Spain credit rating down graded--Green energy 'investments' don't help

Solar power plant (Serpa, Portugal)Image via Wikipedia
AP/NY Times:

Moody's downgraded Spain's credit rating on Thursday, citing worries over the cost of the banking sector's restructuring, the government's ability to achieve its borrowing reduction targets and grim economic growth prospects.
...
Spain invested heavily in green energy projects and then subsidized them heavily because they were not efficient enough to compete with conventional energy.  It was a terrible investment that helped to put Spain in a downward spiral that seems to be sucking down the housing sector and the banking sector.  It turned out to also be a jobs killer, destroying over two jobs for every job created.  Scotland has had a similar experience with green jobs.

Despite the evidence of what a poor investment green energy is for government, Obama wants to march the US deeper into this quagmire of debt and inefficiency.

The fact is that when there is a true alternative energy, it will not need a government investment.  Private capital will flow to it.
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