Galactic Views (48)

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SPACE WATCH

A Chance Alignment Between Galaxies
NASA – The Hubble Space Telescope shows a rare view of a pair of overlapping galaxies, called NGC 3314. The two galaxies look as if they are colliding, but they are actually separated by tens of millions of light-years, or about ten times the distance between our Milky Way and the neighboring Andromeda galaxy. The chance alignment of the two galaxies, as seen from Earth, gives a unique look at the silhouetted spiral arms in the closer face-on spiral, NGC 3314A. Image Credit: NASA, ESA, the Hubble Heritage Team (STScI/AURA)-ESA/Hubble Collaboration, and W. Keel (University of Alabama)

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Federal government models new broadband push on Chattanooga

By Ellis Smith – Calling Chattanooga “a great example,” the White House on Wednesday (June 13, 2012) announced the US Ignite program to spread ultra-fast broadband access across the country.

As part of the plan, President Barrack Obama today will sign an executive order that grants more latitude to companies that need federal approval to bury fiber-optic cable on or near government-owned land.

The Chattanooga-owned utility, EPB, built the gigabit-capable Smart Grid in partnership with the U.S. Department of Energy for about $220 million. Gigabit Internet became available for all 170,000 city residents in early 2010. more> http://tinyurl.com/7vrg4wp

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The 5 myths of the great financial meltdown

By Allan Sloan – It’s hard to believe, but it’s been five years and a day since the U.S. financial system‘s problems surfaced, and we’re still not even remotely close to being able to feel good about the economy.

There’s a long way to go before the economy, and people, recover from wounds inflicted by the financial meltdown. The value of homeowners’ equity — most Americans‘ biggest single financial asset — is down $4.7 trillion, about 41%, since June 2007, according to the Federal Reserve. The U.S. stock market has lost $1.9 trillion of value, by Wilshire Associates‘ count. Even worse, we’ve got fewer people working now — 142.3 million — than then (146.1 million), even though the working-age population has grown.

• Myth No. 1: The government should have done nothing
• Myth No. 2: The government bailed out shareholders
• Myth No. 3: The Volcker Rule will save us
• Myth No. 4: Taxpayers are off the hook for future failures
• Myth No. 5: It’s the government’s fault

We’ve had more than enough shrieking and demonizing since this mess erupted in 2007. We need common sense, like the Hoenig Rule, and markets (as opposed to a zillion regulators.) more> http://tinyurl.com/6vjdle6

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International super-rich target California real estate

By Sinead Cruise – The super-rich investors responsible for London’s prime real estate bubble are adding California to their wish lists, lured by bargains offering crisis-defying returns as an overdue churn in the United States property market finally gets under way.

It is now London and Los Angeles, not Shanghai or Moscow, that interests the cash-rich international investor,” said Simon Lyons, managing director of global property group Enstar Capital, who is making regular trips to the U.S. in search of bargains. more> http://tinyurl.com/cbr743e

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U.S. Current Account Deficit Widens

English: Cumulative Current Account Balance from 1980 till 2008. (Photo credit: Wikipedia)

By Martin Crutsinger – The deficit in the current account jumped 15.7 percent to $137.3 billion in the January-March quarter. That’s up from $118.7 billion in the final three months of last year, the Commerce Department reported Thursday.

The current account is the broadest measure of trade. It tracks the sale of merchandise and services between nations as well as investment flows.

U.S. exports of goods increased 1.6 percent to $388.5 billion. But imports rose a larger 2 percent to $583 billion. more> http://tinyurl.com/6ugd346

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