Tag Archives: eu

Business/Economics, International, U.S.

Global Economic War: Japan government to insure ships carrying Iraninan oil!

On 1 July 2012, the European Union’s sanctions against Iran kick in.  This includes European shipping insurers (who dominate the market) ending insurance on ships carrying Iranian oil.

20 June 2012, the Japanese Diet has passed a law that allows the government to cover Japanese tanker ships transporting oil from Iran.

The law was unanimously passed by the Upper house, and will provide up to $7.6 billion USD in coverage.  Many Japanese insurance companies expressed concern for providing enough insurance due to the warmongering by the U.S. and EU against Iran.

The government insurance policy goes into effect several days before the EU sanctions on 1 July.

Business/Economics, International, U.S.

What Economic Recovery? IMF demands Japan raise taxes. It’s all about making investors happy, call it Global Vulture Capitalism!

12 June 2012, the International Monetary Fund (IMF) wants the Japanese federal government to raise sales taxes by a minimum of 15%.

The IMF issued a report to Japan, saying it was critical that “reforms” were made to social programs, and taxes.

Currently Japan has a 5% national sales tax, and the Diet (parliament) is considering raising it to 10%.  The IMF wants it to be 15% or more!

The IMF report reads very much like what is being imposed on people in several European countries, like Greece and Spain.

An IMF official admitted that it had nothing to do with saving governments, or helping citizens of affected countries, it was all about “investors”: “Japan must tackle its deep rooted fiscal problems. Passage of the current tax and social security reforms is thus crucial to demonstrate commitment to fiscal reform and thus to sustain investor confidence.”-David Lipton, First Deputy Managing Director IMF

Business/Economics, International, U.S.

Sign the West is going down: Huge jump in suicides, even the U.S. military sees 154 suicides in 155 days! Blame the War, blame the economy!

8 June 2012, numerous reports proving that things are not well in the Western world.  The biggest sign is the increase in suicides.

According to the U.S. Centers for Disease Control and Prevention (CDC) suicides by U.S. teenagers hit 7.8% in 2011. An increase from 2009’s 6.3%.

The info is found in the CDC’s 2011 National Youth Risk Behavior Survey.  That survey also found the percentage of teenagers who seriously considered suicide up as well; 15.8% in 2011. 

In Japan (considered part of the Western world, it is part of the Trilateral Commission), the National Police Agency reported on 8 June 2012, that 622 people aged 19 or younger committed suicide, up 70 from 2011. The number of suicides of people in their 20s rose by 64 to 3,304.

The Japanese government says suicide by people younger than 30 years has increased every year since 2009, they blame the bad economy and the increasing lack of jobs!

Reuters reporting that suicides in the economic crisis stricken country of Greece are up; a 40% increase between 2010 & 2011!

In the United Kingdom, the latest data shows a 10% increase in suicides between 2007 & 2009.

At the end of May 2012, France saw a wave of suicide by railway: “We’ve never seen so many suicides in such a short period of time.”-Michel Pronost, Société Nationale des Chemins de fer français/National Corporation of French Railways

  In four days 12 people killed themselves by jumping in front of a train, including one man who took his 19 month old baby with him.  The causes were blamed on everything from bad relationships to the bad economy.

In India (a Western country due to it being a former British colony, and still under some influence by the British & U.S. Empire, and operating a Western style economy), a too big to fail bank (Central Bank of India) is downplaying suicides, saying “Farmers’ suicide numbers is just media hype.”  The statement was made after hundreds of farmers killed themselves when their credit was cut off by the bank (they were de-leveraged, a policy that has been pushed by the U.S. controlled World Bank and IMF)!

The amazing thing is that India’s economy is booming (they are part of the BRICS)!

South Africa (a Western country as it was established by the British Empire, and uses Western style economy) reports a “shocking” increase in suicide, especially among people who were about to lose their jobs.

Another surprise was that the sudden increase in suicides is among white males: “A lot of them have wives who have been raising kids. She has no skills, he has no job and is freaking out. People feel retrenchment [job loss] is a black mark against them, and they worry that they will be perceived as having done something wrong.”-Janine Shamos, South African Depression and Anxiety Group

About one in ten deaths in South Africa are due to suicide. The amazing thing is that South Africa’s economy is supposed to be good (they are part of the BRICS)!

For every person who killed themselves, there were 20 people who tried to do the same thing. A British sociologist says government cuts to social programs only makes things worse: “Austerity can turn a crisis into an epidemic. Job loss can lead to an accumulation of risks that can tip people into depression and severe mental illness which can be difficult to reverse, especially if people are not getting appropriate care.”-David Stuckler, Cambridge University

A psychologist says such bad economic conditions actually speeds up the process of depression that leads to suicide: “Instead of seeing a slow increase in the epidemiology of mental illness, what we’re seeing is what we predicted, that these economic impacts have rapid significance for our way of thinking about the world.”-Peter Kinderman, University of Liverpool

Back in the United States, Time.com and the Associated Press are reporting that suicides among active duty military personnel have hit almost one per day!

Pentagon data shows 154 suicides during the first 155 days of 2012, 50% more than those U.S. personnel killed in Afghanistan!

In 2008 suicide among U.S. military personnel exceeded the civilian cases: “…historically, the suicide rate has been significantly lower in the military than among the U.S. civilian population.”-U.S. Army statement, 2010

Military mental health officials blame the repeated deployments in the never ending War on Terror!

 

 

 

Business/Economics, International, U.S.

What Economic Recovery? Emergency meeting Group of 7! “Impossible” to save Spain! Major credit freeze coming, just as Toyota warned!

“It is really hard in Spain to get a job right now because there are no jobs, and if somewhere you might have a chance, they do not want to pay what is more or less normal. Plus, everything is so expensive: supermarkets, food… Everything is really difficult now.”-Ada Adon, unemployed in Madrid, Spain

 

It has been revealed that the seven top industrialized countries (Group of 7, aka G7) had been in an emergency phone conference since late last night Japan time, early morning U.S. time!

Finance and banking officials from Japan, United States, Canada, Britain, France, Germany and Italy were discussing the global economic situation, a sign that things are getting worse!  The focus is on the European Union (EU).

No joint statement was issued, but Japan’s Finance Minister, Jun Azumi, said all efforts at the moment will focus on preventing a total collapse of the EU.

A German analysts said many investors are on the verge of giving up: “History is repeating itself, we are again in full crisis mode. Last year: crisis; this year: crisis.  The politicians have learned nothing. It would be so easy though. The ECB [European Central Bank] should massively intervene and buy time for countries like Italy and Spain so that they can pursue reforms. Nobody can bear this cacophony, this waiting, this riding out any more.”-Robert Halver, Baader Bank

This comes before the G20 meeting, and it comes on the same day Spanish officials announced a possible second credit crisis.

Spanish Treasury Minister, Cristobal Montoro, admitted on Spanish radio that it was “technically impossible” to save Spain’s economy!

It turn’s out that the recently created EU European Stability Mechanism (a bailout fund) doesn’t have enough money to bailout Spain, let alone other EU members!

Montoro blames high interests rates for crashing the Spanish economy, as well as other EU economies. He says the result will be another huge credit crunch.  On 31 May 2012, Toyota of Japan signaled such an international credit crisis by announcing it was selling $2.5 billion USD in bonds, to raise cash in order to ride out a second coming credit crisis (of course the U.S./British media misreported it).

 

 

 

 

Business/Economics, International, U.S.

What Economic Recovery? U.S. job creation crashing! European unemployment holding at record high! Production falling in China! Japan going down! Government bonds at record lows! Dow Jones erases all gains of 2012!

1 June 2012, bad news for everyone, that is bad news for everyone playing the western (U.S./British dominated) game of capitalism (including the “communist” Chinese)!

Employment numbers did not live up to the expectations of experts in the United States. The U.S. Department of Labor reported that only 69,000 net jobs were created in May.  Employment experts in the private sector expected at least 150,000 new jobs.

To top that, the Labor Department revised the April and March employment numbers…down!  For the two months before May, the number of net jobs created was revised downward by 49,000!

In the past labor officials said that in order to have an economic recovery unAmerican Corporate America must create 200,000 net new jobs every month.  That hasn’t happened, and now it’s worse!  The latest estimates are that 362,000 net new jobs must be created every month, for three years straight!  That would bring down the unemployment rate to 6%.

Here’s some factual numbers: At least 12.7 million people in the U.S. are “officially” unemployed.  At least 100,000 million people are “unofficially” unemployed!  Both those factual numbers come from the U.S. Department of Labor!

As one of the many Low Income workers who recently went back to work, working for the Man in the U.S. (after two years of unemployment), let me just say this: No Shit Sherlock!

We Low Income workers, still with jobs, have seen the unAmerican Corporate America bullshit first hand, on a daily bases.  It’s now to the point many of us see it on an hourly bases!  Nothing has changed, people!  If anything the glorified, deified, well educated, well financed leaders of our country are only picking up speed with their snowballing moronic decision making!  Need proof?  How about JP Morgan Chase  (I now work for a contractor who lost a contract with Chase, now I think we know a major reason why Chase canceled the contract)?  Wake up people!!!  UnAmerican Corporate America is the cause of our economic decline!

Now for Europe.

The 17 member European Union held onto its record unemployment rate for the second month in a row. The latest report is for the month of April, and it stands at 11%.  When you break it down by EU member countries it gets worse: Italy  10.2%, Portugal 15.2%, Greece 21.7% (stats for February only).

But how about that Spain?  24.3% unemployment!  When you look at just youth unemployment (workers under 25 years of age) it’s 51.5%!!!  Can you say “get ready for civil war”?

The result of the collapse of the EU is causing the euro to crash & burn, and forcing the Japanese yen to increase in value.  Not only that, but today was the first day that China and Japan began trading their money (in order to avoid the U.S. dollar) and the yen gained in value over the Chinese yuan!

That will kill Japanese business.  Japan is a country whose economy depends on international trade.  Since 2011 the yen has gained in value, and has already caused major harm to Japanese companies.  Yesterday Toyota announced that it was selling $2.5 billion USD in bonds to raise cash, because they believed another credit crash was coming (funny how the U.S./British mainstream media misreported the news).

China is reporting a drop in the Purchasing Managers’ Index, down 2.9 points from April.  The drop is caused by a combination of decreased sales internationally, and domestically.  It means China’s economy is slowing down, and if China is the manufacturing center of the western capitalist world, then it makes for a good canary in the western capitalist economic coal mine.

Oh, let’s not forget those stable government bonds.  On 1 June 2012, U.S. ten year bonds hit a record low of 1.5% interest!   German government bonds hit a record low of 1.1%!

The result of all this doom & gloom, based on factual data, is that all the stock markets in Asia went down.  In the United States the Dow Jones Industrial Average (aka Wall Street) lost all its gains for January to May 2012, falling more than 200 points in one hour and 30 minutes!

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

What Economic Recovery? HP to layoff up to 48,000 more employees! Texas to be hit hard? Idaho’s printer factory targeted? Blame lack of recovery in Europe!

23 May 2012, Hewlett-Packard (HP) is expected to layoff another 25,000 employees according to an unnamed source, reported in a CNN/Fortune article.

The original report of the 25,000 job cuts came from Bloomberg on 17 May 2012.  It includes about “…10,000 to 15,000 from Hewlett-Packard’s enterprise services group.”  HP’s enterprise services is headquartered in Plano, Texas.

However, on 16 May 2012, Business Insider reported that HP wants to layoff up to 15% of its employees. “Layoffs are going to be significant.” HP has about 320,000 employees, if they go for a 15% cut that’s 48,000 people losing their jobs!

The Wall Street Journal (WSJ) is reporting that HP will report huge losses after the stock markets close today, 23 May. The WSJ Market Watch is expecting HP to report a quarterly earnings decline of 27%, with overall revenues down by 5%.

Fox News reporting that HP is suffering from the bad economy in Europe, which makes up 37% of HP’s business: “The increasing uncertainty and resulting macro weakness in Europe will likely act as an ongoing headwind to growth.”-Chris Whitmore, Deutsche Bank Securities

CNN is reporting that “Many of the job cuts are expected to come from the printing unit.” Back in march, HP announced it was merging its computer and printer factories.  However, this is not the first time HP has combined computer and printer production.

The last attempt was made in 2005, and was reversed six months later.

According to the IdahoStatesman, more than 50% of HP’s Boise, Idaho operation is printing and imaging.  When the IdahoStatesman questioned HP’s Boise campus boss (back in March), he claimed he was unaware of the merger of computer and printer operations.

Hewlett Packard has been slashing and burning ever since 2009, when employees got a 5% pay cut.  Then in 2010, about 9,000 jobs were cut. In February 2012, 275 people lost their jobs due to the canceling of HP’s webOS.

Business/Economics, International, U.S.

What Economic Recovery? European economies crashing and burning! Greece -6.2% GDP! IMF wants Mo Money! China in trouble!

May 15, 2012, the Group of 20 industrialized countries (not for long maybe?) will be meeting in Mexico, in June.  Already Mexico and Japan are calling for G-20 members (mainly those of the BRICS: Brazil, Russia, India, China and South Africa) to give the U.S. based International Monetary Fund another $430 billion USD!!!

This is because the European economies are crashing and burning. Italy reported a minus 0.8% GDP for the January to March quarter. That’s three quarters in a row of declines! Spain reported a minus 0.3% GDP, for the second quarter in a row. But Greece reported a huge minus 6.2% GDP!!!

The only “good” news came out of Germany, which reported a stagnant 0.5% GDP. And Germany is supposed to be the economic powerhouse of Europe!  Of course main stream western media reporting it as a “bounce back” in the economy, idiots!

Overall, the entire 17 member European Union reported a stagnant 0% GDP for January to March 2012!

To make matters worse, China is reporting that European investment into China has declined for six months in a row!  Chinese officials admitted that their country’s explosive economic growth can only be driven by foreign investment (like unAmerican Corporate America shipping U.S. jobs to China).

From January to April 2012, European investment into China dropped 28%.

 

 

Business/Economics, International, U.S.

What Economic Recovery? Greek Unemployment breaks Records! 60,000 companies went bust!

On May 10, 2012, the Greek Statistical Authority revealed that unemployment continued upward to record levels.

For February 2012, unemployment was at an official record high of 21.7%!

But wait, there’s more!  The reason for the record breaking unemployment was that 60,000 Greek companies went out of business in 2011!  60,000!

Greek business associations say another 60,000 could go bust in 2012!  They blame it all on the “austerity” cuts the Trilateral Commission control government is imposing upon the people of Greece.

On May 6, Greek voters voted to get rid of the U.S. based Trilateral Commission controlled ruling party, but now efforts to create a new government have stalled.

Business/Economics, International

What Economic Recovery? Spain hits record unemployment, highest in Europe!

April 27, 2012, Spain’s National Statistics Institute announced that Spain’s unemployment rate is officially at 24.4%, the highest ever for Spain, and currently the highest in Europe!

That’s 5.6 million people out of work in a country with a population of 46 million people!

The 24.4% rate is for the first quarter of 2012.  It’s a 370,000 increase from the last quarter of 2011!

Now realize that Spain is considered the fourth largest economy in Europe!

The government of Spain plans on enacting even more spending cuts, and increases in taxes.  Mmmm, I think that’s whats actually making things worse?