The US administration and Congress are creating a $700 billion rescue package to resolve the worst financial crisis since the Great Depression. Will it stabilise the US and world economies? For an answer, remember Winston Churchill's words in 1942: "This is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."

The financial crunch that began in mid-2007 has worsened so dramatically that all politicians have agreed to a government rescue. In that sense, we have reached the end of the beginning of the current drama. But two major chapters are yet to unfold. The first relates to problems that will hamstring, and maybe doom, the rescue. The second relates to the global recession that has probably started, and will hit countries like India far harder than mere Wall Street turmoil.

Right-wing analysts sneer that the US has created the world's biggest sovereign wealth fund. This is skewed badly towards the financial sector alone. But just wait: opportunities for diversification are at hand, since the Big Three auto giants also seek rescues. And, as the recession bites, further opportunities will arise to rescue giants in retail and technology!

Politicians are uninterested in criticism that the rescue will encourage a repetition of profligacy and excessive risk-taking in the future. Right now, they want to appear as saviours, not disciplinarians. Many legislators resent being asked to sign a blank cheque for $700 billion, and want to attach all sorts of conditions. But populist pressure will probably ensure rapid legislation with minimal conditions.

Yet that will not end the saga. A thousand thorny political issues will follow. Who will decide which securities are toxic and worthy of rescue? The treasury alone? Should one authority have so much power and discretion? Will the treasury buy only mortgage securities? Or also derivatives such as credit default swaps? What about credit card defaults, which loom ahead? Or corporate bond defaults?

How many companies will be allowed to go bust before the treasury saves others by declaring a new set of instruments to be toxic? What checks and balances are needed on enormous discretionary power over $700 billion, that can make or break fortunes, and can be manipulated by old-boy networks and lobbyists?

At what price will the government buy toxic securities? Merrill Lynch sold some mortgage-backed securities at just 22 cents in the dollar. Will treasury offer more to others? If so why? In setting prices, the scope for fraud, collusion and suspicion is huge. Will vulture funds, which have already bought distressed securities for a song, be allowed to resell these at higher "rescue prices" to the treasury?

Which fund managers will be appointed to manage the huge assets taken over? Why, they will be drawn from the very financial class that has just disgraced itself! The potential conflicts of interest are vast. Maybe all these issues will be overcome. But a significant risk remains that the rescue will be hamstrung by allegations of fraud and collusion.

Much greater is the risk that the financial crisis will keep worsening. Professor Nouri-el Roubini was the first to predict massive carnage. He now estimates bad loans at $2 trillion, large enough to overwhelm the rescue package. Roubini correctly predicted the fall of the shadow financial sector - lightly-regulated financial entities that avoided the tight supervision imposed on banks, such as off-balance sheet SIVs (special investment vehicles), leveraged investment banks, and leveraged hedge funds. He now predicts that the carnage will spread to hedge funds, for whom the rescue package makes no provision.

Meanwhile risk is set to multiply in derivatives. Most at risk are credit default swaps (CDS), which insure against bond and loan default. The size of the CDS market is $62 trillion, four times the GDP of the US! After netting out offsetting transactions, the balance CDS risk is around a trillion dollars.

The future of the CDS market depends on the real economy. A major recession is now unavoidable, and this will mean more corporate and banking defaults. Some experts think at least 4,000 US banks will go bust. Recessions typically lead to a 10% default on corporate bonds. The default rate last year was only 1.8%. So a surge in defaults is coming, and CDS markets are trembling.

Despite a credit crunch starting with the bursting of the US housing bubble 13 months ago, the US and world economy have remained remarkably resilient so far. GDP growth in the US was 3.3% in the last quarter on an annualised basis. The Indian and Chinese economies have slowed, but only modestly.

What explains this resilience? Well, US monetary and fiscal policies have flooded the country - and the world - with dollars to try and stave off recession. The Fed has given financial markets unprecedented access to liquidity, and cut interest rates to just 2%. US Congress has legislated $140 billion in cheques mailed to consumers, just to increase purchasing power. The trade deficit remains high, and is paid for by issuing dollars to the world. This Niagara of dollars has kept purchasing power (and GDP) rising despite the credit crunch.

But a major recession is now unavoidable. Japan and some European countries suffered negative growth in the last quarter, and the US may already be in recession this quarter. Emerging markets are all slowing down. The credit crunch means that fresh financing of both consumers and industry is going to slow down, in the US and globally. Risk aversion in financial markets means that emerging economy companies will face problems in rolling over $111 billion of debt falling due over the next year. Several companies that had banked on cheap loans and high IPO prices now find doors closed. The problem may persist through 2009-10.

So, the greatest financial crisis since the Great Depression has a long way to go yet. And the journey may be long and painful.

Forget those cheesy pick-up lines and expensive colognes to impress a woman. The winning formula to land a hot date requires nothing but a straight look into her eyes accompanied by a light touch on her arm, according to a new study.

The study, by scientists at Aberdeen University, has found that two-thirds of women gave a nod to dance with a man who requested for a dance by resting his hand on her arm for a second or two.

And those who did not comply with the trick and kept their hands by their side while asking the same question had a success rate of only 50 percent. In fact, women also preferred to give their phone-number to a man who touched their arm as he approached them in the street.

Published in Focus Magazine, the study said that touching makes a man appear dominant, and henceforth more attractive to the opposite sex.

In fact, researcher Dr Ben Jones said that making eye contact also indicates interest in a woman, but only if it is genuine. "Smiling can make you more attractive but it is worth bearing in mind that faking a smile is quite tricky," the Telegraph quoted Jones, as saying.

And those men, who find it hard to fake a smile, are advised by Jones to take extra care of their skin, or stay amidst other women to appear more appealing.

There have been innumerable studies on finding the perfect seduction technique. Countless books, manuals (read the Kamasutra) have been dedicated to understanding what drives a man, and woman crazy. Tales of seduction, and seductresses have continued to feed the fantasies of men and women throughout history. While the world tries to master this art, here are some seduction fundamentals that are sure to send your pulses racing....

How to seduce your man:

Feel Sexy: When seducing a man, your confidence can do wonders! Spend a day pampering yourself and making yourself feel even sexier than you did before. Go to the spa; get a bikini wax or your hair done. This will help in seducing your man and make you all the more desirable.

Boost his ego: Men crave praise from women. They like to be told that they are special and great. So, Compliment them! They may not look affected by the compliment but they genuinely love it. So tell your man he is the best.

Show little, hide more: One more way in which you can drive your man crazy is by the way you dress up. You need to find a compromise between showing and hiding your womanly qualities. It's the right combination that makes the secret.

The magic of anticipation: Anticipation, excitement, and thrill can be a huge turn-on for a man. Create a strong feeling of dissatisfaction in him which can only be resolved by having you. It must never seem to be easy for him.

Kill with your eyes: The moment your man looks at you, instantly lower your eyes and put on an embarrassed smile. You can even emphasise that some moments later by looking again, this time longer and then again lower your eyes.

Use your imagination: Think of different creative and innovative ways to seduce your eye candy. Be daring and different.

Erotic Dancing: Most women love to express themselves on the dance floor. Why not learning it and doing it the right way? There are courses on this, or just go to a club, watch and learn.

Surprise him: Join him in the shower one morning when he isn't expecting you to. Offer to wash his hair and back. Just having your soapy hands on him, teasing him, will get him going.

The Secret Ingredient: He must not feel seduced. Let your man think that he seduced you, not the other way around. Give him his victory, let him be the hero. Men like that. It gives them a feeling of security.

Surrender: If you're still doing fine and the signals are good, it's time to make your move. You must surrender. Even if you initiated the seduction, he will probably have taken over the role of pursuer somewhere along the line.

How to seduce your woman:

Smile: Do you think you smile enough to lure your lady love? Well, think again! Practice your smile in the mirror-your smile will probably have to be bigger than you are used to.

Just talk to her: The thing you can do is go up to your person of interest and show you appreciate her. If you can accomplish this and overcome your shyness, you will be successful and meeting more women and seducing them.

Give her space: There are bound to be things about you that she doesn't like. So, give her time to forget about those things and fantasise about the good things you have to offer.

Speak seductively: Never start a conversation focused on work, school. Talk about exotic vacation spots, mythology, sex (sometimes), astrology, dreams, fate, and anything else pleasurable and intangible.

Emotional connection: Women are known to be highly emotional. So, try and discuss emotional topics and relate to things she is passionate about or interested in.

Turn on the charm: Turn into a charmer. Reveal yourself slowly and only when directly asked. If she's gorgeous, insinuate how bright and attractive she is. If she's not, insinuate that she is.

Non-intrusive touching: Use ambiguous physical contact. Walk close enough to her that you brush against each other often; touch her lower back when you open the car door for her. Place your hand lightly on her hand for a moment, or touching her back for a moment. Just do this a couple of times, but if she pulls away, don't do it again.

Confidence: If you are nervous when you touch a girl, it will make her very uncomfortable. Confidence is the difference between touching her and molesting her.

Empathy: Empathy is essential to seduction. Every woman is different, so need to tailor your date, your words and your actions to that specific woman. You must know what she is thinking before you can offer her the pleasure she craves.

Don't be a doormat: If you are perceived as weak, you will never get a girl.

http://timesofindia.indiatimes.com/Lifestyle/Relationships/Man-Woman/The_art_of_seduction_revealed/articleshow/msid-3152093,curpg-3.cms

By The Canadian Press

 BEIJING - In one magical 45-minute span Saturday, four Canadian athletes erased a week's worth of Olympic frustration.

 Wrestlers and rowers provided Canada with its first three medals of the Beijing Games, bringing an emphatic end to seven days of disappointments and near-misses. Carol Huynh of Hazelton, B.C., captured gold in the women's 48-kilogram wrestling event, while Tonya Verbeek of Beamsville, Ont., earned a bronze in the 55-kg competition. Dave Calder of Victoria and Scott Frandsen of Kelowna, B.C., added to the haul with a silver medal in the men's rowing pair. The medal victories came in quick succession Saturday, reigniting a Canadian team that was facing increased scrutiny from fans back home who were hungry for medals. "It wasn't really part of our thought process going in because that's just unneeded pressure," Frandsen said of breaking the country's goose-egg. "It's great to get Canada on the board." Huynh wiped away tears as O Canada was played after the medal presentation. "I was just thinking how proud I am to be Canadian," Huynh said. "And I was just thinking about the road to how I got here. It's been a long one but a good one." While Canada celebrated its first trips to the podium in Beijing, America's swimming hero added to his record haul - while a Swedish wrestler who discarded his bronze medal is being sent home. Michael Phelps entered the Olympic history books with his seventh win of the Games - this one coming by the slimmest of margins. Phelps edged Milorad Cavic of Serbia in the 100-metre butterfly in a race so close, the Serbs filed a protest and swimming's governing body had to review the tape down to the 10-thousandth of a second. The result stood, moving Phelps into a tie with Mark Spitz for most gold medals at a single Olympics. Phelps can break the mark with a win in Sunday's 4x100 medley relay, where the U.S. is considered the gold-medal favourite. Elsewhere the International Olympic Committee says Sweden's Ara Abrahamian has been kicked out of the Beijing Olympics for violating the spirit of fair play during the medal ceremony. Abrahamian walked off the medals podium and dropped the medal on the mat after taking third in the Greco-Roman 84-kilogram division Thursday. He became incensed when a disputed penalty call decided his semifinal match against Italian Andrea Minguzzi, who went on to win the gold medal. The marquee track and field event of the Games didn't disappoint. Jamaica's Usain Bolt broke the world record in the men's 100-metre final, crossing the line in 9.69 seconds. The 21-year-old, who has been sprinting for just over a year, bettered his previous mark of 9.72 set earlier this year.

http://ca.news.yahoo.com/s/capress/080816/national/oly_newspage

Planning to buy an LCD TV this festive season. However, not sure how to go about hunting, what to look for? What size, what features and at what price points. The wide range and schemes being offered by various electronics makers like Toshiba, LG, Sony, BenQ, Samsung and Panasonic only making task more difficult. Worry not, here's a readymade guide to hand hold you through the entire process. Tell you the essentials you need to keep in mind while picking up that LCD.

   As a buyer, screen size is the first thing you need to decide on. Users generally fancy large size LCDs. The general view is the bigger the LCD, the better. However, ideally one must decide the screen size depending upon the space and distance available. For a proper viewing experience, one must maintain the right distance between viewing area and television screen. This is important as a larger display when viewed from closer distance shows grainy or pixelated images. It also causes eye strain. The accepted distance for LCD displays is two to five feet for 20-27-inch displays, six to eight feet for 32-37-inch displays, 10-14 feet for 42-46-inch displays and 16 feet for 50-inch display and above. Also, LCD scores over CRT models in physical depth. Most are less than 3 inch in depth. Along with size, it is important to check viewing angle. LCD TVs have a good side-to-side view angle, with wide angle ranging from 160 degrees to 80 degrees from the center viewing spot.

  Another important thing to keep in mind while buying an LCD, is the space you have to put up your LCD television.
Since they are thin, they can be either wall or table mounted. However, wherever you place them make sure they are not near or over a microwave or a heater. As the heat may affect their life and performance. Also, make sure that you leave space for ventilation and connection access.

  Resolution or picture detail defines how finer or sharper the picture quality would be. Better the resolution, sharper the picture quality.
Average LCD TVs offer a minimum pixel resolution of 1280x720. This should be treated as the minimum pixel count one should go for.
Some large screen LCD TVs have as high pixel resolution as 1920x1080 , accompanied by obviously a high price tag. Like LG's popular Scarlet range which comes in 47 inch to 42 inch range has 1,920 x 1,080 pixel resolution while the 37 inch and 32 inch models offer 1,366 x 768 pixel resolution.

  Another factor to note is the contrast ratio. It determines the degree of variation of the whitest and darkest parts of the image.
If LCD TV has a low contrast ratio, dark images will look grey and while light images looks washed or blurred. An average contrast ratio to have in an LCD TV is 10,000:1 for 32-inch. Toshiba's new range of LCD TVs offer Higher Dynamic Contrast ratio (maximum 30,000:1 in 37-inch LCD). Samsung's latest LCD LA46A650 has a Dynamic Contrast Ratio of 50,000:1 in 46-inch. LG's Scarlet series also has a Dynamic Ratio of 50,000:1 in all models.

  In case you are a sports lover or action movie buff, Motion Response Time is a must check. Motion Response Time is the ability of an LCD TV to display fast moving objects. This is important as otherwise fast moving scenes like say a speeding car or in a tennis match scene, you may see notice a blur. It is described as fast motion blur. So, before you buy, check the specifications for Motion Response Time (ms = milliseconds). On an average, an LCD TV should have a Response Time of either 6 ms, 8ms or 12ms.

  Check for the connectors offered. If you have a home entertainment equipment, make sure that the LCD TV has all the connections necessary to hook up to your home entertainment systems. Also, your LCD TVs can work as a computer screen. So, check for connections for composite, S-video, component video and RGB SCART inputs. You may also want to connect your TV to gaming console, HD DVD or Blu-ray player.

http://infotech.indiatimes.com/quickiearticleshow/3365031.cms