Saturday, September 10, 2011

Is Solar Power Too Risky a Bet for the Federal Government? - The Bay Citizen

Why does the government keeping trying to pick winners and always seem to waste my tax dollars on losers ? Seems they subsidize projects that would not make economic sense and be funded by investors using their own money.

Is Solar Power Too Risky a Bet for the Federal Government? - The Bay Citizen

Friday, September 02, 2011

PRECIOUS METALS: Gold Jumps Near Record On US Jobs Report - WSJ.com

The U.S. economy didn't add jobs for the first time in almost a year in August, according to a closely watched report from the Labor Department, the latest sign that growth in the world's largest economy is stumbling. Nonfarm payrolls were unchanged last month, as a decline in government sector employment cancelled out a modest gain in private-sector jobs. Economists had expected an increase of 80,000 jobs on the month.

Wednesday, August 31, 2011

Obama Spent $535 Million on Solyndra Solar Energy Firm in 2010; Firm Went Bankrupt Today; Pricetag $486,363 Per Job Saved for 18 Months

I AGREE: "if companies cannot survive without government subsidies then they should not survive at all."

Obama Spent $535 Million on Solyndra Solar Energy Firm in 2010; Firm Went Bankrupt Today; Pricetag $486,363 Per Job Saved for 18 Months:

The federal government should get out of the business of picking technology and "green" winners. Government backing of alternate energy companies has been nothing short of disastrous.

A solar energy firm touted by the administration in 2010 as a as a "gleaming example of green technology" today announced bankruptcy. 11,000+ employees will be fired.

Please consider Solyndra Filing a Disaster for Obama
President Obama faces political catastrophe in the form of Solyndra -- a San Francisco Bay area solar company that he touted as a gleaming example of green technology. It has announced it will declare Chapter 11 bankruptcy. More than 1,100 people will lose their jobs.

During a visit to the Fremont facility in spring of 2010, the President said the factory "is just a testament to American ingenuity and dynamism and the fact that we continue to have the best universities in the world, the best technology in the world, and most importantly the best workers in the world. "

It's not his statements the administration will regret; it's the loan guarantees. The President was celebrating $535 million in federal promises from the Department of Energy to the solar startup. The administration didn't do its due diligence, says the Government Accountability Office. "There's a consequence if you don't follow a rigorous process that's transparent," Franklin Rusco of GAO told the website iWatch News.
Seen and Unseen

The "seen" math is simple enough. $535 million divided by 11,000 is roughly $486,363 per job saved, now job lost.

That is just the "seen" consequence. The "unseen" consequences are not directly calculable but by giving Solyndra money, other companies that the free market would have preferred have been harmed, perhaps permanently harmed.

Although Obama clearly rushed this pathetic company for a nice photo-op, this is not a simple case of the president failing to do his homework as the GAO implies. The government has no business promoting this kind of crap in the first place.

In this case, it is rather amazing how fast Solyndra wasted over half a billion US taxpayer dollars, so fast I suspect fraud.

In general, if companies cannot survive without government subsidies then they should not survive at all.

Solyndra could not survive even with massive government subsidies. The same happened to many ethanol companies as well. Speaking of which, taxpayers pay though the nose for ethanol subsidies and tariffs both at the pump and in the price of corn, in turn, the price of beef as well.

Mike "Mish" Shedlock

http://globaleconomicanalysis.blogspot.com

Click Here To Scroll Thru My Recent Post List
Mike "Mish" Shedlock is a registered investment advisor representative for SitkaPacific Capital Management. Sitka Pacific is an asset management firm whose goal is strong performance and low volatility, regardless of market direction.
Visit http://www.sitkapacific.com/account_management.html to learn more about wealth management and capital preservation strategies of Sitka Pacific.

Monday, August 22, 2011

Do You Suffer From Decision Fatigue?

Decision fatigue helps explain why ordinarily sensible people get angry at colleagues and families, splurge on clothes, buy junk food at the supermarket and can’t resist the dealer’s offer to rustproof their new car. No matter how rational and high-minded you try to be, you can’t make decision after decision without paying a biological price. It’s different from ordinary physical fatigue — you’re not consciously aware of being tired — but you’re low on mental energy. The more choices you make throughout the day, the harder each one becomes for your brain, and eventually it looks for shortcuts, usually in either of two very different ways. One shortcut is to become reckless: to act impulsively instead of expending the energy to first think through the consequences. (Sure, tweet that photo! What could go wrong?) The other shortcut is the ultimate energy saver: do nothing. Instead of agonizing over decisions, avoid any choice. Ducking a decision often creates bigger problems in the long run, but for the moment, it eases the mental strain.

Saturday, August 20, 2011

25th Anniversary American Silver Eagle Set

The special limited edition 5-coin product from the United States Mint will be released this fall.

Unique $3 brings $1.3 million | Numismatic News

A unique 1855-S $3 coin brought $1,322,500 – along with applause – as the top lot in Heritage Auctions’ Aug. 11-12 sale held at the Marriott-Chicago O’Hare prior to the American Numismatic Association World’s Fair of Money.

NGC Debuts Online Coin Research Tool

The new NGC Coin Explorer lists more than 30,000 United States issues, including Colonials, patterns and territorials on more than 9,300 web pages.

NGC Debuts Online Coin Research Tool

Tuesday, August 09, 2011

Rushing to cash in gold - Chicago Sun-Times

Never sell your gold to one of those traveling hotel buyers, you will probably get 50% of the melt value or less.

Rushing to cash in gold - Chicago Sun-Times

Wednesday, July 27, 2011

Saturday, July 16, 2011

Americans Continue to Keep a Close Hold on Spending

What Economic Recovery ?
Consumer spending has been almost flat for three years, and well below 2008 levels.

Americans Continue to Keep a Close Hold on Spending

Tuesday, July 12, 2011

New series of Canadian and U.S. silver coins coming to market

The United States Mint has taken the demand for more mass production silver bullion coins seriously of late expanding its offering to a planned total of 57 new coins by 2021 with the introduction of the America the Beautiful Bullion Coin Series.

Canada's Royal Canadian Mint has followed suit expanding its offering of mass production silver bullion coins to 8 by 2013 with the launch of its Canadian Wildlife Silver Bullion Coin Series Program. Below are the details.

Mineweb.com - The world's premier mining and mining investment website New series of Canadian and U.S. silver coins coming to marketgo - SILVER NEWS | Mineweb

Tuesday, June 28, 2011

$1 Billion That Nobody Wants : NPR

Unused one-dollar coins have been quietly piling up in Federal Reserve vaults in breathtaking numbers, thanks to a government program that has required their production since 2007.

And even though the neglected mountain of money recently grew past the one billion mark, the U.S. Mint will keep making more and more of the coins under a Congressional mandate.

FULL ARTICLE: $1 Billion That Nobody Wants : NPR

Thursday, June 16, 2011

US Real Estate: Foreclosure Effects Are Everywhere

Every time we get the monthly foreclosure numbers from RealtyTrac, I hear someone on TV say, 'Well, the problem is really only concentrated in a handful of states." Yes, the volumes are, the problems are not.

US Real Estate: Foreclosure Effects Are Everywhere — CNBC Realty Check - CNBC

2-Year Greek Bond Yield Hits 28.15%

If a country goes bankrupt, can another country buy it ? and who would want to ??

Mish's Global Economic Trend Analysis: 2-Year Greek Bond Yield Hits 28.15%

Tuesday, June 14, 2011

The Southern California housing spring that never was.

Median price for a Southern California home falls by 8 percent year-over-year. Sales collapse by 17 percent pointing to future problems.

The Southern California housing spring that never was at Dr. Housing Bubble Blog

Friday, June 10, 2011

Home price plunge coming - Shiller - Jun. 9, 2011

NEW YORK (CNNMoney) -- In an off-hand remark before cameras and microphones, economist and housing market guru Robert Shiller opined earlier this year that he would not be shocked if there was another 10% to 25% in the nation's home price plunge -- and he's not backing down from that statement.

Home price plunge coming - Shiller - Jun. 9, 2011

Readers Poll: The Best Neil Young Songs:

Readers Poll: The Best Neil Young Songs

Thursday, June 09, 2011

For Many, It's Still A Good Time To Buy A Home : NPR

Time to Rent or Buy? Depends Where You Live
This chart shows the percentage difference between the average monthly rent and mortgage payment for a median-priced, single-family home in communities across America. For example, in San Jose, Calif., the monthly mortgage payment averages $2,600, while rent is about $1,000 less. That's about 60 percent cheaper. But in Cleveland, it's the opposite. The average rent is about $750 per month, while the cost of buying is $420, or about 44 percent less.

For Many, It's Still A Good Time To Buy A Home : NPR

A doodle for an instrumental inventor

A doodle for an instrumental inventor: "The electric guitar brings back memories for me of exchanging riffs with friends and wearing out cassette tapes as I meticulously learned songs. Today, we’re attempting to recreate that experience with a doodle celebrating the birthday of musician and inventor Les Paul.



For the next 24 hours on the Google homepage, you’ll find an interactive, playable logo inspired by the guitar developed by the Rock and Roll Hall of Fame inductee that made the sound of rock and roll possible.



As well as his guitar work, Les Paul experimented in his garage with innovative recording techniques like multitracking and tape delay. In keeping with this spirit of tinkering, those of you in the U.S. can click the black “compose” button to record your own 30-second track. Just strum the strings or trigger notes with the letters or numbers on your keyboards. Clicking the button again will display a link to share the songs you’ve made. (For example, here’s a little tune I put together.)



If you’re curious, the doodle was made with a combination of JavaScript, HTML5 Canvas (used in modern browsers to draw the guitar strings), CSS, Flash (for sound) and tools like the Google Font API, goo.gl and App Engine.



I hope you have as much fun playing with and sharing the doodle as we did making it (special thanks to engineers Kristopher Hom and Joey Hurst and doodle team lead Ryan Germick for their work). Crank up your computer volume and make some music!



Posted by Alexander Chen, Designer (and musician), Creative Lab


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