Tag Archives: banks

Fukushima

Japan Modern Day Atlantis round 2

12 March 2011

Part of the myth of Atlantis is that the people of Atlantis had become extremely arrogant because of their technological advances. Some Atlantis myths say they were destroyed for their arrogance. The ongoing nuclear disaster in Japan is a modern day example.

The Fukushima nuclear plant was built with many safe guards and back up systems. This was part of the selling point of the plant when convincing the people to accept that the worlds biggest nuclear plant was to be built in their country. Right up until the explosion at reactor 1, the government was reminding people of all the back up systems and how unlikely it was for the problem to get worse. It got worse, and it could get catastrophic. There is more than one reactor at the plant, and reactor 2 is in trouble. (Japan’s NHK media will not show the video of the explosion of the reactor, I watched it on BBC and RT. Japanese officials are still claiming that the explosion happened after the walls fell down. Watch the video, there is a clear shock wave before the walls fall.)

What happened to the safeguards and back up systems, which included 13 back up diesel generators for reactor 1? It all failed, all the high tech systems failed. Plant officials and workers were attempting to cool the reactor manually. They were rotating work crews in and out of the plant, because of the radiation levels. The crews were trying to operate cooling valves manually. Also, they were dumping sea water on the reactor, in an attempt to cool it down (the U.S. military was helping with this attempt). All these attempts failed.

Another event has escaped the attention of most media and government officials: Landslides. A CNN reporter discovered, on her way to flood hit areas, that major landslides have occurred at higher elevations. She did a live report from one small town where half a neighborhood was buried by what looks like about 20 feet of earth. There are reports of towns being wiped away, by landslides and flooding. One small city says 9500 of their residence are missing, half their population. Again, the Japanese government is downplaying the severity of the situation, they are still saying the “…death toll could hit 1000” (can you say “understatement”?). When you hear the number of people being reported as missing, by the different cities and prefectures, the indication is that the death toll will be in the thousands, if not tens of thousands. Japan’s NHK has been showing before and after aerial pics of cities. It is clear that some cities have been completely erased.

Also, I have heard that millions of people on the main Japanese state of Honshu are without access to drinking water. The water supply system has failed. No power, no water, no food supply because the road/rail systems are disrupted, the systems of an advanced society have failed. In the U.S. I still hear insulting talk about the people of Haiti, still suffering from their deadly quake, better think twice and humble your arrogance.

The Atlantis myth has another lesson for arrogant humans: Societies can be erased by Mother Earth, no mater how advanced their technology, no mater how correct they think their way of life is. Mother Earth always wins.

JAPAN MODERN DAY ATLANTIS:  “A potentially catastrophic disaster,” understated President Obama. 

Fukushima

Japan Modern Day Atlantis

12 March 2011

“A potentially catastrophic disaster,” said President Obama. Hello, can you say understatement?

Aside from the looming nuclear disaster, it is starting to look to me that there is a major catastrophic geological event taking place under Japan. There are now reports that suggest that the big 8.9 quake set off chain reaction quakes all over Japan’s main state of Honshu. It would explain why some areas experienced shaking for up to 5 minutes. Other reports are adding that there was more than one major tsunami, which would have been caused by multi-quakes around Honshu. Early morning, March 12, NHK reported that some parts of northern Honshu were still being hit by small tsunami every 30 minutes. This means the “event” is continuing. The east coast of Honshu moved at least 8 feet eastward. Also, there was the 6+ quake on the north west coast of Honshu on Friday, and there was a 7.3 quake the day before the bigger 8.9. A Japanese committee said GPS data indicates that the quakes were “synchronized”.

Honshu sits where three major tectonic plates converge: Pacific Plate, Eurasian Plate and Philippine Plate. A major quake with chain reaction quakes on the Pacific side, with a major quake following on the Eurasian side, signifies a major tectonic event. (There are more detailed smaller plate and trench structures that run through Honshu).

Also, in some areas of northern Honshu the flood water has not receded. An “expert” interviewed on NHK stated that it could be because the ground was saturated (don’t quote me, this was through hasty translation). I find it interesting that the ground was saturated that fast from flooding, I’m thinking liquefaction. So water is not only being pushed on land, but it is being pushed up through the land. Another possibility is that the land has actually dropped.

Liquefaction was a factor in the large earthquakes along the New Madrid fault line during the 1800s in the United States.

The Pacific Plate is making a major push eastward. The norther end of Honshu might go the way of Atlantis, being submerged under the ocean. But this brings up the question of what is happening on the eastern side of the Pacific Plate, North America.

The Pacific Plate is being pushed by the North American Plate (I assume that because the North American Plate is moving southwesterly, and is not being subducted, except along the Puerto Rico Trench). Big events should be expected in North America. It is known, by geological evidence, that a major quake/tsunami event is expected anytime for the Pacific Northwest. What is happening to Japan could be a precursor for a major event for North America, just as what happened in New Zealand could be considered a precursor to the Japan event (New Zealand sits on top of the converging Pacific and Australian plates). Don’t forget the super volcano known as Yellowstone, in the Pacific Northwest, is overdue for major eruption.

Be prepared.

Fukushima

Japan Quake = No Economic Recovery

11 March 2011.

Japan’s huge earthquake, Tsunami and huge aftershocks, are not only devastating for the people of Japan, but are devastating to Japan’s economic recovery, as well as the world’s economic recovery.

Infrastructure for densely populated areas of Japan, hit by the flooding, are destroyed. Nuclear power plants are shut down. One nuclear power plant is in emergency mode because its cooling system, and back up systems, have failed. Auto manufacturing plants have been shut down. A major oil refinery is on fire. A lot of the land flooded by the Tsunami is farm land, which means no crops this year, adding to the what the UN is calling a World Food Supply Crisis for 2011.

This on going event of Mother Earth is adding insult to injury for Japan’s struggle for economic recovery. Before the quake hit, Japan’s so called recovery stalled, with its credit rating downgraded because the country is deep in debt. Recently there was hope that investors would start buying up stocks in Japanese companies, because they were considered a bargain, and, it was thought they would pick up in value as the Japanese recovery picked up steam. Now all that is in doubt.

It looks like Japan, helped by Mother Earth, might become the next domino to fall in the world economic crisis.

Business/Economics, Idaho, U.S.

Bad Loans, Mortgage Notes, Foreclosures all part of possibly the biggest Scam in U.S. History

A mortgage Note is the document that proves who holds the mortgage on the home that’s being bought.  There’s more and more evidence that the big banks can’t find those notes.  That includes Notes on homes that have already been foreclosed.  Another problem is that, in states that require court involvement, the judges never asked for proof of the Note.

The program, Need to Know, on the Public Broadcasting Service (PBS), interviewed Michael Hudson, an author who revealed how the big banks were intentionally trapping people in bad home loans.  Hudson says The big banks are using the same tactics in foreclosing.  He also says that many of the foreclosures involve home buyers who were looking to refinance their loans to save money, instead they were set up to fail.

OAKLAND, CA - APRIL 26: Homeowners wait to meet with Wells Fargo employees during a free workshop for customers who are facing mortgage payment challenges April 26, 2010 at the Oakland Convention Center in Oakland, California. Over 1,000 people who are in risk of slipping into foreclosure were scheduled to attend the mortgage workshop in hopes of getting loan modifications to avoid losing their homes. (Photo by Justin Sullivan/Getty Images)

The problem with the Notes is that the big banks quickly sold off the bad loans, and there doesn’t seem to be any record keeping regarding the Notes.  In many cases, mortgages were sold several times over to other banks, and as investment schemes.  Hudson says the push to foreclose is a way of making more money for the big banks.  In other words the bad loans, the reselling of mortgage loans, and now the foreclosures, are all part of a big money making scam by corporate America.

MIAMI - OCTOBER 01: A pre-foreclosure sign is displayed outside a home on October 1, 2009 in Miami, Florida. Declining home prices, low mortgages rates and government stimulus programs have helped push up the number of pending home sales according to the National Association of Realtors, as they rose by 6.4 per cent in August and were up by 12.4 per cent from a year ago. (Photo by Joe Raedle/Getty Images)

Michael Hudson says the Federal government has done almost nothing about this probable crime against American home buyers.  It’s the states that have taken the most action.  But each state has their own foreclosure laws, which seem to be adding to the mess.  Hudson says that the reason why President Obama isn’t ordering a halt to foreclosures, is that he could be held politically responsible for any crash in the housing market.  That would suggest that the current housing market is actually being driven by the foreclosures.

LAS VEGAS - MARCH 21: Countrywide Home Loans home mortgage consultant Al Lizarralde (L) and RE/Max Central realtor Brenda Zablockis leave a bank-owned house during a RE/MAX Central bus tour of foreclosed homes March 21, 2009 in Las Vegas, Nevada. RE/MAX Central of Las Vegas co-owner Ruth Ahlbrand said the Las Vegas area has been one of the top three worst foreclosure markets and one of the top three worst markets for slumping home prices in the United States since late 2007. Ahlbrand said the real estate group began giving tours for prospective buyers three times a week in February 2008, in an effort to clear inventory of foreclosed properties. (Photo by Ethan Miller/Getty Images)

Another article, in the Executive Intelligence Review, says that this is all part of the dying last gasp of our country’s financial system.  For too long investments have been sold, that were on paper only, no real assets.  So the bad loan scandal was how the big banks set things up to grab some real assets, and the foreclosure scandal is how the big banks are cashing in those assets to pay off the investors.

Business/Economics, U.S.

Housing Start Numbers BS say Contractors

According to a CNN report, despite housing construction start numbers being up, contractors says actual construction is flat.

The official Federal government housing start numbers only indicate the number of construction permits approved by local governments.  Contractors say that banks are refusing to finance most new construction.

NORTH LAUDERDALE, FL - AUGUST 11: A building permit is seen on the wall as workers refurbish a home that Habitat for Humanity bought in a foreclosure sale on August 11, 2010 in North Lauderdale, Florida. In the nationwide program the organization purchases bank-owned homes and turns them into safe, decent, affordable place to live. (Photo by Joe Raedle/Getty Images)

“Remember a couple of weeks ago when they came out and said guess what the recession was over? That rumble you heard was the construction industry laughing their ‘friggin’ brains out,” says contractor Paul Kinney, owner of a top 500 home building company in the United States.  Another problem is that some U.S. banks agree to fund a project, then, as the project is about to start, they cancel the funding.

Contractors are saying that most big construction projects that do get built, are being built with foreign money.

Business/Economics, Idaho

Hoku Turning to China to Help Finish Pocatello Plant

13 October 2010

Hoku Corporation has taken on several millions of dollars in loans, from Chinese banks, in order to finish construction of their Pocatello, Idaho, polysilicon plant.   That’s according to information on Hoku’s website.

Also, Hoku has amended its construction contract with JH Kelly.  A result of delays due to Hoku having difficulty with funding the construction.

Hoku Corp. produces fuel cell membranes, photovoltaic systems, and hopes to produce polysilicon for solar panels at the new Pocatello facility.

Hoku has made several supply agreements with companies based in Asia, but, those agreements hinge on the completion of the Pocatello plant, and, successful demonstration of polysilicon production.  Those agreements have resulted in hundreds of millions of dollars of pre-payments by the Asian companies.

Hoku is hoping to get production started by the end of the year.

Business/Economics, Idaho, U.S.

Idaho Investigating Foreclosure Fiasco

Officials from 50 states, including Idaho, along with the District of Columbia, announced they were launching investigations into possible foreclosure abuses.  Today, one of the biggest banks involved announced a $4.4 billion profit in the 3rd quarter.

There is growing evidence that bank employees falsified information on foreclosure paperwork.  RealityTrack says more than 2.7 million homes have been lost to foreclosure since 2007.

CHICAGO - JULY 15: A demonstrator protests outside the offices of JPMorgan Chase July 15, 2010 in Chicago, Illinois. He was demonstrating in support of families being evicted from an apartment building because the building has been deemed uninhabitable by the city. Residents claim the building was not maintained after the bank took over the building following a 2008 foreclosure. Residents are required to be out of the building by Saturday. (Photo by Scott Olson/Getty Images)

JP Morgan Chase, Bank of America and Ally Financial/GMAC  have admitted that their paperwork has errors.  Citigroup and Wells Fargo deny they have done anything wrong (www.detnews.com).

On Friday, Bank of America halted foreclosure processes in all 50 states.

Idaho Deputy Attorney General Brett DeLange stated on Tuesday that, “We currently know about this at the national level and we have received complaints, some recent, of specific defects under Idaho law.” (www.idahopress.com).

Idaho, Opinion

Red Cross Hummers. Why?

Brand new Red Cross Hummer seen in the Fred Meyer parking lot in Pocatello, Idaho.

General Motors has been donating Hummers to the American Red Cross since 2004, along with a lot of cash ($100,000 in 2004). GM claims the vehicles help with disaster response. I can see the Hummer H1 as practical for this, but the H2 & H3 are among the most impractical  SUVs out there.

Why not deck out one of GMs big four door 4×4 pickups with all kinds of rescue gear, that would be more practical. Are the H2s & H3s meant for rescuing the upper class in style?

This is just another example of the lack of wisdom in our corporate leadership. Oh, but wait, I bet GM got a huge tax write off for doing this. A tax write off for an expensive vehicle that was seeing declining domestic sales (a little more than 9,000 in 2009 compared to almost 56,000 in 2007). Oh, isn’t General Motors the company that got bailed out by U.S. taxpayers (yes, they did pay it back, at least on paper).

Here’s better news; the Hummers aren’t even made anymore. The Chinese government rejected plans to buy Hummer, and GM officially ceased production this year (apparently the last Hummer H3 left the production plant in May 2010).

So the question now is; is GM going to continue to donate vehicles to the American Red Cross, or was it just a way to write off their unsold Hummers? If they do give the ARC more vehicles I hope they choose a more practical truck.