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On Monday, Skype representatives announced that their senior management team now included two additional experimented members. Starting with next month, Neal Goldman will become the new Chief Legal and Regulatory Officer and this position will require him to oversee all legal and regulatory issues affecting Skype. The second staff addition is Doug Bewsher,… (read more)

The World Wide Web or as we all know as the “Internet”  has been very useful and fun to use especially now with the escalation of social networking sites like friendster, twitter, facebook and many more.  So what do all these sites have in common? Cookies!  Yes, Cookies!

You might find the term funny but this is very useful to both the internet users and for the sites (like those stated above). Cookies identify you to the site. They store settings about your preferred customized look and feel for the pages you view, your username and encrypted password or user id, who referred you to the site, profile preferences, and just about any kind of information the administrator want them to store to customize your user experience. Cookies are most commonly used to give you access to login protected pages once you’ve entered your information, identify you in content that you changed on the site like for example forum posts or article comments. Again, cookies will function as their creators have written them to function. This sounds like a simple, obvious statement, but it must not be overlooked because cookies are also vulnerable to exploits and hacks.

So basically cookies serve as your passport to secure sites. So whenever you are logging-in a site like facebook, always remember that there’s a cookie behind that.

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The original meaning came from one who bandaged wounds. In the Old Testament there is very little said about the physician, for the priest was also the healer and, with the midwife (Ex. 1:15-16), was responsible for community health. Midwives were competent people who could handle difficult births with skill. Consider the midwife who turned the baby during the breech birth of twins in Gen. 38:27-30. Disease in the Hebrew tradition was not fought by magic abut was regarded as a result of a person’s relationship with God. There were strong laws concerning community health. God was the healer (Ex. 15:26) and the physician was literally the one who sewed together and bandaged. The earliest surgery was circumcision in Abraham’s time. Flints were used as scalpels.

In the Apocrypha there is a great description of a foreign-trained physician at work (Eccles 38:1-15).

In the New Testament Jesus quoted proverbs that complimented the healer’s skill (Matt. 9:12). He was seen as the Great Physician. The word Saviour means both the saviour from sin and the healer of the body. The power of Jesus over sickness was a description of His power over sin. Faith was integral to healing (Luke 7:50; Mark 5:34).

Luke, “The Beloved Physician” (Col. 4:14) showed by his use of medical terms both in the Gospel and in Acts that he was well educated in the Greek medical skills, possibly a Graduate of the famous Medical School of Tarsus, the home of Paul. Some expositors, however, show that Luke’s use of medical terms was not beyond that of a highly educated non-medical Greek of his day.

In the Apostolic church healers were part of the team ministry (1 Cor. 12:28). James (5:13-16) outlines the procedures for anointing the sick.

FOR TODAY
Mark’s sideways comment (not found in Luke or on AMA publications!) that the haemorrhaging woman “had suffered much under many physicians and had spent all she had, and was no better but rather somewhat worse” is a statement of fact, a common depreciation of the fine work done by physicians on people with impossible illnesses. It is also a reminder that in this day, when belief in the magic bullet of a pill equals that of primitive superstition, that the physician is not omnipotent.

Galen, the gifted second century physician to the Emperor Marcus Aurelius and his son Commodus, who healed mental illness with the first application of shock therapy, also spoke of the task of all physicians: “I bind his wounds but God heals him.”

Many of the words that people use of illness today e.g. affliction, blow, plague, scourge, show how strong the traditional belief still is that suffering is a divine punishment. Both medicos and ministers have a task to educate people in an understanding of suffering. The magnificent Hippocratic Oath, a basis for medical ethics, should also be taken by pastors as a basis for their pastoral care. Ministers, please note and inwardly digest.

The missionary field is an outstanding illustration of the great work done by the physicians who have gone in the name of the Great Physician. We pay tribute to these doctors and nurses who, on the frontiers of the faith, have brought health and salvation.

There is still an urgent need for the priest-healer. Many illnesses have mental, emotional and spiritual causes that are not eradicated by the scalpel or a prescription. The word “salvation” means healing and it implies a healthy and integrated person, physically, mentally, socially and spiritually. The work of salvation is making men whole.

REV THE HON DR GORDON MOYES AC MLC

Japan is launching its first Venus probe and along with it they’re sending Ikaros, a “space yacht” also known as the Interplanetary Kite-craft Accelerated by Radiation of the Sun. Yes, Japan is sending a gigantic kite into space: More »










Space – Technology – Japan Aerospace Exploration Agency – Sun – Venus

Eco Factor: Low-emission concept vehicle powered by a hybrid engine.

The brainchild of Spanish car designer Daniel Garcia, the Audi A9 concept is a low-emission hybrid vehicle for the future. The windscreen and the roof of the vehicle are formed of a futuristic nanotech material that repairs itself automatically if damaged.

The A9 would be positioned higher than Audi’s current flagship model, the A8, and is aimed to compete with other high-end luxury saloons on the market. Other futuristic additions include bodywork with a unique “electronic paint” that enables the vehicle to change color at the touch of a button.

The designer is proposing a low-emission hybrid setup to power the vehicle. This advanced setup will include an internal combustion engine working along with four in-wheel electric motors.

Via: Diseno-Art

A new Assassin’s Creed II retail version has been announced to be coming out later this June. This was confirmed by Ubisoft, and it’s been revealed that this new version will be tagged wtih the “Complete Edition”

ESPN reporter Erin Andrews has been videotaped naked in her hotel room. The video is circulating the net and now it contains a virus.

Somehow the peephole video helped Erin Andrews to get into the spotlight. It gave her even more publicity, specially now that she’s one of the favorites in Dancing With The Stars 2010.

The video was taken by a man named Michael David Barrett. He shot the nude video through several different hotel room peepholes. Erin Andrews filed a case against him and he was sentenced on March 15, 2010 to 30 months in prison.

In court, Andrews said to Barrett, “You violated me and you violated all women. You are a sexual predator, a sexual deviant and they should lock you up.”

The Erin Andrews peephole video was a top internet search on the Google. Many people are searching for it and probably wants to watch it. But curious surfers should think twice before watching it, because it has a virus.

When you download and watch the video, your computer will have a malware. Virus makers are using the Erin Andrews peephole video as a trap to infect Apple Macs and Windows PCs with malware.

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Eco Factor: Portable charger harnesses renewable solar and wind energy.

Designed by Cheng Peng, the Mobile Energy is a portable charger for camping enthusiasts. The concept device harvests solar and wind energy to recharge a variety of handheld devices. The device features solar panels onboard the blades of a small wind turbine which makes sure that renewable energy can be generated when either of the two sources is available.

Mobile Energy also includes a powerful LED torch to light up camping nights sustainably. The fan can be removed from the system to ease storage and also use the device as an indoor light source.

Via: YankoDesign

American Idol alum Chris Daughtry and his wife Deanna Daughtry have announced that they are expecting twins this November via surrogate mother. “Deanna and I are overjoyed about this double blessing,” Daughtry, the Season 5 fourth-place finisher, said in the statement. “Thank you for your expressions of love and support and for respecting for our privacy during this special time.” “Due to Deanna’s partial hysterectomy in 2006, the couple used IVF and had their embryos transferred to a gestational surrogate,” stated in Daughtry’s site.The twins were conceived through In Vitro Fertilization (due to Deanna’s partial hysterectomy four years ago), and were transferred to a gestational surrogate who will carry them and will give birth to them. The couple was married on November 11, 2000. Daughtry and his wife already have kids prior to the twins. Daughtry, 30 years old, has two children: a stepdaughter, Hannah, born September 7, 1996 from his wife’s previous marriage, and an adopted son, Griffin, born June 30, 1998. Daughtry was born in Roanoke Rapids of North Carolina, and raised in Lasker, North Carolina, until he was 14.They later moved to Virgina, where Daughtry grew up before he relocated to McLeansville of North Carolina. His family of four will soon become a family of six thanks to the miracles of modern medicine and the kindness of a surrogate.

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MMMOOO let us know about a new theme of their’s that is available in the BlackBerry App World for $5.99. I Love Rock And Roll captures the moment of the concert aura in the city, with blues and purples and hands in the air, you almost feel like playing a game of Rock Band. Lively and colorful, check it out…

There’s not too much in the description so I’ll show you what I have. I downloaded and installed this theme on my BlackBerry Tour 9630. You see two silhouettes of people singing with their microphones and arms raised, and the hands of the crowd in the homescreen. The battery life indicator is a black tube with purple juice, and sits on the top left. The microphone on the top left cleverly disguises the signal strength indicator in purple waves. The time and date sit in the center. There is a row of six customizable icons on the very bottom.

As you can see, very colorful. Click on the options button and you see all the icons. Icons are all playful cartoon-like and fun. The lettering is different too. The highlight bar is purple. All the icons are familiar and the theme is great for those who love music. The lavenders, purples, and blues all look great. The two silhouetted singers are the background for all folders.

I swear I could hear Rock Band calling me and hear the roar of the crowd with this theme. It’s pretty lively.

You can grab a copy of I Love Rock And Roll Premium Theme by MMMOOO for $5.99 from the BlackBerry App World here

You’re reading a story which originated at BlackBerrySync.com, Where you find BlackBerry News You Can Sync With…

This story is sponsored by the new BlackBerry Sync Mobile App Store. Grab your free copy today at www.GetAppStore.com from your BlackBerry.

I Love Rock And Roll Premium Theme By MMMOOO, Bring The Concert To Your BlackBerry

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It was reported last week that General Motors is working with Google to come up with a rival in-car technology system to Ford’s Microsoft SYNC – well, that’s not entirely true (at least not for now). General Motors announced today that it is working with Google to beef up its Chevrolet Volt app that it unveiled at the 2010 Consumer Electronics Show in January.

Working with Google Maps, GM added a new tab to the Volt app called “navigation.” The section will allow the owner of the Volt to locate the current location of their vehicle pinpointed on Google Maps. Also from the map screen, owners can use Google to search by voice for local destinations with their Android handset. Once they find the location (related to the Volt’s current location), they can send the destination straight from their Android to their Volt and have OnStar Turn-By-Turn direct them to their venue.

Click here to read our first drive impressions of the 2011 Chevrolet Volt.

GM said that the new “navigation” functionality won’t be available with the Volt app at launch, but is planned for 2.0.

At launch the Volt app will allow owners to see charge status, access the “Charge Now” feature or schedule future charging time. They can also see the percentage of battery charge and range level, send text or email notifications for charge reminders, display the mpg, remotely start the Volt to pre-condition the interior temperature of the vehicle and see the mpg, EV miles and miles driven from their last trip.

As for GM and Google working together to compete with Ford’s Microsoft SYNC system… Chris Preuss, OnStar president said:

“While OnStar will never lose sight of our core focus on safety and security, this relationship is an example of how we’re evolving our leadership position in connected vehicle technology. What we’re talking about today is only the beginning.”

You can read into that as much as you’d like.

Make the jump for the press release for more details.

First Drive: 2011 Chevrolet Volt:

All Photos Copyright © 2010 Omar Rana – egmCarTech.

Press Release:

OnStar Leverages Google technology to Connect Customers to the Chevrolet Volt

New features coming for Chevrolet Volt Mobile App

Detroit – OnStar is leveraging the power of Google technology to develop a number of new mobile app features that strengthen Chevrolet’s commitment to providing Volt customers with the most connected vehicle experience possible.

The public will get a peek at what OnStar is working on at the Google I/O conference May 19-20 in San Francisco, CA, where OnStar will debut and demonstrate new functionalities they’re developing for the Chevrolet Volt mobile application leveraging the AndroidTM platform.

“While OnStar will never lose sight of our core focus on safety and security, this relationship is an example of how we’re evolving our leadership position in connected vehicle technology,” said Chris Preuss, OnStar president. “What we’re talking about today is only the beginning.”

A new “navigation” tab has been added to the home screen of the existing Chevrolet Volt mobile app on the Android smartphone. When a Volt owner presses this tab, they will be able to see the current location of their Volt pinpointed on Google MapsTM , as well as their location relative to it.

From this map screen, owners can use Google search by voice to vocally search for a destination with their Android handset, and see where that destination is related to the Volt’s current location. They can then elect to send the destination from their Android phone to their Volt and have OnStar Turn-By-Turn directions to their destination waiting for them when they start the vehicle. Additionally, the owner will also have the option to get voice-guided directions to their vehicle from their current location, using Google Maps Navigation.

The new functionalities won’t be available on the Volt mobile app at launch, but are planned for a 2.0 version.

The smartphone mobile application for the Chevrolet Volt made its debut at the 2010 Consumer Electronics Show and is planned to launch in tandem with the Volt this fall. Launch features include:

· Charge status display – plugged in or not and voltage (120V or 240V)

· Flexibility to “Charge Now” or schedule charge timing

· Display percentage of battery charge level, electric and total ranges

· Ability to manually set grid-friendly charge mode for off-peak times when electricity rates are lowest

· Send text or email notifications for charge reminders, interruptions and full charge

· Display miles per gallon, electric only miles, and odometer readings

· Shows miles per gallon, EV miles and miles driven for last trip and lifetime

· Remotely start the vehicle to pre-condition the interior temperature

“These two new features add to the suite of mobile application features for Volt that given Volt owners a personal connection to their car,” said Tony DiSalle, Chevrolet Volt marketing director. “Connecting customers to their cars is one way we’re using technology to provide value and a real useful benefit to the Volt owner.”

– By: Omar Rana

Willie Shakespeare may have summed it up best when, borrowing the voice of King Richard III, he penned “A horse! A horse! My kingdom for a horse!”

History is replete with examples of how, but for the proverbial horse, kingdoms have been lost.

My reference point is an accident that will almost certainly lead to tragic miscalculations and havoc down the road. And, I might add, an exceptional opportunity for the patient and attentive investor.

It has to do with an impending shortage of easily accessible (read: inexpensive) oil to quench the insatiable thirst of the United States.

It’s also connected to the inroads the cash-rich and geopolitically ambivalent Chinese – among others – have been making in building strategic relationships, and making direct investments, with the world’s major energy providers.

With only so much oil to go around, every new off-take agreement signed by the Chinese with the Saudis or Venezuelans, for example, is a net loss in supply to other bidders, notably the world’s largest energy consumer, the United States.

That the Chinese, and other countries, are aggressively securing long- term energy arrangements, coincidental with what appears to be an official US diplomatic initiative to actively offend all the major energy producers, makes the securing of US-controlled reserves and production critical.

The problem with cheap oil can be seen in the chart here.

And it has been confirmed in a recent report issued by the US military, conveniently summarized by DailyFinance: “A recent Joint Operating Environment report issued by the US Joint Forces Command suggests that the US could face oil shortages much sooner than many have anticipated.

“The report speculates that by 2012, surplus oil production capacity will dry up; by 2015, the world could face shortages of nearly 10 million barrels per day; and by 2030, the world will require production of 118 million barrels of oil per day, but will produce only 100 million barrels a day.”

The US needs secure oil sources, and “on the double,” as a military type might say. And so the pressure has increased for the US government to remove its actual and effective regulatory bans on offshore drilling.

While it’s more smoke than fire, the Obama administration recently made a tentative step in that direction – because even though its most ardent supporters may hate the extractive industries, Team Obama is not stupid enough to think that the energy gap is going to be closed by solar or wind power anytime soon.

Which brings us to the lost horse in this drama – the messy sinking of an oil rig off the coast of Louisiana, resulting in a spill of about 5,000 barrels, or 210,000 gallons, a day into the Gulf. It is estimated that it could take a month or more to cap the well.

The damage caused by this untimely sinking will extend far beyond wreaking havoc on the wildlife – the real importance is that it hands the luddites and enviro-fanatics just the ammunition they need to thwart the expansion of offshore oil drilling. It is the equivalent of the accident at Three Mile Island, which set the nuclear power industry back for decades.

And that means precious time lost, and a near certainty that America will find itself hostage to the oil-producing nations in the years just ahead. That, in turn, means higher and higher prices, and hundreds of billions of dollars flowing overseas. Which, in turn, means a persistently high current account deficit, adding yet more weight to the pressure building on top of the US dollar.

Even if the US were to adopt the equivalent of a war footing in its quest for new offshore discoveries, the size of our steady demand assures that any new finds would still be insufficient over the medium to long term. If the military’s assessment is even close to being on target – with global shortages appearing in four short years – then even the most urgent action taken today would prove woefully inadequate.

But the US is not adopting anything remotely close to urgent action in the quest for new oil supplies. Quite the opposite. The administration and its well-meaning but ill-advised allies are advancing legislation to hinder and penalize virtually all the base-load power providers. And thanks to the poorly timed sinking of the Deepwater Horizon rig, the opponents of “dirty” energy have been provided with a powerful weapon to be used in challenging all new offshore drilling initiatives.

How to play it? First and foremost, you’ll need to be patient. Oil prices aren’t going to skyrocket overnight, and the base-load power industries – oil, coal, gas, and nuclear – will still have to struggle through the coming onslaught of politically motivated regulatory hamstringing. Between now and the time that the depth of the nation’s energy problem becomes apparent to all, the energy sector will remain volatile.

The time to begin buying is when new legislation, coupled with a next leg down in the broader economy and markets, results in an across-the- board sell-off in the energy sector. That will be the time to get serious about building your energy portfolio. Between now and then, your goal should be to learn as much as you can about this critical sector.

And don’t forget to include the oil services sector in your studies. That sector could be the poster child for “feast or famine.” While the sector has bounced off its 2009 bottom, as the inevitable scramble for new offshore discoveries begins, the better-run companies will reward patient investors.

Dave Galland
for The Daily Reckoning Australia

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Published May 17, 2010
By Sara Schilling, Tri-City Herald staff writer

Pasco Columbia Basin College in Pasco is sharing in a five-year, $2.5 million grant aimed at helping under-represented students earn four-year degrees in the fields of science, technology, engineering and math.

The college is getting $275,000 to provide support such as academic workshops, counseling and advising and help with internships and scholarships through the Washington MESA Community College Program. (MESA stands for mathematics engineering science achievement).

The program was announced during a news conference this morning. CBC is one of four community colleges in the state participating.

“This really moves us forward to make sure there’s an easier path” for students hoping to transfer to four-year institutions, said Martin Valadez, CBC vice president for diversity and outreach.

The grant is being paid for by the National Science Foundation.

For the full story, read Tuesday’s paper and tricityherald.com.

Additional news stories can be accessed online at the Tri-City Herald.

NEWS RELEASE
May 17, 2010                                                                            Dawn Alford, 542-5524

Today, Columbia Basin College Office of Diversity and Math and Science Division announced the awarding and launch of the Washington MESA (Mathematics Engineering Science Achievement) Community College Program (WA MCCP) grant.

CBC is one of four Washington community colleges to share the $2.5 million grant; and the first to launch all six MESA components (administrative, MESA Center, academic workshops, orientation course, counseling and academic advising, and professional development).   The other community college grant recipients include: Highline, Seattle Central, and Yakima Valley. 

The 5-year grant, funded by the National Science Foundation, will further support the college’s effort to prepare and transfer underrepresented students to four-year universities and earn a bachelor’s degree in the STEM (Science Technology Engineering Mathematics) disciplines.   CBC will receive $275,000, over the duration of the grant, to fund the program.  The University of Washington will administer the grant and join with Washington State University as collaborative partners to ensure the community college MESA students’ smooth transition to their institutions upon transfer.

The latest in out series of early technologies from Michael Bennett-Levy’s collection looks at the world’s first commercial business computer, the LEO II/3. The LEO II (short for Lyons Electronic Office I) was the successor to the LEO I, which was designed by Oliver Standingford and Raymond Thompson of J. Lyons and Co. – one of the UK’s leading catering and food manufacturing companies in the first half of the 20th century. ..
Continue Reading LEO II – the world’s first commercially available computer

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Occasionally Google produces charts showing “the relative number of active devices running a given version of the Android platform.” The latest of these charts is special though: It apparently marks the first time Android 2.1 was the most used version. More »










Android Market – Android – Google – Handhelds – Apple

The term ‘fat embolism‘ was mentioned in the season finale of the popular TV series House.

“Yeah, she died from a fat embolism, riding in the ambulance after the amputation. It was unavoidable,” said Saul Nutts. “I don’t even know what that is, but I gotta look it up now.”

“She mostly lived until the end of the episode. Had a fat embolism from the amputation. I can’t believe she would,” said Maria.

According to emedicine.medscape.com, Zenker first described fat embolism at autopsy in 1862. In 1873, von Bergmann clinically diagnosed fat embolism syndrome for the first time.

But what is fat embolism and what causes it?

Fat embolism syndrome (FES) occurs when embolic fat macroglobules pass into the small vessels of the lung and other sites, producing endothelial damage and resulting respiratory failure (ARDS-like picture), cerebral dysfunction and a petechial rash. It can be difficult to diagnose. Fat embolism is caused by fractures, Orthopaedic procedures, Massive soft tissue injury, Severe burns. Bone marrow biopsy and Nontraumatic settings. (http://www.patient.co.uk/doctor/Fat-Embolism.htm)

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Neelie Kroes, currently VP of the European Commission (and previously EU Commissioner of competition), is apparently claiming that China’s Great Firewall of internet censorship is really a trade issue, that should be reviewed by the WTO for trade violations. This isn’t the first time this has been suggested, but previous discussions never went anywhere. Now, restricting access to web information and websites can certainly be a trade issue. The fact that many of the websites blocked by China are foreign-run businesses, you can make an argument that China is protecting local companies. But, China has a pretty big trump card: it doesn’t care. The WTO could rule however it wants, and China will just say that it’s not a trade issue, but rather a way of protecting citizens from content it deems dangerous — and will then point to Australia’s attempted internet censorship along with things like ACTA, to point out that lots of countries seek to put limitations on internet content they deem “bad.” So call it what you want, it doesn’t seem likely that any WTO action will convince China to change.

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We just stepped off the plane… We’ll have to catch our breath and open our eyes before we have anything to say about China…

In the meantime, let’s look back at what is happening in Europe and America.

And we will begin by thanking Paul Krugman, economiste ordinaire at The New York Times.

Sometimes, in the dark of night, we are haunted by demons of doubt and worry. Especially when we’re alone. And far from home.

Maybe we’re wrong. Maybe we’re leading thousands of loyal Dear Readers astray. Maybe the Great Correction isn’t what we think it is. Maybe deficits are good. And maybe the US will never run itself into the Greek-style yoghurt.

What a relief it was to find Krugman in today’s International Herald Tribune! Naturally, Krugman disagrees with us completely. Which puts our mind at ease. If Krugman agreed with us, we’d have to re-think our position.

“America is not Greece,” he says. So far, so good. His geography is correct.

It is all downhill from there.

Krugman won a Nobel Prize for his early work. Which makes us wonder about the Nobel committee.

The US is running about the same size deficit as Greece; but don’t focus on that, says Krugman. The two places are not the same, he insists. Because the US has a “much lower debt level.”

He’s wrong about that. If you add to the US national debt the debts of Fannie Mae, GM, and all the other financial holes, which the government will ultimately have to fill, the crater is about 120% of GDP – the same as Greece’s debt.

“Even more important,” he writes, “is that we have a clear path to economic recovery.”

Oh. Where’s that? As near as we can tell, the path is twisty, poorly lighted and full of lethal obstacles. There are now nearly as many people relying on the US government for food as the entire population of Spain. There are about as many people unemployed in the US as the entire populations of Greece, Portugal and Ireland…combined. And there are as many people who have gotten negligible income gains as…well…the entire population of America.

Without more income, how can Americans increase spending? Without more spending, how can the economy really grow?

The government can do the spending! Well, good luck with that. Already, the return on additional borrowing in the private sector is so marginal that banks are generally unwilling to lend. And the return on government debt? It looks like a positive return, at first. People spend transfer payments just like any other money. Economists like Krugman can’t tell the difference. But government spending generally produces negative real growth.

Nevertheless, Krugman explains that IF the economy improves…and IF the administration cuts deficits…and IF the new health care program doesn’t cost more than the Obama team says it will – heck…everything will work out just fine! With a few tax increases, of course.

Then, he tells us that, yes, over the long run we’re going to hell in a handcart. But that problem can be solved by a “combination of health care reform and other measures.”

Finally, he’s right about something. Enough ‘other measures’ and you’ve got the problem licked.

What other measures? Well, the deficit is now at about 10% of GDP. So, all you’ve got to do is to cut spending by 11% of GDP and you’ve got a surplus. Let’s see, where are we going to cut $1.4 trillion dollars? That’s cutting out 100% of the defense budget. And 100% of Social Security too.

And if you don’t do that…you get more deficits. And if you get more deficits, you end up with more debt. And if you keep adding debt faster than real GDP growth, you eventually get to the point where the markets cannot or will not finance it. And then you’re Greece.

What is likely to happen is that yields will stay low enough for long enough to make people think Krugman knows what he is talking about. They’ll think that the US can borrow as much as it wants for as long as it wants…

In The Washington Post, economist James Galbraith is already a believer. He argues that the chance of getting into a Greek-style jamb is “zero.” He says deficits don’t lead to trouble. The US has been running deficits since the ’70s, he points out.

And look at the Japanese, he adds. They’ve been running huge deficits (fiscal stimulus) since their economy slipped up in 1989. And they’re still able to borrow at practically zero interest.

Makes you wonder how Greece got into trouble. It ran plenty of stimulating deficits. Then again, everything was all right in Greece until it wasn’t.

A man jumped off the 65th floor of a skyscraper. As he went by the 11th floor, the secretaries heard him remark:

“All right so far.”

The US is all right so far. So is Japan.

And more thoughts…

– Deep Do-Do Horizon

“Following the Gulf disaster…it will be a long time before any new permits are issued for drilling for oil in the Gulf…” said Rick Rule, at the Family Office get-together this weekend.

And this from Bloomberg:

Senators from California, Oregon and Washington introduced legislation to ban oil drilling off the West Coast amid mounting concern about the spill in the Gulf of Mexico.

“We believe that offshore oil drilling is simply not worth the risk,” Senator Dianne Feinstein, a Democrat of California, told reporters today in Washington.

The measure would amend the Outer Continental Shelf Lands Act to impose a permanent ban on drilling off the three states.

Offshore drilling was banned for decades after a 1969 spill about five miles off the Santa Barbara coast soaked California beaches in a 35- mile long oil slick. In July 2008, then-President George W. Bush lifted the presidential moratorium. Congress allowed its own drilling ban to expire three months later.

“This oil spill could destroy the future of offshore drilling,” adds our Family Office researcher, Charles Delvalle. “More states will be allowed to decide whether they want drilling offshore or not. And Senators are trying to allow neighboring states to have a ‘veto’ over any one state’s offshore drilling decision.

“So let’s say Florida wanted to put some offshore rigs up close to Georgia. If Georgia doesn’t want that rig up, it can ‘veto’ Florida’s decision.”

Daily Reckoning readers can see where this is going. Even if the oil were available beneath the sea, the oil industry is going to have more and more trouble bringing it to market.

Rick notes that even on dry land, the oil industry is facing disasters. A number of major exporters – Mexico, Iran, Venezuela and Peru – could take themselves out of the export business in the next few years, he says, thanks to their habit of using oil revenues for social/political purposes and failing to invest in additional capacity.

This is occurring as the number of cars – and the demand for energy – is exploding.

Implication: a higher oil price.

“There’s plenty of $200 oil,” said Rick.

Trouble is, there isn’t that much $70 oil.

Regards,

Bill Bonner
for The Daily Reckoning Australia

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