gollum123 writes “The US Supreme Court has removed restrictions on the Navy’s use of sonar in training exercises near California. The ruling is a defeat for environmental groups who state the sonar can kill whales and other mammals. In its 5-4 ruling, the Supreme Court stated the Navy needed to conduct realistic training exercises to respond to potential threats. The court didn’t deal with the merits of the claims put forward by the environmental groups. In reinstating the use of sonar, the top US court rejected a lower federal judge’s injunction that had required the US Navy to take various precautions during submarine-hunting exercises. The Bush administration argued that there’s little evidence of harm to marine life in more than 40 years of exercises off the California coast. It stated that the judges should have deferred to the judgment of the Navy and Mr Bush. Writing for the majority, Chief Justice John Roberts stated overall public interest was ’strongly in favor of the Navy.’ ‘The most serious possible injury would be harm to an unknown number of the marine mammals,’ Chief Justice Roberts wrote. ‘In contrast, forcing the Navy to deploy an inadequately trained anti-submarine force jeopardizes the safety of the fleet.’”

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Pakistan lands $7.6-billion loan from IMF - Globe and Mail
KARACHI — Pakistan has concurred with the International Monetary Fund (IMF) on a $7.6-billion emergency loan to stave off a balance of payments crisis and pave the way for a broader economic rescue plan. The IMF said on Saturday its executive board

Government blamed for automobile dealers crisis - West Online
The lack of available finance for car dealers is due to the federal government’s bungled bank deposit scheme, the opposition says. The Rudd government has offered an extra $3.2 billion to the ailing automobile making industry as an extension to a 13-year

Tesco bank chief Higgins raids crisis-hit rivals to fill top positions - Scotsman.com
BENNY Higgins, the new chief executive of Tesco Personal Finance, has poached senior names from crisis-hit Royal Bank of Scotland and HBOS, his former employers, with more expected to follow. As the meltdown at the big two Scottish banks continues

World leaders agree to step up financial oversight - FXStreet.com
WASHINGTON, Nov 15 (Reuters) - Leaders of the world’s 20 largest economies vowed on Saturday to toughen oversight of the troubled financial system, but stopped short of calling for a global super-regulator or new restrictions on hedge funds. At an

New powers for Revenue to investigate landlords - Sunday Business Post
The Revenue Commissioners are to receive major new powers to investigate the tax compliance of the country’s 120,000 landlords. Legislation is being drafted to give the Revenue full access to the database of the Private Residential Tenancies Board

G20 source: leaders to agree on action plan - WJLA
The official stated leaders are close to giving their approval to the draft statement. He declined to be identified before the text is formally adopted. The text is divided into two parts. A five-page document of principles calls for intensified

Freddie Mac Seeks Government Aid After $25.3B Loss - Washington Post
Resize Freddie Mac has asked the federal government for the first $14 billion due under a federal bailout program after reporting big losses today, as concern mounted that government efforts to stabilize the mortgage giant and its sister company

Poland: Sarkozy to have no influence on missile shield talks - Earthtimes
Warsaw - Polish Prime Minister Donald Tusk said Saturday that the establishment of the US missile shield in his country was solely of concern to Poland and the United States. French President Nicolas Sarkozy, who currently holds the rotating

High earners will face 3% income levy - Sunday Business Post
A new 3 per cent income levy for high earners, along with wide-ranging enhancements to the tax regime for research and development (R&D), will be among the headline measures in this week’s Finance Bill. The bill, which brings into effect measures

Small change - The Washington Times
We’ll likely see a lot of political “readjustments” come January, once President-elect Barack Obama and many new Democratic congressmen assume office, and the Republican administration leaves. Take the filibuster. For much of the Bush

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Filed under: Forecasts, Housing, Recession

Yesterday, the market had a swing of over 900 points as indexes hit new lows for the year and then pushed upward to close 6% or so higher. Overnight, markets in Asia and Europe staged rallies of their own.

The stock market may march up for a while, but that can’t be sustained and the odds are likely that it will crash and make new lows again before year’s end.

The fiction is that the markets trade based on what they see six months into the future. Perhaps they see GDP recovering by then. Not a chance.

George Soros said yesterday that there is some chance that the world economy will enter a depression next year. That may be extreme, but a majority of business leaders and economists who want to be heard on the subject state that this is the most significant downturn of their lifetimes.

There’s a view that falling housing prices are at the core of the disaster that has overwhelmed the financial structure of the country and is now hurting everything from retail sales to tech company revenue. Housing may be helped by government programs, but if unemployment hits 8% or superior next year, the number of people who have to give up their homes could rise sharply. Lower interest rates do not help people out of work.

Another misconception about the future is that oil prices will continue to fall. With some OPEC nation’s facing budget deficits due to crude dropping from over $140 to $55, the cartel will have to cut production to meet demand. That might mean a massive cut, but OPEC can match the drop in the global need for oil with a paltry supply.

The stock market has not stopped going down.

Douglas A. McIntyre is an editor at 247wallst.com.

Why a stock market rally can’t be sustained originally appeared on BloggingStocks on Fri, 14 Nov 2008 09:15:00 EST. Please see our terms for use of feeds.

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Matt_dk writes “Today, Chandrayaan-1 spacecraft has successfully reached its intended operational orbit at a height of about 100 km from the lunar surface. This followed a series of three orbit reduction manoeuvres conducted during the past three days by repeatedly firing the spacecraft’s 440 Newton Liquid Engine. The next major event of Chandrayaan-1 mission planned in the coming days is the release of Moon Impact Probe (MIP) from the spacecraft and its eventual hitting of the moon’s surface.”

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Gordon requests money from federal bailout - Arizona Republic

WCBD

Gordon requests money from federal bailout Arizona Republic, Share This Share This No Comments » 15 11 2008 Google makes search on the iPhone prettier - and more useful? Posted by: in Products and Services Filed under: Products and services, Google (GOOG), Apple Inc (AAPL) Google, Inc. (NASDAQ: GOOG) continues to bet that beating the competition in the wireless arena isn’t a strategy, but a matter of growth survival. If it wants to rule the wireless search and web application universe care about it has the world wide web, it has to be everywhere on every device. To that tune, Google has upgraded its search results for the Apple, Inc. (NASDAQ: AAPL) iPhone in an effort to fit better with the device’s specific display limitations - and capabilities. Yes, Google voice search was just added to the iPhone’s abilities, but Google can’t stop there. Google indicated this week that the “side to side” scrolling to view complete search results on the iPhone has been eliminated. In addition, easier “click to call” and “get directions” links are now in place for those mobile searches where Google thinks you may want to call someone or find directions from a web search on the iPhone. Even though the iPhone has a great display, it’s nowhere near a standard flat-screen monitor. Similar to how Google displays itself on a standard cellphone, a “Classic” option exists at the bottom of each Google search performed on the iPhone should iPhone users wish to get the “full Google” experience on the limited screen real estate on the iPhone. For iPhone fanatics (you’re probably included if you own one), the new layout will probably be to your liking. And, just like Google wants you too, you’ll continue to use Google for all your iPhone web-based search needs forever and ever. At the same time, Yahoo! Mobile employees might be heard collectively screaming. Google makes search on the iPhone prettier - and more useful? originally appeared on BloggingStocks on Fri, 14 Nov 2008 18:41:00 EST. Please see our terms for use of feeds. Read Share This Share This No Comments » 15 11 2008 Mortgage applications inch higher last week Posted by: in Housing Filed under: Forecasts, Good news, Money and Finance Today, Housing, Recession, Financial Crisis The main question that everyone keeps asking regarding the housing market is: when are people going to start to purchase again? Last week we saw a tiny encouragement in this area, as mortgage applications rose a bit higher, possibly in reaction to lower interest rates. Almost everyone concurs that the troubled housing market is a key ingredient to the current economic troubles that the American economy is dealing with, but today we got a bit of good news, as mortgage applications reportedly rose by 11.9%. Last week’s move is a nice sign, but we also have to remember that just the week before, we were looking at applications running at their lowest level since all the way back in December 2000, so we can’t grant ourselves to get too excited over today’s news. We still have a long way to go before the country is able to crawl its way out of the current housing melt down. Continue reading Mortgage applications inch higher last week Mortgage applications inch higher last week originally appeared on BloggingStocks on Thu, 13 Nov 2008 17:20:00 EST. Please see our terms for use of feeds. Permalink Share This Share This No Comments » 15 11 2008 Mars Rover “Spirit” In Danger Posted by: in Life and Science Riding with Robots writes “Just days after announcing that the Mars Phoenix Lander has met its icy demise, NASA reports that a dust storm has left the rover Spirit on the edge of power failure. During one current Martian day, the robotic geologist’s solar array produced only 89 watt hours of energy, the lowest output by either rover in their almost five years on Mars. Mission managers are taking steps to protect the hardy, battle-worn spacecraft, but the agency describes Spirit’s status as ‘vulnerable.’” Read more of this story at Slashdot. Share This Share This No Comments » 15 11 2008 Obama’s Impending NASA Decisions Posted by: in Politics News eldavojohn writes “From delaying Project Constellation to an additional $2 billion in funding, Space.com looks at some immediate decisions the President Elect will have to make once he takes office in January. The biggest one will be the shuttle plan: do we retire the shuttle fleet or keep it on for more missions? If it is retired, we would have to rely on another country to bring our astronauts into space between 2010 and 2015 as a new fleet is built. Will Obama hold true on his $2 billion pledge to NASA?” Read more of this story at Slashdot. Share This Share This No Comments »

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