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Daily Digest 2/24 - Eurozone Approves Greece Bailout Plan, A Student Debt Revolt Begins

Tuesday, February 24, 2015, 10:51 AM

Economy

Eurozone Approves Greece Bailout Overhaul Plan (jdargis)

In a statement, the so-called Eurogroup of finance ministers from the 19 countries that use the euro said they approved the Greek proposals in an afternoon conference call, after having consulted with Greece’s other major lenders, the International Monetary Fund and the European Central Bank.

More New Jobs Are in City Centers, While Employment Growth Shrinks in the Suburbs (jdargis)

The vast majority of jobs are still outside city centers, the result of a retreat from America’s cities that has been going on for decades. At the beginning of the 20th century, people lived and worked in high-density areas and walked where they needed to go. By the 1950s, most lived in suburbs and commuted to work in cities. In the decades that followed, employers decamped to the suburbs, too. By 1996, only 16 percent of metro area jobs were within a three-mile radius of downtowns, according to the economists Edward Glaeser and Matthew Kahn.

A Student Debt Revolt Begins (jdargis)

On Monday, Heiney and fourteen other people who took out loans to attend Corinthian announced that they are going on a “debt strike,” and will stop repaying their loans. They believe that they have both ethical and legal grounds for what appears to be an unprecedented collective action against the debt charged to students who attended Corinthian schools, and they are also making a broader statement about the trillion dollars of student debt owed throughout the country.

Obama Seeks New Protections for Retirement Savings in Speech to AARP (jdargis)

“I’m in the fourth quarter of my presidency — or, as some of you might call it, the kickoff for your campaign season — but I think there’s still a lot that we can get done together,” Mr. Obama told the governors at the White House, where they were wrapping up their winter meeting.

He said it was time to “move past some of the habits of manufactured crisis and self-inflicted wounds” that he said had been created by Congress, including the threat of a shutdown of the Department of Homeland Security because of a dispute over Mr. Obama’s recent immigration directives.

Could This Be Saudi Arabia’s Best Kept Secret? (Evan K.)

It is popular these days to speculate about why Saudi Arabia cajoled its OPEC allies into maintaining oil production in the face of flagging world demand. As the price the world pays for oil and oil products has plummeted, the price OPEC members are paying in terms of lower revenues is high, even unbearable for those who didn't save up for just such a rainy day. Was the real reason for the decision to maintain production the desire to undermine rising U.S. tight oil production--which has now proven embarrassingly vulnerable to low prices after years of triumphalist talk from the industry about America's "energy renaissance"? Were the Saudis also thinking of crippling Canada's high-cost tar sands production? Was it Sunni Saudi Arabia's wish to undermine its chief adversary in the region, Shiite Iran? Was the Saudi kingdom doing Washington's bidding by weakening Russia, a country that relies so heavily on its oil export revenue?

No 'drama or fanfare' for Keystone veto, WH says (jdargis)

Republicans made Keystone XL their first order of business in the 114th Congress after gaining a majority of seats in both chambers.

Oil: Shocking how vital it still is (pinecarr)

As a recent report from the accountants PwC revealed, emerging economies, most notably China and other fast-growing Asian economies, account for nearly half of all infrastructure spending (that's the development of cities and factories, in the main).

That's up more than 10% since 2006. And it all adds to oil demand.

Portland is now powered by water pipes and flushing toilets (Wendy SD)

Portland residents can now generate green electricity simply by turning on their water taps and flushing their toilets. Fast Company reports that the Oregon city is using a state-of-the art system to capture energy from water flowing through the city’s pipelines. Small turbines installed inside the pipelines are turned by the flowing water, sending energy into a generator and off into the power grid.

Gold & Silver

Click to read the PM Daily Market Commentary: 2/23/15

Provided daily by the Peak Prosperity Gold & Silver Group

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8 Comments

Bankers Slave's picture
Bankers Slave
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Ex American congress woman reveals....

saxplayer00o1's picture
saxplayer00o1
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rjs's picture
rjs
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on that "water pipe power"

Portland is now powered by water pipes and flushing toilets

are not the pumps that move that water through the pipes powered by electricity?

and wouldn't the obstruction of a generator inside the pipeline make those pumps work harder, hence consume more electricity...

dont we have a conservation of energy issue here?

and if we dont, then the solution to the world energy problems would be to build pipelines everywhere there's a power shortage, pump water around in circles, install small turbines in all those pipelines, and harvest the free electricity...

 

Doug's picture
Doug
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perpetual motion machine...
rjs wrote:

Portland is now powered by water pipes and flushing toilets

are not the pumps that move that water through the pipes powered by electricity?

and wouldn't the obstruction of a generator inside the pipeline make those pumps work harder, hence consume more electricity...

dont we have a conservation of energy issue here?

and if we dont, then the solution to the world energy problems would be to build pipelines everywhere there's a power shortage, pump water around in circles, install small turbines in all those pipelines, and harvest the free electricity...

...is what you are referring to, and no they aren't possible.  However, the article stated that they only work in gravity fed systems.  Basically, you have water flowing downhill and just put one of these generators in the line to harvest a little energy in addition to water.  Overall, you are using more energy than you are producing, but the gravity does all the work at no expense to you.

Arthur Robey's picture
Arthur Robey
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PM's

A bit like Hugh's discovery of a new source of oil in yesterdays dispatches.

I believe that the proof for the impossibility of Perpetual Motion machines is inductive. ( The white swan argument. "I have seen a thousand swans and they are all white. Therefore all swans are white.")

But if energy and matter are related by E=MC2, then there Must have been at least one event where the Law was violated- at the Big Bang. So we have found our first Black Swan. How many more are hiding in the dark chasms of our ignorance?

HughK's picture
HughK
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Another Onion link

Sorry for the Onion links, but I couldn't resist adding this one:

Raytheon CEO sends Obama another article about mounting unrest in Libya

Arthur, thanks for the reminder that black swans can be good things too.

reddgreen's picture
reddgreen
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Posts: 6
The article title is misleading. its about gravity. ...

Yes, clean water is pumped into your house, or business, and those pumps require electricity.  When you use the water, and it flows back through the sewer system, to the treatment plants, if there are sections of the sewer system that use gravity, and many sewer systems are designed just this way, then an impeller could be built into sections of long downhill runs, to run a small generator.  Small.   As long as the downhill flow is not impeded.   If we think that they're gong to run all the municipal buildings from s**t flowing down hill, we're mistaken. 

DennisC's picture
DennisC
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Posts: 342
There's a link

There is a link in the article to: http://inhabitat.com/portlands-water-pipes-are-the-newest-source-of-clea... that has some additional details.  One of the user comments there suggests it may provide $2M in net income over 20 years with a $1.5M investment (with an assumed upstream installation).  Other comments were along the lines of energy expended versus energy obtained.  You know, the basic input/output stuff most people don't think about.  Thumbs up for the "flowing down hill" comment!

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