The United States is
losing the renewable energy race. And as you might guess, it’s
China that’s out in front.
China has pledged $738 billion for
renewable energy projects over the next 10 years. The U.S.? Well, not so much.
Our $700 billion stimulus plan set aside a paltry $36
billion for renewable energy projects. And Congress has already started
eating into that allotment to fund other spending.
China, on the other hand, set aside $221
billion for renewable energy projects.
Of course, we all understand that China has more cash to invest in its
economy. But the issue here isn’t just about helping an economy recovering.
It’s about energy prices and jobs.
The International Energy Agency (IEA) estimates that there’s
a $27 trillion market for renewable energy over the next 50 years. That’s
potentially a lot of jobs for Americans. Maybe millions. But we’re going to
lose those jobs to China.
We need jobs. We need cheaper energy. But the political will
to make the proper decisions simply isn’t there.
Despite the persistent selling, all indices stayed above
major support levels. For the SPX 1085 has been the number to watch and it
needs to hold once again this week. While the bears are in control of the
momentum, that selling has become overdone. The market is oversold, and the
dollar needs to consolidate. The selling, if any, should be corked near 1060
(on the S&P 500) and rebound sharply back up to current
Jason is also recommending a Chinese alcoholic beverage
stock that recently IPOd on the Nasdaq. Currently trading at $8.50, this
stock put in a strong performance during last week’s declines and looks
poised to move 10% higher in the next few days. Ultimately, Jason says
“The stock is cheap given its earnings history and sales growth