Daily Digest

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Daily Digest 1/30 - Ukraine 'On Brink Of Civil War,' Stormy Times For Emerging Markets

Thursday, January 30, 2014, 10:46 AM

Economy

Two top American bankers commit suicide in London as one jumps 500ft to his death from JP Morgan skyscraper and another hangs himself in luxury home (Nervous Nelly)

Another Canary Wharf worker who could see where the man fell told the Evening Standard: 'It’s upsetting what’s happened but the thought of somebody lying up there for four hours is awful.

'I got into the office at about 8.10 and the body was on the floor and there were police up there, and they put a white cover on him.

The Third Horseman? (westcoastjan)

Following the banking crisis of 2008 and the euro crisis of 2010, some see what's happening in the world's less mature economies as the predictable start of the third leg of the global financial meltdown that began six years ago, or the third horseman.

It is a bit previous for such gloom, but what is the argument?

Three charged with stealing food from skip behind Iceland supermarket (AW)

Police arrested the men as they left the area with a holdall and trolley containing food. The total value of the items taken allegedly amounted to £33 and they were of low value, consisting of tomatoes, mushrooms, cheese and Mr Kipling cakes.

Initially arrested for burglary, the three men were charged under an obscure section of the 1824 Vagrancy Act, after being discovered in "an enclosed area, namely Iceland, for an unlawful purpose, namely stealing food".

Stormy times for emerging markets (westcoastjan)

But whatever the reason, recovery appears to be taking hold in some developed economies. Of the large ones, the US has the most advanced recovery and so the Federal Reserve has made a start on cutting back on the post-crisis policies.

That is now causing instability for emerging market currencies. To see why, let's wind back a little to what happened when the policies were in full swing.

And Now, Even Zimbabwe Opines On The Emerging Market Crisis (Arthur Robey)

One would think Zimbabwe knows about failing currencies. But for now, all eyes on the USDJPY which is the only risk-setter that matters.

Max Mosley: Google Is So 'Arrogant They Do Whatever They Like' (westcoastjan)

For years, Google continued to list search results containing links to illegal photos of Mosley. He sued in both France and Germany to have the images automatically filtered out of search results. In November 2013, a Paris court ordered Google to filter out nine images. The California-based company says it has already started the appeals process against that ruling. On Friday, a Hamburg regional court issued a similar verdict. It ordered Google to block six images showing the racing boss in a compromising setting with multiple women.

After the ruling, Mosley sat down with SPIEGEL to discuss his battle against Google and his efforts to protect his right to privacy.

Mixer mortgages make Vancouver home ownership possible (westcoastjan)

The families purchased a 3,000-square-foot home for $800,000. The Thrifts live on the top floor, with three bedrooms and a playroom, while the Moreys live in the basement. Both families share the living room, dining room and kitchen.

They also share the cooking, cleaning, renovations, taxes and utilities — even babysitting.

Ex-president warns Ukraine 'on brink of civil war' (westcoastjan)

At least five people have been killed and a number of government buildings across the country have been occupied. Hundreds of people remain on the streets of the capital, Kiev.

German Chancellor Angela Merkel urged Russian President Vladimir Putin on Wednesday to push for a "constructive dialogue" between the opposition and government to defuse the crisis.

Why Slashing Corporate Tax Rates Was Detrimental to Ordinary Canadians (westcoastjan)

As a labour leader, I am particularly concerned about the number and quality of jobs that are being created in Canada, and the news is not good. Officially, there were 1.38 million unemployed Canadians in December 2013. That compares to 1.1 million unemployed in October 2008, just prior to the recession. Today's official unemployment rate of 7.2 per cent remains well above the pre-recession rate of 6 per cent -- but the real rate is much higher.

The crisis of subprime nations has started: Stockman (Herman J.)

“The idea that somehow we’ve deleveraged and we’re healthier is a Wall Street myth designed to make you feel more comfortable so that you go in and buy some stocks that are vastly overvalued so the game can continue going on.”

Why Turning a Buck Isn't Easy Anymore for Oil's Biggest Players (westcoastjan)

Shell's quest for new reserves has seen it pump billions into money-devouring plays such as its Athabasca Oil Sands Project in northern Alberta and the Kashagan oilfield, a deeply troubled project in Kazakhstan. It's even tried deep water drilling in the high Arctic. That attempt ended when the stormy waters of the Chukchi Sea crippled its Kulluk drilling platform, forcing the company to pull up stakes.

Gulf Coast squeeze looms for Canadian oil producers, expert says (westcoastjan)

Calgary-based Cenovus Energy Inc. has a 50% stake in a 146,000-bpd refinery in Borger, Tex., but that is dwarfed by a Saudi joint venture with Royal Dutch Shell Plc. which owns and operates the Port Arthur refinery in Texas, the largest refinery in North America with a capacity of 600,00-bpd, apart from two other refineries on the Gulf Coast with a combined capacity of 465,000-bpd.

Post-Energy Reform, Mexico Signs First Oil Deal with Russia (James B.)

Russia's Lukoil has announced an agreement with Mexico's state-run oil company Pemex for exploration, extraction and cooperation on environmental best practices.

The cooperation memorandum was agreed on the sidelines of the World Economic Forum in Davos, Switzerland, and represents the first foreign partnership to be forged since Mexico moved to reform its energy sector in December and to Pemex’s 75-year state monopoly over exploration and production.

Maple Syrup Revolution: A New Discovery Could Change the Business Forever (Amanda)

Once in the sugarhouse, most large scale operations are now equipped with a reverse-osmosis machine that then removes a large portion of the water from the sap, making the final step of boiling it down to syrup more efficient. The process has been modernized considerably since pioneers learned the practice from Native Americans several centuries ago. The one thing that has not changed is the necessity of a mature forest, preferably with a large concentration of maple species.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/29/14

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."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
sapsucker's picture
sapsucker
Status: Member (Offline)
Joined: Oct 2 2011
Posts: 10
Maple syrup revolution

I don't see this working out on a large scale but I could be wrong. We tap 20,000 taps and know the work involved. I don't see cutting tops off and trying to seal bags on a large number of trees. The industry has been able to produce large amounts of syrup because of cheap plastic tubing. Some day we may be back to buckets on trees.

andeee's picture
andeee
Status: Member (Offline)
Joined: Nov 28 2009
Posts: 21
maple syrup

If you cut the tops off wouldn't the trees just die, giving you at best one season?

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