Space Shuttle Update (25)

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SPACE WATCH · NASA TV · STS-135: Last Space Shuttle Mission
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Launch Date: 11:26 a.m. EDT, July 8, 2011

In the White Room
NASA – At Launch Pad 39A at NASA’s Kennedy Space Center in Florida, the STS-135 crew pose for a group portrait in front of space shuttle Atlantis’ hatch in the pad’s White Room.

From left are Mission Specialist Sandy Magnus, Pilot Doug Hurley, Mission Specialist Rex Walheim and Commander Chris Ferguson. An access arm supports the White Room that is in place against the shuttle which provides entry to the crew compartment. Photo credit: NASA/Kim Shiflett

Safety Training
At Launch Pad 39A members of space shuttle Atlantis’ STS-135 crew receive instruction by the catch nets for the slidewire baskets at the base of the pad as part of the pad’s emergency exit training.

From left are Mission Specialist Rex Walheim, Commander Chris Ferguson, Pilot Doug Hurley and Mission Specialist Sandy Magnus. Photo credit: NASA/Kim Shiflett

Launch Pad Greeting
On Launch Pad 39A space shuttle Atlantis’ STS-135 crew members, Mission Specialist Rex Walheim and Pilot Doug Hurley greet the pad workers.

The astronauts are at Kennedy to participate in a launch countdown dress rehearsal called the Terminal Countdown Demonstration Test (TCDT) and related training. Photo credit: NASA/Kim Shiflett

Payload Bay Walkdown
At Launch Pad 39A space shuttle Atlantis’ STS-135 crew members take part in a payload bay walkdown to check out the cargo secured in Atlantis’ bay.

Seen here are Mission Specialist Sandy Magnus (left) and Commander Chris Ferguson. Photo credit: NASA/Kim Shiflett

Bay Airlock Inspection
At Launch Pad 39A space shuttle Atlantis’ STS-135 crew members take part in a payload bay walkdown to check out the cargo secured in Atlantis’ bay.

Seen here inspecting the airlock are Pilot Doug Hurley (left), and Mission Specialists Sandy Magnus and Rex Walheim. Photo credit: NASA/Kim Shiflett

Seaside Sunrise
The sun rises over the Atlantic Ocean silhouetting space shuttle Atlantis’ external fuel tank and solid rocket boosters on Launch Pad 39A at NASA’s Kennedy Space Center in Florida.

The STS-135 crew members will be at the pad shortly to be strapped into their respective seats on Atlantis for a simulated launch countdown as part of the Terminal Countdown Demonstration Test (TCDT) and related training. Photo credit: NASA/Jim Grossmann June 23, 2011

Shuttle Duties Completed
The massive crawler-transporter that carried space shuttle Atlantis to Launch Pad 39A at NASA’s Kennedy Space Center in Florida sits serenely on the crawlerway after its shuttle transport duties were completed. Photo credit: NASA/Jim Grossmann June 23, 2011

Policy-making gets harder in wake of global credit

By Peter Apps – “We don’t believe that it will default in the near term, but over the medium term it is a virtual certainty…it is increasingly difficult to kick the can down the road because the can is becoming heavier,” said Stuart Thomson, chief economist at Ignis Asset Management.

Having nationalised a large part of the Western world’s banking debt during the global credit crisis, governments are now struggling to solve sovereign debt crises.

“Once debt economics takes over, politics becomes a stalemate at best…and there is little anyone can do to take initiatives,” says Vanessa Rossi, senior economics fellow at London think tank Chatham House.

“You can get a moribund political system unable to move forward — see Italy for many years.” more> http://twurl.nl/3ayqx3

related>

• Are the crises under control? Or, only papered over? LinkedIn Discussion
• The Eurozone in Crisis, Christopher Alessi, Council on Foreign Relations
• Greece needs Herculean reforms to secure bailout, Angeliki Koutantou, Reuters
• Greece backs first austerity package, violence worsens, Renee Maltezou and Dina Kyriakidou, Reuters
• French banks agree to Greek debt rollover, Harry Papachristou and Emmanuel Jarry, Reuters
• Greece in deal with EU/IMF on austerity plan, Ingrid Melander and Paul Taylor, Reuters
• Quick Guide to the Greek crisis, Reuters
• PM of indebted Portugal flies economy to set example, Reuters
• EU leaders to renew battle over Greek crisis at summit, Luke Baker and Ingrid Melander, Reuters
• As Greece passes austerity measures to avoid default, Europe works with banks on deal, Howard Schneider, Washington Post
• German banks agree to help bail out Greece, AFP/Google
• Greek crisis isn’t over; German banks prepared to do more, Gary Strauss, USA TODAY
• Greek Reforms ‘Like Putting a Band-Aid on a Mortal Wound’, SPIEGEL ONLINE

Europe didn’t dodge judgment day

By Katie Benner – Sheriff Paulson called the guarantee his bazooka, and thought that investors would calm down once they knew he was packing so much heat. But Fannie and Freddie stocks and bonds continued to fall throughout the summer, and the government was forced to take over the companies and provide $200 billion in immediate financial support.

Bazookas and the risk of a systemwide castastrophe didn’t really matter to the players who were able to keep the liquidity spigots open. Lenders stopped lending almost all at once when they decided that the risks were too high. After all, no one wants to be the last guy giving out money after everyone else has fled.

Protesters in Greece are showing us that austerity plans work better on paper that in real life. Citizens aren’t embracing the idea of cutting their personal income and net worth so that it can be funneled directly to financial players who loaned to Greece. more> http://twurl.nl/lzh5py

related>

• Greece cannot borrow its way of this debt crisis, John Redwood, Telegraph
• Lessons from the Greek Debt Crisis, Eberhard Rhein, Blogactiv.eu
• GDP link in Greek debt rollover “too onerous”, Reuters [VIDEO 5:14]
• 1772 banking crisis similar to modern credit crunch, Graham Hiscott, mirror.co.uk

America’s First Zero-Packaging Grocery Store to Open in Austin

[VIDEO 2:05]
By Clara Kim – Ever feel a pang of guilt throwing away glass bottles, plastic containers, and loads of other completely reusable packaging materials? If that’s you, then the zero-waste grocery store in.gredients coming to Austin, Texas will be your new favorite store.

“Truth be told, what’s normal in the grocery business isn’t healthy for consumers or the environment,” in.gredients co-founder Christian Lane said. more> http://twurl.nl/1mu5a6

related>

• Will package-less or package-lite consumer goods become commonplace? LinkedIn Discussion

in.gradients:
The first zero-waste, package-free grocery store in the USA

Oracle Sues Google for Billions

By Peter Ferenczi – Oracle is suing Google for patent violations up to $6.1 billion, raising more questions about software patents’ role in competition and innovation.

The storm of patent litigation, especially patents on software processes rather than physical inventions, has some wondering if the patent system itself needs reform to discourage holders of overly-broad software patents from stifling innovation.

For example, Microsoft is suing Motorola for software patent infringements in its smartphones and Barnes & Noble for the same in its Nook reader. more> http://twurl.nl/4w2m6t

related>

• Google Ups Ante with 1000 Patents from IBM, Tony Bradley, PCWorld