Markets dragged down by credit crisis

Friday, August 10, 2007

Global stock markets fell today, in a mass sell-off stemming from the sub-prime mortgage crisis in the United States. The Dow Jones Industrial Average rebounded late in the day after falling more than 250 points, ending the day down about 31 points. The UK’s FTSE-100 index fell 232.90 points to 6038.30, and Japan’s Nikkei 225 fell 406.51 points to 16764.09.

Central banks across the world are injecting funds into their banking systems to add liquidity, fearing that many financial firms with subprime ties will be insolvent. Yesterday, the U.S. Federal Reserve transferred US$24 billion to temporary reserves, following the European Central Bank, which authorized a record €83.6 billion addition to its banks, its biggest cash infusion ever. On Friday, the Fed entered into a $38 billion repurchase agreement of mortgage-backed securities, easing stockholder worries. Also on Friday, the Bank of Japan injected ¥1 trillion into Japan’s financial system.

The Federal Reserve met this week, but decided to maintain its target rate of 5.25%, although on Friday the federal funds rate was hovering around 6%, indicating a drop in liquidity.

The volatile week began last Friday with Bear Stearns tumbling as a result from its complete loss of two major hedge funds worth more than $1.5 billion. The hedge funds had been dangerously exposed to the massive sub-prime mortgage failure, and the company announced it was unable to return any money to investors.

Washington Mutual, and Countrywide Financial, both very large U.S. home loan lenders, saw shares fall. Countrywide Financial made a statement this week, saying they will be forced to retain a greater proportion of mortgage. American Home Mortgage Investment Corp, another large lender, recently filed for bankruptcy. The U.S. housing market has been declining for more than two years after the Federal Reserve raised interest rates 17 times. Now, lenders are in a quagmire from millions of people who are unable to repay loans after taking adjustable rate mortgages, teaser rates, interest-only mortgages, or piggyback rates.

Jim Cramer, of CNBC’s Mad Money, remarked that as many as seven million people will lose their homes from bad mortgages. Last Friday, Cramer went on a tirade on CNBC’s Street Signs, saying that the “Fed was asleep” and called for them to lower rates immediately.

Asian and European markets have become increasingly entangled in the subprime mortgage crisis in the U.S. Deutsche Bank of Germany lost almost $3.5 billion in share value, forcing the government to organize a bail-out. France’s largest bank, BNP Paribas SA, halted withdrawals from three large investment funds which were crippled by sub-prime exposure.

Retrieved from “https://en.wikinews.org/w/index.php?title=Markets_dragged_down_by_credit_crisis&oldid=2295789”
Leave a comment

Main Page

Welcome to Wikinews
The free news source you can write!
Saturday, June 18, 2022, 0450 (UTC)
Copy us • Newsroom • Mission • Report breaking news • Donate
Audio Wikinews • Social media • Chat • Best of Wikinews

Grand jury indicts man in assassination plot against U.S. Supreme Court Associate Justice Brett Kavanaugh

On Wednesday, a man from Simi Valley, California was indicted in a plot to assassinate U.S. Supreme Court Associate Justice Brett Kavanaugh.

[ML] [ ± ] – Image credit – Read more…

Latest news ±

  • Grand jury indicts man in assassination plot against U.S. Supreme Court Associate Justice Brett Kavanaugh
  • Canada, Denmark agree to resolve Arctic border dispute
  • Western Australia Nationals MP Vince Catania to resign from state parliament
  • Trial for accused rapist of Brittany Higgins set to begin on June 27
  • Proud Boys indicted for conspiracy over January 6 U.S. Capitol riots
  • Scientists discover seagrass off Australia is world’s largest plant
  • Ethics chief: UK PM’s reforms after Partygate “highly unsatisfactory”, won’t “restore public trust”
  • Elon Musk emails tell Tesla employees return to office, or “assume you have resigned”
  • BBC apologises after ‘Manchester United are rubbish’ appears on news ticker
  • Attack at Texas elementary school kills at least 19, including 18 children
  • V/Line regional trains in Victoria, Australia disrupted after communications fault
  • UAE President Sheikh Khalifa dies at 73
  • Bans off Our Bodies protests occur across United States after leaked Supreme Court draft
  • UK defers junk food deals, advertisement restrictions
  • Finnish President, Prime Minister announce support for joining NATO
  • Motion on transgender women in sports defeated in Queensland Parliament
  • Ballarat candidates debate climate at election forum
  • Ballarat residents protest for climate action
  • Brothers Sunshine Coast pick up first win in senior rugby at Australia’s University of the Sunshine Coast
  • Macron defeats Le Pen in French presidential runoff election
» Older news

Canada, Denmark agree to resolve Arctic border dispute

A long-standing and mainly good-natured border dispute between Canada and Denmark over the uninhabited Hans Island in the Arctic Sea is to be resolved, with the Danish Foreign Ministry confirming Tuesday the nations have agreed to divide it in two.

[ ± ] – Image credit – Read more…

Western Australia Nationals MP Vince Catania to resign from state parliament

Nationals MP Vince Catania, who represents North West Central, will resign from Western Australia’s Parliament in August, reports indicated Friday.

[ ± ] – Image credit – Read more…

Trial for accused rapist of Brittany Higgins set to begin on June 27

The trial of Bruce Lehrmann, who is accused of raping former Australian parliamentary staffer Brittany Higgins, is scheduled to begin on June 27, after it was confirmed Wednesday that Canberra barrister Steven Whybrow would represent Lehrmann.

[ ± ] – Image credit – Read more…

Ethics chief: UK PM’s reforms after Partygate “highly unsatisfactory”, won’t “restore public trust”

Chair of the Committee on Standards in Public Life Jonathan Evans criticised UK PM Boris Johnson’s proposed changes to the ministerial code as “highly unsatisfactory”.

[ ± ] – Image credit – Read more…


Africa • Asia • South / Central / North America • Europe • Middle East • Oceania • Antarctica


Crime and law • Culture and entertainment • Disasters and accidents • Economy and business • Education • EnvironmentHealth • Obituaries • Politics and conflicts • Science and technology • Sports • Wackynews • Weather


Recent interviews   ±

  • Brothers Sunshine Coast pick up first win in senior rugby at Australia’s University of the Sunshine Coast
  • UK clarifies foreign, domestic response to cost of living crisis
  • Grand Finals set in 2021-22 Sunshine Coast, Australia cricket season
  • Wikinews interviews RSL Australia for Remembrance Day 2021
» More

Original reporting±

First-hand journalism by our reporters 

  • Ballarat candidates debate climate at election forum
  • Ballarat residents protest for climate action
  • Brothers Sunshine Coast pick up first win in senior rugby at Australia’s University of the Sunshine Coast
  • UK clarifies foreign, domestic response to cost of living crisis
» More

A Wikimedia project

About Wikinews±

We are a group of volunteers whose mission is to present reliable, unbiased and relevant news. All our content is released under a free license. By making our content perpetually available for free redistribution and use, we hope to contribute to a global digital commons. Wikinews stories are written from a neutral point of view to ensure fair and unbiased reporting.

Wikinews’s best work   ±In most recently promoted order.

  • ‘Earth-based life can survive in hydrogen-rich atmospheres’: MIT professor Dr Seager tells Wikinews about her research on organisms thriving in oxygen-less environment
  • Neanderthals ‘knew what they were doing’: Archæologist Dr Naomi Martisius discusses her findings about Neanderthals’ behaviour with Wikinews
  • “Avast ye scurvy file sharers!”: Interview with Swedish Pirate Party leader Rickard Falkvinge
  • Iranian International Master Dorsa Derakhshani discusses her chess career with Wikinews
  • Wikinews investigates disappearance of Indonesian cargo ship Namse Bangdzod
» More
Around Wikinews±

  • Introduction to Wikinews
  • Policies and guidelines
  • How to write a good article
  • Wikinews discussion forums
  • Request an interview
  • Contact us

Wikinews in other languages


Sister projects

» More Wikinews stories

Retrieved from “https://en.wikinews.org/w/index.php?title=Main_Page&oldid=4568285”
Leave a comment

The Wall Street Movement What’s Really Behind It

By Elihu Brown

PART 1

I had been hearing the rumors for decades. When the planes flew into the twin towers, I wasnt surprised, and yet, I stared at the TV in horror and disbelief. It was hard to believe what I was seeing. It was as if someone was playing a cruel joke; a sick social experiment, manipulating the public by use of modern technology to distort and alter digital images and inducing panic, similar to, and a modern day version of, Orson Welles War of Worlds. But this was no joke. It was not a hoax. It was real. These buildings, almost sacred monuments, smoking, on fire and still standing at the time, were real, real people were trapped inside of them. And this was happening live, in real time, right in front of my eyes, in the eyes of millions of others, and it was happening in New York City! In America! I knew then that that everything Id been hearing and reading about for so long was true. I knew that this atrocity would mark the beginning, the beginning of the end of this system of things as we know it. And we were going to see a whole lot more before it was all over.

I expected to see more of this same type of terrorism in the days and months to follow but that would not happen. Ten years would go by and no major acts of foreign terrorism would take place on American soil. Instead, our attentions would be diverted and our appetites for revenge, somewhat appeased when war was declared on Iraq. The war would last over ten years and, all the while, a far more insidious and systematic form of terrorism would be taking place just under our awareness. Beginning with Enron, American banks, corporations, Wall Street brokers and CEOs, would embark on, what would amount to, an all out assault against unsuspecting investors, taxpayers and workers in a brutal and shameless campaign of greed and deception for profit. 2.6 million manufacturing jobs would be sent overseas and 8 million full-time jobs would be lost altogether. There would be a boom in the housing industry not seen since the end of world war two and many on Wall Street would become millionaires hedging their bets against sub prime securities. The growing bubble would burst and nearly 4 million homeowners would lose their homes to foreclosure and 5 million more would face foreclosure, being 90 days or more behind on their mortgages. Income disparity between the rich and poor would continue to widen. Lower and middle income workers would see an increase of 16 and 25 percent in their wages, respectively, over a thirty year period, while the top one percent would see an increase of 281 percent in income over the same period. In 2007, CEOs made 344 dollars to every one dollar made by American factory workers. Even the median income disparity between Members of Congress and the people they serve grew disproportionately. Between 1984 and 2009 the median income of members of congress rose 21/2 times from $280,000 to $725,000, while the median wealth for families declined, from $20,600 to $20,500. American corporations would report record profits during the decade and spend more on lobbying interests than they would in taxes. Because of loose regulations on Wall Street; billions of dollars would be lost in pension fund investments and insider trading laws would not apply to members of Congress. Rescued banks would sit on trillions of taxpayer bailout money, refusing at the same time to approve loans for small businesss and individuals to help jumpstart a devastated economy. And none of those guilty of unethical and/or unscrupulous practices on Wall Street would be jailed or fined.

Meanwhile, the war in Iraq would prove just as costly, especially in light of the fact that the American public had been duped into believing that the country was harboring weapons of mass destruction, the premise the government would use to wage war against the country. In all, it is estimated that up to 100,000 people lost their lives. Countless others were permanently injured or disabled. Almost one trillion dollars would be spent to fund the war. And, making matters even more distasteful is the fact that no weapons of mass destruction were ever found in Iraq. The American public had been lied to. The United States went to war against a country that posed no threat to its national security. The war was invented, it turns out, a convenient excuse for corporate capitalists to go there and make profit, a very costly price to pay on the war against terror. By the end of the decade America had indeed been terrorized and lie on the brink of economic ruin.

[youtube]http://www.youtube.com/watch?v=JGAzGxDFxZY[/youtube]

The Evolution of Consciousness

There is an interesting book called The Origin of Consciousness in the Breakdown of the Bicameral Mind, by Dr. Julian Jaynes, a Princeton Professor. In the book, Dr. Jaynes, postulates that there was a time, around 3,000 years ago, when man was not a fully conscious being. Guided primarily by the right hemisphere of his brain, he had a bicameral mind, and was thus prone to hearing voices and having visual hallucinations. These he would perceive as commands and attribute them to the gods, to an authority outside of himself. Although highly intelligent, capable of building cities, monuments and temples to his gods, primitive man was instinctual, without reason and functioned much like the animals around him. He was aware only of the present. He did not have the ability to introspect, or to think in terms of the past and future. He was an automaton, amoral, and prone to follow and obey authority without question. He was not yet fully conscious. The breakdown of his bicameral state would be the result of his having to form new ways of solving problems to meet the increasing demands of a world growing in complexity. His growing in consciousness and becoming a fully conscious human being therefore, would happen over a gradual period of time and, according to Jaynes, quite by accident.

However correct Jaynes theory may be, it would be a mistake to assume that it would apply to all of the population at that time. What is not acknowledged is the importance of the Mystery School. Every pagan nation had not only its state religion, but another into which only an elect few gained entrance. In all cities of the ancient world were temples for public worship and offering. In every community also were philosophers and mystics, deeply versed in natures lore. These individuals usually came together and formed seclusive philosophic and religious schools. These were called the Mysteries. After being admitted, the initiate would have access to instruction that had been preserved for ages. And so it was that the philosophic-religious doctrines of the pagans were divided to meet the needs of these two fundamental groups of human intellect- one philosophic and conscious, the other bicameral and incapable of appreciating the deeper mysteries of life. To the discerning few were revealed the esoteric, or the hidden meaning behind the things seen, while the somnambulant multitude received only the literal, or exoteric interpretations. Again, because of bicameral mans inability to grasp abstract principles such as love, compassion, and empathy, he was given direct commands such as the Ten Commandments to help regulate his conduct and behavior. In order to make simple the great truths of Nature and the abstract principles of natural law, the vital forces of the universe were personified, becoming gods and goddesses. While the ignorant masses brought their offerings of sacrifice and lie prostrate in worship before the altars of Priapus and Pan (deities representing the procreative energies) the initiate, however, recognized these statues, not as gods or goddesses, but as symbols of greater abstract truths.

Guardians of the Mystery

Jaynes, attributes the eventual breakdown of bicameralism and the loosening of auditory influence and visual hallucinations, to several factors but mostly to the written word and the use of metaphor therein. He says,

once the word of god was silent, written on dumb clay tablets or incised into speechless stone, the gods commands or the kings directives could be turned to or avoided by ones own efforts in a way that auditory hallucinations never could be. The word of god had a controllable location rather than a ubiquitous power with immediate obedience.

Bicameral man would, over time and one by one, become conscious. The Ancient Adept, however, already was so, and had been for ages. Jaynes gives credit to Solon, the Greek philosopher who lived during the sixth century B.C.E, as being one of the first from the ancient world to display the traits of being fully conscious. Ironically, Solon also happens to be the founder of a mystery school and has been largely credited with the phrase Man know thyself, which hung over the entrances of many of the ancient mystery schools of the era. But long before Solon, all the way back to ancient Egypt, the Great Pyramids, the Sphinx, and before, the Mysteries and conscious men existed. In his book, The Secret Teachings of all Ages, Manly P. Hall, a 32nd degree, Mason, says,

Although the Mystery schools are usually associated with civilization, there is evidence that the most uncivilized peoples of prehistoric times had a knowledge of them. Natives of distant islands, many in the lowest forms of savagery, have mystic rituals and secret practices which, although primitive, are of a decided Masonic tinge.

As there have always been rulers and a ruling class, both wise and unwise, so too, there have been the Mysteries, and the teachings of which, have been used for both good and evil. From the mystery schools of antiquity all the way down to the elect few inside the secret societies of today, the Adept, the Priestly Class, have always been, and still are, the guiding influence behind the thrones of all nations, throughout all time. During an age when the majority of mankind slept in darkness, superstition and ignorance, the secret knowledge was the single and only light, and the chief causal agent that would guide and assist primitive man on his slow and arduous trek of evolution; from his lost estate to the regeneration of his soul and the reawakening of the spiritual powers within himself. Until then, the Adept, would serve as guardians of the sacred pronouncements until the appointed time, when bicameral man had sufficiently grown and was able to become fully conscious on a massive scale. Plato, an initiate of one of these secret orders, was severely criticized because in his writings he revealed to the public many of the secret philosophic principles of the Mysteries. But it was with the coming of Jesus, who, it is believed, studied with the Essenes, that would signal the appointed time to reveal and no longer keep hidden the Sacred Secret, namely that the kingdom of God was near, and was in fact, within or in the midst of the individual. Jesus was making aware, the people, of their own divinity. They were not powerless, insignificant cattle. His coming would also signal the end of bicameralism and the awakening of consciousness en masse. In opposition to Jesus were the priests in positions of influence and power and who were perverting the sacred teachings for personal and political gain. In order to hold on to that power and keep control of the masses they would eventually have him killed. Without this light, the multitude would again fall back and be herded as sheep-like followers. Centuries of darkness and servitude would ensue. But the mustard seed had been planted. Consciousness had taken root and would continue to grow.

END PART 1 OF 2

About the Author: Elihu Brown is an author based in Akron, Ohio.To meet the guidelines of the publisher key points have been edited from this article. To read the essay in its entirety, Visit us at;

Colorboy.org/blog

Source:

isnare.com

Permanent Link:

isnare.com/?aid=1333212&ca=Opinions

Posted in Forex Broker | Leave a comment

Australian jockey Stathi Katsidis found dead at age 31

Thursday, October 21, 2010

One of Australia’s leading jockeys Stathi Katsidis has been found dead at the age of 31. He was found dead on Tuesday morning by his fiancee, Melissa Jackson.

Katsidis died less than a week before he was due to ride in the Cox Plate and was set to ride in the Melbourne cup in November. He was going to be riding former Australian Derby winner Shoot Out.

Born in Toowoomba, Katsidis had recorded over 170 victories last season. He had success in both the Australian Derby and the Group One Randwick Guineas. He suffered a knock back in 2008 when he was banned for nine months after testing positive for ecstasy. He had previously battled drug and weight problems in the past.

“He was a terrific guy, loaded with ability and is going to be sadly missed.

Tributes have been paid to Katsidis both jockey’s and trainers. John Wallace, the trainer of Shoot Out said “He told me he couldn’t wait to get to Melbourne and that he’d be down on Thursday. It’s a total shock.” Jockey Corey Brown said “He was a terrific guy, loaded with ability and is going to be sadly missed.”

Police have said that no suspicious circumstances surrounding Katsidis death. His fiancee has said that she suspects alcohol to be a factor in his death. Katsidis had been out drinking with friends on the night before his death. “Jockeys have to lose so much weight. Their bodies are drained like anorexic young girls. Then some of them go out and try drinking like men with big, strong bodies. It hits them like a brick wall. I just hope some of the other jockeys get a message from this.”

His funeral has been set for next Tuesday; exact plans have yet to be released.

Retrieved from “https://en.wikinews.org/w/index.php?title=Australian_jockey_Stathi_Katsidis_found_dead_at_age_31&oldid=1585577”
Leave a comment

Chula Vista, California becomes model for blight control laws in the US

Tuesday, October 14, 2008

The San Diego, California suburb of Chula Vista has responded to the recent housing crisis with an aggressive blight control ordinance that compels lenders to maintain the appearance of vacant homes. As foreclosures increase both locally and throughout the United States, the one year old ordinance has become a model for other cities overwhelmed by the problem of abandoned homes that decay into neighborhood eyesores.

Chula Vista city code enforcement manager Doug Leeper told the San Diego Union Tribune that over 300 jurisdictions have contacted his office during the past year with inquiries about the city’s tough local ordinance. Coral Springs, Florida, and California towns Stockton, Santee, Riverside County, and Murietta have all modeled recently enacted anti-blight measures after Chula Vista’s. On Wednesday, 8 October, the Escondido City Council also voted to tighten local measures making lenders more accountable for maintenance of empty homes.

Lenders will respond when it costs them less to maintain the property than to ignore local agency requirements.

Under the Chula Vista ordinance lenders become legally responsible for upkeep as soon as a notice of mortgage default gets filed on a vacant dwelling, before actual ownership of the dwelling returns to the lender. Leeper regards that as “the cutting-edge part of our ordinance”. Chula Vista also requires prompt registration of vacant homes and applies stiff fines as high as US$1000 per day for failure to maintain a property. Since foreclosed properties are subject to frequent resale between mortgage brokers, city officials enforce the fines by sending notices to every name on title documents and placing a lien on the property, which prevents further resale until outstanding fines have been paid. In the year since the ordinance went into effect the city has applied $850,000 in fines and penalties, of which it has collected $200,000 to date. The city has collected an additional $77,000 in registration fees on vacant homes.

Jolie Houston, an attorney in San Jose, believes “Lenders will respond when it costs them less to maintain the property than to ignore local agency requirements.” Traditionally, local governments have resorted to addressing blight problems on abandoned properties with public funds, mowing overgrown lawns and performing other vital functions, then seeking repayment afterward. Chula Vista has moved that responsibility to an upfront obligation upon lenders.

That kind of measure will add additional costs to banks that have been hit really hard already and ultimately the cost will be transferred down to consumers and investors.

As one of the fastest growing cities in the United States during recent years, Chula Vista saw 22.6% growth between 2000 and 2006, which brought the city’s population from 173,556 in the 2000 census to an estimated 212,756, according to the U.S. Census Bureau. Chula Vista placed among the nation’s 20 fastest growing cities in 2004. A large proportion of local homes were purchased during the recent housing boom using creative financing options that purchasers did not understand were beyond their means. Average home prices in San Diego County declined by 25% in the last year, which is the steepest drop on record. Many homeowners in the region currently owe more than their homes are worth and confront rising balloon payment mortgages that they had expected to afford by refinancing new equity that either vanished or never materialized. In August 2008, Chula Vista’s eastern 91913 zip code had the highest home mortgage default rate in the county with 154 filings and 94 foreclosures, an increase of 154% over one year previously. Regionally, the county saw 1,979 foreclosures in August.

Professionals from the real estate and mortgage industries object to Chula Vista’s response to the crisis for the additional burdens it places on their struggling finances. Said San Diego real estate agent Marc Carpenter, “that kind of measure will add additional costs to banks that have been hit really hard already and ultimately the cost will be transferred down to consumers and investors.” Yet city councils in many communities have been under pressure to do something about increasing numbers of vacant properties. Concentrations of abandoned and neglected homes can attract vandals who hasten the decline of struggling neighborhoods. Jolie Houston explained that city officials “can’t fix the lending problem, but they can try to prevent neighborhoods from becoming blighted.”

HAVE YOUR SAY
Does Chula Vista’s solution save neighborhoods or worsen the financial crisis?
Add or view comments

CEO Robert Klein of Safeguard, a property management firm, told the Union Tribune that his industry is having difficulty adapting to the rapidly changing local ordinances. “Every day we discover a new ordinance coming out of somewhere”, he complained. Dustin Hobbs, a spokesman from the California Association of Mortgage Bankers agreed that uneven local ordinances are likely to increase the costs of lending. Hobbs advised that local legislation is unnecessary due to California State Senate Bill 1137, which was recently approved to address blight. Yet according to Houston, the statewide measure falls short because it fails to address upkeep needs during the months between the time when foreclosure begins and when the lender takes title.

Retrieved from “https://en.wikinews.org/w/index.php?title=Chula_Vista,_California_becomes_model_for_blight_control_laws_in_the_US&oldid=4202756”
Leave a comment

Oakland, California record release party catches fire

Sunday, December 4, 2016

A fire broke out at a record release party in Oakland, California late on Friday night. Nine were confirmed dead the following morning with the death toll rising to 24 the next day.

The warehouse, known as Ghost Ship, was hosting a party for the release of the newest album by Joel “Golden Donna” Shanahan. It is in Oakland’s Fruitvale neighborhood, a mix of commercial and residential buildings nestled together. The structure is one block away from Fire Station No. 13 and at least 55 firefighters spent four hours containing and stopping the fire which began at approximately 11:30 p.m.

Firefighters and police cordoned off the block to spectators. The two-story, mixed-use structure also housed the artist collective Satya Yuga who hosted the show and is being searched by firefighters. Out of approximately 50 attendees, at least 25 were declared missing. Shanahan was among the survivors.

Efforts to rescue partygoers were compounded by the roof caving in during the inferno as well as the stacks of furniture, art pieces, and supplies which turned into obstacles for first responders.

Oakland mayor Libby Schaaf:

Quote

Last night’s fire was an immense tragedy. I am grateful to our first responders for their efforts to deal with this deadly fire. Our focus right now is on the victims and their families and ensuring that we have a full accounting for everyone who was impacted by this tragedy. We are fully committed to sharing as much information as we can as quickly as possible.

The structure is owned by Chor N. Ng, who is also the proprietor of several other buildings in the East Bay. On November 13 Ng was cited by the city for having stacks of garbage in and around the warehouse. Most fatalities were reported to have occurred in the upstairs portion of the building where escape was hampered by unstable stairs and miscellaneous art pieces lying in the way. The building lacked any smoke detectors and sprinklers; fire extinguishers were found outside of the premises.

Retrieved from “https://en.wikinews.org/w/index.php?title=Oakland,_California_record_release_party_catches_fire&oldid=4269168”
Leave a comment

How Is Your Plumbing In Palm Springs, Ca?

byadmin

Are your water pipes and hot water heater in working order? You can tell that you may have a possible problem by inspecting your system for leaks. Leaks are tell-tale clues that something may be wrong with the transmission of your water supply.

Avoid Major Expenses and Extensive Repairs

So, to avoid any real issues, ensure that your plumbing in Palm Springs, CA is regularly inspected. By making this a habit, you can avoid major flooding problems or leaking difficulties. By capturing a moisture problem or leaky condition early, you can offset major expenses and extensive repairs.

Where Leaks May Appear

When you call out a plumbing specialist, it is best to do so before a leak occurs. For example, you may have some leak problems if you notice water pooling around your hot water heater or toilet. Also, if you notice condensation on your pipes, some fractures may have surfaced that are beyond your notice.

Inspecting for Clogs

Besides leaks, plumbing professionals can also investigate the inside of pipes for obstructions or clogs. They can do this today by using a video camera that surveys the inside of a pipe. So, whether you have a leak or a clog, you can count on modern innovations to save the day.

Do You Hear Hissing?

In order to look for leaks, first check the pressure relief valve on the hot water tank. Sometimes the valve is directly plumbed into the drain and may have sprung a leak without your knowledge. If you cannot remove the drain pipe in order to find a leak, listen carefully. If it is hissing, you may have a problem.

Contact a Plumber

You also want to listen closely when locating leaks in toilets. Remove the top of the toilet’s tank. If you hear a hissing sound, then you need to call a plumber immediately. You also want to check the line that runs from the meter to the house or make it simple on yourself and, again, call a plumber.

To schedule an inspection, contact plumbers such as those represented on the Preferredplumbingac.com website. Fill out a form online or give them a call as soon as possible. The sooner you have an inspection made, the better it will be for your overall peace of mind.

Posted in Pipes | Leave a comment

Obama surprises ‘brother’ Joe Biden with Presidential Medal of Freedom

Friday, January 13, 2017

Yesterday afternoon United States President Barack Obama surprised his two-term vice president Joe Biden in the White House State Dining Room with the country’s highest civilian honor, the Presidential Medal of Freedom with distinction.

In a ceremony described by the press as highly emotional, Obama cited his choice of Biden as a running mate as one of the best of his career and described their few arguments as the sort that brothers would have and Biden himself as “a lion of American history.”

This made only the fourth time in U.S. history that this modified form, the Medal of Freedom with distinction, has been awarded. Biden joined Pope John Paul II, then-former President Ronald Reagan, and former General and Secretary of State Colin Powell.

Early during the ceremony, Obama noted comically “this also gives the Internet one last chance to talk about our ‘bromance.'” The hashtag “#BROTUS,” a play on the acronym for President of the United States (POTUS), was a common sight on Twitter in 2016.

Retrieved from “https://en.wikinews.org/w/index.php?title=Obama_surprises_%27brother%27_Joe_Biden_with_Presidential_Medal_of_Freedom&oldid=4280906”
Leave a comment

United States: Two killed, more than a hundred injured in Amtrak train collision in South Carolina

Wednesday, February 7, 2018

Early on Sunday morning, Amtrak’s passenger train number 91, the Silver Star, bound for Miami from New York, slammed into a stationary CSX freight train in Cayce, about ten miles (16 km) south of Columbia, capital of the US state of South Carolina. Two Amtrak employees were killed and at least 116 were injured, some seriously.

The two killed were 54-year-old engineer Michael Kempf of Savannah, Georgia, and 36-year-old conductor Michael Cella of Orange Park, Florida. Robert Sumwalt, chairman of the National Transportation Safety Board, told a press conference the passenger train had been diverted into a siding by a switch left “literally locked, with a padlock” in that position.

The collision happened at about 2:35 am local time (0735 UTC) at a switching yard in the small city of Cayce. The Amtrak train, with reportedly 139 passengers and eight employees aboard, collided head on with the freight train, which was parked with no one on board. The Amtrak locomotive and the leading locomotive on the freight train were destroyed; the Amtrak locomotive and some of its passenger cars derailed, and one of those cars was folded in half. Several freight cars were crumpled, Reuters reported. In a press conference, the state governor, Henry McMaster, said the Amtrak locomotive was “barely recognizable” and described it as “a horrible thing to see, to understand the force involved”.

Harrison Cahill, a spokesman for Lexington County, gave a count of 116 injured, up from an initial report of 70; according to Derrec Becker, public information officer for the South Carolina Emergency Management Division, injuries ranged “from cuts and bruises to severe broken bones”. On Monday a Palmetto Health spokesperson said two patients were in serious and two in critical condition at their facilities. A spill of approximately 5,000 gallons of fuel from the freight train posed no safety hazard, according to officials.

Passenger Derek Pettaway told the CNN network that like most others, he had been sleeping when the collision happened. He said Amtrak staff cleared the passengers from the train rapidly, and there was no panic; “I think people were more in shock than anything else”, he said.

“Key to this investigation is learning why the switch was lined that way”, Sumwalt said. Amtrak’s CEO, Richard Anderson, speaking to reporters on Sunday, held CSX responsible; he stated the track in that area is operated by CSX and the signals, which CSX operates, were not working at the time of the collision and a CSX dispatcher was therefore directing the Amtrak train’s movements. Sumwalt noted an automatic monitoring and braking system called positive train control, which was not in use on the stretch of line, could have forestalled the collision.

Several fatal incidents involving Amtrak trains have occurred in the past three months. On December 18, the inaugural train on a new route in Washington state derailed at high speed while crossing above a highway, killing three; on January 31, the driver of a garbage truck was killed in Virginia when he collided with an Amtrak train chartered to take Republican lawmakers to a retreat.

Retrieved from “https://en.wikinews.org/w/index.php?title=United_States:_Two_killed,_more_than_a_hundred_injured_in_Amtrak_train_collision_in_South_Carolina&oldid=4383226”
Leave a comment

History Of Reusable Grocery Bags

Reusable shopping bags, including PP woven and non woven bags as well as various other organic-based bags, are growing immense in reputation over the last few years. However, the actual history of these bags stems prior to 2005 or maybe even 2000, at the time the green shopping bag trend began gaining its momentum that is certainly seen around the globe today. As a matter of fact, reusable bag manufacturers began producing their shopping bags as early as 1990s. Over the years, these bags have gone through a significant improvement with regards to what materials they are manufactured with, what they cost, and their demand in society.The history of these bags actually begins in 1977 whenever expendable plastic bags started being used around the world, starting in the US. Even though the disposable bags were originally observed as the perfect replacement for paper bags, in order to save trees, it didnt take long for people to recognize that the bags caused pollution in lakes, rivers, and oceans. By early 1990s, reusable bag manufacturers were establishing businesses across the globe.At the beginning, these bags were taking a variety of forms and being made out of materials varying from cotton to nylon. By mid 1990s, though, the component known as polypropylene started acquiring the actual lead. These bags, referred to as PP shopping bags, are precisely what are used in many modern-day retail chains. The initial bag productivity type with this particular material was non woven PP shopping bags, although woven PP carry bags are used today as well. The reason this particular material took the lead in the reusable bags manufacturing marketplace is that it was cheap and could be produced for under $0.25 USD per bag yet extremely durable. Historically, consumers have been comfortable paying up to $0.99 to $2.99 per bag in USD.Productivity accelerated beginning in 1999. According to the United States International Trade Commission Import Database, nearly 3 billion bags have been imported into the US since 1999. Numbers are high as well in countries including the United Kingdom, Ireland, Australia, and Newzealand. However, we can easily expect that the numbers will continue to rise – not just in those countries but worldwide. In addition to the environmental trend is increasing use of green shopping bags, and we are also seeing a trend within legislation.Cities or states in the US, Mexico, the UK, Australia, and more have lately passed legislation supporting the utilization of reusable shopping bags. While some have gone as far as banning throw-away shopping bags, other countries have increased an excise tax on the expendable bags while subsidizing ecological grocery bags. These laws have shown quite successful in improving the use of PP shopping bags as well as many other materials of eco friendly bags.These days, the bags are not only a legal and environment trend, but also a fashion movement. Reusable shopping bags manufacturers are introducing a number of customizations that allow people to display their personality with their bags. While the years continue, it is estimated that the upward trend in reusable shopping bags use will stay strong.

Posted in Clothing Store | Leave a comment