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Month of November, 2008
November 25, 2008 - 08:31:41 PM
Just think of what could have been accomplished had we chosen to deploy 10 Trillion dollars toward really making our country work and the world work for all humanity instead of propping up a house whose foundations have been found to be rotten to the core. Time for a makeover of the world's entire financial system from the ground up...... JA
According to Barry Ritholtz, the blogger behind "The Big Picture" and CEO and Director of Equity Research at Fuison IQ, an online quantitative research firm, "If we add in the Citi bailout, the total cost now exceeds $4.6165 trillion dollars. People have a hard time conceptualizing very large numbers, so let’s give this some context. The current Credit Crisis bailout is now the largest outlay In American history. Jim Bianco of Bianco Research crunched the inflation adjusted numbers. The bailout has cost more than all of these big budget government expenditures – combined:"
• Marshall Plan: Cost: $12.7 billion, Inflation Adjusted Cost: $115.3 billion
TOTAL: $3.92 trillion
"That is $686 billion less than the cost of the credit crisis thus far. The only single American event in history that even comes close to matching the cost of the credit crisis is World War II: Original Cost: $288 billion, Inflation Adjusted Cost: $3.6 trillion"
"The $4.6165 trillion dollars committed so far is about a trillion dollars ($979 billion dollars) greater than the entire cost of World War II borne by the United States: $3.6 trillion, adjusted for inflation (original cost was $288 billion). Go figure: WWII was a relative bargain."
Ritholtz estimates "that by the time we get through 2010, the final bill may scale up to as much as $10 trillion dollars." "Bloomberg calculates the total amount the taxpayer is on the hook for is $7.76 trillion, or $24,000 for every man woman and child in the country. (Data breakdown is here)
On Nov. 24 2008 the US Treasury agreed to guarentee $306,000,000,000.00 of Citigroup's troubled assets. This was on top of the Treasury's recent cash infusions of $45,000,000,000.00 into Citigroup. According to Michael Lewis and David Einhorn's 1.4.2009 NYT OpEd piece - " The End of the Financial World as We Know It " , the bailout of Citigroup equated to almost 2 percent of gross domestic product, and about what we spend annually on the departments of Agriculture, Education, Energy, Homeland Security, Housing and Urban Development and Transportation combined.
November 26, 2008 - 08:47:52 AM
Factories, data centers, power plants--even your clothes dryer--throw off waste heat that could be a useful source of energy. But most existing heat-harvesting technologies are efficient only at temperatures above 150 °C, and much waste heat just isn't that hot. Now Ener-G-Rotors, based in Schenectady, NY, is developing technology that can use heat between 65 and 150 °C.
The company replaces the turbine in a typical electrical generator with a device called a gerotor, which it claims to have made "near frictionless." "If this works, it's so huge," says Bob Bechtold, president of Harbec Plastics, one of Ener-G-Rotors' potential customers. "I've been dreaming about the concept of using [low-temperature waste heat] ever since I first knew what it was about . . . It's all about using what we have more completely."
Ener-G-Rotors' technology is based on the Rankine cycle, in which heated fluid flowing through a tube heats a pressurized fluid in a second tube via a heat exchanger. The second tube is a closed loop; the so-called working fluid flowing through it (a refrigerant with a low boiling point, in the case of Ener-G-Rotors) vaporizes and travels into a larger space called an expander. There, as the name would imply, it expands, exerting a mechanical force that can be converted into electricity.
Instead of turning a turbine, the expanding vapor in Ener-G-Rotors' system turns the gerotor, which is really two concentric rotors. The inner rotor attaches to an axle, and the outer rotor is a kind of collar around it. The rotors have mismatched gear teeth, and when vapor passing between them forces them apart, the gears mesh, turning the rotor.
The company claims that the rotor design is far simpler than that of a turbine, making it potentially easier and cheaper to manufacture, as well as more durable. And the company says that it has invented a proprietary way of mounting the rotor on rolling bearings that makes its movement nearly frictionless.
Reducing the friction means that the rotor turns more easily, so the gas doesn't need to exert as much force to generate electricity. That's why the system can work at lower temperatures, which impart less energy to the gas. READ MORE »
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