Daily Digest

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Daily Digest 11/27 - Spaniards Take Deep Wage Cuts, Venezuela Oil Rut Makes Dollars More Scarce

Wednesday, November 27, 2013, 1:56 PM

Economy

City Council Approves 2014 Chicago Budget

The budget also counts on around $120 million in revenue from tickets issued by the city’s red light and speed cameras

Other revenue-generating highlights:
Hikes in various parking fines, and vehicle impound fees, which should bring in $10 million.

Record Gold Fee Spurs Gitanjali’s Diamond Push: Corporate India

Import curbs in the world’s biggest gold user may force jewelers such as Gitanjali and Rajesh Exports Ltd. (RJEX) to pay a record $200 per ounce over the London price from next month to obtain supplies, according to the All India Gems & Jewellery Trade Federation. The premium is currently $120-$130 an ounce.

Spaniards take deep wage cuts, fearful for their jobs

Fearful of joining the one in four workers out of a job, Spanish employees are accepting ever deeper salary cuts as they pay the price of the economy's growing competitiveness.

Florida's prepaid college tuition cost has skyrocketed for cash strapped families

Back in 2007, the 4 year university plan cost $15,000 in a lump sum. Today it costs just under $54,000-more if you spread out the payments.

Food stamp cuts, holidays stress food banks

For those who help the hungry, 2013 is looking a lot like the years since the recession began—with the added challenge of a $5 billion cut in food stamp benefits, which took effect Nov. 1. About 48 million Americans will be hit by the reduction in the Supplemental Nutritional Assistance Program (SNAP), which will subtract $36 per month for a family of four. Total benefit amounts vary by state.

Rupiah Drops to Weakest Level Since 2009 After Failed Debt Sale (Indonesia)

The government raised $190 million from the bond sale yesterday, short of the $450 million goal, said Robert Pakpahan, director general at the debt management office. Global funds sold a net $361 million of Indonesian stocks this month through yesterday, while the benchmark index declined by the most since September today.

India Office Boom Turns Glut With Vacancies

Demand for offices in India has been declining as Asia’s third-largest economy -- labeled a “dream market” by Warren Buffett two years ago -- faces the slowest expansion in 11 years, the fastest inflation rate among large emerging markets, and the risk of its debt ratings being cut to junk.

Venezuela Oil Rut Makes Dollars Even More Scarce

The lost revenue is adding to concern over Venezuela’s creditworthiness after President Nicolas Maduro sent in the army to help enforce price controls at some stores and called on congress to grant him special powers to fight the “parasitic bourgeoisie.” Venezuela’s debt securities have declined 7 percent this month as borrowing costs touched a 22-month high of 14.56 percent, according to JPMorgan Chase & Co.

Credit-card binge leaves many Brazilians deep in debt

Over the last five years, the ratio of outstanding debt to gross domestic product jumped to 56% from 31%. But in a country where credit cards have annual interest rates of 120% or more, defaults have risen and credit expansion has slowed, particularly among the middle class and working poor.

Emanuel plans more debt refinancing (Chicago)

The administration intends to extend the life of long-term loans that are coming due and turn short-term loans into long-term debt. Without the borrowing, the mayor would be forced in the coming years to cut spending even more, raise taxes, fines and fees further, or raid reserves.

Some call on city to explore eminent domain to combat blight

A California city's controversial plan to use eminent domain to help its residents burdened with mortgages worth more than their homes has caught the eye of some Baltimore leaders, who say the city might benefit from the program.

There are thousands of such underwater mortgages in Baltimore, so 4th District Councilman Bill Henry has asked the City Council to explore the possibility of using the city's power to take mortgages from banks and then work with a private firm to refinance the loans based on current property value.

Bank of Cyprus makes 1.8 bln euro H1 loss on Greece, provisions

Bank of Cyprus, the lender forced to seize client deposits to recapitalise in March, reported a 1.8 billion euro net loss for the first half of the year, impacted by its forced disposal of Greek operations and rising provisions.

Spain to Split Rail Operator to Clear 13 Billion Euros of Debt

Spain’s public borrowing is set to exceed 100 percent of GDP in 2015 after tax revenue plummeted during a five-year economic slump.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/26/13

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."

12 Comments

saxplayer00o1's picture
saxplayer00o1
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pinecarr's picture
pinecarr
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Trade agreement to give transnat'l corps power over food safety+

http://www.atimes.com/atimes/Global_Economy/GECON-01-271113.html

"The TPP and ill health", by Ellen Brown

"Ellen Brown is an attorney, president of the Public Banking Institute, and author of twelve books, including the best-sellingWeb of Debt."

"...The TPP and international corporate control

As the devastating conclusions of these and other researchers awaken people globally to the dangers of Roundup and GMO foods, transnational corporations are working feverishly with the Barack Obama administration to fast-track the Trans-Pacific Partnership, a trade agreement that would strip governments of the power to regulate transnational corporate activities. 



Negotiations have been kept secret from the US Congress but not from corporate advisors, 600 of whom have been consulted and know the details. According to Barbara Chicherio in Nation of Change:

The Trans Pacific Partnership (TPP) has the potential to become the biggest regional Free Trade Agreement in history ... 

The chief agricultural negotiator for the US is the former Monsanto lobbyist, Islam Siddique. If ratified the TPP would impose punishing regulations that give multinational corporations unprecedented right to demand taxpayer compensation for policies that corporations deem a barrier to their profits. 

... They are carefully crafting the TPP to insure that citizens of the involved countries have no control over food safety, what they will be eating, where it is grown, the conditions under which food is grown and the use of herbicides and pesticides.

Food safety is only one of many rights and protections liable to fall to this super-weapon of international corporate control. In an April 2013 interview on The Real News Network, Kevin Zeese, referring to the North American Free Trade Agreement, called the TPP "NAFTA on steroids" and "a global corporate coup". He warned:

No matter what issue you care about - whether its wages, jobs, protecting the environment ... this issue is going to adversely affect it ... 

If a country takes a step to try to regulate the financial industry or set up a public bank to represent the public interest, it can be sued ..."

 

SailAway's picture
SailAway
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Google Earth Reveals Untold Fish Catches

More bad news for the oceans...

Google Earth Reveals Untold Fish Catches

 

UBC researchers used Google Earth images to estimate the number of fishing weirs along the Persian Gulf coast.

Large fish traps in the Persian Gulf could be catching up to six times more fish than what’s being officially reported, according to the first investigation of fish catches from space conducted by University of British Columbia scientists.

Using satellite imagery from Google Earth, UBC researchers estimated that there were 1,900 fishing weirs along the coast of the Persian Gulf during 2005 and that they caught approximately 31,000 tons of fish that year. The official number reported by the seven countries in the region to the United Nation’s Food and Agriculture Organization was 5,260 tonnes. The study was published today in the ICES Journal of Marine Science.

 

saxplayer00o1's picture
saxplayer00o1
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$150,000 in debt per taxpayer

National debt today is $17,219,110,204,136.29

National debt clock shows $17.197 trillion and as a result shows just $149,827 in debt per taxpayer.

 

Nervous Nelly's picture
Nervous Nelly
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Shocking article

Lord save us from this. It's already enough that I have to read  all the packaging to see if there is corn or soy because they won't allow GMO labeling. Not even in Canada yet.

NN

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sand_puppy
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Corporate Control of Societies

I have often wondered whether the ruling class is organized.  Is the accelerating concentration of wealth and power in their hands simply an epiphenomenon that grows out of the greedy practices of each individual or is it a conscious strategy.  This article on the Trans-Pacific Partnership posted by pinecarr above suggests that they are organized, and on a massive scale.

Recall that before Hitler invaded his first country or executed the first of millions of "undesirable" human beings, he first took control of the legal structure of Germany, modified the constitution to concentrate power in the executive branch and created emergencies to justify "temporary" suspension of laws guaranteeing civil liberties (while he dealt with the "communist threat" to their great nation).

Once it was time to start his overt global domination and "social clean-up" projects, the legal structure was in place.  Law enforcement and military could then be legally used to pursue his goals.

Hotrod's picture
Hotrod
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sand_puppy wrote: I have
sand_puppy wrote:

I have often wondered whether the ruling class is organized.  Is the accelerating concentration of wealth and power in their hands simply an epiphenomenon that grows out of the greedy practices of each individual or is it a conscious strategy.  This article on the Trans-Pacific Partnership posted by pinecarr above suggests that they are organized, and on a massive scale.

Recall that before Hitler invaded his first country or executed the first of millions of "undesirable" human beings, he first took control of the legal structure of Germany, modified the constitution to concentrate power in the executive branch and created emergencies to justify "temporary" suspension of laws guaranteeing civil liberties (while he dealt with the "communist threat" to their great nation).

Once it was time to start his overt global domination and "social clean-up" projects, the legal structure was in place.  Law enforcement and military could then be legally used to pursue his goals.

Thanks for bringing this up.  We are still buying products from the manufacturers of the Werrmacht.  Hitler and his toadies are long gone, but the banks and corporations that built the war machine are still in business.  Interesting, isn't it?  Were they the ones actually in charge all along?

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pinecarr
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More on proposed multi-nat'l corp. Trans-Pacific Partnership

I found another article on the proposed Trans-Pacific Partnership (TPP).  Word to the wise: don't read it too soon before or after your Thanksgiving meal!!:p

"Trans-Pacific Partnership Agreement Runs Into Serious Resistance Due to Public Scrutiny", a Nov. 19 post as the Huffington Post at:

http://www.huffingtonpost.com/mark-weisbrot/trans-pacific-partnership_b_4303066.html

"The proposed Trans-Pacific Partnership agreement among 12 governments, touted as one of the largest "free trade" agreements in U.S. history, is running into difficulties as the public learns more about it. Last week 151 Democrats and 23 Republicans in the House of Representatives signed letters to the U.S. chief negotiators expressing opposition to a "Fast Track" procedure for voting on the proposed agreement. This procedure would limit the congressional role and debate over an agreement already negotiated and signed by the executive branch, which the Congress would have to vote up or down with no amendments.

Most Americans couldn't tell you what "Fast Track" means, but if they could they would certainly be against it. As one of the country's leading trade law experts and probably the foremost authority on Fast Track, Lori Wallach of Public Citizen's Global Trade Watch, put it: Fast Track "authorized executive-branch officials to set U.S. policy on non-tariff, and indeed not-trade, issues in the context of 'trade' negotiations."

This means that Fast Track, which first began under Nixon in 1974, was not only a usurpation of the U.S. Congress' constitutional authority "to regulate commerce with foreign nations (Article I-8)." It also gave the executive branch -- which is generally much less accountable to public pressure than is the Congress -- a means of negating and pre-empting important legislation by our elected representatives. Laws to protect the environment, food safety, consumers (from monopoly pricing), and other public interest concerns can now be traded away in "trade" negotiations. And U.S. law must be made to conform to the treaty.

How ironic that this massive transfer of power to special-interests such as our giant pharmaceutical or financial corporations has been sold to the press as a means of holding "special interest" groups -- who might oppose tariff reductions that harm them but are good for everyone else -- in check."

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Jim H
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We the people

How ironic that this massive transfer of power to special-interests such as our giant pharmaceutical or financial corporations has been sold to the press as a means of holding "special interest" groups -- who might oppose tariff reductions that harm them but are good for everyone else -- in check."

Are apparently a special interest group now..... we must be kept in check.  What's up is down.  

Mots's picture
Mots
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"Corporate Control of Societies"

I agree completely with your observations and conclusions that "TPTB" are truly "collectivized" with their own agenda and organized activities. I see evidence of this in two aspects:

1. the American legal system in recent years is becoming  completely  revamped "revised" to screw the common man (non-rich individual) and unfairly tip the scales (of justice, of taxes, of everything) towards the ruling elite.  I was astonished to see this even happen to the patent law (which I am most familiar with).
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2. Large company groups/organizations exist to exploit the national government as a tool to achieve their ends.  Everyone is familiar  with these. I know of at least one Asian country that held national, secret meetings where all major companies got together to collude on taking over specific industries world-wide.   This kind of thing is very common.  Some of Snowden's revelations in the present day indicate how Monsanto is using the American government to punish entire countries and geographical regions that refuse their GMO products.  And on and on. The Bilderburg Group is thought of by many to be at the top of the Elite controlled world pyramid, but I suppose, based on past experience, that a more successfully secret group  certainly would exist.  Look what happened to specific internet upload files and to portions of our mass media when Ron Paul was beginning to get good traction in his run for presidency.  They already control the internet but are  not using that control unless absolutely necessary.  Remember when the Canadian Broadcast System aired a  special expose program on the control of gold price some months ago and it was impossible to download that program in real time into the United  States?  That is evidence of a very powerful control that is sparingly used, (and the final justification is American law , ususaly copyright or other intellectual property). 

This is an interesting topic that seems to be avoided (or filtered?) on this blog site, possibly because it is so hard to believe and seems like paranoia.  But you have to be a trained lawyer and really pay attention to details to really see what is happening on the legal side.  Legally,  this is mostly done by small, simple procedural tricks that are difficult  to see unless you know how it works (stuff like imposition of unreasonable time limits that must be followed to keep your rights, that in a civil country are not limited).

The upside to all this is that at some point, after America falls down to 3rd world levels,TPTB will finally understand and care about the fact that wealthy, (and interesting, desirable, livable) societies are created by free men who are encouraged to do their best because they are not getting screwed by the elite controlled  system.  This latter theme will be "discovered" and popularized, perhaps by  the rich, spoiled children of the present elite. Or many they will choose to make one or two countries an unspoiled paradise where they dont have to worry so much about walking around with bodyguards.  Singapore comes to mind in this respect.

Of course, the solution to this remains the same: development of self-sustainable small communities. The bankers - elite would wither away if all wealth is created and consumed locally.  Lets get on with it! 

Mots

 

 

SANDPUPPY said:

"I have often wondered whether the ruling class is organized.  Is the accelerating concentration of wealth and power in their hands simply an epiphenomenon that grows out of the greedy practices of each individual or is it a conscious strategy.  This article on the Trans-Pacific Partnership posted by pinecarr above suggests that they are organized, and on a massive scale.

Recall that before Hitler invaded his first country or executed the first of millions of "undesirable" human beings, he first took control of the legal structure of Germany, modified the constitution to concentrate power in the executive branch and created emergencies to justify "temporary" suspension of laws guaranteeing civil liberties (while he dealt with the "communist threat" to their great nation).

Once it was time to start his overt global domination and "social clean-up" projects, the legal structure was in place.  Law enforcement and military could then be legally used to pursue his goals.

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Corporate Australia.

Check out this website. Observe where the "Commonwealth of Australia" is registered.

Or this little tete a tete with the Government.

Abusive? I should think so!

Arthur Robey's picture
Arthur Robey
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Posts: 3936
The man with no corpus collosum.

This is the result of someone born with no connections between the two brains.

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