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News Archives, March 25-31, 2007



Saturday, March 31st, 2007




Iran note ties nuclear stance to fear of attack


• Letter to IAEA expresses fear of attack by U.S. or Israel
• Delegate says IAEA has failed to keep Iranian security information secret
• Agency's response urges Iran to reconsider position
• Iran has refused to allow nuclear watchdog to monitor enrichment facility


    VIENNA, Austria (AP) -- Iran, in a confidential letter posted Friday on an internal Web site of the U.N. nuclear monitor, said its fear of attack from the United States and Israel prompted its decision to withhold information from the agency.

      In the letter, Iran said the U.N.'s International Atomic Energy Agency had repeatedly allowed confidential information crucial to the country's security to be leaked.

      The IAEA, in response, urged Iran to reconsider, saying the decision would be in defiance of the monitor's 35-nation board. Both the Iranian document and the confidential IAEA response were made available to The Associated Press.

      The exchange reflected heightened tensions arising from Iran's refusal to heed the U.N. Security Council and freeze uranium enrichment and the council's decision last Saturday to increase sanctions in response.

      The IAEA also is waiting for Iran to respond to its requests to install remote cameras at key locations at Iran's underground enrichment plant at Natanz.

      No enrichment is yet taking place at Natanz, but diplomats accredited to the IAEA said Friday it may start within days. If so, those cameras are crucial to IAEA experts' efforts to watch for attempts to alter machinery there to make weapons-grade uranium..."


     The story with Iran just keeps getting more and more interesting.





U.S. imposes trade sanctions on China


     WASHINGTON (AP) - "The Bush administration, facing heavy pressure to deal with soaring trade deficits, said Friday it is imposing economic sanctions against China to protect American paper producers from unfair Chinese government subsidies.

      The action reverses 23 years of U.S. trade policy by treating China, which is classified as a nonmarket economy, in the same way that other U.S. trading partners are treated in disputes involving government subsidies.

      The decision was announced by Commerce Secretary Carlos Gutierrez..."



More: 

Stocks seesaw after U.S. Sanctions China

Dollar dips on news of U.S. duties on Chinese paper

Wall St indexes flat as China news eclipses data


     I wonder how Beijing will respond.






Friday, March 30th, 2007




Spring Storm, Tornadoes Kill 4 in Rockies, Plains


     OKLAHOMA CITY (Fox)—  "A massive spring storm spawned dozens of tornadoes from the Rockies to the Plains, killing at least four people in three states, including a woman who was flung into a tree by a twister as wide as two football fields.

      Sixty-five tornadoes were reported late Wednesday in Oklahoma, Texas, Kansas, Colorado and Nebraska, the National Weather Service said. The storms continued Thursday afternoon, with a tornado critically injuring two people in central Oklahoma.

      In Colorado, Rosemary Rosales, 28, was found critically injured in the tree after the huge tornado destroyed several homes and damaged dozens of others in Holly, a town of 1,000 people about 235 miles southeast of Denver near the Kansas line.

      "All they heard was this big ugly noise, and they didn't have no time to run," said Victoria Rosales, the victim's sister..."


     Now we're starting to see more of that "Wrath of Nature" stuff everyone is always hearing about.





Consumers face tough act as economy slows


     WASHINGTON (Reuters) - "Sliding U.S. house prices and rising energy costs could leave normally stalwart U.S. consumers hard pressed to continue their spending growth at a time when businesses appear to be tightening their belts.

      Still, most economists think the U.S. economy will dodge recession this year given the current strength of the labor market.

      U.S. economic growth for the last quarter of 2006 was higher than previously estimated, according to Commerce Department data published on Thursday, but business inventories were up, business investment was weaker than previously thought, and new home building slumped..."


More: 

Mortgage crisis hits million-dollar homes

Oil surges 3 percent to $66 on Iran tensions


     Tough act indeed.  The seams that stitch the economy together are more visible now.






Thursday, March 29th, 2007




Wall St Indexes drop on Bernanke, data, oil


      NEW YORK (Reuters) - "U.S. stocks ended lower on Wednesday after Federal Reserve Chairman Ben Bernanke said he was uncomfortable with inflation and uncertain about the economy, compounding the impact of a weak durable goods report.

      Escalating tensions between Iran and the West also kept investors on edge and boosted crude oil prices nearly 2 percent.

      Shares of manufacturers, including Boeing Co. (BA.N: Quote, Profile, Research), 3M Co. (MMM.N: Quote, Profile, Research) and General Electric Co. (GE.N: Quote, Profile, Research) led decliners, along with retailers, banks and transportation companies...."


     And he said this, so we're going to do this.  But wait this says this so we have to hold off... but wait.....  Ugh.





Oil stands near six-month high on Iran Tensions


    SEOUL (Reuters) - Oil held near its highest close in over six months on Thursday as traders weighed rising risk to Gulf supplies from mounting tension between Iran and the West.

      Small draws in weekly U.S. product and crude stocks were overshadowed by fears surrounding the world's fourth-largest oil exporter, which has been holding 15 British sailors and marines since Friday and was hit with new U.N. sanctions at the weekend.

      U.S. light, sweet crude fell 28 cents to $63.80 a barrel by 0729 GMT, dipping back after closing above $64.00 a barrel for the first time since September 11. London Brent crude shed 8 cents to $65.70 a barrel..."




     All the more reason America MUST become energy independant.  As a beginning, we as private citizens can take precautionary steps (such as fuel rotation) to be prepared for any future fuel crisis.






Wednesday, March 28th, 2007




Geologist: Mt. St. Helens now an 'Open System' Volcano


     VANCOUVER, Wash (Fox) —  "Mount St. Helens may be following the example of Kilauea in Hawaii with magma being replaced from a reservoir beneath the volcano as fast as it emerges as lava at the surface, scientists say.

      While the two volcanoes are different in many respects, Mount St. Helens appears to have become an "open system" as its domebuilding eruption that began in the fall of 2004 continues at a pace that has been unchanged for the past year, said Daniel Dzurisin, a geologist at the U.S. Geological Survey's Cascades Volcano Observatory.

      Analyzing of digital elevation models made from high-resolution aerial photographs, scientists have kept close tabs on the rate at which lava has been pushing into the crater..."


     Ring of fire... still active.  It'll be active for many millenia to come.





Blair warns Iran of "Different Phase"


     LONDON (Reuters) - "British Prime Minister Tony Blair warned Iran on Tuesday of a "different phase" if it does not free 15 British military personnel captured in the Gulf four days ago.

      The sailors' capture and new U.N. sanctions imposed on Tehran on Saturday over its disputed nuclear program have stoked tensions between the West and Iran and pushed oil prices to a 2007 high.

      Russia and the United Arab Emirates on Tuesday urged Iran to comply with U.N. demands that it halt sensitive nuclear work but Tehran says the U.N. resolution is illegal..."



      The whole Iran situation is getting really interesting.  Let's just hope a year from now we're not rationing Steel, copper, fuel and food.




Subprine woes spread


     NEW YORK (Reuters) - "A senior U.S. Federal Reserve staff member warned on Tuesday that subprime mortgage market troubles could last as long as two years, while a leading home builder posting a huge profit plunge blamed subprime lending problems for worsening a soft housing sector.

      Further underscoring the troubles in the U.S. housing sector, economic data showed home prices fell at the start of this year while consumer confidence waned in March, at least partly due to worries about real estate.

      Sandra Braunstein, director of the Fed's division of consumer and community affairs, said problems with subprime mortgages, which are held by less credit-worthy borrowers, could persist for some time..."



     This economic infection seems to be spreading more rapidly than many wish to admit.






Tuesday, March 27th, 2007




Study: Global Warming may create 'novel' climates


• Study: Global warming may destroy some climates and create new ones
• Rain forests could face unexpected changes, species may stuggle to adapt
• Current climates in the Peruvian and Colombian Andes may disappear 


     WASHINGTON (AP) -- "Some climates may disappear from Earth entirely, not just from their current locations, while new climates could develop if the planet continues to warm, a study says.

      Such changes would endanger some plants and animals while providing new opportunities for others, said John W. Williams, an assistant professor of geography at the University of Wisconsin, Madison.

      Using global change forecasts prepared for the Intergovernmental Panel on Climate Change, researchers led by Williams used computer models to estimate how climates in various parts of the world would be affected.

      Their findings are being published in this week's online edition of Proceedings of the National Academy of Sciences.

      The IPCC, representing the world's leading climate scientists, reported in February that "warming of the climate system is unequivocal, as is now evident from observation of increases in global average air and ocean temperatures, widespread melting of snow and ice and rising global average sea level."..."


     Wow.  Ok, let me get this straight.  The earth is getting warmer.  So, that means that during this Climate Shift, the Climate is going to change?  Hold on, I need to sit down to let that shocking revelation soak in.  Pshhh...





Dollar pressured as new-home sales disappoint


     TOKYO (Reuters) - The dollar stayed near overnight lows against most major currencies on Tuesday after U.S. sales of new homes in February dropped to the lowest rate since June 2000, resurrecting expectations of a Federal Reserve interest rate cut.

      The report offset stronger-than-expected existing home sales data last Friday and reignited concerns that the slowing U.S. housing market has yet to stabilize.

       "Monday's data was a big disappointment to the market, which was about to turn optimistic over U.S. subprime loan problems," said Kengo Suzuki, a currency strategist at Shinko Securities..."



      This roller-coaster is staring to make me sick.






Monday, March 26th, 2007




Aftershocks Shake Japan as Country Recovers
 

     KANAZAWA, Japan (Fox)  —  "Aftershocks shook a rural area of coastal central Japan Monday, a day after a powerful earthquake killed at least one person and injured 170 others as it toppled buildings, triggered landslides and generated a small tsunami along the coast.

      One of the aftershocks had a preliminary magnitude of 5.3 and struck at 7:19 a.m. Monday. Japan's Meteorological Agency said there was no tsunami danger.

      "A fairly big aftershock hit just minutes ago and I jumped out the door," said Tomio Maeda, manager of a convenience store in Anamizu town. "It's scary, I guess it's not over yet."..."


     Still causing some problems, it seems. 





Iran to Suspend Cooperation With Nuke Watchdog


     TEHRAN, Iran (Fox)  —  "Iran isn't backing down after a unanimous vote by the U.N. Security Council to impose sanctions, announcing Sunday that it will partially suspend cooperation with the U.N. nuclear watchdog agency and will be adjusting relations with those nations who voted for sanctions.

      Iranian officials called the vote by the U.N. Security Council in response to Tehran's refusal to stop enriching uranium "illegal and bullying."

      "The Security Council has to be aware of its own position and status. Actions that are illegal, unwarranted and unjustified will reduce the credibility of the Security Council," Iranian Foreign Minister Manouchehr Mottaki said through a translator while in New York.

      "A few select countries don't have the right to abuse the Security Council," Mottaki added..."



      Somehow it doesn't quite seem like Iran is developing nuclear technology for peaceful applications.





Blair: Iran capture of sailors 'serious'


• Britain, U.S. say sailors, marines were in Iraqi part of disputed waterway
• Capture comes after disappearance, capture of Iranian officials
• Iran claims 15 British sailors and marines confess to being in Iranian waters
• Iran claims UK sailors entered Iranian waters in "suspicious act"

     LONDON, England (AP) -- "Prime Minister Tony Blair on Sunday called the Iranian seizure of 15 British sailors and marines "unjustified and wrong," saying in his first remarks on the escalating confrontation that London saw it as a "very serious situation."

Iran said legal proceedings were under way, suggesting the possibility that the group may be tried for illegally entering Iranian waters off the coast of Iraq.

U.S. Secretary of State Condoleezza Rice insisted during a trip to the Middle East that the Britons be released, saying "we all fully trust the British" account.

Blair disputed Tehran's claim that the 15 were in Iranian territorial waters at the time they were seized on Friday.

"There is no doubt at all that these people were taken from a boat in Iraqi waters," Blair said during a European Union meeting in Berlin..." 
  
    
     Can anyone say "Political Leverage"?  That's what it boils down to.  We know the British Navy is NOT careless in where it goes.  As one of the oldest and most powerful Navies in the world, the Brits knew where they were and why they were there.  Iran wants their spys from Iraq back... now they have a few chips of their own to bargain with.







Sunday, March 25th, 2007




1 dead, 110 injured in Japan 6.9 magnitude quake
 
 

     TOKYO, Japan (AP) -- "A powerful, deadly earthquake struck Japan early Sunday, killing at least one person and injuring 110 others as it violently shook buildings and triggered a small tsunami that hit the coast, officials and media reports said.

      The magnitude-6.9 quake struck at 9:42 a.m. local time off the north coast of Ishikawa prefecture (state), Japan's Meteorological Agency said, about 225 miles northwest of Tokyo. The agency issued a tsunami warning urging people near the sea to move to higher land.

      A small tsunami measuring 6 inches hit shore about 40 minutes after the quake, the agency said. The warning was lifted about an hour later.

      The quake toppled buildings, triggered landslides, cut power, interfered with phone service, broke water mains and snarled public transportation. At least one person was killed and 110 others were hurt along the country's Sea of Japan coast, media reports said.

      Fear of aftershocks and more landslides caused by the loosening of soil waterlogged by overnight rains continued to plague the quake zone..."


     Nothing unusual here.  Just part of the tectonic zone of high activity known as "The Ring of Fire". 





IMF to urge further depreciation in dollar: paper


      BERLIN (Reuters) - "The International Monetary Fund will say further depreciation by the U.S. dollar is needed to help correct global imbalances in its latest World Economic Outlook (WEO), Germany's Sueddeutsche Zeitung said on Saturday.

      Quoting from a draft of the WEO, the paper said the Washington-based fund argued "extraordinarily aggressively" for a correction in exchange rates, above all so as to reduce the massive U.S. current account deficit.

      The dollar, which slid to a 2-year low against the euro last week, should continue to depreciate in the mid-term, while the yen, the Chinese yuan and currencies of oil-exporting countries in the Middle East should all appreciate, the draft WEO said.

      The WEO, which is due to be published in mid-April, will add that there is no great need for further interest rate increases by the European Central Bank, according to the paper..."


     Well, I'm glad "The World" decided that the U.S. Dollar was "imbalanced".  Though, they don't need to decide on the dollar to depreciate.   It's a backless currency and with the U.S. Mint cranking out bills 24/7 (without an M3 report, that once truly gauged the U.S. Economic climate). 





Millions face drought in Soutwest China



      China (BBC) -- "More than 5.5 million people are short of drinking water because of an acute drought in south-western China, state media reports.

      Low rainfall in the province of Sichuan has forced officials to deliver clean water to the worst-hit areas.

      Six million livestock and half a million hectares of land are affected, Sichuan's governor said.

      Many areas of China are regularly hit by water shortages or droughts, with some blaming climate change.

      Most of Sichuan received no major rain in February, and no significant rain predicted before the end of March..." 

  
    
     Wow, more droughts.  I wonder what China, the largest nation in the world (population wise) is going to do to get water now.  It'll be interesting to see how they handle this.












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