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Post by jacquelope on May 27, 2013 1:43:10 GMT -6
Hey, it's not a depression until the economists say it is! <-- sarcasm
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Post by jacquelope on Apr 23, 2013 8:38:32 GMT -6
Merkle will be known as HERPaDERPle after this screw-up.
Solar power is viable, but it turns out this sudden changeover was too fast, too extreme. Saddening. This could have been a major blow for renewable energy.
Still, better nuclear than coal.
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Post by jacquelope on Apr 11, 2013 19:48:52 GMT -6
We could use some of that. Well, a whole lot.
Ah well, the trade deficit will eventually bring an end to everyone's efforts to prop up the dollar and supercharged (perhaps even hyper-) inflation will happen naturally. We Americans love to do nothing about things until shit blows up.
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Post by jacquelope on Jan 27, 2013 1:03:30 GMT -6
Wait, help me out here. The Plutocrats in France got rich by bleeding the country dry and underpaying their workers, now that the time has come to pay the piper they want to leave?
The countries that coddle these greedy bastards will suffer the price. Just ask the Cayman Islands and Dubai how their low tax nonsense went.
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Post by jacquelope on Jan 26, 2013 2:10:28 GMT -6
"(in response to equally hefty Chinese dumping)"
Holy shit that must be an indie news outlet. The MSM would never throw that in. They'd be all "damned tariffs, plague upon the free market, blasted xenophobes, blah blah blah"
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Post by jacquelope on Dec 28, 2012 22:52:11 GMT -6
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Post by jacquelope on Nov 26, 2012 19:02:03 GMT -6
I agree with raising taxes on the rich. But so far, Obama hasn't raised taxes on the rich one iota. In fact, he actively lobbied to extend the Bush tax cuts (despite dishonestly campaigning against them.) Obama's all talk and no action--just like he's been on trade, opposition to the individual mandate, spying on Americans, the misguided war on Terrorism, etc. There should be a picture of Obama next to the word "hypocrite" in the dictionary. Or "Spineless".
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Post by jacquelope on Nov 25, 2012 20:42:24 GMT -6
krugman.blogs.nytimes.com/2012/11/25/the-fake-skills-shortage/?smid=tw-NytimesKrugman&seid=autoThe Fake Skills Shortage Kudos to Adam Davidson for some much-needed mythbusting about the supposed skills shortage holding the US economy back. Whenever you see some business person quoted complaining about how he or she can’t find workers with the necessary skills, ask what wage they’re offering. Almost always, it turns out that what said business person really wants is highly (and expensively) educated workers at a manual-labor wage. No wonder they come up short. And this dovetails perfectly with one of the key arguments against the claim that much of our unemployment is “structural”, due to a mismatch between skills and labor demand. If that were true, you should see soaring wages for those workers who do have the right skills; in fact, with rare exceptions you don’t. So what you really want to ask is why American businesses don’t feel that it’s worth their while to pay enough to attract the workers they say they need.
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Post by jacquelope on Nov 25, 2012 9:49:19 GMT -6
Is it possible that cheap gasoline depends on subsidies and corporate welfare, just like solar? www.guardian.co.uk/environment/damian-carrington-blog/2012/nov/12/iea-report-peak-oil?intcmp=239How has it come to this? The simple answer is because the cost of the damage caused by carbon emissions is still not paid by the polluter. But the IEA's World Energy Outlook 2012 also highlights another huge problem which is throwing fuel on the fire: titanic subsidies for fossil fuels. The IEA estimates that $523 billion US dollars was burned in cutting fossil fuel prices in 2011. Coal, oil and gas are mature industries and should be more than able to stand on their own two feet by now. Renewable energy, in contrast, is relatively new and needs support in driving its costs down – which it is doing, fast – and to compensate for the market failures which mean greenhouse gases continue to be pumped into the atmosphere in ever greater quantities. Yet, in 2011, subsidies for renewables totalled only $88 billion around the world, meaning fossil fuels received six times more. The dirty fuels also got a bigger increase in subsidies in 2011: 30%, compared to the 24% for renewables. This just makes the libertarian case stronger--that we should stop subsidizing fuel production altogether. Just like Housing, energy production appears to be another area where Government intervention has distorted the market--and likely promoted less naturally favorable fuel production over more favorable production. Libertarians aren't the only ones calling for an end to fuel production subsidies. Liberals are, too. Wasn't Obama talking about that at some point before the 'Keepers' tightened their collar around his neck?
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Post by jacquelope on Nov 13, 2012 3:38:32 GMT -6
Is it possible that cheap gasoline depends on subsidies and corporate welfare, just like solar? www.guardian.co.uk/environment/damian-carrington-blog/2012/nov/12/iea-report-peak-oil?intcmp=239How has it come to this? The simple answer is because the cost of the damage caused by carbon emissions is still not paid by the polluter. But the IEA's World Energy Outlook 2012 also highlights another huge problem which is throwing fuel on the fire: titanic subsidies for fossil fuels. The IEA estimates that $523 billion US dollars was burned in cutting fossil fuel prices in 2011. Coal, oil and gas are mature industries and should be more than able to stand on their own two feet by now. Renewable energy, in contrast, is relatively new and needs support in driving its costs down – which it is doing, fast – and to compensate for the market failures which mean greenhouse gases continue to be pumped into the atmosphere in ever greater quantities. Yet, in 2011, subsidies for renewables totalled only $88 billion around the world, meaning fossil fuels received six times more. The dirty fuels also got a bigger increase in subsidies in 2011: 30%, compared to the 24% for renewables.
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Post by jacquelope on Nov 11, 2012 21:14:27 GMT -6
Many apologies, but I feel the banks should be destroyed.
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Post by jacquelope on Nov 7, 2012 22:15:41 GMT -6
Ignorance. They got nailed by Chinese subsidies. More ignorance. China cheats to compete. Miles and piles of ignorance. How come this adage isn't applied to Chinese government intervention in the market? Ignorance. Has this guy seen the petroleum industry and how well it's fared without government help? They get tons of help. Hello, military escorts? I call that even more ignorance. China's entire industrial system is subsidized and protected from the ground up, starting with dirt cheap labor. This idiot is putting the cart before the horse! HOT AIR ignorance! Chinese industries are far more polluting than American or German industries. Blocking Chinese imports means this solar market will be served by EPA-compliant companies. Who is this dunderfucked knucklehead trying to fool? Meanwhile this ignorant jackass thinks China is all sweet and innocent. W.T.F. Oh, I see. It's not ignorance. It's oil industry bought and paid for shilling. Solar is evolving to an era of energy decentralization which will make it harder for the big corporations to make money. When solar panels get married to 3d/nanoprinting the entire game is going to be changed. When industrial production gets married to 3d/nanoprinting, China's entire manufacturing sector is dead. jacquelope,
... you are correct about China's support of their solar panel manufacturing from the ground up ... they are today's version of Communists, so that should be expected. China benefitted from Obama's hands off trade policies. With Obama now re-elected China most likely will see only small changes from Obama with the Dems retaining the Senate. Obama did impose some tariffs on Chinese manufactured solar panels recently. Hardly any solar panels are manufactured now in America despite Obama's 'green' policies and Department of Energy grants and/or loans. Manufacturing solar panels in America collapsed even faster than my 2011 predictions for 2013 to 2015. He's going to need some super high tariffs to beat China. Nosebleed high. What's the bare minimum to be useful now, 200%? 500? 1100?
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Post by jacquelope on Nov 7, 2012 8:12:34 GMT -6
“Included in the list of failed solar companies is Solon of Germany whose corporate slogan was ‘Don’t Leave the Planet to the Stupid.’ Fortunately for taxpayers, it appears Solon will be leaving the planet.” Ignorance. They got nailed by Chinese subsidies. More ignorance. China cheats to compete. Miles and piles of ignorance. How come this adage isn't applied to Chinese government intervention in the market? Ignorance. Has this guy seen the petroleum industry and how well it's fared without government help? They get tons of help. Hello, military escorts? I call that even more ignorance. China's entire industrial system is subsidized and protected from the ground up, starting with dirt cheap labor. This idiot is putting the cart before the horse! HOT AIR ignorance! Chinese industries are far more polluting than American or German industries. Blocking Chinese imports means this solar market will be served by EPA-compliant companies. Who is this dunderfucked knucklehead trying to fool? Meanwhile this ignorant jackass thinks China is all sweet and innocent. W.T.F. Oh, I see. It's not ignorance. It's oil industry bought and paid for shilling. Solar is evolving to an era of energy decentralization which will make it harder for the big corporations to make money. When solar panels get married to 3d/nanoprinting the entire game is going to be changed. When industrial production gets married to 3d/nanoprinting, China's entire manufacturing sector is dead.
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Post by jacquelope on Nov 7, 2012 6:36:06 GMT -6
I didn't see this mentioned in here, but the other issue with the Smoot-Hawley fairy tale is how it DOES NOT EVEN APPLY to modern times.
The chart suggests that we were running small trade SURPLUSES during the run-up to S/H and afterwards. This is big, because if Smoot/Hawley really ever did any damage in any imaginary Free Traitor universe, it could only do damage if we were running trade surpluses. Such a broad, high, across-the-board tariff would be BENEFICIAL in an age of ultra high trade deficits. It would nullify the deficit. Whoops...
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Post by jacquelope on Aug 25, 2012 16:46:51 GMT -6
Could this lead to the collapse of the entire fractional reserve banking system? The way I understand it, the FRB system depends on new suckers for its "1 dollar becomes 9" Ponzi-like structure. A shrinking population means a shrinking potential for new loans to be written, which means the system can't find new suckers... which means the end of growth... and total collapse... right?
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Post by jacquelope on Aug 12, 2012 5:15:32 GMT -6
It's futile because we keep outsourcing to China, which means China produces more (for the US market), and each item produced generates more pollution than it would here.
If we cut off China, they'll produce less, and less pollution will be generated.
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Post by jacquelope on Aug 5, 2012 10:49:45 GMT -6
Now THIS is how you take care of business. Well done, Zambian miners, well done! www.bbc.co.uk/news/world-africa-19135435Zambian miners kill Chinese manager during pay protest Zambian miners have killed a Chinese manager by pushing a mine trolley at him during a riot at a coal mine in the south of the country. A second Chinese was injured, as were several Zambians, during the riot on Saturday. The workers were on strike at the mine in protest against delays in implementing a new minimum wage. They were angry their wages were lower than a new minimum of $320 (£205) a month paid to shop workers. Zambia's minister of labour has gone to the Chinese-owned Collum coal mine in Sinazongwe, 325km (200 miles) south of the capital, Lusaka. "Wu Shengzai, aged 50, has been killed by protesting workers after being hit by a trolley which was pushed towards him by the rioting miners as he ran away into the underground where he wanted to seek refugee," Southern province police commissioner Fred Mutondo told state news agency, the Zambia News and Information Services. "He died on the spot while his colleague is in hospital."
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Post by jacquelope on Aug 5, 2012 10:47:52 GMT -6
Say it ain't so! Er, no, wait, say it is so. www.reuters.com/article/2012/08/02/us-usa-bankruptcy-stockton-idUSBRE87100420120802Assured says Stockton bankruptcy plan unfair, favors Calpers By Peter Henderson SAN FRANCISCO | Wed Aug 1, 2012 8:02pm EDT (Reuters) - Bond insurer Assured Guaranty, facing massive losses in Stockton, California's bankruptcy, on Wednesday said the largest U.S. public pension fund, Calpers, was getting preferential treatment among creditors. That may set the stage for a fight over whether cities in dire circumstances legally have the ability to change obligations under pension plan benefits agreed to in much better times. Calpers, the California Public Employees' Retirement System, so far has said that the cities don't have that ability. A Stockton proposal to creditors in May, which was made before Chapter 9 proceedings began, showed the city on the far outskirts of the San Francisco Bay Area was ready to fully pay pension fund payments but largely abandon payments on $121 million of pension obligation bonds backed by Assured Guaranty. Assured calculated that the loss on bond principal would be 83 percent. That amounts to $100 million, which Assured would have to cover.
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Post by jacquelope on Jul 22, 2012 23:19:36 GMT -6
www.guardian.co.uk/business/2012/jul/21/global-elite-tax-offshore-economy£13tn: hoard hidden from taxman by global elite • Study estimates staggering size of offshore economy • Private banks help wealthiest to move cash into havens A global super-rich elite has exploited gaps in cross-border tax rules to hide an extraordinary £13 trillion ($21tn) of wealth offshore – as much as the American and Japanese GDPs put together – according to research commissioned by the campaign group Tax Justice Network. James Henry, former chief economist at consultancy McKinsey and an expert on tax havens, has compiled the most detailed estimates yet of the size of the offshore economy in a new report, The Price of Offshore Revisited, released exclusively to the Observer. He shows that at least £13tn – perhaps up to £20tn – has leaked out of scores of countries into secretive jurisdictions such as Switzerland and the Cayman Islands with the help of private banks, which vie to attract the assets of so-called high net-worth individuals. Their wealth is, as Henry puts it, "protected by a highly paid, industrious bevy of professional enablers in the private banking, legal, accounting and investment industries taking advantage of the increasingly borderless, frictionless global economy". According to Henry's research, the top 10 private banks, which include UBS and Credit Suisse in Switzerland, as well as the US investment bank Goldman Sachs, managed more than £4tn in 2010, a sharp rise from £1.5tn five years earlier. The detailed analysis in the report, compiled using data from a range of sources, including the Bank of International Settlements and the International Monetary Fund, suggests that for many developing countries the cumulative value of the capital that has flowed out of their economies since the 1970s would be more than enough to pay off their debts to the rest of the world. Oil-rich states with an internationally mobile elite have been especially prone to watching their wealth disappear into offshore bank accounts instead of being invested at home, the research suggests. Once the returns on investing the hidden assets is included, almost £500bn has left Russia since the early 1990s when its economy was opened up. Saudi Arabia has seen £197bn flood out since the mid-1970s, and Nigeria £196bn. "The problem here is that the assets of these countries are held by a small number of wealthy individuals while the debts are shouldered by the ordinary people of these countries through their governments," the report says. The sheer size of the cash pile sitting out of reach of tax authorities is so great that it suggests standard measures of inequality radically underestimate the true gap between rich and poor. According to Henry's calculations, £6.3tn of assets is owned by only 92,000 people, or 0.001% of the world's population – a tiny class of the mega-rich who have more in common with each other than those at the bottom of the income scale in their own societies. "These estimates reveal a staggering failure: inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people," said John Christensen of the Tax Justice Network. "People on the street have no illusions about how unfair the situation has become." TUC general secretary Brendan Barber said: "Countries around the world are under intense pressure to reduce their deficits and governments cannot afford to let so much wealth slip past into tax havens. "Closing down the tax loopholes exploited by multinationals and the super-rich to avoid paying their fair share will reduce the deficit. This way the government can focus on stimulating the economy, rather than squeezing the life out of it with cuts and tax rises for the 99% of people who aren't rich enough to avoid paying their taxes." Assuming the £13tn mountain of assets earned an average 3% a year for its owners, and governments were able to tax that income at 30%, it would generate a bumper £121bn in revenues – more than rich countries spend on aid to the developing world each year. Groups such as UK Uncut have focused attention on the paltry tax bills of some highly wealthy individuals, such as Topshop owner Sir Philip Green, with campaigners at one recent protest shouting: "Where did all the money go? He took it off to Monaco!" Much of Green's retail empire is owned by his wife, Tina, who lives in the low-tax principality. A spokeswoman for UK Uncut said: "People like Philip Green use public services – they need the streets to be cleaned, people need public transport to get to their shops – but they don't want to pay for it." Leaders of G20 countries have repeatedly pledged to close down tax havens since the financial crisis of 2008, when the secrecy shrouding parts of the banking system was widely seen as exacerbating instability. But many countries still refuse to make details of individuals' financial worth available to the tax authorities in their home countries as a matter of course. Tax Justice Network would like to see this kind of exchange of information become standard practice, to prevent rich individuals playing off one jurisdiction against another. "The very existence of the global offshore industry, and the tax-free status of the enormous sums invested by their wealthy clients, is predicated on secrecy," said Henry.
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Post by jacquelope on Jul 20, 2012 15:25:32 GMT -6
Who the fuck issued a filibuster/filibuster threat against this bill? It looks like it got snagged in the Senate.
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Post by jacquelope on Jul 16, 2012 22:46:30 GMT -6
Does anyone have a full list of the WTO fights between Obama and China, and who has won?
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Post by jacquelope on Jul 16, 2012 22:34:45 GMT -6
Told ya this was coming. America is waking up. The TPP may very well be doomed. It's time to get out and take this fight to the public. Obama already is. news.yahoo.com/made-america-policies-hugely-popular-survey-shows-210425838--abc-news-politics.htmlWhile President Obama and Mitt Romney bicker over whose policies will send more jobs overseas, there is one side of the job creation coin that both candidates agree on: that the government should do its darndest to keep manufacturing jobs in America. Unlike many of the job proposals both candidates are pushing, "Buy America" policies that encourage the government to buy products that are made in the U.S. whenever possible are hugely popular across party lines, according to a national survey commissioned by the Alliance for American Manufacturing and the United Steelworkers. "On the federal level if we can expose where we can see tax dollars leaking overseas we can reverse it because there is the political will to do that," said Scott Paul, the executive director of the Alliance for American Manufacturing. Overwhelming majorities of people from all political parties said they supported "Buy America" policies that would mandate that taxpayer money can only be used on goods that were made in America. Nearly 9 out of 10 Republicans and Independents and 91 percent of Democrats said they support "Buy America" preferences, according to the survey,which was conducted by the Democratic-leaning Mellman Group.
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Post by jacquelope on Jul 9, 2012 5:24:30 GMT -6
Capitalism cannot survive if we pass higher taxes on people like this. Before you know it those higher taxes will fund STASI spies directing Neo Soviet secret cops to where the Christians are hiding. The frozen tundra death camps will be filled with ... Bah, we all know that's bullshit. Tax the sum'bitches. A person who hoards 200 cats is called nuts, but when you hoard money to the tune of hundreds of millions of dollars, that's SANE??? Really??? www.alternet.org/economy/156143/the_great_capitalist_heist%3A_how_paris_hilton%27s_dogs_ended_up_better_off_than_you_/Summer 2009. Unemployment is soaring. Across America, millions of terrified people are facing foreclosure and getting kicked to the curb. Meanwhile in sunny California, the hotel-heiress Paris Hilton is investing $350,000 of her $100 million fortune in a two-story house for her dogs. A Pepto Bismol-colored replica of Paris’ own Beverly Hills home, the backyard doghouse provides her precious pooches with two floors of luxury living, complete with abundant closet space and central air. By the standards of America’s rich these days, Paris’ dogs are roughing it. In a 2006 article, Vanity Fair’s Nina Munk described the luxe residences of America’s new financial elite. Compared with the 2,405 square feet of the average new American home, the abodes of Greenwich Connecticut hedge-fund managers clock in at 15,000 square feet, about the size of a typical industrial warehouse. Many come with pool houses of over 3,000 square feet. Steven Cohen of SAC Capital is a typical product of the New Gilded Age. He paid $14.8 million for his Greenwich home, which he stuffed with a personal art collection that boasts Van Gogh's Peasant Woman Against a Background of Wheat (priced at $100 million); Gauguin's Bathers ($50 million); a Jackson Pollock drip painting (also $50 million); and Andy Warhol's Superman ($75 million). Not satisfied, Cohen spent millions renovating and expanding, adding a massage room, exercise and media rooms, a full-size indoor basketball court, an enclosed swimming pool, a hairdressing salon, and a 6,734-square-foot ice-skating rink. The rink, of course, needs a Zamboni ice-resurfacer which Cohen houses in a 720-square-foot shingle cottage. Munk quotes a visitor to the estate who assured her, “You'd be happy to live in the Zamboni house.” So would some of the over 650,000 Americans sleeping in shelters or under highway overpasses.
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Post by jacquelope on Jul 7, 2012 15:31:19 GMT -6
What the HELL is still keeping the dollar up? We can't take much more of this. This only helps China, Mexico and India.
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Post by jacquelope on Jun 13, 2012 11:45:25 GMT -6
www.boston.com/business/articles/2012/06/12/striking_miners_in_north_spain_use_violent_tactics/Striking miners in north Spain use violent tactics Spain—Striking coal workers blocked roads with burning tires and fired missiles at police to stop them breaking up protests in northern Spain Tuesday, officials from the recession-hit country said. While some miners have remained underground for 23 days, thousands of others in the northern provinces of Asturias and Leon set tires alight -- sending plumes of black smoke into the night sky -- to highlight calls for negotiations on job cuts, said Anibal Vazquez, mayor of Mieres. Jose Angel Fernandez of the General Workers' Union said protesters had decided to use the "strong tactics" because police in riot gear had fired tear gas and used baton-charges. "We have been using lengths of pipe to aim skyrockets, slings, golf ball launchers and even a homemade device to fire potatoes to keep the police away," said Gerardo Cienfuegos, 39, who has been a miner since he was 16 years-old. Mining has been an integral part of the economy of the two northern provinces since Roman times. Many miners are worried that government cuts -- including a reduction in mining subsidies from (EURO)300 million to (EURO)110 million ($375 million-$137 million) -- will mean the end of their industry. Some 8,000 miners work in northern Spain, said Fernandez, who added that the sector had been making big strides to become self-sufficient but the cuts would come at the worst possible time. "The cuts proposed by the government will mean the death of mining here and the end of hope for many youngsters new to mining," said Vazquez, 57, who was elected mayor after working 27 years underground.
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Post by jacquelope on Jun 3, 2012 15:21:03 GMT -6
[ But driving people into poverty WILL ultimately lead to an armed revolution. People tolerate their freedom being eliminated far better than they tolerate poverty and collapse of their living standards. History has born this out time and time again. Prior to the French Revolution, peasant and poor people revolts historically fail, miserably. Plutocrats are not really letting it sink in that since the French Revolution, such revolts have generally ended successfully. The Plutocrats are now betting on the supremacy of armed drones. They think the drones will, once the tech is matured, destroy an armed insurrection before they have to even think about deploying their troop-thugs. Hackers may turn their drones against them...
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Post by jacquelope on Jun 3, 2012 6:41:22 GMT -6
And Americans are such cowards that they won't come in and raze those places to the ground.
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Post by jacquelope on May 31, 2012 10:53:16 GMT -6
www.reuters.com/article/2012/05/26/us-climate-germany-solar-idUSBRE84P0FI20120526Germany sets new solar power record, institute says (Reuters) - German solar power plants produced a world record 22 gigawatts of electricity per hour - equal to 20 nuclear power stations at full capacity - through the midday hours on Friday and Saturday, the head of a renewable energy think tank said. The German government decided to abandon nuclear power after the Fukushima nuclear disaster last year, closing eight plants immediately and shutting down the remaining nine by 2022. They will be replaced by renewable energy sources such as wind, solar and bio-mass. Norbert Allnoch, director of the Institute of the Renewable Energy Industry (IWR) in Muenster, said the 22 gigawatts of solar power per hour fed into the national grid on Saturday met nearly 50 percent of the nation's midday electricity needs. "Never before anywhere has a country produced as much photovoltaic electricity," Allnoch told Reuters. "Germany came close to the 20 gigawatt (GW) mark a few times in recent weeks. But this was the first time we made it over." The record-breaking amount of solar power shows one of the world's leading industrial nations was able to meet a third of its electricity needs on a work day, Friday, and nearly half on Saturday when factories and offices were closed. Government-mandated support for renewables has helped Germany became a world leader in renewable energy and the country gets about 20 percent of its overall annual electricity from those sources. Germany has nearly as much installed solar power generation capacity as the rest of the world combined and gets about four percent of its overall annual electricity needs from the sun alone. It aims to cut its greenhouse gas emissions by 40 percent from 1990 levels by 2020.
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Post by jacquelope on May 18, 2012 20:04:10 GMT -6
I read this article myself. And I've seen this concept before. It is NOT a valid concept. It is valid if you factor in the hocus pocus skills of the Plutocracy. In a natural economic environment this is not possible, but when the Plutocrats are hoarding the benefits of increased productivity, a global shortage of jobs is the end result. This is in fact a planned outcome. It will facilitate the artificial mass redundancy of BILLIONS of working class people. Makes it easier to cull their numbers. This is a quiet mass murder of the world's population. They're not using Mongol-style mass slaughters, deadly gas and bio-weapons, or concentration camps to make it happen; they're using economics. Starvation, workers fighting workers, suicides (see: Greece), and when the workers rebel: combat drones.
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Post by jacquelope on May 10, 2012 8:17:16 GMT -6
Boy, I knew this was coming. This is the end game for the working class. www.businessinsider.com/global-reality-surplus-of-labor-scarcity-of-paid-work-2012-5Charles Hugh Smith, Of Two Minds | May 7, 2012, 6:48 PM | 1,846 | 16 The industries that are increasing productivity do so by eliminating entire industries and entire job categories. The global economy is facing a structural surplus of labor and a scarcity of paid work. Here is the critical backdrop for the global recession that is unfolding and the stated desire of central banks and states everywhere for "economic growth": most of the so-called "growth" since the 2008 global financial meltdown was funded by sovereign debt and "free money" spun by central banks, not organic growth based on rising earned incomes. Take away the speculation dependent on "free money" and the global stimulus dependent on massive quantities of fresh debt, and how much "growth" would be left? ...
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