Debt Rattle Jan 27 2014: When Bubbles Bite
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Gordon Parks “Mr and Mrs Joseph Lopez, Gloucester, Mass. 2 boys in the armed forces” June 1943 I guess I may be getting myself in a bit of a jam here,
[See the full post at: Debt Rattle Jan 27 2014: When Bubbles Bite]Great article, Ilargi! Karl Denninger had this to say on China in “China’s Bailout: Who Funded It?” re the $500 million trust product about to default:
“Who’s funding the bailout?
Get away from the markets folks. This is how it started in 2000 — and 2008 — as well.
Little things that were, on a dollars basis, not all that important. It was not the amount of money that mattered, it was the lack of transparency and the fact that everything was being hidden to avoid anyone having to answer for what they had done.”
Just registret. I have read your site for years and bought your DVD’s, though. Fantastic stuff! Thanks a lot. Here in Denmark there isn’t much debate about the big three: Finance, AGW and Peak Oil, OR the importance of trust in a society, OR fracking … or anything of imprtance, really (except in a small newspaper on the left), so TAE fills a lot of holes over here.
There is ONE question, though, our national energy supply, which is now vigerously debated. Our state-owned energy-company, DONG, is about to sell 19 % of it’s shares to Goldman Sachs AND give them VETO over all impotant decisions, a fantastic deal for GS! Why; we ask ourselves over here, why sell out, why to GS, and why don’t the government take out a cheap loan and put the money in DONG, so our gas and oil remain in our hands? AND the more that are found out, the deal looks dodgy’er and dudgy’er … Danish troubled banks are involved, tax-havens are involved, there’s much hush-hush, and we are told again and again: GS is the only serious option. After the sale, DONG-shares will be sold on the exchange, making the board of directors a total of one billion kr. richer.
We haven’t got anything like your analysis’ over here, so please, when you (hopefully) sometime again write about energy in Europe, could you please, pleaaaase, comment on this sell-out, or maybe just about sell-outs LIKE this?
PS: Our neo-liberal government isn’t actually that, it’s a coalition between a social democratic party, Socialdemokraterne, a left wing party, Socialistisk Folkeparti and a conservate/liberal party, De Radikale. They all do the exact opposite of what they promised before the election. They did a Obama, and MANY are furious. It looks like perhaps this could be a turning point in our debate. Our Finance-minister is so unpopular, that few dares support him even at the far right, and we DO have far right in this country.
Thanks, Arne.Just a reminder about Iceland. Tough people there have clung to the rocks for many centuries. They are self sufficient in meat, dairy, fish and sea birds. You can grow potatoes there, but not much else. They used to eat a lot of seaweed. Every piece of produce eaten there is imported. Fortunately they now have some skill in working with geothermal, because early settlers completely deforested the island five centuries ago. I don’t know what climate change is going to do for them, but the soil they have won’t grow much.
Morgan’s research suggests that going from EROEIs of 80:1 to 20:1 isn’t disruptive. But once the ratio gets below 15:1, energy becomes a lot more expensive. He suggests the ratio will decline to 11:1 by 2020 and the cost of energy will increase by 50% as a consequence. What was the price of oil in 2005 and what is it now? Isn’t that a 50% increase. To say that it is only going to go up 50% ….well that sounds optimistic to me as we know that the shale plays will be about dead by then.
“From ‘Glut’ To Panic: Natural Gas Soars”
God, I wish those fools hadn’t shut down TOD. I’d be able to hear the laughter coming all the way out from my router.
Black holes still exist in all important ways, and there is still a huge one in the center of our galaxy. Physics it just trying to work out the details of the even horizon.
Yes, Virginia, Black Holes Exist! Do black holes exist? The world’s most famous scientist vs. the actual science.
If it quacks like a black hole
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