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George Osborne cuts growth forecast but sticks to plan A for economy

Following a run of downbeat economic data, the chancellor acknowledged that he would have to cut his forecast of UK growth George Osborne has signalled that the government would stick to its hardline deficit reduction strategy despite being forced to revise down his growth forecasts for the economy following the slowdown of recent months. The chancellor said the coalition’s tax increases and spending restraint had been designed to allow interest rates to remain low — a clear hint that he would back a second round of money creation from the Bank of England through the quantitative easing process. Speaking at Lloyd’s of London, the chancellor said: “We warned repeatedly that the recovery would be choppy. And we set in train a plan that was comprehensive and clear in its vision, but also flexible enough to withstand shocks along the way. “A plan for fiscal responsibility to bring unsustainable government borrowing under control, so that monetary activism can allow interest rates to stay lower for longer. The plan we have set out is designed in tough times for tough times. It is the rock of stability upon which any sustainable recovery depends and we will hold to it.” Following a run of downbeat economic data, Osborne acknowledged that he would have to cut his forecast of UK growth when he delivers his autumn statement to parliament on 29 November. He said recoveries from financial crises were slower and choppier than recoveries from other types of recession. “So, while we have all had to revise down our short term expectations over recent weeks, the only people who should be fundamentally re-examining their view of the world are those who thought that this time was different.” Most City firms believe that the economy — which has grown by a total of 0.2% in the nine months to June — will grow at barely more than 1% this year, and will continue to expand sluggishly in 2012. Weak surveys for manufacturing, construction and services in the past week have increased the pressure on the Treasury and the Bank of England to provide a boost to growth. Christine Lagarde, the managing director of the International Monetary Fund and Robert Zoellick, the president of the World Bank, have both warned this week of the dangers of governments cutting deficits too aggressively, but Osborne said his strategy had ensured Britain had remained insulated from the sovereign debt crisis affecting other nations. “We had an emergency budget last summer on our own terms – not this summer on the market’s terms – unlike so many other countries. We have been ahead of the curve. We have been a safe haven in the sovereign debt storm. We have delivered record low interest rates for families, businesses and taxpayers. We are not immune from what happens on our doorstep. But we can remain masters of our own destiny.” Osborne said ministers had always understood that there could never be a return to the “business as usual” conditions that existed before the financial crisis of 2007. “This government has never thought that this time would be different,” he said. “We understood right from the beginning that the world of the boom years had changed beyond recognition. We identified the problems and the risks – an overleveraged economy, an unsustainable budget deficit and a broken model of growth.” Ed Balls, the shadow chancellor, said: “It’s time George Osborne got out of his denial and admitted that Britain now faces a growth crisis. And he should listen to the head of the IMF and one of the largest investment funds in the world who have warned that cutting too far and too fast risks economic recovery. “Without strong growth and more people in work it will be harder to get the deficit down. That’s why we urgently need leadership from the chancellor on the world stage to agree a global plan for growth and a more balanced deficit plan here in Britain.” Budget deficit Economics Economic policy George Osborne Government borrowing Financial crisis Larry Elliott guardian.co.uk

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Haltingly, Flight 93 Memorial Takes Shape

Despite family concerns that the remote Pennsylvania crash site is often overlooked, the spot where the hijacked plane came down on Sept. 11, 2001 has a surprisingly steady stream of visitors. Tracy Brown reports as the official memorial is set to open.

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Jeb Corliss, Professional Wingsuit Flyer, Soars Above Mountains (VIDEO)

We’re pretty sure this video will make you reevaluate your current career. How can you top flying? Take a look as Jeb Corliss literally soars above mountains and, and some points, comes within a few feet of the ground before leaping back up again. The key to Corliss’s flight? A special body suit first used in the 1930′s.The Wingsuit, or flying squirel suit, adds fabric between the legs and arms which allows the flyer to coast similar to a bird. Because the flyers use declining altitude to glide from point to point, each suit contains a parachute for the final landing. As far as extreme sports go, this might just beat fire surfing. If this doesn’t quench your daredevil thirst, you can take a look at another one of his flying videos here. WATCH VIDEO AT TOP

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Hot Dogs For Labor Day? Here Are The Best of the Wurst!

During Hot Dog Season, Memorial Day to Labor Day, Americans typically consume 7 billion hot dogs! Depending on the brand, many hot dogs can contain between 10 and 15 grams of fat. Then, many of us make the already fatty dog worse by placing it in a nutritionally-stripped white bun and loading on sugar, sodium and fat with condiments like ketchup, sauerkraut and cheese. Not only is the sugar, sodium and fat a concern, but nitrate, an ingredient found in many hot dogs, has been linked to serious health problems in certain doses. While hot dogs are not exactly a health professional’s favorite food, you don’t have to ditch your dog completely this Labor Day. There are hot dog companies that are now making healthier hot dogs. These companies make hot dogs with fewer than five grams total fat, fewer than 500 mg of sodium, and no nitrates — they’re also producing soy and veggie hot dogs. Finding these healthy dogs can be easy with some smart shopping and simple label reading. When you’re at the grocery store, here are important hot dog guidelines to follow: 1. Choose a hot dog, not a fat dog. You should first look at the total fat on the hot dog’s nutrition facts. If the total fat is over five grams, you might as well call that hot dog a fat dog. 2. Choose hot dogs labeled “uncured” or “no added nitrates.” look at the ingredients to see if there is nitrate in the hot dog. Nitrate may be labeled sodium nitrate, nitrite or sodium nitrites, and all of these should be avoided. 3. Go for organic hot dogs. These dogs are made from organically raised animals, not treated with antibiotics or hormones. Plus they skip the nitrites and nitrates. 4. Pick sodium-smart dogs. Look for brands with 370 mg sodium or fewer. Anything over is way too much and about one fourth of the recommended amount of sodium a child or teenager should be getting in one day. After you purchase your healthy hot dogs, don’t stop there. Buy whole-wheat buns and load the hot dogs with other lower-fat foods like fresh fruit and vegetables, such as tomatoes, peppers, onions and pico de gallo. Get creative and try these healthy hot dog topping ideas: -Wrap grilled halved hot dogs in grilled whole-wheat tortillas; top with shredded fat-free cheddar, lettuce and salsa. -Serve boiled tofu dogs on whole-wheat buns with diced avocado and cucumber, sprouts and shredded carrot. -Serve boiled hot dogs on whole-wheat buns with dill pickle and cucumber spears, sliced tomatoes, diced onion and yellow mustard. – Serve boiled hot dogs on whole-wheat buns with sauteed mushrooms and onions. Please note: The American Academy of Pediatrics state that hot dogs are the food most commonly associated with fatal choking among children. Many recommend not feeding hot dogs to children under 3. For children of all ages, cut up the hot dog to appropriate sizes and watch your child eat to ensure he or she does not choke.

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Growing Up Geek: Joseph Volpe

Welcome to Growing Up Geek , an ongoing feature where we take a look back at our youth and tell stories of growing up to be the nerds that we are. Today, we have our very own Associate Editor, Joseph Volpe . Let’s get this out of the way. I did not grow up a geek, I was a sorcerer trapped in the body of a husky little boy. Or, so I managed to convince myself for years on end, wearing my Mother’s Argentine poncho, and wielding a carved wooden staff (my wand, ahem!) and a yellow glass marble — all tokens of my extended magical abilities. Before you wonder aloud if I spent much of my time sitting alone at recess convincing bugs to transform into Popples, I will tell you now that you are wrong. I did, in fact, have plenty of company in my (failed) attempts at insect transmogrification. Esoteric interests, it would seem, are the flame to the kindred weirdo’s moth. Russia factored wildly in my youth. Aside from the Cold War themes omnipresent in every 80s film I watched obsessively, and my unrestrained glee for a country frozen in an unending winter, I had my third eye fixed squarely on its governmental research into psi phenomena. Yes, I was a seven-year old who carted around a paperback copy of Psychic Discoveries Behind the Iron Curtain and engaged any unwitting adult in my quest to harness telekinesis. To the credit of my immediate family and one slightly freaked out Grandma, my repeated mental attempts to move the crystal napkin holder were graciously humored over pancakes and eggs. My early life wasn’t all a vain attempt at unlocking my sixth sense. No, I had other loves — namely books, comics and video games, but not in the way you’d think. While most children were happily rotting themselves into contented alpha states in front of the boob tube, I was poring over fantasy novels, concocting potions and searching graphic novels for the “knowledge” that would get me out of this earthly realm. Jean Grey was somewhat of an early hero to me; the X-(Wo)Man who would later become Phoenix had the power pack combo of psychic powers I’d always wanted. Ours was a love / hate relationship that ended in bitter resentment. (She never shared her secrets!) I’d moved on from my fictitious frenemy when I unearthed a book at primary school called The Girl with the Silver Eyes about a young child with (surprise, surprise) psi abilities born from prenatal drug use. Cue me repeatedly questioning my poor Mom as to the list of medications she took while I was in utero. Any other mother would have found this alarming, but mine was only further charmed. Technology was something I took for granted back then, since its silicon circuitry lacked the magic I so desperately sought after. My father was a computer programmer and we always had a plethora of personal computers stationed around the house. One of my earliest memories is even of him bringing home the first Macintosh. I wasn’t aware then that at-home computing was a rarity for the time, nor that it was a nascent market. I’d accepted computers the way most young kids accept a new baby, or puppy. Year after year, model after model, we aged together, developing an intimate bond that just seemed natural. When AOL first swung open the dial-up gates to the World Wide Web, I was there trading insights with folks in the New Age chat rooms. It was about this time, my early teen years, that I also decided to take a serious swing at coding. I’d sit in our basement for hours on end, feet up on the desk, head buried in some dense how-to for Hypercard or C++, vainly attempting to make sense of the programming languages I couldn’t seem to master. Four months in, and I’d numbly settled into the realization that programming was not my calling. French, however, would turn out to by my bag(uette). From the age of two and continuing up until around 17, my heavily opinionated Sicilian extended family had me fingered for a career as a Pediatrician. I know, pediatrics and the supernatural aren’t what I’d call bosom buddies either, so you’ll understand the internal disconnect I had for my planned future. Thankfully, a little something known as the PlayStation and Next Generation magazine would come along and permanently derail medical school from my pre-arranged life track. Midway through a presentation I’d created to get them to purchase a still unreleased PlayStation for Christmas, I saw a look in my parents’ eyes that said, “This kid has no intention to actually play video games.” And they were right. I didn’t and never have really had an interest in defeating Bowser, rescuing Zelda or bringing down Dr. Robotnik. Mine was a pure love for the industry and its inner machinations. I pored over processors and discussions about phong shading the way most follow news of the Brangelina horde. It was clear to me then what had to be done. I’d learn Japanese, move to San Francisco and work as a video game journalist. Some of these things happened, but none in the way I’d intended. And so it went that I dove head first into foreign language study, 4.0 GPA territory and enough extra-curriculars on my booked up schedule to exhaust even the brownest of brown-nosers. Here, my friends, is the moment where fringe geek intersected with overachieving nerd and completed my ascension to the freak throne. I bought video games to collect them, read industry magazines to analyze them and lived in Japan in the hopes of reporting on them. As you can probably tell, I didn’t succeed in that goal. Oh, I became a journalist, no doubt, but the fascination with 3D gaming took a turn for the general gadget category somewhere in my Akihabara wanderings. Now, I proudly bear my geekdom badge as it’s been legitimized by a certain reputable online publication. Gone by the wayside are my dalliances with the supernatural, and my preternatural obsession with the video game industry. In their stead, I now pursue with an equally obsessive zeal research into quantum mechanics and ancient astronaut theory, swapping out The Boy Who Could Fly from my Netflix queue for What the Bleep Do We (K)now!? And don’t worry, I still carry my inner husky boy with me — except now he knows that real magic lies in the specs. Joseph Volpe is always on the Twitters doling out nuggets of pop cultural ephemera to anyone who dares follow him ( @jrvolpe ). He cannot promise to side with humanity in the face of an Anunnaki return. Growing Up Geek: Joseph Volpe originally appeared on Engadget on Tue, 06 Sep 2011 12:00:00 EDT. Please see our terms for use of feeds . Permalink

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Two police officers and 46 other people were shot in New York City over the holiday weekend, reports the New York Daily News . Many called it the worst weekend of violence in years, with three people killed, including a 56-year-old woman sitting on her porch who was hit by a…

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A gigantic saltwater crocodile as heavy as a Volkswagen Beetle has been captured by residents of a Philippine village. They plan to make the monster the star of a new local ecotourism park. The 21-foot, one-ton male was nabbed in a creek and could be the largest croc captured in…

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DNC Chair Debbie Wasserman Schultz Absolutely Doesn‘t Want to Talk About Jimmy Hoffa’s Speech No Matter How Many Times Gretchen Carlson Asks

Jimmy Hoffa may be firmly standing by his “take the sons of bitches out” call to political arms in Detroit on Monday, but not everyone wants to talk about it. “Fox & Friends” anchor Gretchen Carlson tried gamely to get DNC Chair Debbie Wasserman Schultz to address to vitriol at the Obama Labor Day event. The DNC Chair went into major avoidance mode. Again and again: Give Carlson credit for trying…CNN’s… Broadcasting platform : YouTube Source : The Blaze Discovery Date : 06/09/2011 14:53 Number of articles : 2

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Are the experts more likely to err on the high side or the low side when they predict how many jobs the economy created each month? Nate Silver of the New York Times looked at every monthly jobs report since 2000 to find out. His conclusion: “Over the past ten years, there have been 89

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Video Game Addict: Games Crowd Out Real Life

What starts out as a fun activity, can take over some lives. Some psychiatrists say video games are one of the big addictions of the decade and can cause problems for people who play them too much. Others argue it is not a recognized addiction. (Sept. 6)

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