And that is another aspect of our economy. Because the markets in so many nations are tied together, to some extent, a disaster in Japan can have a very adverse effect on the market in the US. Monday's almost here. Let's cross our fingers. I think we are about to have somewhat of a wild ride, although I expect it to be relatively short-lived. However, I think it will take quite a few years for Japan to fully recover from what has already happened, and from the nuclear situation that is still in play at this time. Even if total meltdowns are prevented at the plants there, those that have had corrosive seawater pumped into them are now completely unusable. No matter how this plays out, Japan is going to be dealing with electricity shortages, and higher prices for electricity for quite some time. That, of course, is going to affect the price of electricity there, and along with it, consumer prices. Japan most likely will also have to import more oil for a while, which is going to drive prices in the US up even higher.TOKYO – Japan's central bank injected a record 7 trillion yen ($85.5 billion) into money markets and the Tokyo stock market nosedived Monday on the first business day since an earthquake and tsunami devastated the country's northeast and raised dire worries about the economy.
Energy is a more fragile commodity that we realize, and as evidenced in Japan, it can disappear in an instant, when a disaster happens. This is why going green is a good idea. We need to end our reliance on Middle Eastern oil, and we also need to replace it with something that is not going to take many, many years to build and put online, which of course, is nuclear power plants. I am still in favor of them, but I also agree with ALL of the safety provisions and regulations that are in place, which is the reason they are taking so long to build. After all, Chernobyl and 3 Mile Island can no longer be considered as "isolated incidents". There is danger in building a nuke plant, but reasonable people can build them with safety in mind, thus mitigating the dangers to acceptable levels. Nuclear power can be a wonderful genie, just so long as we do not, in haste, let it out of the bottle. Which means of course, going green and developing something that can supply our energy needs in a relatively shorter period of time, while adding more nukes to our long-term energy strategy. Finally, one more word here - Conservation, conservation, and conservation. OK, make that 3 words.
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