Tag Archives: economy

Business/Economics, International, Technology

Nuclear Disaster Reactors: Belgium shuts down nuke plant; cracked containment vessel, emergency international meeting!

14 August 2012, the Federal Agency for Nuclear Control is shutting down Reactor 3 at the Doel nuclear power plant in Belgium.

Workers discovered cracks, and other ‘anomalies’, in the containment vessel.  The reactor was built by a company that went bankrupt 40 years ago. Dozens of nuclear plants across western Europe use the same design.

Belgian officials have called for an emergency meeting, with international experts, to be held on 16 August.  Belgium gets 50% of its electricity from nuclear power.

Fukushima

One Year Later: Dogs & cats still abandoned in radiation zones, government now searching for owners. Other pets forced into shelters because owners can’t keep them.

14 August 2012, the Japanese government is now trying to find owners of hundreds of abandoned pets in the 11 March 2011 disaster areas.  Last year the Environment Ministry was able to pick up 750 dogs and cats and place in shelters, 300 are still unclaimed.

Government officials believe there are still hundreds of abandoned pets still living in the radiation zones.

The prefectural government of Fukushima is asking people who are known to have lost their pets if they want them back, or not.  Fukushima officials say they have contacted at least 1,000 people so far.  Officials say they will try to find homes for pets that are no longer wanted, and they will continue to try and capture those pets still loose.

Some owners fear their pets are radioactive, others say they can not afford to take in their pets as they are living in temporary housing, and many owners are still unemployed.

NHK (nippon housou kyoukai/Japan Broadcasting Corporation) recently ran a sad documentary about pets who are being kept in private shelters, until the owners can take them back. The owners are paying for the shelters.  However, in one sad example, the owners of one old dog were finally able to take their dog back only to learn that their dog died just days before they arrived at the shelter.

Visit American Humane Association  Visit globalanimal.org

ONE YEAR LATER: FRESH WATER FISH MORE RADIOACTIVE THAN SALT WATER FISH! MORE PROOF THAT YOU NEED LOTS OF SALT IN YOUR DIET!

GOVERNMENT INCOMPETENCE: MORE RADIOACTIVE BEEF SOLD TO PEOPLE, JAPANESE CATTLE FARMERS ARE NOW BEING TOLD NOT TO USE LOCAL FEED, FARMERS SAY ADVISE IS TOO LITTLE TOO LATE

Business/Economics, U.S.

Corporate Evil: 90% of Too Big to Fail banks’ lawsuits falsify credit card debt!

The following are quotes from U.S. state judges, attorneys and federal government officials regarding the Too Big to Fails’ lawsuits against debtors:

“I would say that roughly 90% of the credit card lawsuits are flawed and can’t prove the person owes the debt.”-Noach Dear, civil court judge Brooklyn, New York

“Our concerns center on the fact that debt collection lawsuits are a pure volume business. The documentation is very bare bones.”-Tom Pahl, Federal Trade Commission

“I do suspect flaws, but there is little I can do.”-Harry Walsh, superior court judge Ventura, California

“This is robo-signing redux.”-Peter Holland, Consumer Protection Clinic at the University of Maryland Francis King Carey School of Law

The quotes came from a New York Times article

Business/Economics, International, U.S.

Government Incompetence: U.S. Navy collides with Japanese oil tanker in Persian Gulf

12 August 2012, on the same day that Japan announced it was sending minesweepers to join the U.S. Navy in the Persian Gulf, a USN destroyer collides with a Japanese oil tanker.

It happened in the middle of the night, near the Hormuz Strait.  The USS Porter is badly damaged and must be repaired.  No injuries were reported. The USN is investigating why the crew of the USS Porter did not see the huge Japanese oil tanker.

There has been no word about damage to the tanker.

Japan had recently allowed the government backing of insurance for Japanese tankers carrying Iranian oil, as a way to get around U.S./European sanctions.  Japan also discussed with Iran the possibility of using Iranian insurance companies.

 

Business/Economics, International, U.S.

What Economic Recovery? Top 5 U.S. banks ordered to make living wills, two years ago! 9 Too Big to Fails now have living wills!

10 August 2012, Reuters published an exclusive report revealing that U.S. banks were ordered to make “living wills”, because of an expected economic collapse!

The order came from the privately run Federal Reserve Bank, and the U.S. Office of the Comptroller of the Currency.  The 2010 order was targeted at five U.S. national banks: Citigroup, Morgan Stanley, JP Morgan Chase, Bank of America and Goldman Sachs.

Both the Federal Reserve and the U.S. government indicated that there was no way to save the banking industry in a full blown economic collapse: “…make no assumption of extraordinary support from the public sector…”

The Reuters’ report explained that living wills for corporations are not the same as bailouts/recovery plans.  In the living will the too big to fail bank is basically finished, but directs how any remaining assets shall be liquidated (sold off) in order to prevent a total collapse of the banking/finance system.

Already, nine international banks have submitted their living wills to the Federal Reserve and the Federal Deposit Insurance Corporation.

 

Idaho

11 August 2012: Busiest Chubbuck Days ever! Dogs, cars, fire trucks, hammers and poles being thrown around, plus food, music & vandalism Chubbuck style!

Image

I’ve been attending Chubbuck Days since 1998 (I live right next to Cotant Park where they’re held every year), and this year’s events were the busiest ever!

Click pics to make bigger

Busiest Chubbuck Days ever, August 2012: 6TH ANNUAL CAR SHOW (PART 2) 

6TH ANNUAL CAR SHOW (PART 1)

4TH ANNUAL EASTERN IDAHO SCOTTISH GAMES

Business/Economics, U.S.

What Economic Recovery? 290 U.S. cities downgraded! Local tax revenues down, again!

“We expect downgrades to continue outpacing upgrades in the second half of 2012 as local governments navigate an increasingly difficult budgeting environment characterized by anemic revenue growth and significant expenditure pressure on wages and post employment benefits.”-Moody’s statement

09 August 2012, Moody’s Investors Service downgraded the largest number of U.S. cities/school districts since 2000.

The latest downgrades mark 14 straight quarters in which municipal bond downgrades exceeded increases!

In another report by Nelson A. Rockefeller Institute of Government, tax revenues collected by local governments are down, for the sixth consecutive quarter!

The latest reports and downgrades only adds ammo to the “tip of the iceberg” bankruptcies filed by local governments.

 

Business/Economics, International, U.S.

Global Economic War: British bank official tells the United States to F Off, literally!!!

“You fucking Americans! Who are you to tell us, the rest of the World, that we’re not going to deal with Iranians?”-attributed to Richard Meddings, finance director of Standard Chartered Group

According to U.S. banking regulators, the above statement was made by the British banking official back in 2006 (under the Bush Jr administration), after being questioned about money laundering!

Now the New York State Department of Financial Services named United Kingdom’s Standard Chartered a “rogue” bank, and threatens to strip its New York banking license.  The reason is that Standard Charter refuses to go along with U.S., and even British, financial sanctions against Iran.

Meanwhile, international commentators are saying this is proof that the United States has lost significant influence over the rest of the World, including their evil ally the British empire!

 

Business/Economics, Idaho, International, Technology, U.S.

What Economic Recovery? Hewlett Packard to layoff 300 British employees, government officials calling it a “quarterly cull”! HP has too much debt, turns to GE for help!

“This is not part of the global program, it’s just a quarterly cull.”-unnamed government source

03 August 2012, news media in the United Kingdom have discovered that Hewlett Packard (HP) has told the British government they will let go at least 268 employees.

British law requires companies that are laying off more than 20 employees to notify the government.

Despite the unnamed government official’s statement, some analysts believe this is part of the planed layoff of 27,000 HP employees by October 2014.

HP officials in France and Germany said they’re planing to cut their workforce by 10%.  In Sweden it could be as high as 14%.  Italy and Spain are still awaiting HP’s layoff estimates.  Even the announced 268 layoffs in the U.K. are not considered the final cut.

Unions in Britain are claiming that HP will end up laying off at least 1,600 employees.  CEO Meg Whitman, refused to answer British media questions.

On 30 July 2012, the Wall Street Journal reported that HP was finding it harder and harder to get credit default swaps on its debt.  The cost of such swaps has quadrupled for HP since last year.  That’s because more and more investors are worried that HP will end up busted.

Also, HP’s debt load is now at $21 million USD, no thanks to its recent purchase of a company called Autonomy.

As a result HP has turned to General Electric (GE) for financial help.

On 02 August 2012, GE Capital announced they will offer credit to HP resellers. The offer includes 60 days of no interest re-payments: “Resellers of any size can view this kind of financing as working capital that they can use to help grow their markets and expand their businesses. We’re pleased to be working with HP to support its resellers.”-Mike Marcolina, GE Capital Commercial Distribution Finance

 

 

Business/Economics, International, U.S.

LIBOR: RBS takes action against its own employees

“The LIBOR situation is on our agenda and is a stark reminder of the damage that individual wrongdoing and inadequate systems and controls can have in terms of financial and reputational impact.”-Stephen Hester, CEO RBS

03 August 2012, the Royal Bank of Scotland announced it has fired several employees for their involvement in the LIBOR rigging scandal.

RBS officials said they are cooperating with international investigators.

The government of the United Kingdom owns 82% of RBS.

RBS reported a pre-tax loss of $2.3 billion USD!  RBS is also setting aside $211 million to compensate loan insurance customers. Those customers claim RBS lied to them about what they were getting.

Check my other postings about LIBOR.