While UBS' Art Cashin sees the 'uptrend' in stocks as largely in tact, though warns of the start of what appears to be a stalling formation, there is another 'bigger' potential crash on his mind. Having survived the Mayan apocalypse, and a Papal resignation, our home planet is due for a record setting space encounter on Friday (Feb. 15) of this week... which means it is now too late to even send Bruce Willis (or better yet, Bob Pisani) into space for an Armageddon sequel. We are told to keep calm and carry on - Bernanke-like "there is nothing to worry about", but no known asteroid has traveled this close to earth in recorded history. Let's hope the slide rule guys have it nailed - or the grand central planner.
Nothing To Worry About They Assure Us – Here's a bit on the incoming asteroid by Ken Kremer in "Universe Today":
Our home planet is due for a record setting space encounter on Friday (Feb. 15) of this week, when a space rock roughly half a football field wide skirts very close by Earth at break neck speed and well inside the plethora of hugely expensive communications and weather satellites that ring around us in geosynchronous orbit.
“There is no possibility of an Earth impact” by the Near Earth Asteroid (NEO) known as 2012 DA 14, said Don Yeomans, NASA’s foremost asteroid expert at a media briefing. Well that’s good news for us – but a little late for the dinosaurs.
At its closest approach in less than 4 days, the 45 meter (150 feet) wide Asteroid 2012 DA14 will zoom by within an altitude of 27,700 kilometers (17,200 miles). That is some 8000 km (5000 miles) inside the ring of geosynchronous satellites, but far above most Earth orbiting satellites, including the 6 person crew currently working aboard the International Space Station.
Although the likelihood of a satellite collision is extremely remote, NASA is actively working with satellite providers to inform them of the space rocks path.
The razor thin close shave takes place at about 2:24 p.m. EST (11:24 a.m. PST and 1924 UTC) as the asteroid passes swiftly by at a speed of about 7.8 kilometers per second (17,400 MPH)- or about 8 times the speed of a rifle bullet. For some perspective, it will be only about 1/13th of the distance to the moon at its closest.
“Asteroid 2012 DA14 will make a very close Earth approach, traveling rapidly from South to North and be moving at about two full moons per minute,” said Yeomans, who manages NASA’s Near-Earth Object Program Office at the Jet Propulsion Laboratory in Pasadena, Calif. “That’s very fast for a celestial object.
No known asteroid has traveled this close to earth in recorded history. Let's hope the slide rule guys have it nailed.