Looming Catastrophe: Power Grid Collapse Now In Sight in New York

By John Droz Jr. – Re-Blogged From http://www.WattsUpWithThat.com

Indian Point Nuclear Power Station in New York. It sits on the east bank of the Hudson River, about 36 miles north of Midtown Manhattan, plans to shut down both of its operating reactors by April 2021.

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The Crisis Next Time

By Nicole Gelinas – Re-Blogged From City Journal

Ten years after a financial meltdown, America hasn’t grappled with the root problems.

Interest rates on the United States’ ten-year Treasury bond recently hit 3 percent, which should be regarded as historically low. Instead, a decade after the financial crisis began, it’s remarkable for being that high, and economic and financial experts can’t agree on whether this new rate portends a brewing economic miracle or a looming economic crisis. What it really reflects is a conundrum: the economy is doing well, but in large part because Americans have borrowed too much, too fast, and at too-low rates—and a real risk exists that normal interest rates will kill this debt-fueled boom. In the decade after the 2008 debt-based meltdown, the U.S. still hasn’t kicked its addiction to borrowing.

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Chinese Bombers Make Debut Landing on Disputed South China Sea Runway

By AFP – Re-Blogged From Newsmax

China has for the first time landed several bombers on an island in the disputed South China Sea, a move that could provoke renewed tensions between countries bordering the strategically vital maritime region.

Several bombers of various types — including the long-range, nuclear strike capable H-6K — carried out landing and take off drills at an unidentified island airfield after carrying out simulated strike training on targets at sea, the Chinese airforce said in a statement Friday.

Russia Deploys Exotic New Weapon: A “Budget Surplus”

By John Rubino – Re-Blogged From Dollar Collapse

The price of oil is rising, which is obviously good news for those who sell it to the rest of us. Russia in particular seems to be enjoying the current trend, so much so that — if I’m understanding this correctly – Moscow is now receiving more in taxes than it’s spending. This is producing something called a “budget surplus,” which is a kind of currency war weapon that can be deployed to improve a country’s geopolitical position. Here’s a quick overview:

Russia To See Oil Revenues Jump Fivefold

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‘Major, Major Game-Changer’: Ebola Spreads to Big Congo City

By Associated Press – Re-Blogged From Newsmax Health

Congo’s Ebola outbreak has spread to a crossroads city of more than 1 million people in a troubling turn that marks the first time the vast, impoverished country has encountered the lethal virus in an urban area.

“This is a major, major game-changer in the outbreak,” Dr. Peter Salama, the World Health Organization’s deputy director-general of emergency preparedness and response, warned on Thursday.

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Climate Lessons from King Canute

By Viv Forbes, Washpool   Qld Australia

Re-Blogged From http://www.WattsUpWithThat.com

Climate Aristocrats and Bureaucrats from 190 nations are meeting in Bonn, dreaming up rules to “prevent the globe from warming more than 2°C”.

They have forgotten the lesson of mighty King Canute – he demonstrated that not even his great power could control nature by rolling back the tide.

Credit for this Image of Canute: Wikipedia

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New Loan Sharks Entering The Credit Card Business

By John Rubino – Re-Blogged From Dollar Collapse

A while back, a writer (whose name and story details I unfortunately don’t remember) was researching the credit card business and tried to figure out how card issuers decide which customers to pursue. To this end he created a series of fake personas ranging from an affluent straight-arrow who always pays her bills on time to a white-trashy guy with impulse control issues and a history of multiple defaults and late payments.

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