Posts Tagged ‘this’

Is this the end of the road for America ?

By Ambrose Evans-Pilchard, International Business Editor
Published: 8:52PM BST 15 Jul 2010 for UK-Telegraph
C/P
The euro rocketed to a two-month high of $1.29 and sterling jumped two cents to almost $1.54 after the Fed confessed that the US economy may not recover for five or six years. Far from winding down emergency stimulus, the bank may need a fresh blast of bond purchases or quantitative easing.

Usually the dollar serves as a safe haven whenever the world takes fright, and there was plenty of sobering news from China and other quarters on Thursday. Not this time. The US itself has become the problem.
“The worm is turning,” said David Bloom, currency chief at HSBC. “We’re in a world of rotating sovereign crises. The market seems to become obsessed with one idea at a time, then violently swings towards another. People thought the euro would break-up. Now we’re moving into a new phase because we’re hearing alarm bells of a US double dip.”

Mr Bloom said a deep change is under way in investor psychology as funds and central banks respond to the blizzard of shocking US data and again focus on the fragility of an economy where public debt is surging towards 100pc of GDP, not helped by the malaise enveloping the Obama White House. “The Europeans have aired their dirty debt in public and taken some measures to address it, whilst the US has not,” he said.

The Fed minutes warned of “significant downside risks” and a possible slide into deflation, an admission that zero interest rates, $1.75 trillion of QE, and a fiscal deficit above 10pc of GDP have so far failed to lift the economy out of a structural slump.

“The Committee would need to consider whether further policy stimulus might become appropriate if the outlook were to worsen appreciably,” it said. The economy might not regain its “longer-run path” until 2016.

“The Fed is throwing in the towel,” said Gabriel Stein, of Lombard Street Research. “They are preparing to start QE again. This was predictable because the M3 broad money supply has been contracting for months.”

The Fed minutes amount to a policy thunderbolt, evidence of how quickly the recovery has lost steam. Just weeks ago the Fed was mapping out withdrawal of stimulus.

Goldman Sachs said it expects the euro to rise to $1.35 by the end of the year. The yen will appreciate to ¥83, through the pain barrier for most of Japan’s big exporters. The new twist is that SAFE, China’s $2.4 trillion fund, has begun buying record amounts of Japanese bonds, a shift in reserve allocation away from the dollar.

The signs of a deep and sudden slowdown in the US are becoming ever clearer as the “sugar rush” from the Obama fiscal stimulus wears off and the inventory boost fades. California, Illinois and other states are cutting spending, tightening US fiscal policy by 0.8pc of GDP.

Thursday’s plunge in the Philadelphia Fed’s July index of new manufacturing orders to –4.3 suggests that the economy may have buckled abruptly, as it did in mid-2008. The Economic Cycle Research Institute’s ECRI leading indicator has tumbled, reaching –8.3pc last week. This points to a sharp slowdown or recession within three months.

While US port data looked buoyant in June, the details were troubling. Outbound traffic from Long Beach fell from 139,000 containers in May to 116,000 in June. Shipments from Los Angeles fell from 161,000 to 155,000. This drop in exports is worsening the US trade deficit, eroding the dollar.

The US workforce has shrunk by a 1m over the past two months as discouraged jobless give up the hunt. Retail sales have fallen for the past two months. New homes sales crashed to 300,000 in May after tax credits ran out, the lowest since records began in 1963. Mortgage applications have fallen by 42pc to 13-year low since April. Paul Dales at Capital Economics said the “shadow inventory” of unsold properties has risen to 7.8m. “The double dip in housing has begun,” he said.

Alcoa, CSX, Intel, and JP Morgan have reported good earnings, but they mostly did so in July 2008 just before their shares collapsed. Such earnings rarely catch turning points and can be a lagging indicator. Profits have been boosted in this cycle by cost-cutting, which is self-defeating for the economy as a whole.

The minutes confirm the Fed is split down the middle over QE. Fed watchers say the Board in Washington wants to be ready to launch another round of bond purchases if necessary, pushing the banks balance sheet from $2.4 trillion towards $5 trillion, but hawks at the regional banks are highly sceptical.

A study by the San Francisco Fed said the interest rates need to be –4.5pc to stabilise the economy under the Fed’s “rule of thumb”. Since this is impossible, massive QE needs to make up the difference.

Tim Congdon from International Monetary Re

Truck Loads Of Fun At Motat This Sunday

Truck Loads Of Fun At Motat This Sunday
Visit MOTAT this Sunday and enjoy a special treat as the Museum shows off its biggest and best at the Trucks, Trains and Traction Engines annual event.

Read more on Scoop.co.nz

Where can I find this lifestyle?

I can’t really describe it in words so I’ve given some links to pictures. It’s sort of like it’s sophisticated night life but not rich and snobby, i associate it with jazz and blues clubs, crooners, dimly lit places, misty cold damp calm nights, a Frank Sinatra song called Fly Me to the Moon.

http://www.cathedralstone.net/Pics/Rainbow.jpg – look at the background mostly

http://farm1.static.flickr.com/163/414675779_c250c03cdf.jpg?v=0 – this isnt very good

http://coffee-tv.com/dia/blog/uploaded_images/view-from-apartment-782919.jpg – this one’s better

http://lastheplace.com/images/article-images/1aLatest2008Writers/august/hush_lounge/Hush-Lounge-Dining.jpg

http://www.cstr.ed.ac.uk/cstr21/friday_night.html – the 3 pictures

http://www.totaltravel.com.au/travel/wa/pertharea/fremantle/dining-bars/restaurants-cafes/maya-indian-restaurant/photos/35401

- biggest picture

http://www.lisemiller.com/apartment-city-view-night2.jpg

http://jaybanks.ca/images/vancouver-attractions/Gastown-Steam-clock.jpg

yeah I know my description’s pretty vague and you probably looked at some photos thinking what the hell? If you know what im trying to say do you know a proper name for it, or where I can find it (anywhere in the world)? thanks
yes mimi thats it
where in australia do you live im in perth i dont know many here?

Somebody explain this to me? 10pts.?

Look at this:

http://www.chemguide.co.uk/organicprops/alcohols/ethanolflow.gif

It says 1 volume of ethene + 0.6 volume of steam,
Does this mean that the ratio Ethene:steam is 1:0.6, so for instance 1 mol of ethene would require 0.6 mol steam? Im confused.

Is it possible to detemine the energy remaining in the exhaust of this Steam Engine

This is a 1 Liter 2 cylinder simple steam engine that has 100 PSI of steam pressure and is operating at 1200 RPM. What is the Torque and how much energy remains in the exhaust if the exhaust temp is 100 deg C.

And I am eager to have this products: “Miracle Lid””Eco Steam Buddy”“Paint Zoom”“Halogen Oven”“Kosy Wrap”?

I always at my town, except learning-sessions time, which will be few weeks, I gaining second qualification “Management of Tourism” as correspondence course in Belarus State University till September 2010, this mean — I need to move in Minsk City at June 7 for three weeks & at the end of September to Prove my Diploma.

I am a free boy, looking for lifetime relationships with person who will teach me very good life lessons.
Now, my parents support me.

And I looking for a source of income, which I can gain by offering my service & providing my value for people.

The Geographical position of my location is approximately is 30 degree Eastern Longitude & 52 degree Northern Latitude.
I live a simple life in the Eastern Europe among (bordering with) Poland, Russia, Ukrainia, Latvia, Lithuania.

Belarus has inner sense as “West Russia”. I explain you now the meaning of word “Belarus”: it about color & geographical location.
In Russian language “Bel” = “White”.
In geography “White” = West, “Yellow” = East, “Dark” = North, “Red” = South.
So Belarus means West Russia, and located at the West border from Russia.

If I sometimes watching TV — I prefer “advertisement channels” & Travel Cannel.
I watch satellite TV at geo-station-orbit 28.5 degree at East (UK canals).
And I notice a lots of products which cost in two or even in three times less than the similar products in Belarus.

And I am eager to have this products: “Miracle Lid” to prepare faster & healthier food at kitchen, “Eco Steam Buddy” to cleaning my house, “Paint Zoom” for perfect painting, “Halogen Oven” to cooking and “Kosy Wrap” to be warm in naturally sense.

My home address to sending mail – packages with gifts, please:
Andrei Shaiko
Michurina street, home number 98
Rechitsa, Gomel region
Belarus 247483

Relax, Revive and Replenish this New Year at Hotel Villa Padierna, Marbella?s Thermae Spa

Guests at Hotel Villa Padierna, Marbella, the luxury resort on the Costa del Sol, can start the New Year relaxed, refreshed and revived with a trip to its stunning Thermae Spa. The spa at Hotel Villa Padierna, Marbella boasts an Aromatic Thermal Circuit treatment, eight themed bath-steam rooms, 12 treatment rooms, plunge pool, ice fountain, relaxation room, fitness studio and indoor heated pool; all set in the most beautiful and tranquil surroundings. The hotel’s website, http://www.hotelvillapadierna.com, features a photo gallery and full details of all amenities at the Thermae Spa: one of the finest luxury spas in Marbella.

A tour of the Thermal Circuit at Hotel Villa Padierna’s spa is the perfect way to celebrate the New Year. Spa guests can leave all the stresses and strains of the last year behind them, allowing the warming vapours of the welcoming and enveloping steam rooms to relax their bodies. Then they can awaken their senses with the different aromatic delights of each of the eight aromatherapy steam rooms and saunas; from the woody and fragrant rosemary and thyme essences in the Greek sauna to the exotic coconut and vanilla essences in the Bali steam room. Guests get to experience restoring and reviving aromas from around the world during the Thermal Circuit of this unique spa, surfacing with soothed muscles and a clear mind – ready to tackle the year ahead.

The spa within this luxury resort in Marbella is also perfect for those looking to kick-start a new health regime in the New Year. Hotel Villa Padierna, Marbella’s fitness studio has state-of-the-art cardiovascular equipment and weights machines, as well as a schedule of activities that includes Aqua Gym, Pilates and stretching (some activities are only available in the summer months). The large indoor heated pool allows for swimming even in colder weather.

Finally, guests of the spa who want to treat themselves to a pampering, relaxing treatment can luxuriate with a massage, facial or exfoliating body scrub, or update their look in the excellent hair and nail salon – all within one of the most prestigious luxury spas in Marbella: the Thermae Spa at Hotel Villa Padierna, Marbella.

Hotel Villa Padierna, Marbella

The luxury five star hotel in Marbella, Hotel Villa Padierna, Marbella (http://www.hotelvillapadierna.com) offers a personalised service and the best facilities on the Costa del Sol. Located at the Flamingos Golf Resort, its two 18 hole golf courses make of it one of the main golf hotels in Marbella, and its impressive Thermae Spa is considered one of the best luxury spas in Marbella.

This hotel is also an ideal conference venue in Marbella, perfect for company events and special celebrations such as weddings, anniversaries, incentive trips and product launch venues on the Costa del Sol, with more than 1,000 square metres of reception rooms and terraces and also with its own stunning Roman Amphitheatre.

Editor’s Note: Hotel Villa Padierna (http://www.hotelvillapadierna.com) is represented by the digital marketing specialists and SEO provider Jumping Spider Media. Please direct all queries to Louise Byrne. Email: louise@jumpingspidermedia.co.uk or call: +44 (0)20 3070 1959 / +34 952 783 637.