April 4, 2009
Simon Johnson makes an excellent point:
Remember this. If you run an expansionary fiscal policy (building bridges), I have an incentive to free ride (selling you BMWs) and not engage in a similar fiscal stimulus. But if you run an expansionary monetary policy, your exchange rate will tend to depreciate, putting pressure on my exporters and I’ll be pushed – by BMW-type producers – towards providing a parallel monetary stimulus.
Europe will come around. But 1 trillion to Eastern Europe and Latin America from the IMF will help a lot for now.
January 24, 2009
Germany is installing 6 Multibrid M5000 turbines offshore from French company Areva.
Each produces 5MW (about 5,000 homes). Blade diameter is 120M. Carbon fiber is used throughout to make them lighter and stronger. They are mostly assembled onshore, so a lot easier to install.