testosteronepit.com / By Wolf Richter / December 19, 2012, 6:08PM
One of the pillars of the Japanese economy has been its exports. That pillar has been crumbling for years, but the deterioration this year has progressed at a phenomenal pace. At fault: China and Europe. But beyond the noise, Japanese companies have been investing their valuable yen overseas, and it’s making the deficit structural. An ugly combination.
In November, exports (¥4.98 trillion) dropped [...]
Abound Solar Inc., a U.S. solar manufacturer that was awarded a $400 million U.S. loan guarantee, will close its doors and file for bankruptcy because its panels were too expensive to compete with Chinese products, according to the U.S. Energy Department.
Abound, based in Loveland, Colorado, borrowed about $70 million against the guarantee, the Energy Department said today in a statement. Calls to Abound executives weren’t returned today.
The failure would follow [...]
With a decision from the U.S. Department of Commerce (DOC) expected this week on whether to impose tariffs on solar products imported from China, several companies – including Dow Corning, Hemlock Semiconductor, GT Advanced Technologies, MEMC, REC Silicon and Suntech America – have announced their opposition to the trade action.
The DOC’s investigation was prompted by an October 2011 petition from SolarWorld and other members of the Coalition for American Solar [...]
35 Facts About The Gutting Of America’s Industrial Might That Should Make You Very Angry
Did you know that an average of 23 manufacturing facilities were shut down every single day in the United States last year? As World War II ended, the United States emerged as the greatest industrial power that the world has ever seen. But now America’s industrial might is being gutted like a fish [...]
Top of the agenda will be ratification of the European Financial Stability Facility’s new powers. Photo: Patrick Frilet / Rex Features
By Philip Aldrick, Economics Editor
Global imbalances are as entrenched as they ever were. Budget deficits dominate the political agenda, with countries from the US to Italy to Greece still grappling unsuccessfully with their debts. Trade imbalances continue to warp economies, as [...]
When the bill for the debt is due, the crash will be the biggest in history! People will not have money even for the basic necessities! Consumer economy is a myth! Only producers prosper. Consumers consume and go into debt and suffer. Consumer credit is up again! They are saying the consumer is not earning enough, we are borrowing from China and spending it to buy more Chinese products!