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Tag: stimulus

(Associated Press / Globe Newswire)

Solyndra II: Energy Company Busts on Eve of Climate Summit

As President Barack Obama departed for the climate summit in Paris, he faces a new “Solyndra” scandal as Spain’s Abengoa SA, which received $3 billion in administration sustainable energy loans and Export-Import Bank guarantees, announced that it has started bankruptcy proceeding and may soon default on its debt.

California snow (Rich Pedroncelli / Associated Press)

El Niño Rain, Snow Lost to Lack of Infrastructure

Despite El Niño generating three times the amount of snow in Mammoth in the first half of this month as it did for the entire month of November last year, California’s failure to build infrastructure means most rain will be lost to run-off and flooding.

Barack Obama

Another Obama-Funded Energy Firm Makes Its Final Emission

Michigan’s Alpena Biorefinery announced that it is taking a “sabbatical,” after drinking $22 million of taxpayers’ stimulus cash and after consuming unknown amounts of additional and indirect taxpayer funding—all just to show it could convert wood chips into pure alcohol.

REUTERS/Aly Song

China’s Stock Market Crisis Continues

Investors hope the U.S. and European markets are stabilizing after Monday morning’s free fall, but China’s stock market dropped again on Tuesday. It looks as if the parachutes are finally popping, as the AP reports the Shanghai Composite rallied from a 6.4% drop on Tuesday morning to a 4.3% loss by midday. This follows an 8.5% plunge on Monday, the worst performance in eight years.

REUTERS/PETAR KUJUNDZIC

China’s Unmassaged Growth Rate Plummets to 1.7%

Diana Choyleva of Lombard Street Research, who produces an “unmassaged” calculation of China’s true economic growth, just reported that China’s fourth quarter GDP growth plummeted to 1.7 percent, versus the official 7.4 percent rate.