Utilities give away electricity as wind, solar overload network

Utilities Giving Away Electricity as Wind, Sun Overwhelm European Network – Bloomberg.

That is why New Jersey must invest in renewable sources of energy and not allow off-shore drilling which could contaminate our shores, nor build any more conventional or nuclear power plants.

Imagine PSE&G or JCPL begging you to use more electricity – for free – without any contamination or danger of radiation leaks.

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Feds reach deal with NJ Transit to reduce ARC tunnel debt to $95M

Feds reach deal with NJ Transit to reduce ARC tunnel debt to $95M – NorthJersey.com.

This agreement is good  for New Jersey – in spite of the need for the tunnel – and the credit for the money saved ($179 million) goes to the governor and the two senators for New Jersey, Lautenberg and Menendez.

Buffett: The rich have won the class war – Video

Buffett: The rich have won the class war – Video – Business News.

Buffet: “Overall upbeat assessment on the European crisis and its effects on the U.S. economy.”

Buffet: “Capitalism works.”

Buffet: “Taxing of the rich who do not pay enough taxes is a matter of fairness but will not have much impact on the deficit because of its sheer size.”

On Chris Christie running for president in 2012

Chris Christie seriously considering run for president in 2012 | NJ.com.

There is nobody among the contenders for the White House, from both parties and including Christie, up to the task of getting this nation out of trouble.

In the case of Christie, he has no economic policy per-se (other that cutting taxes for the upper class which is not an economic policy but an ideological stand) and he does not seem to have a grasp of foreign affairs which creates the danger that the neo-conservatives will control foreign policy in his administration, with wars everywhere: Guns instead of butter.

Talk and speeches are insufficient to solve problems. As I believe president Lincoln said once: “You can fool all the people for some time, some people all the time, but you can not fool all people all the time ” or something like that.

I am really hoping that someone else comes up.

Consumer Spending in U.S. Slows as Incomes Fall

Consumer Spending in U.S. Slows as Incomes Fall – Bloomberg.

The drop of the stocks happen from day to day. Tthe unemployment rise has been going on for the last two years. But make no mistake: The decline in real wages has been a long term trend that started during the Reagan administration and exacerbated duiring the 1990’s and the first decade of this century.

And both political parties have been accomplices in carrying out what appear to me policies  which reflect an inexplicable desire to lower the standard of living of the majority people who vote them to office.

U.S. spending cuts will deny college to low-income students

Poor Students at Risk for Supercommittee Cuts – Bloomberg.

Obviously, we in New Jersey must try to alleviate what is coming. But we must also expand the college-alternative which is poly-technic academies which can provide those students not inclined to a college education with the skills needed to enter  the job market and make a decent living.

We must not over-emphasize college education as the goal for every one. The poly-technics should operate in close coordination with industries in New Jersey.

New unemployment claims fall to 391,000 this week

Unemployment benefits claims dip to lowest level since April – Sep. 29, 2011.

The news, together with the approval of an expanded euro-rescue fund by the German parliament, has sent the market up in New York today.

Nobody is however asking whether the expanded rescue fund in Europe is large enough to meet the liquidity demand if Italy or Spain – or both – need help.