7/21/05 -- London, Yuan, Bananas

Bombings in London
Again with the explosions. Thank goodness no one was killed this time.
http://www.iht.com/articles/2005/07/22/news/london.php

Unfortunately, every nation in the world is susceptible to death and there's nothing we're going to able to do to make things 100% safe, but on the home front, the least we could do is minimize the harm. The best way to do that is to not give funds in equal amounts to all states, but instead look at risk management. People have been complaining about the governmnent's foolishness over defending Colorado and California with equal amounts of cash forever, but politicians seem more interested in pork than in protection. I know Oregon would probably get less money if the system was changed, but I still think there's got to be a better division of funds.

Homeland Funding article from a year ago
http://www.cnn.com/2004/ALLPOLITICS/03/22/homesec.tm/

Recent funding editorial
http://www.nytimes.com/2005/07/14/opinion/opinionspecial/14thu1.html

China Finally Changes its Currency
I didn't think it would, but China has given in to world demands to change the yuan. Not float it, but its a step a step closer.
http://www.nytimes.com/2005/07/21/business/worldbusiness/21cnd-china.html?ei=5094&en=e12a13cb678ded22&hp=&ex=1122004800&adxnnl=1&partner=homepage&adxnnlx=1121988351-b2TuzJUKFoLKDZ9K+JpBlg

Forbes' Breakdown
http://www.forbes.com/business/2005/07/21/china-yuan-dollar-cx_pm_0721chinayuan.html

Christian Science Monitor's Analysis
http://www.csmonitor.com/2005/0526/p02s01-usfp.html

If you're not into economics, like I am, one must ask: why does it matter? What's the effect? Well, my guess is very little, in the short term. In the long term, hopefully reducing trade surplus and possibly decreasing outsourcing, that sort of thing. As long as China kept devalueing its currency, pegging it to the U.S. dollar, U.S. goods would find it difficult to compete without protectionist policies, which might have colaesced sooner or later (though I doubt it. We need China more than they need us.) It might also result in less dependence on Asian countries as they release their strangehold on our currency in their banks, something that has left the U.S. in a tricky position.

Proposed China/U.S. tarriffs article:
http://www.finfacts.com/irelandbusinessnews/publish/article_10002319.shtml

Greenspan says the effect will be minimal:
http://www.forbes.com/facesinthenews/2005/05/20/0520autofacescan07.html

China and U.S. t-bills (treasury-bills):
http://www.thestandard.com.hk/stdn/std/Markets/GG06Ag04.html

Not all people think changing China's currency will have benefits for U.S. businesses. The Globalist worries about dollar dumping, though the gradual action the Chinese government is taking will probably not have the predicted catastrophic effect.
http://www.theglobalist.com/DBWeb/StoryId.aspx?StoryId=4539

Bananas!
If you missed the all "bananas are going to go extinct" fury back in '03, you won't be getting the odd feeling of deja vu I feel upon learning that farmers are killing their ability to produce bananas. What fruit will be next?
http://allafrica.com/stories/200507061088.html

All you ever wanted to know about bananas going extinct, and then some.
http://www.snopes.com/food/warnings/bananas.asp

Ten Years Ago: July 21, 1995
The Cardinal Kung Foundation (devoted to underground Chinese Catholics) released a press release stating that 30,000 underground Catholics observed a "supernatural celestial phenomenon." Apparently, the Holy Mother appeared in the changing colors of the sun to her followers.
http://www.cardinalkungfoundation.org/press/950721.htm

Ironically enough, that day was also the day when celestial bodies moved to form a "not a total earth-water" star of David. Whatever that means.
http://www.maryshea.com/1995.html