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...from renewable sources (excluding hydropower); this target jumps to 8% in 2020. That may not sound like much, but according to a recent study by the China Greentech Initiative, a coalition of Chinese and foreign businesses, NGOs and government organizations, environmental technologies including renewable energy could become a $1 trillion market in China by 2013. In a recent commentary, Pulitzer Prize - winning journalist and author Thomas Friedman wrote that China's decision to go green "is the 21st-century equivalent of the Soviet Union's 1957 launch of Sputnik...
...political back-and-forth on the stimulus bill is the ultimate in bunk, though, because it ignores most of the fiscal stimulus provided by Washington so far. Anytime the Federal Government spends more than it takes in, it creates fiscal stimulus. That stimulus (deficit) was $1.4 trillion for the just-ended fiscal year, up about $1 trillion from the year before. The stimulus bill accounted for just $200 billion of that increase, according to the Congressional Budget Office. Bailing out banks and other financial firms cost $245 billion. A $419 billion drop in tax receipts (due mainly to recession...
...These tensions may balloon in the future as other regional powers expand their interests in Baluchistan as well. The presence of some 19 trillion cubic feet of natural gas in the province has raised the prospect of significant outside investment, but it has only deepened Baluch anxieties of alienation. China has already set about securing access to Baluchistan's other rich veins of resources: it owns a controlling interest in the massive gold and copper mine at Saindak and has steered the building of a $1 billion blue water port at Gwadar, mostly using Chinese labor. The growing...
Funny he should mention that word. There is currently $3.5 trillion in outstanding commercial real estate debt, with much of it related to properties purchased at exorbitant prices during the real estate boom that ended in 2007. Many private equity players and hedge funds used heavy leverage - borrowing up to 80% of the purchase price - to acquire the properties and are now struggling to generate the cash flow needed to service the debt and meet debt calls. Bach estimates that about $500 billion in commercial real estate debt will come due each year for the next few years...
...Human Space Flights Plan Committee said the Constellation program's goals were underfunded. The committee, headed by Norman Augustine, retired chairman and CEO of Lockheed Martin Corp., concluded that NASA needs another $3 billion a year to pursue meaningful human space exploration beyond low Earth orbit. Facing a $1.4 trillion federal deficit, even NASA's most ardent supporters in Congress, who represent some of the 60,000 jobs associated with the agency, acknowledge that additional funding will be hard to come...