A new design devised by a team of Penn State graduate researchers opens up a future of sustainable wastewater treatment.
The same kinds of bacteria used in wastewater treatment plants can also generate small amounts of electricity. But these two abilities have rarely been combined so cleverly.
In a study published last week, Penn State University researchers outlined a system called the microbial reverse electrolysis cell (MRC) that both cleans water and creates electricity.
Today it’s too expensive for practical applications in the field, but it opens up the possibility not only for more efficient wastewater cleanup, but also for hybrid water-treatment and power plants that can do both.
Ever since the beginning of the financial crisis and quantitative easing, the question has been before us: How can the Federal Reserve maintain zero interest rates for banks and negative real interest rates for savers and bond holders when the US government is adding $1.5 trillion to the national debt every year via its budget deficits? Not long ago the Fed announced that it was going to continue this policy for another 2 or 3 years. Indeed, the Fed is locked into the policy. Without the artificially low interest rates, the debt service on the national debt would be so large that it would raise questions about the US Treasury’s credit rating and the viability of the dollar, and the trillions of dollars in Interest Rate Swaps and other derivatives would come unglued.
In other words, financial deregulation leading to Wall Street’s gambles, the US government’s decision to bail out the banks and to keep them afloat, and the Federal Reserve’s zero interest rate policy have put the economic future of the US and its currency in an untenable and dangerous position. It will not be possible to continue to flood the bond markets with $1.5 trillion in new issues each year when the interest rate on the bonds is less than the rate of inflation. Everyone who purchases a Treasury bond is purchasing a depreciating asset. Moreover, the capital risk of investing in Treasuries is very high. The low interest rate means that the price paid for the bond is very high. A rise in interest rates, which must come sooner or later, will collapse the price of the bonds and inflict capital losses on bond holders, both domestic and foreign.
The question is: when is sooner or later? The purpose of this article is to examine that question.
Why won’t America’s 1 percent—such as the six Walmart heirs, whose wealth equals that of the entire bottom 30 percent—be a bit more . . . selfish? As the widening financial divide cripples the U.S. economy, even those at the top will pay a steep price.
Let’s start by laying down the baseline premise: inequality in America has been widening for decades. We’re all aware of the fact. Yes, there are some on the right who deny this reality, but serious analysts across the political spectrum take it for granted. I won’t run through all the evidence here, except to say that the gap between the 1 percent and the 99 percent is vast when looked at in terms of annual income, and even vaster when looked at in terms of wealth―that is, in terms of accumulated capital and other assets.
Consider the Walton family: the six heirs to the Walmart empire possess a combined wealth of some $90 billion, which is equivalent to the wealth of the entire bottom 30 percent of U.S. society. (Many at the bottom have zero or negative net worth, especially after the housing debacle.)
Warren Buffett put the matter correctly when he said, “There’s been class warfare going on for the last 20 years and my class has won.”
After the Civil War, the 13th, 14th, and 15th Constitutional amendments were passed which aided newly freed slaves in being equally treated under the law, or so the story goes. The fact of the matter is that slavery was- and still is- completely legal in the United States and not only that, but it took on a much different form. The institution of slavery changed as instead of having the direct enslavement of blacks with an entire apparatus that had to be created to keep slaves in their condition, elements of the state apparatus were used to enslave blacks, namely the legal and prison systems. Yet, the enslavement itself was changed as black convicts were no longer slaves to individual masters, but rather they were enslaved to the companies which they were leased out to. To create this system there not only had to be the involvement of the Southern judicial system and individual Northern and Southern elites, but also the involvement of the corporation and reinstitution of slavery within a corporate context.
The 13th Amendment
To attain a full understanding of the convict lease system, there must first be a reexamination of the 13th amendment. It has been stated in history books and in classrooms across America that this amendment ended slavery, yet this is quite false. The 13th Amendment states “neither slavery nor involuntary servitude, except as a punishment for crime whereof the party shall have been duly convicted, shall exist within the United States, or any place subject to their jurisdiction.” [1] (emphasis added) Thus, slavery is completely and totally legal if it is part (or the whole) of a punishment for someone who was convicted of a crime.
A Ministry of Foreign Affairs report circulating in the Kremlin today states that United States President Obama has undertaken a campaign to “crush” the nation of Poland after its government this past week officially banned the planting of Monsanto’s MON810, a genetically-modified (GM) variety of maize (corn) that produces its own built-in Bt insecticide in every kernel and is held to be responsible for the global collapse of bee populations and the catastrophic killing of all bat species in North America.
President Obama knows that agribusiness cannot be trusted with the policy and regulatory powers of government. On the campaign trail in 2007, he promised:
But, starting with his choice for USDA Secretary, the pro-biotech former governor of Iowa, Tom Vilsack(who in a stunning reversal greenlighted Monsanto’s genetically modified alfalfa without testing), Obama has let Monsanto, DuPont and the other pesticide and genetic engineering companies know they'll have plenty of friends and supporters within his administration.
President Obama has taken his team of food and farming leaders directly from the biotech companies and their lobbying, research, and philanthropic arms.
My colleague Jeannine Lemaire from the Core Team of the Standby Volunteer Task Force (SBTF) recently pointed me to Geofeedia, which may very well be the next generation in crisis mapping technology. So I spent over an hour talking with GeoFeedia's CEO, Phil Harris, to learn more about the platform and discuss potential applications for humanitarian response. The short version: I'm impressed; not just with the technology itself and potential, but also by Phil's deep intuition and genuine interest in building a platform that enables others to scale positive social impact.
Situational awareness is absolutely key to emergency response, hence the rise of crisis mapping. The challenge? Processing and geo-referencing Big Data from social media sources to produce live maps has largely been a manual (and arduous) task for many in the humanitarian space. In fact, a number of humanitarian colleagues I've spoken to recently have complained that the manual labor required to create (and maintain) live maps is precisely why they aren't able to launch their own crisis maps. I know this is also true of several international media organizations.
There have been several attempts at creating automated live maps. Take Havaria and Global Incidents Map, for example. But neither of these provide the customi-zability necessary for users to apply the platforms in meaningful ways. Enter Geofeedia. Lets take the recent earthquake and 800 aftershocks in Emilia, Italy. Simply type in the place name (or an exact address) and hit enter. Geofeedia automatically parses Twitter, YouTube, Flickr, Picasa and Instagram for the latest updates in that area and populates the map with this content. The algorithm pulls in data that is already geo-tagged and designated as public.
Charlie has always insisted that he never filled out the loan document — his mortgage broker did it, and he was actually a victim of mortgage fraud. (The broker later pleaded guilty to another mortgage fraud.) Indeed, according to a recent court filing by Charlie’s lawyer, the government failed to turn over exculpatory evidence that could have helped Charlie prove his innocence. For whatever inexplicable reason, prosecutors really wanted to nail Charlie Engle. And they did.
Second, though, it seemed incredible to me that with all the fraud that took place during the housing bubble, the Justice Department was focusing not on the banks that had issued the fraudulent loans, but rather on those who had taken out the loans, which invariably went sour when housing prices fell.
As I would later learn, Charlie Engle was no aberration. The current meme — argued most recently by Charles Ferguson, in his new book “Predator Nation” — is that not a single top executive at any of the firms that nearly brought down the financial system has spent so much as a day in jail. And that is true enough.
But what is also true, and which is every bit as corrosive to our belief in the rule of law, is that the Justice Department has instead taken after the smallest of small fry — and then trumpeted those prosecutions as proof of how tough it is on mortgage fraud. It is a shameful way for the government to act.
Phi Beta Iota: We have learned that the technical term for an out of control government in league with white collar criminals at the top of Wall Street and Main Street is “control fraud.” The Department of Justice has always been lax on white collar criminals, but under the Obama Administration it has become their de facto protector to the point of treason against the public interest.
