ITALEXIT: Italy’s Debt Crisis

By Mark O’Byrne – Re-Blogged From Gold Eagle

ITALEXIT: Italy to crash out of Euro and ‘rock EU to its foundations’
– Italy’s debt crisis will lead to default, exit from the euro, or both claims respected economist Bootle
– Italy has fallen back into recession with its economy shrinking by 0.2% in the last quarter
– “When Italy finally blows up, it will cause both a banking crisis that will shake the European economy and a political crisis that will rock the EU to its foundations”

by Roger Bootle of Capital Economics in the  Daily Telegraph

Last week’s data showing a drop in Italian GDP in Q4 of last year confirmed what many observers had already suspected: Italy is in recession.

Or rather, in another recession, for this follows similar phases in 2008, 2011 and 2012.

Where is this going to end?

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If You Could Design A Perfect World For Gold…

By John Rubino – Re-Blogged From Dollar Collapse

Are you sick of your gold just sitting there when it was supposed to have long since made you rich? Have you been fantasizing about a world in which your gold really does make you rich?

If so you’re in good – or at least numerous – company.

So let’s sketch out such a world.

Start by envisioning an America in which a handful of oligopolies have captured banking, media, healthcare and several other important industries, while a tiny group of super-rich neo-aristocrats control as much wealth as the 200 million least-rich citizens.

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US-China War May Be “Just A Shot Away”

By Mark O’Byrne -Re-Blogged From Gold Eagle

– “World’s most dangerous hotspot” is in the South China Sea
– Currency and trade wars can lead to shooting wars warns Rickards
– Chinese buildup in South China Sea like ‘preparing for World War III’ says US senator (see news)
– U.S.-China shooting war could be, as Mick Jagger put it, “just a shot away…”


Chinese President Xi Jinping speaks after reviewing the Chinese People’s Liberation Army Navy fleet in the South China Sea on April 12. Xi has urged the PLAN to better prepare for combat, according to state media reports. (Li Gang/Xinhua via AP)

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Failure of UK Renewable Energy Policy

Re-Blogged From WUWT

A new report from the Global Warming Policy Foundation finds that consumers are paying far too much for the emissions reductions delivered by renewable energy. The report, linked here, by Dr Capell Aris, is the result of extensive energy system modelling, and reports the costs, greenhouse gas emissions and grid security delivered by the current grid and by a series of counterfactual energy systems. As Dr Aris explains:

“The dash for gas of the 1990s delivered lower carbon dioxide emissions and lower costs. If we had simply continued, we could now be enjoying electricity prices 30-40% lower than today, with similar carbon dioxide emissions, and vastly better grid security. Consumers are grossly overpaying for a very unreliable system.”

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UK’s May Faces No-Confidence Vote After Brexit Plan Crushed

By Associated Press – Re-Blogged From Newsmax

British lawmakers on Tuesday overwhelmingly rejected Prime Minister Theresa May’s divorce deal with the European Union, plunging the Brexit process into chaos and leading to a no-confidence vote in her government.

Moments after the vote, May said it was only right to test whether the government still had lawmakers’ support to carry on. Lawmakers will vote Wednesday in a no-confidence motion from opposition leader Jeremy Corbyn that could trigger a national election.

The House of Commons’ 432-202 vote against May’s plan was widely expected, but it was still devastating for her fragile leadership. It came after more than two years of political upheaval — and was the biggest defeat for a government in the House of Commons in more than a century.

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Wind Farm Turbines Wear Sooner Than Expected, Says Study

By ,- Re-Blogged From The Telegraph

Britain’s wind farms are wearing out far more rapidly than previously thought, making them more expensive as a result, according to an authoritative new study.

The analysis of almost 3,000 onshore wind turbines — the biggest study of its kind —warns that they will continue to generate electricity effectively for just 12 to 15 years.

The wind energy industry and the Government base all their calculations on turbines enjoying a lifespan of 20 to 25 years.

The study estimates that routine wear and tear will more than double the cost of electricity being produced by wind farms in the next decade.

Wind turbines. Who exactly does Mr Barker think he is calling swivel-eyed?

Will the world end if Britain’s landscape isn’t covered in wind farms? Photo: David Noton Photography / Alamy

The Hendy Wind Farm Scandal

By Robert Owens – Re-Blogged From WUWT

(where ‘saving the planet’ from climate change trumps  democracy and the protection of the environment)

A brief summary of the history of this national scandal, involving the brushing aside of local democracy and the blatant flaunting of planning law:

1. In 2014 Hendy Wind Farm Ltd. applied for planning permission to construct a wind farm of 7 giant (110m) turbines at the beautiful site of Llandegley Rhos in mid-Wales, a site that includes a number of ‘scheduled ancient monuments’.

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