By Nick Rizzo
December 10, 2011

Europe’s banks need to raise an extra $153 billion — Bloomberg

Warren Buffett is buying a $2 billion solar plant in California — Businessweek

While George Soros bought the same amount in MF Global’s European bonds — WSJ (paywall)

NPR couldn’t find a millionaire who thinks the “millionaire’s surtax” affects hiring — NPR

AOL might be clipping Patch — AdAge

And Norway faces a massive butter shortage — Vancouver Sun/Reuters


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Norway providing a helpful reminder of the benefits of free trade in goods, without it heavily subsidized dairy producers can actually run out of butter. well played, Norway

Posted by johnhhaskell | Report as abusive

Norway has a goal of having a farm sector. The reason is to protect the landscape, but also as a security measure in case of a major catastrophe. The current financial crisis should be a reminder that Black Swans happen, and the hunt for maximum efficiency decreases the ability to deal with unexpected situations.

A bad summer created the butter shortage, and even a private market would be unable to suddenly create more cows to produce more milk. And in a totally free market, little mountainous Norway would be immediately out-competed. There would be NO butter produced in the country.

Butter is being imported to Norway right now, but it is difficult because there is a lack of butter in the rest of Europe too.

Posted by PetterHP | Report as abusive