Mercury Rising 鳯女

Politics, life, and other things that matter

Archive for February 21st, 2013

Look out below, Asia edition

Posted by Charles II on February 21, 2013

Don’t know what this means. CNBC:

A massive sell-off in Asian stock markets on Thursday erased the previous day’s strong gains after Wall Street fell on minutes from the Federal Reserve’s latest meeting, which sparked concern about the central bank’s bond-buying program.

The drop in commodities like silver’s SLV (down to 27 from its high of 34 last September) and copper’s CU (at 28 and change from its high of 46 in mid-2011) suggests that there’s real economic weakness. On the other hand, the real drop is in Shanghai (3%) while Korea is just 0.5%. US futures are down marginally. So I sort of suspect this is more of a China story at the moment.

Just to add (2/21): my guess is that this will be a 14-20% correction, which would be around 1200-1290 on the SPY and it will be driven primarily by congressional stupidity, Fed paralysis, and Chinese opacity. Possibly the Europeans have exhausted their supply of stupidity, although if they don’t do something to reduce the likelihood of revolution in Greece, they haven’t.


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FOX News Lies About Solar Power. Sun Rises In East. Water Is Wet.

Posted by Phoenix Woman on February 21, 2013

NREL data - photovoltaic solar resources - US and Germany

Wow, FOX is really working to earn atta-boys from the dirty-energy folks:

From the network that brought you WMD in Iraq, we learn that sure, solar power works in wacky places like Germany, but it would never work in the US because the Germans, bronze gods that they are, get far more sunlight than gloomy, cold, rainy America.  (Spoiler alert: It’s a lie.)


How could anyone think that Germany has more sun than the US, where we have sunny states such as Florida, Arizona? (And don’t rely on my anecdotes, check out the map below.) The Fox News guest really misses the mark in a way that only can be experienced on Fox News:

Joshi’s jaw-dropping response: “They’re a smaller country, and they’ve got lots of sun. Right? They’ve got a lot more sun than we do.” In case that wasn’t clear enough for some viewers, Joshi went on: “The problem is it’s a cloudy day and it’s raining, you’re not gonna have it.” Sure, California might get sun now and then, Joshi conceded, “but here on the East Coast, it’s just not going to work.”

And for those wondering about the real world differences for sun in the US compared to Germany, Media Matters has a helpful map to clear up any confusion.

I’ve taken the liberty of reproducing the map and putting it at the top of this post. The yellows and reds are the strongest for solar power, the purples and blues the weakest, and the greens are in the middle. Guess what? Germany’s nearly all blues and purples, while aside from Alaska the US is nearly all greens, yellows and reds. Yet the Germans have no problems ramping up their solar power commitment.

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