Daily Digest

Image by oddsock, Flickr Creative Commons

Daily Digest 3/16 - Putin Returns After Absence, The Truth About U.S. Crude Storage

Monday, March 16, 2015, 11:42 AM

Economy

Boston University Economist Calls Out Congress on Enormous Fiscal Gap (pinecarr)

Kotlikoff uses “fiscal gap accounting” and “generational accounting” in an attempt to get his arms around all the promises the government has made, whether “on books” (such as Treasury bills, notes, and bonds), or “off books” (such as Social Security, Medicare, Medicaid, and the Prescription Drug Benefit). He then compares U.S. government promises to expected government income from all sources: taxes, fees, tariffs, interest payments, payroll taxes, and so forth. The fiscal gap, instead of the highly misleading (he says) number issued by the CBO of some $11 trillion, is really $210 trillion.

Vladimir Putin Returns After Absence and Dismisses Rumors (jdargis)

The rumor mill churned, and among the possible explanations were that Mr. Putin had fallen ill with a virulent strain of the flu, that he had surreptitiously flown to Switzerland for the birth of his love child, that he had had a stroke and that he had been ousted in a coup.

Dmitry S. Peskov, the president’s spokesman, brushed off the health questions, saying that Mr. Putin’s handshake was so firm it was bone crushing, and that the president had been busy working.

Crackdown in a Detroit Stripped of Metal Parts (jdargis)

For generations, scavengers have prowled this city with impunity, pouncing on abandoned properties and light poles to pilfer steel, copper and other metals they could trade for cash at scrapyards. The practice left tens of thousands of buildings so damaged that they could not be restored, turning places like the North End into grim cityscapes that appeared to have been ravaged by a tornado.

These Tiny Bubbles May Save the Planet (jdargis)

The polymer bubbles are filled with the entirely pedestrian ingredient of baking soda, long known to absorb carbon dioxide, but it’s the bubbles themselves that are the breakthrough. They’re permeable, which means that CO2 gets trapped and absorbed by the baking soda solution inside them. In theory, you could affix the bubbles to the inside of a power plant smokestack and trap the CO2 before it is released into the atmosphere.

Battered by Hurricane Sandy, Bought by New York and for Sale for a Song (jdargis)

The views to reedy Indian Island are still breathtaking, which helped the Schwartzes sell the property last summer. The price was $661,000, about what the home was worth before the storm. The buyer was New York State.

Now the state wants to sell the land for a minimum bid of $256,750.

The Truth About U.S. Crude Storage (Evan K.)

Media headlines would have us believe that oil is headed south of $40 as U.S. crude storage nears maximum capacity. Fortunately, this could not be further from the truth. In fact, oil producers could continue to add a million barrels a week and full capacity would not be reached for four years.

Four years after Fukushima, just one man lives in the exclusion zone – to look after the animals (jdargis)

“When I did eventually feed them, the neighbours’ dogs started going crazy,” he told Vice magazine in 2011. “I went over to check on them and found that they were all still tied up. Everyone in town left thinking they would be back home in a week or so, I guess.

Cyclone Pam: Vanuatu president says climate change contributed to death and destruction (jdargis)

Residents of Vanuatu describe the horror of the tropical cyclone which battered the Pacific island nation.

Gold & Silver

Click to read the PM Daily Market Commentary: 3/13/15

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."

6 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
California only has (about) one year of water left

As backup supply dwindles, Jay Famiglietti says state has about one year of water left and calls for a more ‘forward-looking process’ to deal with crisis

http://www.theguardian.com/us-news/2015/mar/16/california-water-drought-nasa-warning

Mark Cochrane's picture
Mark Cochrane
Status: Diamond Member (Offline)
Joined: May 24 2011
Posts: 1227
Sincere thanks!!!

Saxplayer,

I just wanted to expressly thank you for tirelessly providing news links day after day. I appreciate your contributions and find the links to be a very useful compliment to the daily news for the site.

Sincerely,

Mark

TAMWO37101's picture
TAMWO37101
Status: Bronze Member (Offline)
Joined: Jun 17 2012
Posts: 44
thx Saxplayer

Thanks Saxplayer!

  I look forward to your links everyday.  smiley

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4167
Thanks, Mark Cochrane and TAMWO37101

There couldn't be a more perfect site for sharing the news links. Thanks for reading.

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 320
Thank you!

Thank you for posting the Fukushima link today.

Thank you, Mr. Matsumura, for your selflessness, kindness, and caring!

"Never, never be afraid to do what's right, especially if the well-being of a person or animal is at stake.  Society's punishments are small compared to the wounds we inflict on our soul when we look the other way"  - Martin Luther King, Jr.

 

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Login or Register to post comments