What needs to happen for economy to recover? Pay down debt and build up savings substantially over time.
Yale University Senior Fellow Stephen Roach discusses the Federal Reserve’s attempts to boost the U.S. economy through monetary policy and what steps can be taken to rebuild economic growth. Here is a direct video link.
As business media spends the day hyping up the magic expected from today’s 2pm announcement from Fed ‘oracle’ Janet Yellen, investors would be wise to keep some math and reality about us. The finance machine continues to gorge on taxpayer purchased donuts and leave the public holding the holes. This segment with Better Markets President Dennis Kelleher does an excellent job of refocusing attention on to salient issues, see my previous post: Better Markets President on finance parasites.
Idled in 2013, and formerly the largest Co2 emitting plant in Canada, Ontario is converting the Nanticoke coal plant to a 44 MW solar installation. Now we are using our heads. See, Ontario to convert largest coal plant:
“…the grounds of the idle Nanticoke Generating Station—once North America’s largest coal plant—will soon be lined with solar panels.
Ceasing energy production in 2013 as part of Ontario’s phase-out of coal energy, the enormous plant, which could produce almost 4,000 megawatts of power at full capacity, was officially shuttered for safety reasons last year. But the strip of land on the north shore of Lake Erie will soon begin churning out power once again—only this time, the electricity will be emissions-free.
As part of the Independent Electricity System Operator’s 455 MW power procurement announcement earlier this week, the Nanticoke, Ont. site will be repurposed to house a 44 MW solar farm.
Sarnia is another southern Ontario location taking advantage of developments in solar technology. Enbridge operates a 80 MW photovoltaic plant outside the city.
Cory’s Chart Corner
