From the Wall Street Journal….
Pentagon brass, satellite industry executives and NASA leaders for years have publicly expressed concern about the dangers of orbital debris. But the odds of a direct hit between satellites were considered so small as to be basically unthinkable. The ground-based and space-based reconnaissance tools available to the Pentagon generally were considered adequate to keep close track of larger objects.
40% of coma patients in a ‘vegetative state’ may be misdiagnosed, says a new report.
Trapped inside their bodies, apparently switched off to the world, but still alive: they are the undead. Or so we thought. Forty per cent of patients in a ‘vegetative state’ are misdiagnosed. Now British scientists are leading the field in trying to put that right
India’s Hindu nationalist movement is launching a new soft drink made from cow urine.
Edit: The Times has a more detailed description of why they are doing this if you want to know.
China should seek guarantees that its $682 billion holdings of U.S. government debt won’t be eroded by “reckless policies,” said Yu Yongding, a former adviser to the central bank.
The U.S. “should make the Chinese feel confident that the value of the assets at least will not be eroded in a significant way,” Yu, who now heads the World Economics and Politics Institute at the Chinese Academy of Social Sciences, said in response to e-mailed questions yesterday from Beijing. He declined to elaborate on the assurances needed by China, the biggest foreign holder of U.S. government debt.
Benchmark 10-year Treasury yields climbed above 3 percent this week on speculation the government will increase borrowing as President Barack Obama pushes his $838 billion stimulus package through Congress. Premier Wen Jiabao said last month his government’s strategy for investing would focus on safeguarding the value of China’s $1.95 trillion foreign reserves.
You think maybe they are worrying about this?
The Obama Administration laid out plans yesterday to marshal an extraordinary $3 trillion to stabilise America’s stricken banking sector and revive its collapsing economy. US shares dropped sharply despite an unprecedented few hours of emergency government action.
Someone spent way too much time making a different kind of clock. I say this admiringly, as one who tends to get carried away with projects. A better quality video is available on Wired. Below is an embedded clip.
The CIA has already spent 18 months developing a network of agents in Britain to combat al-Qaeda, unprecedented in size within the borders of such a close ally, according to intelligence sources in both London and Washington.
And why are they doing this? From later on in the article….
Jonathan Evans, the director general of MI5, admitted in January that the Security Service alone does not have the resources to maintain surveillance on all its targets. “We don’t have anything approaching comprehensive coverage,” he said.
In other words, America is sending spooks to its historical ally because they can’t handle their own internal threats.
But America is getting crazy enough on its own. From the Common Room….
I just came back from my local thrift store with tears in my eyes! I watched as boxes and boxes of childrens books were thrown into the garbage! Today was the deadline and I just cant believe it! Every book they had on the shelves peior to 1985 was destroyed!
The reason the books are being destroyed is that they can no longer be sold without being tested for lead first because of a law called CPSIA. We already covered this insane law earlier so hopefully you all are familiar with it. If not just go over to the Common Room and you will learn more then you ever wanted to about the law.
And speaking of insane, there is also this from Bloomberg….
Fannie Mae and Freddie Mac, the mortgage-finance companies seized by regulators, may need more than the $200 billion in funding pledged by the U.S. government if the housing market continues to deteriorate, Federal Housing Finance Agency Director James Lockhart said.
The companies’ needs will depend largely on the direction of home prices, Lockhart said in an interview in Las Vegas yesterday. His comments followed statements from Fannie Mae in November and Freddie Mac Chairman John Koskinen last week that the government’s funding commitment through 2009 may fall short of what the companies need to make good on their obligations.
This is hardly surprising and that is what is so insane. Not to long ago, the idea that 200 billion dollars might not be enough would have been front page news. Now it is hardly news worthy.
Kanjorski: “The Treasury opened its window to help. They pumped a hundred and five billion dollars into the system and quickly realized that they could not stem the tide. We were having an electronic run on the banks. They decided to close the operation, close down the money accounts, and announce a guarantee of $250,000 per account so there wouldn’t be further panic and there. And that’s what actually happened. If they had not done that their estimation was that by two o’clock that afternoon, five-and-a-half trillion dollars would have been drawn out of the money market system of the United States, would have collapsed the entire economy of the United States, and within 24 hours the world economy would have collapsed.”
The government it still able to prevent these things from occurring because people still have faith in the Government. What happens when people lose that faith?
Egyptian archaeologists have found about 30 mummies and at least one unopened sarcophagus in a burial chamber about 4,300 years old, the government said in a statement on Monday.
I am slightly amazed whenever I here of finds like this. Egypt has got to be one of the best covered areas of the world archaeologically speaking and yet they are still finding things like this. You would think it would be all played out.
The Chinese stole the design secrets to all — repeat, all — U.S. nuclear weapons, enabling them to leapfrog generations of technology development and put our nuclear arsenal, the country’s last line of defense, at risk. To this day, we don’t know quite when or how they did it, but we do know that Chinese intelligence operatives are still at work, systematically targeting not only America’s defense secrets but our industries’ valuable proprietary information.
The European Central Bank’s refusal to follow the lead of the US, Japan, Britain, Canada, Switzerland and Sweden in slashing rates shows how destructive Europe’s monetary union has become. German orders fells 25pc year-on-year in December. French house prices collapsed 9.9pc in the fourth quarter, the steepest since data began in 1936. “We’re dealing with truly appalling data, the likes of which have never been seen before in post-War Europe,” said Julian Callow, Europe economist at Barclays Capital.
Spain’s unemployment has jumped to 3.3m – or 14.4pc – and will hit 19pc next year, on Brussels data. The labour minister said yesterday that Spain’s economy could not “tolerate” immigrants any longer after suffering “hurricane devastation”. You can see where this is going.
Ireland lost 36,500 jobs in January – equal to a monthly loss of 2.3m in the US. As the budget deficit surges to 12pc of GDP, Dublin is cutting wages, disguised as a pension levy. It has announced “Rooseveltian measures” to rescue the foundering companies.
The ECB’s obduracy has nothing to do with economics. It fears zero rates as a vampire fears daylight, because that brings the purchase of eurozone bonds ever closer into play. Any such action would usher in an EMU “debt union” by the back door, leaving Germany’s taxpayers on the hook for Club Med liabilties. This is Europe’s taboo.
This is why I don’t think the EU will survive the current economic crisis intact. The various economic interests are just too divergent. It is possible that northern Europe will hang together. But there is no way they will be willing to hang with Club Med in the long term.