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Second U.S. recession could be worse than the first

August 9, 2011 1 comment

rawstory

A second recession, what many are calling the double-dip recession, could be on its way, economists warn. And should it come, it will probably be even more devastating than the previous period of economic woe.

“It would be disastrous if we entered into a recession at this stage, given that we haven’t yet made up for the last recession,” Conrad DeQuadros, senior economist at RDQ Economics, told the New York Times.

The Standard and Poor’s downgrade of the U.S.’s credit rating bodes ill for the world’s financial markets as well as the domestic market.

President Barack Obama, once the debt deal with Congress to avoid a debt default was struck, announced a pivot to focus on jobs.

“I’ll continue also to fight for what the American people care most about: new jobs, higher wages and faster economic growth,” Obama said in a statement to press after the debt deal was passed last week.

While the working age population has grown 3 percent in the past four years, the economy has 5 percent fewer jobs — or 6.8 million less than four years ago. Unemployment stands at 9.1 percent.

Economists don’t think another stimulus package will do the trick, either.

“There are only so many times the Fed can pull this same rabbit out of its hat,” Torsten Slok, the chief international economist at Deutsche Bank, told the Times.

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London Riots: Government Prepares Troops – Martial Law Imminent. – 9th August 2011

August 9, 2011 1 comment

defend.ht

LONDON, United Kingdon – Martial law seems imminent as 16,000 police officers, nearly twice the police officers in Haiti, will take to the streets in the captial city of London to hopefully prevent a fourth night of manifestations, rioting and looting.

UK’s Prime Minister David Cameron pledged to restore order, meeting with Parliament on Thursday in response to what he describes as “sickening scenes”. Metropolitcan Police, which has already drafted in support from 30 other forces, says it will consider using plastic bullets. Deputy Assistant Commissioner Stephen Kavanagh said use of the ammunition – never before Read more…

Minotaur rocket to carry military weapon

August 9, 2011 Comments off

lompocrecord

More than 15 months after the first one failed, the Defense Department plans a second test of its super-fast weapon that will ride in a rocket scheduled to launch Wednesday morning from Vandenberg Air Force Base.

The Minotaur 4 Lite rocket, assembled by Orbital Sciences Corp. crews from retired Peacekeeper missile stages, is scheduled to blast off between 7 a.m. and 1 p.m. Wednesday from Space Launch Complex-8 on South Base.

The rocket will carry the Falcon Hypersonic Test Vehicle or HTV-2 for the Defense Advanced Research Project Agency’s Tactical Projects Office.

Weather for Wednesday morning remains suitable for blastoff, but not necessarily viewing. Launch weather officers say the marine layer and fog will be prevalent at the start of the window, but begin breaking up later in the morning. Visibility is expected to be one mile with mist falling.

Space weather could Read more…

MAJOR SOLAR FLARE: August 9th, 2011.

August 9, 2011 Comments off

theweatherspace

This morning at 0805 UT, sunspot 1263 produced a powerful X7-class solar flare. NASA’s Solar Dynamics Observatory captured the explosion’s extreme ultraviolet flash.

The solar flare was not Earth directed but a minor proton storm is in progress around our planet, which could affect satellites.

Radiation from the flare also briefly disrupted communications on some VLF and HF radio frequencies.

We may get a glancing blow from the flare. Read more…

Several Objects Inbound with Elenin. 2 Observatories Confirm —- Aug 2011

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Japan tsunami broke huge icebergs off Antarctica

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thewatchers

The massive March 11 Japan earthquake and its ensuing tsunami were so powerful that they broke off huge icebergs thousands of miles away in Antarctica, according to a new study.

The calving of icebergs (where a huge chunk of ice breaks off from a glacier or ice shelf) from the Sulzberger Ice Shelf in Antarctica was linked to the tsunami, which originated with the magnitude 9.0 earthquake off the coast of the Japanese island of Honshu, by satellite observations of the Antarctic coast immediately after the earthquake.

Icebergs have been reported to calve following earthquakes before, including after the magnitude 6.3 earthquake that struck Christchurch, New Zealand, on Feb 22. But the new finding marks the first direct observation of such a connection between tsunamis and iceberg calving.

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Chemical spill fear after dike breached

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chinadaily

Chemical spill fear after dike breached

Huge waves pound the coast of Yantai city, Shandong province, on Monday. [Photo / Xinhua]

Authorities say situation under control as sea defenses rebuilt

DALIAN, Liaoning – Towering waves whipped up by tropical storm Muifa breached sea defenses protecting a petrochemical plant near a northeastern coastal city on Monday, raising fears of a toxic spill, before the breaches were plugged with thousands of tons of rocks and concrete slabs.

At about 3:30 am, two sections of a dike, each at least 30 meters wide, were breached by waves up to 20 meters high at the Jinzhou Industrial Zone in Dalian city, Liaoning province, according to local authorities.

The breaches threatened toxic chemical tanks at the petrochemical plant, located about 30 kilometers from downtown Dalian.

The nearest tanks were located about 50 meters away from the dike.

As of Monday evening, authorities had yet to confirm or deny if leaks had occurred in any of the tanks.

The Fujia chemical plant produces Read more…