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Tadhg Gaelach

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Euro zone business growth worse than expected in March: PMI



LONDON (Reuters) - Businesses across the euro zone performed much worse than expected in March as factory activity contracted at the fastest pace in nearly six years, hurt by a big drop in demand, a survey showed on Friday.

 

Tadhg Gaelach

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Fed rate cut seen nearer as yield curves invert


(Reuters) - The Federal Reserve’s stunning about-face on rate increases along with weak economic data has left a key part of the U.S. Treasury yield curve close to levels at which the U.S. central bank has in the past been prompted to cut rates.

The Fed on Wednesday brought its three-year drive to tighten monetary policy to an abrupt end, abandoning projections for any interest rate hikes this year amid signs of an economic slowdown, and saying it would halt the steady decline of its balance sheet in September.

 

valamhic

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I agree that going full blast on wind right now and years previous is a silly and not a cost effective measure (not to mention a blight on the landscape). But with Moore's law and like everything else previously I would have to say - eventually it will become cost effective with improved power and greater battery storage, the tech for solar will cross the line in about 6 years and make it worth it. That doesn't excuse the bad investments currently but I'm no where near anti-renewable energy, it's inevitable that the tech will improve year on year.
Alexandra Ocasio Cortezs Green New Deal was put to a vote in the Senate yesterday. There are 100 seats. 43 Democrats voted "present" which means they abstained. 57 (including 3 Dems) voted against the measure. In other words it was lost 57 to nil. This is an example of my theory. Climate action is climate taxes and climate environmental destruction including wind farms. This is the first time I know of when all this was put to a vote where the politicians had to vote and be held accountable for their vote.
 

valamhic

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Just look at Ireland. There is 10 MW wind farm being built in Kingscourt Co. Cavan. Hundreds of truck loads of concrete, steel and hard core filling are being poured into the ground. The cost is in the region of 22 million Euros. I know the wind conditions and this venture will loose 650,000 Euros every year with a reduction over its life of 15 years to bring losses to 100,000 Euros annually or 12,000,000 over its lifetime. At the end of that period its value is zero and the materials cannot ever be taken out. The total cost of the Republic's wind farms stands at a conservative 6.2 Billion Euros. Electricity costs 14/26 X 100 = 53% higher. The 6.2 billion is a hole in banks loan book and in investors funds. It is entirely dependent of more subsidies. This is also happening in Europe especially Germany and to a lesser extent in Spain. Its very bad in Australia.

Here is the loss with this particular wind farm. 12 million Euros + 22 million to build = 34 million Euros. That does not include the cost to the consumer paying for the remainder.

It essentially boils down an inability to count in Europe and an ability to count in the USA.

The long term victim will be the Pensioner. Their funds are being funneled into this. 92 million is already gone. How can this be happening.

EU MELTDOWN? Anti-EU party's victory in Dutch elections sends SHOCKWAVES to Brussels elite
 
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