Daily Digest 7/10 - 5 Signs Of Chinese Economic Apocalypse, The Politics Of Power Outages
The president’s proposal could also put him at odds with Democratic leaders like Representative Nancy Pelosi of California and Senator Charles E. Schumer of New York, who have advocated extending the cuts for everyone who earns up to $1 million. And it will most likely do little to break the deadlock in Washington over how to deal with fiscal deficits, an impasse that has only hardened as Republicans sense a chance to make gains in Congress this fall.
Syria Could Crash The Dollar (David B.)
The U.S. Secretary of State went on to accuse Russia, China and Iran of supporting Syria’s Assad regime economically and militarily, and called upon other nations to comply with UN sanctions levied upon Syria—sanctions which would also include refusing oil shipments from Syria’s vital economic support and trusted ally, Iran. But for continued sanctions against Syria to be effective, “much will remain dependent on persuading the two reluctant powers [Russia and China] to pressure Assad into action [of peaceful regime change in Syria],” according to Canada’s CBCNews.
The result could be that people have lost net access because PCs that are still victims of DNS Changer now have nowhere to go when they need to look up the location of a particular domain such as bbc.co.uk.
However, it might take some time for the problems to become apparent, said Sean Sullivan, a security researcher at F-Secure.
Although China's outlook may still be positive by, say, European standards, the numbers show that the country's storied growth engine has slipped out of gear. Businesses are taking fewer loans. Manufacturing output has tanked. Interest rates have unexpectedly been cut. Imports are flat. GDP growth projections are down, with some arguing that China might already be in recession. In March, Premier Wen Jiabao put the 2012 growth target at 7.5 percent; then seen as conservative, it's now viewed as prescient. If realized, it would be China's lowest annual growth rate since 1990, when the country faced international isolation after the 1989 Tiananmen Square massacre.
A Gold Rush in the Abyss (jdargis)
These finds are fueling a gold rush as nations, companies and entrepreneurs race to stake claims to the sulfide-rich areas, which dot the volcanic springs of the frigid seabed. The prospectors — motivated by dwindling resources on land as well as record prices for gold and other metals — are busy hauling up samples and assessing deposits valued at trillions of dollars.
“We’ve had extreme success,” Mr. Dettweiler said in a recent interview about the deepwater efforts of his company, Odyssey Marine Exploration of Tampa, Fla.
A thunderstorm that struck the East Coast early last week left millions without electricity and power companies took days to restore power to about half of their customers. Four days after the storm, power was restored to 67% in the Northern Virginia suburbs and 61% in Baltimore, but Montgomery County, Maryland and parts of Washington, D.C. only managed to restore 43%, leaving over a million without electricity as temperatures soared above 100 degrees.
The delay in certification adds another notch of uncertainty to Shell’s narrow window for operations in the Arctic, which already is tight because drilling must halt by September in the Chukchi Sea and by October in the Beaufort Sea to avoid the dangerous advance of sea ice that comes with winter. Though drilling initially was scheduled to commence by mid-July, unusually heavy sea ice from the past winter has postponed that, probably until the first week of August.
His concern is shared by others in both rural and urban parts of Texas, Pennsylvania and Ohio, where drilling for natural gas beneath homes, parks, churches, schools and even cemeteries has become commonplace. The fracking process, in which sand, water and chemicals are injected deep underground at high pressure to extract natural gas from rock formations, has been criticized by environmentalists and others who worry about its effects on groundwater and residents’ health.
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