Sam Adams came out with their imperial series of beers a few months ago and we thought it was about time to give them a try. These beers are amped up, hyped up, and otherwise “imperialized” versions of classic styles – like beer on steroids. First up, we’ll take a dive into their imperial white beer!
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Beer Review: Sam Adams Imperial White Beer Sessions
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Sprott Jumps On Gold ETF Craze With New “Physical Gold” Trust
Fund flows into gold ETFs are out of this world, and now well-known gold bull Eric Sprott is looking to get in on the action.
Last week, Sprott Asset Management filed an F-1 for a $575 million IPO of a small gold trust called the Sprott Physical Gold Trust (PHYS).
In the prospectus, Sprott lists a number of advantages of the fund like, a “convenient way to own physical gold bullion” and an “ability to redeem units for physical gold bullion.”
All gold ETFs are backed by physical gold, of course, and large investors have redeemed bullion from the like of GLD, but Sprott is really trying to play up the physical aspect — hence the name and the ticker “PHYS” — though arguably that’s mainly marketing
Join the conversation about this story »
See Also:
- Gold ETF Fund Flows Quadrupled In November (GLD)
- Gold ETF Approaching Record Volume, As Metal Plunges $50 (GLD)
- Investors Are Going Nuts For Precious Metal ETFs
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Vegan Blueberry Cornmeal Coffee Cake

I would say that blogging has definitely made me more responsible than I ever was. Since so many people are visiting the website, I have to be very careful about the authenticity of the information I post and for that I’m doing quite a bit of research too. When I announced the Corn event, one of my blogger friend had a doubt if the makai ki atta (maize flour) available in India is whole grain. I also had a similar doubt, if Masa di harina I see in the stores here is whole grain. So I set off to find some information on the following:
- What is masa de harina and makai ki atta?
- Are they one and the same?
- Is it the whole grain form of corn?
From the information I have gathered so far I’m pretty sure that masa di harina and makai ki atta are one and the same. To get both, maize (corn) is dried and soaked in a lime solution. The process is called slaking. The hull loosens after soaking, which is removed and then the damp corn is ground into fine flour. Actually this flour is nutritionally superior to cornmeal (I’m thinking that the cornmeal mentioned here is the degerminated cornmeal and not whole cornmeal) because the lime water adds calcium to the corn and makes the niacin in the corn nutritionally available.
Now that we know that masa de harina and makai ki atta are one and the same and they are nutritionally superior too. Are they whole grain forms of corn? I’m guessing the answer is “no” because the hull is removed during the slaking process. That being said I think that it is less refined than all purpose flour and also has the added benefit of calcium. This is my take on this topic. Please feel free to share your views here and correct me if I’m wrong.
Shall we move on to the recipe now? If somebody asks me to pick my most favorite recipe, it would be without a doubt this low fat blueberry coffee cake. I have sung it’s praises in that post and am going to do it again here because it is that good. Before trying that cake, blueberries was not in the list of my favorite fruits, but after baking that coffee cake I stock blueberries so much that one day my husband (and others too) might start calling me “that crazy blueberry lady”. So one day last week, as I was raiding my fridge, what do I find? 3 packs of blueberries and a cup of blueberry soy yogurt. You know what I would have decided to do. Of course bake the blueberry coffee cake, but with few changes. Since I’m hosting the “Corn” event, I wanted to incorporate that too in the recipe and now here we have a very light, not so sweet, vegan blueberry cornmeal coffee cake.
Ingredients & ProcedureAll Purpose Flour 1/2 cupWhole Corn Meal 1/2 cupSugar 1/2 cupBaking Powder 3/4 teaspoonBaking Soda 1/4 teaspoonUnsweetened Applesauce 1/4 (dry measuring) cupSoy Yogurt, blueberry flavor 1/2 cupVegetable Oil Spread, melted 2 tablespoonsApple Cider Vinegar1/2 tablespoonVanilla Extract 1 teaspoonAlmond Extract 1/4 teaspoonBlueberries, fresh or frozen (I used fresh) 1 cupAlmonds, sliced 1/2 cupBrown Sugar 1 tablespoonGround Cinnamon 1/4 teaspoonYield: 9 servings
Procedure
1 Preheat oven to 350F for 15 minutes. Grease a 8 inch square baking dish. Line it with parchment paper and spray with non stick cooking spray. In a small bowl combine the almonds, brown sugar and cinnamon; set aside. The oil spread can be melted on stove top or microwave oven or even in the oven while it’s preheating.
2 Combine together the flour, whole cornmeal, sugar, baking powder, salt and baking soda in a large bowl. I found medium grind whole cornmeal. It is not as fine as the regular cornmeal you find in the grocery stores. So I had to powder it in the food processor a couple of times, to get a fine texture.
3 The original recipe uses 1/2 cup buttermilk. Since I wanted to make it vegan and also had some blueberry flavored soy yogurt I decided to use that. So I measured approximately 1/3rd cup of yogurt blended it with water to get 1/2 cup measurement. To that add the melted butter, extracts, vinegar and applesauce. Whisk until well blended.
4 Stir the wet ingredients into dry ingredients until just moistened. Fold in 2/3 cup blueberries. If using frozen blueberries, do not thaw before adding to batter, because the color will bleed.
5 Pour the batter into the prepared pan. Top with remaining blueberries. Sprinkle the almond mixture on top. Tap the pan lightly a couple times so that the topped blueberries and almonds sticks to the batter.
6 Bake for 25-30 minutes or until a toothpick inserted near the center comes out clean. Cool the pan on a wire rack.
7 Remove the cake from the pan after 10 minutes and transfer the cake directly to the wire rack. The cake is quite light, so you will have to be very careful while tilting the pan.
TasteThis blueberry cornmeal coffee cake was as good as the one which I had baked earlier with all purpose flour. This time I did have the almond extract and it definitely gave a nice flavor to the cake. As I have mentioned in my earlier post, this cake is very light, so handle with care while removing it from the pan. I thought that using cornmeal would give a harder texture than using all purpose flour alone, but it was light only. The sweetness was just right. So if you have a sweet tooth you can add another 2-3 tablespoons of sugar. We liked it just the way it was.
My Notes1 Butter and buttermilk was used in the original recipe which I have substituted with vegetable oil spread and soy yogurt to make it vegan.2 I used Bob’s Red Mill brand of medium grind whole corn meal. I test baked something with the cornmeal just like that and saw that the corn did not cook completely. It was gritty. So either find fine grind whole cornmeal or process in a food processor/blender thoroughly if using the medium grind. I see that even coarse grind is available, I would suggest not to get that unless you have a food mill or a very efficient food processor, because the medium one itself took a lot of time for me to get a fine texture.
This vegan cornmeal coffee cake goes to my Whole Grain (Egg Free) Baking Event – Corn. -
Demo: Vancouver 2010 – The Official Video Game of the Olympic Winter Games
Content: Vancouver 2010 – The Official Video Game of the Olympic Winter Games – Demo
Price: Free
Availability: Not available in Asia and India
Dash Text: This demo features men's super-G (one of the 14 Olympic Games Mode events featured in the game) and Landing Zone (one of the 30 unique Challenge Mode events). Focusing on speed and adrenaline, Vancouver 2010™ – The Official Video Game of the Olympic Winter Games will launch players into the glory and excitement of one of the world’s biggest winter sport events -
Your Favorite Comics.
OK Everyone. I know that you have a funny side of you as we know the how being a Diabetic makes us feel, Quite glum and sad too. But we can also laugh at it as well.What would be your favorite comic and this is across the board of all medium, Like film, TV, Radio, DVD or any other that is available.
As for myself I have been influenced with English talent and some American stuff too.
I like the Monty Python material as John Cleese is a riot!! Love the guy. 😀 Dave Allen is another. Father Ted is another followed buy Vicar of the Dibly and there is many more.
Then there is Dean Martin with his side kick Jerry Lewis (I think that is spelt correctly :confused:) The Tree Stoogers, Abbot & Costello, Just shoot Me, Mary Tyler More Show as there more that I cannot think just now.Links are welcome. :o:D:T
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Get Ready For Epic Stimulus Spending Out Of China In The Final Couple Weeks Of December
It’s a common phenomenon in bureacracy. Nobody wants to save anything. If your department didn’t use up its allocated budget for the year, then the message your sending to your superiors is that they needn’t allocate so much to you next year.
And so at the end of the year, leftover money becomes like a hot potato that you just have to get rid of.
So expect mammoth spending out of China this month where various towns and local governments are sitting on a huge pile of unspent stimulus money.
The Telegraph: At the end of November, the Ministry of Finance said that government spending had reached 5.62 trillion yuan, only 74pc of its target of 7.62 trillion yuan for 2009.
Officials are now concerned that provincial and central government departments will embark on rash attempts to spend the remaining money or face having their budgets cut next year.
“Compared with last year and with earlier years, the surplus is particularly large this year,” said Yang Zhiyong, a public finance specialist at the Chinese Academy of Social Sciences.
So 26% of the stimulus remains unspent, and all these various authorities have to spend it.
Remember to adjust that when you’re coming across data that would be affected by this December’s activity.
Join the conversation about this story »
See Also:
- The US-China Trade War Is Here
- China: No, Really, This Time We’re Going To Tighten Lending
- China: Watch Us Overstimulate Ourselves Into A Sustainable Economy
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QuickMark barcode scanning app for HTC HD2
Found under: Windows Mobile, barcode, HD2,
QuickMark has just released their new barcode scanning app which now supports HTC HD2. The application features recognizing almost all kinds of 1d and 2d barcodes like the DataMax and QRcodes. If youve ever wondered where you can use such kind of app here is a fresh example of barcode implementation from Google in their new service Google Favorite Places. To download QuickMark Mobile Barcode please use this download page
Read more in mobile format
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Greek Finance Minister Comes Out Swinging, Hints At Similarities With US Debt Situation
With confidence in his country unraveling, the Greek Finance Minister Giorgos Papaconstantinou is doing everything he can to convince investors that his country will make good on its debts.
If you really want to understand bond vigilantes, or why Bill Clinton aide James Carville once said he wanted to be reincarnated as the bond market, so that he could come back and scare the crap out of people, then look at Greece.
A socialist government comes in, and two months later it’s forced to talk about its austerity.
So Papaconstantinou is doing the interview rounds, and he stopped to explain his situation to UK’s The Guardian where he made comments that should resonate well with American readers.
“Deep-seated structural problems in our society have come to the surface,” he added, referring indirectly to the unrest that has gripped Greece. “That is why we have put so much emphasis on the process of social dialogue and building consensus.”
Since assuming office two months ago, the socialists had been “truly shocked” at the scale of the economic mismanagement. Under the centre-right New Democracy party, government waste had skyrocketed, with out-of-control recruiting policies, a proliferation of public-sector committees and overpaid heads of state utilities. Ministries approved obscenely high phone and newspaper bills, while senior civil servants had spent lavishly on unnecessary foreign trips, he said.
“It was as if they regarded the national treasury as the spoils of war and raided it. And there was no single payment authority so the finance minister had no idea who or what was being paid.”
Gee, a center-right party that blew through the bank after years of economic mis-management? Talk about hitting close to home.
Obama, of course, has been making similar noises since he came into office, and basically they’re all completely valid, even if his political opponents would like to imagine that heavy spending and debt is something that didn’t exist in the US until January, 2009.
For now, the US isn’t worrying like Greece — not because we’re in all that better shape — but because of the strength of our currency, and our ability to (seemingly) borrow and print it ad infinitum.
Join the conversation about this story »
See Also:
- Stratfor: It’s Not Just Greece; Other Eurozone Countries Are Teetering On The Brink
- The Euro Breakup Will Be THE Story Of 2010, As Analyst Expects Ireland And Greece To Leave The Union
- Everyone’s Freaking Out About Greece Today
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Threading components:turning,milling,drilling,end machining,surface finishing
Threading technology:
For more than 25 years we have been well-known as threading manufacturers. An extensive product range of screw threads and screw nuts can be delivered on short notice.
We manufacture components ready for installation, including all turning, milling and drilling operations as well as subsequent end machining and surface finishing.
Standard threads:
External screw thread diameters range between 10 mm and 180 mm. Work piece lengths up to 6 metres are processed by default. We are also able to manufacture longer external screw threads on demand, based on the availability of the feed material, or diameters exceeding 180 mm.
We are able to manufacture internal screw threads from a diameter starting from 10 mm. Our internal screw thread lengths are dependent on the thread diameter up to 10 x D (D = nominal thread diameter). Longer internal screw threads are processed on demand.
Product range of screw threads:
External screw threads and internal screw threads according to international thread standards as well as special screw threads according to your individual needs, based on a drawing or sample can be manufactured by us. Our product range includes single and multi-start threads, as well as whirled, milled, machine-cut and turned threads.
We furthermore offer screw nuts corresponding to our threaded spindles, a repair service for lead screws as well as the production of pump rotors.
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40- and 60 bar Products
Particular high-pressure maintenance units are being used in the PET blow molding technology, the offshore
technology and in the ship industries.
In our established Standard product line we offer several units for 40 up to 60 bar applications.
40- and 60 bar Filter und Microfilter
• Compressed air filters in modular design
• Manually operated drain valve
• Filter element of sintered bronze
• Body of aluminum (black anodized)
• Bowl of brass
• Test certificate included
• Available sizes from G 3/8 to G 2
Microfilter like filter, but
• Filter element for 0,01 ¼m
• Sizes from G 3/8 to G 140- and 60 bar Pressure Regulator
• 40- and 60 bar inlet pressure
• Outlet pressure from 0,5 to 25 bar (40 bar regulator) or 50 bar (60 bar
regulator)
• Body of brass and aluminum diecast
• Sizes from G 1/4 to G 2
• Mounting on either side.
• Bracket mounting upon request40 bar Pressure Regulator Diaphragm Type
• Diaphragm type pressure regulator with servomechanism
• Sizes from G 1 1/2 up to G 2
• Outlet pressure ranges: 0,5 to 6, 10, 16 and 25 bar
• Two gauges (inlet and outlet pressure) can be mounted on both sides
• Bracket mounting upon request
Safety Valve
• Component tested Safety Valve DN 8
• CE certified
• Sizes from G 1/4 to G 1/2
• Operating pressure from 1.5 up to 40 bar
• Material: brassMini Blow-Off-Valve
• Not component tested
• Sizes from G 1/8 to G 1/4
• Operating pressure up to 60 bar
• Material: brass -
Dakota Fluid Power Chooses QSI’s QTERM-G58 to Measure Hydrant Water Pressure
SALT LAKE CITY, UTAH. 10 December 2009 – QSI Corporation, designer and manufacturer of rugged human machine interface and mobile data terminals, announce their wireless handheld QTERM®-G58 is chosen by Dakota Fluid Power, a leader in hydraulic and pneumatic systems and service. The QTERM-G58 is included in the Fire Flow Pro® and ValveSTAR® systems provided by Hurco Technologies, Inc., a manufacturer of products built for the testing, maintenance and repair of sewer and water systems.
The public’s safety and property depend on the fire fighter having the proper water pressure to successfully fight a fire. With the Fire Flow Pro, the QTERM-G58’s wireless Ethernet allows a field operator to collect water pressure data and GPS location from the hydrant without the assistance of another person. This information is critical in maintaining hydrant performance. ValveSTAR uses the QTERM-G58 to track critical valve and hydrant exercising data, import work orders, capture GPS locations and create numerous reports. Operators can easily input data using the QTERM-G58’s “finger-friendly” keypad and transfer the information to a laptop or office computer. Visit www.gethurco.com for more information about Hurco Technologies, Inc.
The QTERM-G58 is a wireless and battery powered handheld graphic HMI with a transflective sunlight readable LCD display measuring 89 mm (3.5″) diagonal. Features include a 200 MHz processor, resistive touch screen and a 24- or 40-key keypad. The QTERM-G58 is NEMA-4 rated and will soon feature Windows® Embedded CE.
About QSI Corporation
Established in 1983, QSI Corporation is a leading designer and manufacturer of rugged operator interface and mobile data terminals (TREQ®) for industrial OEMs and commercial vehicle systems integrators. For more information, contact QSI Corporation at 801-466-8770 or visit www.qsicorp.com.About Dakota Fluid Power, Inc.
Dakota Fluid Power, Inc. has provided quality hydraulic and pneumatic systems, sales and service since 1991. Known for hydraulic distribution, service and manufacturing of most major lines of hydraulic power units and systems, pneumatic and electrical systems, Dakota Fluid Power Inc. also provides testing, field service and installation services. For more information, call 605-338-9982 or visit www.dakotafluidpower.com. -
High-Definition Digital Particle Size Analyzer – Saturn DigiSizer II
Utilizing a state-of-the-art CCD detector containing over three million detector elements, Mie theory, and unique design and data reduction features, the Saturn DigiSizer® II High-Definition Digital Particle Size Analyzer provides an extremely high level of resolution and sensitivity not available in other laser particle sizing systems. Higher resolution gives better information about the sample, providing more accurate results in even the most complex sample types. In addition, the instrument produces fast, detailed results that are repeatable on and reproducible between every Saturn DigiSizer, in every location, all over the world.
Both organic and inorganic particles can be analyzed and measured over a range of 40 nanometers to 2500 micrometers. The Saturn DigiSizer II includes a complete system for circulating the dispersing liquid/sample mixture through the cell and reservoir, as well as to an external waste container. Features such as fully automated sampling and low-volume sample handling systems make the Saturn DigiSizer ideal for a wide range of production, research, and quality control applications. One multifunction personal computer can control up to two analyzers, each with a liquid sample handler, and two MasterTech 052 Autosamplers, each allowing automatic analysis of up to 18 samples sequentially without further intervention.
The liquid sample handling unit (LSHU) enables automatic sample handling. Available in two configurations, the standard unit includes a reservoir that is adjustable between 590 to 690 mL of dispersed sample. This model is best suited for samples containing coarse or high-density particles. The low-volume unit includes a reservoir that is adjustable between 100 to 120 mL of dispersed sample and is best suited for analyses where the sample quantity or dispersion liquid is limited, or where the dispersion liquid may be hazardous or not easily disposable. Both sample handlers also allow for connection of an ultrasonic probe to assist in sample dispersion.
The Saturn DigiSizer II analysis program is designed to operate in the Windows® XP Professional or Windows Vista® Business or Ultimate environment and includes wizards and intuitive screens enabling you to perform system operations quickly and efficiently.
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Test software: new version testXpert® II V3.2
Zwick Roell’s testXpert® sets the standard for intelligent materials testing by providing a uniform operating concept for all applications. It has now been further enhanced by a range of new features, as seen at this year’s testXpo international testing forum (19th-22nd October 2009).
Operator interface for touch-operation
The new testXpert® II touch interface provides interactive operation via a PC mounted directly on the testing machine and adjustable for operator comfort. Navigation optimized for touch-PCs combined with efficient parameter input via an integrated alphanumeric panel provide a significant reduction in operator workload, particularly for simple tests.Speech output
The ideal complement to touch-PC operation, testXpert® II speech output actively guides the user through the test sequence. From the start of the test the operator receives all essential information on the test sequence and is actively prompted to any required user actions, such as ‘attach extensometer’, and can also be informed of results determined online. Easily integrated customized texts provide operator prompts for defined actions, even after the test (e.g. guidelines for disposal of specimen remains).Fast configuration through intelligent default allocations
Operation has been greatly simplified for many testXpert® II functions by intelligent, logical default allocations, including generating reports in PDF format with one mouse-click, specimen and series-specific default reports and fully pre-configured export interfaces for Word, Excel, ASCII data export and long-term evaluations. Naturally all default allocations can be quickly and individually matched to customers’ individual requirements.Materials testing visualization
This new function enables a visual record of the test arrangement used for a particular test to be stored via a photograph or video. These images and videos are generated with one click of a button and are administered in their own layout, which is integrated into the Test Program. This provides the user with important information on the required test arrangement, particularly useful when a wide range of test arrangements are in use.It is also possible to store specimen-specific images, for example if the failure image is also to be documented. Again, one button click is all that is needed for automatic recording and allocation to the specimen.
The new version also enables videos from high-speed cameras (as well as from web cameras and camcorders) to be integrated in testXpert® II and synchronized perfectly with the curve graphics. -
NEW! prism photo sensor KP1650
Model KP1650 is a prism type photo sensor consisted of an Infra red LED and a photo transistor.
This sensor has analogue output and wiring is not necessary for prism side. As a series, Shinkoh can provide K1213, KP1430, KP1660, KP3250 as analogue output and KP1850 as digital output.
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Oil Drops Below $70. End Demand Remains Very Weak
West Texas Intermediate crude has dropped below $70.
A few weeks ago it was in the mid-$80s.
FT Alphaville’s Izabella Kaminska highlights research from JBC Research about the sad state of end demand (remember, last week’s surprisingly narrow trade deficit was partly the result of oil demand at levels not seen since January 2000):
Some of the reasons behind the latest bearish wave are: the massive middle-distillate overhang, negative y-o-y demand figures for gas oil and gasoline, a widening crude contango, bearish economic headlines, renewed turbulence in financial markets and a strengthening dollar.
And those demand figures: pretty much down everywhere.
This weekend we noted how the last time oil and gold made a sharp move down in tandem, such as what we’ve seen in the last couple weeks, bad things followed.
Join the conversation about this story »
See Also:
- The Next Leg Of Deflation Has Begun
- Oil’s Going To $225 By 2012, Says Analyst
- The Recovery Is Faltering
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Love Me Tender: 15 Braises from The Kitchn
Slow-cooked braises can be vegetarian and omnivorian, complex or simple, spicy hot or comfortably mellow. Whatever the recipe, braises fill our homes with mouthwatering aromas and give us something warm to look forward to on cold evenings. Here are all our best and most favorite braising recipes!
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Roubini: Here’s Five Reasons The “Barbarous Relic” Gold Is Going To Tank
Nouriel Roubini’s nickname is “Dr. Doom,” but unlike other noted doomsayers who warn about massive debt and deflation, he’s a Keynesian. So his views are more in line with the likes of Paul Krugman — more spending, please — than many of the uber-bears with whome he’s frequtnly lumped in.
And like other Keynesians he’s not a gold bull. Remember, Keynesians believe in the curative power of paper money.
On Friday he dropped a roundhouse kick on the gold bulls with a post at Roubini.com about “The New Bubble in the Barbous Relic that is gold.”
Via ZeroHedge, here are his five reasons why gold is toast:
First, the dollar carry trade may at some point unravel, popping the global asset bubble that this carry trade has fueled.
Second, central banks will eventually need to exit quantitative easing and effectively zero policy rates, which will put downward pressure on risky assets including commodities.
Third, bouts of global risk aversion may occur as the global recovery may turn fragile, anemic and subpar, thus leading to a rise in the U.S. dollar that would drive down prices of commodities and gold in dollar terms.
Fourth, since the carry trade and the wall of liquidity are causing a global asset bubble, some of the recent rise of gold is also bubble driven by herding behavior and momentum trading, pushing gold higher and higher. But all bubbles eventually crash and the bigger the bubble the bigger the eventual crash.
Fifth, the effect of rising sovereign risk on gold prices is ambiguous, as the events of recent weeks suggest. A risk in such risk could push up the price of gold if it leads to expectations that central banks will eventually monetize those fiscal problems. But in practice it has weighed on the price of gold because it has increased investors’ risk aversion and led to a rush into a different (and more liquid) asset than gold—e.g. the U.S. dollar—thus pushing gold prices down. In general, gold always competes with fiat currencies and anything that is dollar bullish—like repeated bouts of global risk aversion—tends to be gold bearish.
He adds:
Thus, the gold bugs are wrong—or at least very, very premature—in justifying buying gold as an attack on fiat currency. The velocity of money is still low or falling—the opposite of a currency crisis or run on the dollar. As a further indication of the collapse of credit/money multipliers, indicators of expected inflation are subdued or falling, despite governments printing money (excess reserves). The high inflation scenario may be constrained even if/when easy money gains too much traction, as the yield curve would steepen sharply, raising the discount rate for risky private sector debt and for corporate equity, limiting the speed of the recovery and hence the ability of states to impose inflation surprises in the context of shortening average debt maturities.
Read more over at Zero Hedge >>
Join the conversation about this story »
See Also:
- Russian Central Bank Buys 30 Tons Of Gold From State Repository
- As Gold Slides, One-By-One, The Haters Come Out Of The Woodwork
- IMF: Rising Asset Correlations Prove Roubini’s Dollar Carry Trade Warning
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Dubai Sheikh: Our Best Days Are Yet To Come!
Here it is, via DubaiChronicle.com:
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The Government of Dubai, acting through the Supreme Fiscal Committee (”SFC”), today announced a set of actions in relation to Dubai World: Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Fiscal Committee said: Like other global financial centers, Dubai has faced recent market challenges driven by global economic slowdown and severe real estate market correction.
Recently, Dubai World announced that it might not be able to commercially support its obligations. Since that time, the Government of Dubai has worked closely with the Abu Dhabi Government and the UAE Central Bank addressing and assessing the impact of Dubai World on the UAE economy, banking system and investor confidence.
The following provides comprehensive set of actions: First, the Government of Abu Dhabi and the UAE Central Bank have agreed to provide important support.
Specifically, the Government of Abu Dhabi has agreed to fund $10 billion to the Dubai Financial Support Fund that will be used to satisfy a series of upcoming obligations on Dubai World.
As a first action for the new fund, the Government of Dubai has authorized $4.1 billion to be used to pay the sukuk obligations that are due today. The remaining funds would also provide for interest expenses and company working capital through April 30, 2010 – conditioned on the company being successful in negotiating a standstill as previously announced.
In addition, the Government of Dubai is particularly focused on addressing the concerns of Dubai World trade creditors within the Emirate of Dubai. To help address these concerns, today the Government of Dubai is announcing that the remainder of the funds provided will be used for the satisfaction of obligations to existing trade creditors and contractors. Discussions with affected contractors will begin in short order.
Next, the central bank is also prepared to provide support to local UAE banks.
Finally, today the Government of Dubai will announce a comprehensive reorganization law, a framework that is based upon internationally accepted standards for transparency and creditor protection. This law will be available should Dubai World and its subsidiaries be unable to achieve an acceptable restructuring of its remaining obligations.
Today’s actions, taken together, demonstrate our strong commitment as a global financial leader to transparency, good governance, and market principles. There will certainly be challenges periodically, just as there are challenges in other major financial centers around the globe. We believe today’s actions will best serve the interests of all stakeholders.
We are here today to reassure investors, financial and trade creditors, employees, and our citizens that our government will act at all times in accordance with market principles and internationally accepted business practices. Dubai is, and will continue to be, a strong and vibrant global financial center. Our best days are yet to come.
The Government of Dubai remains committed to its high standards and its obligations. We are confident in our economic model, and we are confident in the long-term health and outlook for our economy.
The actions taken today are consistent with our market development, and we believe they are the actions that will best serve the interests of all stakeholders.”
Join the conversation about this story »
See Also:
- Check Out The Banks That Just Made A Boatload Of Money On The Dubai Bailout
- World Markets Jump On Dubai Bailout News
- A Satellite Tour Of The Dubai Debacle
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2009 Regional Innovation Scoreboard: diversity across Europe

The level of innovation in regions varies considerably across almost all EU countries. This is one of the main findings of the 2009 Regional Innovation Scoreboard (RIS), published today by the JRC’s Institute for the Protection and Security of the Citizen (IPSC), together with the Commission’s Directorate-General for Enterprise and Industry and the Maastricht University (MERIT).
The 2009 RIS, based on the European Innovation Scoreboard (EIS) approach and methodology, assesses innovation performances across 201 regions in the EU and Norway. Spain, Italy and the Czech Republic are the most heterogeneous countries, where innovation performance varies from low to medium-high. While on average the pattern of innovation is quite stable between year 2004 and 2006, several regions, in particular in Spain and France, have improved their innovation performance. The report also shows that the most innovative regions are typically in the most innovative countries, although some regions outperform their country level.
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Amazon Introduces EC2 Spot Instances
Cloud computing, despite the fact that most people still have no real idea what it means, is taking off and on-demand services by the likes of Google and Amazon are becoming increasingly popular with people wanting cheap computing power and storage for their sites or projects. As the market matures, the offerings diversify, following the trend of other markets which use a similar pay-per-use model but are otherwise completely unrelated. Amazon has now released a new product for its EC2 service dubbed Spot Instances which allow users to bid for computing power in an automated auction system to maximize the available capabilities while keeping costs down. “As customers continued to expand their use of AWS, they started asking if additional pools of capacity were available, even if only for a few hours at a time. Some customers were looking to reduce costs in exchange for being flexible as to when they run their application; others told us they were willing to pay more when they had urgent, high volume needs,” Peter De Santis, general manger of Amazon EC2, said.
“Because of the dynamic nature of supply and demand in the Amazon EC2 environment, we developed Spot Instances to let customers take advantage of our unused capacity while specifying a price they are willing to pay,” he added.
The… (read more)










