Daily Digest 5/14 - CA Budget Shortfall At $16B, A 50 Year Plan For Energy, China To Free Cash For Lending
- For Many in Greece, Austerity Is a False Choice
- FBI Concerned About Bitcoin Usage Among Cybercriminals
- Amid Signs of Economic Weaknesses, China to Free Cash for Lending
- Shortfall in California’s Budget Swells to $16 Billion
- A Generation Hobbled by the Soaring Cost of College
- Saudi Arabia Plan $109 Billion Solar Energy Project to Reduce Oil Consumption
- Amory Lovins: A 50-year plan for energy
- Dual Fuel Vehicles that can Run on Gasoline or Natural Gas
The fear is not so much that Syriza’s platform becomes policy. As expected, its leader, Alexis Tsipras, failed in his attempt to form a government last week, as did the Socialist Party leader Evangelos Venizelos on Friday. Those efforts continued through the weekend, to no avail, and Greece seemed set to go to the polls once again next month.
The limitations of Bitcoin’s anonymity are covered as well, as a 2011 study by researchers from the University College of Dublin, Ireland is referenced that found that by examining transaction records and public-private keys, law enforcement could link some public information about actual Bitcoin users to their accounts.
This is the first time that the FBI has issued anything close to an assessment on the up and coming cash system that relies on users to exchange virtual 'Bitcoins,' along with digital signatures to conduct their transactions.
China has considerable room for further reductions if its economy shows further weakness. While it is hard to compare reserve ratios across national borders because of differences in how they are calculated, by some calculations Chinese ratios are now roughly twice those found in the West.
China had raised the reserve ratio six times through last July in a bid to contain inflation. Inflation peaked in July at 6.5 percent.
Mr. Brown disclosed the news in a video that had all the trappings of a campaign announcement. In it, he aggressively accounted for the steps he said he had taken to try to scale back a $26 billion deficit he found upon taking office. And he urged viewers to back an initiative he is putting on the November ballot that would increase sales taxes by 0.25 percent and impose an income tax surcharge on wealthy Californians to try to stave off more cuts.
For all borrowers, the average debt in 2011 was $23,300, with 10 percent owing more than $54,000 and 3 percent more than $100,000, the Federal Reserve Bank of New York reports. Average debt for bachelor degree graduates who took out loans ranges from under $10,000 at elite schools like Princeton and Williams College, which have plenty of wealthy students and enormous endowments, to nearly $50,000 at some private colleges with less affluent students and less financial aid.
According to Maher al- Odan, a consultant at the King Abdullah City for Atomic and Renewable Energy (Ka-care), the plan involves developing 41,000 megawatts of solar power within two decades. 25,000 MW will be from solar thermal plants, using huge heliostatic mirrors to reflect the sun’s rays onto a central tower that heats a fluid to drives a turbine; and 16,000 MW will be in the form of photovoltaic panels.
Al-Odan states, “we are not only looking for building solar plants. We want to run a sustainable solar energy sector that will become a driver for the domestic energy for years to come.”
In this intimate talk filmed at TED's offices, energy theorist Amory Lovins lays out the steps we must take to end the world's dependence on oil (before we run out). Some changes are already happening -- like lighter-weight cars and smarter trucks -- but some require a bigger vision.
The catch is one needs two fuel tanks. Not something you add on at home. But the manufacturers are catching on. Ford’s CNG trucks have been available since 2009. Dual-fuel sedans are expected to follow in the 2013 model year. GM is offering two pickup models and a dual-fuel Ram Heavy Duty truck production model of the Dodge Ram has a load-bearing compressed natural gas tank immediately behind the cab with the normal gas tank in the usual place.
Article suggestions for the Daily Digest can be sent to dd@PeakProsperity.com. 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."