For the past 25 years, and especially since the financial crisis, the global economy has taken a disastrous wrong turn for which we are about to pay a hideous price . In one of the gravest intellectual errors since communism, many of the world’s cleverest people thought they had discovered the secret to perpetual prosperity. Forget about hard work, deferred gratification, tackling post-industrial wastelands or actually earning one’s keep by creating, building and exporting: there was an easier way. Cheered on by politicians, central banks kept interest rates low, favoured borrowers over savers, printed money with abandon and engineered an artificial boom in house prices, tech firm stocks, crypto-currencies, bond markets, art and more. This ersatz “wealth” was meant to encourage spending and investment, the tax receipts would fund a generous welfare state, low rates would allow rising government debt, and there would be no need for difficult conversations on ageing, science, tax, … [Read more...] about Liz Truss must hold her nerve as the world tips into a calamitous recession
Japanese casualties world war ii
A meteor that exploded over Russia earlier this month likely hit Earth after a long trip from beyond the orbit of Mars, scientists say. Astronomers and the public were caught off guard by the Russian fireball , which damaged thousands of buildings and wounded more than 1,000 people when it detonated over the city of Chelyabinsk on Feb. 15. But some YouTube-aided detective work suggests that the meteor's parent body belonged to the Apollo family of Earth-crossing asteroids , whose elliptical orbits take them farther than one Earth-sun distance (about 93 million miles) from our star at some point, researchers said. Jorge Zuluaga and Ignacio Ferrin of the University of Antioquia in Medellin, Colombia, reached this conclusion after analyzing several videos of the Russian meteor, especially one taken in Chelyabinsk's Revolutionary Square and another recorded in the nearby city of Korkino. [ Russian Fireball: All You Need to Know (Video) ] They also took into account the … [Read more...] about Russian meteor’s origin and size discovered
Russia's defeat in the strategic Ukrainian city of Lyman is a "significant political setback," according to the U.K.'s Ministry of Defence. Russia's loss of Lyman , Which is located in the Donetsk region and was being used as a transport and logistics hub, presented a fresh blow to Russian President Vladimir Putin as he escalated the war by annexing four regions of Ukraine. Russia's Defense Ministry confirmed that it had "retreated to more advantageous lines," Russian-state news agency RIA reported. In a daily intelligence briefing on Sunday, Britain's defense ministry said Lyman was "likely being defended by undermanned elements of Russia's Western and Central Military Districts, as well as contingents of voluntarily mobilized reservists." "The force probably experienced heavy casualties as it withdrew along the only road out of the town still in Russian hands," it added. The city is important, the report said, because it has "a key road crossing over the Siversky … [Read more...] about Putin’s Lyman defeat a major setback as undermanned forces lose city: U.K.
Italy is on the verge of electing its first woman prime minister and its first far-right leader since World War II after polls closed last night. Giorgia Meloni’s Fratelli d’Italia party – which has neo-fascist roots – had led in opinion polls and was projected to win most seats as voting closed at 11pm. She is part of a right-wing alliance with anti-migrant League leader Matteo Salvini and Silvio Berlusconi, 85, the three-time premier who heads the Forza Italia party. But if successful – and if president Sergio Mattarella invites the 45-year-old to form a government – negotiations on a coalition could take months. Close behind was ex-PM Enrico Letta and his centre-left Democratic Party. But complex electoral law rewards coalitions, and the Democrats failed to secure a similarly broad alliance. The election – called six months early after Mario Draghi’s pandemic unity government fell – comes amid tension with the EU over Covid recovery loans offered on condition … [Read more...] about Italy on brink of electing first ever female prime minister
Russia could wage war in space against the West, the head of the Armed Forces has warned. Admiral Sir Tony Radakin cautioned that Russia could “disrupt” domains away from the traditional land warfare seen in Ukraine, including both sub surface and in the skies. “It has capabilities in space,” Sir Tony said. “We saw an example of that at the tail end of last year, when Russia exploded an object in space which created immense debris. Russia has nuclear capabilities , Russia has underwater capabilities.” The Chief of the Defence Staff made the comments after President Putin was accused of sabotaging Nord Stream 1 and 2 pipelines with undersea explosions that caused four leaks and “unprecedented” damage. Although Sir Tony refused to blame Russia while an investigation into the explosions was ongoing, he warned: “Russia has the ability to disrupt in other areas in addition to what it’s doing in Ukraine, what it’s doing in energy and what it’s doing in these diplomatic and … [Read more...] about Russia could carry out attacks in space, warns British Armed Forces head Tony Radakin
Published 8 July 2019 Share close Share page Copy link About sharing A chronology of key events: 1821-1829 - Greek War of Independence from Ottoman Empire. 1832 - Prince Otto of Bavaria is chosen as the first king of independent Greece. 1863 - King Otto is deposed; Prince William of Denmark becomes king of the Hellenes. 1913 - Greece gains Epirus, Macedonia, Crete and the North Aegean Islands from the Ottomans in the First Balkan War, and then West Thrace from Bulgaria in the Second Balkan War. 1919-22 - Greco-Turkish War - Greek invasion of Asia Minor prompted by the collapse of the Ottoman Empire after World War 1 is defeated by Turkish forces. 1924 - Greeks vote for the abolition of the monarchy, country becomes republic. 1935 - Monarchy restored. 1936 - General Ioannis Metaxas appointed prime minister, establishes right-wing dictatorship. … [Read more...] about Greece profile – Timeline