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..There's a little Samuel Pepys in all of us..

Tuesday, April 17, 2007

Several points of interest today..
Lets start with the UN Security Council's meeting today, to discuss the effects of 'global warming'..
Now, this hits on on several levels here.
One: It is a formal acknowledgement by a major world institution, that we're in trouble.
Two: It points out that this trend towards changing climate will have 'security' consiquences.. especially in Africa. That it could lead to more mass migrations, as people leave land left arid, for literally greener pastures. Thos already occupying these lands might not be too receptive to immigrants.. yet where are these millions to go?
So, the Security Council is now, no doubt, formulating contingency plans, not to stop the process of weather change, but to deal with the violence it will produce.
Pity they haven't more clout with those countries who are responsible for the acceleration of this process..
But, the die is cast, and one believes there is no way back.
Not now.

Britain's £ went past the £2Am point for the first time in 15 years, albeit briefly, today. And this is not good news..
It would seem at first glance, to those living on this island, that it's great news.. that the £ will now buy them loads more when they go abroad.
But, it means that with the British inglation rate now sitting at 3.2%, and our key interest rate standing now at 5.25%, it is more than a certainty that when the Bank of England sets the new Interest Rate on May 10th, it will be 5.5% if not higher.
This means, that those who have just climbed laboriously unto the housing ladder, will find their mortgage rates increasing substantially, and our banks will end up being perhaps the largest real estate conglomerate in the country.
The dollar is sliding.. against the £.. against the Euro.. and this points to slower American investment in British and European business expansion. This slide, coupled with inevidable interest rate hikes in Britain and Europe, will eventually lead to more plant closures.. movements into Eastern Europe where, even though the currency is the Euro, labour costs are considerably cheaper.. and this will lead to British unemployment, and plant closures.
Again, it comes back to the banks owning more and more property, as people find themselves unable to keep up mortgage payments..
A vicious circle..?
More like an insidious spiral..

And finally, for the moment, Einstein has been proven to be spot on with one of his postulates.. that being 'The Geodetic Effect'..
This effect, if one will excuse an analogy, is one caused by say, putting a bowling ball in the middle of a stretched piece of rubber.. naturally there will be an indentation..distorting the rubber sheet around itself in much the way a massive object such as the Earth distorts space and time around itself.
If the bowling ball is then rotated, it will start to drag the rubber sheet around with it. In a similar way, the Earth drags local space and time around with it - ever so slightly - as it rotates.
This has been measured by NASA's Gravity Probe 'B' satellite.. launched some 4 years ago..
Now.. they working on proving the second half of Einsteins theory..The scientists from Stanford are still trying to extract its signature of frame-dragging from the data.
We should see those results sometime in December..

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