Tag Archives: u.s.

Business/Economics, International, U.S.

World Bank & IMF not happy about economic situation

“We are one shock away from a full-blown crisis.” Robert Zoellick, World Bank President

The World bank is run by the United States, and if the current situation within the U.S. is any sign, then the world economy, influenced by the World Bank, is in trouble.

The International Monetary Fund is worried as well: “Especially because of youth unemployment… there is now a risk that this will be turned into a life sentence, and that there is a possibility of a lost generation.”-Dominique Strauss-Kahn, IMF chief

One analyst says fiscal and monetary policies might actually make things worse: “What they do is they very often pressure government to adopt what we call pro-cyclical policies. The economy’s weak and in recession, they want them to cut spending or raise taxes. And that can be very dangerous, I mean you can slip back into recession, you can make a recession worse.”- Mark Weisbrot, Center for Economic and Policy Research

Officials with the World Bank, and the IMF, say food prices, citizen security, justice and jobs, are the main issues for international economic stability.  Yet history shows that the policies of the IMF and World Bank actually cause some of the problems: “The International Monetary Fund and the World Bank say that they are interested in reducing poverty. All their actions however said otherwise. Their actions have instead raised the poverty level and created under-development.”-Andrew Garvin Marshall, Center for Research on Globalization

The president of the World Bank has always been a United States citizen, since 1944.

Business/Economics, U.S.

Economic Recovery? More Lies from the Lying Liars

“GDP that stems from new debt — mainly deficit spending — is phony: it is debt-financed consumption, not prosperity. Net of deficit spending, our prosperity is nearly unchanged from 1998, 13 years ago.”-Rob Arnott, Research Affiliates

Arnott says the Democrats and Republicans are to blame.  They continue to play games with the voters/taxpayers.  While tax revenues have steadily dropped since 1998, because of a bad economy, both major political parties just spend spend spend.

Yes, Arnott says the declining economy started back in 1998, it just didn’t impact the system until 2007, when the housing bubble burst.  One reason the Federal Government is having a problem with its spending is that our elected officials think our incomes are up, and as a result, tax revenues should be as well.  But they’re not; Arnott says tax revenues are at 1994 levels.

Arnott says part of the problem with the politicians is that current economic  statistics are flat wrong.  Economic stats, showing consumer spending and GDP, include deficit spending. In other words, credit cards and loans are being used to make it look like the average person has money.  And this has been going on for a while.

By using purchases made with credit cards, or loans, it makes it look like people have money, and that the economy is good.  These stats are used by our politicians to justify spending tax payer money.

When you throw out the debt spending by consumers, the real GDP figures show we’re stuck in the 1990s.  Arnott calls GDP minus debt spending “structural GDP”.  Also, he says government spending is another misleading factor used in GDP stats.  He says that should be left out as well, only private sector GDP should be looked at, and it’s not pretty.

Another analyst, Max Fraad Wolff, says historically countries go down the drain when their government debt gets close to its GDP levels: “We are approaching national debt on par with the total GDP of the country. This is very serious because most economic research suggests that countries tend to decelerate in their growth and have more and more severe economic problems, once their debt-to-GDP ratio gets above about 90 per cent. And we’re about to go through that level.”

Business/Economics, International, U.S.

Iran threatens higher oil prices, says “No way will it fall below $100”

“Iran can have an effect on world energy and fuel. Fuel prices will go up dramatically. If sanctions are not removed, particularly sanctions against banks and other economic sanctions, the price of oil will go above $150 a barrel.”-Mahmoud Bahmani, Iran’s central bank

A top U.S. Federal Reserve official said that gasoline prices above $4 a gallon would throw the U.S. economy into another recession.

Iran is the world’s third-leading oil exporter, and thanks to U.S. backed sanctions, has just expanded their own oil refining abilities, now making them an exporter of gasoline as well.

On top of any threats of increased oil prices, Iranian oil Minister Massoud Mir-Kazemi, said factors remain that will ensure that oil prices will continue to go up, regardless of how much oil is pumped out of the ground: “The price of oil depends on two things: First, the fundamentals, including supply and demand, and then the political, psychological and unforeseen elements. Based on these factors, oil prices should increase again by end of the year.”

 


Fukushima, Idaho

Idaho Robots run into trouble in Nuke Plant

Tokyo Electric Power Company says high radiation levels, and high humidity, is slowing up robots being used to inspected the reactor buildings at Fukushima Daiichi.

In Reactor 2 building the humidity was so high it fogged the robot’s camera lens.

In Reactor 3, there is too much debris from the hydrogen gas explosion.  They will use another robot that can clear the debris, some of which weighs 100kg (220 pounds).

 

International, Opinion, U.S.

Obama increasing College funding…in China!!!

So you voted for Barack Obama because you’re hoping to go to college, but can’t afford the skyrocketing costs.  You thought Obama was going to help you pay for college?  You’re right, if your going to college in China!

Last week Secretary of State, Hillary Clinton, announced that the U.S. State Department will spend U.S.$3 million on scholarships for study in China.  On top of that First Lady Michelle Obama announced that they have convinced U.S. corporations to help fund U.S.$3.25 million for the “100,000 Strong Initiative”.   Those corporations include Caterpillar, Citigroup and Coca-Cola.

The program is in addition to the usual Fulbright scholarship program.

So now even college students are being shipped off to China!   I guess it makes sense, you know, follow the jobs.

International, U.S.

New Chinese Water Torture, dumping U.S. bonds a little at a time

For the fourth month in a row, China is selling off its U.S. Treasury bonds (U.S. Sovereign debt).  China is the biggest holder of U.S. bonds, but since February, they’ve been getting rid of them, a little at a time.

So far the Chinese have sold U.S.$600 million in U.S. bonds, that’s according to the U.S. Treasury.

Japan has the second biggest holdings of U.S. Treasuries, but there is concern that Japan will sell them off, to help pay for rebuilding after the March 11 disasters.

International, U.S.

German reporter banned from U.S. due to investigation of U.S. Official kidnapping children

“It seems to me that the attitude of the State Department has to do with my investigations in the U.S. National Archives.”-Gabriela Weber, investigative journalist

Gabriela Weber, known for investigating NAZI war criminals in South America, has followed a trail of illegal child adoptions right to the United States government.  And that has gotten her banned from entering the U.S. legally.

Weber discovered that U.S. embassy officials were involved with illegal adoptions of children belonging to people who were “disappeared” during Argentina’s “dirty war“.

U.S. officials refuse to comment on the grounds it would violate the privacy of those who were “adopted”.

Weber claims that she has evidence directly linking former U.S. military attache William Desreis to the illegal “adoptions” of Argentinian children, whose parents were “disappeared” by the military dictators of Argentina, at that time (1976-1983).

Weber tried to go to the United States in 2010, to follow the trail, and confirm her findings in Argentina, but she was thrown out after only seven hours, even though she had proper visa documents.

Fukushima

Japan nuke workers suffer Heat Stroke!

Tokyo Electric Power Company will now put air conditioners in the worker’s rest stations,  after at least one worker succumbed to heat stroke.

Temperatures inside their protective suits are hot after only 30 minutes of wearing them.  Unlike some military NBC masks, that can allow you to drink water, the nuke suits used at Fukushima Daiichi do not allow the workers to drink water.

There is only one building on the compound that still has working air conditioning.  TEPCo will bring in more air conditioning units.

Fukushima

TEPCo testing for Plutonium in Pacific Ocean!

Tokyo Electric Power Company officials say they will test the ocean for plutonium.  They have already found soil samples to be contaminated with the toxic isotope.

TEPCo official Matsumoto Junichi says because plutonium was found in the ground around Fukushima Daiichi, then it’s possible it is getting into the ocean.  They will check the ocean floor, because plutonium is heavier than other isotopes, and probably sank.

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

Former U.S. official says don’t blame China for U.S. economic problems, yet

“If we didn’t import from China, we’d import from somewhere else.”-Henry Paulson, former U.S. Treasury Secretary

Henry Paulson is saying that if U.S. corporations didn’t have China to ship jobs to, they’d ship off U.S. jobs somewhere else.  He, and others, believe that by shipping off U.S. jobs to other countries, it helps to keep inflation down.

Of course it does, because that means less people working which brings down consumer spending which helps keep inflation down.  Inflation traditionally goes up when the economy is good and people spend more money, which is what is happening in China right now.

There is worry that the fast growing inflation in China could spread to the rest of the world.  For those countries whose economies are in trouble it’s not a good thing: “If China has problems, our problems would be more difficult.”-Henry Paulson