Daily Digest

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Daily Digest 12/6 - Detroit Pensions Aren't Safe, Burma's DIY Oil Drillers

Friday, December 6, 2013, 11:15 AM

Economy

Detroit's bankruptcy shows even pensions aren't safe (westcoastjan)

At least, though, Illinois is trying to respect the pension deals it already signed, and is focusing the financial pain on younger workers, who still have the option of finding work elsewhere and retaking control of their futures.

Illinois has also raised taxes to pay for its pensions, provoking the fury of conservatives.

Saskatchewan premier blasts Potash Corp for cutting jobs while preserving dividend for shareholders (westcoastjan)

About 440 people will lose their jobs in Saskatchewan. Most of those positions are at PotashCorp’s Lanigan division, where one of two mills is to suspend production by the end of the year, and at its Cory division where production will be reduced. Cuts will also be made at the Saskatoon headquarters.

About 130 people in New Brunswick also will be out of a job. The rest of the cuts are to occur outside Canada, including more than 435 in the United States.

Blackstone Unit Wins in No-Lose Codere Trade: Corporate Finance (cmurray)

The company is 51 percent-owned by Masampe Holding BV, a company controlled by members of the founding Martinez Sampedro family, according to a statement on its website citing December 2012 data. The remainder of the shares are listed on the Madrid stock exchange and about 18 percent are owned by the Martinez Sampedro family, board members and management.

Alex Stanczyk: Physical Supply Never Been Tighter (Ivo M.)

Wednesday I had the privilege again to interview Alex Stanczyk, Chief Market Strategist for the Anglo Far- East group of companies, who just returned from a trip to Switzerland. Alex confirmed to me the distribution of gold from west to east is not slowing down whatsoever. Refineries in Switzerland are still working 24 hour a day to cast bars for China, sometimes having difficulties sourcing the gold..

Canada’s government debt problem: The numbers just don’t add up (westcoastjan)

Canada’s gross government debt is higher than in either the United States or the EU.

This Commercial Should Make Every Parent Vow to Never Shop at Toys“R”Us (westcoastjan)

This one commercial should be enough to make every parent vow to never ever again shop at Toys“R”Us. The spot, airing in numerous markets coast to coast, suggests that trees are boring and nature sucks while a stroll through the plastic corridors of Toys“R”Us is just what young minds need to stimulate their inner creativity and happiness. It views like satire but it’s no joke. Join Climate Parents in telling Toys“R”Us to stop pushing anti-environmental messages on our kids.

Rare material shortages could put gadgets at risk (westcoastjan)

The scope for serious disruption because of material shortages is increasingly troubling technology companies.

Rare materials are expensive to extract, and their processing comes with considerable environmental concerns.

Insight - Fukushima water tanks: leaky and built with illegal labor (pinecarr)

The Okinawa crew was recruited by Token Kogyo, an unregistered broker, and passed on to work at the Fukushima plant under the direction of Tec, a larger contractor which reported to construction firm Taisei Corp, records show. That practice of having workers hired by a broker but managed by another contractor is banned under Japanese law to protect workers from having their wages skimmed and to clarify who is responsible for their safety.

Fukushima Clean-Up Chief Admits Contaminated Water will be Dumped into Ocean (James S.)


ABC recently held an exclusive interview with Dale Klein, the former chairman of the US Nuclear Regulatory Commission (NRC) and now chairman of the Fukushima Monitoring Committee, in which he admitted that many more accidents are bound to happen at the stricken nuclear site before the clean-up is finished, and that the contaminated water collected will eventually have to be dumped into the sea.

Meet Burma's DIY oil drillers (westcoastjan)

A BBC photo slideshow

ALEC calls for penalties on 'freerider' homeowners in assault on clean energy (Amanda)

Over the coming year, the American Legislative Exchange Council (Alec) will promote legislation with goals ranging from penalising individual homeowners and weakening state clean energy regulations, to blocking the Environmental Protection Agency, which is Barack Obama's main channel for climate action.

Peak Phosphorous: Crisis in the Making or Radical Opportunity? (Amanda)

Phosphorous is element 15 on the periodic table, and was first isolated from human urine (where it is still found in abundance, as we shall discuss shortly!) in 1669 by a German alchemist, Hennig Brandt, while he was trying to find the substance that would turn minerals into gold. Phosphorous is perhaps more valuable than gold: it is present in our teeth and bones and is known to gardeners and farmers as one of the three major nutrients needed by plants along with nitrogen and potassium.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/5/13

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."

3 Comments

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2882
Fukushima

Japan whistleblowers face crackdown under proposed state secrets law

Based on their actions, Japan's leadership appears to be cracking badly under the building economic/Fukushima pressures.

Why all the secrecy surrounding Fukushima, unless there's something bigger going on?

If these exterior pictures are correct (link below), someone please tell me why one shouldn't conclude that the spent fuel pool contents exploded and melted down back in early 2011?  Occam's razor and all... 

http://www.bing.com/images/search?q=fukushima+reactor+4+pictures&qpvt=fukushima+reactor+4+pictures&FORM=IGRE#a

sand_puppy's picture
sand_puppy
Status: Diamond Member (Online)
Joined: Apr 13 2011
Posts: 2032
We won't be hearing much more about Fukushima...

Thanks Time2help, (and BSV and others who have kept us up-to-date on this topic)

Here is a somewhat biting summary of the new state secrets law being passed in the Japan parliament this morning.  From zerohedge.com   Japan, it seems, channels George Orwell.

Shinzo Abe secured final passage of a bill granting Japan’s government sweeping powers to declare state secrets.  The right to know has now been officially superseded by the right of the government to make sure you don’t know what they don’t want you to know.

 

The first rule of the pending Japan’s Special Secrets Bill is that what will be a secret is secret.

Even though exactly what subjects are secret is secret, journalists asking or writing about the secret secret topics can be prosecuted.

 

Legal experts note that even asking pointed questions about a state secret, whether you know or don’t know it’s a secret, could be treated as “instigating leaks” and the result in an arrest and a possible jail term up to five years. Of course, the trial would be complicated since the judge would not be allowed to know what secret the accused was suspected of trying to obtain.  And of course, trials about state secrets, would by the nature of the law, also be secret trials and closed to the public.

 

And my favorite:

At this point in time, no one has really claimed authorship of the secrecy bill. The author is a secret. 

George Washington covers this development this morning: 

Japan Falls Back Into Fascism

Is this need for secret secrets connected with the new development that the radioactive water stored at the Fukushima site is going to be released back into the ocean in a "controlled" fashion?  

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4235

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