Global Economy Bursting?

[Workbox]

Those EU countries have 2 options.

1. Be slaves to debt and the Banksters.
2. Go into default and tell the Banksters to "F" off.

An alternative would be a military coup d'état. :new_smile-l:

http://www.athensnews.gr/portal/8/49916

 

[Restrain]

Greek PM has just replaced the top military officers with ones more loyal to him. Worried about that very thing.

 

[Randolph Kinney]

Austerity Faces Test as Greeks Question Their Ties to Euro

http://www.nytimes.com/2011/11/02/w...urmoil.html?_r=1&nl=todaysheadlines&emc=tha22

Greeks now openly questioning whether their commitment to Europe and its single currency still matters more to them than control over their own future and economic well-being.

The choice is imminent: austerity imposed by Germany or default and possibly leave the euro zone altogether.

Austerity has undermined growth and increased unemployment in Greece, Spain, Portugal and now Italy.

Many Greek politicians appear to be calculating, at this late stage, that they have more to lose by sticking to Germany’s terms than by risking a messy default, and even going it alone with their old currency, the drachma, outside the euro zone.

 

[Randolph Kinney]

A Greek moment for the U.S.?

Deficit Panel Is Warned That It Must Not Fail and Is Urged to Compromise

http://www.nytimes.com/2011/11/02/u...st-not-fail.html?nl=todaysheadlines&emc=tha24

A co-chairman of President Obama’s fiscal commission told members of a powerful Congressional panel on deficit reduction Tuesday that he feared they would fail, and he said the consequences of such failure could be calamitous.

41 senators and more than 235 House members have pledged in writing to oppose all tax increases.

AARP was blocking needed changes in Medicare and Social Security. AARP advertisement has been described as "the most disgusting" bullying and intimidation yet seen.

If Congress buckles to pressure from Mr. Norquist and AARP, Mr. Simpson said, “we haven’t got a prayer, and neither have you.”

 

[Randolph Kinney]

Whispers of Return to Drachma Grow Louder in Greek Crisis

http://www.nytimes.com/2011/11/02/b...t-in-greece.html?nl=todaysheadlines&emc=tha25

The political upheaval in Athens has suddenly made the once unspeakable — Greek debt default — a distinct possibility.

 

[Randolph Kinney]

The 1% Love Solar Subsidies Paid By The Other 99%

http://www.science20.com/science_20/blog/1_love_solar_subsidies_paid_other_99-84097

 

[Randolph Kinney]

Wind Turbines Suck Power Like Vampires

http://www.calwatchdog.com/2011/11/01/wind-turbines-suck-power-like-vampires/

Despite all the claims of renewable power proponents about the advantages of clean wind energy, a little known secret is that wind turbines are power parasites.

Power engineer Willem Post, writing online at TheEnergyCollective.com, defines parasitic power as “the power used by a wind turbine itself.” In other words, wind turbines don’t just generate power, they also require power whether the turbine is operating or not.

When Southern Californians drive along Interstate 10 through the San Gorgonio Pass near Palm Springs, they may see wind turbine blades revolving at low speeds (instead of high speeds when the wind picks up). When that happens, the turbine may actually be drawing power from the grid.

Post says that, during the spring and summer, the parasitism of wind turbines may be less likely. But during winter it “may be 10-20 percent of the wind turbine output.” In winter, the wind speed needs to be well above 10.7 miles per hour to offset parasitic power drawn out of the grid. More than 10.7 mph and a wind turbine will supply the grid; lower than 10.7 MPH and it will rob from the grid.

Although the useful life of a wind turbine is quoted as 25 years, the gearboxes and blades fail within 5 to 10 years.

 

[Riick]

Kindly ignore the collapse of MF Global & latest John Corzine hijinks

Creative Destruction: MF Global Fails

Their CEO?:
Former Goldman Sachs ("GS") partner & former Gov. of N.J. -- John Corzine


LINK


This failure is just not that simple:
Who knew What, and When?
Why didn't the NY Fed Reserve Bank act much sooner?
Can you still manage to say the word incompetent,
or should you say an easier word, like corrupt?
.

 

[Randolph Kinney]

12/29 looks like a pretty certain drop dead, if not before that.

 

[Randolph Kinney]

Just like Greece San Diego doesn't have the money

School Closure Plan Dashed; Credit Rating Downgraded Again

The San Diego school board voted Tuesday night to kill a plan to close campuses to resolve budget problems and then agreed to look into the idea of asking voters to levy new taxes on property owners.

The backtracking on school closures made many parents happy but the fact that the idea came up in the first place left some embittered.

A second ratings firm in as many weeks downgraded the district's credit rating, a move that will likely increase the district's interest rates when it borrows money. Standard & Poor's cited the district's tight budget and looming pay increases for workers next year as its reason for the downgrade.