Daily Digest

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Daily Digest 1/27 - The Rat Tribe Of Bejing, Oysters With a Day Job

Tuesday, January 27, 2015, 11:20 AM

Economy

Shutting Down New York’s Subways Is Very Expensive (jdargis)

On Tuesday, Mr. Cuomo and Tom Prendergast, the president of the Metropolitan Transportation Authority, contended that closing the system was a smart move because it’s easier to return a closed system to full capacity than one that is operating with modified service. But that’s inconsistent with both past M.T.A. practice and Mr. Prendergast’s own comments on Monday, when he was saying there was “no reason” to close the underground portions of the subway system, because they are shielded from snow.

The Rat Tribe Of Bejing (jdargis)

"I am doing well because I’m scared of being poor,” Wei says in his apartment, a roughly 300-square-foot room he shares with up to nine other men. “Many of my colleagues live above ground, but I think it’s too comfortable; this place forces me to work harder.” Still, Wei, who now makes up to 30,000 yuan (about $4,800; 1 yuan = $0.16) a month — a drastic improvement from his initial monthly salary of 800 yuan — says he plans to move out by the Chinese New Year, in February.

How 2014’s Huge Market Moves Are Affecting the Economy in 2015 (jdargis)

The news was not without bright spots, but markets viewed it decidedly negatively in the aggregate, with the Standard & Poor’s 500 index down 1.5 percent in morning trading. It is a reminder that for every American enjoying a cheaper tank of gas or a more affordable mortgage, there are also major employers wrestling with less investment in new oil exploration and lower earnings from abroad. And it is an object lesson in how the seemingly abstract moves in markets can affect real companies and real people.

Panicked super rich buying boltholes with private airstrips to escape if poor rise up (thc0655)

He said: “I know hedge fund managers all over the world who are buying airstrips and farms in places like New Zealand because they think they need a getaway."

U.S. expands spy program on American drivers beyond border region (jdargis)

Law enforcement has argued as recently as last week that such records are indispensable for recovering stolen cars and for using in criminal investigations. The devices are rapidly being deployed by state and local law enforcement agencies—notably some communities (such as the wealthy small town of Piedmont, California) have even put them up as an electronic border against their neighboring towns.

The Department of Justice, the DEA’s parent agency, did not immediately respond to Ars’ specific questions sent by e-mail.

Obama Plan Calls for Oil and Gas Drilling in the Atlantic (jdargis)

The move to ban drilling in some Arctic waters is certain to enrage Alaskan lawmakers who are already angry about an administration plan, announced last weekend, to provide tougher environmental protections in the Arctic National Wildlife Refuge, a 19 million-acre sanctuary that is believed to contain large reserves of oil and gas.

Lies And Deception In Ukraine’s Energy Sector (Evan K.)

The Ukrainian government has repeatedly claimed it is doing its best to improve the oil and gas investment climate, but official statements are the opposite of the reality, as Prime Minister Arseniy Yatsenyuk is leading the great deception. According to Prime Minister Yatseniuk, Ukraine has taken a number of important steps to reform the energy sector, and has even achieved success in the formidable fight against rampant corruption, as well as signed open and transparent contracts for purchase of the natural gas from EU member states. Now he claims Ukraine is looking forward to Western companies' investment in Ukraine's gas transportation system. "I would like to point out where we have succeeded: we have succeeded in overcoming corruption in the energy sector. Billions of dollars, which previously used to flow into the pockets of Ukrainian oligarchs, are now being brought out of the shadows. At present, Ukraine purchases gas under transparent and open contracts with European companies," Yatseniuk recently told a joint press conference with German Chancellor Angela Merkel in Berlin.

Oysters With a Day Job (jdargis)

The Billion Oyster Project is an ambitious, volunteer-driven initiative manned largely by NYC middle school students. Why oysters? They can filter toxins from up to 30 gallons of water a day, helping restore the harbor’s ecosystem, which includes crabs, sea squirts and other aquatic wildlife. Project manager Samuel Janis says when kids “see the restorative power of oysters, they’re blown away.”

Gold & Silver

Click to read the PM Daily Market Commentary: 1/8/15

Provided daily by the Peak Prosperity Gold & Silver Group

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4 Comments

pinecarr's picture
pinecarr
Status: Diamond Member (Offline)
Joined: Apr 13 2008
Posts: 2237
Great Oyster article, Jeanine!

With all the stressful news about energy and the economy these days, its nice to read something hopeful on the environment front.  Also great to see young people learning to be proactive in creating a better world for themselves.

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Report: California earns ‘C’grade in teacher pension plan health

 

"One huge problem it pointed out is the lack of susatianabilty with many plans, as in 2014 the accrued teacher pension debt in the United States was $499 billion. Only nine plans in the nation were at least 90 percent funded. California, with over $73 billion of debt, ranked about in the middle with debt.

The report stated, “Looking through another lens, consider teacher pension debt spread out across the K-12 student population. Each American student’s share of the teacher pension deficit is more than $10,000 and growing.”"

mobius's picture
mobius
Status: Silver Member (Offline)
Joined: May 18 2009
Posts: 160
Dutch Citizen's Movement to Discuss Money Creation

This Monday past, a Dutch consumer protection/advocacy program gave some air time to the issue of money creation.  There is an on-line petition to have a political debate about how the (collective EU) money system works.  This is a first step, but nonetheless quite interesting. 

The site is in Dutch with some English language videos from www.positivemoney.org.  Although I don't entirely agree with the content, it is a bold first step.

https://www.burgerinitiatiefonsgeld.nu/

Greetings!

Joanne.

Bytesmiths's picture
Bytesmiths
Status: Silver Member (Offline)
Joined: Apr 28 2008
Posts: 201
Not an oyster

... except I believe the photo is of a scallop, not an oyster.

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