Daily Digest 6/5 - Debt Bubble About To Burst, Solar Panel Payments Set Off Debate, 13 Sources Of Biofuel
- The Greatest Debt Bubble In The History Of The World Is Going To Burst
- U.N. Nuclear Chief Announces New Talks With Iran
- Goldman Sachs Cuts a Little Deeper
- Jim Rogers’ Most Dire Warning, “Please Get Worried”
- Solar Panel Payments Set Off a Fairness Debate
- 13 Strange and Interesting Sources of Biofuel
Not a single penny of government money can be spent unless it is approved by the U.S. House of Representatives, and the Republicans have total control of the U.S. House of Representatives.
So why are we still running trillion dollar deficits?
“They hit a bump,” David Albright, president of the Institute for Science and International Security, a Washington research group that tracks the Iranian nuclear program, said in a telephone interview. “Amano is trying to expedite things to make sure it’s not a stalling measure. The agency needs to expedite this and find out if the Iranians are serious.”
Goldman Sachs Cuts a Little Deeper (jdargis)
And Goldman isn’t the only firm cutting staff. Morgan Stanley reduced its work force by 2,935 during the 12 months that ended March 31. While it is a similar number to Goldman’s, this represents just 4.7 percent of its work force. If markets continue to deteriorate this summer, Morgan Stanley is likely to make additional small cuts.
“Staggeringly high” U.S. sovereign debt, to which Rogers alluded, is projected by most economists to top $16 trillion for fiscal 2012, and the rate of deterioration has soared dramatically since the global financial crisis began in 2008. The U.S. budget deficit for fiscal 2012 is expected to reach $1.6 trillion, or more, up drastically from $438 billion at the end of fiscal year 2008, and up 10-fold, or $162 billion, from 2007.
The net metering benefit, which is available to residential and commercial customers with renewable energy systems in more than 40 states and has helped spur a boom in solar installations, is at the heart of a battle. Utilities, consumer advocates and renewable energy developers across the country are fighting over how much financial help to give to solar power and, to a lesser extent, other technologies. Regulators are in the middle, weighing the societal benefits of renewables as well as how best to spread the costs.
Last summer, North Carolina Rep. John Torbett responding to the increasing theft of yellow kitchen grease, proposed a bill that would make it a felony to steal $1,000 or more of yellow grease, and a misdemeanor if less were stolen. Additionally, Torbett is proposing that any yellow grease collectors must be licensed and inspected if the collectors intend to resell either animal fats or vegetable oils for use as fuel. Lastly, the collectors must be able to prove that they have $1 million in liability insurance. Farmers who use such grease for the own purposes would be exempted if Torbett’s proposal is adopted in full.
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