A sustainable depression

If the Dow fell 85 percent, most folks would call that a depression. So why doesn’t that apply to the “sustainable” energy business - mainly solar and wind power - where shares have fallen an average of 85 percent to 90 percent, even excluding the bankrupt Solyndras, Evergreens and Solons? This depression is global, hitting Chinese Suntech, the world’s largest producer of solar panels, as well. Suntech has seen its shares plunge 88 percent. As in other depressions, scads of real money has been lost, sustained by the snake oil that global warming is such a threat to us all that we should not just encourage, but legally compel,people to install the most economically inefficient form of electrical generation on the planet - solar photovoltaic, and its sibling in inconstancy, wind power. In various states and around the world, these are legislated by “renewable portfolio standards.” What we get is a sustainable depression...more