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Australian government concedes the federal budget may be forced into deficit

Wednesday, November 26, 2008

Australian Prime Minister Kevin Rudd has told the House of Representatives that the federal budget may need to fall into “temporary deficit” if the global economic crisis impacts upon Australia further. The Prime Minister said it would draw upon its budget surplus to stimulate growth and jobs.

The Prime Minister said the Australian economy had changed significantly over the past few months and warned that there were hard times to come for many people. Mr Rudd said the situation will worsen before it gets any better.

Mr Rudd said that the government will go into temporary deficit and spend on infrastructure to stimulate growth if required and not to do so would be irresponsible.

“If Australian economic growth slows further because of a further deepening of the global crisis then it follows that Australian Government revenues will reduce further,” he said.

“Under those circumstances, it would be responsible to draw further from the surplus and if necessary to use a temporary deficit to begin investing in future infrastructure needs including hospitals, schools, TAFEs, universities, ports, roads, urban rail and high speed broadband.” He added, “Such action would support growth would support families and jobs and would be undertaken in the national interest.”

If the budget fell into deficit, it would be first time the federal budget has gone into deficit since 2001. Previously, the government has refused to concede the budget would go into deficit, contrary to predictions by economists.

The admission by the government follows claims on the weekend by the Prime Minister that he did not expect the budget would go into deficit “in the current circumstances.” Today Mr Rudd told parliament that the global economic crisis is accelerating.

“The world economy is deteriorating rapidly,” Mr Rudd told parliament.

“The impact of the global financial crisis … has grown from a trickle to a flood. It is now sweeping across the world from China to Chile, from Germany to Japan.”

The government slashed its budget surplus forecast earlier this month by AUD15 billion to $5.1 billion and revised down revenue for the next four years by a further $40 billion. Mr Rudd blamed part of the downgrade to falling commodity prices.

Figures recently released by the OECD predict that Australia will manage to avoid a recession this year; economic growth is predicted to be 1.7%.

Opposition leader Malcolm Turnbull used the Prime Minister’s announcement to attack the Rudd government’s economic credentials. He said any deficit would be regarded by voters to be a failure in economic management.

Mr Turnbull asserted that it is unlikely that any deficit would be temporary. “Experience and history tell us that Labor deficits are never temporary,” he told parliament. “The last Labor deficit lasted for six years. It only came to an end with the election of a coalition government.”

Mr Turnbull said the government had remained focused on inflation for longer than they should have.

“It was the only government in the developed world that was ignoring the global financial crisis…and was declaring its own war on inflation, when much darker storm clouds were on the horizon.”

The Liberal leader took aim at comments made by Finance Minister Lindsay Tanner and Prime Minister Rudd on the weekend that said the budget would not be allowed to fall into deficit.

“Forty-eight hours [later] and that has been completely abandoned,” said Turnbull.

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Hard drive technology breaks storage density record

Sunday, April 10, 2005

Hitachi Global Storage Technologies, the San Jose, California-based joint venture of Japanese storage vendor Hitachi and U.S. technology giant IBM, has set a new record for storage density at 230 gigabits per square inch (Gb/in2). The company has developed technology to implement a recording method known as perpendicular recording, which allowed the increase in density above the current ~130 Gb/in2 limit.

Techworld claims there is a race between Hitachi and Toshiba for who will get the first drives to market which use the technology. According to Hitachi, they expect, “to ship [their] first perpendicular recording product in 2005 on a 2.5-inch hard drive”. Toshiba is also planning to ship a drive in 2005 that uses perpendicular recording.

According to Techworld, Toshiba will ship an 80 GB, 1.8″ drive in 2005. Toshiba’s 1.8″ drives are used in portable electronic devices such as Apple’s iPod, which is currently available in sizes 60 GB and smaller.

While all commercially available hard drives to date use longitudinal recording, perpendicular recording has roots in research done in academic circles over 100 years ago.

Hitachi Tech has produced a Flash animation that explains the rudiments of perpendicular recording in a music-video style.

Inspired by the 1970s Schoolhouse Rock series of educational animation shorts, the flash movie features whimsical moments with data bits and disk platters that speak and sing (not possible with today’s technology), it also contains realistic details. Of no importance to the viewer, but perhaps of interest to some, the animation shows Texas Instruments’ UC5608DWP chips visible briefly in the background. While TI’s UC5608DWP 18-line SCSI terminator chips have been made obsolete by the new UCC5618, the chips are indeed designed for use in hard drives.

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Easy Tips For Maintaining Your Durham Epoxy Garage Floor Coating

byAlma Abell

A common assumption with beautiful looking epoxy flooring in a Durham garage is that it must be hard to maintain. This mistake is easy to make as these floors look like new with just a very small amount of routine care.

A closer look at just how easy it is to maintain this garage floor coating, even in a busy home garage that is used for more than just vehicle storage, shows just how this flooring option is a benefit to any property.

[youtube]http://www.youtube.com/watch?v=4Pf-ZXijEVI[/youtube]

Sweeping

As with any type of garage floor coating, keeping the surface dust and grit to a minimum is important to keep the flooring looking shiny and bright. Sweeping can be done as needed using a soft bristle broom, a dry mop or even an electric blower.

The key is to simply remove the dust to prevent buildup on the floor’s surface. The amount the garage is used has an impact on how frequently this simple task should be completed.

Washing

Washing of epoxy flooring in a garage is only done on an as-needed basis. This is often only a few times a year and mostly to remove mud brought in on car tires. Washing is easy with a hose and a typical hose nozzle. A pressure washer or even a simple mop and bucket can be used as well.

If using a cleaning solution, choose a pH neutral cleaner and do not use harsh chemicals or any type of abrasive or scrubbing products. These can dull the surface of the garage floor coating.

To minimize the need for washing, immediately spot clean any spills. Just keep some microfiber shop towels or paper towels handy in your Durham garage to easily remove any liquids, grease, oil or chemicals that may spill on the floor.

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Florida man charged with stealing Wi-Fi

Update since publication

This article mentions that Wi-Fi stands for “Wireless Fidelity”, although this is disputed.

Thursday, July 7, 2005

A Florida man is being charged with 3rd degree felony for logging into a private Wi-Fi (Wireless Fidelity) Internet access point without permission. Benjamin Smith III, 41, is set for a pre-trial hearing this month in the first case of its kind in the United States.

This kind of activity occurs frequently, but often goes undetected by the owners of these wireless access points (WAPs). Unauthorized users range from casual Web browsers, to users sending e-mails, to users involved in pornography or even illegal endeavours.

According to Richard Dinon, owner of the WAP Smith allegedly broke into, Smith was using a laptop in an automobile while parked outside Dinon’s residence.

There are many steps an owner of one of these access points can take to secure them from outside users. Dinon reportedly knew how to take these steps, but had not bothered because his “neighbors are older.”

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First Google Android phone unveiled, will be available soon

Tuesday, September 23, 2008

The first phone that runs on Google Android was unveiled today by T-Mobile. The announcement of this new handset, named the T-Mobile G1, was made in an event run by T-Mobile USA which took place today.

The event started at 14:30 UTC (10:30 local time) when Cole Brodman, the chief technology and innovation officer of T-Mobile USA, started introducing the people who were going to be present at the launch. These people were Andy Rubin, who represents Google, and Christopher Schlaffer, who is the CTO of Deutsche Telekom.

Five minutes later Schlaffer announced that Google Android will be available for Christmas 2008 on T-Mobile for customers of Deutsche Telekom. The new phone was then revealed by Cole Brodman, who described the phone as “iconic.”

Commentators, however, dismissed claims that the phone was iconic. Marguerite Reardon from CNET said that Android looks rather like the iPhone, and as a result she does not think the phone can be described as iconic. She also said that the Android device looks the Danger Hiptop device, which is also known as the T-Mobile Sidekick.

The new phone will be available free in the UK for users with contracts that cost over 40GB£ (Approximately 74 US$) per month. These planned tariffs are expected to include unlimited web access.

Android is completely open source, and was developed by Google and the Open Handset Alliance, a partnership of over thirty companies working to develop open source software for mobile phones.

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Mortgage Payment Protection Insurance Could Be Your Lifeline

By Simon Burgess

If you were to find yourself out of work after suffering from an accident, were to become ill or become unemployed then life could get extremely hard and you could be at risk of losing your home if you cannot keep up with the mortgage repayments. However, the solution to this financial nightmare is mortgage payment protection insurance.

Regardless of your circumstances your mortgage would still have to be paid and if you had checked a mortgage payment protection insurance policy against your circumstances and found it suitable, then you would not have to worry. Once you had been out of work for between 31 to 90 days depending on the provider you would receive an income which would allow you to continue repaying your mortgage. The money would be tax free and would then continue paying out each month for between 12 and 24 months depending on the provider.

[youtube]http://www.youtube.com/watch?v=0ZQibzONkeE[/youtube]

However you do have to check that a policy would be suitable and you would be eligible to claim because there are exclusions which could mean a policy would be useless in your circumstances. If you only work part time, suffer a pre-existing medical condition, are retired or self-employed then a policy would not be in your best interest. Providers can add in other exclusions so it is essential to read the small print and compare the exclusions in the policy at the same time as comparing the small print. A quality policy would have no excess and very few exclusions whilst being affordable, it should also come with the terms and conditions including the exclusions clearly explained in plain English.

An independent specialist provider will always offer the cheapest quotes for the premiums along with the best advice and all the information needed for you to be able to make an informed decision regarding the suitability of the product. Mortgage payment protection insurance can be hard to understand so it is imperative that you do choose to take the cover out with a specialist and not have it included into the cost of the mortgage at the time of taking the mortgage out. High street lenders give very little advice regarding the exclusions and terms and conditions which has accounted for the majority of mis-selling and the product earning a bad reputation.

Mortgage payment protection insurance should become more transparent in March 2008 with the introduction of comparison tables. The tables will show how much the cover will cost in total along with the exclusions in a policy and through a series of questions which the consumer answers, they will be able to determine which if any of the payment protection policies are most suitable. The cover can work the way it was designed to work but you do have to take the time to read the exclusions and determine for yourself if mortgage cover is the right choice for your circumstances. Mis-selling of policies is only done through ignorance of the product and it is no the actual policy itself that is to blame.

About the Author: Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of

mortgage payment protection insurance

, loan protection insurance and income protection insurance.

Source:

isnare.com

Permanent Link:

isnare.com/?aid=210879&ca=Finances

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India: Maharashtra plastic ban comes into force

Monday, June 25, 2018

On Saturday, the plastic ban in the Indian state of Maharashtra came into force. In an attempt to minimise pollution, the state government has introduced a ban on single-use plastics.

The leader of the Yuya Sena political party, Aaditya Thackeray, said on Twitter, “The ban on single use disposable plastic cups, plastic bags, plastic straws, plastic plates and cutlery, styrofoam cutlery and non woven bags”. He added, “these are global issues now and we have taken a step to combat it”.

Plastic pollution has led to the choking of drains, marine pollution and a risk of animals consuming plastics. This year, India’s motto for World Environment Day — June 5 — was “Beat Plastic Pollution”. People violating the plastic ban are to face a fine of 5,000 Indian Rupees (INR) for the first offence. For the second offence, the fine is INR 10,000 and the third time offence is INR 25,000 and a three-month prison term. Deputy municipal commissioner Nidhi Choudhary said, “To weed out corruption, we plan to give inspectors payment gadgets for electronic receipts of the fines”.

The Maharashtra government has given a 90-day period for manufacturers to dispose of existing polyethylene terephthalate (PET/PETE) plastic spoons and plates, while shopkeepers and citizens in general have six months to dispose of plastics. However, the ban does not prohibit plastic usage for wrapping medicines or milk cartons thicker than 50 microns.

The state government had announced the decision for the plastic ban on March 23. According to NDTV’s report, Maharashtra is the eighteenth Indian state to enforce a state-wide plastic ban. Aaditya Thackeray also said, “I congratulate the citizens for making this into a movement, even before the ban was enforceable, giving up single use disposable plastic.”

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Swedish nuclear reactors shut down over safety concerns

Saturday, August 5, 2006

 Correction — August 14, 2006 This article reports that the Forsmark Nuclear Power Plant reactor cooling systems failed. This is incorrect. Two of the four emergency diesel generators supplying power to the plant failed to start as expected, during a reactor shut down. The emergency cooling system, which functioned normally was sufficient to meet the reactor’s needs. Wikinews apologises for the error 

Three of Sweden’s ten nuclear reactors have been shut down due to safety concerns following an incident last week at the Forsmark Nuclear Power Plant, in which the reactor cooling systems failed. The reactor has since been shut down there. After the incident, the Swedish Nuclear Power Inspectorate, SKI asked all the nuclear power plants to demonstrate that the same failure could not happen in them. On Wednesday, two more reactors at Oskarshamn were shut down after the operator said their safety could not be guaranteed.

Last week’s incident at the Forsmark plant was triggered by a short circuit that cut power to the reactor cooling system. Two of the four backup generators also failed to start, but the remaining two worked and were sufficient to meet the plant’s needs. Greenpeace reports that the fault in the backup power systems were traced to new equipment installed in 1993.

The spokesman of the Swedish Nuclear Power Inspectorate Anders Bredfell denied that there was any danger of a meltdown, adding that there was also a backup gas turbine to power the cooling system in an emergency.

However, Lars-Olov Höglund, who was responsible for the nuclear plant Forsmark for many years, said the incident was the most dangerous one since Chernobyl and Three Mile island, and that a meltdown was avoided only by pure luck. His views have however been questioned as he is involved in litigation with the Swedish nuclear industry and is known as an outspoken nuclear critic. Researchers at the Royal Institute of Technology as well as the personnel at the power plant were critical of Höglunds’ view.

Speaking to BBC News, SKI spokesman Anders Bredfell said that the International Atomic Energy Agency (IAEA) was informed of the incident as required and that the incident classes as a ‘2’ in the 0-7 scale used by the IAEA to assess the severity of the incident.

Another reactor in Forsmark and a fifth at Ringhals nuclear power plant have been offline due to planned maintenance work. With five of its ten reactors down, Sweden’s power generation capacity is down by almost a fifth.

The environmental group Greenpeace called on the government to shut down all reactors and probe whether the fault was a generic one. The Green Party has called for an independent investigation of the incident. Sweden is scheduled to retire all its nuclear power plants in the next few decades, as decided by a referendum in 1980.

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U.S. ISPs to test restricting heavy Internet users

Thursday, June 5, 2008

On June 3rd, 2008, two United States Internet service providers (ISPs) announced they would begin tests to slow web access for their most active customers and charge them for extra speed. Comcast and Time Warner Cable, two of the largest ISPs in North America, both made separate announcements of their plans. The actions come in the wake of an investigation by the Federal Communications Commission (FCC), over whether Comcast had restricted some customers from sharing videos, music, and similar files. The FCC investigation led to a US Congress debate over whether and how much control ISPs should have over the flow of customer data.

Public interest groups complained in November 2007 to the FCC that Comcast had specifically targeted customers using applications that made use of the BitTorrent system, a popular form of file sharing. Free Press, an advocacy group that pushes for better oversight of cable operators such as Comcast, stated that Comcast practices were discriminatory towards users of the legal technology. “The cable companies see a hammer hovering above their heads and are scrambling to find ways to reduce the appearance of wrongdoing,” said Ben Scott, head of the group.

According to Roger Entner, a senior vice president from Nielsen IAG, as little as 5 percent of all Internet users may consume as much as 50 percent of all the bandwidth on the Internet. “This is the politically correct version of doing what Comcast had been doing before, though it takes the occasional [peer-to-peer] user off the hook,” Entner said. Sena Fitzmaurice, a Comcast spokesperson, said, “This says we won’t be looking at what type of traffic that there is, even though we still need to manage the network.”

Comcast’s tests are expected to begin in Chambersburg, Pennsylvania and Warrenton, Virginia.

While Comcast will attempt to throttle the speed of all its high-volume users, Time Warner Cable intends to use a different method. They will meter and bill clients, charging more money for faster speeds and larger amounts of transmitted data, functioning more like a traditional public utility, such as an electric company or cell phone service. Their metered billing test will begin on June 5 in Beaumont, Texas for newly enrolled customers. “Instead of raising prices across the board, consumers who are excessive users would pay,” said Alex Dudley, a Time Warner Cable spokesman. “It is clearly the fairest way to fund the investment that is going to be required to support that use.”

An Associated Press report that Time Warner Cable will bill customers between $29.95 to $54.90USD per month has been confirmed by the cable operator, with clients charged an extra $1 for each gigabyte (GB) by which they exceed their purchased plan. Art Brodsky, communications director of Public Knowledge, a consumer advocacy group in Washington D.C., has expressed concerns about the Time Warner Cable plan. Time Warner Cable’s most expensive offering, $54.90, comes with 15 megabits-per-second of data transfer speed and a 40 gigabyte limit on total data transfer.

“An HD (high-definition) movie is 8GB or so, three movies is more than half your allowance for a month, and heaven knows what else you might want to watch,” Brodsky says. “This is not a relieving congestion scheme as much as it is a rationing scheme. All it does is protect an inadequate infrastructure from the cable company.”