Feb 23 notes

February 25, 2009 § Leave a comment

Whether the Obama Government aids local development or enhances central control will be crucial.


Last weekend I spoke with a few builders and land developers. Talk about a depressing group. In many areas of California the builders can’t compete with lender REOs, since the lenders are selling REOs below replacement costs (including construction and all entitlements). 

As one developer said: “We can’t compete even if the land is free!


From the New Yorker


Rahm Emanuel on the job.

by Ryan Lizza


Banks under stress

Feb 23rd 2009

From Economist.com

Is it time to nationalise Citigroup and Bank of America?


American Express was a recipient of TARP funding, albeit a “nominal” $3.39 billion.  What makes this interesting is that not only is American Express not expanding lending – the selling point of the original TARP proposal – they are using the funds (money is fungible) to explicitly contract lending. Such a vivid illustration of the industry’s challenges.


A scene.

a: what counts is free markets and stuff, you know, opportunity for all.

b: give them opportunity but not too much help. We got it, we want to keep it.

a: see what you mean. Thins have changed, its who has it now.

b: and how we live with it, style you know, and presence.

A yes presents are good. Shows good will.


Freeman Dyson has written

Within a few more decades, as the continued exploring of genomes gives us better knowledge of the architecture of living creatures, we shall be able to design new species of microbes and plants according to our needs. The way will then be open for green technology to do more cheaply and more cleanly many of the things that gray technology can do, and also to do many things that gray technology has failed to do. Green technology could replace most of our existing chemical industries and a large part of our mining and manufacturing industries. Genetically engineered earthworms could extract common metals such as aluminum and titanium from clay, and genetically engineered seaweed could extract magnesium or gold from seawater. Green technology could also achieve more extensive recycling of waste products and worn-out machines, with great benefit to the environment. 

An economic system based on green technology could come much closer to the goal of sustainability, using sunlight instead of fossil fuels as the primary source of energy.

I say only that green technology has enormous promise for preserving the balance of nature on this planet as well as for relieving human misery. Future generations of people raised from childhood with biotech toys and games will probably accept it more easily than we do.


See, for background on nationalization

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You are currently reading Feb 23 notes at Reflections on GardenWorld Politics Douglass Carmichael.


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