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What We Read Today 10 May 2014

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

  • Why America's about to run out of money for roads (again) (Brad Plummer, Vox) With falling consumption of gasoline federal and state gas tax revenues have fallen about 20% each over the last ten years. That source of money no longer covers the planned highway related maintenance and construction. And Congress can't figure out how to complete $47 billion in projects currently underway which will be halted by August if no action is taken.

  • Harvard Study Proves How Dangerous GMOs Are to Humans (Susanne Posel, Investigative Headline News, Occupy Corporatism) The article doesn't meet the promise of the headline. It is written in a confusing manner and spurious linkage appears to be made between GMO responsibility for nutrient loss in plants at higher atmospheric CO2 levels. Most of the plants in the study described were GMO but there doesn't appear to be any control of that variable with a sample set that is not GMO. So the loss of nutrients in GMO crops grown in an atmosphere with higher CO2 may or may not be the same as for non-GMO plants. See next article.
  • Draghi Outlook Sends Euro Spiraling (Barbara Zigah, Daily Forex) Mario Draghi, the head of the European Central Bank, said Friday that a monetary policy change might soon occur in order to halt declining inflation. That was not good news for the euro.

Today there are 13 articles discussed 'behind the wall'.

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  • Map: Where the average student loan burden is largest (Niraj Chokshi, The Washington Post) More than a million Americans will graduate from college this year with substantial student loan debt, averaging $26,500 per debtor. But many states are below that average when all outstanding student debt is tabulated.

student-debt-map

  • Hospitals see PPACA admissions boost (Allison Bell, Life Health Pro) The biggest change is a 17% increase in hospital admissions in states that accepted expandied medicaid and a 1% decline in states that did not. Aha!!! Clear proof that Medicaid is damaging to health.
  • The Future of the U.S. Oil Boom Is Anyone’s Guess (Ben Casselman, Five Thirty Eight) The U.S. EIA (Energy Information Agency) doesn't have a clue about fairly near term oil production in the U.S. They expect the unprecedented surge in U.S. oil production to continue for at least a couple of years more. Then their lights go out. If you have a lot of time read the Annual Energy Outlook 2014 with projections to 2040. If you don't have a lot of time Casselman has the report on U.S. oil production forecast summarized in one graph:

oil-production-us-eia-2014-may

The crowning achievement of the efficient markets hypothesis, and the culmination of a decades long lobbying effort by the financial sector. Setting capitalism free to do God's work.

Bubbles, control frauds, financial crises, human misery, and bail outs.

Lest we forget this broadly bipartisan effort to set the predator class free. And they remain largely unencumbered, indicted, and unashamed.

taxes-and-soc-security-12-countries-CNNMoney
By: Alanna Petroff and Tal Yellin / CNNMoney

  • The Drugs Used In Execution By Lethal Injection (David Kroll, Forbes) We can give our pets a peaceful end of life when there is nothing else that can be done for them with a simple injection. Why can't that be done for a death row execution?

small-business-decline

  • Pando at the NRA: The “Zuckerberg of guns” could save lives and make millions, but he’ll have to fight the NRA first (Yasha Levine, Pando Daily) Legendary Silicon Valley angel investor Ron Conway has launched a foundation and a $1 million competition to find and fund inventors of next-gen smart gun technology. The competition is open to all types of tech: biometric grips, RFID bracelets, Bluetooth gun-pairing smartphone apps, and whatever else people come up with. Winners are being selected now, and will be awarded with prizes of up to $200,000 to develop the technology to the point that they can get their first round of investors. But the NRA isn't buying the idea and is actively rallying against this form of gun safety.
  • Americans Will Burn Less Oil 25 Years From Now (Ben Casselman, Five Thirty Eight) Oil consumption in the U.S. has actually been falling for several years. Since 2005 total oil consumption has declined from almost 21 million barrels per day to approximately 18.5. The decline is projected to continue in the coming decades, although at a slower rate.

oil-fuels-us-forecast-to-2040-eia-2014-may


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