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Submitted by: Chad Shoop

My 6-year-old son has picked up an interesting hobby — following the weather.

In his kindergarten class he became famous as their weatherman, informing them every day of the extended forecast. To be honest, I think he does a better job than the guys on T.V.

The other day he posed a question about a weather forecast: What is the difference between partly cloudy and mostly sunny?

Being a life-lesson type of moment, I explained to my son that it’s merely different perceptions of the same weather forecast. Partly cloudy is a bit gloomier while mostly sunny is more upbeat … but they essentially mean the same thing.

I’m sure for a 6-year-old this is hard to grasp, and it doesn’t get easier as we get older.

The forecasts flowing from the most recent housing stats can puzzle anyone, but this perception has a reality that could unravel the sector…

Mainstream media has concluded that recent housing starts show that demand is strong, and housing is on sound footing — this is a dangerously wrong perception.

[youtube]http://www.youtube.com/watch?v=8CrwICToUqw[/youtube]

This forecast for mostly sunny skies glosses over actual results depicting something much gloomier — a storm is already brewing.

This storm is one that underlines our fragile U.S. economy, and is just further proof that interest rates are going to remain low for longer than expected.

Rise of the Rente

Even though housing starts plummeted 11% in May, the media is focused on the only glimpse of positive news in the housing segment — building permits jumped 12%. They completely brush off the 11% slump in actual housing starts and only briefly mention that the 12% surge in building permits is for apartment buildings — not single-family homes, which are the pulse of the U.S. economy.

The problem with having a positive outlook based on permits, starts or anything related to multi-family homes is that those actually increase in times of a weak economic environment, much like we are seeing today.

The recovery has been uneven for most Americans. While the unemployment rate has steadily dropped, so has the quality of jobs that have been created, leaving too many workers without the income needed to buy new homes.

Student loan debt is a big contributor to this as well. College students graduating today are the most indebted in history, causing them to push back starting families and buying homes.

This helps explain why rent prices are soaring — up 15% and 11% in places such as San Francisco and Denver.

Even though mainstream media outlets continue to give us a rosy forecast, mostly sunny with a chance of a cloud, we are actually heading into a darker time, cloudy with a chance for a storm.

These are the facts that show you the underlying health of the housing market and the U.S. economy — an economy that is clearly not prepared for a normalized rate environment.

Balanced on the Edge

Normalized rates would put an already weak housing market into a crisis — one that would be worse than the housing crisis we experienced in 2008.

That’s because higher interest rates make purchasing a home less affordable and less attractive to current homeowners.

If a current homeowner has an interest rate of 3.5% locked in today, why trade that loan in for an interest rate north of 5%, which would cost them hundreds of dollars each month? Instead, would-be buyers delay potential home purchases, leading to even higher rent prices due to rising demand.

But, without new demand for housing, the housing market would crumble. Heavily-leveraged builders and developers would go bankrupt, housing prices would plummet and millions would be forced to foreclose on their homes once again. Once again, the U.S. economy would be put into a tailspin.

While the media continues to forecast sunny skies, make sure you are paying attention to the actual data on the U.S. economy that is rolling out — we are in the midst of a storm, and interest rates may be the very thread that is holding it together.

About the Author: Chad is an investment analyst for Pure Income, a newsletter that taps into the best off-the-radar opportunities for generating safe, steady monthly income. His research and insight allow subscribers to earn a guaranteed annual yield of at least 11%. You can learn more here:

sovereignsociety.com/pure-income/

.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1939560&ca=Finances}

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Caroline Kennedy drops bid for New York Senate seat

Thursday, January 22, 2009

Caroline Kennedy, considered to be among the front-runners for the United States Senate seat vacated by Secretary of State Hillary Clinton, yesterday withdrew her name from consideration for the seat. New York state Governor David Paterson had been reported as intending to name her as Clinton’s replacement this Saturday.

Caroline Kennedy, the only surviving child of former U.S. President John F. Kennedy, issued a statement at midnight saying she had quit her bid because of “personal reasons”.

A close associate of Kennedy, who spoke under the condition of anonymity, said that the decision was not related to the recent health issues of Senator Ted Kennedy (D-MA), Caroline Kennedy’s uncle. The senator suffered a seizure Tuesday while attending a luncheon with the newly inaugurated U.S. President Barack Obama in the U.S. Capitol in Washington, D.C.. He was rushed out of the event in a wheelchair and taken for treatment to Washington Hospital, where he remains. In May 2008 he was diagnosed with brain cancer, which required an operation.

The New York Post has reported that Kennedy withdrew her bid because Paterson was not going to choose her for the position. Citing the anonymous source, the Post said that “her poor performances in media interviews and in private sessions with various officials” is Paterson’s reason for not appointing her to the position. Paterson will reportedly make his decision by Saturday, January 26.

New York Attorney General Andrew Cuomo is the highest-profile candidate still up for consideration for the last two years of Clinton’s term. Cuomo, who has not commented on this recent turn of events, was the housing secretary during former President Bill Clinton‘s time in office, and in his current role as attorney general has overseen nation-wide reforms for student loans and participated in limiting Wall Street corporate spending.

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No injuries after Antarctica research station support plane crashes

Tuesday, December 25, 2007

A Basler BT-67, chartered from Canadian air carrier Kenn Borek Air for the National Science Foundation (NSF), a United States government agency, has crashed whilst attempting take-off during a support assignment in Antarctica. None of the ten people on board were injured, but the modified Douglas DC-3 was substantially damaged in the accident.

The accident occurred on the morning of December 20 local time, about 550 miles from McMurdo Station, a US-run Antarctic base. The aircraft was carrying a crew of four, and six researchers. The flight was part of the Polar Earth Observatory Network project, which is part-funded by the NSF. The project sets up GPS equipment and seismic sensors in various locations across Antarctica, in order to monitor changes in the ice sheets that cover the continent. It is thought that this will aid understanding of global warming.

Although the NSF refused to publicise any details of the crash, one anonymous passenger has come forward about the accident, releasing his account in the form of an online report. According to the passenger, one side of the plane failed to lift off, and the aircraft’s wing subsequently dug into the ice.

“My seat came unbolted from the floor with me still strapped into the seatbelt,” the passenger said. “When we finally came to a halt, we were all in big pile in the corner of the plane with all of the equipment. We got shaken up pretty bad, but there were no major injuries other than some minor cuts and bruises… The wings, props, and tail all got bent up pretty bad. The landing gear, skis, and hydraulic system all were ripped from the plane and strewn about the ice.”

Following the accident, all those on board spent about twenty hours before they were flown back to McMurdo Station on board two Twin Otter aircraft sent from the base on a rescue mission. A full investigation has been launched into the crash by the Department of the Interior‘s Aircraft Management Division (AMD), who have signed a memorandum of agreement with NSF to conduct any necessary investigations on their behalf. The AMD have subsequently contacted the United States National Transportation Safety Board, who will participate in conjunction with the Transportation Safety Board of Canada.

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Cocaine found in frozen mango puree shipped to Montréal, Canada

Wednesday, June 20, 2007

The Canada Border Services Agency (CBSA) and the Royal Canadian Mounted Police (RCMP) announced Tuesday that they had seized approximately 160 kilograms of cocaine discovered in buckets of frozen mango puree imported from Mexico.

Investigations led the police to a shipping container destined for the Port of Montréal, in the Canadian province of Québec. A CBSA officer at the Container Examination Centre in Montréal identified the suspect container. The drug was found in brick-shaped plastic wrapping of about 4 kilograms in weight each. There were 1,200 buckets of frozen mango puree in the shipment, not all with cocaine inside.

RCMP Sgt. André Potvin told reporters that the value of the shipment was significant and was the largest maritime port drug haul in the force’s history. At CA$20 per half-gram, “that’s in the vicinity of $38 million,” said Potvin.

The investigation by the RCMP Drug Section, CBSA Intelligence officers, the Marine Security Enforcement Team and the Port of Montréal Security Group, determined that an import company, named Quality Mexport, was allegedly a front for the drug-smuggling operation.

Five Mexicans, holding visitor status in Canada, were arrested in the matter. They are:

  • Juan Manuel Huerta Canela, 31;
  • Jose Gerardo Bernal Vasquez, 52;
  • Jose Luis Navarro Ochoa, 33;
  • Jesus Manuel Villa Quiroz, 32; and
  • Alfonso Strag Estrada, age 50.

The suspects have been charged with importing and possession of drugs for the purpose of trafficking. The charges are allegations at this point in time.

Category:May 27, 2010

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Category:May 27, 2010
Author:

12 Feb

? May 26, 2010
May 28, 2010 ?
May 27

Pages in category “May 27, 2010”

Wikinews Shorts: May 7, 2007

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Wikinews Shorts: May 7, 2007
Author:

12 Feb

A compilation of brief news reports for Monday, May 7, 2007.

A 30 meter section of a gas pipeline in Luka (near Kiev) in Ukraine has been destroyed by an explosion. Although supplies to Europe via this pipeline have stopped, Ukrainian Energy Minister Georgi E. Boyko said that supplies to Europe would not be affected.

“There are no changes in volumes of gas being transported,” Yuri Korolchuk said. “Volumes due to pass through the damaged section are being redirected through the Soyuz pipeline.”

Normal flows are reported in the Czech Republic, Hungary, Poland and Romania.

Sources


Copper prices are rising. Between record copper imports from China, and a mining strike in Peru, the prices have climbed to over $8100 (United States dollars) a tonne, for a gain of $575 dollars over the last week. However the upward trend is not new, it has been climbing for quite some time. In April 2003, the price of copper was under $2000 a tonne.

The metal market has been tending up due to growth in the Chinese industrial production. This trickles down to the local level, where the buying price at scrap yards is ever climbing, making scrap metal collection a more profitable endeavour for individual people using pick up trucks or other such vehicles to collect and cash in the scrap metal at metal buying yards. It can be collected via agreements with businesses, from the garbage, or, sometimes, by theft.

Copper prices fell today on the NYMEX commodity exchange from US$3.7545 per pound to US$3.7125 based on the July futures contract.

Sources

This article features first-hand journalism by Wikinews members. See the collaboration page for more details.
This article features first-hand journalism by Wikinews members. See the collaboration page for more details.

One man was killed and another injured by an exploding backpack in the parking lot of the Luxor Hotel in Las Vegas, Nevada. The explosion happened at 4 a.m. PDT when the victim tried to remove a the object left on top of his car.

Agents from the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) are on the scene. Aerial images did not show any apparent damage.

“We believe the victim was the intended target of this,” Bill Cassell said, spokesperson for the Las Vegas Metropolitan Police Department. “This is being treated as a homicide in which the weapon used to cause death is a non-traditional weapon.”

Both of the victims worked at the Luxor.

Sources


New fossils from 10 million year old ape found in Ethiopia

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New fossils from 10 million year old ape found in Ethiopia
Author:

12 Feb

Thursday, August 23, 2007

Researchers say that new, ten million-year-old fossils found in Ethiopia, prove that the theory that humans may have evolved from a species of great apes eight million years ago, may not be true, but that humans may have split from apes as long as 10.5 million years ago.

At least nine fossilized teeth, one canine tooth and eight molars, of a previously unknown species of apes found in Africa were discovered by a team of researchers from Ethiopia and Japan who then compared the 3-D make up of the teeth to other fossils that date back as far as 8 million years and found that the fossils are likely a “direct ancestor” of apes currently living in Africa and that the new ape fossils were that of a species of gorilla who ate mostly plants high in fiber.

Current fossils and research say that the evolutionary split from apes to humans occurred at least eight million years ago. The new fossils say that the split may have happened as long as 10.5 million years ago.

“Based on this fossil, that means the split is much earlier than has been anticipated by the molecular evidence. That means everything has to be put back,” said researcher at the Rift Valley Research Service in Ethiopia and a co-author of the study, Berhane Asfaw.

Despite the finds, other researchers are not convinced that the findings are correct.

“It is stretching the evidence to base a time scale for the evolution of the great apes on this new fossil. These structures appear on at least three independent lineages of apes, including gorillas, and they could relate to a dietary shift rather than indicating a new genetic trait,” said a Professor at the London Natural History Museum in the United Kingdom, Peter Andrews who also added, “but the fossil evidence for the evolution of our closest living relatives, the great apes, is almost non-existent.

Researchers have named the newly discovered species Cororapithecus abyssinicus whose remains were found in the Afar Region of Ethiopia, the same place where the remains of Lucy were discovered in 1974.

Author of My Billion Year Contract reflects on life in elite Scientology group

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Author of My Billion Year Contract reflects on life in elite Scientology group
Author:

10 Feb

Thursday, January 14, 2010

Wikinews interviewed author Nancy Many about her book My Billion Year Contract, and asked her about life working in the elite Scientology group known as the “Sea Org“. Many joined Scientology in the early 1970s, and after leaving in 1996 she later testified against the organization. Published in October, Many’s book has gone on to become one of the top selling new books on Scientology at Amazon.com.

UK Home Secretary announces ID card pilot launch

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UK Home Secretary announces ID card pilot launch
Author:

10 Feb

Wednesday, May 6, 2009

U.K. Home Secretary Jacqui Smith has announced a voluntary pilot scheme for identity cards. Greater Manchester has been chosen for the pilot and passport holders over sixteen will be able to submit applications for the card at post offices and pharmacies.

A number of other high street retailers are negotiating with the government to be permitted to take photographs and fingerprints for the scheme.

Opposition leaders stand against the planned compulsory nationwide scheme, calling for the £5.3 billion programme to be scrapped. The pricetag does not include the costs that agencies and other government departments will incur procuring equipment to verify the cards.

The trial is also supposed to be in effect at London City and Manchester airports. This is opposed by the British Air Line Pilots Association (BALPA), claiming it is effectively compulsory; in order to get airside passes pilots will have to produce one of the new national identity cards.

When any old chemist in Wythenshawe or Ancoats is responsible for collecting personal information that is supposed to be private and secure, there is a real chance for that information to be used for fraudulent purposes

BALPA general secretary, Jim McAuslan, emphasised some of the concerns of the association’s members, “Like every other citizen, they ask themselves what will happen to the data they are coerced into providing; whether it will it [sic] be safe, whose hands might it fall into, and what might they do with the data?” As do many of the ID card scheme’s detractors, he made the Orwellian comparison, “Our members increasingly have a sense that a line is being crossed in the relationship between state and citizen; a sense that Big Brother knows best.”

Wikinews contacted NO2ID about the proposal, and received feedback from their press spokesman, Michael Parker. He emphasised that this announcement is not a sure sign that the cards will actually be available later this year. Regarding the choice of post offices and chemists to serve on the front line of issuing the cards he said, “…it totally undermines the whole idea of the project as a ‘gold standard’ ‘unbreakable’ ID card that would guarantee we are who we say we are. When any old chemist in Wythenshawe or Ancoats (Manchester districts) is responsible for collecting personal information that is supposed to be private and secure, there is a real chance for that information to be used for fraudulent purposes.”

HAVE YOUR SAY
Are the concerns expressed by NO2ID and others justified?
Add or view comments

NO2ID is an independent group set up to campaign against the ID card system, and what they describe as the ‘database state’. When Wikinews asked if they trust the UK Government with a database of 60 million individuals’ details his response was cutting and blunt, “I would say ‘Not as far as I could throw them’, but then it would be easy to download 60m peoples’ details onto a CD and then throw that quite far…”

Despite the existence of pressure groups such as NO2ID, the government asserts that there is broad public support for the introduction of compulsory ID cards.

Truck carrying explosives crashes, explodes in Utah

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Truck carrying explosives crashes, explodes in Utah
Author:

9 Feb

Thursday, August 11, 2005

A truck carrying 35,500 pounds (16,100 kg) of explosives used in mining and seismic exploration overturned and exploded on a rural mountain section of U.S. Highway 6 in Utah’s Spanish Fork Canyon Thursday afternoon.

The wreck occurred shortly after 2 pm, as driver Travis Stewart, 30, of Rexburg, Idaho, was leaving Ensign-Bickford Co., a commercial explosives manufacturing plant at the mouth of the canyon. Company officials said the truck was destined for Oklahoma.

Witnesses said Mr. Stewart appeared to lose control of the truck after entering a curve in the road at a high rate of speed. Utah Highway Patrol Lt. Ken Peay said, “speed was a factor” in the wreck of the truck but refused to speculate on how fast the truck was traveling when it wrecked. Lt. Peay said the posted speed limit on the road is 60 mph, but the advised speed is 40.

At least 17 people received minor injuries and the explosion left a 35 foot deep crater in the highway. The driver was transported via helicopter to a hospital, where he was listed in fair condition, and was later released. The co-driver Troy Lysfjord, 37, of Blackfoot, Idaho, was helped from the wreck by passers by and listed in fair condition at Utah Valley Regional Hospital in Provo.

The wreck site occurred on a major thoroughfare between Denver and Salt Lake City – about 60 miles south of Salt Lake City – was already under reconstruction by nightfall, as road crews began installing 10 inches of asphalt on the two lane road.

Utah Department of Transportation spokesman Tom Hudachko said officials hoped to have the road fully repaired by Friday afternoon, adding that, “When you take a look at that hole that was there 24 hours ago, I think it’s amazing the progress that was made.” As of press time, the mouth of the canyon was reopened to traffic, while traffic at the accident site was impassible, and rerouted nearby.

The explosion consumed all but about 60 pounds of explosives, and loosened some boulders on the north side of the highway, damaged railroad tracks and some fiber optic lines buried along the roadway. Amtrak and Union Pacific reported delays resulting from the wreck. Uinta National Forest spokesman Loyal Clark said forest firefighters were unable to respond to several small fires nearby that were apparently started by flying debris, and that helicopters dropped water to extinguish them. High humidity and lack of fuel from a previous fire delayed the fire’s spread.

The cost of repairs, while paid immediately by the state, will ultimately be borne by the trucking company’s insurance carrier. The truck is registered to R&R Trucking of Duenweg, Missouri.

UHP Lt. Peay said the investigation findings will be turned over to Utah County Attorney Kay Bryson whom would make any final decision about what charges, if any, would be pressed.