Don’t wait for your government to admit the size of the problem before you take action. At that point, it’s too late. Remember, the Fed isn’t willing to admit the US economy is in a recession even after two quarters of negative GDP growth.

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by BoatSurfer600

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Listening to European Electricity Traders Is Very, Very Scary

Every week, the people who trade electricity in the UK get to quiz the managers of the national grid for an hour. The conference call, which anyone can monitor, offers an insight into what the men and women on the front line of the power market are worried about. Listening to them is getting scarier by the week — and suggests keeping the lights on this winter will be a lot more challenging than European governments are admitting.

Prices are worrying enough. British households were told on Friday that their power and gas bills will increase from Oct. 1 by 80%. The so-called energy price cap was set at £3,549 ($4,189) per year, up from £1,971 over the past six months and £1,277 during last winter

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