Daily Digest

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Daily Digest 12/8 - Remembering Bhopal, How Technology Could Help Fight Income Inequality

Monday, December 8, 2014, 10:20 AM

Economy

There Has Never Been A Greater Portion Of America Living On Food Stamps (pinecarr)

Friday's jobs data proves it - America is back baby! Or is it all totally manipulated statistical shenanigans? A quick glimpse at the following charts two rather uncomfortably 'non-recovery-like' lines - of structural unemployment and the percent of the US population of Food Stamps - would suggest that for much of America, the recovery never happened, and in fact has gotten worse.

Ohio Woman Kicked Off Welfare for Not Reporting She Was In a Coma (sfw)

For a decade, Thompson worked packing boxes in Columbus warehouses for $10 or $12 an hour. She was raising a 15-year-old daughter and managed to pay rent for a trailer she shared with a relative. Then last May Thompson underwent a hysterectomy. Unable to return to strenuous warehouse work, she applied for Medicaid, welfare and food stamps, and enrolled in a computer repair job-training program. But a month later, an untreated infection she'd contracted after surgery worsened, and her organs began to shut down. She spent the next month in a medically-induced coma.

The unstoppable rise of the global surveillance profiteers (jdargis)

ESAT forwarded the emails to Citizen Lab, a multidisciplinary group at the University of Toronto’s Munk School of Global Affairs working on Internet freedom issues like censorship and surveillance, with a focus on the actions of repressive governments. Activists from around the world send files to Citizen Lab that they suspect contain viruses, and the group’s programmers will download them, rummage through the source code, and determine if there’s foul play involved.

How Technology Could Help Fight Income Inequality (jdargis)

A more universal expertise with information technology also might reverse some of the income inequalities that stem from finance. For instance, the returns from high-frequency trading were higher a few years ago, in part because few firms used it; now many firms can trade at very high speeds. It remains to be seen whether similar developments will lower hedge fund returns, but again it is possible to imagine a future in which many of the best investment and trading techniques are very widely copied and thus cease to be especially profitable.

Putin’s New Deal Spells End to 15 Years of Wage Gains (jdargis)

“There’s been a social contract in place in Russia whereby the population understood that its living standards will continue to improve even if political freedoms are limited, but now living standards are taking a hit,” said John Lough, an associate fellow at Chatham House’s Russia and Eurasia program in London. “This is going to affect public attitudes and it’s going to put pressure on the system and on Putin personally.”

Drowning In Corn (jdargis)

For two hours, 20-year-old Will had been trapped in corn bin number nine, on a grain storage facility in Mount Carroll, Illinois. It was July 28, 2010, and Will had started his morning at work, cleaning the grain bin with two of his buddies, Wyatt Whitebread, 14, and Alex “Paco” Pacas, 19. Now both of his friends were submerged, and probably dead, though Will did not want to admit that yet.

Norway’s Oil Decline Accelerating (Evan K.)

New oil projects are being scrapped in Norway amid falling production and low oil prices. Long held up as the model for managing oil abundance, Norway has painstakingly sought to prevent the problems that occur with other natural resource-based economies, such as corruption, slow economic growth, currency appreciation, and subsequently, deindustrialization. Since 1990, Norway has diverted much of its oil earnings to a sovereign wealth fund, which has become the world’s largest. The money, reaching $890 billion as of June 2014, amounts to $178,000 for every Norwegian citizen. The sovereign wealth fund helps Norway avoid some of the problems associated with the “resource curse” by investing capital abroad. But more importantly, the money is set aside to be saved and invested to help the country plan for the eventual decline of oil production, with the intention of transitioning to a more diversified economy that can take oil’s place.

The Worst Industrial Disaster In History (jdargis)

The fallout of the leak extends well beyond even that, with perhaps half a million survivors impaired with breathing difficulties, vision problems, spells of unconsciousness, and psychological disorders. Women suffer a high rate of miscarriages, and children are prone to birth defects. The abandoned factory overruns its boundary walls even if it appears to be sequestered; chemicals stored on site or dumped into pits seep into the groundwater and make their way into the tube wells and taps of surrounding slums. Today, thirty years after the events of December 2 and 3, 1984, the factory continues to pulsate with its evil magic.

Gold & Silver

Click to read the PM Daily Market Commentary: 12/5/14

Provided daily by the Peak Prosperity Gold & Silver Group

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saxplayer00o1
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saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4062

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