The tail wags the dog
Bob Morris @ Feb 27th 2007 15:53 - Category: Unfiled ;
Or maybe the tail has become the dog.
A plunge in China’s stock market sent the Dow down over 400 points yesterday.
Archive for February 27th, 2007
The Clean Coal Myth
Bob Morris @ Feb 27th 2007 00:15 - Category: Unfiled ;
EarthFamilyAlpha details why “clean coal” isn’t and how plans for more coal plants in Texas have been blocked. Good.
Top global warming scientist: No new coal power plants
Bob Morris @ Feb 27th 2007 00:12 - Category: Unfiled ;
Plus, he says, we need to bulldoze any older plants that don’t capture and bury the greenhouse gases they produce.
Flipping flops
Bob Morris @ Feb 27th 2007 00:08 - Category: Credit crisis ;
A street in Murietta CA has 5 flipped houses going down the tubes. Meanwhile the Alfred E. Newman of flipping is losing another house.
The currently imploding real estate market in formerly hot markets isn’t just producing pain for the flippers. Lots of people depend on real estate for their jobs. Builders, banks, electricians, plumbers, appraisers, inspectors, real estate brokers, as well as home supply, furniture, and gardening stores are just a few examples. So, when the foreclosure rate rises, and it is, the collateral damage can be profound.
The dreams, hopes, and plans of many will be cratering along with the bursting bubble. It’s the boom-bust cycle of capitalism; greed, stupidity, and cluelessness mixed in with fraud and predators looking for road kill. Remember, behind the lists of foreclosed homes are people who are getting crushed by debt. And no, they can’t just walk away from it as the recent bankruptcy laws preclude them from doing so.
