Modern Money Blog Number Three – Responses

by L Randall Wray New Economic Perspectives (June 23 2011) Thank you for comments and questions. Let me divide the responses into several different issues. 1. "Sustainability Conditions" for Government Deficits I said: If you want to take a guess at what our "mirror image" in the graph above will look like after economic recovery, … Continue reading Modern Money Blog Number Three – Responses

Japan’s ‘throwaway’ nuclear workers

Reuters (June 24 2011) by Kevin Krolicki and Chisa Fujioka FUKUSHIMA, JAPAN (Reuters) - A decade and a half before it blew apart in a hydrogen blast that punctuated the worst nuclear accident since Chernobyl, the Number Three reactor at the Fukushima nuclear power plant was the scene of an earlier safety crisis. Then, as … Continue reading Japan’s ‘throwaway’ nuclear workers

‘Safety Myth’ Left Japan Ripe for Nuclear Crisis

by Norimitsu Onishi The New York Times (June 24 2011) SHIKA, Japan - Near a nuclear power plant facing the Sea of Japan, a series of exhibitions in a large public relations building here extols the virtues of the energy source with some help from "Alice in Wonderland". "It's terrible, just terrible", the White Rabbit … Continue reading ‘Safety Myth’ Left Japan Ripe for Nuclear Crisis

Dmitry Orlov’s Reinventing Collapse

The Soviet Experience and American Prospects - Revised and Updated New Society Publishers; March 2011, 195 pages, $17.95 Reviewed by Frank Kaminski Mud City Press (June 18 2011) Neither an economist nor a formally trained scholar, Dmitry Orlov is perhaps best described in his own words, as "more of an eyewitness" to the phenomenon on … Continue reading Dmitry Orlov’s Reinventing Collapse

Oceans on brink of catastrophe

Marine life facing mass extinction 'within one human generation' State of seas 'much worse than we thought', says global panel of scientists by Michael McCarthy, Environment Editor Independent.co.uk (June 21 2011) The world's oceans are faced with an unprecedented loss of species comparable to the great mass extinctions of prehistory, a major report suggests today. … Continue reading Oceans on brink of catastrophe