Daily Digest

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Daily Digest 10/13 - Oil Bear Market Tests OPEC Unity, Treating Ebola Safely

Monday, October 13, 2014, 10:47 AM

Economy

W.H.O. Chief Calls Ebola Outbreak a ‘Crisis for International Peace’ (jdargis)

Ebola emerged 40 years ago, and, Dr. Chan said, there were no vaccines or other remedies because it has traditionally been confined to poor African countries. A profit-driven pharmaceutical industry had no incentive to make products for countries that could not pay, she said.

The risks of neglecting health care in developing countries are global, Dr. Chan said, adding that “when a deadly and dreaded virus hits the destitute and spirals out of control, the whole world is put at risk.”

Can You Treat Ebola- And Stay Safe? (jdargis)

In the United States, with its endless supply of gloves, masks, boots, and gowns, transmission of the disease from patient to health-care worker implies something different. Personal protective gear is only as effective as the protocol for using it.

“Even a single breach can result in contamination, and one of the areas that we look at closely are things like how you take off the gear that might be infected or contaminated.” The Dallas nurse, who officials confirmed was wearing gear, was allegedly treating Duncan on his second visit to the ER, where he was hospitalized and diagnosed before eventually dying.

Holder Of Secrets (jdargis)

Poitras asked me to look away from the monitor. Some footage apparently risked exposing an anonymous source. “There’s one identifying thing,” she told Bonnefoy. “Scroll down, scroll down. I think you just take this out altogether. The whole thing. It’s too identifying. I think, given the risk, we should be careful. What I have the clearance to do is focus on the drone strikes and the watch list.” The watch list is the U.S. government’s long roster of known terrorists and other people deemed to pose a serious national-security risk.

I let Yondr lock my smartphone in a sock so I could “live in the moment” (jdargis)

At phone-free events, the barrier to entry for reproducing and sharing videos and images of a copyrighted performance is much higher. But according to Dugoni, Yondr is about eliminating distractions first and aiding copyright holders second. “We are talking to quite a few bands about using Yondr for upcoming shows, and some are interested in making it a permanent fixture for their tours,” he wrote to Ars.

Russia Spending $6 Billion Not Enough to Stop Ruble Rout on Oil (jdargis)

“The main driver for the ruble right now is the oil price,” Dmitry Polevoy, the chief economist for Russia at ING Groep NV, said in e-an e-mailed note. Crude’s decline “totally eclipses” the “reassuring news” that Russia announced it was pulling back forces from Ukraine’s borders, he said.

The ruble slid 1 percent to a record 51.3350 versus the euro and lost 0.3 percent to 40.4540 against the dollar.

Oil Bear Market Tests OPEC Unity as Venezuela Seeks Meeting (jdargis)

Ample supply, helped by surging U.S. and Russian output, pushed Brent crude into a bear market last week. The European benchmark slumped more than 20 percent from its peak for the year on June 19, meeting a common definition of a bear market. Brent fell on Oct. 10 to its lowest since December 2010. It declined as much as 2.7 percent today and was at $88.41 a barrel at 3:20 p.m. in London.

The 10 Biggest Energy Company Bankruptcies (James S.)

Running a multi-billion dollar energy company isn’t easy. Just ask the executives in the corner suites of some of the energy companies that have gone bust over the years. Some, like Enron, were brought down because of insider malfeasance. A few, like ATP, blamed damaging government policies, while others went off the rails due to market forces that left the company and its shareholders flat-footed, deep in debt, and eventually broke. Here are the bankruptcies that will be etched into the tombstones of failed energy fortunes for time immemorial.

Once a Symbol of Power, Farming Now an Economic Drag in China (jdargis)

It begins with the fact that farms in China are too small to generate large profits, about 1.6 acres on average, compared with 400 acres in the United States. Yet it is difficult to consolidate these farms into larger, more efficient operations because Chinese farmers do not own their plots — they lease them from the government.

Gold & Silver

Click to read the PM Daily Market Commentary: 10/10/14

Provided daily by the Peak Prosperity Gold & Silver Group

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