Tag Archives: g7

Business/Economics, Idaho, Technology

Idaho’s ‘woke’ Micron: Escalating the ‘war’ with China & speculator profits in New York! Is it all about global A-I?

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Here is an incomplete list of links to the latest reports, as of 24MAY2023, about the growing global influence of Idaho’s ‘woke’ Micron Technology:

PEOPLE’S REPUBLIC of CHINA: Documents reveal China had already been dumping Micron chips in favor of chips made in the Republic of Korea (RoK, aka South Korea), for years!

China claims ban on Micron is justified, blames Biden:

REPUBLIC of KOREA:  Samsung and SK Hynix consider expanding chip making operations now that China has banned Micron!

UNITED STATES:

Idaho: Political leaders from New York spend time at Micron’s Boise, Idaho, mega-campus!

College of Western Idaho (CWI) shows New York TV news station how they prep people for work at Micron, TV news station reveals that Micron helped create CWI:

NATO’s G7 meeting reveals new ‘Upwards for the Future’ deal between Boise State University, Japan and Micron! Is it all about supporting global Artificial Intelligence:

Idaho Senator complains about China’s ban on Micron:

Indiana: Purdue University signs landmark U.S.-Japan-Micron agreement at NATO’s G7 summit!

New York: Texas based property speculators buy abandoned country club, in order to profit off the yet to be built taxpayer subsidized mega Micron operation!

Micron executive explains to local TV news station how the yet to be built mega operation will benefit local governments:

21MAY2023: CHINA DECLARES WAR ON IDAHO’S ‘WOKE’ MICRON?

2022: Micron officially goes ‘woke’, suddenly gets big taxpayer funding!

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? Group of 7 decide to answer the U.S. debt problem by flooding markets with liquidity, won’t that create Hyperinflation?

The European Central Bank, and the Group of 7 top industrialized countries, decided to deal with the credit rating downgrade of the United States by flooding international markets with liquidity.

Liquidity=cash and bank deposits.

One of the problems with this recession is that banks, and other financial institutions as well as big corporations, have been money hording.  Lending has not taken place as President Obama had hoped (at least to small businesses and individuals).  The result is that the ‘big guys’ have a lot of liquidity sitting around doing nothing (by the way something like this happened right before the Great Depression).

Now the international community has decided to flood the international markets with that liquidity.

So far we’ve seen inflation, albeit a mild inflation for most of the world, but get ready to see inflation like you’ve never seen before when all that money hits the markets.  You see, when there is a lot of money available to buy a lot of things, it automatically drives up prices.

Some people might think the stories of Germans using wheelbarrows full of cash to buy a loaf of bread, during their Hyperinflation of the 1920s (which helped lead to the Great Depression in the United States), is just an exaggeration.  It is not.  I’ve read the accounts, and I’ve even seen silent newsreels showing people lining up with wheelbarrows full of worthless Deutschmarks at bakeries.

This happened because the Weimar government thought by printing more money, in essence flooding the public with liquidity, that people would be able to buy the products they needed, products that were already experiencing inflation.  The flooding of money into the German consumer market made the situation worse, creating hyperinflation.

The following is from Wikipedia, on hyperinflation: Hyperinflation becomes visible when there is an unchecked increase in the money supply… also… Hyperinflation is often associated with wars (or their aftermath), currency meltdowns, political or social upheavals, or aggressive bidding on currency exchanges. Mmmm, sound familiar?

 

 

Business/Economics, International, U.S.

What Economic Recovery? Emergency World meeting over U.S. credit downgrade, China says no more U.S. dollar, Germany says finally the U.S. gets what it deserves

“The U.S. government has to come to terms with the painful fact that the good old days when it could just borrow its way out of messes of its own making are finally gone.”-Chinese government/media commentary

The European Central Bank will hold an emergency meeting on Sunday, August 7.  The issue; the credit rating downgrade for the United States.

Finance ministers and central bankers from the Group of 7 major industrialized nations will meet by telephone on Sunday.  The broader Group of 20 were due to hold a conference call Saturday evening.

China and Japan are calling for coordinated action to avoid a new worldwide financial crisis.  One issue that’s being looked at is whether the world can continue to use the U.S. dollar as a reserve currency: “International supervision over the issue of U.S. dollars should be introduced and a new, stable and secured global reserve currency may also be an option to avert a catastrophe caused by any single country.”-Chinese government/media commentary

Another issue to be discussed is the amount of secure debt versus risky debt: “It will weigh on secure assets. The bigger reaction will be on risky assets, including equities and on agencies and states backed directly by the federal government. U.S. Treasuries will remain a benchmark. This is a ship which takes a long time to turn around.”-Ciaran  O’Hagan, Societe Generale in Paris.

Germany, the economic powerhouse of Europe, says it’s about time the U.S. got what it deserves: “I’m not surprised about the U.S. rating downgrade, rather I am astonished that, for weeks, international rating agencies have focused their attention on the European debt situation but not the American one. For a while, there have been clear worries about America’s economic woes but also the fact the U.S. is heavily indebted.”-Norbert Barthle, a budget expert for German Chancellor Angela Merkel’s conservative party