Japan Cabinet panel urges ending use of nuke power

(AP) ? A Japanese Cabinet panel called Friday for phasing out of nuclear power over the next three decades in a major shift for Japan as it overhauls energy policy following the Fukushima meltdowns.

Adopting the proposals would be a break with Japan's decades-long advocacy of nuclear power. The new energy policy faces opposition from powerful business interests but phasing out nuclear power is popular with the public. It calls for greater reliance on renewable energy, more conservation and sustainable use of fossil fuels and would see Japan joining Germany in turning its back on nuclear energy.

The new policy requires endorsement by the entire Cabinet. Japanese news reports say the Cabinet has already agreed to the changes.

Japan began reviewing its energy policy following last year's disaster at the Fukushima Dai-ichi nuclear power plant, which was set off by a massive earthquake and tsunami. Before the accident, the resource-poor country relied on nuclear power for one-third of its energy and had planned to raise that to 50 percent by 2030.

"Based on facing the reality of this grave accident and by learning lessons from the accident, the government has decided to review the national energy strategy from scratch," said the policy document. "One of the key pillars of the new strategy is to achieve a society that does not depend on nuclear energy as soon as possible," it said.

Growing anti-nuclear sentiment and mass protests made it difficult for the government and plant operators to restart reactors idled for inspections, and by early May all 50 Japanese reactors had gone offline. Imports of oil and gas for electricity generation have surged as a result and Japan's trade balance has swung into deficit.

Officials acknowledge many questions remain unanswered, among them how to pay for the costly expansion of renewable energy and how to minimize the environmental impact of a return to heavier use of natural gas and other fossil fuels.

The phase-out of nuclear power by the 2030s is to be achieved mainly by retiring aging reactors and not replacing them.

The proposed new policy calls for adhering to a 40-year life span for each reactor and for building no more new reactors. It leaves open the possibility of restarting reactors before they are eventually phased out, but only if they have passed strict safety tests and won approval by a newly formed regulatory commission.

"We will launch all possible policy measures to achieve a nuclear-free society by the 2030s," it said. "Until the total phase-out we will only use nuclear reactors that are confirmed safe."

The new policy delays a decision on spent fuel processing and radioactive waste disposal, leaving open the questions of how Japan will handle its spent nuclear fuel and avoid accumulating stockpiles of plutonium.

"The road to a nuclear-free society is not easy," it says, forecasting economic growth at a modest rate of 0.8 percent annually under a nuclear-free scenario.

Following Japan's 2011 Fukushima disaster, Germany decided to speed up phasing out its nuclear power plants, shutting them down within a decade and betting on renewable energies instead. Nuclear power had accounted for a little more than 20 percent of Germany's needs but has since fallen well below that level.

Energy experts note that relying more on renewable energy is easier for European countries that can draw on surplus power from neighboring countries when volatile wind and solar power fall short. As an island nation Japan lacks that option.

Still, the new policy calls for Japan to increase use of renewable energy by eight-fold over the 2010 level by 2030.

Prime Minister Yoshihiko Noda allowed two reactors to restart in July to avoid power shortages during the hot summer months. At the time, Noda stressed that the restarts were crucial for Japan's economy and energy needs.

His government faces strong resistance to changes in the nuclear policy from business leaders worried by surging energy costs and from utility operators. Towns hosting the 50 reactors ? usually poor, remote fishing villages hungry for subsidies ? also have complained of a loss of income and jobs.

The head of Tokyo Electric Power Co., the Japanese utility that owns the tsunami-hit Fukushima nuclear power plant, has said handling last year's meltdowns ate up money the utility might have used to switch to alternative energy.

To encourage investment in and use of green energy, the government has eased restrictions on land use for solar and wind power and relaxed regulations on small hydropower plants and on drilling for geothermal energy in national parks. It also has approved tariffs for producers meant to spur investment by guaranteeing higher returns for renewable than for conventional energy.

But daunting obstacles remain, including a power grid ill-suited to accommodating volatile solar and wind energy and steep upfront costs for building solar or geothermal plants.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-09-14-Japan-Nuclear/id-4f635943656b48d4b3b9267857db1bd7

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Egan-Jones cuts US debt rating to AA- from AA

FILE-In this July 18, 2012 file photo, credit card logos are seen on a downtown storefront as a pedestrian passes in Atlanta. Egan-Jones announced Friday, Sept. 14, 2012, that it is downgrading its rating on U.S. debt to AA- from AA, citing Federal Reserve plans to try to stimulate the economy. The credit rating agency says the Fed's plans to buy mortgage bonds will likely hurt the economy more than help it. Egan-Jones says the plan will reduce the value of the dollar and raise the price of oil and other commodities, hurting businesses and consumers. (AP Photo/David Goldman, File)

FILE-In this July 18, 2012 file photo, credit card logos are seen on a downtown storefront as a pedestrian passes in Atlanta. Egan-Jones announced Friday, Sept. 14, 2012, that it is downgrading its rating on U.S. debt to AA- from AA, citing Federal Reserve plans to try to stimulate the economy. The credit rating agency says the Fed's plans to buy mortgage bonds will likely hurt the economy more than help it. Egan-Jones says the plan will reduce the value of the dollar and raise the price of oil and other commodities, hurting businesses and consumers. (AP Photo/David Goldman, File)

(AP) ? Egan-Jones, an independent credit-research firm, downgraded its rating on U.S. government debt to AA- from AA on Friday, citing the Federal Reserve's plans to try to stimulate the economy.

The credit rating agency said the Fed's plans to buy mortgage bonds will likely hurt the economy more than help it.

The plan will weaken the value of the dollar and push up prices for oil and other commodities, Egan-Jones said. That would leave less for consumers to spend on other things.

But at the same time, Egan-Jones warned that the federal government's borrowing costs are likely to slowly rise as the global economy recovers.

On Thursday, the Fed said it would buy $40 billion of mortgage bonds a month to help the economic recovery.

It's the second time the Haverford, Pa. shop has downgraded U.S. government debt in five months. In April, Egan-Jones lowered its rating on the U.S. to AA from AA+. It stripped the U.S. of a top AAA rating in July 2011.

Sean Egan, the company's founder, has long railed against the power of the three major rating agencies, Moody's Investors Service, Standard & Poor's and Fitch Ratings. Egan-Jones Rating Co. is one of 10 firms the Securities and Exchange Commission recognizes as a rating organization.

Earlier this week, Moody's said it would likely lower its "Aaa" rating on U.S. government debt if budget negotiations fail.

Standard & Poor's stripped the government of its "AAA" rating on its bonds in August 2011. Fitch Ratings issued a warning of a potential downgrade.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2012-09-14-US%20Downgrade/id-9a6cbe4ea24d4db5959b4f53aa8f044a

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Relocate settlers across India

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Sealing of the border and raising a Rapid Reaction Force is the need of the hour

Show of concern, finger-pointing and headlong panic have been in sharp national focus in the aftermath of this summer?s tragic outbursts of violence in Assam?s Kokrajhar district and its adjoining areas that has cost nearly 100 lives and caused the flight of hundreds of thousands of toiling peasants and their fearful families to relief camps.

Congress and the Opposition stalwarts have been making televised pilgrimages to the camps, calling for showering of solace amid rounds of blame-game, while thousands of North-Easterners rushed home from mainland India in trainloads, succumbing to SMS and MMS threats by cyber-manipulators. Instead of being engrossed in dramatics and hysteria, this should in fact be a time for the Assamese, the North-East?s other indigenous populations, their leaders and their youth to reflect on at least three lessons from the violence.

The first is the urgent need to begin single-minded efforts to persuade the central government to settle illegal Bangladeshi immigrants, from an agreed cut-off date, in areas outside Assam and outside other North-Eastern states. In a word, the illegal immigrants should be dispersed across all regions of mainland India. The country as a whole, even excluding the North-East, should easily be able to take in several million outsiders. But?for the precariously small Assamese and other indigenous populations of the North-East it becomes catastrophic for their future to continue to provide shelter to unlimited numbers of immigrants. Had the Assamese or Bodo populations been as large as, say, the Tamils in Tamil Nadu, Marathis in Maharashtra or any other of major indigenous groups in other States, worries about inflows of immigrants into Assam would not have been as acute as now.

The second lesson from the recent violence is the urgency of redoubling efforts to seal the border. It may never be fool-proof but a well-guarded, walled or fenced border would restrict the flow of?migrant settlers. It is not only the border with Assam that has to be sealed but also that between West Bengal and Bangladesh as immigrants entering West Bengal?can easily take a train to Assam. Sealing of the border has to be a prerequisite to any relocation plan. Otherwise it would encourage a flood of new illegal immigrants, defeating the purpose of dispersals. This danger has to be kept in mind.

The third lesson is the need for a rigorously trained rapid reaction force. It can be equipped with super-fast means of transport such as helicopters to nip violence in the bud. The North-Eastern states, with Assam in the lead, can press Delhi for such a force if they cannot set up crack units within their police forces.?Updating the National Register of Citizens (NRC) ? seen as crucial for implementing the 1985 Assam Accord?by giving citizenship only to immigrants who have lived in the country on or from before March 25, 1971- has so far occupied centre-stage for identifying?illegal immigrants.

If it is really viable, it can go hand in hand with the settler dispersal plan. But NRC updating, so far the linchpin of the accord, has to be closely examined to see if it has not in effect become an unintended block to getting rid of illegal immigrants. Repeated delays on completing work on it have had the effect of keeping the trespassers where they are indefinitely.

Photo: Paolo Cuttitta

Since the accord was signed by Delhi and leaders of the mass movement in Assam against illegal immigrants, the updating of the NRC has been making little headway for over a quarter century. Successive governments, whatever their political hue, have failed to act meaningfully to take the updating process forward. Sensitivities involved in pinpointing illegal immigrants,?opposition from vocal minority groups, stratagems by settlers to stay put, besides the sheer volume of work needed, have come in the way.

With time passing, it would cost the Assamese and other indigenous people dearly?if their future is chained solely to updating the NRC. Other lawful means that bypass laborious and time-consuming procedures must be found to quickly identify illegal immigrants.

Intelligence sources cited in a Tehelka magazine report estimate that four crore Bangladeshi infiltrators have made India their home, with the bulk of them residing in Assam. How the estimate was made is not explained. It would be useful to know what identification methods were used. If these can be made transparent, perhaps at least one quick alternative way can be found to identify trespassers.
The logical step after identification is moving out the illegal immigrants. This will call for a stupendously difficult exercise, whether it is expulsions from the country or relocation within India as suggested here. As for deportations, on a scale actually beneficial to Assam, a question to ask is: are they feasible or just a fantasy chased by those who passionately believe the state cannot allow itself to become a second Bangladesh?

No democratic government in India, for purely humanitarian reasons, if not for opposition from Dhaka, uproars across the nation from minorities, and international outcries, is likely to be capable of pushing immigrants on a mass scale back to their homeland. Still, deportations must not be abandoned. ?It should always be feasible to carry out limited deportations, and especially of the very latest arrivals wily enough to penetrate the border even after it is sealed completely. The threat of deportations has to be used against illegal immigrants bent on foiling dispersals.

The settlers, whatever their dates of entry, have never been known to be faint-hearted enough to be labelled as outsiders. But freeing the state and the North-East of illegal immigrant and putting a halt to fresh influxes are regarded by the region?s indigenous communities as pivotal to their future.

Relocation within India, even if fraught with formidable challenges, cannot raise the kind of objections that can freeze large-scale deportations.?Those relocated?can be given rights to residence outside the north-east, with legal titles over land and property. Dispersals can be made even more attractive by working in so many benefits such as cash doles, irrigation and other facilities that the settlers will find it hard?not to come forward to?make use of the opportunity of being transported to a secure future.

The States without worries about their local populations losing their identity can view their share of immigrants in a positive light: even those hostile to them cannot deny they are highly industrious, ever ready to acquire new skills. They can be assets instead of liabilities to the host States, contributing significantly to the economic growth of areas where they are safely settled. The north-east, because of the smallness of its indigenous populations in danger of being swamped to oblivion, is in no position to absorb them.

It is common to demonise immigrants as infiltrators with ulterior designs on Assam but use of such language serves no useful purpose as the reality is somewhat different and vitiates the atmosphere, making resort to violence more likely.

It would be more accurate to describe most immigrants- barring minorities such as Hindus fleeing persecution and who undeniably need special protection- as a desperate lot forced by economic peril to leave their homes for a better life in a land not far away, and which happens to be Assam and other North-Eastern states.

If the border?is not thoroughly sealed, poverty, combined with an exploding population in Bangladesh- and, at a not too distant future,?rising sea levels from global warming that?could submerge parts of that country- will continue to send?waves upon waves of migrants to the North-East. The settlers have nothing to lose in trekking out of their country. They will, therefore, put up every possible struggle to stay on in their new-found haven in Assam?s reserved forests, unguarded fields or whatever is left of riverine areas that have not been taken over by earlier immigrants. Their resolve to dig in comes amid escalating land prices, which possibly galvanises them to hold on to whatever land they occupy, whatever be the price in terms of hardship or violence.

With?immigrant staying put, and even expanding settlements with the help of freshly arrived kinfolk and branching out into various trades and occupations, the indigenous people?s resentment remains on the boil, their fear of losing their hearths, homes, and identities propelling them to become as desperate a lot as those tossed away by poverty. Desperation, a potent fuel for mayhem has to be dealt with before time runs out and?fear turns into violent upsurges. An issue that becomes pertinent and needs answers from Delhi and India as a whole is: why should Assam alone in particular and the North-East be left with the sole responsibility of providing land and means livelihood to immigrants?

What about the rest of India? ?Why shouldn?t other major states not share a responsibility that is national in character?

A civilised nation cannot turn its back on any set of people, even if they are illegal entrants. Be generous to them by all means. But why, for all practical purposes allow them to overcrowd one particular region, Assam in particular, thereby literally choking the future of its people? It has been disingenuous?and unjust on the part of the central government?to show concern when violence occurs but continue business as usual by putting the entire burden on the north-east of finding shelter for livelihood seekers from another country. Assam?s land and resources are as limited as most other states. ?Its demographic balance is feared to be tilting menacingly against the locals because of the trespassers.

Recurrent fears about being outnumbered can morph lethally- lethally due to the possibility of violence- into universal feelings among locals that if illegal settlements continue, it will only be a matter of time before the indigenous populace suffers the fate of the Pandits in Kashmir- a once-thriving community exiled in the 1990s from their ancient habitat by Taliban-like fundamentalist groups. Such organisations could be present in the North-East as well. Recent news reports say central intelligence agencies are putting under scrutiny at least 14 groups?whose activities are suspected to be ?inimical? to peace and social harmony. ?All these organizations have come into existence in the last 20 years. While many of them are believed to have external links, some are engaged in militant activities,? an official was quoted as saying in a Times of India report.

The organisations listed in the report carry names such as Muslim Security Council of Assam, United Liberation Militia of Assam, Islamic Liberation Army of Assam, Muslim Volunteer Force, Muslim Liberation Army, Muslim Security Force, Islamic Sevak Sanng and Islamic United Reformation Protest of India. The report said others include Revolutionary Muslim Commandos, Muslim Tiger Force, Muslim Liberation Front, Muslim Liberation Tigers of Assam, Muslim United Liberation Front of Assam and Muslim United Liberation Tigers of Assam. With a plethora of such groups in the region, the North-East?s local communities have much to fear. But so do settlers, at risk of becoming embroiled in sudden upsurges of violence.

In short, fear appears to have become pervasive in the North-East- fear among the indigenous communities of becoming strangers in their own land, and fear among immigrants of being targets?of violence. If fear is to be removed, the authorities have to come out with a specific plan, not mere verbal assurances, that meet the needs of both the indigenous and settler communities. Without a specific plan,?the region will remain dark with fear, a darkness that breeds heart-rending but avoidable violence.

As deportation on a mass scale is unlikely to be feasible, a systematic plan to give shelter, land and means of livelihood to migrant settlers across India, excluding the North-East, will go a long way to remove fear, both among the region?s indigenous populace and the trespassers.?Such a plan should come with the build-up of a rapid reaction force to deal with any abrupt?explosions of rioting. Everyone knows time is of the essence in dealing effectively with violence or crime. Had there been a rapid reaction force, it would have been easier to snuff out the latest clashes in the Kokrajhar region.

While quick police or army action is critical to saving lives and reducing the extent of violence, it cannot be a durable solution for group-wide flare-ups. Deep-seated suspicions and hatreds have to be handled with painstaking efforts and specific plans of action.
In the case of Assamese and Bodo-inhabited areas, growing fears about being outnumbered have to be dealt with upfront- by moving out illegal settlers and stopping fresh influxes from across the border.

The North-East alone cannot solve the issue. The nation as a whole has to take it up as a challenge to be conquered. But it is for the leaders of the north-east and its?people to push the central government and the rest of the country to come to their aid. It may be naive to expect the other states, even without a single worry about their populations losing their homes or identity, to cooperate. Delhi could very well dodge the issue, offering no specific measures to move out immigrants because of the scale and cost involved, not to speak of calculations considered decisive for vote-dependent governments. ?An unhelpful course would be perilous for the north-east?s local populace as well as the settlers, and the nation itself.

Time to act is now. ?Those at the helm can consider drawing up a programme on a scale similar to the Marshall Plan- which succeeded in regenerating the economies of European countries after the Second World War- to resettle illegal immigrants across the mainland. ?Governments in the North-East can unite to bring sense to Delhi to protect the region?s indigenous populations and solve the immigration issue in as humane a way as possible. Even new settlers can cooperate as imaginative dispersals within India would provide them with a future they can be happy to look forward to while removing fear and resentment among the indigenous populace.

Hiren Phukan has worked as a journalist in India, Malaysia and Singapore.

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Source: http://pragati.nationalinterest.in/2012/09/relocate-settlers-across-india/

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FL Goes After International Negotiation | Forrest Computer Repair

// September 15th, 2012 // Blogs

After a growing list of blunders, FL Gov. Mr. Scott pushed through yet legislation into law which the FL Supreme Court had to turn down. It seems the main objective of his four years in office must be to set the checks and balances system to the test. In lieu of reading the law and taking his position sincerely, Mr. Scott appears thrilled to sign any sheet of paper which is set in front of him. The newest law forbids Florida county administration offices from doing business with any corporation who also did business with Syria. You can pour over the full tale at the Huffington Post?s site, giving you a complete editorial.

While the objectives may have been good, the execution was terrible. A gigantic outcry by the Florida Chamber of Comm. did not persuade Scott from authorizing the ridiculous bill. He later had to revoke his autograph, confessing that the law went against federal rules. Business law can be a complicated matter, if it be dealing with corporate contracts or bankruptcy. When unsure, mull over the information on Keith D. Collier?s website.

The U.S. Constitution and the couple hundred years of laws pushed through since its development have shaped a fairly knotted mess of official things to learn. It can be a hard path to navigate, however with the aid of a well-read attorney, you will do well. For some of you which are intrigued, here are additional thoughts when approaching agreement or company regulations:

When reviewing any contract or agreement, be sure to consider the intentions of the other party; this may easily help you sort out issues. When you are looking at franchising or licensing your venture, go ahead and learn about the legalities regarding these business types. If you?re worried about dealing going south, get the agreement notarized when signed off of. Whether it has to do with your professional or personal life, constantly execute a thorough assessment of your liabilities.

Keep in mind that the Family and Med Leave Act rules over much of the circumstances surrounding time off for employees. When setting up your company, be certain to choose the right entity designation that works for your company. If you are looking at legal punishments, don?t procrastinate, but cease action immediately. When signing a business agreement, be certain to mull over the consideration portion extremely cautiously. When you are putting together your first contract, begin with the heading overview which displays the precise parties getting into the contract.

Source: http://www.forrest2011.com/fl-goes-after-international-negotiation/

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DR. SETH: RELATIONSHIP, PARENTING & LIFE ADVICE: Long ...

Simply put, long distance relationships are challenging. Distance makes it difficult to sustain an emotional and physical connection with your partner. It can also bring out insecurities in one or both partners. For reasons such as these, the odds are truly stacked against those of you who go head to head with the one-eyed distance monster.

If you are going to give a long distance relationship a shot, try using the following techniques to ensure that your relationship has a decent chance at lasting.

Tip # 1: Tell your partner what your long-term goal is for the relationship, and ask him or her to share the same. Marriage? Living together? Living in the same city? Be clear from the beginning.

Tip # 2: Have a ?Fears Discussion.? Tell your partner ?I?m kind of afraid if we live apart for too long that you might?or that I might?? Again, ask your partner to share his or her fears. This is how intimacy develops.

Tip # 3: Set fixed times to communicate on the phone.

Tip # 4: Arrange a visiting schedule that will allow you to see each other regularly and stick to this schedule.

Tip # 5: Be honest if you start feeling disconnected from your partner, and ask your partner to share the same feelings if he or she has the same feelings ? at that point or ever!

Again, these relationships aren?t easy, but nobody said that true love is a walk in the park. Arm yourself with good coping skills and you will be better off in the end - in your long distance relationship, as well as all of your other relationships in life.

PLUS: Check out my book, Dr. Seth's Love Prescription which shows you how to stop repeating bad patterns in your romantic relationships. I shed light on the four patterns that get repeated the most: saving wounded souls; focusing too much on a specific, physical type; fear of intimacy and denial; and getting involved with people who are physically, verbally, or psychologically abusive.

Source: http://drseth.blogspot.com/2012/09/long-distance-relationships-5-steps-to.html

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Starving polar bears a sign of warming Arctic

A recent voyage by the National Geographic Explorer ship to the Arctic captured a female polar bear fighting a male for food. NBCNews.com's Dara Brown reports on the trip, which allowed experts to evaluate the environmental changes in the Arctic.

By Miguel Llanos, NBC News

Wildlife biologist Ian Bullock is a seasoned visitor to the Arctic, but even he was surprised by what he saw last month: a thin female polar bear, shadowed by her cub, trying to challenge a much bigger, stronger male for food.

It wasn't much of a challenge, but it showed just how desperate she was, Bullock told NBC News on returning from his 10th straight summer cruise to the Arctic.

That desperation, he feels, stems from the fact that the Arctic's summer sea ice ? which polar bears using as floating stations from which to hunt seals ? has been shrinking over the last few decades due to a warming Arctic, forcing polar bears into smaller areas and more intense competition.?

"She was the thinnest female with cub I have ever seen," he said. "She had a single cub which implies she has already lost one other cub this year.

"If she cannot feed, she cannot suckle her cub; with a hungry cub it is even harder for her to hunt effectively, so from what I saw her last cub is at risk and ultimately so is she," he added. "This is why she was challenging a big male with food. She was hungry enough to take a big risk."?


In a video filmed during the National Geographic Explorer cruise to the Arctic's Svalbard region, Bullock said it looks like that reduced ice is "really putting the bears under stress."

"The worst thing is when we've encountered bears, we've found them really packed in tight, in the last little areas of fast ice attached to land, or the last little patches of pack ice at sea," said Bullock, who served as a guide on the cruise ship. "And there they've been in competition."

Polar bears are listed as "vulnerable" and in decline by the International Union for Conservation of Nature, which estimates the population at no more than 25,000 across the Arctic.

The U.S., which has two Arctic regions where polar bears live, in 2008 listed its population as "threatened".

Last year, researchers cited three incidents where polar bears might even have resorted to cannibalism due to warming and reduced sea ice.

The diminished sea ice also got the attention of the National Geographic Explorer's skipper.

Captain Leif Skog told NBC News that he had e-mailed his boss, Sven Lindblad of Lindblad Expeditions, to describe "a shocking escalation of the reduction of sea ice."

One data graph he monitored daily, showing the total volume of Arctic sea ice, "could be called the death spiral of the Arctic sea ice," he said in his e-mail to Lindblad.

Because of the reduced sea ice, he added, the cruise was able to visit northeast Greenland "a month earlier than what was normal in the past."

"We expected to face some sea ice but everything was gone in the fjords upon our arrival," he added. "The sea water temperature in the fjords was also unbelievably high."

Another expert on the cruise called the outside temperature "surprisingly warm."?

"It was T-shirt weather," Paul Berkman, an environmental science professor at the University of California Santa Barbara, told NBC News. Berkman noted two other major Arctic developments over the summer:

Berkman said the polar regions, and the Arctic in particular, show an "amplified response" to a warming climate ahead of other parts of the globe.

That response is twofold, he adds: Arctic temperatures have warmed 3-6 degrees F above the global average, and reduced ice removes huge amounts of reflective white from the sea and reveals a dark sea that absorbs heat.

The sea ice is like "a giant mirror on Earth's surface" he said. "Without summer Arctic sea ice, more heat from the sun is absorbed into the Earth system, which is a feedback that further accelerates warming of our climate."

More world stories from NBC News:

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Source: http://worldnews.nbcnews.com/_news/2012/09/13/13830880-warming-sign-in-the-arctic-starving-female-polar-bear-challenges-male-for-food?lite

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New round of quantitative easing biggest yet?

CHICAGO (Reuters) - The U.S. Federal Reserve's third round of bond-buying could ultimately rival the size of its first huge quantitative easing, which was widely seen as boosting growth.

The sheer scale of the program and the radical shift in policy it marks will shape the legacy of Fed Chairman Ben Bernanke, whose term may end before the buying is through.

The Fed initially disappointed some investors on Thursday when it said it would buy $40 billion of mortgage-backed securities each month. That is far less than the $75 billion a month it bought in its second round of bond-buying, or the more than $100 billion monthly tab for its first round.

But this time, the Fed has promised that "if the outlook for the labor market does not improve substantially," it won't stop buying and could ramp up its spending further.

Depending how the Fed defines "substantially" and how long it takes to get there, it could end up buying bonds for several years, adding $1.7 trillion or more to its balance sheet, analysts say.

By comparison, the Fed's initial round of quantitative easing, first announced in November 2008 as the U.S. economy slumped into a deep recession, totaled $1.75 trillion .

"They've clearly committed to do what it takes to get unemployment down where they want it," said Pierre Ellis, an economist at New York-based Decision Economics. "There's no limit."

To Ellis, the "big bazooka" of open-ended bond purchases -- designed to boost the economy by lowering borrowing costs -- won't have much immediate impact because the economy's main headwind is uncertainty over fiscal policy and the outcome of a presidential election.

That's a view shared by several of the central bank's hawkish members.

U.S. Treasuries sold off broadly on Friday and 10-year and 30-year debt yields rose to their highest levels since May as the new stimulus spurred risk-taking in stocks, reducing demand for bonds, and as bond investors feared inflation from the program.

Disappointment that Treasuries were not included in the central bank's third round of quantitative easing added to the selloff, traders said.

A rise in long-term yields runs counter to the goals of the program, which include pushing down long-term borrowing costs.

Bernanke, whose term ends in January 2014, sought on Thursday to tamp down worries that he is aiming for higher inflation, which is near the Fed's 2 percent target. The goal, he said, is to bring down unemployment, which at 8.1 percent is well above what most economists believe it should be.

Still, he acknowledged the possibility that the Fed could tolerate some period of higher inflation.

"If inflation goes above the target level, as we talk about in our statement in January, we take a balanced approach," he said at a press conference following the Fed's policy shift. "We bring inflation back to the target over time but we do it in a way that takes into account the deviations of both of our objectives from their targets."

Many analysts say the Fed's latest program may exceed its predecessors in size, and more importantly, also pack the desired punch.

"We believe that with a strong commitment from the Fed, progress in Europe and the passing of the U.S. election, the U.S. economy will have a pretty decent shot at achieving above-trend growth in 2013," Julia Coronado, an economist at BNP Paribas, wrote in a note to investors.

Thursday's announcement could add another $1.2 trillion to $1.7 trillion to the Fed's balance sheet, she said.

TIED TO THE MAST

The Fed has kept short-term rates near zero since December 2008, and Fed Chairman Ben Bernanke has led the U.S. central bank into ever-newer territory to lower real rates further.

After the first round of bond-buying in 2008 and 2009, the Fed resorted in 2010 and 2011 to a second round to ward off deflation as the recovery faltered.

As he doubles down on quantitative easing, Bernanke's approach looks flexible enough to win support from both ends of the Fed spectrum - the doves who want more easing to bring down unemployment, and the hawks who worry that more easing could overheat the economy and spark inflation.

"Everybody likes tying it to economic conditions," said Paul Ashworth, chief U.S. economist at Toronto-based Capital Economics. He estimates the program could eventually grow to between $960 billion to $1.44 trillion in size.

"The doves like this because they think the markets will think it's even bigger" than QE2, he said. At the same time, "it gives the hawks something, that if the economy picks up, they can get this stopped."

The Fed did not say how big it expects its latest program to be, but the clues are plain in its quarterly economic forecasts, also published Thursday.

Only three Fed policymakers expect the unemployment rate, now at 8.1 percent, to fall more than half a percentage point by the end of next year.

If the Fed sees 7 percent as substantial progress, the forecasts suggest continued bond buying through late 2014; if a bit lower, bond-buying could be needed through mid-2015, Ashworth said. Underscoring that interpretation, the Fed said Thursday it expects to keep rates low until at least then.

Before the crisis, unemployment was closer to 5 percent.

Chicago Fed President Charles Evans has spent the last year arguing strongly for the Fed to tie monetary policy more closely to economic milestones by vowing to keep rates low until unemployment fell below 7 percent.

Doing so, he says, would avoid the temptation of backing off from easing at the first signs of economic strengthening. In a series of speeches in recent months, he has likened a strong Fed commitment to low rates to a modern-day Ulysses tied to the mast of his ship, prevented from responding to the siren call of premature monetary tightening.

While the Fed did not embrace Evans' 7-percent unemployment rate target, it did adopt his view that the Fed should hold fast to easy policy even after the recovery picks up speed -- a historic shift in policy.

DON'T STOP 'TIL YOU GET ENOUGH

Any eventual ceiling on the size of QE3 looks sky-high. The Fed may only buy Treasuries and agency-backed debt, and some Fed officials say it has bought nearly as much of the U.S. national debt as it can without impairing the market's function.

But with mortgage-backed securities, there is plenty room to run: economists estimate the size of that market at more than $7 trillion, although the Fed would need to avoid disrupting the market's function.

Michael Gapen, an economist at Barclays, sees QE3 topping out at $700 billion - slightly more than the second round of quantitative easing, but less than half the first.

The impact, he said, could be limited to boosting economic growth by a few tenths of a percentage point, although that could be enough to generate momentum.

"If you can keep the economy persistently above trend, then that has a self-reinforcing effect," he said.

Combined with the European Central Bank's vow to buy as many bonds as needed from euro zone states -- on condition they undertake reforms -- QE3 "has the potential to be very positive for the U.S. economy," Gapen said.

However, he said one real threat to the economy remains: a raft of tax increases and spending cuts that will automatically take effect at the end of the year unless Congress acts.

But if lawmakers successfully avoid the so-called fiscal cliff, the outcome for the economy could beat expectations and ultimately trim the size of QE3.

(Additional reporting by Karen Brettell; Editing by Dan Grebler)

Source: http://news.yahoo.com/round-quantitative-easing-may-biggest-yet-153819608--business.html

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Western Digital brings wafer thin 5mm hard drives to IDF, we go hands-on (video)

Western Digital brings wafer thin 5mm hard drives to IDF, we go hands-on video

We're a jaded bunch here at Engadget sometimes, and with most of us using SSD-based systems these days it's hard to get too excited about good old spinny disks. Still we're also suckers for impressive technology, so our interest was piqued when Western Digital announced its 5mm thin 2.5-inch hard drives the other day. Luckily, the company saw fit to bring samples of its skinny new WD Black hybrid drive and WD Blue HDD to IDF 2012 and let us handle both briefly. The verdict? These are impossibly thin -- perfect for all those nice Ultrabooks we're expecting to see hit the market in the next few months. Details on performance, availability and pricing are scarce since these drives are intended for OEMs. Take a look at our gallery below, which includes thickness comparisons with WD's upcoming 1TB 7mm thin HDD and a standard-sized loyalty card -- then peek past the break for our hands-on video.

Update: yes, the loyalty card was demagnetized in the making of this video, and you now owe us all coffee.

Continue reading Western Digital brings wafer thin 5mm hard drives to IDF, we go hands-on (video)

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Source: http://www.engadget.com/2012/09/12/western-digital-brings-wafer-thin-5mm-hard-drives-to-idf-we-go/

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Man after 4 months adrift at sea: Get me a 'smoke'

By NBC News

A fisherman who was found alive after drifting in the Pacific Ocean for nearly four months had one request, according to a report on Friday: Get me a "smoke."

Agence France-Presse, citing the Marshall Islands fishing vessel that found the fisherman, said the man was healthy but a friend who had set sail with him on May 28 had died.


The rescued fisherman was named Toakai Teitoi, AFP quoted fisheries observer Ali Ezekiah as saying in a radio message from the rescue vessel to an onshore agent. He was reportedly from Kiribati, an island nation in the Central Pacific.

Teitoi was found by the Marshall Islands fishing vessel Marshalls 203 on Sept. 11, northeast of the tiny island nation of Nauru, AFP reported.

"When the crew brought him on to the fishing boat and asked him what he wanted, the first thing he said was 'smoke,'" or a cigarette, AFP quoted Ezekiah as saying.

Complete World news coverage on NBCNews.com

The vessel was due to dock in Majuro, the capital of the Marshall Islands, this weekend, the news agency said.

Teitoi told his rescuers that his 45-foot boat had suffered engine trouble, AFP reported. He survived by eating fish and drinking rainwater, but his friend died on July 4, according to the report.

It was not immediately clear from where Teitoi set sail. Majuro is more than 400 miles from Tarawa, the capital of Kiribati.

According to the BBC, the Guinness Book of World Records says the record for drifting at sea is held by two fishermen, also from Kiribati, who drifted for 177 days in 1992 before finally landing in Samoa.

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Source: http://worldnews.nbcnews.com/_news/2012/09/14/13858307-get-me-a-smoke-fisherman-says-after-four-months-adrift-in-pacific?lite

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What the iPhone 5 Can Do that the Old iPhone Couldn't

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Source: http://news.yahoo.com/iphone-5-old-iphone-couldnt-220000843.html

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