{"id":2961,"date":"2008-10-01T11:18:30","date_gmt":"2008-10-01T16:18:30","guid":{"rendered":"http:\/\/planetwaves.net\/news\/?p=2961"},"modified":"2011-06-06T15:36:23","modified_gmt":"2011-06-06T19:36:23","slug":"the-credit-crisis-bleeds-into-the-environmental-crisis","status":"publish","type":"post","link":"https:\/\/planetwaves.net\/news\/economics\/the-credit-crisis-bleeds-into-the-environmental-crisis\/","title":{"rendered":"The Credit Crisis bleeds into the Environmental Crisis"},"content":{"rendered":"<p>Dear Friend and Reader,<\/p>\n<p>In the midst of the financial tumble, the majority of us are watching the news and doing our best to get a grasp on things and understand how we&#8217;re affected by <a href=\"http:\/\/www.nytimes.com\/2008\/10\/01\/business\/worldbusiness\/01global.html?ref=business\">the loss of major banks and financial institutions<\/a>, the <a href=\"http:\/\/www.nytimes.com\/2008\/09\/30\/business\/30bailout.html?hp\">failure of the initial $700 billion bailout<\/a> plan and the <a href=\"http:\/\/www.baltimoresun.com\/news\/local\/politics\/bal-te.bz.markets30sep30,0,5661683.story\">biggest one-day drop in Dow history<\/a>.<\/p>\n<p>Our immediate surroundings lead us to personal questions: <em>will I lose my job; will I lose my home?<\/em> Then it spreads out to the world around us: <em>will this affect how people vote in the election; and if all this taxpayer money is going towards the bailout, then what will we expect to lose in the re-structuring of funds?<\/em><\/p>\n<p>While it&#8217;s too early to say how the vice presidential debates will go, let alone the election, there is one major project that will start simmering on the back burner: the environment.<\/p>\n<p>While McCain isn&#8217;t paying much attention to alternative energy anyway, focusing instead on our <a href=\"http:\/\/www.johnmccain.com\/Informing\/Issues\/17671aa4-2fe8-4008-859f-0ef1468e96f4.htm\">dependence on foreign oil<\/a> (how many times have you heard those four words strung together?), <a href=\"http:\/\/www.reuters.com\/article\/reutersEdge\/idUSTRE48S3P220080929?pageNumber=1&amp;virtualBrandChannel=10112\">Reuters reports<\/a> that Barack Obama: &#8220;previously promised to invest $150 billion over the next decade to develop affordable, renewable energy sources and clean coal, touting these as a long-term energy solution rather than new, off-shore oil drilling.&#8221;<\/p>\n<p>This plan will now be scaled back to accommodate the squeakiest wheel &#8212; crashing financial institutions.<\/p>\n<p>While this is disconcerting news, I&#8217;m not sure that it&#8217;s time to panic just yet. There&#8217;s going to be a re-vote on the bailout today, and it includes new provisions, according to <em><a href=\"http:\/\/www.nytimes.com\/2008\/10\/02\/business\/02bailout.html?_r=1&amp;hp&amp;oref=slogin\">The New York Times<\/a><\/em>. &#8220;Top lawmakers said the Senate proposal, worked out after a day of behind the scenes maneuvering, would include tax breaks for businesses and alternative energy and higher government insurance for bank deposits.&#8221;<\/p>\n<p>At this point, the best we can do is wait and see, and try to stay positive. There are some people in the Senate and House of Representatives that are committed to we average citizens and the fate of the planet: not just those of the biggest banks, the largest institutions.<\/p>\n<p>Yours &amp; truly,<\/p>\n<p><img loading=\"lazy\" title=\"Planet Waves\" src=\"https:\/\/i0.wp.com\/www.planetwaves.net\/home\/homepix\/r_sign2.jpg?resize=165%2C40&#038;ssl=1\" alt=\"Rachel Asher\" vspace=\"10\" width=\"165\" height=\"40\" data-recalc-dims=\"1\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dear Friend and Reader, In the midst of the financial tumble, the majority of us are watching the news and doing our best to get a grasp on things and understand how we&#8217;re affected by the loss of major banks and financial institutions, the failure of the initial $700 billion bailout plan and the biggest &#8230; <a title=\"The Credit Crisis bleeds into the Environmental Crisis\" class=\"read-more\" href=\"https:\/\/planetwaves.net\/news\/economics\/the-credit-crisis-bleeds-into-the-environmental-crisis\/\" aria-label=\"More on The Credit Crisis bleeds into the Environmental Crisis\">Read more<\/a><\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"generate_page_header":""},"categories":[49,111,14],"tags":[337,336,36,335,52,252,117],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/posts\/2961"}],"collection":[{"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/comments?post=2961"}],"version-history":[{"count":0,"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/posts\/2961\/revisions"}],"wp:attachment":[{"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/media?parent=2961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/categories?post=2961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planetwaves.net\/news\/wp-json\/wp\/v2\/tags?post=2961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}