XIAM007

Making Unique Observations in a Very Cluttered World

Monday, 17 May 2010

Thousands of bees' swarm White House - army of insects hovered as President Barack Obama tried to play basketball -

Thousands of bees' swarm White House - army of insects hovered as President Barack Obama tried to play basketball -




A swarm of "thousands of bees" gathered outside the White House this morning.
The small army of insects hovered as President Barack Obama tried to leave the White House to play basketball at Fort McNair, according to a pool report.
By the time the president returned at noon, the bees were apparently nowhere in sight.

Friday, 14 May 2010

Former Fed Chairman Paul Volcker said he’s concerned that the Euro area may break up after the Greek fiscal crisis -

Former Fed Chairman Paul Volcker said he’s concerned that the Euro area may break up after the Greek fiscal crisis - 






Former Federal Reserve Chairman Paul Volcker said he’s concerned that the euro area may break up after the Greek fiscal crisis that sparked an unprecedented bailout by the region’s members.
“You have the great problem of a potential disintegration of the euro,” Volcker, 82, said in a speech in London yesterday. “The essential element of discipline in economic policy and in fiscal policy that was hoped for” has “so far not been rewarded in some countries.”
European leaders pledged a rescue package of almost $1 trillion this week to counter a mounting debt crisis and restore confidence in the currency. Former U.S. Treasury Secretary John Snow said this week the euro may need a common fiscal policy to survive, a comment echoed by Norman Lamont, who was U.K. finance minister when Britain opted out from the euro in 1992.
“Will economic and financial distress finally be resolved by looking toward more integration in a closely integrated Europe, politically as well as economically?” said Volcker, who chairs President Barack Obama’s Economic Recovery Advisory Board. “I do have my hopes, as a believer in the euro.”
The aid package also involved the European Central Bank, which intervened in debt markets after a rout in bonds across the euro region’s periphery. The European Commission in Brussels said it would “strengthen” its deficit oversight and “align national budget and policy planning” under a system of economic policy coordination.
Fiscal Union
“For the euro to be able to survive long term, fiscal consolidation of some kind -- tax policy consolidation, fiscal policy consolidation -- is probably necessary,” Snow said. Bank of England Governor Mervyn King also commented on the crisis, saying two days ago that it is “very clear” that the currency region needs a fiscal union “to make the monetary union work.”
Soaring bond yields on concern that Greece’s fiscal crisis would spread threatened to shut Spain and Portugal out of debt markets and sparked a weekend of talks with euro-region finance ministers and central bankers.
While the resulting 750 billion-euro ($940 billion) financial aid package has calmed bond markets, the euro today broke through the 14-month low reached last week before European leaders unveiled the bailout plan. The euro, which dropped as low as $1.2457, traded at $1.2564 at 7:46 a.m. in London.
Greek Doubts
Deutsche Bank AG Chief Executive Officer Josef Ackermann said in an interview with Germany’s ZDF broadcaster aired late yesterday that Greece may not be able to repay its debt in full, arguing it would require “incredible efforts.”
The extra yield that investors demand to hold 10-year Spanish bonds over German bunds, Europe’s benchmark, has narrowed to 99 basis points from 164 basis points on May 7. Spreads on Portuguese debt have fallen by more than half to 163 points. The Greek spread was 442 basis points yesterday after touching 973 points last week.
Volcker expressed hope that the euro will survive. “There is strong opinion to keep it going,” he told journalists after his speech at Mansion House, the residence of the lord mayor of the City, London’s financial district. “That does require, I think, changes in the structure of European economic policy.”
Closer fiscal union is unlikely to be welcomed in some countries. Ireland’s largest opposition political party said this week the commission proposals give the EU a “final veto” over Irish fiscal policy. Prime Minister Brian Cowenrejected the comments and said that there “will never be a threat” to national tax control.
Well Served
Europe has so far been well-served by the euro, Volcker said. “If you didn’t have that common currency in Europe, they would have bigger problems than they have now.”
He declined to elaborate on what European governments should do as he left and walked across the street to visit the Bank of England.
“That is up to European governments,” he said. “The nature of the problem does not lend itself to one-word sound bites.”

Social Security Administration - Top 10 Baby Names, by gender, in 2009 were: Jacob, Isabella, Ethan, Emma, Michael, Olivia... -

Social Security Administration - Top 10 Baby Names, by gender, in 2009 were: Jacob, Isabella, Ethan, Emma, Michael, Olivia... -

Gothic boy Baby Names



The Social Security Administration maintains a list of popular baby names for the years 1880-2009. The top 10 baby names, by gender, in 2009 were:
Rank
Male
Female
 1
Jacob 
Isabella
 2
Ethan
Emma
 3
Michael
Olivia
 4
Alexander
Sophia
 5
 William
Ava
 6
Joshua
Emily
 7
Daniel
Madison
 8
Jayden
Abigail
 9
Noah
Chloe
 10
Anthony
Mia
You may also wish to view the top baby names by state.

Thursday, 13 May 2010

Cougars Die Young, Sugar Daddies Live Longer - having a boy toy husband increases a woman’s chances of an early death -

Cougars Die Young, Sugar Daddies Live Longer - having a boy toy husband increases a woman’s chances of an early death - 






Cougars beware — having a boy toy husband increases a woman’s chances of an early death, according to a German study reported Thursday by the Daily Mail.
And the younger her spouse is, the harder it is on a woman's health, researchers found.
However, the trend is reversed when an older man opts for a younger woman. The more youthful his wife, the longer the husband is expected to live.
The finding will come as a blow to the growing numbers of cougars – defined as middle-aged women who shun older men in search of younger guys.
Celebrity cougars include Demi Moore, 47, who is 15 years older than husband Ashton Kutcher, and "Friends" actress Courteney Cox, who is married to film star David Arquette — seven years her junior.
The trend was identified by an analysis of marriage and death records belonging to almost two million Dutch men and women.
A woman who bags a man seven to nine years younger than her is 20 percent more likely to die than someone married to a man her own age. And when a cougar weds someone more than 15 years younger than her, the risk soars to more than 30 percent.
"The greater the age difference, the lower the wife's life expectancy," Sven Drefahl of the Max Planck Institute for Demographic Research in Germany, said. "The best choice for a woman is to marry a man of exactly the same age."
Drefahl believed that having a relationship with a younger man may mean more stress for women because they are "violating social norms and thus suffer from social sanctions," which could result in a more stressful life, he said.
A "sugar daddy" with a wife seven to nine years his junior is seven percent less likely to die early — probably because she's more likely to nurse him in old age. By contrast, a younger man tends to be less inclined to look after his elderly wife. And cougars are more likely to be seen as predatory — making it less likely for them to maintain friends and dependents, another factor researchers suggested could explain their findings.

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)
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
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 -

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 -

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 -

 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 -

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 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