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Archive for February 23, 2011

Detroit Schools’ Cuts Plan Approved

February 23, 2011 Comments off

By MATTHEW DOLAN

The state of Michigan approved a plan for Detroit to close about half of its public schools and increase the average size of high-school classrooms to 60 students over the next four years to eliminate a $327 million deficit.

The plan was submitted in January by Robert Bobb, Detroit Public Schools’ emergency financial manager, as a last-ditch scenario if the district couldn’t find new revenue sources, which it hasn’t so far. Final approval came after Mike Flanagan, the state superintendent of public instruction, cleared Mr. Bobb’s initial plan with some new requirements, including that the district not file for bankruptcy protection during Mr. Bobb’s remaining months in office.

The state approved the plan in a Feb. 8 letter, which the Detroit public-schools district released Monday.

Mr. Bobb said the deep cuts were Read more…

Silver To $52-$56 By May-June A Fractal Analysis Suggests

February 23, 2011 Comments off

news.silverseek.com

By: Goldrunner (with Lorimer Wilson)

Dollar Inflation remains the driver of the pricing environment for almost everything denominated in U.S. Dollars as long as the Fed continues to monetize debt.  The debt monetization creates Dollar Inflation that results in Dollar Devaluation.  As the Fed ramps up the QE II that they have announced will end in June, I expect Gold, Silver, and the PM stocks to aggressively rise.

In previous articles I have shown that fractal analysis suggests that:

  • · Gold could reach $1860 into the May/ June period based on the late 70’s Fractal. I have also shown the potential for Gold to rise even higher if the market psychology is volatile enough – up to $1975, or even up to $ 2250.
  • · The HUI at from HUI 940 to 970 by mid-June is a distinct possibility and we will discuss the fractal considerations for the PM stock indices further in the next editorial.
  • · Silver could reach $52 – $56 into May – June of 2011 as explained in Read more…

Zardari to seek nuclear technology cooperation with Japan

February 23, 2011 Comments off

www.dawn.com

Pakistani President Asif Ali Zardari arrives at the Tokyo International Airport on February 21, 2011. Zardari is here on a three-day visit to Tokyo. – Photo by AFP

TOKYO: President Asif Ali Zardari said Monday that since Japan was negotiating a deal with India to cooperate on peaceful uses of nuclear energy, the similar cooperation should be extended to his country.

“If Japan is willing to cooperate with India in nuclear technology and (is) giving nuclear technology for peaceful purposes, I do not see any reason why we should not deserve the same,” Zardari said in an interview with the Japanese media in Islamabad ahead of his departure for a three-day visit to Japan, published in leading Read more…

Earthquake Shakes Up Suez Canal as Iran Warships Approach

February 23, 2011 Comments off

www.israelnationalnews.com

Tzvi Ben Gedalyahu

An earthquake measuring 5.9 on the Richter scale shook up residents at the entrance to the Suez Canal early Monday morning, 48 hours before two Iranian ships, a frigate and a supply vessel, are expected to enter the canal.

The National Institute for Astronomical and Geophysical Research reported that tremors from the 3 a.m. quake lasted for 27 minutes, but caused no damage.

The ships had originally been expected to enter the Suez today (Monday), but Egyptian officials announced the delay this morning, without explanation.

Iran inexplicably announced Sunday morning that two of its warships had crossed the Suez, a report that was thoroughly denied by Egyptian authorities. Iranian media did not mention the ships on Monday, and the false report may have been Read more…

Nearly 400 dead, missing in New Zealand quake

February 23, 2011 Comments off

CHRISTCHURCH, New Zealand – New Zealand declared a national state of emergency Wednesday after one of its worst earthquake disasters left nearly 400 people dead or missing.

Rescuers worked frantically to reach survivors under collapsed buildings in the stricken city centre of Christchurch, after recovering 75 bodies. About 300 people are still missing after Tuesday’s 6.3-magnitude quake.

“New Zealanders have woken to a tragedy unfolding in the great city of Christchurch,” said Prime Minister John Key, declaring the national emergency.

“The earthquake that struck the Canterbury region at ten to one yesterday has wreaked death and destruction on a dreadful scale.”

New Zealand’s second city was a scene of “incredible carnage”, police said.

Rescuers had to amputate limbs from Read more…