Puerto Rico bonds implode, collateral value set to zero

$72 billion in now-toxic Puerto Rico bonds are stashed away in supposedly conservative bond funds and retirement accounts. Moody’s says the probability of default is now 100%. Some of the bonds have no legal protection and their recovery rate might…

‘Godzilla El Niño’ coming to California

We lived in southern California during the last two big El Niños and they are indeed doozies. Torrential storms slam into the state one after another. Roads flood. Houses slide down hills. And reservoirs fill up. The crucial question is,…

We all need to financially support websites we like

No more free rides

Ad revenue that used to support websites is plummeting. Vastly increased competition, sharply lower advertising rates, and ad blockers are the primary reasons. We all need to financially support content creators we like, especially smaller ones. If we don’t, many…

California Sacramento Delta islands are sinking

As if California didn’t already have enough water worries. Water flows down from the Sierras to the Sacramento Delta, and then much of it goes to southern California. The delta is the most crucial water supply in California. Delta islands…

Grid-connected wave energy now a reality

Electricity generated by movement of ocean waves is operational in Australia. The buoys are completely underwater, and their motion forces ocean water to land via high pressure pipes to drive the turbines. Added bonus: The process can also desalinate the…