Daily Digest

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Daily Digest 7/17 - The "Recovery" In One Chart, Stay Away From Almond Milk

Thursday, July 17, 2014, 11:35 AM

Economy

The Recovery™ In One Chart (adam)

Empire is now called 'war on terror.'

Panem et circenses. Washington is certainly a circus, and we know who is getting all the bread.

Time for more distractions. What time's the next 'big event'?

17 Ways Driverless Cars Could Change America (jdargis)

Fewer Car Accidents: This is where it all begins. For all the sales pitches on convenience and novelty, the real benefit of driverless cars for drivers and society is the promise of drastically reducing the number of accidents causing death, injury and property loss. Estimates of those costs vary—one recent study pegged the financial cost to Americans at $871 billion a year, including “594 billion in societal harm from the loss of life and the pain and decreased quality of life because of injuries.”

Obama Likely to Seek Additional Time for Nuclear Negotiations With Iran (jdargis)

The Iranian proposal Mr. Kerry brought back to Washington from Vienna, where he spent three days haggling with his counterpart, Mohammad Javad Zarif, is widely judged as insufficient by American officials and intelligence experts. They argue that it would not give the West the minimum Mr. Kerry said last year was acceptable: at least a year’s warning time that Iran was racing to produce enough bomb-grade fuel for a nuclear weapon — even if fabricating the weapon itself would take longer.

Outlook for Gold, Stocks, Economy by Incrementum’s Advisory Board (Taki T.)

Meantime, the second Advisory Board meeting has taken place, in which all relevant and important topics for gold investors have been discussed.The economic situation and China in particular, a monetary policy update, the geopolitical situation, a stock market review, and precious metals and miners market update.

Environmentalists Denounce Repeal of Australia’s Carbon Tax (jdargis)

After the vote Thursday, Mr. Abbott characterized the tax as a “useless, destructive tax, which damaged jobs, which hurt families’ cost of living and which didn’t actually help the environment.” He called it a “9 percent impost on power prices, a $9 billion handbrake on our economy,” and said the repeal would save the average household 550 dollars a year.

Australia is among the world’s biggest producers of carbon emissions on a per capita basis. The government is committed to reducing emissions to 5 percent below levels recorded in 2000 by 2020.

Lay Off the Almond Milk, You Ignorant Hipsters (jdargis)

The water-intensive nature of almond milk, of course, is no secret. By law, food manufacturers have to name ingredients in order of their prevalence in the product. For Califia and other almond milk brands, it starts like this: "filtered water, almonds." Given that it takes 1.1 gallons of water to grow a single almond in California, where 80 percent of the world's almonds are produced, drenching the finished product in yet more water seems insane.

Using Nanotubes To Make Cheaper, Cleaner Hydrogen Fuel (James S.)

Hydrogen has a reputation as a clean source of energy, especially when compared to fossil fuels such as oil and coal. But there’s just one problem: You need to burn methane, itself a fossil fuel, to make hydrogen. So with current technology, hydrogen isn’t as clean as its reputation. Add to that, current technology is expensive because to isolate hydrogen you must create electrolysis reactions, which separates hydrogen atoms from oxygen atoms in water. Again, with current technology, you need expensive platinum as a catalyst for that process.

The Largest Landfill On Earth: Plastic Garbage In The Oceans? (James S.)

Think about the last time you got takeout or ate at a fast food restaurant. Or the last time you bought a pre-packaged food item from a store, or drank a bottle of water or soda. Chances are, plastic was involved in all those items -- plastic that will still be around up to 1,000 years from now.Americans throw away over 30 million tons of plastic every year, of which only about 25 percent is recycled. The rest goes to landfills. Unfortunately, the largest “landfill” on Earth is actually in the North Pacific Ocean.

Gold & Silver

Click to read the PM Daily Market Commentary: 7/16/14

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."

6 Comments

cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5734
Malaysian Airliner MH17 Shot Down Over Ukraine

Over 200  people were on board Malaysian flight MH17 which was shot down by a missile a short while ago.  A huge tragedy for everyone on board, their families and friends.

Gold has spiked, stocks are getting hit, as the concept formerly known as 'risk' returns.

Russia, the Ukrainian government and the separatists all deny responsibility.

However, given what little information I can glean, the plane lost contact with radar at 1:20 and that places it right smack over the separatist conflict area.  Using these final coordinates...

...we can determine this location:

Recall that it was earlier today that we learned that we learned that the Ukraine government claimed that a SU-25 jet was shot down by Russia.

Quite interestingly, that jet went down just 20 miles south of the MH17 incident.

What we know then, is that this area is quite hot, with all three possibly guilty parties shooting missiles at each other.  What are the chances of a Ukrainian or Russian pilot loosing a missile that misses its intended target and carries on to the next available jet?  Pretty good in my book.

All of this is still very new, and we're certain to have some details wrong and the eventual storm of propaganda will virtually assure a very muddy story without any believable clarity.

What we do know for sure is that tensions and risk are now higher, not lower than they were before.

 

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4149
cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5734
The Rumors Swirl

 

#Donetsk commander and purported #Russian agent Strelkov claims credit for shooting plane he thought was Ukrainian

https://twitter.com/OlaMcLees 

The separatists are claiming that all they have are portable antiaircraft rockets with a range of 3,000 - 4,000 meters.

The system that allegedly took down MH17 was the so-called BUK (A-1402) anti-aircraft system.  

Funnily enough, the separatists claimed to have taken control of that exact same system back in June (Google translated version):

Donetsk, June 29. / ITAR-TASS /. Militia representatives proclaimed the People's Republic of Donetsk (DNR) took control of the military part number A-1402 air defense (AD) with anti-aircraft missile systems (SAM) 'Beech'. This information was confirmed by ITAR-TASS, the press service of the DNI.

(Source

My guess is that the separatists do have the system, but that's just a guess.  The open question now is how hard does Obama come down on Russia because this sort of loss of innocent life is completely unacceptable to the US...

...now if this were a plane load of Palestinians flying over Gaza, on the other hand, nary a peep would come from the white house and the US media would ignore it as fast as they could.

Just pointing out the flexible morality that exists in the political class here in these two stories.

thc0655's picture
thc0655
Status: Diamond Member (Offline)
Joined: Apr 27 2010
Posts: 1617
The case for an epic dollar rally

Here's a thought-provoking piece on the case for an epic dollar rally (right before it collapses and dies).  If it happens, those with cash will have some brief, epic buying opportunities for cheap hard assets.  That's what "dry powder" is for, right?

http://notquant.com/will-there-be-an-epic-final-dollar-rally/

Poet's picture
Poet
Status: Diamond Member (Offline)
Joined: Jan 21 2009
Posts: 1891
Chris, How About A Distraction Or Excuse...

Chris:

How about war or conflict or sanctions as a distracting trigger for a massive market downturn or crash? Y'know, so at least officials can blame war and geopolitical, geo-economical conflict.... since blaming the weather is no longer possible now that winter is a distant memory, and suspicions certainly mustn't be drawn to the actual deteriorating domestic and debt-driven economic conditions, nor to the manipulations of central banks...

Poet

Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
Disciplined Rats.

The MSM in Australia is pushing a barrow that it was "Russian Terrorists". But it stymies the barrow pusher when the interviewee points out that Russia does not benefit from this action as Malaysia is one of their friends. How exactly does this episode benefit Putin?

Further-What was a civilian airline doing dawdling in that area? Who wrote up their flight plan? I smell a rat.

You have got to admire the discipline of Minitruth.

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