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Daily Digest 5/25 - The Return Of Pink Slime, Russia to supply China with gas for 30 years

Sunday, May 25, 2014, 11:36 AM

Economy

Jamie Dimon’s sinister P.R. ploy: What’s really behind JPMorgan’s Detroit investment (June C)

Beware of big banks bearing gifts. That note should be attached to JPMorgan Chase’s much-hyped planned investment of $100 million in the City of Detroit. The move is mostly an effort to boost the embattled bank’s public image, in a part of the country where they have deep roots. But corporate philanthropy like this also hopes for a return on investment – often in the form of the privatization of public infrastructure, which JPMorgan Chase certainly has in its sights.

The Solution To Record Meat Prices: The Return Of Pink Slime (jasonw)

A few months ago we reported that while the Fed is seeing nothing but hedonic deflation as far as the eye can see, food prices - for whatever reason but "certainly not" due to trillions in liquidity entering a close system so just blame it on the weather - were soaring to record highs. Among them was the price of beef, which in 2014 alone has soared by the most in over a decade. This led the US Department of Agriculture to warn of "sticker shock" facing home chefs on the eve of the Memorial Day holiday weekend, the unofficial start of the U.S. summer grilling season.

Why We’re Ungovernable, Part 9: Crime Becomes Growth (June C)

It might, however, make for some amusing reports down the road: “Italy’s prostitution sector exceeded Wall Street expectations in the Third Quarter while cocaine sales and car thefts were off slightly, noted Goldman Sachs analyst Vito Soprano…” You’d think the investment banks would have a pretty good feel for black-market trends, since they’re such active consumers of hookers and drugs.

Rickards: Janet Yellen’s Fed playbook (June C)

The U.S. Federal Reserve is opaque at the best of times. Even their jargon-filled efforts at transparency, called “forward guidance,” only add to the confusion about their intentions regarding monetary policy. Yet there are times when careful study of personalities and public statements combined with a good working knowledge of Fed models and methods can yield important clues about their future course of action. This is one of those times.

Energy

Russia to supply China with gas for 30 years

Russia has agreed to supply China with natural gas for 30 years from 2018 under a long-awaited deal struck Wednesday.

The two sides had been working on a deal for a decade, but the agreement has gained significance with Europe looking to reduce its dependence on Russian gas as relations with Moscow sour over the crisis in Ukraine.

Environment

7 States Running Out Of Water: 24/7 Wall St. (jasonw)

In seven states drought conditions were so severe that each had more than half of its land area in severe drought. Severe drought is characterized by crop loss, frequent water shortages, and mandatory water use restrictions. Based on data from the U.S. Drought Monitor, 24/7 Wall St. reviewed the states with the highest levels of severe drought.

Gold & Silver

Click to read the PM End of Week Market Commentary: 5/23/14

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."

2 Comments

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Putin?

Some time ago I asked the girls to help me find out if we still have Putin.

Well, it seems the Russians would like to know too.

Monday morning gotta run.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064

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