Wednesday, September 14, 2011

Greece to Tap Solar to Save its Economy

In our last post, we related a warning that the Obama administration's direct links to the IMF would result in "senior management" there pushing the same policies to deal with Europe's economic meltdown that were tried (with dismal results) here in the US.

Less than 24 hours later, we read that "Greece Pushes $1.4 Billion in Solar Investment to Boost Economy." Notwithstanding the solar energy "industry's" unbroken 40+ year history of proven economic non-viability, Greece is allegedly determined to pull itself out of its debt morass by hitching its economic star to (ha, no pun intended) the black hole of solar energy.

Bloomberg reports:
Greece Pushes $1.4 Billion in Solar Investment to Boost Economy

Greece, which pays Europe’s highest premium for solar power, said it will fast-track three solar photovoltaic projects with a total investment of 1 billion euros ($1.4 billion) to help revive its economy.
We know that Greece is in a crisis. We know that people in a crisis are sometimes incapable of making good decisions. Does this apply entire nations as well? Is Greece really so traumatized by crisis that it believes writing a check for $1.4 billion to solar industry promoters will "help revive its economy?" Was Greece instead "encouraged" or was it pressured to do so by an IMF that is committed to implementing the Obama administration's meltdown policies abroad? If Greece is going to write the check, whose money is going to back that check up? Wouldn't it be some of the US taxpayer money that has already been pledged to bail out Greece (and other European nations).

It wouldn't be too much of a stretch to wonder if US taxpayer money is being funnelled to solar promoters through Greece, at the direction of the IMF, which is at the direction of Christine Lagarde, who was tutored by David Lipton, who is a former Obama "advisor." Mr. Lipton, who wrote The Lagarde Dictum which was unleashed at Jackson Hole recently, serves as Miss Lagarde's "first deputy" at the IMF. According to Bloomberg, he also "held various positions" at Clinton's Treasury in the 1990's.

We don't think the Greek people are stupid. We do think they are desperate. And we know who the IMF, under the direction of Christine Lagarde, represents. We also know that the Obama administration has demonstrated a willingness to lavish favor upon solar industry operators with an apparent disregard for propriety, viability, perhaps even legality, and at taxpayer expense.

What would be worse: if this press release were sincere, or if it were merely an exercise in propaganda for an industry that the Obama administration has questionable ties to?

Look, we won't beat around the bush: for our money, this is political graft, plain and simple. This is Chicago politics gone global.

Note: See this primer on Solyndra, the solar outfit that took hundreds of millions of taxpayer dollars, in the form of loans, from the Obama administration just before it defaulted on those loans through bankruptcy.


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