Meltdown

[BachQ]

NYT: "Passive Houses" are the rage (26 Dec 2008) -- The concept of the passive house ... [incorporates] ultrathick insulation and complex doors and windows; the architect engineers a home encased in an airtight shell, so that barely any heat escapes and barely any cold seeps in. That means a passive house can be warmed not only by the sun, but also by the heat from appliances and even from occupants' bodies. And in Germany, passive houses cost only about 5 to 7 percent more to build than conventional houses.

[N]ew passive houses use an ingenious central ventilation system. The warm air going out passes side by side with clean, cold air coming in, exchanging heat with 90 percent efficiency. "The myth before was that to be warm you had to have heating. Our goal is to create a warm house without energy demand," said Wolfgang Hasper, an engineer at the Passivhaus Institut in Darmstadt. "This is not about wearing thick pullovers, turning the thermostat down and putting up with drafts. It's about being comfortable with less energy input, and we do this by recycling heating." There are now an estimated 15,000 passive houses around the world, the vast majority built in the past few years in German-speaking countries or Scandinavia.

[ezodisy]

   This is vicious garbage. Don't you find swindlers among your "own kind"? Or do you only look for them among people you already hate?

So much emotion, and it's all so needless. Didn't I say it's common enough, even the prevailing state? Perhaps it's the word rabble which threw you. Anyway you sound a little bit silly saying "or do you only look for them among people you already hate?". Luckily I know that you weren't being serious, otherwise it would have sounded stupid.

[drogulus]

So much emotion, and it's all so needless. Didn't I say it's common enough, even the prevailing state? Perhaps it's the word rabble which threw you. Anyway you sound a little bit silly saying "or do you only look for them among people you already hate?". Luckily I know that you weren't being serious, otherwise it would have sounded stupid.

    You can't clever your way out of this. What you said is disgraceful, and the only honorable thing to do is apologize.

[ezodisy]

There's nothing to get out of*, though you may want to unwind your imagination because it seems to have gotten itself into a knot. This sort of screw-your-own-kind type exists everywhere and is common enough among the jewish people too. I spent enough time in midtown Manhattan with some of my uncles jewish buddies to know how desperately they wanted to screw each other over in business. At least now there's a clear publicised representation of it, and once you get past the tragedy of the suicide and the closed charities and so on you might find a lot of humour there, if you appreciate how messed and degenerate people are -- all people.

*please don't reply if you're going to throw all sorts of loaded moral rubbish into the discussion. There's no honour among moralists.

[drogulus]

     You didn't say all people. That's what I say, and what you say now.

It's quite amusing how he so extensively duped his own kind in this scandal. A sound wakeup call for some of the fraternity, no doubt. I once knew someone like that and he came to a very bad end. Still it's common enough, even the prevailing state-- there's no shortage of a Tartuffe and his rabble. With that in mind it does make me curious as to when Israel may eventually bomb itself.

     This is what you said then.

[ezodisy]

Yes and that is what I say now too. All people, including everyone in Israel (maybe even especially in Israel). Now stop being nasty. It's early and I have to go out and it's cold 

[BachQ]

Kind of shortsighted.  Why not pray for workable fusion power and more efficient batteries for electric cars?

http://news.yahoo.com/s/afp/20080505/lf_afp/usreligionpovertyenergyoil

With fusion experiment, scientists plan to ignite tiny man-made star (UK Telegraph 27 Dec 2008)   "We are creating the conditions that exist inside the sun," said Ed Moses, director of the facility. "It is like tapping into the real solar energy as fusion is the source of all energy in the world. It is really exciting physics, but beyond that there are huge social, economic and global problems that it can help to solve."


Inside the target chamber, where scientists will attempt to create an artificial sun.  Photo: Lawrence Livermore National Laboratory

[BachQ]

WSJ: Recession, Tight Credit Compound Housing Woes -- A deepening recession and tight credit conditions are compounding problems in the housing market, suggesting that declines in home prices may continue well into 2009. ...

[NOTE: The Federal Housing Finance Agency said this week that the median sale price of an existing home declined to $181,300 in November, down 13.2% from a year earlier. That is the largest drop in the four-decade history of the survey and likely the sharpest decline since the Depression. The group estimates that 45% of existing-home sales are linked to foreclosures].

The adverse feedback loop:

The housing sector has been hit hard throughout the year by an oversupply of homes that gradually forced high prices to fall. Tumbling prices, in turn, hurt the overall economy by battering financial institutions, reducing the wealth of homeowners and prompting job cuts in the housing sector. Now, the worsening recession is further damaging the housing market. Consumers who lose their jobs are adding to homeowner defaults, pushing forecasts for when the sector will hit bottom into the second half of 2009 or later. ... "What will be a significant number of foreclosures over coming quarters will only add to the inventory overhang and keep downward pressure on house prices," said Richard Moody, chief economist at real-estate firm Mission Residential, which expects prices to stop falling in 2010.

[BachQ]

crude going to $25 Dm?

According to Gulf CEO Joe Petrowski during a CNBC interview, crude oil could slide to $20/bbl if current conditions persist: "Oil's got some more downside. Whether it hits $20--could--but I think $25 is in the cards."

[ezodisy]

With fusion experiment, scientists plan to ignite tiny man-made star (UK Telegraph 27 Dec 2008)   "We are creating the conditions that exist inside the sun," said Ed Moses, director of the facility. "It is like tapping into the real solar energy as fusion is the source of all energy in the world. It is really exciting physics, but beyond that there are huge social, economic and global problems that it can help to solve."

that's interesting. I hope their funding doesn't get cut during the Great Depression II.

So Dm when will the Euro collapse? I'm not buying into this song and dance of strength, it's about time to sell it, I think.

[BachQ]

I hope their funding doesn't get cut during the Great Depression II.

Speaking of GDII ... on NPR, analyst Howard Davidowitz concludes that the 2008 retail season was the worst in 50 years and that a "depression is not off the table" (4 minute audio)

[ezodisy]

--Bloomberg reckons that between cash, bank deposits, and money market mutual funds, investors have squirreled away US$8.85 trillion. That amount is equal to 74% of the total market capitalisation of the stock market. The last time the ratio that was high was in 1990, on the eve of the last U.S. recession.
--Yet the ratio has been even higher in the past. In July of 1982, the total cash position was 95% of total market cap. Stocks bottomed at that point and the S&P 500 rose by 36% over the next six months, according to Bloomberg.
--Then there's 1974. The total cash position of investors actually exceeded the stock market capitalisation by 121%. Then, between October 1974 and March 1975 stocks rallied by 31%.

[ezodisy]

A passenger plane has successfully completed a two-hour test flight partly powered by vegetable oil.

Air New Zealand hailed the flight as a "milestone" in the development of sustainable fuels that could lower aeroplane emissions and cut costs.

One engine of the Boeing 747-400 was fueled by a 50-50 mixture of jatropha plant oil and standard A1 jet fuel.

A Virgin Atlantic test flight in February used fuel derived from a blend of Brazilian babassu nuts and coconuts.

In Auckland on Tuesday, a range of tests were completed both on the ground and during the flight, said Air New Zealand Chief Pilot David Morgan.

He said the oil from the plum-sized jatropha fruit performed "well through both the fuel system and engine".

[BachQ]

2008 in review:

Britain's FTSE 100 posted its worst year on record, down 31%, with £480billion wiped out.
Britain's FTSE All Share did even worse, falling by 32.78%.
Germany's DAX experienced its second-worst annual performance in its 20-year history, down 40.4%
France's CAC plunged 42.7% over the year
The Dow Jones sank nearly 34% in 2008, its worst year since 1931, wiping out $US6.9 trillion.
Shanghai's stock market lost a record 65% (US$3 trillion wiped off share values).
Japan's Nikkei fell 42%, an alltime record.
Hong Kong's Hang Seng index plummeted 48% lower, its 2d-biggest drop (worst since the 70's oil shock)
India's main index in Mumbai nosedived by more than half, losing 51.9% in 2008
The Australian sharemarket lost 41% of its value during 2008.

[BachQ]

A passenger plane has successfully completed a two-hour test flight partly powered by vegetable oil.

Air New Zealand hailed the flight as a "milestone" in the development of sustainable fuels that could lower aeroplane emissions and cut costs.

One engine of the Boeing 747-400 was fueled by a 50-50 mixture of jatropha plant oil and standard A1 jet fuel.

A Virgin Atlantic test flight in February used fuel derived from a blend of Brazilian babassu nuts and coconuts.

In Auckland on Tuesday, a range of tests were completed both on the ground and during the flight, said Air New Zealand Chief Pilot David Morgan.

He said the oil from the plum-sized jatropha fruit performed "well through both the fuel system and engine".

Fill 'Er Up With Human Fat -- How a Beverly Hills doctor powered his SUV using his patients' spare tires. Liposuctioning unwanted blubber out of pampered Los Angelenos may not seem like a dream job, but it has its perks. Free fuel is one of them. For a time, Beverly Hills doctor Craig Alan Bittner turned the fat he removed from patients into biodiesel that fueled his Ford SUV and his girlfriend's Lincoln Navigator.

Love handles can power a car? Frighteningly, yes. Fat--whether animal or vegetable--contains triglycerides that can be extracted and turned into diesel. Poultry companies such as Tyson are looking into powering their trucks on chicken schmaltz, and biofuel start-ups such as Nova Biosource are mixing beef tallow and pig lard with more palatable sources such as soybean oil. Mike Shook of Agri Process Innovations, a builder of biodiesel plants, says this year's batch of U.S. biodiesel was likely more than half animal-derived since the price of soybeans soared.

A gallon of grease will get you about a gallon of fuel, and drivers can get about the same amount of mileage from fat fuel as they do from regular diesel, according to Jenna Higgins of the National Biodiesel Board. Animal fats need to undergo an additional step to get rid of free fatty acids not present in vegetable oils, but otherwise, there's no difference, she says.

[BachQ]

Rising desperation as China's exports drop

[BachQ]

Dec. 29 (Bloomberg) -- U.S. retailers face a wave of store closings, bankruptcies and takeovers starting next month as holiday sales are shaping up to be the worst in 40 years. Retailers may close 73,000 stores in the first half of 2009, according to the International Council of Shopping Centers. Talbots Inc. and Sears Holdings Corp. are among chains shuttering underperforming locations.

[BachQ]

Commodity Boom Turns Bust in 2008 as Worldwide Economy Crumbles "Macroeconomically, we're in a free fall," said John Brynjolfsson, the managing director and chief investment officer at hedge fund Armored Wolf LLC in Aliso Viejo, California. "That's a complete destruction in industrial production and demand, and this is likely to keep pressure on the commodity sector in general."

[ezodisy]

Britain's FTSE 100 posted its worst year on record, down 31%, with £480billion wiped out.
Britain's FTSE All Share did even worse, falling by 32.78%.
Germany's DAX experienced its second-worst annual performance in its 20-year history, down 40.4%
France's CAC plunged 42.7% over the year
The Dow Jones sank nearly 34% in 2008, its worst year since 1931, wiping out $US6.9 trillion.
Shanghai's stock market lost a record 65% (US$3 trillion wiped off share values).
Japan's Nikkei fell 42%, an alltime record.
Hong Kong's Hang Seng index plummeted 48% lower, its 2d-biggest drop (worst since the 70's oil shock)
India's main index in Mumbai nosedived by more than half, losing 51.9% in 2008
The Australian sharemarket lost 41% of its value during 2008.

I saw a smaller comparison on Bloomberg and immediately wondered why the FTSE was down less than its neighbours either side (US & France). I don't think that that makes any sense, though perhaps there are reasons I dont' know of. If there aren't, then I think we're heading for my mate's target of 2500. I would really like to see gold tank to $400 so I could load up on the physical--in the future you'll have to buy things like bread and butter with gold--but I don't think it's gonna happen. I sold it overnight Tuesday at $873, there's potential BARF on the daily and the price at present is still a lower high from Sept/Oct, and closed at $860 the next day, immediately after which it went up to $880. Too much dip buying, I keep hoping for the Fed to manipulate it down further but am becoming less hopeful by the day. Anyway once people get back to work next week we should see some good action, such as the Euro taking a beating sooner or later

[Lethevich]

2008 in review:

Britain's FTSE 100 posted its worst year on record, down 31%, with £480billion wiped out.
Britain's FTSE All Share did even worse, falling by 32.78%.
Germany's DAX experienced its second-worst annual performance in its 20-year history, down 40.4%
France's CAC plunged 42.7% over the year
The Dow Jones sank nearly 34% in 2008, its worst year since 1931, wiping out $US6.9 trillion.
Shanghai's stock market lost a record 65% (US$3 trillion wiped off share values).
Japan's Nikkei fell 42%, an alltime record.
Hong Kong's Hang Seng index plummeted 48% lower, its 2d-biggest drop (worst since the 70's oil shock)
India's main index in Mumbai nosedived by more than half, losing 51.9% in 2008
The Australian sharemarket lost 41% of its value during 2008.

Something that is confusing me: I thought the UK was considered by most as faring among the worst in this crisis?

Edit: Ok, Sidoze got there first

I saw a smaller comparison on Bloomberg and immediately wondered why the FTSE was down less than its neighbours either side (US & France). I don't think that that makes any sense