Archives 2021

Sunday, June 26, 2005

The median house price in the United States plunged 6.5% in May to $217,000. In February of 2005, the median price of a home was $237,300.

The Economist newspaper said in its June 16th issue; “In other words, it looks like the biggest bubble in history.” by way of reference to what is happening with housing prices in the USA and much of Europe.

Japan provides an example of how a boom can turn to bust. Property prices have dropped for 14 years in a row (40% from their peak in 1991); and yet, the rise in prices in Japan during the decade before 1991 was less than the increase over the past ten years in most of today’s “housing boom” countries.

The total value of residential property rose by more than $30 trillion over the past five years in developed economies, an increase equivalent to 100% of the combined GDPs of those countries. This increase dwarfs all previous house-price booms and is greater than the global stockmarket bubble in the late 1990s. Much of the recent housing activity is being driven by speculative demand. The National Association of Realtors (NAR) reported that 23% of all American houses bought in 2004 were for investment, not for owners to live in. Another 13% were bought as second homes. NAR also found that 42% of all first-time buyers made no down-payment on their home purchase last year.

Many investors are buying solely because they think prices will keep rising, which is a warning sign of a financial bubble. In Miami, Florida, as many as half of the original buyers resell new apartments even before they are built, and properties can change hands two or three times before somebody finally moves in.

Britain’s Royal Institution of Chartered Surveyors (RICS) reported prices have been falling for ten consecutive months. Forty nine percent of their surveyors reported falling prices in May. This was the weakest report since 1992 during Britain’s previous house-price bust.

Thursday, February 12, 2009

An article in the February 12 issue of the New England Journal of Medicine reports on an unusual cause for an outbreak of low blood sugar among men in Singapore: illegal use of sexual performance enhancement drugs that were contaminated with a diabetes drug.

Between January and May 2008, 149 men and one woman between 19 and 97 (mean age 51) were admitted to five public hospitals for unexplained low blood sugar. Similar cases were reported in media reports from Hong Kong. Seven Singaporean patients remained in a coma because of prolonged sugar starvation of the brain, and four subsequently died. The diabetes drug glyburide was found in blood and/or urine samples in 85% of cases; 30% admitted having used illegal sexual performance enhancers.

The contaminated products were a counterfeit version of the drug Cialis (meant for the treatment of genuine erectile dysfunction), and three purported herbal preparation (the affected brands included Power 1 Walnut and Santi Bovine Penis Erecting Capsule). All four preparations additionally contained Viagra in varying concentrations. Two herbal products contained traces of the weight loss drug sibutramine, a compound related to amphetamines.

The drug packaging mentioned names of non-existent overseas production facilities, so the source of the contamination with the diabetes drug could not be established.

The authors underline the risks that is known to be associated with purchasing drugs from unreliable providers or from online resellers. The clandestine use of impotence drugs as sexual performance enhancers seems to have provided a good illustration of this problem. They further call for more efforts by national and international health and law enforcement agencies to curb the manufacturing, international transport and sales of untrustworthy medication.

Tuesday, June 12, 2007

North America’s largest outdoor dog festival came back to Toronto last weekend for its fifth year. It ran from the 9th of June to the 10th of June at Toronto’s historical St. Lawrence Market. A Wikinews reporter was there on Sunday to report on some of the events that happened on the last day.

The “Woofstock” dog festival attracted as many as 140,000 people with their dogs. The festival had tons of accessories, sold under tents, to buy for dogs; food, toys, designer clothes, and more. About 400 vendors and exhibitors were there to promote their products, which also gave private dog companies or groups a chance to show their new products. The local SPCA and some animal rescues were under tents answering questions from visitors. While walking, all visitors could see the CN Tower and other very tall buildings.

One of the local TV stations, Citytv, was there. They hosted a live event at the show which was broadcast on TV. People came up on the stage and asked questions regarding their dogs and the host and co-host answered them.

A man, who called himself the “Chalk Master”, drew two pictures on pavement with chalk. He did it for free but donations were welcome. One was a picture of a girl’s head beside a dog’s head, and another with a wolf.

“Hello Humans. I’ve been invited here to provide your eyeball(s), with some pretty colours. I don’t get paid as I work this weekend strictly for tips… so, if you like what you see please make a DONATION. If you don’t like it simply reach into the pocket of the person next to you and give me their money. CHALK MASTER.”

A contest called “Canada’s top dog” had its own tent with a professional photographer taking pictures of dogs behind a white screen; the winning photo is to be published on the cover of “Puppy and dog basics” magazine.

Large “Gourmet” dog bones were also served from a cart and table.

Next year’s festival is expected to be bigger and better with even more attractions.

Monday, May 23, 2011

A tornado touched down yesterday in Joplin, Missouri, causing widespread damage. At least 89 were killed.

The path of the tornado was reported to be from one half to three quarters of a mile wide. City spokeswoman Lynn Onstot estimated the path to be nearly four miles long; Jasper County emergency management director Keith Stammer put its length around six miles.

Witnesses described entire blocks of buildings destroyed. Steve Runnels of the National Weather Service said “We have reports of significant structural damage to strong buildings. Automobiles have been flipped, bark was stripped off trees.”

Among the properties damaged was a local hospital, St. John’s Regional Medical Center. Some patients were hurt, and all were evacuated to other regional hospitals. The local high school, Joplin High School, was also hit. Describing the damage, its principal, Kerry Sachetta, said “You see pictures of World War II, the devastation and all that with the bombing. That’s really what it looked like. I couldn’t even make out the side of the building.”

Joplin has a population of about 50,000.

President Barack Obama has ordered the Federal Emergency Management Agency (FEMA) to support state and local efforts in response and recovery. He issued a statement with condolences to the families of victims.

Monday, December 3, 2007

The caretaker prime minister of Belgium, Guy Verhofstadt, reappeared on the political stage today as he accepted the royal request to suggest solutions to the ongoing federal government formation talks.

Recollecting his statement to the press on June 10, 2007, when he recognised his electoral loss and the victory of his opponent Yves Leterme, he told reporters today that he “hadn’t thought nor hoped to face you once more, but the King has asked me to inform him on a short term about possible strategies to deal with the political stalemate in which we have ended up over the last few months.”

Indeed, after 177 days, the country’s political parties have still found no compromise on the roles of the French- and Dutch-language community. Two days ago, Leterme returned to King Albert II to tender his resignation as leader of the formation talks.

The incumbent PM said he would discretely contact the leaders of all democratic parties during the next few days. He said his starting point would be dual: the country needs a considerable reform of its federal status, and there are certain urgent problems that outrange the capacities of the caretaker government dealing with the ongoing affairs.

Verhofstadt called for all involved to take responsibility, in the interest of the country and its citizens.

Wednesday, July 4, 2007

With the announcement Monday of €2 million in new funding from the European Union (EU), the Republic of Djibouti’s Ministry of Agriculture hopes to provide some relief to an estimated 25,000 rural inhabitants suffering through severe drought conditions. The money, to be channeled through UNICEF for its water and sanitation program, will be used to develop new wells and improve existing ones.

UNICEF is to contribute a further €60,000, as well as technical expertise to the Ministry of Agriculture, who will carry out the bulk of the work.

“The two-year water supply project targeting rural districts is very significant since people living in 45 villages and their 40,000 heads of cattle will have access to clean drinking water,” said Joaquin Gonzalez, EU Representative in Djibouti.

At the same time, the UN aid agency World Food Program (WFP) indicated that it is working with the Ministry of Agriculture and UNICEF to gradually shift Djibouti’s reliance on emergency aid to a Food for Work program, which it hopes will assist nomadic herders in Djibouti with long-term sustainability. “What we are trying to do together with the Ministry of Agriculture and UNICEF is, for example to dig wells so that despite drought, these herders will be able to irrigate their fields,” said Simon Pluess, WFP spokesman. “And, together with the UN Food and Agriculture Organization, we will try and promote vegetable gardens.”

Djibouti has survived harsh drought conditions for the past 5 years. Groundwater is the primary source of water for drinking and irrigation, but has been difficult to exploit and is often contaminated. Almost 50 percent of people in rural Djibouti do not have ready access to properly developed source of drinking water. And, due to the ongoing drought, water availability for livestock is limited. Livestock have shown signs of distress and, subsequently, milk production is down substantially.

Nearly half of all families in Djibouti’s northwest were forced to migrate to find pasture for their livestock. As the droughts continue, the importance of properly maintained wells has become apparent. “Life is harder and harder for us. Years ago there were more rains and also more pastureland for cattle. Now it is good for us to have functioning wells so that we can keep cattle here,” said Anou Amada, farmer in the village of Andoli.

A 2006 survey indicated that only 15 percent of wells in Djibouti were equipped with a protective concrete wall to prevent contamination. Andoli’s well is one of many undergoing repair through WFP’s Food for Work project.

“WFP couldn’t do this alone, so we work with the Ministry of Agriculture and UNICEF to dig wells and the UN Food and Agriculture Organization for vegetable gardens,” said Benoit Thiry, Director, WFP in Djibouti.

When the project is completed in 2008, it will have increased Djibouti’s water pump capacity by adding 25 solar-power pumps, which would compliment the current 61 diesel-powered pumps. “The advantage of solar…is that it is much cheaper and requires less maintenance,” said Omar Habib, UNICEF communication specialist. “We want the people to participate and to appropriate these pumping stations. The government’s role in the long term should be as restricted as possible,” he added.

Wednesday, February 2, 2005

Eben Moglen, Columbia University Law Professor, will head the newSoftware Freedom Law Center (SFLC). An initial 4 million dollars has been provided by Open Source Development Labs (OSDL) to fund the project.

The law center will provide free legal service for open source projects and developers. In 2004 OSDL established a separate $10 million Linux Legal Defense Fund providing legal support for Linus Torvalds, Linux kernel creator and end user companies subjected to Linux-related litigation by the SCO Group. The new law center will not be affiliated with the OSDL.

“This is about taking care of the goose that laid the golden egg and not letting wolves come in the middle of the night and steal it away,” Moglen said during a press conference. “This is a legal firm not involved so much in litigating and defending as it will be for counseling and advising and nurturing non-profits and to prevent millions of dollars in litigation.”

Moglen will serve as chairman and director-counsel of the non-profit organization. Also on board as directors are: Lawrence Lessig, law professor at Stanford Law School; Daniel Weitzner, director of the World Wide Web Consortium‘s technology and society activities; and Diane Peters, general counsel at the OSDL. Daniel Ravicher, executive director of the Public Patent Foundation, will help manage as legal director.

Moglen, one of the world.s leading experts on copyright law as applied to software, will run the new Law Center from its headquarters in New York City. The Law Center will initially have two full-time intellectual property attorneys on staff and expects to expand to four attorneys later this year. Initial clients for the Law Center include the Free Software Foundation and the Samba Project.

Other services provided by the SFLC include: asset stewardship, to avoid intellectual property claim conflict; license review and compatibility analysis; legal consulting and lawyer training.