A fossil of vomit
In a remarkable paleontological discovery, a 66-million-year-old fossilized regurgitation has been unearthed along Denmark’s Stevns Klint coastal cliff, a site renowned for its rich Cretaceous-period deposits. Local fossil hunter Peter Bennicke made this unusual find after splitting open a piece of chalk, revealing a compact mass of sea lily fragments—marine invertebrates known scientifically as crinoids. Recognizing its potential significance, Bennicke presented the specimen to the Geomuseum Faxe, where it underwent meticulous cleaning and analysis. Dutch sea lily expert John Jagt identified the remains as belonging to at least two distinct species of sea lilies, leading to the conclusion that a predator, likely a fish or a bottom-dwelling shark, consumed these organisms and subsequently regurgitated the indigestible parts. Such fossilized vomit, or regurgitalites, are rare but invaluable to scientists, offering a unique window into ancient ecosystems by revealing predator-prey interactions and dietary habits from millions of years ago. The specimen has been officially designated as Danekræ DK-1295, a title reserved for Denmark’s rare natural treasures. Jesper Milan, museum curator at Geomuseum Faxe and member of the Danish Wildlife Committee, emphasized the find’s significance, noting that sea lilies, primarily composed of calcareous plates with minimal soft tissue, are not particularly nutritious. This suggests that the predator had specialized feeding habits, possibly similar to modern relatives like the Port Jackson shark. The fossil is now on display at the Geomuseum Faxe, providing the public with a tangible connection to the intricate food webs of the Cretaceous sea.
https://news.sky.com/story/66-million-year-old-vomit-fossil-discovered-in-denmark-13298091?utm_source=chatgpt.com
https://www.theguardian.com/science/2025/jan/28/an-unusual-find-66m-year-old-animal-vomit-discovered-in-denmark?utm_source=chatgpt.com
An AI Stock Decline
On Monday, U.S. stock markets experienced a notable downturn, primarily driven by a significant sell-off in the technology sector. The S&P 500 index declined by approximately 1.5%, reflecting investor apprehension about the sustainability of the artificial intelligence (AI) boom. Billionaire investor Ray Dalio has cautioned that the current enthusiasm for AI in U.S. stocks mirrors the excesses seen during the dot-com era, suggesting that high stock valuations coupled with interest rate risks could precipitate a market correction. In response to these developments, major tech stocks experienced significant declines. Nvidia, for instance, saw its market capitalization decrease by nearly $600 billion, while other tech giants like Google and Microsoft also faced substantial losses. The AI race’s strategic economic and military implications have prompted significant government involvement and support in both the U.S. and China. In parallel, the Federal Reserve is anticipated to maintain current interest rates, with markets pricing in a 97% probability of no change, as indicated by the CME FedWatch tool. This expectation is based on the combination of already high interest rates leading to increased borrowing costs and the intent to monitor further data on inflation and the labor market. Additionally, U.S. new home sales for December rose by 3.6% to a seasonally adjusted annual rate of 698,000 units, surpassing consensus estimates and indicating resilience in the housing market. As the market continues to digest these developments, investors remain cautious, balancing optimism in technological advancements with concerns over market stability and economic policy.
US halt to federal loans
In a sweeping move that has sent ripples through various sectors, the White House has issued a directive to temporarily halt all federal grants and loans, a decision that could affect billions of dollars in funding. This pause is intended to allow the new administration to review existing government programs and ensure that financial assistance aligns with President Trump’s policy priorities. An internal memorandum from the Office of Management and Budget (OMB), led by Acting Director Matthew J. Vaeth, outlined the scope of this freeze, emphasizing a focus on limiting expenditures related to foreign aid, non-governmental organizations, diversity, equity, and inclusion (DEI) initiatives, gender-related ideologies, and environmental programs associated with the “Green New Deal.” While essential services such as Social Security, Medicare, and food assistance programs remain unaffected, the suspension could have significant implications for healthcare research, education, infrastructure projects, and international aid efforts. Notably, the freeze encompasses funds allocated under the Inflation Reduction Act and the Infrastructure Investment and Jobs Act, potentially stalling projects aimed at clean energy development, prescription drug pricing reforms, and critical infrastructure improvements. The decision has sparked a legal and political backlash, with critics arguing that the executive branch lacks the authority to withhold funds appropriated by Congress, labeling the move as an illegal impoundment. Democratic leaders, including New York Attorney General Letitia James, have announced plans to seek court injunctions to challenge the freeze, citing concerns over disruptions to essential services such as childcare, cancer research, housing, and disaster relief. The administration’s actions have also raised concerns about the balance of power between the legislative and executive branches, with some Republicans expressing unease over the potential overreach. As the situation unfolds, the nation is bracing for significant legal battles that could reshape the dynamics of federal funding and governance.
https://www.theatlantic.com/politics/archive/2025/01/trump-executive-order-spending-congress/681484/
https://apnews.com/article/f9948b9996c0ca971f0065fac85737ce
US income tax
Former President Donald Trump has proposed a transformative shift in U.S. tax policy, suggesting the replacement of federal income taxes with a tariff-based system. This proposal includes imposing tariffs ranging from 10% to 60% on imports, with a particular emphasis on higher tariffs for goods from China. Trump has suggested that these tariffs could generate sufficient revenue to potentially eliminate income taxes, harking back to the 1890s when tariffs were a primary source of federal revenue. However, economic analyses cast doubt on the feasibility of this approach. In Fiscal Year 2023, the federal government collected approximately $2.2 trillion from individual income taxes, accounting for half of all government revenue. To replace this revenue solely through tariffs, a rate of about 58% on all imports would be necessary, assuming import levels remain constant. Such high tariffs could lead to increased consumer prices, as importers typically pass these costs onto consumers, disproportionately affecting lower and middle-income households. Additionally, the potential for retaliatory tariffs from trade partners could harm U.S. exports and lead to job losses in affected industries. Politically, the proposal faces skepticism from both parties in Congress, with concerns about economic disruption and the regressive nature of tariffs. Implementing such a significant policy shift would require legislative approval and a comprehensive restructuring of the current tax system, making it a complex and contentious endeavor.
https://www.ntu.org/publications/detail/replacing-the-income-tax-with-tariffs-is-a-fantasy
Puzzling fossils
Over the past several decades, paleoanthropologists have unearthed a series of enigmatic hominin fossils across various sites in China, including Xujiayao, Xuchang, and Xiahe. These remains, dating between 300,000 and 100,000 years ago, encompass skull fragments, teeth, jaws, and other skeletal elements that exhibit a blend of archaic and modern features, making their classification within the human lineage particularly challenging. In a recent study published in Nature Communications, researchers Christopher Bae from the University of Hawaii at Manoa and Wu Xiujie from the Institute of Vertebrate Paleontology and Paleoanthropology in Beijing have proposed the designation of a new hominin species, Homo juluensis, to account for these distinctive fossils. The name derives from the Chinese term “ju lu,” meaning “huge head,” reflecting the species’ notably large cranial capacity, which surpasses that of modern humans. The study suggests that Homo juluensis inhabited eastern Asia approximately 300,000 years ago, engaging in activities such as hunting wild horses in small groups, crafting stone tools, and possibly processing animal hides to endure harsh winter climates. This proposition aims to clarify the complex mosaic of hominin evolution in eastern Asia during the Late Quaternary period, highlighting a greater diversity of human species coexisting than previously recognized. However, the introduction of Homo juluensis has sparked debate within the scientific community, with some experts urging caution due to the fragmentary nature of the fossil record and the need for more comprehensive genetic analyses to confirm the distinctiveness of this proposed species. As research progresses, this discovery holds the potential to significantly reshape our understanding of human evolution, particularly concerning the diversity and adaptability of hominins in prehistoric Asia.
https://www.nature.com/articles/s41467-024-53918-7
Cardiff University cuts jobs
Cardiff University has announced a significant restructuring plan to address a substantial funding shortfall, which includes the reduction of 400 full-time academic positions—representing approximately 7% of its workforce—and the potential closure of several degree programs. The affected disciplines include ancient history, modern languages and translation, music, nursing, and religion and theology. Vice-Chancellor Professor Wendy Larner emphasized that these difficult decisions are necessary to ensure the university’s financial sustainability amid declining international student numbers and escalating operational costs. The University and College Union (UCU) has condemned the proposed cuts as “brutal and unnecessary,” vowing to oppose any compulsory redundancies and urging the Welsh government to intervene to stabilize the higher education sector. The university has stated that compulsory redundancies will be considered only as a last resort. A formal consultation process is set to commence, lasting three months, with final decisions expected by June. This development reflects broader financial challenges faced by UK universities, as many institutions grapple with budget deficits exacerbated by reduced international enrollment and tuition fee caps.
https://www.thetimes.co.uk/article/cardiff-university-job-cuts-redundancies-82wzdgpk3
The Arctic Denmark
In a strategic move to bolster its presence in the Arctic, Denmark has unveiled a comprehensive $2 billion security plan aimed at enhancing its military capabilities in the region, particularly around Greenland. This initiative comes amid heightened geopolitical interest in the Arctic’s strategic location and abundant natural resources, with recent assertions from U.S. President Donald Trump emphasizing Greenland’s significance to U.S. security and suggesting that Denmark should relinquish control of the island. The Danish government has outlined a multifaceted approach to strengthen its Arctic defense posture, which includes the construction of three additional Arctic naval vessels, the deployment of advanced surveillance drones, and the implementation of satellite monitoring systems to ensure effective oversight of the expansive and challenging Arctic terrain. Historically, Denmark’s military presence in Greenland has been limited, relying on outdated inspection vessels, a single surveillance aircraft, and traditional dog sled patrols to monitor the vast area. The substantial investment in modernizing these capabilities underscores Denmark’s commitment to asserting its sovereignty and addressing emerging security challenges in the Arctic. Concurrently, Danish Prime Minister Mette Frederiksen has embarked on a diplomatic tour of major European capitals, including Berlin, Paris, and Brussels, to garner support and foster European unity concerning Greenland’s status. This diplomatic effort seeks to reinforce alliances and ensure a cohesive European stance in response to external pressures. The announcement of Denmark’s Arctic security plan has elicited reactions from international partners, with German Chancellor Olaf Scholz affirming the principle that “borders must not be moved by force,” a statement interpreted as a subtle rebuke to President Trump’s suggestions regarding Greenland. As the Arctic continues to emerge as a focal point of global strategic competition, Denmark’s proactive measures reflect its resolve to safeguard its interests and maintain stability in the region.
https://apnews.com/article/b2037f06fb1c42fe3bdac9bd9d123a51
Japanese economist passes away
Takuro Morinaga, a prominent Japanese economist and academic, passed away on January 28, 2025, at the age of 67, after a battle with pancreatic cancer. Born on July 12, 1957, in Tokyo, he graduated from the University of Tokyo’s Faculty of Economics and began his career at the Japan Tobacco and Salt Public Corporation (now Japan Tobacco). He later worked at the Economic Planning Agency and UFJ Research Institute before establishing himself as an independent economic analyst and serving as a professor at Dokkyo University in Saitama. Morinaga was widely recognized for his engaging presence on television and radio, where he discussed a broad range of topics, from politics to popular culture. In December 2023, he publicly disclosed his diagnosis of stage IV pancreatic cancer but continued his media appearances, openly sharing his experiences and treatment journey, which inspired many. Beyond his professional endeavors, Morinaga was an avid collector of model cars, amassing a collection of over 20,000 miniature vehicles. His unique perspectives and contributions to economic discourse have left a lasting impact on Japanese society.
Morinaga became a familiar face on Japanese television and radio. His ability to explain complex economic concepts in an accessible manner made him a beloved figure. He was known for discussing diverse topics ranging from politics, manga, video games, to societal trends, often sparking debates and reactions online. He was noted for his provocative ideas, like proposing higher taxes on “beautiful and rich” men, which stirred significant public and media discourse. His commentary often challenged conventional thinking, making economics engaging for a broader audience. Morinaga’s work went beyond academia and traditional economic analysis; he played a crucial role in making economics relevant to everyday life through his media appearances. His books, like those on celibacy and economic impacts on personal life, were reflective of his interest in how economic forces shape societal behaviors.
Riyadh road
The East Riyadh Plan along Ramah Road (مخطط شرق الرياض طريق رماح) represents a significant facet of Riyadh’s expansive urban development strategy, reflecting Saudi Arabia’s Vision 2030 objectives. This initiative focuses on transforming the eastern corridors of the capital, particularly along Ramah Road, into a blend of residential, commercial, and infrastructural hubs. The area is meticulously divided into numerous plots, each designated for specific purposes, ranging from housing to business establishments, underscoring a structured approach to urban planning. Recent developments have seen substantial investments in road infrastructure to support this growth. Notably, the Royal Commission for Riyadh City awarded Parsons a $53 million, three-year contract to manage the Main and Ring Roads Program, aiming to develop approximately 500 kilometers of new and upgraded roads in Riyadh.
This project is pivotal in enhancing connectivity and accessibility in the eastern regions, including areas along Ramah Road. The real estate market in Riyadh is experiencing a notable surge, with residential property prices and rents witnessing significant increases. In the first half of 2024, sales prices in Riyadh rose by 10%, while rental yields grew by 9%, indicating a robust demand for housing.
This upward trend is particularly evident in the East Riyadh Plan, where the strategic location and improved infrastructure have heightened the area’s appeal to investors and residents alike. However, this rapid development brings forth challenges, notably in housing affordability. The Saudi housing market has seen a 51.6% surge in transactions in Riyadh over the year leading up to the end of the second quarter of 2024, reflecting a booming market.
The government acknowledges these concerns and is implementing measures to address them, such as constructing over 30,000 housing units through the National Housing Company and offering subsidized bank loans to facilitate homeownership. Despite these efforts, the high demand, driven by an influx of young professionals relocating to Riyadh for employment opportunities, continues to exert pressure on housing prices. In summary, the East Riyadh Plan along Ramah Road epitomizes Riyadh’s ambitious urban expansion, balancing opportunities for investment and community development with the imperative to manage growth sustainably and equitably.
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