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Daily Digest 11/29 - Oil Price Collapses, Black Friday Protests At Walmart

Saturday, November 29, 2014, 11:22 AM

Economy

John Mauldin: Stray Reflections (Nate)

I will be braving the crowds at Central Market in a few hours, stocking up for Thanksgiving. I am normally not much of a grocery shopper and try to relegate the task to someone with more patience and time. But today, I look forward to spending the time, selecting each ingredient that I will be using with care, choosing fresh spices, chatting with the other shoppers, and just getting into the whole cooking thing, always on the lookout for something new and different.

Will The Swiss People Resist The Massive Anti-Gold Propaganda? (Taki T.)

By following the debate and opinions from people all over Switzerland, Claudio Grass believes that still a substantial part of the population does not realize that paper money has always been a receipt for gold and is therefore the “superior currency” or better said real money. The simple fact that a nation can strengthen its currency by holding physical gold is not sufficiently clear amongst people. A stronger currency means more purchasing power for the nation’s citizens. When buying physical gold as an insurance against the risks related to a fully un-backed paper money system, selling gold does not make any sense at all, especially not in a harsh crisis scenario.

The Only Way To Stop The Empire (pinecarr)

We all know that the US military-industrial complex has become a self-perpetuating and uncontrollable organism, just like Dwight D. Eisenhower warned us in 1961. Everyone knows the phrase and Eisenhower's warning—it is part of our collective memory. At a trillion dollars a year and growing, with over 1000 bases ringing the planet, it has expanded far beyond what Eisenhower could have imagined in his worst nightmare. We can’t say we didn’t know: he warned us. After the National-Socialist episode in Germany, many good Germans voiced regrets at not speaking up, claiming that they didn’t know what was being done in their name. But we do not have that excuse: we all knew all along.

On Black Friday, Walmart Is Pressed for Wage Increases (jdargis)

Walmart sought to play down the protests, saying few employees went on strike. In a statement, the company said: “Fewer associates called out absent over the past day than we see on a typical day. That tells us our associates are excited to be there for our customers at this special time, and they are not joining in made-for-TV demonstrations in any meaningful way.”

New superconductor-powered wind turbines could hit Australian shores in five
years
(Wendy SD)

In our design there is no gear box, which right away reduces the size and weight by 40 percent,” said lead researcher and materials scientist Shahriar Hossain. “We are developing a magnesium diboride superconducting coil to replace the gear box. This will capture the wind energy and convert it into electricity without any power loss, and will reduce manufacturing and maintenance costs by two thirds.”

OPEC Refuses To Cut Production, Sending Oil Price Down Again (Evan K.)

OPEC has resisted the urging of its needier members and has decided not to cut production levels despite the five-month-old plunge in oil prices. Saudi Oil Minister Ali al-Naimi said the 12 ministers at the meeting at OPECs’ Vienna headquarters on Nov. 27 decided to keep the production level at 30 million barrels per day, a ceiling set nearly three years ago. The oil market responded immediately, with Brent crude dropping $3 to below $75 per barrel for the first time since September 2010. The global price of oil has declined by more than 30 percent since mid-June because of a convergence of higher supply and lower demand.

Free Fall in Oil Price Underscores Shift Away From OPEC (jdargis)

For decades, the United States faced dwindling domestic production and rising demand, leading President George W. Bush to call on the country to get off its “addiction” to imported oil. But around eight years ago a few small oil companies began experimenting to produce oil from hard shale rocks in North Dakota and Texas, using hydraulic fracturing — fracking — and horizontal drilling techniques that proved effective in producing natural gas a few years earlier.

Domestic oil production has soared more 70 percent over the last six years, to roughly nine million barrels a day. The country is still a net importer, but with production growing by more than a million barrels a day every year, it is importing less and less almost every month.

10 U.S. shale-oil stocks getting crushed the most today (Michael W.)

For U.S.-shale companies, long-term expansion plans may have to be severely curtailed, especially if OPEC and major non-OPEC oil producers, including Mexico and Russia, continue on their current path.

The S&P 500 Index SPX, -0.25% was little changed Friday, but among 186 U.S. oil stocks with market values of more than $50 million, 56 were showing double-digit declines in early trading.

Gold & Silver

Click to read the PM Daily Market Commentary: 11/26/14

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

sand_puppy's picture
sand_puppy
Status: Diamond Member (Offline)
Joined: Apr 13 2011
Posts: 1763
I have seen several

I have seen several independent analysts report the basic principles of PP.  Tonight on zerohedge is another:

 

Visualizing Peak Population

Even with having existed for millions of years, the process for humans to reach 1 billion in population was long and arduous. It is only about 12,000 years ago that humans started engaging in sedentary agriculture. This allowed humans to settle and consistently produce food, rather than hunt and gather throughout.

 

However, it is with the Industrial Revolution that the means for exponential human population increases was created. New technology, boosts in productivity, and the use of energy allowed for a new frontier in increasing health, sanitation, and standard of living. It is also around this time – in 1804 to be exact – that the earth’s population hit 1 billion people.

Now ... over 7 billion people

 

By 2100, our global population is predicted to be between 9.6 and 12.3 billion people. The world will be much different than we know it today in the future.

And my favorite comment in the section below the article:

The four horsemen will take care of the population problem.

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 772
On the only way to stop the empire

I rather disagree with that article, for several reasons:

1) First the government takes threats to its income seriously. Prepare to be waterboarded.
2) Second, the method requires everyone to act in unison. That is incredibly unlikely.
3) If everyone DID suddenly stop paying their taxes, the government wouldn't jurt roll over and die. More likely would be sudden asset forfeiture, followed by a temporaray blind eye to the quartering act. And I don't say that that is likely, just more likely than the government rolling over and dying.
4) the act itself is a kind of an act of war. Wareis clumsy. Patience is hard, but much less clumsy.
5) as with John Brown's failed civil war, the timing is never what early adopters think it is.
6) When such an act can even hope to succeed, such an act will be impossible to prevent. Until then, it has no chance of success.

So I don't advocate writing 'exempt' falsely on one's W9.

I DO advocate people minimizing their taxes in the way it always has been correctly done, but that's got nothing to do with overthrowing the evil empire.

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 772
Fraud-n-failure alert on superconductor

Old Dominion University contracted to get a superconductor-levitating train.

Problem is, when a superconductor interacts with the outside magnetic fields, its superconducting principles get shattered. The phonons destroy the field.

Second problem is that the same company that sold the train, and failed to deliver, had previously (over ten years) done the same at a number of other sites around the country.

I don't know that the superconducting wind turbines (isn't that a basket of techno-speak?) is either fraud or failure prone.

But I suspect it will never come to pass.

Be careful about what you invest in.

Michael_Rudmin's picture
Michael_Rudmin
Status: Platinum Member (Offline)
Joined: Jun 25 2014
Posts: 772
for more clarity on superconductors

Superconductors are very good at holding a particular electromagnetic landscape that is precisely constant, where the energies of the superconductor are huge compared to what is using it, and the situation is 'steady state'.

So, for example, when my brother was studying low-magnetic-field hydrogen ion detachment, they used a million dollar superconductor to ensure that the field was constant. They then made a high-quality vacuum, by first pumping out the test chamber, then supercooling it, then baking it to get stray gasses out of the metal walls, then sucking those gases out, then supercooling it again.

Then, they applied the million-dollar superconducting magnetic field, and injected hydrogen ions on the order of tens of ions, to see their behavior under laser-induced photodetachment.

But all the time, they had to -- for descriptive purposes -- pump the phonons out of the superconductor to keep it running.

And once they made a series of mistakes, every one of seven steps misdiagnosing what had gone wrong, reporting to the department head what the situation was and what they would do about it, and recieving permission, and doing it, culminating when they heard a 'BOngggg'... that was the sound of a million dollars being destroyed by phonons. Complete halt to the project (until another magnet could be btained), end of pHD, end of department head/research advisor's tenure there. All nominally coincidental, but nothing happens in a vacuum.

Wind energy is chaotic and phonon intensive.

I really don't expect success there.

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