Daily Digest

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Daily Digest 3/31 - When Inequality Isn't, 'Worst Is Yet To Come,' Climate Panel Finds

Monday, March 31, 2014, 9:23 AM

Economy

Memorising the Bible and drinking 50 cups of coffee a day: From Darwin to Dickens, how history's biggest thinkers spent their days (cmartenson)

Using Mason Currey's book Daily Rituals: How Artists Work - which draws on diaries and letters from the thinkers themselves - designer RJ Andrews has mapped out the comings and goings of some of history's most important figures, right down to the hour.

From Mozart to Freud and Darwin to Dickens, the waking, working and, in some cases, procrastinating of history's greatest minds are laid out for scrutiny.

When Inequality Isn't (Nate)

We have spent three letters (so far) dealing with the topic of income inequality. The topic is everywhere in our daily conversation and in economic research. I’ve dealt with many of the facts of income inequality in these three issues and will try to conclude the topic this week. We’ve discovered so far that income inequality is a fact; however, income mobility has remained roughly the same over the last 40 years. That is, a person’s chances of rising from a lower stratum of wealth distribution to a higher stratum is approximately the same as it was in 1975.

Is Michael Lewis Right That the Markets Are Rigged? (jdargis)

Lightspeed Trading Former CEO Steve Ehrlich and Yale University’s Stephen Roach discuss high frequency trading on Bloomberg Television’s “Bloomberg Surveillance.”

Should You Be Living Off The Grid? (jdargis)

In this week's episode, David Weigel talks to Jesse Ventura, the former governor of Minnesota and current host of his own talk show for Ora.TV. Among the subjects: The wisdom of shooting down drones, why the media doesn't cover conspiracy theories, how many Americans should be living off the grid, and whether Ventura will make good on his quadrennial threat to run for president.

Panel’s Warning on Climate Risk: Worst Is Yet to Come (jdargis)

Organic matter frozen in Arctic soils since before civilization began is now melting, allowing it to decay into greenhouse gases that will cause further warming, the scientists said. And the worst is yet to come, the scientists said in the second of three reports that are expected to carry considerable weight next year as nations try to agree on a new global climate treaty.

New Climate Change Report Outlines Challenges for Global Agriculture (jdargis)

The list of farmers in the report who have already faced the pitfalls of climate change is a long one. Farmers in Bangladesh have watched rising waters. Arctic indigenous people have seen dwindling access to hunting grounds due to changing weather conditions. Small-scale farmers facing a 20-30-year period of drought in Ghana have stomached “emotional distress,” and a “sense of loss and belonging.”

US announces new efforts to reduce methane emissions (jdargis)

In addition to oil and natural gas drilling, methane is often released from coal mines as it's frequently found in association with the coal deposits. In fact, this methane is a significant safety hazard, since it can build up and trigger explosions. Equipment that currently removes the methane from the mine generally releases it to the atmosphere, but a number of mines have installed equipment that captures methane so it can be sold. The Bureau of Land management will be asked to find ways to encourage the adoption of this equipment in any mines on public land.

To Fight Climate Change, the Entire World Will Have to Eat Less Meat (jdargis)

Many in the agricultural industry are trying to cut emissions of nitrous oxide and methane (the latter being a mightily potent greenhouse gas). There's the general streamlining of processes to make meat and dairy production more efficient, for example. Then there are technical tweaks. One is occasionally draining the water from rice paddies, as microbes in flooded paddies generate a large amount of methane. Another is adding supplements to livestock feed to prevent the animals from belching so much. Gassy livestock is a serious atmospheric force; for instance, the fermentation taking place inside cows and sheep accounts for two-thirds of Australia's agricultural emissions.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/28/14

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."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4222
Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
Yes, the markets are rigged

The story of high frequency trading from :Flash Boys, a Wall Street Revolt

http://www.nytimes.com/2014/04/06/magazine/flash-boys-michael-lewis.html...

Dogs_In_A_Pile's picture
Dogs_In_A_Pile
Status: Martenson Brigade Member (Offline)
Joined: Jan 4 2009
Posts: 2606
Then unrig them....

If you don't use anything smaller than a 233 minute chart, you blow right through the impact of HFT algos....

Keep in mind, a lot of the HFT trading took/takes place in the first hour of the market day - that's why it's called "Amateur Hour".  Waiting until 1:33 PM for a trade entry decision helps negate HFT.

KugsCheese's picture
KugsCheese
Status: Diamond Member (Offline)
Joined: Jan 2 2010
Posts: 1469
HFT Computers and Fiber Optic

It didn't take much to figure out what was happening (this was well known in 2010).  That it happens in NJ is not surprising; is the Mob involved?   I wouldn't care about it if there were no bailouts.  But with TBTF Policy we need some simple regulations and mechanism (software/hardware) to make sure front-running is not a big part of the market.   HFT proponents always talk about how it reduces the spread but never the inflated overall cost and bigger correction later.

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