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Thursday, September 20, 2007

The U.S. economy and its currency as an instrument of world trade has suffered a series of major setbacks in recent months. Some analysts say that the Federal Reserve‘s September 18^th dramatic rate cut to 4.75% from 5.25% may be a case of “too little, too late”, or that it was excessive and dooms the dollar.

Today, Saudi officials declined to cut interest rates in lockstep with the US Federal Reserve for the first time in decades. According to Ambrose Evans-Pritchard, International Business Editor for The Daily Telegraph, “it’s a signal that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East.”

Hans Redeker, the Currency Chief at BNP Paribas, also stated today that Saudi Arabia’s move to not adjust their own interest rates in sync with the Fed’s cuts is a very dangerous situation for the US dollar. Redeker points out that “Saudi Arabia has $800bn (£400bn) in their future generation fund, and the entire region has $3,500bn under management. They face an inflationary threat and do not want to import an interest rate policy set for the recessionary conditions in the United States.”

Saudi central bank officials said that “appropriate measures” would be taken to stop the large capital inflows into the country. The Federal Reserve’s half-point rate cut has already caused a plunge in the world dollar index to a fifteen-year low, reaching the weakest level ever against the Euro at just under $1.40.

The Fed hopes that by making it cheaper to borrow, people will start spending and investing more. However, some analysts fear the cut will worsen inflation, making it harder to get personal loans, and further decrease confidence in the dollar around the world. There are already signs that global investors have started rejecting U.S. Treasury securities, and recent U.S. government data on foreign holdings show a decline in purchases of US securities from $97bn to just $19bn in July.

In response to Ben Bernanke‘s statements today about a potential mortgage and housing market crisis, CNN anchor Wolf Blitzer said, “If adjustable mortgage rates go up, people may not be able to afford their mortgage payments.” Former Federal Reserve chief Alan Greenspan said earlier this week that housing prices may fall by “double digits” as the subprime crisis bites harder, prompting households to cut back sharply on spending.

Jim Rogers, the economic commentator and former partner of George Soros, stated, “If Ben Bernanke starts running those printing presses even faster than he’s already doing, we are going to have a serious recession. The dollar’s going to collapse, the bond market’s going to collapse. There’s going to be a lot of problems.”

In recent months, the U.S. dollar has taken several other significant hits including Kuwait’s decision in May to also break its dollar peg, and threats by China to interfere with the U.S. economy, calling it their nation’s “nuclear option”. According to public sources, the Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions that seek to force a Yuan revaluation.

Friday, October 5, 2007

You may not know Joseph Merlino, but he knows about you and what makes you function. He knows what turns you on and he knows whether it is a problem for you. Merlino, who is the psychiatry adviser to the New York Daily News, is one of the more accomplished psychiatrists in his field and he is the Senior Editor of the forthcoming book, Freud at 150: 21st Century Essays on a Man of Genius. The battle over interpreting Freud’s legacy still rages, a testament to the father of psychoanalysis and his continuing impact today.

On the eve of the book’s publication, Wikinews reporter David Shankbone went to the Upper East Side of Manhattan to discuss the past and future of Freud and psychoanalysis with Dr. Merlino, one of the preeminent modern psychoanalysts. Shankbone took the opportunity to ask about what insanity is, discuss aberrant urges, reflect upon sadomasochism (“I’m not considered an expert in that field,” laughed Dr. Merlino), and the hegemony of heterosexuality.

Dr. Merlino posits that absent structural, biochemical or physiological defects, insanity and pathology are relative and in flux with the changing culture of which you are a part. So it is possible to be sane and insane all in one day if, for instance, you are gay and fly from the United Kingdom to Saudi Arabia.

Wednesday, April 1, 2009

While hybrid vehicles have found considerable popularity in the United States since their introduction, one difficulty associated with the rollout of a fully electric car has been the comparably high price and poor performance, compared to an internal combustion engine-driven car of similar size. Tesla Motors claims that their Model S, a sedan which runs solely on electricity, will be more affordable.

Tesla first entered the automobile market in 2006, with a prototype of an electric vehicle designed on the roadster style. While the car, whose exterior design was based on the Lotus Elise, accelerated well and had considerable range, its cost of US$109,000 was prohibitive for many and to date only 300 have been sold, with a thousand more ordered.

Tesla says, however, that the Model S could sell for around $56,400, with the actual price some $7,500 lower after a Federal Government tax credit on electric vehicles.

Tesla claims the Model S has a range of up to 450 kilometers (280 miles) without recharging and can reach a top speed of 200 km/h (125 mph). It is powered by a 454 kg (1001 lb) battery pack.

Initial plans were to build the car in New Mexico, but instead the Model S will be built near the company’s headquarters in San Jose, California.

Sunday, September 21, 2008

Up-and-coming WWE star Vladimir Kozlov came to Nashville, TN on Tuesday night with an agenda. “I want better competition,” the former sambo champion from Ukrane said last week. “If you will not give it to me, then I will find it myself.”

Kozolv has done just that, and he started his quest by attacking the top contender for the WWE Championship, Jeff Hardy, at the end his match last week. Hardy would again be the target for Kozlov’s frustrations, but he would not be alone. Hardy had just won a hard-fought match against Brian Kendrick, as he was walking up the stage, he turned around to wave to the fans. As Hardy turned around to go backstage, he was surprised by Kozlov with a stiff kick to the chest. The blow left Hardy on the stage, gasping for breath, he would be carried away by medical staff during a commercial break.

Later in the evening, it would be WWE Champion Triple H who would become the new target. After Triple H defeated Montel Vontavious Porter in the main event match, Vladimir Kozlov would ambush the champion as he was celebrating in the ring. Triple H, no stranger to being attacked unprepared, quickly retaliated and appeared to have the rookie handled. Kozlov was able to hold his own, and brought down the champion with a vicious head butt. As Triple H laid on the mat knocked out, Kozlov mouthed the words, “The end is near for you.”

Vladimir Kozlov received word shortly before this second attack that his wish for tougher competition would be answered. If he wants a shot at the WWE Champion, he will have to first go through another former champion, the 7’3″ Great Khali.

In other events, the reigning WWE Tag Team Champions were also looking for competition. Curt Hawkins and Zach Ryder made an impromptu appearance during Carlito’s Cabana as host Carlito Colon was introducing the fans to his younger brother, WWE newcomer Primo Colon. The brothers from Puerto Rico had won their first match as a tag team last week. Hawkins and Ryder came down to the ring and picked a fight with the Colon brothers, challenging them to a match next week. It appeared that the tag team champions were leaving the ring, but when the Colon brothers turned their backs to leave as well, they were attacked by Hawkins and Ryder. Jesse and Festus Dalton came down to the ring to break the scuffle up.

Full match results for the evening:

• WWE Diva’s Champion Michelle McCool d. Maryse Oulete by pinfall to retain the title;
• R-Truth d. WWE United States Champion Shelton Benjamin by pinfall in a non-title match;
• Jeff Hardy d. Brian Kendrick by pinfall;
• Ryan Braddock d. Festus Dalton by disqualification;
• The Great Khali d. Scotty Goldman by pinfall;
• WWE Champion Triple H d. Montel Vontavious Porter by pinfall in a non-title match.

A compilation of brief news reports for Monday, April 9, 2007.

The New Zealand Police has reported that a three-year-old boy choked to death on Saturday afternoon, due to what they believe was a piece of candy at his birthday party.

The parents did call New Zealand’s emergency number, 1-1-1, after their son alerted his parents to the fact that he was choking. The paramedics were unable to revive the Napier boy when they arrived at the scene.

The case has been referred to a coroner.

Sources

• Nzpa. “Three year old dies after choking on candy” — Fairfax New Zealand, April 9, 2007
• “Three-year-old birthday boy chokes to death” — New Zealand Herald, April 9, 2007

Relatively unknown golfer Zach Johnson won the 71st Masters Tournament in Augusta, Georgia. Johnson shot 3-under-par 69 in Sunday’s fourth round, to win by 2 strokes over Tiger Woods, Retief Goosen, and Rory Sabbattini.

Johnson won a purse worth US$1,305,000 and a lifetime qualification to the Masters Tournament, held annually at the Augusta National Golf Club.

Sources

• Press Release: Vartan Kupelian. “Johnson Proves His Mettle In Masters Victory” — The Masters Tournament, April 9, 2007
• Gene Wojciechowski. “Johnson beats Tiger at his own game” — ESPN.com, April 9, 2007
• “A strange week ends with a green jacket for Johnson” — CBS Sportsline, April 8, 2007

A couple living in New York City have decided to take a taxi all the way to Arizona. Betty and Bob Matas are retiring and leaving the city for good. What started as joke, has become reality, in part to spare their cats from traveling in a jetliner cargo-hold. They have negotiated a US$3,000 flat fee instead of the metered rate, which was estimated at US$5,000.

Sources

• “New York couple taking cab to Arizona retirement” — CNN, April 8, 2007
• “New York City Couple Hails Cab to Arizona” — Fox News, April 8, 2007

A vocational nurse working for Dr. John Capriotti, a plastic surgeon, was accused of setting the fire that wounded several and killed three people in Houston, Texas on March 28. She was allegedly trying to cover up the fact that she hadn’t completed the paperwork for an upcoming audit.

The fire began in Dr. Capriotti’s office on the fifth floor and quickly spread to the sixth. Arson investigators from the Houston Fire Department, the FBI and the Federal Bureau of Alcohol, Tobacco, Firearms and Explosives had been working to determine the source of the fire.

Sources

• Anne Marie Kilday. “Bond set at $330,000 for nurse in fatal fire” — Houston Chronicle, April 8, 2007
• Associated Press. “Woman afraid of losing job confesses to fatal fire” — The Dallas Morning News, April 8, 2007
• Kimberly Pina. “Area fire departments evaluate high-rise strategy” — Houston Chronicle, April 6, 2007
• Joe Stinebaker. “3 dead in Houston office building fire” — Lexington Herald-Leader, March 29, 2007

Iran announced that it has started industrial scale production of nuclear fuel involving hundreds of centrifuges. The announcement comes as President Mahmoud Ahmadinejad reasserts his nation’s nuclear rights in the face of two rounds of sanctions by the UN Security Council, which is seeking a halt to such work.

The United States denounced the declaration, saying it showed Iran was defying the international community.

Sources

• Parisa Hafezi. “Iran announces “industrial” nuclear fuel work” — Reuters, April 9, 2007
• Marc Wolfensberger and Patrick Donahue. “Iran Says Nuclear Enrichment Reaches Industrial Scale” — Bloomberg L.P., April 9, 2007
• “President: Iran to generate nuclear power on schedule” — Islamic Republic News Agency, April 9, 2007

Monday, March 20, 2006

Fears of contaminated bone and skin grafts are being felt by unsuspecting patients following the revelation that funeral homes may have been looting corpses.

Janet Evans of Marion Ohio was told by her surgeon, “The bone grafts you got might have been contaminated”. She reacted with shock, “I was flabbergasted because I didn’t even know what he was talking about. I didn’t know I got a bone graft until I got this call. I just thought they put in screws and rods.”

The body of Alistair Cooke, the former host of “Masterpiece Theatre,” was supposedly looted along with more than 1,000 others, according to two law enforcement officials close to the case. The tissue taken was typically skin, bone and tendon, which was then sold for use in procedures such as dental implants and hip replacements. According to authorities, millions of dollars were made by selling the body parts to companies for use in operations done at hospitals and clinics in the United States and Canada.

A New Jersey company, Biomedical Tissue Services, has reportedly been taking body parts from funeral homes across Brooklyn, New York. According to ABC News, they set up rooms like a “surgical suite.” After they took the bones, they replaced them with PVC pipe. This was purportedly done by stealth, without approval of the deceased person or the next of kin. 1,077 bodies were involved, say prosecuters.

Investagators say a former dentist, Michael Mastromarino, is behind the operation. Biomedical was considered one of the “hottest procurement companies in the country,” raking in close to $5 million. Eventually, people became worried: “Can the donors be trusted?” A tissue processing company called LifeCell answered no, and issued a recall on all their tissue.

Cooke’s daughter, Susan Cooke Kittredge, said, “To know his bones were sold was one thing, but to see him standing truncated before me is another entirely.” Now thousands of people around the country are receiving letters warning that they should be tested for infectious diseases like HIV or hepatitis. On February 23, the Brooklyn District Attorney indicted Mastromarino and three others. They are charged with 122 felony counts, including forgery and bodysnatching.

Thursday, November 29, 2007

President Pervez Musharraf of Pakistan gave up his uniform in a ceremony yesterday in Rawalpindi. He handed power over to General Ashfaq Parvez Kayani at the headquarters of the Pakistani Army, after being the leader of the army for nine years.

In his final address as leader of the army, he said that the army was the saviour of Pakistan and that the army was his life. He also expressed his pride in being the leader of what he called a “great force.”

Musharraf had been under a lot of pressure to quit as army chief, since the country was put into the spotlight as a result of a state of emergency being declared. He is expected to be sworn in as the civilian president of Pakistan on Thursday.

Both the opposition leader, Benazir Bhutto, and the US secretary of state, Condoleezza Rice, welcomed the change of duties. However, Bhutto indicated her party may not be prepared to accept Musharraf in his new non-military leadership role. Condoleezza Rice requested the state of emergency be lifted before the planned elections, which are due to take place in January.

Musharraf said General Kayani was “an excellent soldier” and that “the armed forces under his command will achieve great heights.”

General Kayani was named as the successor to Musharraf in October, before the state of emergency was declared in early November.