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Senior Hamas leader killed in IAF air strike in Gaza Strip
Today's Headlines
Headline Comments [Views]
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Page 6: Politix
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-Lurid Crime Tales-
Former Army Employee Pleads Guilty To Espionage
Lev L. Dassin, the Acting United States Attorney for the Southern District of New York, announced that Ben-Ami Kadish pleaded guilty earlier today to a one-count information charging him with participating in a conspiracy to act as an unregistered agent of the Government of Israel.

In summary, according to statements at Kadish’s guilty plea before U.S. Magistrate Judge Theodore H. Katz, the Information and other documents filed Manhattan federal court:

Kadish is a former employee of the U.S. Army’s Armament Research, Development, and Engineering Center at the Picatinny Arsenal in Dover, New Jersey ("the Arsenal"). On numerous occasions from about 1980 through 1985, Kadish provided classified documents relating to the U.S. military – including some relating to U.S. missile defense systems – to an agent of the Government of Israel, Yossi Yagur, who photographed the documents at Kadish’s residence.

Kadish, 85, faces a maximum sentence of five years in prison and a maximum fine of $250,000.

Kadish is scheduled to be sentenced in Manhattan federal court by U.S. District Judge William H. Pauley on February 13, 2009.

Mr. Dassin praised the investigative work of the New York and Newark Field Divisions of the Federal Bureau of Investigation and thanked the U.S. Army for their support in this case.

This prosecution is being handled by Assistant United States Attorney Iris Lan from the U.S. Attorney’s Office for the Southern District of New York and Trial Attorney Kathleen Kedian from the Counterespionage Section of the Justice Department’s National Security Division.
Posted by: Anonymoose || 01/01/2009 21:06 || Comments || Link || [7 views] Top|| File under:

#1  Die in prison, traitor.
Posted by: gromky || 01/01/2009 21:30 Comments || Top||

#2  Mr. Kadish knew the risk when he chose to break the law, regardless of the idealism behind that choice. He can't complain that he had an extra quarter century of freedom before the deserved punishment fell upon him.

gromky, a traitor is one who reveals key information to his country's enemies or otherwise undermines the war effort. I'm sure you aren't contending that Israel and the U.S. have ever been enemies, even during President Carter's term in office, just before these events occurred.
Posted by: trailing wife || 01/01/2009 21:49 Comments || Top||

#3  Somewhat misplaced loyalties at any rate.
The sentence sounds reasonable to me.
Posted by: bigjim-ky || 01/01/2009 23:04 Comments || Top||


-Signs, Portents, and the Weather-
You know those greeehouse gases? Now they cause Ice Ages.
Researchers at the University of Birmingham found that 630 million years ago the earth had a warm atmosphere full of carbon dioxide but was completely covered with ice.

The scientists studied limestone rocks and found evidence that large amounts of greenhouse gas coincided with a prolonged period of freezing temperatures. Such glaciation could happen again if global warming is not curbed, the university's school of geography, earth and environmental sciences warned.

While pollution in the air is thought to trap the sun's heat in the atmosphere, causing the planet to heat up, this new research suggests it could also have the opposite effect reflecting rays back into space.
In other words, they haven't a clue ...
This effect would be magnified by other forms of pollution in the earth's atmosphere such as particles of sulphate pumped into the air through industrial pollution or volcanic activity and could create ice age conditions once more, the scientists said.

Dr Ian Fairchild, lead investigator, said: "We came up with an independent test of a theory that the earth, like a baked Alaska pudding, was once hot on the outside, surrounding a cold, icy surface.

"It happened naturally in the past, but the wrong use of technology could make it happen again."

The limestones studied were collected in Svalbard in the Arctic Ocean, which is covered in ice and snow.
Scientists unclear on the distinction between causation and correlation. Sigh.
Posted by: lotp || 01/01/2009 14:37 || Comments || Link || [4 views] Top|| File under:

#1  And they are also unclear about the concept that a theory must be falsifiable. Specifically, if high CO2 concentrations cause global warming and high CO2 concentrations cause global cooling, then clearly the theory so described can't be demonstrated false.

Might as well substitute "God's Will" for "high concentrations of CO2".
Posted by: Flerens Dark Lord of the Wee Folk6525 || 01/01/2009 14:53 Comments || Top||

#2  Such glaciation could happen again if global warming is not curbed, the university's school of geography, earth and environmental sciences warned.

Any "Academic" that could say that with a straight face deserves to be punched in the CV
Posted by: Frank G || 01/01/2009 15:04 Comments || Top||

#3  deserves to be punched in the CV

That's cold, Frank. You really know how to hurt an academic LOL
Posted by: lotp || 01/01/2009 15:11 Comments || Top||

#4  Warming or Cooling.

Pick ONE.
Posted by: bigjim-ky || 01/01/2009 15:19 Comments || Top||

#5  "Pick ONE"

They do, BJ - whichever ONE will get them grant funding and/or power over the little people at the momemt.
Posted by: Barbara Skolaut || 01/01/2009 15:29 Comments || Top||

#6  Dr Ian Fairchild, lead investigator, said: "We came up with an independent test of a theory that the earth, like a baked Alaska pudding, was once hot on the outside, surrounding a cold, icy surface.

Somebody, get the PhD Revoking CommitteeTM on the horn!
Posted by: Poison Reverse || 01/01/2009 15:33 Comments || Top||

#7  you see it is because of all the trapped heat that it is getting so cold. ;)
Posted by: Abu do you love || 01/01/2009 15:37 Comments || Top||

#8  Trying to follow this logic is making my brain hurt.
Posted by: DarthVader || 01/01/2009 15:53 Comments || Top||

#9  The Financial Turmoil and Deepening Recession has reached academia. Hell and they call Bushitler a fearmonger.... he's an amateur.

Posted by: .5MT || 01/01/2009 15:55 Comments || Top||

#10  This would be the Sturtian and Marinoan glaciation period of the pre Cambrian era.

This was before the earth had much vegetation and the atmosphere had very little free oxygen.

The article does sound like drivel perhaps the scientific paper makes sense (or perhaps its worse drivel).
Posted by: mhw || 01/01/2009 16:13 Comments || Top||

#11  Well gosh. According to Wikipedia, which I'm sure our good Dr. Fairchild can't be bothered to read because, after all, he's an expert, 630 million years ago was the end of the second "Snowball Earth" period, when the glaciers covered all or almost all of the entire planet, oceans included. One supercontinent was breaking up in order to form a second... leaving the watery bits unmoderated by intermixture with those pointy land bits that gain and lose heat so differently. If I recall correctly, this being yet another subject on which I am not expert, the supercontinents when not covered by glaciers were mostly desert in their interiors, with therefore very little in the way of green plants to absorb the carbon dioxide, thus driving up the CO2 level.

We have no supercontinent today, the desert area is relatively small compared to the amount covered by green plants, and the seaweed in the ocean is thriving, absorbing at least as much if not more CO2 than the land plants. Oh, and we are not at the end of a Snowball Earth ice age. Other than that, I've no doubt the good Dr. Fairchild's theory about the near future holds precisely true.
Posted by: trailing wife || 01/01/2009 16:16 Comments || Top||

#12  I want to know about the ozone hole!! Has everyone forgotten the ozone hole???
Posted by: Scooter McGruder || 01/01/2009 17:02 Comments || Top||

#13  The ozone hole was a scam. The "green" scientists used the weather GEOS to take thermal pictures of the North Pole during an aurora. The aurora made the satellite pics look like there was a hole in the ozone.

This and other cheap camera tricks provided plenty of tax payer funding for the universities out there.
Posted by: Poison Reverse || 01/01/2009 17:16 Comments || Top||

#14  Hell, why don't they just tell us what "offerings" we need to make to appease some angry god/s while they're at it? It would make about as much sense as this drivel.
Posted by: Cornsilk Blondie || 01/01/2009 17:22 Comments || Top||

#15  It's the eighties again! Woo Hoo!
Posted by: Scott R || 01/01/2009 18:28 Comments || Top||

#16  As I have been saying for over 3 years...Negative phase of the PDO. We have now gone negative with the AO. And now...the sunspot minimum which has now been physically linked to long tern atmospheric and oceanic cooling.
Posted by: anymouse || 01/01/2009 18:56 Comments || Top||

#17  Actually, Poison Reverse, the ozone hole turned out to be an entirely natural phenomenon, which has always been present over the Antarctic for about 6 weeks at dawn (i.e. polar spring: they have a six month daytime and a 6 month night-time). It requires temperatures below -30C, which are only available during the polar winter/night and a few weeks afterward, and direct sunlight, which is only available during the polar summer/day. The Arctic never gets cold enough to have an ozone hole. Ozone destruction occurs on the surface of sulfuric acid cloud crystals, and needs to be catalyzed by certain chemicals. Chlorofluorocarbons can do it, but over 80% of the catalysts that actually do it are contributed by volcanoes, not man. The ozone hole has been present since the first observations during the 1957 Geophysical Year, and has not increased in size or magnitude since that time.

Once it was understand that man had no role in the ozone hole and that it couldn't ever expand beyond Antarctica in a 6-week window, everyone lost interest.
Posted by: Skunky Angeack7024 || 01/01/2009 19:02 Comments || Top||

#18  Actually the arctic does have an ozone hole. Its smaller, weaker and shorter lived (some years it isn't detectable).

There was ridiculous priority given to this phenomenon given that nobody suntans in the Antarctic anyway and that's the primary health effect.

Of secondarily interest is that a large ozone hole would, in the numeric models, produce some global cooling.
Posted by: mhw || 01/01/2009 19:19 Comments || Top||

#19  Well 650 Myears ago the Sun was about 4% less bright; so, of course it was colder most of the time most everywhere. Who does peer review on these idiotic climate papers?
Posted by: rammer || 01/01/2009 20:30 Comments || Top||

#20  "Who does peer review on these idiotic climate papers?"

AlBore?
Posted by: Barbara Skolaut || 01/01/2009 20:32 Comments || Top||

#21  Who does peer review on these idiotic climate papers?

I'd suggest bean-counters who see grant $ if you toe the meme
Posted by: Frank G || 01/01/2009 20:47 Comments || Top||

#22  When the main source of funding is the Government, the answer is always going to be more government!

Honesty in science now has to mean the government stepping back from directly funding science.
Posted by: Bright Pebbles || 01/01/2009 21:00 Comments || Top||

#23  Yes the sun wasn't as bright but there is little evidence of glaciation in the billion or so years before the Sturtian and Marinoan period.

Of course the interior of the earth might have been an important source of heat.

The real mystery here is how the Sturtian and Marinoan periods (and other glacial periods) could have ended. With the high reflectivity caused by glaciation, cooling should be self perpetuating. One theory is that the weight of the glaciers made volcanos more active producing carbon dioxide and injecting water vapor into higher altitudes (where it is much more efficient as a greenhouse gas than carbon dioxide). The volcanos might also have produced enough dust to reduce the reflectivity.

We really need a time machine to check this stuff out.
Posted by: mhw || 01/01/2009 21:54 Comments || Top||

#24  ION FREEREPUBLIC > RESEARCHERS: GRAPE-SEEDS CAN KILL CANCER CELLS.

You see, MADONNA, PAULA, this is why Daddy liked 'loved drinking GRAPE SODAS when he was a kid, but NOOOOOOOOOOOOOOOOOOOOOOOOOOOOO certain Female Guam relations demanded to buy TAB + FRESCA instead, thus ruining both CHILDHOOD + MEDICINE + EARTH'S FUTURE.

1980's BLOOM COUNTY Skit > THIS IS WHY ALL WOMEN MUST BE BANNED [among other], LIKE ASBESTOS!
Posted by: JosephMendiola || 01/01/2009 22:08 Comments || Top||


Arabia
A fighter for Saudi women
I do not recognise Wajeha al-Huwaider when I first catch sight of her walking through a smart American suburb wearing a tracksuit, her nails painted bubble-gum pink. She is from Saudi Arabia, where women are so oppressed they are not even allowed to drive, and I had expected her to be dressed from head to toe in black, maybe even wearing a veil.

Bare-headed and pretty, she power-walks past the perfectly trimmed lawns in this peaceful Virginian town near Washington, looking for all the world as if she has just stepped off the set of Desperate Housewives. Huwaider, 47, a human rights activist and writer who has made herself a thorn in the side of the Saudi Government, is in America visiting her two teenage sons, who live with their aunt and uncle and attend school there. We have arranged to meet at 11am at her sister-in-law's house.

In a few days she is due to return to Saudi Arabia, the only country where women legally belong to men, a status that Huwaider is battling to change. In March last year, on International Women's Day, she filmed herself driving in a remote area of Saudi Arabia (where women are allowed to drive). She was appealing to the authorities to lift the ban on female drivers in the rest of the kingdom, which follows one of the strictest interpretations of Islam.

Dressed in black, her head covered but her face visible, she is seen steering her car along country roads and past a few surprised locals. The video caused a sensation. It was picked up by YouTube and has so far received more than 130,000 hits, provoking comments on the site ranging from "You go, girl, I'm proud of you!!!" to "Behead those law-breaking women."

Many Saudis fear that giving women the right to drive would signify an erosion of traditional values. "Women drivers are called whores," says Huwaider. "If a woman is caught driving, she gets taken to the police station and her husband or father is made to sign a document saying that she will not do it again, otherwise she will be put in jail. I thought they would ban me from travelling after I made the video but they didn't. They never even responded. I think they are smarter now — they don't want to make me a hero."

In the past, Huwaider has been detained, interrogated for hours and forced to sign a statement agreeing to desist from all human rights activities. In 2003, she was banned from writing, after saying in an article that young Saudis were increasingly attracted to a Western way of life and would welcome an American invasion. But she continues to write online. And in 2006 she was banned from leaving the country after she stood on a bridge between Bahrain and Saudi Arabia holding a placard addressed to King Abdullah: "Give Saudi women their rights."

At the time she lived with her 14-year-old son in Bahrain and commuted each day into Saudi Arabia to work. A few days later the ban was mysteriously lifted, but Huwaider is still closely monitored. "I know I'm being watched. I can feel it. They listen to my calls. When they arrested me, they kept saying: 'Tell us who is behind you, who is giving you all this power.' I tell them: 'Nobody. I got it from myself."' She is not interested in leaving Saudi Arabia. "Even if I get political asylum today, I'm not going to go for it. I want to do things inside the country."

Huwaider says the ban on women drivers is just the tip of the iceberg. "My dream is to get rid of the system called guardianship," she says, talking rapidly, her eyes bright and impassioned. In Saudi Arabia, women cannot make even the most trivial decisions for themselves. She points at the white shirt I am wearing. "This morning you decided to wear that shirt, it's up to you," she says. "But in Saudi Arabia, it would be up to your male guardian." Women can scarcely leave the house without written permission from a male relative, often a younger brother or even a son. They need permission to travel, work, see a doctor, even to own an identity card.

What frustrates Huwaider most is that she feels society has taken a step backwards in her generation. "I look at my mom's generation and they had more freedom than we did. There were no religious police following women and telling them what to wear. They didn't have to cover up and wear black. They used to travel without permission. They used to run businesses or work on farms. These days, women cannot make any kind of decision. And they have no security. When a woman gets divorced, she loses everything."

It is hard to tell how much of an impact Huwaider has had on Saudi society. Certainly, she has done more than anyone to bring the plight of Saudi women to international attention. She is optimistic that change will happen. "If I didn't have that hope, I would stop my work." Recently there have been a couple of positive signs. A royal decree declared last year allows women to stay in hotels without a male guardian. Previously they were barred from even checking in alone. And King Abdullah, who came to the throne three years ago, is seen as more moderate than previous rulers. He recently took a women's delegation to China and is behind an effort to recruit more female diplomats.

Huwaider says a downturn in the economy might help women regain some freedom. "If we go through an economic crisis, we will gain more rights, because we cannot afford to have women living like princesses and queens with drivers to take them everywhere."

Not all Saudi women welcome her attempts to change their society. "The women can be worse than men (towards me), very aggressive. They are insecure and afraid of losing their husbands. When women are all covered, no one can tell who has a better face. And some women don't want women to drive, because then men will be mixing with women." But she is undeterred. "A lot of people wish I would just disappear. The religious people hate my guts. But I will never stop writing and campaigning, because that is my life. I cannot just keep quiet."
Posted by: ryuge || 01/01/2009 09:14 || Comments || Link || [5 views] Top|| File under:


Caribbean-Latin America
Castro's 50th Anniversary - Human Interest story in NYT
Grief Marks Anniversary of Triumph of Castro

HIALEAH, Fla. -- Four months after they appeared in the waters between Havana and Miami, the four dead men remain nameless. At a morgue in the Florida Keys, they lie on stretchers stacked like bunk beds, their bodies chewed by sharks, their faces too putrified to be recognized.
not bad for the NYTimes; no Castro cheerleading
Obama's coming into office. Expect all the leopards to change their spots and never, ever admit it.

All of a sudden Doonesbury is showcasing the effects of removing Saddam from power & the NYT is downplaying Castro's heroic revolutionary leadership. You'd think Obama is going to have to deal with the real world or something.
Posted by: mhw || 01/01/2009 13:10 || Comments || Link || [7 views] Top|| File under:

#1  the real cuba
Posted by: Bright Pebbles || 01/01/2009 20:34 Comments || Top||


Caucasus/Russia/Central Asia
Russia's Medvedev Signs Constitutional Amendment to Lengthen Presidential Terms
Russian President Dmitry Medvedev signed a constitutional amendment Tuesday extending presidential terms in the country from four years to six, a change that many suspect is intended to benefit his predecessor -- and possible successor -- Prime Minister Vladimir Putin.
Posted by: Fred || 01/01/2009 00:00 || Comments || Link || [2 views] Top|| File under:

#1  Now fall on your sword like a good boy, Dmitry...
Posted by: mojo || 01/01/2009 16:15 Comments || Top||


Fifth Column
Government Backing for Newspapers?
NEW YORK (Reuters) - Connecticut lawmaker Frank Nicastro sees saving the local newspaper as his duty. But others think he and his colleagues are setting a worrisome precedent for government involvement in the U.S. press.
The precedent is set,in places like the former Soviet Union and Cuba
Nicastro represents Connecticut's 79th assembly district, which includes Bristol, a city of about 61,000 people outside Hartford, the state capital. Its paper, The Bristol Press, may fold within days along with The Herald in nearby New Britain.
Pun intended.
That is because publisher Journal Register, in danger of being crushed under hundreds of millions of dollars of debt, says it cannot afford to keep them open anymore.

Nicastro and fellow legislators want the papers to survive, and petitioned the state government to do something about it. "The media is a vitally important part of America," he said, particularly local papers that cover news ignored by big papers and television and radio stations.
You want government to do something about it? How about reducing the size of government just for starters.
If it's that vital, shouldn't someone in the private sector pony up the money in return for a share of the profits? Oh, sorry, what profit ...
To some experts, that sounds like a bailout, a word that resurfaced this year after the U.S. government agreed to give hundreds of billions of dollars to the automobile and financial sectors.
An ultimately futile bailout, BTW. Government spending is almost always a wash, transferring money from one bucket to another with near zero benefit for any sector save for government.
Relying on government help raises ethical questions for the press, whose traditional role has been to operate free from government influence as it tries to hold politicians accountable to the people who elected them. Even some publishers desperate for help are wary of this route.
The problem for newspapers are strictly economic. There was a time 20 years ago in which newspapers could have set the stage for their survival in an increasingly digital world, by improving their very quality. Currently, in nearly every market I would place journalistic quality of enwspapers an order of magnitude above electronic media simply because newspapers do the hoofing needed to gather actual news and write about it cleanly, simply and without any personal or political bias.

The point of no return blew by in 1995 and there is precious little they can do about it now.

And no: a government bailout won't help anyone save for government.
Posted by: badanov || 01/01/2009 07:56 || Comments || Link || [5 views] Top|| File under:

#1  Sadly, I predict that they will be successful in their efforts. When you come to realize that we have been sold out, all of the madness begins to make sense.
Posted by: Shalet and Tenille1168 || 01/01/2009 8:49 Comments || Top||

#2  This would be more payback than bailout.
Posted by: Grunter || 01/01/2009 9:12 Comments || Top||

#3  There is no saving the Bristol Press -- it was dead back when I wrote for it in the 1980s, but too stubborn to recognize it. Connecticut is dominated by a statewide paper (the Hartford Courant), which is itself dying -- a Trib-owned rag that has cut back to becoming almost a parody of a high school paper.

Not that this is any great loss -- the paper has not written a single news story (aside from a couple of Sat. Op-Eds from a Republican functionary) about its brazenly crooked Sen. Chris Dodd (D-Countrywide) who is the primary wirepuller of the financial meltdown.

Newspapers have devolved into Fan-zines of government, and you will see those in government committed to make them formally into wholly owned newsletters.

Their de-evolution would not be a big deal except that both broadcast and internet media basically rip-and-read what's in the dead woods.
Posted by: regular joe || 01/01/2009 10:07 Comments || Top||

#4  It worked great for Pravda.
Posted by: bigjim-ky || 01/01/2009 12:07 Comments || Top||

#5  "The media is a vitally important part of America,"

Obviously they confuse technology with content. The means of communication are there, open, and flowing, just not the same old self-important ego centrics with a death grip on the conduit. With the near term integration of personal cell phone w/camera technology and the net, there will evolve multiple providers who'll deliver news and information without the hysterically hypocritical proclamation of 'independent' by sock puppets of special interests and dogma. Get the friggin loyal party members subsidize you from their coffers.
Posted by: Procopius2k || 01/01/2009 12:09 Comments || Top||

#6  I've known Frank for decades. He's a great guy, but he's wrong on this. I understand why he's angling for this, but he's wrong.

regular joe - heh, small world (my sister worked for the Press).
Posted by: Pappy || 01/01/2009 12:27 Comments || Top||

#7  When newspapers became propaganda organs of parties and groups instead of news providers then the writing was on the wall....
Posted by: 3dc || 01/01/2009 13:06 Comments || Top||

#8  "I truly believe that no democracy can remain healthy without an equally healthy press," said Fiedler, now dean of Boston University's College of Communication. "Thus it is in democracy's interest to support the press in the same sense that the human being doesn't hesitate to take medicine when his or her health is threatened."

The 'Press' is healthy and probably hasn't been healthier. The problem is that most people (like this idiot) think the Press is solely the MSM. It isn't - not anymore. Today's press is Blogs like Rantburg, Hot Air, Little Green Footballs, and yes even the Daily Kos and Huffington Post. It is also independent reporters like Michael Yon. Some give balanced news, some unbalanced hype (which people will eventually catch on to and they will eventually wither and die too). Some, like Rantburg, have knowledgable people who know their field (unlike the MSM which often quotes self-proclaimed 'experts' who don't know their ass from a hole in the ground).

The MSM is what is failing - and deserves to die. The Old Grey Whore Lady, CNN, CBS, and others has squandered their credibility and are now in danger of extinction.

I say let them die. Extinction is a completely natural process which makes way for more advanced species. The Press will survive just fine.
Posted by: CrazyFool || 01/01/2009 14:05 Comments || Top||

#9  Pappy some very talented people wrote for the paper; I was not one of them.
Posted by: regular joe || 01/01/2009 14:50 Comments || Top||

#10  Patterico has regularly taken down the LA Times for their rubbish and propaganda published as news (see today's column by Rosa Brooks on why Israel's at fault: "you can't bomb your way to peace, Israel), but his year-end review is worth a read as to why these unethical, untalented, political-hack, fuckers need to join the unemployment line, stat
Posted by: Frank G || 01/01/2009 17:03 Comments || Top||

#11  They do a media bailout I'm done paying taxes.
Posted by: Hellfish || 01/01/2009 21:09 Comments || Top||

#12  Nicastro and fellow legislators want the papers to survive, and petitioned the state government to do something about it.

When I said "I know what he's trying to do", I sumrise it's not really so much about the papers' survival as it is their host communities' relevance.

When Connecticut was first established, the center of power was set in the state government; towns exists at the sufferance of the state. Their only source of income outside of state largesse is property taxes, Which means there are some well-to-do areas, and some not-so well off areas (often times caused by self-inflicted wounds).

Now the big push in Connecticut is 'regionalization', meaning that communities around the major cities (Hartford, Bridgeport, New Haven) are supposed to be lumped in with, and forced to support, those urban sinkholes. Think of them as post-modern counties.

If communities like Bristol and its surrounding areas can give the appearance that they are relevant and viable communities, they can argue that they shouldn't be lumped in with the Hartford-money-down-the-drain donor towns.
Posted by: Pappy || 01/01/2009 21:35 Comments || Top||

#13  No no no no no fucking NO!


No government funding of the press. It sslanted enough to ward collectivism and government power as it is now. And that's one of the reason;s its failing: its not reporting the news, its INTERPRETING the news, and failing to do its job in a democracy: *accurately* and *completely* informing the voting public.
Posted by: OldSpook || 01/01/2009 21:57 Comments || Top||


Home Front Economy
Oil prices jump 14% as year ends
Oil prices have jumped after Russia's decision to shut down a natural gas pipeline to Ukraine and over the US's latest supply data.

On Wednesday, Light, sweet crude for February delivery rose $5.57, or 14.2%, to settle at $44.60 a barrel on the New York Mercantile Exchange.

US markets will be closed Thursday for the New Year's holiday and many market participants were off Wednesday.

Wednesday's rally picked up steam in the afternoon following reports that Russian energy giant Gazprom will cut off gas supplies to neighboring Ukraine beginning Thursday because of a dispute over unpaid bills.

The supply disruption could affect energy prices in western European markets.

Few market analysts believe crude prices in 2009 will not fall further and rebound next year.

In 2008, oil prices jumped to unprecedented heights only to give up four years of gains in just five months.
Posted by: Fred || 01/01/2009 00:00 || Comments || Link || [1 views] Top|| File under:

#1  There's a political future or at least a few PhD's in that market activity. Sure sounds like someone was manipulating the price to make some index or year/quarter end price level. Hope the SEC and Merc are examining the trading records.

The good news is the headline on Friday will show substantial drops in the price.
Posted by: Halliburton - Mysterious Conspiracy Division || 01/01/2009 11:47 Comments || Top||

#2  Paging Mark Espinosa....
Posted by: .5MT || 01/01/2009 15:59 Comments || Top||



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