Daily Digest

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Daily Digest 3/16 - F.D.I.C. Sues 16 Big Banks, The Energy Basis Of Food Security

Sunday, March 16, 2014, 10:43 AM

Economy

F.D.I.C. Sues 16 Big Banks Over Rigging of a Key Rate (Nervous Nelly)

Four of the banks, Britain’s Barclays and Royal Bank of Scotland; Switzerland’s biggest bank, UBS; and Rabobank of the Netherlands, have paid about $2.6 billion to settle regulators’ charges of rigging Libor. The banks signed agreements with the Justice Department that allow them to avoid criminal prosecution if they meet certain conditions.

Machines that can learn could replace half of American jobs in the next decade or two: Oxford study (westcoastjan)

“We were able to get the information we needed after reviewing only 2.3% of the documents,” said Greene, a Minneapolis-based partner at law firm Stinson Leonard Street LLP. Artificial intelligence has arrived in the American workplace, spawning tools that replicate human judgments that were too complicated and subtle to distill into instructions for a computer. Algorithms that “learn” from past examples relieve engineers of the need to write out every command.

Quebec’s fantasy is Canada’s nightmare (westcoastjan)

PKP, as you know by now, is the monogram for Pierre Karl Péladeau. (He was actually named Carl, but he changed the spelling in honour of Karl Marx when he was in university.) He’s the most handsome and successful business mogul in Quebec, and now the star candidate for the Parti Québécois. He’s everything Pauline Marois is not, including glamorous, super-powerful, business-minded and charismatic. Separation wasn’t on the agenda until he showed up, but it is now.

Would you like to chew your arm off? Me too.

Why the future of health care may depend on tearing down the hospital (westcoastjan)

“We’ve been here too many times,” says his sister, Minerva Doss, who lives with her brother and takes time from work to be at his hospital bedside. “He comes in here all the time.”

That’s the problem. In Canada, the health-care system is designed for urgent medical situations, like heart attacks and accident trauma.

Many parents 'paying more for childcare than average mortgage' (westcoastjan)

The trust says childcare in England, Wales and Scotland is becoming increasingly unaffordable with a 27% rise in costs since 2009, while wages have remained static.

This is despite successive governments recognising its value to children, families, society and the economy and spending £6bn on supporting childcare every year, it adds.

Growing Wage Gap Makes Dollarama, Luxury Stores Winners (westcoastjan)

“Increasingly, whatever wage gains there are have been tilted to a select group of higher-paid sectors, leaving the median worker with leaner improvements,” they write.

“That extends a pattern going back more than a decade,” the authors note.

Swiss Bank Refuses To Give Client His Physical Gold (pinecarr)

Today Egon von Greyerz surprised King World News when he said that a client of a Swiss bank was unable to get their gold, even though they had deposited the gold in physical form, out of a Swiss bank. Below is what Egon von Greyerz, who is founder of Matterhorn Asset Management out of Switzerland, had to say in his interview.

The Energy Basis of Food Security (Eric G.)

As I walk out of my co-op I’m quickly reminded of the source of this food miracle: a nearby service station sells gasoline for $3.67 per gallon, and diesel for 30 cents more. These prices are high compared to what these fuels cost a decade ago, but they still provide astonishingly cheap energy. Given the high energy density of gasoline and similar industrial fuels, $3.67 per gallon equates to paying a busy agricultural laborer just under one cent per hour to do equivalent amount of physical work.1 It’s the extraordinarily cheap energy provided by industrial fuels, particularly nonrenewable fuels derived from crude oil, natural gas and coal, that powers the globalized, industrial food system that, week after week, year after year, delivers food to my co-op from the four corners of the Earth.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/14/14

Provided daily by the Peak Prosperity Gold & Silver Group

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2 Comments

rjs's picture
rjs
Status: Gold Member (Offline)
Joined: Aug 8 2009
Posts: 445
Ohio fracking quakes

comprhensive illustrated articles showing almost beyond a shadow of doubt that this week's earthquakes were connected to the fracking operations near the epicenters

 
 
KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1428
Re: Machines that can learn could replace half of American jobs

I am so sick of these articles/studies on machines replacing humans.  How did we get where we are?   There is a natural balance of machines and humans.  For example, on the macro level if too many humans lose jobs due to machines then there will be less customer demand for those products/services made.  Think about it.   On micro level, a company will introduce machines/technology/computers in order to gain a competitive advantage and increase productivity.   True productivity increase flow through to workers who can then have a better life.   Why doesn't it work anymore?  Government has distorted markets so much with bad regulations and money printing that life has become dysfunctional.

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