Daily Digest

Daily Digest - January 31

Sunday, January 31, 2010, 10:41 AM
  • EU Reluctantly Plans Athens Bail-Out
  • The Places They Go When Banks Say No
  • David Walker: The Scary Budget Numbers
  • Mauldin: This Time Is Different
  • Obama Said to Seek $54 Billion in Nuclear-Power Loans
  • China Leading Global Race to Make Clean Energy

Economy

EU Reluctantly Plans Athens Bail-Out (Brian C.)

The talks among the European Union's top policymakers on how to extend emergency support to Greece have yet to produce a formal rescue plan because Germany, France and others in the 16-nation eurozone insist that the Greek government bears the primary responsibility for digging itself out of its crisis, EU officials said.

The Places They Go When Banks Say No (Nickbert)

His longtime bank wanted nothing to do with his company, Mr. Levy says, and several other banks spurned his loan requests, too. After a year of hand-wringing, he found an unconventional lender that was still making loans — lots of them.

David Walker: The Scary Budget Numbers (Robert C.)

The recession and attendant financial shock appear to be easing as I write this. But in Washington, financial imprudence is part of the fabric of government. You can see that in a single document that gets updated every year: the US budget.

Mauldin: This Time Is Different (JRB)

When does a potential crisis become an actual crisis, and how and why does it happen? Why did most everyone believe there were no problems in the US (or Japanese or European or British) economies in 2006? Yet now we are mired in a very difficult situation. “The subprime problem will be contained,” said now controversially confirmed Fed Chairman Bernanke, just months before the implosion and significant Fed intervention.

Energy

Obama Said to Seek $54 Billion in Nuclear-Power Loans (Samuel A.)

President Barack Obama, acting on a pledge to support nuclear power, will propose tripling U.S. loan guarantees for new reactors to more than $54 billion, an administration official said.

China Leading Global Race to Make Clean Energy (Nickbert)

These efforts to dominate renewable energy technologies raise the prospect that the West may someday trade its dependence on oil from the Mideast for a reliance on solar panels, wind turbines and other gear manufactured in China.

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4 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Re: Daily Digest - January 31

"When an Argentine political figure cautions you about your government deficits and mounting debt, you better listen.

In this case, it is former president — and perhaps future president — Eduardo Duhalde. Duhalde, who made the rounds in South Florida this month to promote his book, Argentina Aflame, and celebrate that his soccer team, Banfield, beat out Newell's Old Boys for the Argentine championship in December, speaks from experience.

"You have to be careful with deficits and spending," he said, referring to the United States' spiraling red ink and foreign debt. "When you keep printing currency, you don't always know what consequences it may bring." "

Damnthematrix's picture
Damnthematrix
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Re: Daily Digest - January 31

<http://www.nytimes.com/2010/01/31/business/energy-environment/31renew.html>
China Leading Global Race to Make Clean Energy

Shiho Fukada for The New York Times

By KEITH BRADSHER
Published: January 30, 2010

TIANJIN, China — China vaulted past competitors in Denmark, Germany, Spain and the United States last year to become the world’s largest maker of wind turbines and is poised to expand even further this year.

China has also leapfrogged the West in the last two years to emerge as the world’s largest manufacturer of solar panels. And the country is pushing equally hard to build nuclear reactors and the most efficient
types of coal power plants.

These efforts to dominate the global manufacture of renewable energy technologies raise the prospect that the West may someday trade its dependence on oil from the Mideast for a reliance on solar panels, wind turbines and other gear manufactured in China.

Damnthematrix's picture
Damnthematrix
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Re: Daily Digest - January 31
The Secessionist Campaign for the Republic of Vermont

By Christopher Ketcham / Montpelier

January 31, 2010 "

Time" --  The President on Wednesday may have reassured Americans that the state of the Union is "strong," but, just the week before, a group of Vermont secessionists declared their intention to seek political power in a quest to get their state to quit the Union altogether. On Jan. 15, in the state capital of Montpelier, nine candidates for statewide office gathered in a tiny room at the Capitol Plaza Hotel, to announce they wanted a divorce from the United States of America. "For the first time in over 150 years, secession and political independence from the U.S. will be front and center in a statewide New England political campaign," said Thomas Naylor, 73, one of the leaders of the campaign.

A former Duke University economics professor, Naylor heads up the Second Vermont Republic, which he describes as "left-libertarian, anti-big government, anti-empire, antiwar, with small is beautiful as our guiding philosophy." The group not only advocates the peaceful secession of Vermont but has minted its own silver "token" — valued at $25 — and, as part of a publishing venture with another secessionist group, runs a monthly newspaper called Vermont Commons, with a circulation of 10,000. According to a 2007 poll, they have support from at least 13% of state voters. The campaign slogan, Naylor told me, is "Imagine Free Vermont."

Woodman's picture
Woodman
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Posts: 1028
Re: Daily Digest - January 31

You can listen to an interesting lecture by Harvard professor Jeffrey Frieden on the american economy, world trade, Bretton Woods etc., at the link below.  Just heard it on WBUR, I need to listen to again before commenting...

http://www.buworldofideas.org/shows/2010/01/the-short-american-century-1941-2008-contrasting-views-of-the-era-of-american-dominance/

Tom

 

 

 

 

 

 

 

 

 

Tom

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