Jobless Rate Stays Stuck at 9.1 Percent……..(Foxnews.com) – The nation’s unemployment rate remained stuck at 9.1 percent in September despite an uptick in hiring, as the latest labor report fueled debate in Washington over how to jump-start an economy that President Obama acknowledges has weakened since the start of the year.
Greenspan: Fear Killing US Economic Recovery…….(MoneyNews.com) – Former Federal Reserve Chairman Alan Greenspan says fear is killing the U.S. economic recovery.
“Although rising moderately this year, U.S. fixed capital investment has fallen far short of the level that history suggests should have occurred given the recent dramatic surge in corporate profitability,” Greenspan writes in the Financial Times.
Read more: Greenspan: Fear Killing US Economic Recovery
Report: Computer virus hits military drone program……(Yahoo News)–
WASHINGTON (AP) — A computer virus that captures the strokes on a keyboard has infected networks used by pilots who control U.S. Air Force drones flown on the warfront, according to a published report.
Wired magazine reported Friday that the spyware has resisted efforts to remove it from the computers in the cockpits at Creech Air Force Base in Nevada, where pilots remotely fly Predator and Reaper drones in places like Iraq and Afghanistan.
Homeland Security moves forward with “pre-crime” detection……(cnet News)–
An internal U.S. Department of Homeland Security document indicates that a controversial program designed to predict whether a person will commit a crime is already being tested on some members of the public voluntarily, CNET has learned.
If this sounds a bit like the Tom Cruise movie called “Minority Report,” or the CBS drama “Person of Interest,” it is. But where “Minority Report” author Philip K. Dick enlisted psychics to predict crimes, DHS is betting on algorithms: it’s building a “prototype screening facility” that it hopes will use factors such as ethnicity, gender, breathing, and heart rate to “detect cues indicative of mal-intent.”
Read more: http://news.cnet.com/8301-31921_3-20117058-281/homeland-security-moves-forward-with-pre-crime-detection/#ixzz1aFVX6IHy
“UK crisis to get significantly worse”…….(RT.com)–
Europe’s financial crisis seems to be spreading across the English Channel as the UK becomes the latest country to feel the pinch. Rating’s giant Moody’s has downgraded 12 of Britain’s banks, including the Royal Bank of Scotland and Lloyds TSB.
This comes after the chief of the Bank of England said on Thursday the country’s economy is at its lowest since the 1930s, if not ever. Today the Bank of England will spend another 75 billion pounds (US$116 billion) in an attempt to stimulate a struggling British economy.
Dems Want Law To Keep Obama Records Secret……(JudicialWatch.org – caught this over at The Homestead Report) –
In an obvious effort to protect President Barack Obama, a group of congressional Democrats has introduced legislation to create an official process that will allow the commander-in-chief to keep presidential records secret after he leaves office.
Ironically, Obama revoked a similar George W. Bush order in one of his first official acts as president. In 2001 Bush penned an executive order severely limiting public access to his presidential records. Shortly after swearing in, Obama killed it as part of his much-ballyhooed commitment to government transparency. At the time, the new president claimed that he was giving the American people greater access to “historic documents.”
4 generator failures hit US nuclear plant……(Daily Journal)–
Four generators that power emergency systems at nuclear plants have failed when needed since April, an unusual cluster that has attracted the attention of federal inspectors and could prompt the industry to re-examine its maintenance plans.
None of these failures has threatened the public. But the diesel generators serve the crucial function of supplying electricity to cooling systems that prevent a nuclear plant’s hot, radioactive fuel from overheating, melting and potentially releasing radiation into the environment. That worst-case scenario happened this year when the Fukushima Dai-ichi nuclear plant in Japan lost all backup power for its cooling systems after an earthquake and tsunami.
How bad can it get if the US falls into recession?……(Daily Journal)–
Are investors overreacting to the prospect of a recession?
The slightly better jobs report on Friday notwithstanding, the odds of a recession appear to be climbing, and that’s bringing back scary memories. Though stocks may look cheap thanks to record corporate profits, that was also true the last time the U.S. was heading into a downturn. Based on recent recessions, profits could fall a third if the economy crumbles.
Investors have been worried about a new recession for months. Headlines last week ratcheted up the fear.
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