Despite a small rise in the stock market last week, the volatility, including a sharp drop on Thursday, still has everyone on edge. There were several reasons for this. First, the maintenance of stock prices at anything resembling their recent levels required a staggering infusion of "liquidity" (in other words, newly created money) by the world's central banks, $213.6 billion on Thursday and Friday by the European Central Bank, $62 billion by the U.S. Fed). Second, that infusion of liquidity included an unprecedented departure by the U.S. Federal Reserve. This time they actually bought CDO's (collateralized debt obligations). Usually they buy short term Federal Reserve obligations. This implies that no one else would accept these CDO's.
|Sabotaging Palestine behind closed doors: Palestinian Authority President Mahmoud Abbas meets with the Council of Ministers in the West Bank city of Ramallah, 4 July 2007|
|Leah Fortin's rooftop hive.|
|Key activities in the next few weeks will include checkouts of science instruments, radar and the communication system that will be used during and after the landing.|
|This photo from NASA, shows the underside of the Space Shuttle Endeavour 10 August 2007 from the International Space Station during a back flip and careful survey by crewmembers onboard the orbital outpost. Experts at NASA were analyzing the pictures that showed the apparent three square inch (19 square centimeter) gouge (white spot on lower left) on shuttle's heat shield. A piece of ice that struck the shuttle shortly after Wednesday's liftoff is believed to have caused the gouge near the hatch of one of the shuttle's landing gears, mission manager John Shannon said.|
|©NASA - AFP|
|©Michael Feld laboratory, MIT|
|Images of a cervical cancer cell taken using a new imaging technique developed at MIT. Figures a and b show 3D images of the cell. The green structures represent the nucleolus. The nucleus, not visible in these images, surrounds the nucleolus. The red areas are unidentified cell organelles. Figures c through h show the 2D images from which the 3D images were generated. In these images, each color represents a different range of refractive index|
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|©Suffolk Free Press|
|Stunning fluke - long-lost daughter Lisa (circled) was passing with her mother and daughter just at the moment her father, Londoner Michael Dick, posed for our picture with other daughters Samantha (right) and Shannon.|