A very important principle in modern physics, the notion that the laws of physics are the same everywhere in the universe is under review after a series of highly sensitive experiments have found a “preferred” axis in space. This most recent paper is a completely independent way to arrive at the same conclusion, and it will likely result in some very interesting scientific debates in the near future.
It looks like a Greek default and exit from the Euro is imminent. I believe that this is the true cause of the US market’s recent plunge. A Greek default could cause the kind of cascading liquidity problems that Lehman Brother’s caused. but it is becoming increasingly difficult for the EU and especially Germany to sustain them both politically and economically.
I generally like my news posts to be bringing up something that has gotten only cursory coverage in the mainstream media but I feel deserves more often a lot more, but today I guess I agree with the mainstream.
The EU is proposing some rather dramatic sanctions for countries that are behaving in ways that are potentially damaging the blocks economy. These sanctions are essentially punishment for economic mismanagement which now seems necessary in the wake of the Greek debt crisis. However, this will also place a lot of new fuel on the fire on where the line between EU sovereignty and member state sovereignty lies. While the bureaucrats and elites of Europe seem largely in favor of continued unification the dramatic failure of the last big treaty, and the refusal of many countries to even submit new policy to a popular vote, indicates that there is already widespread dissatisfaction with the amount of power being given to unelected EU policy makers. While, this sort of policy change seems necessary for any continuation of the unified currency, it also shows that on many points the anti-Euro protesters were right. The Euro will invariably lead to further loss of sovereignty by member states. I suspect it will also not bode well for any efforts in the UK to further integrate with the EU.
Brazil’s finance minister has announced that a major currency war between the worlds major nations is already being waged. While this “race to the bottom” has already been recognized in many economic circles its move into more mainstream political discourse and the recognition of its direct impact on jobs and wages is likely accelerate the world’s road to a major trade war.
I’ve been trying to stay away from the peace process in Israel as it tends to knock me off of my more level headed perspective of the world and into a more partisan ranty one, but this article on why the most recent round of peace talks has failed is very insightful and I think well worth a read.
“The Obama approach to the Israeli-Palestinian problem has been counterproductive. Either the Palestinians have to back down from their insistence that all settlements be frozen in place or Netanyahu has to back down from his pledge that any moratorium would be temporary. Either Abbas or Netanyahu has to lose credibility, and neither man can afford to.”