Daily Digest

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Daily Digest 1/29 - Venezuela's Chefs Get Creative, French Unemployment At Record High

Wednesday, January 29, 2014, 11:49 AM

Economy

Lew: Debt-limit likely to be hit by late February

In a meeting with House Democrats, Lew "noted that Treasury's forecasts show no reasonable scenario in which extraordinary measures would last for an extended period of time and that those measures will likely be exhausted by late February," the spokesman said. House Repubicans are opposed to a "clean" debt limit increase and the White House is resisting any negotiations about what measures could be included in the legislation to garner Repubican support. Treasury will begin using accounting gimmicks to avoid the debt ceiling on Feb. 7 unless a deal is reached.

Toyota to curb Japan output in April as tax hike kicks in

Toyota Motor Corp (7203.T) plans to curb daily vehicle output in Japan by 15 percent in April from a year earlier as it adjusts for a dampening of demand from a national sales tax rise, a source familiar with its production plans said on Tuesday.

Why bottom-fishing hedge funds may soon turn away from Greek banks

Additionally, the outlook on bad loans is calamitous, with some predicting that non-performing loans will reach 40 percent at the end of the year, or 85 billion euros. Bad loans are not expected to decelerate until the end of the first quarter of 2015.

Detroit photographer offers blight tours

His backdrops are the blighted eyesores of the city. When he's not clicking the shutter himself, he's playing tour guide. If you're wondering just who would pay Welter more than $50 a person to take them to abandoned structures, some come by the busloads.

Vets push Congress for fix to pension cut

More than a dozen bills have been introduced in both chambers to repeal the cut, which reduces the annual cost-of-living adjustment (COLA) by 1 percentage point below inflation for retirees younger than 62. The change would take effect in December 2015.

Rising risk that German court will block Bundesbank rescue for Southern Europe

The European Central Bank's back-stop plan for southern Europe - known as the OMT - has never been activated or tested. The mere pledge to do "whatever it takes" was enough to calm the bond markets in July 2012. However, this rhetorical effect works both ways. If markets start to doubt whether the OMT really exists, confidence could evaporate again.

S&P Downgrades Ukraine Credit Grade

The firm cut the Ukraine's long-term foreign-currency sovereign credit rating by one notch to triple-C plus from B-minus. "We now assess Ukraine under our criteria as exhibiting characteristics of a 'distressed civil society with weakened political institutions,' diminishing the government's capacity to maintain timely debt service," the firm said.

In China's Hugely Indebted Cities, Some Big Bills Are Coming Due

In recent years, rampant borrowing has driven a significant chunk of China's economic growth. The bill is now becoming clearer — and it's big. Late last year, China revealed that local governments owe nearly $3 trillion – more than the gross domestic product of France, the world's fifth-largest economy.

One in Four U.S. Families Struggles to Pay Medical Bills

The Kaiser Family Foundation study found that 70 percent of people reporting problems with medical debt were already insured. Cost-sharing was the leading contributor to the debt, as typical out-of-pocket costs were higher for health bills than the amount of cash most households had available.

Argentina Warns of Speculative Attack on Emerging Market Currencies

Argentine President Cristina Kirchner's government accused big business and the media Tuesday of orchestrating speculative attacks against emerging market currencies like the Argentine peso, a day after her government started injecting more U.S. dollars into the economy in an attempt to calm nerves after last week's devaluation.

3,000kg of gold being smuggled in a month, admits Chidambaram (India)

Finance minister P Chidambaram on Monday acknowledged a spurt in gold smuggling in the wake of higher duties and other curbs on the import of the yellow metal into the country. While estimating illegal shipments of up to 3,000kg in certain months — a record by all accounts — the minister justified the restrictions, citing high current account deficit

Thousands could face ‘mansion tax’ raid on £2m London homes

Tens of thousands of Londoners face being hit with a “mansion tax” on homes worth more than £2 million under a banded system imposing heftier levies on the more expensive properties.

Midwest states declare emergency as cold blast worsens propane shortage

Propane is used by more than 12m households across the country, according industry statistics, and its shortage has led to a state of emergency being declared in more than 30 states. Prices are up more than 17% from a year ago, according to the US Energy Information Administration.

Devaluation spurs 30% rise in prices (Argentina)

Consumer prices had risen three percent in January before the devaluation, and inflation will quicken to more than 30 percent this year, according to Lorenzo Sigaut, the head economist at the Ecolatina research company in Buenos Aires. “This surprised us all and creates serious uncertainty since you don’t know where the exchange rate is going,” Sigaut said in a telephone interview. “This is a government that continues to deny inflationary problems but now has to win the battle of expectations.”

No flour? No fish? Venezuela’s chefs get creative amid shortages

“I haven’t been able to buy wheat flour or corn flour for more than a month. I’m working with what I had last year,” said Eduardo Castaneda, 45, owner of La Guayaba Verde, or The Green Guava, in Caracas, which offers a modern spin on traditional Venezuelan food.

French Unemployment At Record High

The number of people registered as unemployed rose by 10,200 or 0.3 percent in December to reach 3.3 million, the highest since records began in 1996. From the previous year, unemployment increased 5.7 percent.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/28/14

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: 4167
saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
Bank to Depositor: It’s Not Your Money! (McAlvany)

Bank to Depositor: It’s Not Your Money! (McAlvany)

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
Argentines use memories of painful past for ways to cope with th

Argentines use memories of painful past for ways to cope with the current economic turmoil

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
How to get Ahead.

Yes! Now I know how to get a head.

Many compounds including iso-alpha-acids from hops and certain metal ions help stabilize these structures. However, fats and detergents tend to destabilize the bubbles and cause the foam to collapse. This is why adjuncts that are high in fat including oats and eclectic brewing spices with high oil contents such as coffee beans tend to decrease foam. Also residual soap and detergents in carboys, kegs, and bottles will hurt beer foam. Settling out trub will decrease the amount of fatty acids in the beer. In contrast ingredients that are high in protein and glycoproteins will bolster beer froth. Some of the more common foam-positive ingredients include flaked wheat, flaked barley, wheat malt, and barley malt. Many brewers make a habit of adding a touch of wheat malt to every beer. At low levels the impact on flavor will be small while still imparting foam-positive characteristics.

Source.

So- I must rinse any soap out and add a little wheat and more hops..

Isn't the internet wonderful?

robie robinson's picture
robie robinson
Status: Diamond Member (Offline)
Joined: Aug 25 2009
Posts: 1192
Where to add this link

someone mentioned all the grain neccessary for a ruminant to synthesize protein. being a pasture farmer, almost exclusively i'm often offended by remarks that all humans need is....

i've already typed past my limit so i'll post a link here to help explain another world view.

http://www.resilience.org/stories/2014-01-29/more-cow-love-carbs-carbon-and-culture

there is sooo much more but alas i'm too busy enjoying my 200 cattle and 100 sheep to post/type

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