US Will Collapse by 2010: Russian

Unofficial envoy fears 'crisis'

(NEWSER) - Despite global fears of a violent confrontation, South Korea launched fighter jets and fired live artillery in a military exercise close to the North Korea border. But the two-hour operation ended without incident, and Pyongyang officials promised not to retaliate, reversing earlier threats of a "deadly" response. Residents of Yeonpyeong and other "front-line" islands had been ordered to move into air-raid shelters for the operation, but many fled the island attacked last month by North Korea. More»

Spacewalks may be necessary to perform repairs

(AP) - Half of the International Space Station's cooling system has suddenly shut down, forcing the astronauts on board to power down equipment and face the likelihood of urgent spacewalking repairs. After huddling today, NASA managers gave preliminary approval for a pair of spacewalks, the first of which would take place later this week. Officials stressed that the six occupants—three Americans and three Russians—were in no danger, and that the orbiting complex was in a stable situation. More»

Russian president seems to get in subtle dig at Bush

(NEWSER) - Dmitry Medvedev just loooves Barack Obama…and wasn’t too fond of some other person who shall remain nameless. In an interview with George Stephanopolous on Good Morning America , the Russian premier said Obama is “a very comfortable partner. … The most important thing that distinguishes him from many other people—I won’t name anyone by name—he’s a thinker. He thinks when he speaks.” Stephanopolous cracked up. “You had somebody in your mind, I think,” he said. More»

Number of people moving at lowest since WWII

(NEWSER) - The recession, with its attendant falloff in home prices and job opportunities, has pared back the traditional American activity of relocation to its lowest level since World War II. A new study shows that 12% of Americans moved in the last two years, compared to 14% earlier this decade, 17% in the '90s, and 20% in the '50s and '60s. Usually footloose young people have shown the steepest dropoff. More»

How one country ducked the economic downturn

(NEWSER) - Australia has weathered the financial crisis better than any other developed country. Last week its central bank raised interest rates, indicating its primary concern is now inflation, not growth. What were the keys? Phil Dobbie of BNET explains:

• Befriending China: Australia used to export much of what it made to the US and UK, but over the last decade much of that trade has shifted to China. In fact, some economists argue that Australia didn’t need a stimulus package—Beijing’s stimulus was enough.