The Feds Mandate That the US Postal Service Lose Money

❝ For the first three months of 2018, the US Postal Service reported a $1.3 billion loss, up from $562 million a year ago.

The basic issue is that revenue is growing more slowly than expenses. Total revenue grew by 1.4% while total expenses grew by 5.7%. Clearly, that makes for a less profitable business. This is a government-mandated financial squeeze and there are two main causes.

❝ First, regular mail—that is, the ordinary letters sent by individuals and businesses on a daily basis—is a declining business; volume-per-end-point (the mailbox) declined by 3.4% this year. Overall, regular mail is down 35% over the past 10 years. The problem is that the cost to deliver doesn’t decline with lower volume…

❝ Second, retirement expenses are growing significantly. Retiree health benefits increased 60% since last year and unfunded retirement benefits increased a whopping 142%…

RTFA. After all, there is some good news. Mostly from doing business with folks like Amazon.

Portugal is Europe’s New Booming Not-Germany-Approved Economy

❝ Germany’s resolute Chancellor Angela Merkel is not usually one to admit she’s been wrong. But this autumn, when it comes to her faith in austerity economics in Europe, Merkel, together with her then-Finance Minister Wolfgang Schaüble, did as much — in deed, if not in word…

Mario Centeno constitutes a shift in course. Until now, he has represented a Southern European country, Portugal, that received a 78 billion euro ($92 billion) bailout from its fellow European Union member states amid the euro crisis. But even more remarkable, Centeno was part of a leftist government with the backing of a communist party, which subsequently bucked the marching orders of its northern creditors and the troika composed of the European Central Bank, European Commission, and International Monetary Fund.

Portugal has proven it’s possible for a struggling country to defy German-imposed austerity in the EU and still succeedPortugal has proven it’s possible for a struggling country to defy German-imposed austerity in the EU and still succeed. That’s not to suggest that, just because Centeno has served a leftist Portuguese government, he will pursue radical policy ambitions in Brussels. But, as president of the Eurogroup, he will execute duties in a body that grew immensely in significance over the course of the financial crises and will be paramount in guiding the reform processes that still lie ahead…

Centeno, like the Portuguese government he served, already symbolizes the possibility that a new, less German, ideological era of economic governance is in the offing in Europe. Lisbon is the first Southern European government to climb out of the swamp of indebtedness and stagnation. Its economy is undergoing its fastest expansion in over a decade, and more growth is expected next year, which will shrink the country’s budget deficit to 1 percent of GDP — the slightest in 40 years. Unemployment this year fell to 9.2 percent, down from 17.5 percent in 2013, and exports are picking up…

Unlike the land of Chumps and a Fake President, a surprising number of EU Nations are willing to experiment with genuine reform. Sometimes conservative, often progressive, almost always advised by well-educated and market-proven economists instead of the obedient pap rolled out by our two-party beer commercials.

Wind Power Set a New Green Energy Record in Europe Last Week


Click to enlargeGetty Images

❝ On October 28, wind power sources from 28 countries in the EU set a new record: they provided 24.6% of total electricity — enough to power 197 million European households.

Though the spike in power was likely due to the powerful storm that passed over Europe that weekend, with 153.7 Gigawatts of wind power capacity installed in the EU (including the largest offshore wind farm off the coast of Kent) Europe is on its way to becoming a major force for renewable energy…

❝ …Offshore wind energy is now cheaper than nuclear energy in the UK, and countries across Europe receive significant portions of energy from wind. Denmark regularly gets more than 100 percent of its energy from wind (and hit 109% last weekend), while wind frequently provides Germany more than half of its electricity. Additionally, Scotland recently made news in opening the first floating wind farm, which should provide power to 10,000 homes.

Additionally, with new wind farms being constructed offshore, these high records are likely just the beginning of a new norm for European energy. Denmark’s Ørsted Energy is currently working on the world’s largest offshore wind farm for the UK, which will have the capacity of 1200 Megawatts when it opens in 2020—and they’re under contract to build what will become the next largest offshore wind farm, also in the UK, with a planned capacity of 1386 MW when it opens in 2022.

Gee, Republicans say the United States is incapable of reaching similar goals. They’re already happy with second-rate…from the White House to Congress.

Being led by third-rate minds makes it easier, I guess.

The race to block a Pacific oil route with a real estate development

oil terminal site
Click to enlargeDavid Kasnic

Environmental passions, which run hot in the Northwest over everything from salmon to recycling, generally get couched in the negative: Don’t fish too much, don’t put those chemicals up the smokestack, don’t build in that sensitive area.

But here in southern Washington, some environmental groups are quietly pushing a builder to move even faster with a $1.3 billion real estate project along the Columbia River that includes office buildings, shops and towers with 3,300 apartments.

The reason is oil.

Two miles west of the 32-acre project, called the Waterfront, one of the biggest proposed oil terminals in the country is going through an environmental review, with plans to transfer North Dakota crude from rail cars to barges. Up to four trains, carrying 360,000 barrels of oil, would pass every day through this city’s downtown, only a few hundred feet from the Waterfront’s towers, westbound from the Bakken shale oil fields…

The result is a sort of race to the crossing: If the Waterfront can get its bricks and mortar in the ground before the terminal is approved — possibly late next year, with litigation likely to follow — more people would be living and working near the oil-train line. Compounding what opponents, led by the city, say are the dangers of spills or derailments, would make the terminal’s path to approval steeper…

The Waterfront project, Brett VandenHeuvel said, makes the threats from the oil trains “more tangible and more real.” At least 10 large crude oil spills have been reported since early 2013 because of train accidents in the United States and Canada, including one in Quebec that caused a fire and explosion and killed 47 people…

The Vancouver city manager, Eric J. Holmes, said every advance at the Waterfront potentially changed the final arguments on the terminal, which he thinks could be years away, perhaps ending up before the State Supreme Court.

If the city itself changes in the meantime, he said, those final arguments about oil and rail and safety will change, too. “If it adds to the argument about our community’s safety, we’ll certainly invoke it,” he said.

Go for it, folks. The history of American courts ruling on behalf of NIMBYs is pretty strong. That the sum of struggle benefits the whole region – excepting folks profiting from the fossil fuel economy – ain’t a difficult motivator.

Noise polluters sentenced to listen to Barry Manilow

Judge Paul Sacco says his unorthodox punishment of forcing noise ordinance violators to sit in a room and listen to music they don’t like has cut down on repeat offenders in the small prairie town of Fort Lupton, 25 miles north of Denver.

Four times a year, offenders troop into a room and endure one hour of hits from Barry Manilow and Barney, the purple dinosaur…

Mr Sacco did not feel that the message that noise pollution was unacceptable was getting through, so he decided to give the teenagers a bit of their own medicine.

The playlist at a recent session included: Barry Manilow’s I can’t smile without you; The Platters’ Only You; Joni Mitchell’s Chelsea Morning.

Cripes. Except for Barry Manilow, I like the others.

I own the others!

Thanks, K B