Archive for March 25th, 2008


Auction rate securities still frozen

Most brokerages are refusing to buy them back which means the investors can’t get any money out of what was sold to them as a cash equivalent. Ouch.

Who buys auction-rate securities? It’s not just “the rich.”‘ I’ve heard from self-employed people who thought it was a good, temporary place for their life savings, at least until they decided what else to invest in. I’ve heard from people who sold businesses and put the money there, and from people who inherited some money and did the same.

Morgan Stanley just got sued over auction rate securities. It’s a given there will be many more such lawsuits. As well there should be.

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The litany of resistance

With governments that kill…
…we will not comply.
With the theology of empire…
…we will not comply.
With the business of militarism…
…we will not comply.
With the hoarding of riches
…we will not comply.

This Litany of Resistance was chanted by several thousand “mostly white, Republican, Southern, born-again Christians” at a conference in Georgia last year. Yes, you read that right.

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And his sacrifice was…?

Arlington National Cemetery

Bush: War’s outcome ‘will merit the sacrifice’

4,000 US troops are dead. That number doesn’t include US civilians in Iraq, members of private military corporations, or Iraqis who have been killed or the probable millions on all sides who have been maimed, injured, and disabled.

The Bush Family has sacrificed nothing. Too many others have sacrificed way too much.

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Northeast NIMBYs

electricial tower
The state of New York wants to shut down a nuclear plant. They and Connecticut currently oppose an offshore LNG platform in Long Island Sound. Electricity and heating costs in the northeast US are already extremely expensive. Development of alternative power is puny. Yet any attempt to get more power, whether it be nukes, LNG platforms, or wind turbines off Martha’s Vineyard is met with NIMBYs.

To all you rugged, individualist New Englanders - you might wish to consider that freezing in the dark will be a much worse fate than having the Kennedys suffer the admittedly gross indignity of having to look at wind turbines in the ocean from their Chappaquidick estate. Oh, the agony. As for that aging electrical connection point in the southwest of Connecticut where major grids meet, the one that is aging, can’t take the load, and is already causing blackouts. Golly, let’s not actually do anything to fix it. After all, someone might have to look a new power transmission line then. How frightfully inconvenient.

And when the brownouts stretch into blackouts, when average citizens who once could rely on reasonably priced and readily available electricity from the grid are subject to wild price fluctuations as their electricity providers go begging on the spot market, when the Northeast becomes an energy colony of Canada - then maybe, just maybe, these fools in the political establishment will wake up.

Utah is going full-bore on wind energy. California gets it too. Texas built themselves a self-contained grid for electricity and petroleum years ago. They don’t need energy from any other state. But the Northeast stands alone in their obstinate refusal to do anything substantive about their ever-growing heating, petroleum, and electricity problems.

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Biodiesel VW New Beetle

Biodiesel VW New beetle

Biodiesel VW New beetle detail

GetBiodezl.com is the site for Greenleaf Biofuels of Guilford CT who manufacture biofuel and bioheat from vegetable sources.

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TSA’s 20 layers of security

Yes, TSA has 20 layers of security at airports. While not all are triggered for all passengers, you’ve already been checked out several ways before you arrive.

Their blog tell you all about it.

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