Daily Digest

Image by sanderovski, Flickr Creative Commons

Daily Digest 7/16 - Economy 'Still Needs Fed Support', CA To Set Mandatory Water Curbs

Wednesday, July 16, 2014, 10:41 AM

Economy

Emerging Nations Plan Their Own World Bank, IMF

Fed up with U.S. dominance of the global financial system, five emerging market powers this week will launch their own versions of the World Bank and the International Monetary Fund.

Brazil, Russia, India, China and South Africa —the so-called BRICS countries — are seeking "alternatives to the existing world order," said Harold Trinkunas, director of the Latin America Initiative at the Brookings Institution.

Link between fracking and Earthquakes?

A study published earlier this month in the journal Science suggests that just four injection wells in Oklahoma have caused about 20 percent of the quakes from the eastern border of Colorado to the Atlantic coast since 2008.

California Expected to Set Mandatory Water Curbs

California's Lake Oroville, for example, now stands at 39% of capacity, while Nevada's Lake Mead, which serves as the biggest source of drinking water for the Southwest, has sunk to its lowest level since it began filling in the 1930s behind Hoover Dam.

America's staggering student debt numbers

When it comes to student debt in the United States, the numbers are truly staggering – in 2012, 71 percent of new bachelor’s degree graduates had debt, averaging over $29,000. Over the last ten years, student debt has quadrupled – topping $1 trillion.

Faced With Western Freeze-Out, BRICS Bank Is a Coup for Russia

For Russia, the creation of a $100 billion BRICS development bank and a reserve currency fund worth another $100 billion is a political coup. Just as the West freezes Russia out of its own economic system as punishment for its politics in Ukraine, Russia is tying itself into the financial superstructure of the next generation of economic heavyweights: India, Brazil, China and South Africa.

Yellen's 'stretched valuations' remark no surprise

In a report provided to Congress in conjunction with her testimony, Yellen noted that "valuation measures for the overall market in early July were generally at levels not far above their historical averages," but then made this comment: "Nevertheless, valuation metrics in some sectors do appear substantially stretched-particularly those for smaller firms in the social media and biotechnology industries

Yellen says economy still needs Fed support

Federal Reserve Chair Janet Yellen said Tuesday that the economic recovery is not yet complete and for that reason the Fed intends to keep providing significant support to boost growth and improve labor market conditions.

California Wells Could Run Dry in One Year: Study

Farmers in pockets of California hardest hit by the drought could begin to see their wells run dry a year from now if rain and snow remain scarce in the agriculturally rich state, according to a study released Tuesday.

We’re in the third biggest stock bubble in U.S. history

U.S. stocks are now about 80% overvalued on certain key long-term measures, according to research by financial consultant Andrew Smithers, the chairman of Smithers & Co. and one of the few to warn about the bubble of the late 1990s at the time.

The five dates listed at the start of this article, he says, are the only times since 1802, when data began being tracked, when stocks have been 50% or more overvalued

U.S. risks fiscal crisis from rising debt: CBO

But the agency expects deficits to rise in coming years as costs related to Social Security, Medicare and interest payments swell. And if federal debt grows faster than GDP, that path is ultimately “unsustainable” for the economy and risks a crisis where investors would begin to doubt the government’s willingness or ability to pay its debt obligations, CBO said.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/15/14

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

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Historians address the "War on Terror"

And other less savory topics. Mark Crispin-Millar re-publishes banned books.

 

 

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