'Nuclear bomber base' raises fears of a new Cuban crisis
The Russian military, furious at American plans to install a missile defence shield in Eastern Europe, is talking up the prospect of turning Cuba into a base for its long-range nuclear bombers.
NAB sends a bleak message to the world
NAB's decision to book an $830 million charge against $1.2 billion of US home loan exposure to carry write-downs to 90% of the original value sends an extremely gloomy message to the global banking system and the world's sharemarkets.
...The mortgages concerned are not subprime junk. In fact, they had received an AAA credit rating originally, which as Stewart said yesterday, implied a one in 10,000 chance of default.
The huge threat to the US economy
Fannie Mae and Freddie Mac: Congress backs rescue package
America's house price time bomb
"This is becoming a tsunami of voluntary defaults," Professor Roubini says.
"The losses for the financial system from people walking away could be of the order of one trillion dollars when the entire capital of the US banking system is only $1.3 trillion."
Russian Navy prioritizes construction of nuclear submarines
Britain plans to spend £3bn on new nuclear warheads
U.S. biofuel plants go bankrupt on feedstock costs
Zimbabwe runs short of paper to mint money
Zimbabwe slashes ten zeros off its currency
Sexual assault in [U.S.] military 'jaw-dropping,' lawmaker says
Iran says OPEC to consider oil rationing
Haiti: Mud cakes become staple diet as cost of food soars beyond a family's reach
China’s Guerrilla War for the Web
Fuel cell cars still 15 years away at best-study
Graph of Total Borrowings of Depository Institutions from the Federal Reserve
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Also of interest:
Photos of the Large Hadron Collider
Photos of current and future developments in Dubai
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