Daily Digest 2/23 - Bailout Illusion For Europe, Japan To Invest In Floating Wind Farms, Tokyo 'As Contaminated As Chernobyl'
- Obama Offers to Cut Corporate Tax Rate to 28%
- Infographic On The Greatest Gun Salesman In America: President Obama
- For Greece, a Bailout; for Europe, Perhaps Just an Illusion
- Marie Colvin's killing piles pressure on Assad as civilian death toll rises
- New York Judge Rules Town Can Ban Gas Hydrofracking
- Japan Starts to Invest in Tsunami-Proof, Floating Wind Farms
- Market Deja Vu? The Price of Gasoline Begins To Surge Out Of Control Again
- How Closely are Oil Prices Tied to Economic Activity?
- Tokyo is as contaminated as the worst place in Chernobyl
With the framework for changes that the Treasury secretary, Timothy F. Geithner, will outline on Wednesday, Mr. Obama will enter an election-year debate with Republicans in Congress and in the presidential race who seek even lower taxes for businesses. But an overhaul of the corporate code is unlikely this year, given that political backdrop and the complexity of an undertaking that would generate a lobbying frenzy as businesses vie to defend old tax breaks or win new ones.
Ironically, the perceived hostility towards gun owners by President Obama has actually helped the firearms industry tremendously. Since the 2008 election, more Americans than ever before are purchasing firearms & ammunition. This has meant massive increases in sales by firearm & ammunition makers, billions more in federal and state tax collections related to guns & ammo, increased membership in the NRA, and hundreds of thousands of new Americans carrying concealed handguns. Therefore, should the firearms industry support President Obama for a second term or not?
Throughout the crisis, the European Union’s favored strategy has been to provide tightly controlled financial support to highly indebted countries, in the hope of buying them enough time to put in place policies aimed at cutting budget deficits. While such moves can deepen recessions, the goal is to eventually lower debt levels and win back the confidence of the bond markets.
Their deaths came on a day in which, according to activists, more than 80 people were killed in the besieged district of Baba Amr in Homs, which has been under daily attack by the Syrian army for three weeks.
The French president, Nicolas Sarkozy, called the journalists' deaths an assassination and said the Assad era had to end.
“The communities targeted for drilling need the power to determine for themselves when, where and if fracking is permitted,” Katherine Nadeau, the water and natural resources program director for Environmental Advocates of New York, said in a statement. She said the ruling would energize “the dozens, if not hundreds, of cities and towns concerned with industrial gas drilling.”
The floating Kamisu wind farm just off the coast of the Ibaraki prefecture comprises of just seven 2 megawatt wind turbines, but was able to withstand the tsunami and provided vital electricity in the wake of the disaster.
The price of gas is going even higher even though energy consumption is sharply declining in the United States. Just check out the charts in this article by Charles Hugh Smith. Americans are using less gasoline and less energy and yet the price of gas continues to go up.
That is not a good sign.
It is no surprise that import bills go up when oil prices increase. It is more surprising that GDP often goes up too. Figure 1 depicts the correlation between oil prices and GDP for 144 countries from 1970 to 2010. More precisely, it shows the cyclical components of oil prices and GDP, with long-term trends excluded. The set includes 19 oil-exporting countries, represented by red bars, and 125 oil-importing countries, represented by blue bars. A positive correlation indicates that when oil prices go up, GDP goes up, and when oil prices go down, GDP goes down.
The contamination level of Mizumoto Park turned out to be the same level of “off-limits zone” in Chernobyl. The contamination level of the park was 23,300 Bq/Kg. According to Nuclear Safety Commission, it is converted to be 1.4 ~1.5 million Bq/m2.
In Chernobyl, if the area is more contaminated than 1.48 million Bq/m2, it was labeled as off-limits zone, which was the worst level of the pollution. Because cesium doesn’t choose Mizumoto park intentionally, at least some parts are contaminated as the worst area of Chernobyl.
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