Daily Digest

Image by Marcin Wichary, Flickr Creative Commons

Daily Digest 6/27 - What Crude Oil Says About Silver, The Right To Be Forgotten

Friday, June 27, 2014, 9:13 AM

Economy

Detroit Needs Residents, but Sends Some Packing (jdargis)

Other cities wrestle with unpaid taxes, too, but the size of Detroit’s problem is staggering. Several factors have brought the city to the point that crucial revenues are not being collected and thousands of houses are being taken away each year — not by banks, for failure to make mortgage payments, but by the government, for failure to pay taxes. Contributing are soaring rates of poverty, high taxes despite painfully diminished city services and a long pattern of lackadaisical tax collection by the city.

The $124,421 Man (jdargis)

But in that basement on that summer day, the $12,000 grant had evaporated, not to mention the $48,000 we had anticipated when all four years of admittedly hypothetical grants were put together. Instead, we had nothing but more debt. That expected $50,000 in loans had metastasized to $100,000. Suddenly, I was on track to be in the 3 percent — that’s how many undergrads graduate with six-figure student loan debt, according to a study of government stats by Mark Kantrowitz, a financial-aid expert. (Thirty-seven percent of Tufts students have a combination of loans and scholarships, and they graduate with an average of $23,048 in debt.)

What Crude Oil Says About Silver (GE Christenson)

Crude oil prices have many reasons to explode higher and few to drop lower. The trend has been up for more than a decade. Central banks will print, politicians will instigate more wars and invasions, and each euro, yen, and dollar will purchase even less crude oil and gasoline. It is business as usual, but with an extra dollop of chaos, war, and price inflation tossed into the mix.

Why The COMEX Is Corrupt (Taki T.)

The CME owns and operates the COMEX and other exchanges as a publicly-traded for-profit corporation. As such, its main motivation and purpose is to generate profits for shareholders. While there is nothing wrong with that in the abstract, a commodity exchange is a unique financial institution in that such exchanges, at least in the US, must be authorized by Congress and regulated by the CFTC. In addition, there is a strong front line self-regulatory responsibility bestowed on US commodity exchanges, like the COMEX, to make sure all trading is on the up and up.

Google begins removing links under “right to be forgotten” ruling (jdargis)

Complainants have to provide their name and e-mail address, the country whose law applies to the request, the name of the person featured in the relevant search results, and a list of every URL they want taken down. The key part of the form is the complainant's explanation for the takedown since, as Google notes, the EU ruling only relates to information in its index that is "inadequate, irrelevant or no longer relevant, or excessive in relation to the purposes for which they were processed."

When The Herd Turns (June C.)

Current best practices in risk management work only when correlations are stable. At turning points historical relationships between assets break down. The only way to effectively anticipate future risk factors is by understanding root macroeconomic causes.

Dimples Are Cute, But Can They Also Save Fuel? (James S.)

Golf balls aren’t dimpled for mere cosmetic reasons. The pattern of tiny divots actually reduces drag by cutting air resistance in half. But no matter how powerful your swing, there’s only so hard you can hit a golf ball, and just so fast you can make it fly. In fact, a golf ball actually can go too fast to take advantage of its dimples because at high speeds, the dimples’ effect reverses.

The Farmland Boom Appears To Be Over (jdargis)

Farm incomes soared from 2009 through 2013, said Nathan Kauffman, an economist at the Kansas City Federal Reserve Bank. Both crop prices and land values “increased dramatically during that time.” Land on average gained more than 20 percent a year in major crop-producing states. Things were different for livestock producers, where profits sank largely thanks to high feed prices. Those prices are now falling.

Gold & Silver

Click to read the PM Daily Market Commentary: 6/26/14

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

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
8 in 10 SWAT Raids Were Only To Investigate Suspected Criminals

New ACLU Report Takes A Snapshot Of Police Militarization In The United States (June 24, 2014)
"Eight in 10 SWAT raids were not initiated to apprehend a school shooter, hostage taker, or escaped felon (the common justification for these tactics), but to investigate someone still only suspected of committing a crime."
http://www.washingtonpost.com/news/the-watch/wp/2014/06/24/new-aclu-report-takes-a-snapshot-of-police-militarization-in-the-united-states/

Poet

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4064
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
They wouldn't, would they?

With all this malarkey about the third economy getting beyond my powers of comprehension, how about a little old fashioned gutter scat?

Over in the comments at ZH I found this interesting little snippet. Apparently Earthquake track recorded an earthquake at zero depth at the very same X,Y,Z & T coordinates (the same moment and position) that the BP oil spill stopped.

Better hurry over to the links before the dog eats the hard drive. (If he is even bothered to- this is the new normal)

EDIT: Sorry. I should have checked. The zero depth earthquake happened over land on August 2nd 2010.

Well declared "effectively dead"

Transocean's Development Driller III started drilling a first relief well on 2 May. GSF Development Driller II started drilling a second relief on 16 May.[88][89][90] On 3 August, first test oil and then drilling mud was pumped at a slow rate of approximately 2 barrels (320 L) per minute into the well-head. Pumping continued for eight hours, at the end of which time the well was declared to be "in a static condition."[91] On 4 August, BP began pumping cement from the top, sealing that part of the flow channel permanently.[92]

My Bold.

Google Earth shows the position to be some sort of slimes dam.

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1513
More money than crime

Good find Poet!

8 in 10 SWAT Raids Were Only To Investigate Suspected Criminals

New ACLU Report Takes A Snapshot Of Police Militarization In The United States (June 24, 2014)
"Eight in 10 SWAT raids were not initiated to apprehend a school shooter, hostage taker, or escaped felon (the common justification for these tactics), but to investigate someone still only suspected of committing a crime."
http://www.washingtonpost.com/news/the-watch/wp/2014/06/24/new-aclu-report-takes-a-snapshot-of-police-militarization-in-the-united-states/

Poet

As an observer inside a police dept, it never ceases to amaze me the knuckleheaded things I hear about that police (and especially SWAT units) do.  I estimate that this is 60% due to monumentally poor judgment and oversight by police commanders, and 40% due to a condition I call having "more money than crime." I won't comment on the issue of poor judgment/oversight.

Some departments are swimming in money and free time unencumbered by demands on both money and time to respond to real crime as it happens.  As a result, these departments have plenty of money to buy all kinds of cool SWAT stuff and plenty of money to train regularly with it and especially to go on "missions" of dubious wisdom and need.  A department that has difficulty responding to crimes in progress (robberies, shootings, etc.) in less than 10 minutes doesn't have time to pull officers off the street to kick in doors where someone MIGHT be growing marijuana.  But a department that hasn't had a shooting in three months has officers with plenty of time on their hands to get into "other stuff."

You won't hear about very many of these dubious SWAT raids in cities where police are overwhelmed by crime and struggling with inadequate budgets and personnel levels.  You won't hear about many of these raids in places like Detroit, Flint, Philadelphia, San Bernardino, etc.  My department is unable to provide some of the basic essential equipment and the City is allowing our manpower levels to be stripped by attrition.  Our SWAT can't keep up with the active shooters and violent felony arrest warrants, so you won't hear many stories of SWAT abuse from here.

The solution to this part of the problem is heading our way whether we like it or not: economic disaster will strip many cities and towns of the money and free time necessary to go on dubious SWAT raids.

Tom

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments