Less than a decade ago, it fired its first human being into orbit. Now, Beijing is working on a multi-capsule outpost in space. But what is the political message of the Tiangong ‘heavenly palace’?
The project, which one NASA adviser describes as a “potent political symbol”, is the latest phase in China’s rapidly developing space programme. It is less than a decade since China put a human into orbit for the first time, and three years since its first spacewalk.
The space station will weigh around 60 tonnes and consist of a core module with two laboratory units for experiments, according to the state news agency, Xinhua.
Officials have asked the public to suggest names and symbols for the unit and for a cargo spacecraft that will serve it.
Professor Jiang Guohua, from the China Astronaut Research and Training Centre, said the facility would be designed to Read more…
QE2 is going to go down as one of the worst monetary policy initiatives in the history of the modern Federal Reserve era. On almost any metric applied, QE2 ends up not only falling well short of its proposed goals, but actually turns certain metrics like GDP growth negative compared with the prior quarter, and heading in the wrong direction.
Costs Eat into Corporate Profits = No Hiring
Analysts all over Wall Street are starting to revise their 2nd quarter GDP forecasts down, and some like Goldman Sachs have made several downward revisions as higher input costs due to a weak dollar are creating an additional burden on businesses and consumers and thus slowing economic growth.
A weak dollar (Fig. 1) to a point can help exports, but an extremely weak dollar which in combination with QE2 liquidity juicing up commodities even further, turns out to be a net negative on the economy, and risks sending the Read more…
A deadly disease to bats could become a major financial headache for agriculture, costing Ohio farmers as much as $1.7 billion a year.
A new study is the first to tie a dollar value to the millions of crop-damaging insects that bats routinely devour each year. Now, the night-flying hunters face the threat of a fungal disease that kills most of the bats it infects.
White-nose syndrome, named for the fungus that spreads over bats while they hibernate, has killed at least 1 million bats in 15 states and Canada since it was discovered in New York in 2006.
On March 30, Ohio officials announced that they found the disease among bats hibernating in an abandoned limestone mine in the Wayne National Forest. They fear it will march through Ohio as it has Read more…
The International Monetary Fund reported without fanfare recently its projection that the candidate who wins the 2012 U.S. presidential election will be the last U.S. President to lead the world’s richest super power.
The IMF prediction is based on its calculation that within the next five years China will surpass the United States as the world’s largest economy.
The IMF forecast differs from that of most traditional forecasts, which put the date China’s economy outstrips the U.S. at least a decade or two into the future. However, those traditional forecasters are looking at value as calculated in currency—and as we at WealthCycles.com have reiterated many times, currency lies.
CAIRO – Archaeologists unearthed one of the largest statues found to date of a powerful ancient Egyptian pharaoh at his mortuary temple in the southern city of Luxor, the country’s antiquities authority announced Tuesday.
The 13 meter (42 foot) tall statue of Amenhotep III was one of a pair that flanked the northern entrance to the grand funerary temple on the west bank of the Nile that is currently the focus of a major excavation.
The statue consists of seven large quartzite blocks and still lacks a head and was actually first discovered in the 1928 and then rehidden, according to the press release from the country’s antiquities authority. Archaeologists expect to find its twin in the next digging season.
Excavation supervisor Abdel-Ghaffar Wagdi said two other statues were also unearthed, one of the god Thoth with a baboon’s head and a six foot (1.85 meter) tall one of the lion-headed goddess Sekhmet.
Archaeologists working on the temple over the past few years have issued a flood of announcements about new discoveries of statues. The 3,400-year-old temple is one of the largest on the west bank of the Nile in Luxor, where the powerful pharaohs of Egypt’s New Kingdom built their tombs.
Amenhotep III, who was the grandfather of the famed boy-pharaoh Tutankhamun, ruled in the 14th century B.C. at the height of Egypt’s New Kingdom and presided over a vast empire stretching from Nubia in the south to Syria in the north.
The pharaoh’s temple was largely destroyed, possibly by floods, and little remains of its walls. It was also devastated by an earthquake in 27 B.C. But archaeologists have been able to unearth a wealth of artifacts and statuary in the buried ruins, including two statues of Amenhotep made of black granite found at the site in March 2009.