Economics and Investing: - SurvivalBlog.com

Debasement of 5 Pence and 10 Pence coins in England is causing problems: New coins won't work in parking meters and vending machines. (Thanks to G.G. for the link.)

B.B. sent this charming news: Treasury dips into pension funds to avoid debt: "The Treasury on Tuesday started dipping into federal pension funds in order to give the Obama administration more credit to pay government bills."

China Brings US Treasury Holdings To One Year Low, Russia Cuts Treasury Exposure By 50% In One Year. (Thanks to S.M. for the link.)

Craig D. flagged this: World Bank warns on risk of global recession

Items from The Economatrix:

Europe Must Move Quickly After Downgrades--Merkel

S&P Downgrades Eurozone's EFSF Bailout Fund

How to Prepare for the Difficult Years Ahead

Oil Pries Waver On Concerns About Global Demand

Source: http://www.survivalblog.com/2012/01/economics_and_investing_1058.html

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Terrorist killed UK soldiers as they collected pizza

An Irish Republican Army dissident was convicted Friday for the 2009 murders of two unarmed British soldiers ? the first such killings in Northern Ireland for more than a decade ? but a second suspect was acquitted.

The judge sentenced Brian Shivers, 46, to life in prison after concluding he was one of two masked gunmen who riddled off-duty soldiers with more than 60 bullets as they collected pizzas outside an army base. Two soldiers died while four other men, including two delivery men, were wounded.

But Justice Anthony Hart said DNA evidence linking Colin Duffy, 44, to the attackers' getaway car was inadequate to prove he was the other gunman or involved in planning the attack.

Duffy, a reputed senior IRA dissident who has been at the focus of several previous failed police investigations, was expected to walk free from Antrim Crown Court west of Belfast.

The two soldiers slain, 21-year-old Patrick Azimkar and 23-year-old Mark Quinsey, were shot repeatedly at close range as they lay wounded on the ground outside the Massereene army barracks near Antrim. They and friends had gone to the gate to collect pizzas just hours before their scheduled deployment to Afghanistan.

Detectives appeared to catch a critical break when the attackers' escape vehicle was recovered intact. Throughout their decades of violence aimed at forcing Northern Ireland out of the United Kingdom, members of the IRA and its dissident offshoots almost always burn their vehicles and clothes after shootings to destroy forensic evidence ? but this time, the fire set in the car had quickly petered out.

During the six-week trial, forensics specialists testified they found DNA traces of both Duffy and Shivers in the car.

Duffy's DNA was detected on a buckle of a seat belt and on a rubber globe ? equipment useful for the gunmen to protect their hands from absorbing traces of gun powder, or to leave fingerprints on the car.

Shivers' DNA was found on a book of matches in the car used in the failed bid to torch it.

The judge said other evidence against Shivers, including his contradictory explanations for where he was on the night of the attack, helped to convict him.

But the judge said the DNA evidence linked Duffy only to the car, not to the attack, and witnesses offered alibis for his location on the night.

"I consider that there is insufficient evidence to satisfy me beyond reasonable doubt that whatever Duffy may have done when he wore the latex glove, or touched the seat belt buckle, meant that he was preparing the car in some way for this murderous attack. And I therefore find him not guilty," Hart said during a judgment that took nearly three hours to read.

Azimkar and Quinsey were the first soldiers to be killed in Northern Ireland since February 1997, when an IRA sniper fatally shot Lance Bombardier Stephen Restorick through the neck as he chatted to a motorist at a road checkpoint.

The BBC reported that the sister of Sapper Quinsey, Jaime Quinsey, said her family was "a little bit closer to justice" as a result of the court verdicts.

However, she told a press conference in Antrim on Friday that they were still not able to get closure and that the killings had been a "vicious and cowardly act".

The IRA called a cease-fire later that year and, in 2005, renounced violence and disarmed in support of Northern Ireland's Good Friday peace accord of 1998.

Several splinter groups continue to mount sporadic gun attacks and bombings, most recently Thursday night in Northern Ireland's second-largest city of Londonderry, when two bombs detonated near tourist and welfare offices.

The Associated Press and msnbc.com's Alastair Jamieson contributed to this report.

Source: http://www.msnbc.msn.com/id/46072821/ns/world_news-europe/

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5 things that sunk Rick Perry (Politico)

Rick Perry proved that all streaks ultimately end.

The Texas governor, who entered the 2012 GOP primary as the on-paper front-runner to become the conservative alternative to Mitt Romney, ended his campaign Thursday on a note of grace and pride that belied a debacle of a five-month candidacy. It?s the first election he has lost ? and it wasn?t pretty.

Continue Reading

Perry ends his presidential run

Pundits react: Perry drops out

Below, POLITICO?s five reasons why Perry tanked:

1) The fire in the belly wasn?t there at the start

There were many things that ailed Rick Perry. But it is every candidate?s job to get himself elected.

Quite simply, Perry was either not ready, or his heart wasn?t in it ? or both.

Perry began with a head of steam when he declared his candidacy the day of the Ames Straw Poll on Aug. 13, stepping on Michele Bachmann?s win there and sucking the media oxygen out of the room. He was all bravura and tough talk, telling Iowa crowds he wanted to get rough with Ben Bernanke and blowing kisses to Romney for the cameras.

But he had almost no second act after that. The moment he was forced to talk issues he revealed just how ill prepared he was to be a candidate. He had clearly thought little about foreign policy and his answers to questions about the topic had the feel of a student who had crammed for an exam by committing a few lines to memory. He was more at ease discussing domestic affairs but never veered far from the sort of platitudes he?d been reciting for years in Texas.

Perry?s calling card was supposed to be retail politicking, but he was never quite able to connect with Iowa voters. A powerful governor for the past decade who either stiff-armed or simply ran around his state?s press corps, Perry was unaccustomed to the 24-hour news cycle and the relentlessness of the national press corps.

Most importantly, Perry never seemed to have the fire in the belly. His wife, he?d said, told him to ?get out of your comfort zone? and run. In addition to whatever physical issues may have come from experimental back surgery he underwent shortly before kicking off his campaign, Perry ? who had ruled out running for president late last year, only to have his longtime aides tell him that all that really mattered was raising vast sums of money ? often said in speeches that he did not wake up every day with a burning desire to be president.

It showed. Given how hard it is to run, that burning desire is essential for every candidate.

Source: http://us.rd.yahoo.com/dailynews/rss/politics/*http%3A//us.rd.yahoo.com/dailynews/external/politico_rss/rss_politico_mostpop/http___www_politico_com_news_stories0112_71679_html/44236541/SIG=11mbiogi8/*http%3A//www.politico.com/news/stories/0112/71679.html

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Defying donors, trainer sold horses to slaughterhouse

By NBCPhiladelphia.com

A local horse trainer is facing felony charges after she allegedly sold as many as 120 horses to buyers for a Canadian slaughterhouse, reports the Philadelphia Inquirer?s Harrisburg Bureau.

State police say that 24-year-old Chester County-native Kelsey Lefever -- a well-known horse trainer and former Devon Horse Show competitor -- promised owners she could find good homes for their horses when they could no longer race, according to the paper.

What she really found for these horses, was a quick death, police say.

For more, visit NBCPhiladelphia.com

They say Lefever was selling the horses she was in charge of finding homes for to contractors for a Canadian slaughterhouse. There, they would be butchered and sent overseas to be sold as food, the Inquirer reports.

Lefever admits to selling as many as 120 horses, according to the paper. Rescue groups that go to a weekly auction and purchase horses that might otherwise be sold for slaughter say Lefever was making about $300 a horse from the kill buyers.

A hearing is set for the beginning of February.

Source: http://usnews.msnbc.msn.com/_news/2012/01/19/10190070-cops-trainer-sold-more-than-100-horses-to-slaughterhouse

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Video: Olympics terror drill on the Thames

Scotland Yard and the Royal marines teamed up in a show of strength against terrorists who might target the Olympics, practiced high speed drills using helicopters and boats on the River Thames.

Related Links:

http://twitter.com/nbcnightlynews

Source: http://video.msnbc.msn.com/nightly-news/46060947/

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Jets owner backs Sanchez, doesn't rule out Manning

New York Jets quarterback Mark Sanchez talks to reporters in the Jets' locker room in Florham Park, N.J., Monday, Jan. 2, 2012. The Jets are going home after a season filled with inconsistent play, some in-fighting and lost opportunities. (AP Photo/Seth Wenig)

New York Jets quarterback Mark Sanchez talks to reporters in the Jets' locker room in Florham Park, N.J., Monday, Jan. 2, 2012. The Jets are going home after a season filled with inconsistent play, some in-fighting and lost opportunities. (AP Photo/Seth Wenig)

FLORHAM PARK, N.J. (AP) ? Mark Sanchez is still the New York Jets' quarterback of the future.

Well, at least for now.

Owner Woody Johnson supported his embattled quarterback while meeting with writers who regularly cover the team Thursday for the first time since the Jets finished 8-8 and failed to make the playoffs.

But, he also wouldn't rule out the possibility of pursuing a veteran such as Peyton Manning if the Indianapolis Colts star became available.

"I'm not going to ever tell you guys what we may or may not do," Johnson said in a 30-minute far-ranging interview.

"Our job, and my job for the fans, is to take this team to the very top level, and I've said that from the beginning. And I have a lot of confidence that we can do it. So, we're going to look at everything. We're going to look at every possibility, and that's what you'd want us to do."

Johnson said "there's no such thing as 100 percent" when asked if Sanchez would definitely be the starter next season.

"Barring whatever," he said, "yes."

That "whatever" could be the status of Manning, who missed the season after a few operations on his neck.

He's still a highly unlikely possibility for Rex Ryan's Jets since he's still under contract to the Colts, is 10 years older than the 25-year-old Sanchez and would be a tough fit financially for New York.

But the fact Johnson didn't completely slam the door on the idea of Manning joining his brother Eli as quarterbacks in New York could keep the rumor mill spinning in the offseason. Johnson did sound later as though the franchise is thinking about Sanchez for the long term.

"With Mark, you have a 25-year-old quarterback that you can develop," he said. "You can have a quarterback for 10 years with a guy like this. These guys are not available everyday.

"We have a lot of confidence in Mark. We think he's our guy. We're blessed that we have a guy that we feel can climb the ladder and he can do everything. He's got the work ethic and has all the ingredients in place to be a great quarterback."

Johnson indicated that new offensive coordinator Tony Sparano taking the reins from the departed Brian Schottenheimer could help Sanchez. Sparano, hired last week, said he wanted the offense to be "explosive," but also wanted a focus on running the ball ? as the Jets did in Sanchez's first two seasons.

"My feeling is that Mark is the kind of guy that will learn from this and get better," Johnson said. "We are going to try to make the offense maybe a little bit more suitable to what Mark's development is."

He added that the blame shouldn't be placed all on Sanchez, despite his lousy finish, but agreed that he might need a backup who could help challenge him.

"He's got to have somebody breathing on his back, yeah, I think you could argue that," Johnson said.

Johnson also is "concerned but I'm confident" that the fractured relationship between Sanchez and wide receiver Santonio Holmes can be mended.

Holmes was highly critical of the offensive line during the season and clearly had some tension with his quarterback.

It all came to a head in the season finale at Miami when Holmes was benched late in the game after arguing with teammates in the huddle.

"They've won a lot of games together and one is good for the other," Johnson said. "Santonio makes the quarterback a lot better and vice versa. So they have a good reason to iron this thing out and I think they can do it."

Johnson acknowledged that he might sit down with the two, either individually or together, at some point. While he added that Holmes will definitely be back, the Jets are tied to Holmes financially after they gave him a five-year, $45 million deal last offseason ? something the owner doesn't regret.

"He may be one of the best players we've ever had here," said Johnson said, who added that he was troubled by the perception that Holmes quit on the team as the season ended.

"I have a good relationship with Santonio," Johnson said. "He's going to have a fresh start this year and I think he'll take advantage of it. He knows it's important to him, it's important to us."

Johnson also disputed LaDainian Tomlinson's claim on Showtime's "Inside The NFL" that the Jets had the worst locker room tension he has ever seen, saying the running back might have overstated things.

"I didn't feel a toxicity in the locker room," Johnson said, adding that he'll talk to Tomlinson to clarify his statements.

"I hear what LaDainian (is saying). I respect LaDainian at the highest level, but I don't think the whole locker room was toxic. I think there were clearly a few players that had conflicts. ... Would you love to have total harmony? Maybe. But maybe it's good to have a little bit of disharmony also. But they have to care about each other."

Ryan has said that he felt he never really had the pulse of the locker room, and many ? including Tomlinson ? think the coach's brash approach, along with general manager Mike Tannenbaum, set the tone for what took place. Johnson supported the aggressive style, saying it is more of a positive when building a team.

"The great thing about Rex as opposed to people not like Rex, is that he has a very healthy ego," Johnson added. "It's very healthy. He realizes that being a great coach requires admitting mistakes perhaps or changing or altering his style or management style or learning that we don't all grow up being great managers at age 40 whatever he is. Sometimes, it takes you a little longer and in most cases it does to be a good manager."

Johnson has spoken to Ryan about how the season unfolded, and believes the coach will keep improving.

"I think he realizes that he is the head coach," Johnson said. "He's a savant defensive guy, but he is a head coach. He has responsibility for the whole room and I think he will be a lot more involved and take a bit of a different management approach to that, I would suspect. Not because I told him to, but because I think he has figured this out."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/347875155d53465d95cec892aeb06419/Article_2012-01-19-Jets-Johnson%20Speaks/id-677969d030a649caa89f75dba14cc8c0

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Wagner fulfills great expectations at Sony Open (AP)

HONOLULU ? The mustache is here to stay. Johnson Wagner hopes the same can be said of his golf game.

Wagner usually doesn't start a new PGA Tour with great expectations, only this year was different. For starters, he was expecting to catch plenty of grief for the mustache he grew on a whim over Thanksgiving, and he was right.

"I probably got `Magnum P.I.' in Maui a hundred times," Wagner said. "And I had never really watched the show. So I Googled images of Tom Selleck and I took it as a compliment. Tom Selleck is a stud."

Wagner also was expecting to win early in the year, based on how hard he worked in the offseason and his unusual confidence level.

Right again.

Trailing by two shots going into the final round, Wagner played bogey-free over the final 12 holes and closed with a 3-under 67 on Sunday to win the Sony Open for only his third PGA Tour title.

The perks were immediate.

Wagner crossed off one of his goals by earning an invitation to the Masters, and this time he can enjoy it. The only other time he played Augusta National was in 2008, and he got in by winning the week before at the Houston Open.

He also gets to book a return to Hawaii next year for a two-week working vacation, starting with the Tournament of Champions at Kapalua. His other goals of getting into the top 50, getting into more majors, will take more work.

But what a start.

"I've worked very hard this offseason, and it's just really nice to see it pay off so early," Wagner said.

Six players had at least a share of the lead in the final round, yet the final few holes lacked much drama. Wagner took the lead for good with a birdie from the greenside bunker on the short par-4 10th. He didn't make any mistakes, and no one else made enough birdies in what turned out to be a winning recipe.

Harrison Frazar took the outright lead with a birdie on No. 10, but had to settle for pars the rest of the way for a 67. Charles Howell III was paired with Wagner and stayed with him until a three-putt par on the par-5 ninth. He birdied the last hole for a 69. Sean O'Hair narrowly missed a 30-foot eagle putt on the last hole and shot 67, while Carl Pettersson overcame a double bogey on his second hole with four birdies on the last six holes for a 67.

They all tied for second.

"My first top-10 as an American," said Pettersson, the Swede who became a U.S. citizen during the offseason.

Wagner got some help.

He started the final round two shots behind Jeff Maggert and Matt Every, both of whom fell apart early. Maggert made two big par putts to start his round, but he put too much pressure on himself around the greens and it finally caught up with the 47-year-old when he started missing short putts. He shot 74.

Every ended a trying week, which began with him bumbling his way through two interviews over his PGA Tour suspension stemming from his arrest on a misdemeanor marijuana charge during his rookie season.

By Saturday evening, with a share of the lead, he said that "I'm just ready to get it over with."

His chances of winning were over quickly. He made bogeys on the opening four holes by failing to get up-and-down from a bunker on No. 1, driving into the water on No. 2 and three-putting on No. 4. But even after a three-putt from 4 feet on No. 6 for double bogey, he was still in the hunt, along with so many others.

Wagner looked up at the leaderboard next to the ninth green and saw that the leaders coming back to the field, and that raised his hopes immediately. He made birdie from the bunker on the ninth, made birdie from the bunker on the next hole and then effectively put the tournament away with a 15-foot birdie putt from the fringe on No. 15, and a tee shot into the wind on the 16th that avoided trouble.

"He played fantastic, right down the stretch," Howell said, who played alongside Wagner. "He hit a really good drive up 16, which he needed to hit. And then his shot on 17 to the middle of the green to make 3 there. That was the last place I think he could have lost it. He played 18 with 5 to win. That must be a pretty good feeling, I don't know. I've heard it is."

It was the second time Howell has been runner-up in the Sony Open, and the 13th time in his career. Frazar also was a runner-up for the second time at Waialae, having lost in a playoff to Ernie Els in 2004.

Now, Wagner is hopeful of a big year.

Somewhere in the offseason, when he was working out three times a week, flying to Florida to meet with his swing coach, and jotting down notes about his attitude and his goals, he decided not to settle for mediocrity.

He was confident enough to tell family and friends to expect a win early in the season. And it was a message he shared with Johnny Harris, who runs Quail Hollow where Wagner often plays.

Before leaving for Kapalua, Wagner said he told him, "If I get into the Masters, are you going to sponsor my brother and I in a foursome down there for a couple of days?"

Those who qualify for the Masters can play the course with members before the tournament.

"He was like, `You go do it and I've got you, podner,'" Wagner said. "So I'll be going down to Augusta a few times."

And that mustache is going with him.

"Kind of made a deal with myself in December that if I was to get into the Masters, then I was going to keep the mustache for at least this year," he said. "Everybody said, `Oh, is it a November mustache? Well, it's December, time to shave it.' I said, Look, this is not a one-month mustache. This is potentially a 10-year mustache.'

"So I think it's going to be around for a while."

Source: http://us.rd.yahoo.com/dailynews/rss/sports/*http%3A//news.yahoo.com/s/ap/20120116/ap_on_sp_go_su/glf_sony_open

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