Daily Digest

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Daily Digest 4/16 - The Rise Of The Paper Machines, Hydrogen Fuel Cells Return

Thursday, April 16, 2015, 10:24 AM

Economy

Detroit, Stockton bankruptcies may flag wider problems -Fed's Dudley (thc0655)

Dudley said borrowing to pay off a current year operating deficit is inconsistent with running a balanced budget, leaves the municipality with no new asset, and is "equivalent to asking future taxpayers to help finance today's public services."

The Common Painkiller That Also Kills Pleasure (Arthur Robey)

The research might suggest, though, that some factors affect both our positive and negative emotions in a similar way.

It could even be, Geoffrey Durso said, that the study tapped into some difference between people in how they react to both positive and negative events...

What You Need to Know About Trade Agreements and Fast Track (gallantfarms)

Another major issue in these trade agreements relates to rules of procurement. For example, the US has many farm to school programs in place to support local farmers and local businesses, but public programs like these can be challenged by a foreign corporation saying, “We’re not eligible for that program, and that’s illegal under the trade rules.” As crazy as that sounds, that’s a very real concern. As noted by Lilliston, “the ‘Buy American’ provisions, which are very common in public procurement programs right now, could be under threat under trade rules.” Many states also have their own environmental regulations in place to protect human and environmental health. These too could be challenged by these trade agreements.

Central bankers gather privately in Washington this Friday to discuss gold (thc0655)

But if you don't get an invitation, you can fairly assume that the valuation of all capital, labor, goods, and services in the world is none of your business. This is after all the central bankers' world. The rest of us are lucky that they let us even pass through it from time to time, though the impertinent among us might wonder why central bankers should need to talk in secret about something supposedly as irrelevant and retrograde as gold.

Good thing for them that mainstream financial journalists have neither curiosity nor backbone.

The Rise Of The Paper Machines (Taki T.)

Group One markets are “paper” markets in fiat debt, fiat currency, and paper equities. They are heavily influenced by “money printing,” Quantitative Easing, High-Frequency-Trading, futures, central banks, and political agendas.

Group Two markets are supposedly more real commodity markets, but they are also influenced by futures trading, HFT, and other agendas.

Tony Abbott says iron ore price collapse blew $30-billion black hole in federal budget (Arthur Robey)

Mr Abbott also used today's speech to formally confirm that the Government will not go ahead with a promised company tax cut for big businesses.

But larger companies will not be forced to pay a levy that was designed to help fund the Prime Minister's dumped paid parental leave scheme.

Has The U.S. Reached “Peak Oil” At Current Price Levels? (Evan K.)


One has to wonder if “Peak Oil” at the current price deck in the US is very real indeed. Look for draws and not inventory additions to start in earnest in May. The next media spin will now focus on future risks to oil supply in 2016 to keep the oil curve flat, whether it be the rise in the US dollar or Iran. The short term risks appear to be clearing so the attention will be turning on preventing prices from rising too high. Just this morning, Dow Jones ran an article quoting the Citibank oil analyst that days of triple digit prices are in past. Thump…that’s the sound once again of someone falling off their chair in utter amazement as to what is occurring to distort reality.

Saudi Arabia’s Plan to Extend the Age of Oil (lambertad)

“What they did was historic,” Daniel Yergin, the pre-eminent historian of the oil industry, told Bloomberg in February. “They said: ‘We resign. We quit. We’re no longer going to be the manager of the market. Let the market manage the market.’ That’s when you got this sort of shocked reaction that took prices down to those levels we saw.”

Fighting Homelessness, One Smartphone at a Time (jdargis)

Sometimes, Silicon Valley’s belief that tech can solve any problem — not just ordering cabs and sharing selfies, but ending homelessness or poverty — can seem like a stretch. Even Bill Gates, a founder of Microsoft, has argued against the idea. “P.C.s are not, in the hierarchy of human needs, in the first five rungs,” he said in a 2013 interview.

Hydrogen Fuel Cell Cars Return for Another Run (jdargis)

In June, the couple, from Dana Point, became the second California family to lease the hydrogen version of the Hyundai Tucson crossover sport utility vehicle. They are paying $499 a month with $2,999 down, decisively more than they would for the same Tucson with a gasoline engine. But perks include a $5,000 purchase rebate from the state and three years’ worth of free hydrogen from Hyundai.

Gold & Silver

Click to read the PM Daily Market Commentary: 4/15/15

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."

11 Comments

saxplayer00o1's picture
saxplayer00o1
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saxplayer00o1's picture
saxplayer00o1
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Posts: 4145
India’s central bank chief accuses G-7 of currency manipulation

“You can’t pull yourself out of crisis by depreciating your exchange rate, and then turn around and point a finger at everybody else,” Rajan said.

DennisC's picture
DennisC
Status: Gold Member (Offline)
Joined: Mar 19 2011
Posts: 309
Article Links are Fantastic

I read a lot of stuff everyday but the news links you all come up with are terrific, and I really enjoy broadening my "situational awareness".  The hydrogen car link got me going.  It looks like this is finally economically feasible, thank goodness.  Technology to the rescue again...yeah.  Now, with a little ocean acidification, and more hydrogen technically available for capture, it should be a win-win (one of my favorite corporate HR terms) for all of us.  And the exhaust is water!  Who would have thought, right?

Meanwhile, in CA, some of the water utilities are complaining that they won't be able to make any money if people have to cut back on water usage.  Ah, the irony. http://www.latimes.com/local/lanow/la-me-ln-water-cut-targets-20150415-s... .  The sewage treatment facilities will be complaining next.  In my area, the sewer bills are based on twice the water usage.  Don't worry, even after there is virtually no water left to "sell", they'll still charge you monthly for the privilege of having the empty water line connected to you house.

 

robie robinson's picture
robie robinson
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cmartenson's picture
cmartenson
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Posts: 5727
Now if we could jsut make hydrogen cheaply...

I love the thought of using hydrogen, but it's a tricky substance.  Hard to transport and store (it ruins most metals with prolonged contact), and it costs energy to make.

Still, if we had a surplus of solar or wind energy then we could perform water hydrolysis...not a perfect method, but better than nothing.

 

davefairtex's picture
davefairtex
Status: Diamond Member (Offline)
Joined: Sep 3 2008
Posts: 5412
surplus wind

Rumor has it that Europe is going to have a large amount of surplus wind energy.  Going to ruin the grid, etc.  If wind electricity really will cost $0 during times of surplus, presumably converting it to hydrogen at that time would be a reasonable use of the power.

If we had a cheap enough (capex cost) hydrogen generation method, done locally, it could generate hydrogen gas to fill your car, or your home hydrogen tank for heating or cooking using all that surplus wind power.

Not sure the EROEI would pencil out on the total system - but maybe it would.  That's my fantasy anyway.

Tall's picture
Tall
Status: Platinum Member (Offline)
Joined: Feb 18 2010
Posts: 564
More on ocean acidification

LONDON—Scientists have identified the lethal agency that caused the single most catastrophic event in the history of life on Earth. The mass extinction at the boundary of the Permian and Triassic eras 252 million years ago was caused by the acidification of the world’s oceans, as a consequence of an increase in atmospheric carbon dioxide.

http://www.truthdig.com/report/item/carbon_dioxide_triggered_ancient_mas...

pat the rat's picture
pat the rat
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Posts: 116
bankers talk gold

Why are bankers talking about gold ? Planing how they are going use it for money or take it back ? I don' t know ,but I don't like it! Think they are planing to take it back. 

Time2help's picture
Time2help
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Posts: 2831
Bloomberg Terminals Down

Bloomberg outage causes financial havoc as UK forced to delay £3bn debt sale

And in local news, bees are having a rough day again.  Hopefully some of the colonies escaped to the wild...

Semi-truck carrying bees tips on I-5 near Lynnwood

(Edit: Market appears to be taking a dump as well)

Time2help's picture
Time2help
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Posts: 2831
Better Print Boys

Yellen!  Where is Yellen?!?  Ahh, there you are!  Quick, hit ctrl-P!  Hit it again. Again!  Again!  Again!!!

HIT IT!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

VeganDB12's picture
VeganDB12
Status: Platinum Member (Offline)
Joined: Jul 18 2008
Posts: 740
Walmart abruptly closes 5 stores

http://money.cnn.com/2015/04/16/news/companies/walmart-closing-plumbing/

 

2,200 families without a full time income. Brought to them by the richest business family in America. I find this particularly galling for some reason,  perhaps because of the lame excuse (close 5 store for 6 months to fix plumbing?).

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