Daily Digest

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Daily Digest 7/8 - Earthquakes Linked To Fracking, The Everything Bubble

Tuesday, July 8, 2014, 8:56 AM


Welcome to the Everything Boom, or Maybe the Everything Bubble (jdargis)

“We’re in a world where there are very few unambiguously cheap assets,” said Russ Koesterich, chief investment strategist at BlackRock, one of the world’s biggest asset managers, who spends his days scouring the earth for potential opportunities for investors to get a better return relative to the risks they are taking on. “If you ask me to give you the one big bargain out there, I’m not sure there is one.”

Ukraine Rebels Are Retreating for Last Stand (jdargis)

Ukraine’s president, Petro O. Poroshenko, called off a cease-fire last week and vowed to defeat the rebels on the battlefield. But that has raised the prospect of protracted and bloody urban warfare with significant civilian casualties.

Class of 2008 Grads in U.S. Earned Average $52,000 Four Years On (jdargis)

The report surveyed 17,110 students about four years after they received their bachelor’s degrees in 2007-2008. The sample provides a nationally representative picture of the about 1.6 million students who completed requirements for a baccalaureate degree between July 1, 2007 and June 30, 2008.

“We wanted to paint the picture of how different decisions and those who come from different demographics shape what the differences are in terms of employment four years later,” Socha said.

The Most Annoying Problem in Computing Is Still Unsolved (jdargis)

These days, the gadgets we carry are improving with frightening speed – each year bringing a cavalcade of new features, capabilities, and improved hardware. But the power sources that run those gadgets seem to be stuck in about 2007. We know that the world is going device-crazy, with mobile internet use expected to surpass PC use by next year, and a whole new category of wearable devices (led by smart watches) on the way. So why are batteries still so terrible?

Peter Schiff: The dollar shouldn’t be the reserve currency (Herman J.)

“There really is no reason for the dollar to be at the center of these transactions, because the dollar shouldn’t be the reserve currency. Maybe at one time – when we were the world’s largest exporter as far as the biggest trade surpluses, we had a high savings rate, the dollar was backed by gold – maybe at one time the dollar deserved to be the reserve currency, but certainly those conditions have changed dramatically over time…I think the more we antagonize the rest of the world with the spying or with these huge fines on foreign banks, the quicker that process is going to unravel.”

Energy Independence: Financial Fact or Political Fiction? (Kevin J.)

Given that we consume around 18 million barrels per day (18 MMbbl/d) of crude oil in the U.S., and our domestic production is only around 8 MMbbl/d, it will be years before we will become energy independent in terms of oil. On the other hand, if you count coal exports, you could argue that we are already energy independent. In any case, even though we don't yet produce enough crude oil to meet all of our domestic consumption needs, I do think you'll soon see the U.S. begin to lift restrictions on crude oil exports. And I think that's a very important move for us to make.

Earthquakes Linked To Fracking (James S.)

Most people have become familiar with the complaints about how hydraulic fracturing, or fracking, is used extract oil or gas from shale: It contaminates local land and ground water, depletes local fresh water, potentially degrades local air quality, and could even trigger earthquakes. There has only been anecdotal evidence of these concerns, until now: a new scientific study says it has linked earthquakes to fracking.

BBC staff told to stop inviting cranks on to science programmes (jdargis)

Some 200 staff have already attended seminars and workshops and more will be invited on courses in the coming months to stop them giving ‘undue attention to marginal opinion.’

“The Trust wishes to emphasise the importance of attempting to establish where the weight of scientific agreement may be found and make that clear to audiences,” wrote the report authors.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/7/14

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."


saxplayer00o1's picture
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james_knight_chaucer's picture
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Didn't you just know before

Didn't you just know before you clicked on it, that that BBC article was going to be about 'climate change'?

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...It's nice to learn that at least one (as far as I know, only one) major media outlet is attempting to do what news media are supposed to do, inform us.


Edit-to be fair, Al Jazeera seems to be doing a decent job so far.

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Oh they're all at it here in

Oh they're all at it here in Blighty. It's like a religion. They are even putting us dangerously at risk of power cuts by closing down coal fired power stations before there is anything to replace them.

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Might the Fed initiate the avalanche?

Here's a fascinating concept I had been considering a possibility and now I see someone else sees it as a possibility: might the Fed initiate the avalanche in the economy.


I still believe the Fed will keep doing what it's been doing until something breaks.  However, The Minority Report out of the Department of Future Crime is warning me they might secretly fire an artillery shell into the overhanging snow to initiate the inevitable collapse/avalanche (and stop it from getting any worse). 

I sure wish I knew what Yellen and members of the FOMC are doing in their personal finances and preparations about now...

And for those of you who can never be paranoid enough, Lagarde of the IMF had some strange comments in January that some say may mean she knows something big is imminent.




"Welcome to the Hunger Games. And may the odds be ever in your favor."

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