Daily Digest

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Daily Digest 1/17 - Green Energy Inspiration, Should Minimum Wage Be Higher In Cities?

Saturday, January 17, 2015, 11:36 AM

Economy

Local and state police can’t use federal law to seize assets anymore (jdargis)

The Washington Post reports that since 2008, local and state police departments have seized approximately $3 billion in assets from 55,000 seizures around the country. In an earlier article published by the paper, government documents detailed that police departments spent their share of that money on “Humvees, automatic weapons, gas grenades, night-vision scopes and sniper gear,” and “electronic surveillance equipment” as well as less high-tech items like coffee makers, “challenge coin” medallions, and clown appearances (“to improve community relations”).

Slow Rise in Consumer Prices May Stymie the Fed (jdargis)

The Fed has said it plans to start raising its benchmark interest rate around the middle of the year. Job growth has outstripped its expectations and other economic indicators are improving. The University of Michigan’s consumer survey reported on Friday that consumer confidence in January hit the highest level in a decade.

The Cruel Oil-Market Math Conspiring Against ETF Bulls (jdargis)

Consider these numbers. From 2009 to 2012, crude prices soared twofold, yet, because contango conditions existed then too, the biggest U.S. oil fund gained less than 1 percent over that time. Those figures -- which seem almost implausible to the uninitiated -- highlight how difficult it could be for the oil fund (DBO) investments to pay off even if prices actually rebound. Analysts at Citigroup Inc., Barclays Plc and Societe Generale SA say contango won’t vanish anytime soon, predicting it will persist throughout 2015 because of the glut of oil.

Should Cities Have a Different Minimum Wage Than Their State? (jdargis)

According to a 2014 study from the St. Louis Fed, despite the fact that many states had minimums that were close to the federal rate, when the cost of living in each state was factored in, minimum wages across the country became a bit more polarized. The report shows that when wages were adjusted for the cost of living, so-called real wages showed an increase in some areas, such as Texas, Idaho and the Dakotas. But these calculations of real wages decreased income in other areas including New York, New Jersey, and Rhode Island.

Majority of U.S. public school students are in poverty (jdargis)

The shift to a majority-poor student population means that in public schools, a growing number of children start kindergarten already trailing their more privileged peers and rarely, if ever, catch up. They are less likely to have support at home, are less frequently exposed to enriching activities outside of school, and are more likely to drop out and never attend college.

Green-Energy Inspiration Off the Coast of Denmark (jdargis)

Monhegan faces challenges as stark as its beauty. Foremost among them — and the spur for the journey to Denmark — is dependence on expensive, dirty fuels for heating and electricity. Even with the recent fall in oil prices, Monhegan residents pay among the highest power rates in the nation — almost six times the national average — and the electric company, locally owned and operated, struggles to keep the lights on.

2014 Was Hottest Year On Record (jdargis)

The animation below shows the Earth’s warming climate, recorded in monthly measurements from land and sea over 135 years. Temperatures are displayed in degrees above or below the 20th-century average. Thirteen of the 14 hottest years are in the 21st century.

Gold & Silver

Click to read the PM Daily Market Commentary: 1/16/15

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."

1 Comment

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
Russia's Modest Proposal To Greece re Lifting Food Import Ban

http://www.zerohedge.com/news/2015-01-17/russias-modest-proposal-greece-exit-europe-and-we-will-lift-food-import-ban

And just to make things interesting, overnight Russia told a beleaguered Greece, and specifically its hurting farmers, that it "may lift its ban on food imports from Greece in the event it quits the European Union" according to Russian Minister of Agriculture Nikolai Fyodorov who spoke in Berlin on Friday.

If Greece has to leave the European Union, we will build our own relations with it, the food ban will not be applicable to it,” Fyodorov said as reported by Tass.

In other words, Russia has casually thrown out feelers to Greece (and any other peripheral European country) and given it the option of joining the greater Russian sphere of influence (because the USSR 2.0 and satellites is still not trademarked), should it decide that 5 years after the first Greek "bailout" things for the country caught in an endless depression are as good as they will get with a bunch of Goldman bankers in charge.

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