Daily Digest

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Daily Digest 2/13 - Weather Patterns To Watch, Russia’s Complicated Relationship With OPEC

Friday, February 13, 2015, 11:39 AM

Economy

Ukraine gets new $40 billion lifeline (Dana T.)

The deal replaces a separate $17 billion bailout agreed last year by the IMF. Only $4.5 billion of those funds were distributed. With the new package, the IMF's total commitment now stands at $22 billion.

According to a White House statement, President Obama emphasized the U.S. commitment to "work with our international partners to provide the financial support Ukraine needs" during a call on Tuesday with his Ukrainian counterpart.

Man Who Predicted Collapse Of Euro Against Swiss Franc Warns Current Global Financial System Will Cease To Exist (pinecarr)

Regardless of the outcome in Greece, there will be major repercussions for Europe and the world. The world is already very close to an avalanche of money printing and defaults. Also, other countries in the EU are waiting to follow Greece.

Will China's Currency Peg Be the Next to Fall? (pinecarr)

What will happen should China end the peg and allow the RMB to float freely on global foreign exchange markets?

Nobody knows, and that uncertainty is likely one reason why Chinese leaders are maintaining the peg. Uncertainty is disruptive, especially when it affects the value of currencies, which then affect the relative competitiveness of China's all-important export sector.

The Imprisoner's Dilemma (jdargis)

The Brennan Center report is hardly the first to recognize this possibility. Few have quantified it, though,4 as Steven Levitt pointed out in a 2004 paper. “Although the elasticity of crime with respect to imprisonment builds in some declining marginal returns, the actual drop off may be much greater. We do not have good evidence on this point.” Basically, he’s saying we know what to expect, but at the time we didn’t have the results to back it up.

Russia’s Complicated Relationship With OPEC (James S.)

Russia, Saudi Arabia, and the United States are the world’s most important oil producers. While there has been a lot of discussion about Saudi Arabia’s move to crush U.S. shale by flooding international markets with oil, the relationship between Saudi Arabia and Russia is much less understood. Saudi Arabia and Russia have a lot in common. Both depend on oil exports for an overwhelming portion of their budget revenues. Both put energy issues at the heart of their foreign policy and use oil (and in Russia’s case, natural gas) as tools to achieve political objectives.

Elon Musk says Tesla will unveil a new kind of battery to power your home (Kevin J.)

“According to Musk, the company is working on a consumer battery pack for the home. Design of the battery is apparently complete, and production could begin in six months. Tesla is still deciding on a date for unveiling the new unit, but Musk said he was pleased with the result, calling the pack "really great" and voicing his excitement for the project.”

The "Catastrophic Shutdown Of America's Supply Chain" Begins: Stunning Photos Of West Coast Port Congestion (Wendy SD)

Just so readers have a sense of what is at stake, this is what the average dockworker makes: $147,000 a year in salary, plus $35,000 a year in employer-paid health care and an annual pension of $80,000 (according to an association press release). It is the overtime compensation to the total shown here, which grosses to over a quarter of a million dollars, that dockworkers are negotiating to raise or else the key US supply-chains gets it.

4 Weather Patterns To Watch (Richard B.)

A cooler Pacific. The Pacific Decadal Oscillation (PDO) is a mouthful to say, but it’s also an ocean current that is likely to bring drier weather to the Midwest through its 15- to 20-year cycle. Browning-Garris says the PDO shifted in 2006 to a “negative” phase that she nicknames “Pretty Dry Oklahoma.” This pattern changes rain and snow patterns, boosts the chances of floods and droughts, and in the West and Great Lakes regions, "increases the probability of dry weather."

The U.S. is on track for a record-breaking megadrought (Nervous Nelly)

Cook’s team was particularly interested in what’s called the “Medieval Warm Period,” which spanned from the 9th to the 13th century. Like most climate change stories, it created winners and losers depending on where you lived. It thawed the north, allowing Leif Erikson and his fellow vikings to colonize Newfoundland in Canada. In the west, it meant drought that “far exceeded the severity, duration, and extent of subsequent droughts,” which may have lead to the collapse of the Pueblo Indian civilization.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/12/15

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."

4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Online)
Joined: Jul 30 2009
Posts: 4066
Thetallestmanonearth's picture
Thetallestmanonearth
Status: Gold Member (Offline)
Joined: Feb 28 2013
Posts: 320
Facebook privacy rules

As I learn more about Facebooks privacy rules I am leaning heavily towards deleting my account.  Has anyone else read up on this and come to another conclusion?

http://saintsal.com/facebook/

Time2help's picture
Time2help
Status: Diamond Member (Offline)
Joined: Jun 9 2011
Posts: 2766
Facebook Privacy Rules

Killed my account 3 years ago and never looked back.

Thetallestmanonearth wrote:

As I learn more about Facebooks privacy rules I am leaning heavily towards deleting my account.

DO IT.

Thetallestmanonearth's picture
Thetallestmanonearth
Status: Gold Member (Offline)
Joined: Feb 28 2013
Posts: 320
Just checked PP's privacy

Just checked PP's privacy policy out of shear curiosity.  It is less then two pages long typed in 12 point font.  All of it in plain english and all of it makes sense.  Last updated in 2009.  That is how privacy policies should read!  Bravo.

It also helps that if I have a question about how my information is being used I can reach out to Chris and Adam directly.  The only way for-profit social media or content sites can maintain it's integrity of user information is by charging for content or selling ads.  Chris and Adam provide most of the content here free of charge, but I choose to subscribe.  Not only do I get access to all the content they provide, but my hope is that I also help them avoid feeling pressured into monetizing user data or succumbing to pressure from advertisers.

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