Author: admin

  • NASA loses contact with Mars probe ‘Maven’

    NASA loses contact with Mars probe ‘Maven’

    Washington, DC [US], December 20 (ANI/WAM): The US space agency NASA has lost contact with the Mars probe “Maven”. Work is underway to re-establish contact, a NASA spokeswoman told the German news agency DPA.

    No regular data had been received for…

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  • Japan’s Yen Debasement – Robin J Brooks

    Japan’s Yen Debasement – Robin J Brooks

    The Bank of Japan hiked its policy rate this week and yet the Yen tumbled. At first glance, that might seem puzzling, but really there is no puzzle. Japan’s longer-term interest rates – which are what drive the Yen – are much too low given massive public debt. As long as that remains true, the Yen will continue its debasement cycle.

    The chart above shows real effective exchange rates across all major countries around the world. These exchange rates measure the true strength of a currency vis-à-vis its trading partners, factoring in also what inflation is doing across countries. The gray area shows the range between the strongest and weakest real effective exchange rates. The blue line is the Turkish Lira, which for many years has been the weakest currency globally. The black line is the Japanese Yen, which is now almost as weak as the Lira.

    How can the Japanese Yen be falling when the Bank of Japan (BoJ) just hiked rates? The reason is that the Yen depends on longer-term interest rates and those are much too low. Easiest way to see this is the chart above, which shows 30-year government bond yields across advanced economies on the vertical axis and gross public debt on the horizontal axis. Germany’s 30-year yield is slightly above Japan, even though its public debt is MUCH lower. The hard truth is that Japan’s yields are still being kept artificially low and – while that’s true – the Yen will continue its debasement cycle.

    As the chart above shows, the BoJ remains a substantial buyer of government debt on a gross basis, which is how yields are being prevented from rising to their true market level. Without this buying, Japan’s longer-term yields would be MUCH higher, which would push the country into a debt crisis. So, unfortunately, given how huge Japan’s debt overhang is, the choice is between a debt crisis and currency debasement.

    There is of course a third option, which is fiscal consolidation to bring down Japan’s debt. Indeed, Japan’s government is asset-rich, which is why net debt is 130 percent of GDP and far below gross debt of 240 percent. The government could sell some of its financial assets and privatize state-owned companies. But the political consensus for this does not yet exist. Yen debasement will have to get worse before that happens.

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  • Dawod, G. M., Mirza, M. N., Al-Ghamdi, K. A. & Elzahrany, R. A. Projected impacts of land use and road network changes on increasing flood hazards using a 4D GIS: A case study in Makkah metropolitan area, Saudi Arabia. Arab. J. Geosci. 7,…

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  • ‘It’s Scotland’s Shakespeare’ – why the nation loves panto

    ‘It’s Scotland’s Shakespeare’ – why the nation loves panto

    Jonathan GeddesGlasgow and west reporter

    Getty Images Stanley Baxter stands at a bus stop, dressed as a panto dame in a blue dress and large hat. He is sticking his leg out into the road comically, as a large red bus with a Strathclyde Transport sign drives by. Two other cast members stand behind him, laughing.Getty Images

    Stanley Baxter was one of the many stars to have been a panto regular in Scotland

    On a winter’s night, a man dressed in over-the-top women’s clothing takes a pratfall before a packed crowd.

    It…

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  • 7 elephants killed by train accident in India – Dawn

    1. 7 elephants killed by train accident in India  Dawn
    2. Passenger Train in India Hits Elephant Herd, Killing Seven  The New York Times
    3. “Crime against wildlife”: TMC MP Sukhendu Roy demands accountability from Railway Minister after elephant-train…

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  • Govt working to provide all facilities to exporters: PM – RADIO PAKISTAN

    1. Govt working to provide all facilities to exporters: PM  RADIO PAKISTAN
    2. PM Shehbaz directs full support for industry and trade  samaa tv
    3. Boosting exports: 10 policy priorities  The Express Tribune
    4. Bilal vows to steer country toward sustainable…

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  • The ‘survivor spirit’ keeping a Barnsley mining community alive

    The ‘survivor spirit’ keeping a Barnsley mining community alive

    Though it’s been more than 30 years since the closure of Grimethorpe Colliery in Barnsley, the spirit among the former miners remains as strong as ever.

    On a rain-sodden December afternoon, hundreds of them are meeting up at Grimethorpe Working…

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  • 130-million-year-old oceans dominated by super predators at unprecedented trophic levels, far surpassing modern marine apex species

    130-million-year-old oceans dominated by super predators at unprecedented trophic levels, far surpassing modern marine apex species

    New research suggests that today’s ocean predators pale in comparison to the hunters that ruled the seas during the Cretaceous period. Around 130 million years ago, according to a study from McGill University, marine life was organized around…

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  • India T20 World Cup 2026 squad

    India T20 World Cup 2026 squad

    In what comes as a major surprise, Shubman Gill has been left out of the Indian cricket team picked for the T20 World Cup 2026.

    The Board of Control for Cricket in India (BCCI) announced the 15-member India squad for next year’s ICC Men’s T20…

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  • Pakistan says India ‘weaponizing water’ at border – DW – 12/19/2025

    Pakistan says India ‘weaponizing water’ at border – DW – 12/19/2025

    Pakistan’s Deputy Prime Minister Ishaq Dar on Friday accused India of “weaponizing water” by manipulating the flow of water into his country.

    Dar said Pakistan’s water treaty commissioner had detected “unusual, abrupt variations” of water flow…

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