Subprime Is Back With A Vengeance (thc0655)
Sales of subprime mortgage bonds have withered since the financial crisis, but fresh concerns are arising as issuance of some other types of securitisations surges. Sales of bonds backed by loans used to finance car purchases undertaken by the least creditworthy borrowers have reached pre-crisis levels in the US, prompting a Department of Justice investigation. While losses on subprime auto asset-backed securities (ABS) remained low during the crisis, there are concerns that new specialised lending companies are making riskier loans which are then being bundled into the bonds.
House votes to arm Syrian rebels (jdargis)
A Reuters/Ipsos poll showed that while Americans support Obama’s campaign of air strikes against Islamic State militants, they largely oppose a long military campaign against the group.
The authorization backed by the House lasts only until Dec. 11, the day the spending bill expires. The bill allows the Pentagon to later submit requests to shift funds within the budget if it decides it needs funds to pay for the program.
Writing to other 'zillionaires' who are thriving "beyond the dreams of any plutocrats in history," Hanauer argues that the problem is not reasonable inequality (which may beneficially motivate people to press for success), but ethically inexplicable inequality. Wielding the provocative metaphor that "pitchforks are coming for plutocrats" unless wealth is distributed more broadly, Hanauer urges his "fellow filthy rich" to wake-up and exercise constructive policy leadership before the U.S. becomes a police state to keep social unrest at bay.
Whilst Alex Salmond continues to deluge the airwaves with propaganda surrounding the potential for 'sharing' of the Bank of England, the fact remains that UK politicians of all three major parties unequivocally continue to reject the SNP's cunning plan to effectively permanently park a Trojan Horse outside the Bank of England on Scottish Independence day that would effectively allow Scotland to go on an deficit spending binge on a sterling credit card by printing debt without the consequences of currency panic that normally would result in very high if not hyperinflation, but instead like a cancer seek to consume its English host over a number of years as the policy of sterling sharing sucks the financial life blood out of the British Pound.
Why Money Is Worse Than Debt (Taki T.)
Governments and central banks (which are like economic Siamese twins), not only print fiat money but, on top, make the cost to print more money, issue new debt and serve past debt ridiculously low….In reality, real interest rates (nominal interest rate less real inflation rate), or the cost to issue more fiat money, has even become negative. Propaganda must be extremely solid to keep such a mirage alive and absolute no accident may happen.
Unfortunately, the real world is a bit more complicated — socioeconomics, cycles of poverty, economic disparity, lack of education, racism and sexism; a myriad of factors contribute to an individual’s lot in life. But for some, the dream didn’t die with the close of the book. For some, Galt’s Gulch could be real if only someone would create it.
A fevered search for the next great high-energy, rechargeable battery technology is on. Scientists are now reporting they have overcome key obstacles toward making lithium-sulfur (Li-S) batteries, which have the potential to leave today's lithium-ion technology in the dust. Their study appears in the ACS journal Nano Letters.
An Ohio State University led study has pinpointed the likely source of most natural gas contamination in drinking-water wells associated with hydraulic fracturing as the walls of the gas well and their well casing seal to the ground. It’s not the source many people may have feared and, if the press can get its facts – truth – and integrity act together, the news should enable the natural gas industry, the state regulators and well engineers an opportunity to solve the public’s anti fracking issue with real results for much improved water well protection.
The field of conventional energy conversion using radioisotopes has almost exclusively focused on solid-state materials. Herein, we demonstrate that liquids can be an excellent media for effective energy conversion from radioisotopes. We also show that free radicals in liquid, which are continuously generated by beta radiation, can be utilized for electrical energy generation. Under beta radiation, surface plasmon obtained by the metallic nanoporous structures on TiO2 enhanced the radiolytic conversion via the efficient energy transfer between plasmons and free radicals. This work introduces a new route for the development of next-generation power sources.
"Betavoltaics, a battery technology that generates power from radiation, has been studied as an energy source since the 1950s," said Jae W. Kwon, an associate professor of electrical and computer engineering and nuclear engineering in the College of Engineering at MU. "Controlled nuclear technologies are not inherently dangerous. We already have many commercial uses of nuclear technologies in our lives including fire detectors in bedrooms and emergency exit signs in buildings."
The delay follows heavy lobby by Republicans and industry lobby groups to delay the rule – or withdraw it outright. Fifteen governors had called on Obama and the EPA to withdraw the proposed regulations, which would cut carbon pollution from existing power plants.
Some electricity companies had argued that the rules were extraordinarily complex, clocking in at about 1,600 pages, and they needed extra time to study the full implications.
Gold & Silver
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