Filed under: Forecasts, Financial Crisis, Currency
The beleaguered U.S. dollar, which has weakened about 50% versus the euro and about 11% versus the British pound since 2002, is down but hardly out.
The dollar has rallied in the past two months versus the euro (up 8%) and pound (up about 4%), on renewed concern about sovereign debt in Europe. This time, the concern is about Portugal’s debt, and the impact continued credit market woes would have on both euro-zone and United Kingdom GDP growth.
On Tuesday, Portugal’s Prime Minister Jose Socrates said his country will not need a bail-out, and its budget deficit will be lower than forecast, Bloomberg News reported. He said rumors that the country needs aid are helping “speculators” while hurting Portugal and driving down the euro.
Continue reading Europe Debt Concerns Continue to Weigh on Euro, Support Dollar
Europe Debt Concerns Continue to Weigh on Euro, Support Dollar originally appeared on BloggingStocks on Tue, 11 Jan 2011 15:30:00 EST. Please see our terms for use of feeds.
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Nanosolar Inc., a solar start-up from San Jose, California, received contracts from three of Europe’s experienced renewable energy project developers to supply up to a gigawatt of copper indium gallium selenide-based thin-film solar panels.The company will supply Germany’s Belectric Trading GmbH and Plain Energy GmbH, and Paris-based utility EDF Energies Nouvelles SA with utility-grade thin-film solar panels over the next three to six years, according to a statement from Nanosolar.
Instead of helping human health by reducing global warming, United States and European policies promoting the growth of the biofuels industry as replacement to fossil fuels may actually cause higher global mortality rates in third world countries, a recent independent study showed. In his study titled, “Could Biofuel Policies Increase Death and Disease in Developing Countries?
Government organizations in Europe, the United States, and Japan agreed to adopt a common standard for measuring the overall efficiency of their data centers. The power usage effectiveness or P.U.E. standard is a measurement made popular by The Green Grid, a global consortium that develops energy-efficient data systems. It is a ratio showing how much energy a data center uses for actual computing compared with how much is wasted on non-productive tasks like cooling machines or eliminating heat 
Africa receives .5 million grant with a potential boost to Africa’s renewable energy exports
Europe added more solar energy instead of wind energy last year for the first time, with more solar photovoltaics were installed as the number of onshore wind projects numbers faltered. From 7.3 gigawatts in 2009, about 13 GW of new PV capacity was added across the region last year – more than 70 percent of which coming from small and mid-sized solar systems – due to increased demand from residential customers, data from the European Photovoltaic Industry Association showed.
Marc Faber, who writes the Gloom Boom & Doom Report newsletter, has a flare for the dramatic. He once recommended framing a 0 U.S. bond to teach our children a lesson about the perils of inflation. But he has made some good calls over the years, such as to dump stocks a week before the October 1987 crash. He even shorted stocks in 1999 (it was a bit early) and went bearish before the crash of 2008.
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