China invested $30 Billion in credits for solar manufacturers in China. That is nearly 60 times the mere $535 Million invested in Solyndra. And it comes as no surprise that imports from China for solar technology is at a record level at $1.4 Billion in the first 7 months of this years, compared to $1.2 Billion in all of last year. With that kind of government investment in startup businesses, it is no wonder that China is seemingly beating the United States at every turn, and especially in the new green technologies. The United States has been cutting costs on infrastructure and research and development while China has been making massive investments. While Solyndra may have had other problems with their business model, I wonder if they...
As so many eyes have been on Greece, there are a couple of other default risks that people may have overlooked. On Monday, S&P downgraded Belarus, and expressed concern they may not be able to make their payments. Already in May of this year (60% currency devaluation), Belarus experienced record inflation. They have been able to get some loans from China and some ex-Soviet states. It seems that Ukraine may be having trouble paying their debts, and a default may be eminent. A big warning sign is their treasury has stopped the flow of funds to the local level just so they can make their debt payment. And for Greece having increased their debt by $63 billion in just 3 months, it seems apparent they are moving backwards,...
Here is a trader talking rather candidly about how the markets will crash and how Goldman Sachs (and others) rule the World. Previously, we talked about the deep involvement of Goldman Sachs in the Greek debt. And as Greek defaults (most now agree they will) I have feeling we will be hearing once again about Credit Default Swaps, and Goldman betting against their own investors through hedging. While I will not pretend to be a professional investor, my advice right now would be something like this... Because we are in an unregulated boom and bust cycle, reminiscent of the times before the Great Depression, there are going to be a number of shocks to the system, and we will see a continuance of large swings in the...
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Discussing some of the common right wing arguments from "government gets in the way", "trickle down economics", "social security is a ponzi scheme", "reducing government creates jobs", and much more. ...
The below graph speaks for itself. As taxes decrease, federal debt increases. Some of the most stable times in our economy were when taxes were higher. What this chart misses is consumer debt which has also risen. So with taxes so low, both federal debt and consumer debt are at dangerously record levels. ...
Nearly every recession in modern history was ended when housing starts began to pickup again, especially deeper recessions. While we are not officially in recession by those who keep track, certainly growth is at best stumbling forward. It is going to take another couple of years to get out of this recession, but in the end, housing will cost less for the middle class, and they will hopefully have some money left to increase demand and employment. As you can see in this chart from Calculated Risk, housing starts and unemployment move with each other. We are going to have to get through this inventory which is decreasing. And of course population is increasing. One might hope that housing starts can begin to rise in...
1 Billion in Bush tax cuts for the wealthy, 2 trillion in wars, 1 trillion in a medicare give away to drug companies You build a factory and you receive the benefit of the roads everyone else is paying for to transport the goods their, the benefit of the police and fire departments, the benefit of the schools that educated the workers, the benefit of the national defense so you don't have invading marauders, etc. Have a listen... ...
If we can hire contractors to rebuild Iraq, why can't we do that in the United States? Also, the largest employer in the World is the United States Department of Defense with about 3.2 million (plus contractors!). What would be wrong with going into the murder capitol of the United States, and defending American lives? And if we need the "foreign invader" angle, then let's go find all the heroin and cocaine dealers in Oakland, CA and Newark, NJ and put them out of business, because those drugs are provided by "foreign invaders". While we are at it, we can search the mountains of California for marijuana growers employed by the Mexican cartels. We have enough troops to make American MUCH safer here at home for...