Daily Digest

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Daily Digest 1/8 - Nearly Half Of Greek Incomes Below Poverty line, Inside Fukushima’s Ghost Towns

Wednesday, January 8, 2014, 10:57 AM

Economy

Crisis: Greece, nearly half of incomes below poverty line

Over 44% of the Greek population had an income below the poverty line in 2013, as daily Kathimerini reports citing estimates by the Public Policy Analysis Group of the Athens University of Economics and Business (AUEB).

The AUEB researchers also found that last year 14% of Greeks earned below the adequate living standards, compared with 2% of the population four years ago.

Lansing homeless shelters reach overflow status as record cold temperatures take hold

The shelter, which has a capacity of 66, averaged 77 people per night in December. The second half of the month, which included the Dec. 22 ice storm, saw the shelter averaged 83 people per night.

The January numbers are more startling. Since New Year's Day, the shelter has averaged 93 people per night, including 101 last night during the snow storm.

Record number of homeless people seek shelter at Pacific Garden Mission (Chicago)

The 155,000-square-foot Pacific Garden Mission, the city’s largest homeless shelter, has been around since 1877, but it was this week’s brutal cold that brought an all-time high of 1,050 homeless Chicagoans seeking refuge overnight.

Argentine peso hits new lows as food price controls take effect

Argentina's peso slid to an all-time low on Tuesday as supermarkets implemented food price freezes in an agreement with the government aimed at protecting poor families from one of the world's highest inflation rates.

India’s gold tax weighs heavy on brides

Gold prices in India, which imports nearly all its gold, have risen 50 percent during the past three years to about $1,400 an ounce.

Thanks to the new tax and weaker rupee, that’s about a 20 percent premium over the world market price, now hovering at nearly $1,200 an ounce.


Jobs become more elusive for recent U.S. college grads -NY Fed

About 70 percent of U.S. students who graduated in 2012 had student loan debt, with the average borrower owing $29,400, up from $26,000 the previous year.

The underemployment rate for recent graduates is also higher than in the previous two decades. That rate was 34 percent in 2001. By 2012, it had risen to 44 percent.

China's crackdown on risky lending raises economic growth fears

Beijing is keen to address growing financial risks from an explosion in debt and appears ready to accept the sharp slowdown in growth that could follow the decision to enforce lending limits on the shadow banking industry.

A fall from last year's estimated 7.6% GDP growth to below 7% could have serious consequences for the economy and social stability, especially after riots in 2012, which were directed at Japanese goods but were triggered by a sharp slowdown in output and wages.

Health officials respond to beach radiation scare

In the following days, other amateurs with Geiger counters began posting similar videos online. The videos follow other alarming news last month that starfish were mysteriously disintegrating along the West Coast, a trend that has not been linked yet to any cause. Past computer simulations had indicated that radioactive cesium-137 from the Fukushima reactors could begin appearing on West Coast shores by early 2014.

Inside Fukushima’s ghost towns

Leading up to the third anniversary of the nuclear disaster, America Tonight journeyed to the affected areas, which are separated into zones of higher and lower radiation risk. In the hardest-hit area, known as the “exclusion zone,” the streets remain virtually empty, eerily silent and frozen in time at the moment residents fled the quaking earth and incoming sea. The garbage and debris that litter the area defy the kempt and pristine neighborhoods for which Japan is famous.

J.P. Morgan banker joked that Madoff’s accounting firm ‘might be a car wash’

Others within J.P. Morgan and the predecessor banks that later became J.P Morgan started raising questions about Madoff beginning in the mid-90s, and one senior executive joked via email that they should visit Madoff’s accounting office to make sure it wasn’t a car wash.

Employees then yanked out most of the bank’s own money invested with Madoff, and congratulated themselves after his arrest on the money they’d saved the bank.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/7/14

Provided daily by the Peak Prosperity Gold & Silver Group

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saxplayer00o1
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saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066

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