Physorg -Â German firms Solar Millennium AG and MAN Ferrostaal AG on Monday said they formed a joint venture to build up to three utility-scale plants in Southern California at a cost about $1 billion each. Read Article
Daily Telegraph -Â Mervyn King, the governor of the Bank of England, was overruled in a bid to expand the size of the radical programme of printing money to Â£200bn, it has been revealed.Â Mr King and two fellow members of the Bank’s Monetary Policy Committee wanted to increase the scale of the programme – known as quantitative easing (QE) by Â£75bn to Â£200bn,Â minutesÂ of this month’s meeting of the MPC showed. The six other members of the MPC voted to lift the programme by Â£50bn to Â£175bn in a decision that itself shocked markets. Read Article
The Historian – The pefect recipe for making inflation: Create a nice big national debt, then mix in aÂ debased money supply by printing money (quantitative easing). If you cook it long enough you will have hyper-inflation and that is one genie that it is difficult to get back into the bottle.