric Administration agrees, and reports on its site: 'Radiation experts agree that it is highly unlikely that any tsunami-generated marine debris will hold harmful levels of radiation from the Fukushima nuclear emergency.

Some debris in West Coast has been tested by the states, including items known to be from the tsunami, and no radioactive contamination above normal was found.'"

"In addition to physical junk, a wave of slightly radioactive water released from the broken Japanese Fukushima nuclear reactor is predicted to reach shore in 2014 -- but scientists point out that it is so diluted that it is harmless."

See???  Nothing to worry about here.  Fox News said so.  I'm headed back to my regularly scheduled programming now.

T2H

 

 

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
A yelling match.

I watched the Peter Schiff "interview". That was not a conversation- that was a yelling match. All heat and no light.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4148
$17.156 Trillion National Debt

Treasury Direct Link

 

 

========================================================

The Daily History of the Debt Results

Historical returns from 10/16/2013 through 10/31/2013

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

 

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
10/16/2013 11,929,976,600,223.38 4,817,383,948,833.85 16,747,360,549,057.23
10/17/2013 12,117,282,743,815.33 4,958,307,364,148.24 17,075,590,107,963.57
10/18/2013 12,115,701,896,091.53 4,958,558,494,053.42 17,074,260,390,144.95
10/21/2013 12,114,946,844,829.20 4,960,283,752,959.19 17,075,230,597,788.39
10/22/2013 12,114,163,464,067.10 4,964,606,223,859.54 17,078,769,687,926.64
10/23/2013 12,113,767,540,539.90 4,954,113,584,743.97 17,067,881,125,283.87
10/24/2013 12,122,152,249,624.21 4,955,577,059,657.35 17,077,729,309,281.56
10/25/2013 12,121,994,254,444.15 4,954,513,486,825.29 17,076,507,741,269.44
10/28/2013 12,121,935,813,684.43 4,959,573,405,604.07 17,081,509,219,288.50
10/29/2013 12,121,884,031,127.26 4,968,869,496,275.22 17,090,753,527,402.48
10/30/2013 12,121,565,175,397.74 4,966,698,083,233.35 17,088,263,258,631.09
10/31/2013 12,187,369,856,433.22 4,968,747,245,771.27 17,156,117,102,204.49

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4148
That was a really good deficit number that was reported

"The News"

"Spending exceeded receipts by $680.3 billion in the 12 months ended Sept. 30, the narrowest gap since 2008, compared with a $1.09 trillion shortfall in fiscal 2012, the Treasury Department said today in Washington. "

==================================================

 

Please use the find history at Treasury Direct

The Daily History of the Debt Results

Historical returns from 09/28/2012 through 10/01/2013

The data for the total public debt outstanding is published each business day. If there is no debt value for the date(s) you requested, the value for the preceding business day will be displayed.

( Debt Held by the Public vs. Intragovernmental Holdings )

 

Date Debt Held by the Public Intragovernmental Holdings Total Public Debt Outstanding
09/28/2012 11,269,585,800,039.32 4,796,655,607,346.57 16,066,241,407,385.89
10/01/2012 11,310,911,679,511.83 4,848,575,333,788.52 16,159,487,013,300.35
10/02/2012 11,311,627,814,953.92 4,859,409,528,454.65 16,171,037,343,408.57
10/03/2012 11,311,359,644,683.39 4,841,958,628,331.68 16,153,318,273,015.07
10/04/2012 11,314,031,454,864.60 4,847,848,402,292.06 16,161,879,857,156.66
10/05/2012 11,314,089,595,433.67 4,847,777,075,908.41 16,161,866,671,342.08
10/09/2012 11,314,761,053,281.87 4,853,171,242,637.70 16,167,932,295,919.57
10/10/2012 11,315,585,789,064.00 4,842,167,630,147.18 16,157,753,419,211.18
10/11/2012 11,317,140,908,153.51 4,841,129,958,793.69 16,158,270,866,947.20
10/12/2012 11,317,167,763,621.39 4,840,375,198,761.73 16,157,542,962,383.12
10/15/2012 11,343,774,321,918.19 4,847,204,946,848.48 16,190,979,268,766.67
10/16/2012 11,344,378,050,606.93 4,855,196,789,064.38 16,199,574,839,671.31
10/17/2012 11,344,691,191,818.23 4,848,408,997,237.02 16,193,100,189,055.25
10/18/2012 11,347,330,577,919.58 4,850,843,874,295.66 16,198,174,452,215.24
10/19/2012 11,347,370,869,386.17 4,848,681,518,777.09 16,196,052,388,163.26
10/22/2012 11,347,954,615,678.31 4,850,723,356,096.12 16,198,677,971,774.43
10/23/2012 11,348,945,054,421.76 4,854,900,391,213.95 16,203,845,445,635.71
10/24/2012 11,349,517,894,900.98 4,845,273,931,773.91 16,194,791,826,674.89
10/25/2012 11,353,545,059,641.68 4,843,537,494,398.36 16,197,082,554,040.04
10/26/2012 11,353,950,855,146.35 4,843,864,859,164.35 16,197,815,714,310.70
10/29/2012 11,354,115,044,449.90 4,844,878,509,622.45 16,198,993,554,072.35
10/30/2012 11,355,484,849,726.02 4,848,576,821,378.81 16,204,061,671,104.83
10/31/2012 11,411,598,060,978.54 4,849,872,449,742.20 16,261,470,510,720.74
11/01/2012 11,394,220,774,305.94 4,827,464,607,532.34 16,221,685,381,838.28
11/02/2012 11,394,117,713,059.56 4,812,011,315,649.73 16,206,129,028,709.29
11/05/2012 11,394,522,603,668.89 4,815,436,642,865.26 16,209,959,246,534.15
11/06/2012 11,394,722,312,399.49 4,819,636,511,345.81 16,214,358,823,745.30
11/07/2012 11,394,949,129,703.35 4,819,032,999,503.96 16,213,982,129,207.31
11/08/2012 11,421,836,402,771.01 4,823,482,417,798.33 16,245,318,820,569.34
11/09/2012 11,421,887,080,543.66 4,822,821,626,923.59 16,244,708,707,467.25
11/13/2012 11,422,499,324,967.05 4,825,793,716,036.45 16,248,293,041,003.50
11/14/2012 11,423,370,010,678.38 4,821,014,083,153.54 16,244,384,093,831.92
11/15/2012 11,451,166,778,937.43 4,827,765,599,583.50 16,278,932,378,520.93
11/16/2012 11,451,587,527,712.47 4,829,742,388,887.16 16,281,329,916,599.63
11/19/2012 11,451,717,055,433.81 4,834,393,373,365.27 16,286,110,428,799.08
11/20/2012 11,452,926,620,014.80 4,839,762,861,335.04 16,292,689,481,349.84
11/21/2012 11,453,560,734,889.31 4,829,601,160,290.54 16,283,161,895,179.85
11/23/2012 11,474,590,079,642.49 4,832,898,863,921.74 16,307,488,943,564.23
11/26/2012 11,474,648,831,627.28 4,835,089,224,735.16 16,309,738,056,362.44
11/27/2012 11,476,501,231,339.55 4,841,180,535,101.89 16,317,681,766,441.44
11/28/2012 11,476,984,527,323.06 4,829,728,611,145.81 16,306,713,138,468.87
11/29/2012 11,493,262,670,990.22 4,829,820,778,614.76 16,323,083,449,604.98
11/30/2012 11,553,200,614,797.95 4,816,348,184,806.98 16,369,548,799,604.93
12/03/2012 11,546,976,256,305.11 4,791,116,687,411.50 16,338,092,943,716.61
12/04/2012 11,548,068,122,481.49 4,798,987,528,898.83 16,347,055,651,380.32
12/05/2012 11,548,172,135,905.81 4,789,756,642,038.34 16,337,928,777,944.15
12/06/2012 11,574,843,047,483.17 4,791,593,844,464.86 16,366,436,891,948.03
12/07/2012 11,574,936,359,708.19 4,790,434,215,669.24 16,365,370,575,377.43
12/10/2012 11,574,850,495,101.24 4,795,205,750,828.40 16,370,056,245,929.64
12/11/2012 11,576,940,588,724.21 4,798,933,840,531.31 16,375,874,429,255.52
12/12/2012 11,577,233,876,580.17 4,789,188,531,059.82 16,366,422,407,639.99
12/13/2012 11,579,054,310,010.98 4,790,929,849,462.83 16,369,984,159,473.81
12/14/2012 11,569,505,389,531.39 4,790,071,570,045.10 16,359,576,959,576.49
12/17/2012 11,559,847,855,373.92 4,791,345,666,913.01 16,351,193,522,286.93
12/18/2012 11,560,260,443,165.41 4,799,498,299,742.35 16,359,758,742,907.76
12/19/2012 11,562,408,370,891.60 4,789,635,413,188.05 16,352,043,784,079.65
12/20/2012 11,542,501,977,534.63 4,791,715,037,538.86 16,334,217,015,073.49
12/21/2012 11,543,180,708,527.22 4,793,036,652,299.25 16,336,217,360,826.47
12/24/2012 11,542,901,758,423.84 4,794,654,803,109.81 16,337,556,561,533.65
12/26/2012 11,543,065,624,834.50 4,794,794,575,800.56 16,337,860,200,635.06
12/27/2012 11,546,343,682,876.98 4,791,899,708,870.10 16,338,243,391,747.08
12/28/2012 11,546,673,477,919.73 4,789,788,074,686.62 16,336,461,552,606.35
12/31/2012 11,581,517,550,395.07 4,851,212,500,174.05 16,432,730,050,569.12
01/02/2013 11,577,114,260,043.07 4,855,591,654,212.41 16,432,705,914,255.48
01/03/2013 11,578,257,530,277.50 4,852,961,613,419.03 16,431,219,143,696.53
01/04/2013 11,577,454,260,707.67 4,855,253,002,741.89 16,432,707,263,449.56
01/07/2013 11,576,942,656,816.74 4,855,728,430,954.89 16,432,671,087,771.63
01/08/2013 11,577,258,793,985.11 4,855,400,234,082.39 16,432,659,028,067.50
01/09/2013 11,577,058,451,453.14 4,855,588,516,966.52 16,432,646,968,419.66
01/10/2013 11,577,361,703,183.51 4,855,330,426,327.33 16,432,692,129,510.84
01/11/2013 11,577,420,895,333.87 4,855,259,202,279.98 16,432,680,097,613.85
01/14/2013 11,576,283,283,071.84 4,856,360,713,608.80 16,432,643,996,680.64
01/15/2013 11,571,499,323,932.43 4,861,132,778,356.26 16,432,632,102,288.69
01/16/2013 11,580,163,620,602.10 4,852,456,446,889.35 16,432,620,067,491.45
01/17/2013 11,573,578,115,566.81 4,859,053,374,287.89 16,432,631,489,854.70
01/18/2013 11,573,119,153,243.76 4,859,500,271,459.30 16,432,619,424,703.06
01/22/2013 11,569,641,536,510.27 4,862,929,622,901.30 16,432,571,159,411.57
01/23/2013 11,571,556,605,939.06 4,861,002,486,006.88 16,432,559,091,945.94
01/24/2013 11,571,751,368,198.13 4,860,816,571,179.19 16,432,567,939,377.32
01/25/2013 11,568,168,297,110.57 4,864,387,626,648.42 16,432,555,923,758.99
01/28/2013 11,565,560,140,260.75 4,866,959,735,542.22 16,432,519,875,802.97
01/29/2013 11,559,948,067,585.89 4,872,559,791,234.56 16,432,507,858,820.45
01/30/2013 11,561,546,986,123.18 4,870,948,855,321.50 16,432,495,841,444.68
01/31/2013 11,560,175,568,531.63 4,873,616,281,762.41 16,433,791,850,294.04
02/01/2013 11,598,372,554,293.94 4,835,407,359,586.40 16,433,779,913,880.34
02/04/2013 11,626,337,288,025.30 4,848,711,110,140.49 16,475,048,398,165.79
02/05/2013 11,625,727,190,868.48 4,855,183,465,735.48 16,480,910,656,603.96
02/06/2013 11,625,346,979,571.39 4,854,607,678,532.18 16,479,954,658,103.57
02/07/2013 11,629,141,154,310.54 4,858,423,143,581.49 16,487,564,297,892.03
02/08/2013 11,629,086,187,262.76 4,859,822,660,565.49 16,488,908,847,828.25
02/11/2013 11,628,591,907,992.80 4,861,338,742,601.35 16,489,930,650,594.15
02/12/2013 11,628,648,227,429.31 4,865,719,111,994.35 16,494,367,339,423.66
02/13/2013 11,668,602,027,147.93 4,855,702,571,931.11 16,524,304,599,079.04
02/14/2013 11,684,037,184,012.31 4,856,763,106,135.15 16,540,800,290,147.46
02/15/2013 11,690,221,227,952.85 4,858,705,577,176.51 16,548,926,805,129.36
02/19/2013 11,690,986,523,097.68 4,861,832,619,109.72 16,552,819,142,207.40
02/20/2013 11,726,900,735,373.96 4,861,850,299,932.41 16,588,751,035,306.37
02/21/2013 11,745,346,816,554.79 4,862,971,540,821.75 16,608,318,357,376.54
02/22/2013 11,745,714,714,472.60 4,863,326,086,372.96 16,609,040,800,845.56
02/25/2013 11,745,861,277,022.58 4,864,696,500,882.40 16,610,557,777,904.98
02/26/2013 11,746,654,992,852.21 4,872,046,818,075.56 16,618,701,810,927.77
02/27/2013 11,747,359,892,695.65 4,859,856,611,255.10 16,607,216,503,950.75
02/28/2013 11,822,436,182,671.08 4,864,852,997,544.29 16,687,289,180,215.37
03/01/2013 11,820,053,588,447.65 4,820,081,728,177.68 16,640,135,316,625.33
03/04/2013 11,820,506,733,842.34 4,829,196,726,125.66 16,649,703,459,968.00
03/05/2013 11,821,124,476,225.46 4,842,585,002,295.56 16,663,709,478,521.02
03/06/2013 11,851,125,738,615.09 4,841,113,051,404.11 16,692,238,790,019.20
03/07/2013 11,855,868,140,512.04 4,845,382,500,597.64 16,701,250,641,109.68
03/08/2013 11,855,687,948,374.48 4,846,158,989,505.26 16,701,846,937,879.74
03/11/2013 11,855,880,363,426.63 4,848,062,765,989.51 16,703,943,129,416.14
03/12/2013 11,856,073,789,288.19 4,853,902,425,506.25 16,709,976,214,794.44
03/13/2013 11,856,553,916,339.54 4,844,080,938,130.98 16,700,634,854,470.52
03/14/2013 11,862,580,086,458.01 4,845,645,373,717.13 16,708,225,460,175.14
03/15/2013 11,886,788,690,412.08 4,844,904,351,446.04 16,731,693,041,858.12
03/18/2013 11,886,986,270,725.16 4,849,201,755,322.70 16,736,188,026,047.86
03/19/2013 11,888,479,325,385.46 4,860,790,262,022.07 16,749,269,587,407.53
03/20/2013 11,889,311,552,493.68 4,850,628,303,371.71 16,739,939,855,865.39
03/21/2013 11,895,330,386,361.15 4,854,799,935,759.86 16,750,130,322,121.01
03/22/2013 11,895,445,966,375.44 4,854,478,971,718.99 16,749,924,938,094.43
03/25/2013 11,895,649,154,059.06 4,857,793,910,839.81 16,753,443,064,898.87
03/26/2013 11,895,989,170,692.28 4,863,074,573,880.18 16,759,063,744,572.46
03/27/2013 11,897,486,042,923.01 4,851,996,411,982.88 16,749,482,454,905.89
03/28/2013 11,917,129,749,753.30 4,849,858,683,039.32 16,766,988,432,792.62
03/29/2013 11,916,887,638,498.36 4,854,491,368,262.02 16,771,379,006,760.38
04/01/2013 11,956,521,964,259.37 4,835,598,045,347.43 16,792,120,009,606.80
04/02/2013 11,958,659,888,679.28 4,846,217,066,437.50 16,804,876,955,116.78
04/03/2013 11,959,086,403,460.80 4,827,883,739,018.03 16,786,970,142,478.83
04/04/2013 11,963,992,444,855.95 4,834,059,145,078.73 16,798,051,589,934.68
04/05/2013 11,964,101,618,672.85 4,833,727,280,413.95 16,797,828,899,086.80
04/08/2013 11,964,701,103,061.99 4,837,814,648,845.62 16,802,515,751,907.61
04/09/2013 11,965,728,364,175.71 4,842,546,050,031.45 16,808,274,414,207.16
04/10/2013 11,966,412,740,544.37 4,832,571,494,247.96 16,798,984,234,792.33
04/11/2013 11,973,457,167,619.66 4,834,609,936,524.40 16,808,067,104,144.06
04/12/2013 11,972,610,122,573.13 4,835,630,263,700.38 16,808,240,386,273.51
04/15/2013 11,949,925,556,918.45 4,851,381,930,298.11 16,801,307,487,216.56
04/16/2013 11,950,741,882,219.27 4,861,323,727,153.97 16,812,065,609,373.24
04/17/2013 11,951,382,624,833.00 4,855,887,740,074.39 16,807,270,364,907.39
04/18/2013 11,916,935,124,816.33 4,862,534,449,476.35 16,779,469,574,292.68
04/19/2013 11,917,014,399,413.45 4,864,953,302,991.92 16,781,967,702,405.37
04/22/2013 11,917,551,034,088.30 4,869,900,084,059.02 16,787,451,118,147.32
04/23/2013 11,919,663,839,494.38 4,879,288,760,461.21 16,798,952,599,955.59
04/24/2013 11,920,312,314,073.28 4,874,037,513,824.02 16,794,349,827,897.30
04/25/2013 11,882,018,443,343.86 4,876,088,638,954.77 16,758,107,082,298.63
04/26/2013 11,882,358,300,866.68 4,874,286,092,840.37 16,756,644,393,707.05
04/29/2013 11,883,187,129,042.84 4,874,981,100,337.37 16,758,168,229,380.21
04/30/2013 11,943,148,398,205.65 4,885,697,098,978.25 16,828,845,497,183.90
05/01/2013 11,941,250,695,378.20 4,863,786,189,376.81 16,805,036,884,755.01
05/02/2013 11,916,811,238,228.03 4,878,167,934,988.58 16,794,979,173,216.61
05/03/2013 11,916,626,030,277.37 4,864,274,163,856.73 16,780,900,194,134.10
05/06/2013 11,916,773,963,956.66 4,871,653,220,582.77 16,788,427,184,539.43
05/07/2013 11,917,157,774,325.76 4,878,394,615,872.64 16,795,552,390,198.40
05/08/2013 11,918,172,096,170.35 4,865,934,785,672.41 16,784,106,881,842.76
05/09/2013 11,887,048,630,805.07 4,867,686,151,007.81 16,754,734,781,812.88
05/10/2013 11,887,058,199,153.94 4,866,934,376,636.20 16,753,992,575,790.14
05/13/2013 11,887,081,948,561.92 4,868,706,488,480.53 16,755,788,437,042.45
05/14/2013 11,887,608,207,956.34 4,873,353,643,978.26 16,760,961,851,934.60
05/15/2013 11,901,125,505,217.10 4,863,915,219,916.62 16,765,040,725,133.72
05/16/2013 11,867,088,850,551.92 4,867,719,794,096.15 16,734,808,644,648.07
05/17/2013 11,867,831,161,091.10 4,869,497,077,057.03 16,737,328,238,148.13
05/20/2013 11,868,008,008,647.18 4,869,286,296,068.34 16,737,294,304,715.52
05/21/2013 11,866,707,237,456.99 4,870,575,754,633.74 16,737,282,992,090.73
05/22/2013 11,869,033,052,284.13 4,864,999,921,926.14 16,734,032,974,210.27
05/23/2013 11,867,458,606,329.51 4,869,118,012,243.79 16,736,576,618,573.30
05/24/2013 11,868,333,732,925.83 4,867,090,538,332.04 16,735,424,271,257.87
05/28/2013 11,868,395,289,961.27 4,868,824,436,439.95 16,737,219,726,401.22
05/29/2013 11,869,350,553,775.90 4,867,857,982,657.93 16,737,208,536,433.83
05/30/2013 11,876,135,593,353.16 4,861,110,506,645.70 16,737,246,099,998.86
05/31/2013 11,897,150,711,173.54 4,841,671,232,812.58 16,738,821,943,986.12
06/03/2013 11,920,376,111,297.58 4,818,412,720,847.72 16,738,788,832,145.30
06/04/2013 11,910,742,481,781.12 4,828,035,854,910.47 16,738,778,336,691.59
06/05/2013 11,910,676,506,667.37 4,828,090,749,929.30 16,738,767,256,596.67
06/06/2013 11,906,099,594,022.72 4,832,671,232,135.87 16,738,770,826,158.59
06/07/2013 11,907,184,984,027.69 4,831,574,844,958.73 16,738,759,828,986.42
06/10/2013 11,902,616,558,873.64 4,836,110,275,858.71 16,738,726,834,732.35
06/11/2013 11,896,522,062,197.79 4,842,193,773,482.79 16,738,715,835,680.58
06/12/2013 11,906,232,708,966.61 4,832,472,127,211.98 16,738,704,836,178.59
06/13/2013 11,903,648,395,720.79 4,835,059,898,250.74 16,738,708,293,971.53
06/14/2013 11,903,843,811,259.69 4,834,853,558,760.12 16,738,697,370,019.81
06/17/2013 11,898,429,627,297.88 4,840,234,968,029.76 16,738,664,595,327.64
06/18/2013 11,886,064,000,252.75 4,852,589,639,458.78 16,738,653,639,711.53
06/19/2013 11,897,497,174,217.51 4,841,145,580,855.80 16,738,642,755,073.31
06/20/2013 11,894,161,895,232.89 4,844,483,916,257.51 16,738,645,811,490.40
06/21/2013 11,893,485,969,620.32 4,845,149,025,589.40 16,738,634,995,209.72
06/24/2013 11,889,341,259,564.89 4,849,261,283,962.28 16,738,602,543,527.17
06/25/2013 11,881,040,228,839.68 4,857,551,496,377.43 16,738,591,725,217.11
06/26/2013 11,895,008,652,504.44 4,843,572,253,331.95 16,738,580,905,836.39
06/27/2013 11,895,982,677,867.57 4,842,646,370,951.52 16,738,629,048,819.09
06/28/2013 11,901,292,256,124.39 4,837,027,798,364.88 16,738,320,054,489.27
07/01/2013 11,917,627,144,080.38 4,820,682,161,567.88 16,738,309,305,648.26
07/02/2013 11,907,461,343,361.94 4,830,837,212,971.31 16,738,298,556,333.25
07/03/2013 11,925,730,223,670.28 4,812,557,582,873.92 16,738,287,806,544.20
07/05/2013 11,924,136,539,816.95 4,814,144,534,241.82 16,738,281,074,058.77
07/08/2013 11,920,232,056,507.59 4,818,017,038,291.21 16,738,249,094,798.80
07/09/2013 11,913,999,125,769.08 4,824,239,308,339.88 16,738,238,434,108.96
07/10/2013 11,925,693,693,492.82 4,812,534,079,453.23 16,738,227,772,946.05
07/11/2013 11,924,366,082,851.82 4,813,864,601,157.01 16,738,230,684,008.83
07/12/2013 11,925,650,525,848.91 4,812,569,560,255.66 16,738,220,086,104.57
07/15/2013 11,921,818,444,955.51 4,816,369,920,674.52 16,738,188,365,630.03
07/16/2013 11,916,592,286,387.42 4,821,585,479,545.99 16,738,177,765,933.41
07/17/2013 11,923,963,485,925.04 4,814,203,679,836.53 16,738,167,165,761.57
07/18/2013 11,922,852,502,219.07 4,815,316,488,166.72 16,738,168,990,385.79
07/19/2013 11,924,282,696,388.53 4,813,875,763,980.08 16,738,158,460,368.61
07/22/2013 11,920,681,392,359.10 4,817,445,475,529.48 16,738,126,867,888.58
07/23/2013 11,914,163,119,298.43 4,823,953,216,812.72 16,738,116,336,111.15
07/24/2013 11,923,167,815,151.20 4,814,937,988,707.01 16,738,105,803,858.21
07/25/2013 11,923,178,193,007.05 4,814,958,212,377.64 16,738,136,405,384.69
07/26/2013 11,923,848,523,940.14 4,814,277,433,190.86 16,738,125,957,131.00
07/29/2013 11,923,211,410,068.29 4,814,883,198,312.74 16,738,094,608,381.03
07/30/2013 11,920,527,521,939.03 4,817,556,636,294.54 16,738,084,158,233.57
07/31/2013 11,917,023,270,880.15 4,821,575,923,414.72 16,738,599,194,294.87
08/01/2013 11,938,163,909,074.02 4,800,436,352,064.99 16,738,600,261,139.01
08/02/2013 11,962,811,436,986.58 4,775,778,381,519.41 16,738,589,818,505.99
08/05/2013 11,958,647,246,457.13 4,779,911,241,291.38 16,738,558,487,748.51
08/06/2013 11,951,242,739,803.21 4,787,305,303,406.47 16,738,548,043,209.68
08/07/2013 11,951,614,681,840.55 4,786,922,916,353.66 16,738,537,598,194.21
08/08/2013 11,945,916,628,541.94 4,792,624,611,739.25 16,738,541,240,281.19
08/09/2013 11,947,674,387,704.36 4,790,856,407,013.07 16,738,530,794,717.43
08/12/2013 11,945,778,493,498.52 4,792,720,961,666.43 16,738,499,455,164.95
08/13/2013 11,941,430,910,929.04 4,797,058,096,764.36 16,738,489,007,693.40
08/14/2013 11,952,073,953,024.85 4,786,404,606,713.34 16,738,478,559,738.19
08/15/2013 11,948,073,603,954.31 4,790,411,038,562.49 16,738,484,642,516.80
08/16/2013 11,947,689,550,073.95 4,790,784,671,580.97 16,738,474,221,654.92
08/19/2013 11,943,881,131,966.65 4,794,561,824,342.49 16,738,442,956,309.14
08/20/2013 11,939,350,279,760.49 4,799,082,253,846.53 16,738,432,533,607.02
08/21/2013 11,950,216,351,494.50 4,788,205,758,940.44 16,738,422,110,434.94
08/22/2013 11,946,942,016,060.21 4,791,518,749,933.80 16,738,460,765,994.01
08/23/2013 11,946,036,670,912.59 4,792,413,724,458.54 16,738,450,395,371.13
08/26/2013 11,944,979,382,456.89 4,793,439,898,282.69 16,738,419,280,739.58
08/27/2013 11,940,494,752,180.66 4,797,914,156,059.47 16,738,408,908,240.13
08/28/2013 11,951,248,861,591.63 4,787,149,673,724.28 16,738,398,535,315.91
08/29/2013 11,952,181,180,500.19 4,786,220,154,651.97 16,738,401,335,152.16
08/30/2013 11,967,014,240,420.23 4,771,635,600,972.47 16,738,649,841,392.70
09/03/2013 11,987,013,909,572.67 4,751,604,878,302.65 16,738,618,787,875.32
09/04/2013 11,976,105,208,769.82 4,762,503,226,981.47 16,738,608,435,751.29
09/05/2013 11,975,891,240,196.65 4,762,717,122,755.23 16,738,608,362,951.88
09/06/2013 11,972,914,390,661.04 4,765,683,738,668.01 16,738,598,129,329.05
09/09/2013 11,972,023,480,702.70 4,766,543,945,079.76 16,738,567,425,782.46
09/10/2013 11,965,231,426,142.57 4,773,325,764,202.78 16,738,557,190,345.35
09/11/2013 11,975,862,061,625.88 4,762,684,892,820.73 16,738,546,954,446.61
09/12/2013 11,973,170,292,026.36 4,765,372,833,182.02 16,738,543,125,208.38
09/13/2013 11,971,741,815,720.33 4,766,791,209,415.30 16,738,533,025,135.63
09/16/2013 11,965,887,207,931.11 4,772,615,514,214.79 16,738,502,722,145.90
09/17/2013 11,954,645,792,732.60 4,783,846,852,502.44 16,738,492,645,235.04
09/18/2013 11,963,551,354,853.82 4,774,931,251,929.22 16,738,482,606,783.04
09/19/2013 11,961,016,186,546.38 4,777,487,625,791.41 16,738,503,812,337.79
09/20/2013 11,968,087,060,819.65 4,770,406,922,840.44 16,738,493,983,660.09
09/23/2013 11,964,783,769,751.11 4,773,680,725,095.78 16,738,464,494,846.89
09/24/2013 11,958,459,239,132.60 4,779,995,425,186.78 16,738,454,664,319.38
09/25/2013 11,962,635,902,318.47 4,775,808,930,887.09 16,738,444,833,205.56
09/26/2013 11,963,853,492,345.40 4,774,589,683,128.57 16,738,443,175,473.97
09/27/2013 11,967,508,057,617.56 4,770,925,413,018.05 16,738,433,470,635.61
09/30/2013 11,976,279,236,073.83 4,761,904,290,623.49 16,738,183,526,697.32
       

 

HughK's picture
HughK
Status: Platinum Member (Offline)
Joined: Mar 6 2012
Posts: 761
2 questions: natural gas price and marginal cost

Hi all,

I am currently wondering about natural gas prices and marginal cost.  This was triggered by an article titled Coal Displacing Nat Gas...Already.  From the eighth paragraph:

Secondly, but most importantly, we can now safely assume that nat gas is priced out of the market for electricity generation somewhere between $3.50-4/mcf. That produces an enormous difficulty for natural gas producers in that the break-even costs of unconventional shale wells is considerably higher with the average probably falling around $6/mcf. 

According to what standard microeconomic theory says about perfect competition, prices are set at the point where the marginal cost curve of a product meets the demand curve.  The current price of natural gas in the US is about $3.50/Mcf  Yet, according to article quoted above, the average cost of fracked gas is $6/Mcf.

I am guessing the answer is that the fracking projects were brought online when the price was over $6/Mcf, and a 10 year price chart tells me that wasn't very long ago, as the price fell below this in the second half of 2010.  Does that means that many fracking projects are currently losing money?  Apologies to Chris if he has said this in one of his many commentaries on natural gas and fracking.  I did take another look at Gregor McDonald's "The Crude Math of the Marginal Barrel," but I haven't searched PP for natural gas discussions.  

My second question is really just a question about microeconomics graphs.  Chris, Dave, Jim H, anyone else - this might be easy for you to see, but for some reason, I can't get my head around it...Why, in this graph showing marginal cost and price in perfect competition, is the "firm's demand curve perfectly elastic" (i.e. horizontal)?  I understand the very basic concept that the price of a product in a competitive market should be where the supply curve, which I think would be the same as the marginal cost curve once fixed costs are taken care of, meets the downward sloping demand curve.  So, why in this diagram is the demand curve shown to be horizontal, or completely elastic?

Any insight out there would be greatly appreciated!

Thanks,

Hugh

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Even Slugger Gets It.

Hello Hugh,

I noticed the words "Perfect Competition" in you piece.  Meanwhile back in the real world powerstations don't spend every day wondering if they should be burning coal or gas tomorrow, they are stuck with the plant that they have got for at least 20 years.

I shall pass the question on to the first wife, she bored me to tears with this stuff.

Losing the oceans to jellyfish is also part of the real world. We are living on this planet as though we were still 1 million strong. The great die-off is set in concrete. What advantage can you give your children and grandchildren.

Even Slugger gets it.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
A little Maths for amusement.

I have worked out that with one biggish (85km) asteroid would provide enough material to produce 76 000 of these bits of prime real estate on the high ground.

Assumptions: Length of asteroid=2Diameter., Wall thickness of habitat= 2m. Length of habitat = 200 km.

Radius of habitat = 20 km (To yield a perfect vacuum at the axis. (Necessary for perfect ingress and egress at zero gravity, perfect vacuum at the axis.)

Each unit will yield 6.117 Million acres of land. And there are 76 000 of them built from one asteroid. Therefore each asteroid would yield 464 billion acres.

The USA is 2.3 billion acres therefore one asteroid would yield the same acreage as 202.1 USAs. Per asteroid. Put that in your pipe and smoke it.

 

 

HughK's picture
HughK
Status: Platinum Member (Offline)
Joined: Mar 6 2012
Posts: 761
Thanks, Arthur

Hi Arthur,

I agree with your point about the sunk cost of a power plant.

I am also right there with you about the long term consequences of burning fossil fuels.  This whole question came up as are result of a conversation and email exchange about energy limits and fracking that I had with a great Mexican student whose father is more or less wealthy-libertarian, and so this student leans that way as well.  He's a very avid thinker and as I expose him to some sneak-previews of peak oil (which we start studying next week) he pushes back in a very reasonable and expected way, namely, by finding evidence of vast non-con oil and gas reserves.  He showed me this publication specifically, so we discussed the summary to it.

In that discussion, I said a few things about the long run, pasted at the end of this message. These are all responses to different statements in the summary of the aforelinked document.

I just started reading Hall and Klitgaard's Energy and the Wealth of Nations: An Introduction to Biophysical Economics, so I'm very sympathetic to the shortcomings of the orthodox economic theories.  On the other hand, I'd like to understand them better, so I'm still looking for someone to help me with this pesky, perfectly elastic demand curve.  Was your first wife an economist?

Cheers,

Hugh

"As far as the carbon footprint,in the medium to long run this will make very little difference as we are taking the carbon-based energy sources (fossil fuels, coal, oil and natural gas) out of the ground and burning them in what is basically a milisecond of geological time.  These resources, and the carbon that goes with them, has been locked in the ground for tens of millions of years, and we are putting this carbon back into the atmosphere in a matter of a few centuries.  In other words, a slightly reduced carbon footprint b/c we're using one slightly better type of fossil fuel  (nat. gas.) over a worse type (coal) still does not address the big issue, which is the greenhouse-gas forcing of industrial civilization.  Most of this forcing comes from fossil fuel burning.  We will talk about what a climate forcing is in class, but without understanding what a climate forcing is, it's difficult to really understand global warming. "

and

"One of the problems with fracking is that it puts cracks in the water table, allowing precious, fresh groundwater to escape or be polluted by gas and chemicals used in fracking.  The gas extracted from fracking will make money for people, and help the economy, for a few decades, at best.  Then, for thousands of years in that area, the water table will be still be compromised, meaning that in the long run we're making life harder for people, we're having a negative economic impact.  This is similar to government debt buildup.  Libertarians rightly argue that government debt buildup is a way to spend more now, making lives a little easier for people today, and then pass the bill (the debt) onto our children and grandchildren. I agree with this point.  What I would also like to see is libertarians who understand that the long-term health of the economy and of human civilization depends on reliable sources of water, air, etc. and so if libertarianism is too capitalistic and too short-term, then it risks justifying environmental destruction (such as what is caused by fracking).  This is an externality in economics.  A negative externality is when someone gets the benefit of something, and passes part of the cost on to another group.  In this case, the landowner today, the gas company, and electricity users today enjoy the benefit of fracked natural gas, and the long-term costs of reduced water are paid by the children, grandchildren and great grandchildren, for many generations, of the landowner and also his/her neighbors affected by the compromised (harmed) water table. I like libertarianism's idea that people should work for themselves, but I'm not sure how libertarianism or our current type of capitalism provides for future generations.  This seems to be a weak point of our short-term growth based capitalism."

and

"It's very likely that there is a lot of money to be made investing in shale-gas projects, and possibly liquefied natural gas terminals for shipping gas exports overseas.  This is an example of how our industrial capitalist civilization focuses on short and medium term economic growth at the expense of long-term sustainability.  It's important to remember that the investors in such projects will gain the benefits of their investments, and make a lot of money, but that they will pass some of the costs of such investments on to humans in future generations who are born after the natural gas is all extracted and burned up, but the negative consequences for the water table and climate still remain.  I'm not sure how to address this problem, but I am sure that we don't really take this into account as a society.  This is rarely discussed because our current way of thinking is focused on short- and medium term profit and short/medium-term economic growth at the expense of long-term sustainability."

 

gillbilly's picture
gillbilly
Status: Gold Member (Offline)
Joined: Oct 22 2012
Posts: 423
Hi Hugh, The chart you posted

 

Hi Hugh,

The chart you posted is of long-run equilibrium (and those are the two key words, long-run and equilibrium). Profits can be made in the short-term when there is a certain amount of inelasticity of demand (allowing firms to profit off degrees of monopoly or competitive advantage), but in the long-term, demand moves to an ultimate equilibrium producing an elastic demand/price, therefore the firm earns only nominal profits...so the theory goes. As firms enter the short-run market to compete for profits, the elasticity of demand flattens over time as the price finds its equilibrium. General equilibrium is just a theory, and some economists say it doesn't matter if really exists, but would argue that what's important is that the price gravitates toward this equilibrium in the long-run.  Long-run perfect competitive market implies that all firms in the market have complete knowledge, and any fluctuations in supply or demand will be efficiently met. This does not mean that the price cannot move up or down in the long-run, but it is ultimately tied to the ATC (where it intersects the bottom of the ATC curve). If the overall ATC moves up or down in the market, so will the price. Hopefully that answers your question.

 

 

HughK's picture
HughK
Status: Platinum Member (Offline)
Joined: Mar 6 2012
Posts: 761
Merci beaucoup, Gillbilly!

Thanks a lot.  I appreciate your response.  This site is so helpful to me as a teacher, and thanks for proving this true again today.

Cheers,

Hugh

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1447
MLP, LLC, vs C

I know accountants love to pump alternatives to C corp.  But what I don't understand is why.  If company has a big balance sheet, then that argues to be a C corp due to how accounting is done and "paper profits".   In this sense a C Corp gives shareholders more flexibility to use money without it being taxed.  Want to get money out?  Set up a shareholder bonus structure that is treated as corp expense so only taxed once.  The problem with LLC (and I assume MLP) is that when shareholders need to "retain earnings" for investment it is taxed at personal rate when the return on the retain earnings may be loss.   Sure the losses pass through too but time is money as they say.  Any accountant care to comment?

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