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Germany has become the first of the G7 powers to declare an official recession. After Germany and Italy officially declared recession status, it was the turn of the entire 15-nation euro zone to make a similar declaration on Friday, November 14, 2008.

Gross domestic product in the Eurozone fell by 0.2 percent for a second consecutive quarter in the third quarter, according to figures from Eurostat, satisfying the technical definition for a recession. The contraction means that two of the world's three major economies, Japan and the Europe's euro zone, are now in recession.

Germany and Italy logged third quarter declines on their gross domestic products by 0.5 percent for July to September and 0.4 percent for the second quarter. France narrowly missed joining the recession club because it had a 0.1 percent GDP growth rate in the third quarter after it had a minus 0.3 percent growth in the previous quarter.

Like the UK, the group of 15 countries has been hit hard as the crisis that started in the US banking sector feeds through into the wider economy. The worst affected has been Germany, Europe's biggest economy, where GDP fell by 0.5pc in the third quarter after a 0.4pc in the second. Italy suffered falls of the same proportion in both quarters.  read more »

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Western nations began to cede some control as countries including Brazil, India and China – which with Russia form the so-called BRIC nations – managed to guarantee a greater presence on the international stage.

All three will now join the board of the Financial Stability Forum – the global economic policy powerhouse that to date has been the bastion of the G8.

Each is likely to play a stronger role in the reform of major institutions such as the International Monetary Fund than might previously have been witnessed under the old economic order.

The final summit communiqué also gave particular reference to emerging and developing economies, urging them to undertake commitments consistent with their capacities and roles in the global economy – a clear admission of their increased importance.  read more »

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To Timbuktu by flying car: it sounds the most unlikely journey on earth; a sci-fi voyage from the pages of Jules Verne. But this is no fantasy. The car really flies. And the journey will become reality early in the new year when two explorers set off from London in a propeller-powered dune buggy heading for the Sahara.

The seed of this improbable adventure was sown four years ago when Gilo Cardozo, a paramotor manufacturer, had a eureka moment. For those not familiar with paramotors, picture a parachutist with a giant industrial fan strapped to his back, which provides forward motion and boosts lift for the parachute - or wing - during takeoff. Cardozo’s brainwave was to attach a car to the fan. “I started making a paramotor on wheels that you sit on and take off and it suddenly occurred to me, ‘Why not just have a car that does everything?’” recalls Cardozo, whose Wiltshire-based company Parajet built the paramotor that the adventurer Bear Grylls used to fly near Everest last year.

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Three red snakelike devices bobbing in the waves three miles (4.8 kilometers) off the coast of Agucadoura, Portugal, represent the first swell of what developers hope will be a rising tide of wave power projects. These big metallic sea snakes bobbing in the ever-restless waves of the North Atlantic are generating electricity for over a thousand homes on shore. The world’s most ambitious, working wave farm for generating electricity, it is part of Portugal’s national effort to become energy self-sufficient as Denmark has done since the 1970s oil crisis. Portugal is not a wealthy nation and has no coal or petroleum. So wind and water and sunshine are their favored sources of energy. Portugal is also one nation encouraging local cities to become zero emission communities.

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The United States was not the only country to name a new leader last week. In Bhutan, an insular nation of about 600,000 people located high in the Himalayas, a new king was crowned. 28-year-old Jigme Khesar Namgyel Wangchuck, an Oxford-educated bachelor, was crowned as Bhutan's fifth king - now the world's youngest reigning monarch. Bhutan also has the distinction of being the world's youngest democracy - having held parliamentary elections last March for the first time ever. The young ruler vows to maintain a stance of protection against the worst aspects of globalization, maintaining the "Gross National Happiness", a measurement of national progress that places a high value on spiritual development. Gross National Happiness is a term invented by, and proudly embraced by Bhutanese since 1972.

Above: Bhutan's fourth King Jigme Singye Wangchuck (right) crowns his son Jigme Khesar Namgyel Wangchuck as the fifth King of Bhutan, in the Throne room of the Tashichhodzong Palace during the coronation ceremony in Thimphu, Bhutan on November 6, 2008. With medieval tradition and Buddhist spirituality, a 28-year-old with an Oxford education assumed the Raven Crown of Bhutan on Thursday, to guide the world's newest democracy as it emerges into the modern world.

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Thomas Small is an accomplished cook, so it’s important for him to try new and exotic ingredients every now and then. When it came to the construction of his eco-friendly house, that’s exactly what his architects gave him. After all, crushed sunflower husks and shredded blue jeans don’t sound like typical building blocks. But in the world of green design, such ingredients are not rare. So now, Mr. Small and his wife, Joanna Brody, along with their two very young children and a pair of large French Briard dogs, share a prefabricated urban building that has become an example for others looking for creative ways to go green.

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Shocking figures about the US National Debt:

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1.
7 Oct 08 - National Debt passes $10 trillion (Huffington Post)
Bush Administration adds $4 trillion to National Debt (CBS News)

2.
The estimated population of the United States is around 305 million.
So each citizen's share of this debt is close to $35k.

3.
The (National Debt has continued to increase an average of
$3.99 billion per day since Sept. 28, 2007!

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Original Source: brillig.com

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Every year, peculiar apparitions appear on the cliffs between popular Sydney beaches Bondi and Tamarama, yet not even the gulls take fright at the annual Sculpture by the Sea exhibition - Australia's largest annual outdoor free exhibition of sculpture. This year, more than 100 sculptures from seven countries, including Japan, the US, Iceland and New Caledonia, are on display on the cliff tops or around the rocky foreshore, expecting to attract 500,000 sightseers.

For David Handley, who founded the event 12 years ago, its popularity never ceases to surprise. "I would have needed therapy if you'd told me 12 years ago how big it was going to be," he says. "You wouldn't believe how much work goes on behind the scenes, but once Sydney responded the way it did, you just can't stop."

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Diwali/Deepavali is a Sanskrit word which means path or array of lights and signifies the victory of good (light) over evil (darkness). Many legends are associated with Diwali. Today it is celebrated by Hindus, Jains, and Sikhs across the globe as the "Festival of Lights," where people light deyas (small clay pots filled with coconut oil and a cotton like string(wick)is inserted) to signify victory of good over the evil within an individual. Officially, it fell on Oct. 28 this year.

In India, a land of festivals,Diwali is celebrated with fervor and gaiety. The festival is celebrated by young and old, rich and poor, throughout the country to dispel darkness and light up their lives.

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The century-old Christian Science Monitor announced Tuesday that it will become the first nationally distributed newspaper to stop publishing a daily print edition, and focus on publishing online, succumbing to the financial pressure squeezing its industry harder than ever. The Boston-based paper is not forsaking print altogether - it will offer a weekly print version in addition to daily e-mail editions - but editors acknowledged shifting the focus to CSMonitor.com will save millions in addition to widening its audience.

The Boston-based general-interest paper, winner of seven Pulitzer Prizes, has long since established an extraordinary reputation for high-quality journalism. It was founded a century ago in 1908 by a religious visionary, Mary Baker Eddy, who "discovered" Christian Science and founded the paper in response to critical coverage of her in the New York World. She declared in the first edition that the role of the paper would be to "injure no man, but bless all mankind."

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The 14th edition of the Chocolate Fair has opened in Paris featuring 400 exhibitors and 140 chocolatiers from around the world, featuring displays and mountains of chocolate, top pastry chefs and sculptures. Visitors will be able to sample treats, creamy truffles and steaming cups of hot chocolate.

"It may be doom and gloom for everybody else, but for us all is well," said Gilles Marchal of luxury French chocolate-maker La Maison du Chocolat, speaking as the annual Paris chocolate show opened Wednesday. "Chocolate is a comfort-food," he added. "There has been no drop in sales."

The French have had a long-standing love affair with chocolate since its introduction to the country by Anne of Austria in 1615. It was presented as a wedding gift upon her marriage to Louis XIII. Anne of Austria only married him on condition that she could bring her own chocolate supplies from Spain. By the mid-1600s, the chocolate drink had gained widespread popularity in France.  read more »

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In a ritual repeated nearly every weekend for the past decade here in Colombia’s war-weary Caribbean hinterland, Luis Soriano gathered his two donkeys, Alfa and Beto, in front of his home on a recent Saturday afternoon. Sweating already under the unforgiving sun, he strapped pouches with the word “Biblioburro” painted in blue letters to the donkeys’ backs and loaded them with an eclectic cargo of books destined for people living in the small villages beyond.

“I started out with 70 books, and now I have a collection of more than 4,800,” said Mr. Soriano, 36, a primary school teacher who lives in a small house here with his wife and three children, with books piled to the ceilings. “This began as a necessity; then it became an obligation; and after that a custom,” he explained, squinting at the hills undulating into the horizon. “Now,” he said, “it is an institution.”

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Wealthy nations are reneging on commitments to help feed the world's hungry and may cite the banking crisis as a reason why they cannot do more, former U.N. Secretary-General Kofi Annan told an international conference on combating starvation. Annan's address emphasized that 10,000 children in the Third World would die from malnutrition on World Food Day alone - and this should be viewed as great a tragedy as the collapse of a bank. "The financial crisis deserves urgent attention and focus. But so does the question of hunger. Millions (this year) are liable to die. Is that any less urgent?" Annan told journalists at the Fighting Hunger conference attended by 200 foreign-aid experts from Europe, Africa and the United States.

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Charles Darwin was so surprised by Australia that he suspected it was a separate creation from the rest of the world, and that was after visiting only one of the many astonishing living laboratories of unique flora and fauna and exquisite natural beauty that can be found off the mainland.

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