Articles by Grist staff

Japan may force utilities to buy surplus domestic solar power

TOKYO — Japan plans to soon require electricity companies to buy surplus power generated by household solar panels at about twice the current price, a government official said Tuesday. The scheme, to start as early as the fiscal year beginning in April, aims to promote solar power as part of efforts to cut greenhouse gas […]

Climate change risk underestimated: study

WASHINGTON — The risk posed to mankind and the environment by even small changes in average global temperatures is much higher than believed even a few years ago, a study said Monday. Published by the Proceedings of the National Academy of Sciences, the study updated a 2001 assessment by the Inter-governmental Panel on Climate Change […]

NASA mission to monitor carbon dioxide fails

WASHINGTON –A US satellite to monitor global carbon dioxide emissions plummeted into the ocean near Antarctica Tuesday after failing to reach orbit, NASA officials said, calling it a major disappointment for climate science. NASA said the satellite launched successfully from the Vandenberg Air Force Base in California aboard a Taurus XL rocket at 1:55 am […]

Two real financial thinkers venture into CNBC fantasy world; comedy ensues

Okay, this is priceless -- and anyone who wants to understand not only our economic calamity but also why we're still screwed has to watch it. Oh, and don't worry -- it's also absolutely, laugh-out-loud hilarious (in a bittter sort of way).

Nouriel Roubini and Nassim Taleb are two of our most trenchant and learned commenters on finance. It's time to start listening to them -- if Obama is serious about running a centrist administration, it's a scandal that he tapped Robin Rubin acolytes Summers and Geithner, not Roubini and Taleb, to run economic policy.

For years, the two men have been making the point that the U.S. economy is way too hinged on debt, speculation, obsession with short-term gain, and philistine optimism -- the very things raised to the level of fetish by the Rubin crowd. Roubini and Taleb predicted a cataclysmic tumbling of the house of cards built on that shaky foundation. They gained a small following, but were widely ignored -- particularly by the TV financial media, which became a craven, self-parodying machine for turning Wall Street and corporate hucksters into folk heroes.