Because the Fed is in a quandry. The schedule they started on last November says 4% by now.

At least three busses were blown and more than six explosions occured in the London UndergroundAt first I thought they were going to blame it on a power problem. I am glad that they didn't. Bombs are probably less traumatic than an admission that there were engineering failures. However, Londoners are used to bombs. At least, they understand them. ( Read more... )

The BBC still doesn't get it. The US can't sign the Kyoto Accords. The Kyoto Accords are a boondoggle anyway. The G8 are foolish to think that they can effect global climate. When the weather changes, get the fuck out of the rain! In this case, they need to think about migrating our civilization off of the at-risk shoreline before the seas rise too ( Read more... )

According to this, China and India also wont sign, for similar reasons (I'll discuss the African debt issue under a different heading).

It works like this:

1. Most of remaining US pollution sources are fossil-fuel power generators, mostly coal.
2. Remaining US industry and business relies heavily on the availability of reliable and cost-effective power.
3. ( Read more... )