XIAM007 - Making Unique Observations in a Very Cluttered World

Wednesday, 12 May 2010

Jupiter loses one of its stripes and scientists are stumped as to why - went behind the Sun - when it emerged belt gone -

Jupiter loses one of its stripes and scientists are stumped as to why - went behind the Sun - when it emerged belt gone -

Jupiter has lost one of its iconic red stripes and scientists are baffled as to why.
The largest planet in our solar system is usually dominated by two dark bands in its atmosphere, with one in the northern hemisphere and one in the southern hemisphere.
However, the most recent images taken by amateur astronomers have revealed the lower stripe known as the Southern Equatorial Belt has disappeared leaving the southern half of the planet looking unusually bare.

The band was present in at the end of last year before Jupiter ducked behind the Sun on its orbit. However, when it emerged three months later the belt had disappeared.

Jupiter was pictured this month (left) looking unusually bare, compared to July 2009 (right). It has lost its dark red Southern Equatorial Belt although scientists are unclear as to why. The pictures have different tones because they were snapped a year apart.

Journalist and amateur astronomer Bob King, also known as Astro_Bob, was one of the first to note the strange phenomenon.
He said: 'Jupiter with only one belt is almost like seeing Saturn when its rings are edge-on and invisible for a time - it just doesn't look right.'
It is not the first time this unusual phenomenon has been noticed. Jupiter loses or regains one of its belts every ten of 15 years, although exactly why this happens is a mystery.

Jupiter has a complex belt system

The planet is a giant ball of gas and liquid around 500million miles from the Sun. It's surface is composed of dense red, brown, yellow, and white clouds arranged in light-coloured areas called zones and darker regions called belts.
These clouds are created by chemicals that have formed at different heights. The highest white clouds in the zones are made of crystals of frozen ammonia. Darker, lower clouds are created from chemicals including sulphur and phosphorus. The clouds are blown into bands by 350mph winds caused by Jupiter's rapid rotation.
Noted Jupiter watcher Anthony Wesley, who spotted an impact spot on its surface last year, has tracked the disappearing belt from his back garden in Australia.
'It was obvious last year that it was fading. It was closely observed by anyone watching Jupiter,' he told The Planetary Society.
'There was a big rush on to find out what had changed once it came back into view.'
Mr Wesley said while it was a mystery as to what had caused the belt to fade, the most likely explanation was that it was linked to storm activity that preceded the change.
'The question now is when will the South Equatorial belt erupt back into activity and reappear?' Mr Wesley said.
The pattern for this happening is when a brilliant white spot forms in the southern zone. Gradually it will start to spout dark blobs of material which will be stretched by Jupiter's fierce winds into a new belt, and the planet will return to its familiar 'tyre track' appearance.
Jupiter will be closest to Earth on September 24, offering stargazers their best chance of seeing it without its stripe

Read more -http://www.dailymail.co.uk/sciencetech/article-1277734/Jupiter-loses-stripes-scientists-idea-why.html#

Monday, 10 May 2010

Ron Paul: Euro Bailout Will Lead To Currency Collapse - from constant monetization of debt and taxpayer-funded bailouts -

As Europe is bailed out to the tune of nearly $1 trillion dollars, Congressman Ron Paul warns that the constant monetization of debt, allied with taxpayer-funded bailouts, will inevitably lead to runaway inflation and the collapse of paper currencies.

Under the terms of the Federal Reserve’s credit swap deal with the EU – in addition to an additional IMF bailout of which U.S. taxpayers will be picking up 20 per cent ($57 billion dollars) of the tab, Paul pointed out that not just taxpayers but “anybody that buys anything” will be funding the European bailout because of the attendant inflationary consequences.

“The prices are going up already, producer prices are going up, the cost of living will go up so everyone in American will suffer and eventually the whole world will suffer because we cannot carry the whole world with our dollar,” Paul told Fox Business, adding that eventually people will lose confidence in the dollar.

The Congressman agreed with the host that the bailouts would lead to the crash of paper currencies, noting that last week’s stock market turmoil was accompanied by gold acting as a currency rather than just reacting to the value of the dollar.

“Gold has been money for 6,000 years and it will remain that way and it will rule the roost,” said Paul, adding that the dollar was weak in comparison with the strength of gold.

“All paper currencies are under attack and this cannot be sustained,” said the Congressman.

Paul then explained how the ECB has completely reversed its promise that it wouldn’t monetize debt and how Bernanke had also gone back on his word that U.S. dollars would be use for this purpose. “When I talked to Bernanke last time in the Committee he said they had no intention of bailing out Greece but they are, through the IMF as well as opening up these swap lines to all the central banks, so it is on the shoulders on the burden of the American taxpayer and our dollar so all we’re doing is perpetuating a very very bad system and this is not a solution at all,” he said.

Paul agreed with the host that the bailout was merely a stunt to buy time while failing to address the underlying problem of European socialism and the entitlement culture, which is fast running out of money with which to keep itself ticking over.

Sunday, 9 May 2010

Moody's Says It Received Wells Notice From SEC - facing an enforcement action for its role in the financial crisis -

One of the nation's largest credit rating agencies—which has come under fire for its role in the financial crisis—says it is facing an enforcement action by the Securities and Exchange Commission.

Moody's Investors Service, one of only 10 so-called "Nationally Recognized Statistical Rating Organizations" or NRSRO's, disclosed in a quarterly SEC filing Friday night that the SEC is considering instituting "cease and desist" proceedings in connection with the firm's initial 2007 application for NRSRO status. The filing does not say what the consequences of such an action would be, but the NRSRO designation is crucial.

The NRSROs, which include Moody's [MCO 23.36

-0.18 (-0.76%)

], Standard and Poor's and Fitch among others, have been criticized for their overly positive ratings on what turned out to be toxic mortgage-backed securities during the housing boom.

In its filing, Moody's says it received a so-called Wells Notice from the SEC on March 18, saying the SEC staff is considering recommending "administrative cease-and-desist proceedings" against the firm in connection with its initial 2007 application for NRSRO status.

At issue, according to the Moody's filing, is the company's determination in 2007 that members of one of its European rating committees "engaged in conduct contrary to Moody's Code of Professional Conduct."

The filing does not say what the committee members did, but says the SEC believes the fact that the employees engaged in it is proof Moody's NRSRO application is false and misleading.

In its filing, Moody's says it disagrees with the SEC's position, and says the application was accurate. And, the filing says, Moody's believes the enforcement action is unwarranted.

White House's says there is no evidence that a cyber attack was behind the chaos that shook Wall Street last Thursday -

The White House's homeland security and counterterrorism adviser says there is no evidence that a cyber attack was behind the chaos that shook Wall Street last Thursday.

John Brennan told "Fox News Sunday" that they have uncovered no links to cyber attacks in examining the causes of the turbulence that sent Dow Jones industrials plunging almost 1,000 points before staging a partial recovery at the end of the day.
The market was already weak because of the Greek financial crisis. Beyond that, there was speculation that a typographical error might have triggered the massive computerized sell-off.

Read more -http://www.washingtonpost.com/wp-dyn/content/article/2010/05/09/AR2010050901238.html

Agriculture Department said 39.68 million people, or 1 in 8 Americans, were enrolled for food stamps during February -

Nearly 40 million Americans received food stamps -- the latest in an ever-higher string of record enrollment that dates from December 2008 and the U.S. recession, according to a government update.

Food stamps are the primary federal anti-hunger program, helping poor people buy food. Enrollment is highest during times of economic distress. The jobless rate was 9.9 percent, the government said on Friday.

The Agriculture Department said 39.68 million people, or 1 in 8 Americans, were enrolled for food stamps during February, an increase of 260,000 from January. USDA updated its figures on Wednesday.

"This is the highest share of the U.S. population on SNAP/food stamps," said the anti-hunger group Food Research and Action Center, using the new name for food stamps, Supplemental Nutrition Assistance Program (SNAP). "Research suggests that one in three eligible people are not receiving ... benefits."

Enrollment has set a record each month since reaching 31.78 million in December 2008. USDA estimates enrollment will average 40.5 million people this fiscal year, which ends Sept 30, at a cost of up to $59 billion. For fiscal 2011, average enrollment is forecast for 43.3 million people.

CME Issues Press Release, Confirms No Fat Finger - for a more than 900 point drop in the Dow on Thursday -

CME Group has issued a statement following rumors that erroneous or irregular trades by Citigroup Global Markets Inc may have been the cause for a more than 900 point drop in the Dow Jones Industrial Average during mid-day trading on Thursday:

“While our policy is not to comment on individual participation in our markets, in light of volatile market conditions, CME Group confirmed that activity by Citigroup Global Markets Inc. in CME Group stock index futures markets does not appear to be irregular or unusual in light of market activity today.”

"CME Group markets functioned properly yesterday despite significant market activity due to global macroeconomic conditions and apparent problems that resulted in the cancellation or 'busting' of securities transactions by The NASDAQ Stock Market and the NYSE Arca in coordination with all other UTP Exchanges.
Upon review of yesterday's trading activity in CME Group markets, we have concluded that we did not experience technology or systems issues associated with trading activity between 1:00 and 2:00 p.m. CST. Additionally, it does not appear that CME Group clearing firms or customers experienced any significant technological failures or trading errors during this timeframe.
Finally, CME Clearing participants have not experienced any difficulties as a result of market events yesterday and all clearing members remain in good standing having met all financial obligations to the CME Clearing House.
CME Group continues to actively monitor market participants' trading and clearing activity on the CME Group exchanges and to share information with our regulator, the Commodity Futures Trading Commission - which, in turn coordinates with other Federal agencies.
CME Group has developed and maintains industry-leading trading, credit and risk monitoring controls on the CME Globex platform. For more information on these controls please visit here:http://www.cmegroup.com/market-regulation/rulebook/index.html."
As the world's leading and most diverse derivatives marketplace, CME Group (www.cmegroup.com) is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through its CME Globex electronic trading platform and its trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort. These products and services ensure that businesses everywhere can substantially mitigate counterparty credit risk in both listed and over-the-counter derivatives markets.
The Globe logo, CME, Chicago Mercantile Exchange, CME Group, Globex, E-mini and CME ClearPort are trademarks of Chicago Mercantile Exchange Inc. CBOT and Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. NYMEX and New York Mercantile Exchange are trademarks of New York Mercantile Exchange, Inc. COMEX is a trademark of Commodity Exchange, Inc. All other trademarks are the property of their respective owners. Further information about CME Group (NASDAQ: CME) and its products can be found at www.cmegroup.com.
CME-G
SOURCE CME Group

Friday, 7 May 2010

First Underwater Footage: Gulf of Mexico Oil Spill at Source - BP has released footage of their ROV capping 1 of 3 leaks -

BP (NYSE:BP) has released footage of their remote operating vehicle (ROV) successfully capping one of the three leaks that is pouring an estimated 5,000 barrels of oil a day into the waters off the Gulf of Mexico.

This is the first video I've seen of the oil leak itself . The sheer volume of oil gushing out is quite incredible - you can see it at about the 2 minute 15 second mark of the video.

OOops....PR Disaster: 2011 Volvo S60 Crashes during Crash Avoidance Demonstration -

The Swedish car maker, now controlled by the Chinese firm Geely, wanted to show journalists how the 2011 S60 sedan's new 'Collision Warning with Auto Brake' system works in action, so they catapulted a test car out of a tunnel at around 35km/h towards a parked truck.

Volvo says this about the system: "Volvo's new Collision Warning with Auto Brake automatically brakes the car if there is an imminent risk of a collision with a moving or stationary vehicle. The system starts by alerting the driver and preparing the braking system for emergency braking. If the driver does not respond despite the warning, the brakes are applied automatically."

Massive Alberta beaver dam visible from space - stretches about 850 metres, more than eight football fields long

Massive Alberta beaver dam visible from space - stretches about 850 metres, more than eight football fields long

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International media are getting into a furry flurry over a beaver dam in remote Alberta that’s so massive, it can be seen from space.

Ottawa ecologist Jean Thie located the dam using NASA and Google satellite technology in October 2007, posting it online, but only recently has it grabbed the world’s attention.

The dam is situated in northern Alberta’s Wood Buffalo National Park and stretches about 850 metres, more than eight football fields long.

Thie has told reporters the beavers who laid the foundation for the dam likely got busy building in the mid-1970s.

Alerted to global media’s beaver fever, a park spokesman had rangers fly over the area to investigate because the area isn’t accessible by any roads or streams.

The dam is now being pegged as the largest known habitat of its kind on earth, beating a 652-metre structure in Three Forks, Montana.

Thursday, 6 May 2010

Too Big to Fail? - Freddie Mac asked for an additional 10.6 billion dollars from the Treasury Department to cover losses -

WASHINGTON (AFP) - – Troubled US government-backed mortgage firm Freddie Mac on Wednesday asked for an additional 10.6 billion dollars from the Treasury Department to cover losses.

Announcing a 6.7 billion dollar loss in the first quarter, Freddie Mac said it would need the new funding by June 30 this year.

The Washington-area company has already received more than 50 billion dollars in taxpayers cash to cover losses from toxic assets.

It warned that further demands would be on the way: "Freddie Mac expects to request additional draws," the firm said in a statement.

"The size and timing of such draws will be determined by a variety of factors that could adversely affect the company's net worth."

In 2008, the government pledged to ensure that Freddie Mac, and its larger sister organization Fannie Mae, kept a "positive net worth."

The deal was designed to prop up the vital US housing market from collapsing totally and pushing the economy over the precipice.

But in a sign that the US housing sector is still in difficulty, Freddie said the percentage of its loans not paid on time or in full rose to 4.13 percent in the first three months of the year.

In the final three months of last year the rate stood at 3.98 percent.

The future of Fannie and Freddie has become the latest bone of contention between Democrats who argue they must remain government-backed to aid low-income housing and Republicans who advocate their privatization.

In March, Treasury Secretary Timothy Geithner swatted aside pressure for a swift reform of the mortgage giants as data pointed to a still struggling real estate market.

Geithner told Congress any restructuring of Fannie Mae and Freddie Mac, which received a 100-billion-dollar-plus government bailout at the height of the housing crisis, "must be done as part of a reform of the wider housing finance system."

Geithner argued reforms would "take several months" to develop and should only be "enacted and executed at a time of greater market stability."