Daily Digest 11/16 - The Fiscal Ski Jump, The Cost Of Making The Earth Move
In fact, it is exactly what we ought to be doing, since it solves 77% of the deficit problem in one fell swoop.
Of course, lovers of low taxes (which includes me) will claim that we should not support the “fiscal cliff” because it will raise taxes on everybody. But honestly, what’s the alternative?
Many of those who lost their jobs were unable to immediately file claims due to the dislocation caused by the storm. Sandy led to over 100 deaths, left no power in many homes, curtailed rail or subway services and insurance losses estimated are between $20 billion and $50 billion.
US industrial output figures for October are published at 1415 GMT.
The Cost Of Making The Earth Move (westcoastjan)
Coal and oil are not the only buried pollutants we’re bringing to the surface. Mining involves huge amounts of energy – obtained from burning fossil fuels – and water, often in places where both are scarce, which increases environmental pressure, as well as producing greenhouse gases that are warming the planet. And the methods used to separate out desired metals from the rest of the rock are often poisonous – whole river systems have been contaminated with mercury from gold panning, for example.
Jose Mujica: The world's 'poorest' president (westcoastjan)
President Mujica has shunned the luxurious house that the Uruguayan state provides for its leaders and opted to stay at his wife's farmhouse, off a dirt road outside the capital, Montevideo.
The president and his wife work the land themselves, growing flowers.
William Watson: The Fiscal Ski Jump (westcoastjan)
With just a day or two off to recover from the election, the same Not-So-Magnificent-Seven that couldn’t get to yes that July are about to try all over again to manoeuvre the U.S. government back onto a glide path that keeps its borrowing from threatening both its and the world’s economic growth. (The Seven are Barack Obama and Vice-President Joe Biden in the White House, Reid and Republican minority leader Mitch McConnell in the Senate, and Democratic minority leader Nancy Pelosi, Speaker John Boehner and Republican majority leader Eric Cantor in the House of Representatives. Strangely, according to Woodward, Biden is key. He’s “the McConnell whisperer.” Only he can soothe McConnell — though with Woodward having published that nickname for the whole world to read, you wonder if Biden’s whispering will still work.)
Irving, Texas-based Hostess has 565 distribution centers and 570 bakery outlet stores, as well as the 33 bakeries. Its brands include Wonder, Nature’s Pride, Dolly Madison, Drake’s, Butternut, Home Pride and Merita, but it is probably best known for Twinkies — basically a cream-filled sponge cake.
How Germany Is Getting To 100% Renewable Energy (westcoastjan)
Since then, Germany has created strong incentives for the public to invest in renewable energy. It pays people to generate electricity from solar panels on their houses. The effort to turn more consumers into producers is accelerated through feed-in tariffs, which are 20-year contracts that ensure a fixed price the government will pay. Germany lowers the price every year, so there’s good reason to sign one as soon as possible, before compensation falls further.
The Time-Bomb At The Heart Of Europe (westcoastjan)
The business climate in France has also worsened. French firms are burdened by overly rigid labour- and product-market regulation, exceptionally high taxes and the euro zone’s heaviest social charges on payrolls. Not surprisingly, new companies are rare. France has fewer small and medium-sized enterprises, today’s engines of job growth, than Germany, Italy or Britain. The economy is stagnant, may tip into recession this quarter and will barely grow next year. Over 10% of the workforce, and over 25% of the young, are jobless. The external current-account deficit has swung from a small surplus in 1999 into one of the euro zone’s biggest deficits. In short, too many of France’s firms are uncompetitive and the country’s bloated government is living beyond its means.
The billions of dollars that BP is set to pay will far outstrip its previous largest fine of $373 million, paid back in 2005, after a deadly explosion at a Texas oil refinery, a leak at an Alaskan pipeline, and a case of fraud for plotting to control and manipulate the US propane market.
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