The average temperature of last 15 years have been highest ever recorded.

There may be at least 200 million climate refugees by 2050. You know something bad is going to happen in a horror film when someone decided to take a stroll(--) in a forest. The equivalent in finance is a bank boss insisted that his institution is solid. European Bankers have been saying things are fine for weeks now, even as their exposure to indebted euro zone countries strangles their access to funding. The amount of money parked at European central bank has risen to 15 month highs as bank holds back from lending each other. Fears of contagion from Europe have now infected America. Bank there lead S&P 500 into official bear-market territory this week, as the index briefly dipped more than 20% below a high set in April. The chief executive of one embattled bank institution ,Morgan Stanley , send a memo to employee reassuring them that the banks balance sheet was dramatically stronger than it was in 2008.

Commemorate- Poised ready to act Play down- Head off Blunt Rally Condemnation

Few U.S. Options as North Korea Readies Missile Launching

WASHINGTON With North Korea poised to launch a long-range missile despite a widespread international protest, the Obama administration is trying to play down ( off(

) the propaganda value for North Koreas leaders and head ) criticism of its abortive diplomatic
opening to Pyongyang in late February.

The White House is readying a blunt () response to a launching by North Korea, which will include, as it has warned, the suspension of a food aid agreement announced just six weeks ago, a senior official said Wednesday. The United States also plans to rally() worldwide condemnation() of the launching, which Pyongyang insists is intended to put a satellite into orbit, but which Washington says would be a breach of North Koreas international obligations.

Beyond that, however, the administrations options are limited. The United States will not seek further sanctions in the United Nations Security Council, this official said, because North Korea is already heavily sanctioned and Washington needs to preserve its political capital with China and Russia to win their backing for future measures against Syria and Iran. The more likely scenario at the United Nations is a weaker statement from the Council president.

With North Korea telling reporters that it had begun fueling the rocket, the launching appeared imminent, confronting the Obama administration with a new diplomatic crisis after an agreement that American officials had hoped would open a new chapter with a traditionally hostile and unpredictable nation.

White House officials moved aggressively to deflect criticism of that deal, which offered North Korea food aid in return for a pledge to suspend work on its uranium enrichment program and to allow international inspectors into the country.

Unlike the administration of President George W. Bush, this official said, the Obama administration did not give the North Koreans anything before they violated the agreement by announcing plans to go ahead with the satellite launching. And, he added, the administration expects the North Koreans to abide by the other terms of the deal if it hopes, as it has said, for a fuller diplomatic dialogue.

Still, for President Obama, who prided himself on not falling into the trap of previous presidents in dealing with North Korea, the diplomatic dead end has been a frustrating episode: proof that a change in leadership in Pyongyang has done nothing to change its penchant for flouting United Nations resolutions, paying no heed to its biggest patron, China, and reneging on deals with the United States.

Moreover, administration officials said they feared that the missile launching could be the first in a series of provocations, which could include the test of a nuclear bomb possibly fueled by highly enriched uranium. A nuclear test would almost certainly force the administration to go to the Security Council, they said.

North Korea should stop engaging in these types of provocative() and destabilizing actions, said a spokesman for the National Security Council, Tommy Vietor. Wed like to see nations that have close relations with North Korea consider what else they could do to send a clear signal to this new leadership that its time for them to move in a different direction.

At a nuclear summit meeting in South Korea two weeks ago, Mr. Obama leaned on Chinas president, Hu Jintao, to use his leverage to stop the launching. While administration officials said the Chinese were angry with Pyongyang and conveyed that message, it appeared to have not been enough to deter North Korea from a launching it says is intended to condemnation(Honour) the 100th anniversary of the birth of Kim Il-sung, the revered father of the country.

On Wednesday, Kims grandson, Kim Jong-un, was named to the nations top political post in a meeting of the Workers Party, tightening his grip on power during a week of events marking the anniversary. North Korea has invited dozens of foreign journalists to cover the festivities, including the satellite launching.

North Korean Rocket Said to Fail Moments After Liftoff

SEOUL, South Korea North Korea defied international warnings of censure and further isolation on Friday, launching a rocket that the United States and its allies called a provocative pretext for developing an intercontinental ballistic missile that might one day carry a nuclear warhead.

But in what was a major embarrassment to the North and its young new leader, the rocket disintegrated moments after the launching, and American and Japanese officials said its remnants fell harmlessly into the sea. After hours of silence, North Koreas state-run news media announced that the satellite the rocket had been carrying failed to enter its preset orbit. Scientists and technicians were looking into the cause of the failure, said the terse statement from the reclusive North Korea leadership, which had trumpeted the event as a showcase of patriotic pride meant to exalt the 100th anniversary of the birthday of the countrys founder, Kim Il-sung, grandfather of the new leader, Kim Jung-un. Only two days earlier, North Korea had elevated the grandson to the highest levels of state power. It was the first time the North has publicly acknowledged a long-range missile or satellite failure. Officials from Japan, South Korea and the United States, which had been monitoring for signs of the launching, condemned it as a belligerent act that endangered regional stability even though it had failed. American officials said food aid that they had planned to send to North Korea to help feed its malnourished population would be suspended.

North Korea is only further isolating itself by engaging in provocative acts, and is wasting its money on weapons and propaganda displays while the North Korean people go hungry, the White House press secretary, Jay Carney, said in a statement on Thursday evening, which was Friday morning in Asia. The United States, Mr. Carney said, remains vigilant in the face of North Korean provocations and is fully committed to the security of our allies in the region. The consequences of such a public relations fiasco were unclear for the young Mr. Kim or the elders who have surrounded and groomed him, and the conspicuous absence of a prompt explanation for what had gone awry deepened the mystery. Obviously, the rocket launch is pretty embarrassing for Kim Jung-un and North Korea, said Tate Nurkin, a director at Janes Strategic Advisory Service, in an e-mailed reaction. North Korea is all about ceremony and stature and grand, symbolic gestures. One Obama administration official suggested that the failure might speed the Norths determination to conduct a nuclear test the countrys third simply to show that it can. Test preparations are under way, satellite photographs suggest. A remaining unknown is whether a test would be designed to show off a new weapon made from highly enriched uranium, the newest fuel the North is experimenting with, rather than the plutonium bombs that it tested, with mixed success, in 2006 and 2009. In Japan, government officials said the three-stage rocket, which the North had said was carrying a communications satellite, appeared to fly for more than a minute after it was launched at 7:40 a.m. local time, then broke up at an altitude of 400,000 feet and tumbled into several pieces into international waters in the sea west of the Korean Peninsula. In Washington, the Pentagon said in a statement that the first stage of the rocket fell into the sea about 103 miles west of Seoul, and the remaining stages were assessed to have failed and no debris fell on land. It said the debris had never been a threat. The launching has been politically problematic for the Obama administration, which only weeks ago completed an agreement with the North to provide food aid in return for Pyongyangs agreement to suspend uranium enrichment and refrain from test launchings of long-range missiles. The administration had portrayed the deal as a promising if fragile advance that would allow nuclear monitors back into the country after years when the nuclear program continued unchecked.

Would you be so kind, as to give me a ride? The world spends 12 times more on military expenditure than to aid on developing countries. 5000 people dies each day because of dirty drinking water and 1 billion people have no access to safe drinking water.