Category Archives: U.S.

Business/Economics, International, U.S.

What Economic Recovery? Obama about to send $145 million in military aid to Africa, $200 million for Yemen

Last week the Pentagon presented Congress with a plan to provide African countries with up to $145 million in military aid.  The aid, in money and equipment, is for so called counter terrorism operations.

The $145 million, to be split between several African countries, doesn’t compare to what just one country got last year.  Yemen, on the Arabian Peninsula, got $155 million in aid last year, paid for by taxpayers.  And this year the Pentagon wants give Yemen $200 million!

Out of the $145 million in military aid going to African countries, only $600,000 is for ‘human rights training’.

 

Fukushima, U.S.

Corporate & Government Incompetence: Nebraska flood knocks out power to Nuclear Plant, no thanks to workers not paying attention

26 June 2011, an accident at the Fort Calhoun nuclear power plant resulting in the expanding Missouri River flooding into the compound.  The water hit the nuke plant’s electrical transformers, cutting off power.

Electricity is still needed to keep the spent fuel pools cool.  Plant officials say they are now running on back up generators.

Forth Calhoun officials ordered the installation of a water filled artificial levee (berm).  The Nuclear Regulatory Commission did not approve the artificial levee.  At about 1:25 am, 26 June, workers broke the water filled berm, allowing the Missouri River to flood in.

This natural disaster is the latest bad news for the Fort Calhoun nuke plant.  In April plans to refuel its reactors were halted, over concerns of flooding by the Missouri River.  Then, on 07 June, a fire broke out in one of the reactor control rooms.  An inspection two years ago revealed that plant operators were not properly prepared for a flood.

Business/Economics, International, U.S.

What Economic Recovery? World Banks tightening their grip on money

On Saturday, June 25, the Basel Committee on Banking Supervision announced that all major international banks, and central banks (like the U.S. Federal Reserve) are going to increase their capital reserves.

This means they are going to hold onto more money and issue less loans.  Some banks refer to capital reserves as putting their money to ‘rest’ (aka bank reserves, desired reserves).

The Basel Committee on Banking Supervision refused to give a list of which banks will be holding back on their money.  This is an indication that the major international, and central banks do not expect any short term improvement in the world economies.

The increase in capital reserves is to help banks handle monetary emergencies, like traditional “runs on banks”.  Just how long does the Basel Committee on Banking Supervision think the economy will suck?  The new tighter control on money will be implemented in phases, becoming fully in effect in 2018.  Mmmm, it’s 2011 now, uh oh!

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

What Economic Recovery? Idaho Micron says demand for computer chips anemic

Idaho based Micron is reporting a drop in demand for computer chips.  One semiconductor analyst calls it “anemic”.

Micron reports sales are down, even though profits are up 4%, from the previous quarter.  How did they make a profit?  Officially Micron calls it ‘reduction in manufacturing costs’.  That means workers got laid off, in fact since 2008 more than 2000 Micron employees lost their jobs.

When you compare net revenues, year to year, Micron still lost money.

 

International, U.S.

Syria moves troops to border with Turkey, U.S. issues warning, Turkey massing troops

So what if Obama is actually going to withdraw troops from Afghanistan, they’re just going to be used somewhere else.

In response to continued attacks against Syrian police and army troops (three mass graves filled with hundreds of Syrian cops and soldiers have been found), and the fact that Turkey is allowing the build up of NATO forces on a Turkish air base, the Syrian government is massing troops along the Turkish border.

There are reports that Syrian forces attacked impromptu refugee camps along the border.  The United States is warning Syria that their actions could escalate the situation (as if that isn’t what the U.S. wants).

“Unless the Syrian forces immediately end their attacks and their provocations that are not only now affecting their own citizens but (raising) the potential of border clashes, then we’re going to see an escalation of conflict in the area.”-Hillary Clinton, U.S. Secretary of State

The Syrian refugees fled into Turkey.  Last week Turkey said it could handle the refugee situation, up to a point.  A Turkish official said they could handle about 10,000 refugees, if the refugee situation escalated beyond that Turkey would have to take action (the official didn’t specify what “action” would be taken).

According to a BBC report, Turkey (a member of the U.S. led NATO) is now massing troops on the border.

Business/Economics, International, U.S.

Obama’s order to release U.S. oil reserves is BS, 27 other countries to release oil reserves is also BS, blame war on Libya

All indicators are that global demand for oil is going down, despite the oil “experts” continuing to say it’s going up.  The fact that oil and gas prices are going down is proof of the decrease in demand.  One study says oil should be at $70.00, based on actual consumer demand.

Yet President Barack Obama, and 27 other members of the International Energy Agency, are ordering the release of their respective strategic oil reserves.

The official reason the Obama administration gives, is to ease the supply problems with oil from Libya.  First off, the U.S. is a minor user of oil from Libya, secondly the U.S. is partly to blame for the oil supply problems in Libya!

The U.S. uses about 1% of oil produced in Libya, according to a USA Today report.  The U.S. has been supporting rebels who destroyed Chinese run oil fields in Libya, according to the Chinese government.

As I’m writing this U.S. crude oil prices are at $91.00 per barrel.  Why release U.S. oil reserves now, and not back when it was more than $100.00 per barrel?

Here something interesting; the U.S. Department of Energy reports that the strategic oil reserves are at record highs, 727 million barrels to be exact.  Why would that be? Because demand is down?

The IEA (not to be confused with the United Nations IAEA) is made up of 28 oil consuming countries, including the United States.  The decision of the IEA to release 60 million barrels of oil reserves, is to benefit the countries that get most of their oil from Libya, ie Europe.  One report showed that almost all of Italy’s oil comes from Libya.

In other words, Obama’s decision to release U.S. strategic oil reserves is for the benefit of the Europeans, not the United States!

It is also totally because of the U.S. supported European war on Libya, the aggressors (U.S. and Europe) brought it upon themselves.

 

 

 

Business/Economics, Idaho, U.S.

Idaho Personal Income report misleading, wages & construction down again

Idaho media reporting an increase in “personal income”.  The problem is that “personal income”, as reported by the U.S. Bureau of Economic Analysis, includes things the average person does not consider “personal income”.

What government officials consider “personal income” includes unemployment benefits, business investments, business profits, farm profits, construction profits and government payments, besides individual wages.

The report for the first quarter of 2011 shows an increase.  But that’s due mainly to business profits, investment returns and farm profits.  When you look at wages for workers, it went down.

Also, income from construction in Idaho also fell, for the 3rd straight quarter.

If your wondering how businesses keep showing a profit, it’s because they’ve been laying workers off, or not hiring when they should!

Business/Economics, Idaho, U.S.

What Economic Recovery? Bannock County, Idaho, jacks up property taxes on farmers, by 90%

“We’re trying desperately to hold to these farms and we are paying our share. And if we haven’t been paying our share, it’s because assessors haven’t been doing their job.”-Grant Olson, wheat farmer

In a surprise announcement, Bannock County officials said they messed up and failed to properly assess farmland.  They will now hit farmers with a property tax bill that’s at least 90% higher than last year!

Grant Olsen, a farmer in Robin, Idaho, says his tax bill has gone up year after year.  Olsen is highly suspicious of the county’s reasons: “They say the reassessment hasn’t been done for 10 years, and now they have to obey the law. Why haven’t they been obeying the law?”

As a resident in Bannock County I can say that property taxes have gone up yearly, even with the decline in residential property prices.  When I’ve complained to the assessor they’ve blamed increased fees due to the passage of school levees.  That’s part of the problem, but the specific “property” tax has gone up as well.

County officials told the public that they would provide a better explanation of why they have to increase farmland property tax so much.  Bannock County has a reputation for having higher than average property taxes.


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

What Economic Recovery? Idaho can’t comply with No Child Left Behind, no money

Idaho Superintendent of Public Instruction, Tom Luna says No Child Left Behind (aka Adequate Yearly Progress, AYP) is actually stopping states from improving student’s academic performance: “The law has become a stumbling block to continued improvement in raising student achievement.”

The main reason that AYP is a stumbling block is that states are required to pay for efforts to comply with higher standards set by the Federal program.  Luna officially told the U.S. Department of Education that Idaho will not comply with AYP standards, until it is revised to help states do so.  Idaho, among many other states, does not have the funding to meet AYP standards: “We don’t have the luxury of time and resources to continue on with the federal law that should have been rewritten four years ago.”

The problem is that Idaho’s education system is already lagging behind most of the United States, in performance and funding.  So even if AYP is revised it’s highly unlikely that Idaho can comply.