All posts by Hutchins AAron

Born in Deutschland 1965, hometown was Bütthart, parents were not U.S. government employees. However, when father was tricked into joining the U.S. Air Force Civil Service, in 1969, with the promise that we could remain in Germany, we were promptly shipped off to Iran. Due to one of my Iranian educators being disappeared, along with her husband, by the U.S. ally Shah of Iran's Israeli & U.S. created Savak (for the then official terrorist act of promoting the idea that women can vote), and due to my U.S. citizen mother being placed on Savak's Terrorist Arrest List (for supporting the idea that women should vote, at that time the U.S. ally Shah of Iran did not allow women to vote, now they can) we left Iran for the United States in 1973, literally in the middle of the night. At the U.S. Embassy airbase the CIA operated Gooney Bird (C-47) was so packed with other U.S. citizens fleeing our ally Iran (because the Shah gave the OK to arrest any U.S. citizen for such terrorist acts as promoting the concept of voting) that we were turned away by the Loadmaster and had to take a chance on a civilian flight out of Tehran's airport. My father told me he and my mother had three culture shocks; first when they arrived in Germany as civilians, then after being shipped off to Iran as U.S. government employees, then again returning to the United States as unemployed civilians (because so much had changed in the U.S. while they were gone, their only news source was the U.S. Armed Forces Radio & Television Service which heavily censored information about the home front). Since I graduated high school in 1982 I've worked for U.S. government contractors and state & local government agencies (in California), convenience store manager in California, retail/property management in Georgia, California and Idaho. Spent the 1990s in the TV news business producing number one rated local news programs in California, Arizona and Idaho. 14+ years with California and Idaho Army National Guard and the U.S. Air Force. Obtained a BA degree in International Studies from Idaho State University at the age of 42. Unemployed since 2015, so don't tell me the economy has recovered.
Business/Economics, U.S.

What Economic Recovery? Bank failures continue, now it’s local banks going down

Already for 2011, 43 banks have failed.  According to the FDIC, 157 banks failed in 2010, 140 failed in 2009, 25 in 2008 and only 3 in 2007.  Notice a trend?

According to Forbes, the U.S. banking industry has, for the first time in 27 years, reported a drop in revenue.  Down 3.2% for the first quarter of 2011.

It’s interesting that the Federal Deposit Insurance Corporation claims no banks failed in 2005, or 2006.  U.S. media have incorrectly stated that until 2006 there were no failures (Washington Post), but the FDIC list shows there were several bank failures every year from 2000 to 2004.  For some reason 2005 & 2006 had none.

The concern for 2011 is that the bank failures are hitting local community banks harder, instead of the larger regional and national banks.  One reason could be that the bigger banks got bailout money from the Federal Reserve, and U.S. taxpayers.  The local banks did not.

However, the Wall Street Journal is reporting that 98 banks that got bailout money are on the verge of failing.

 

Business/Economics, U.S.

What Economic Recovery? U.S. home foreclosures hit record levels year after year

Reality Trac says U.S. property foreclosures hit 3.82 million in 2010.  A record.

It’s a continuing trend since 2006. The percentage of foreclosure filings just keeps going up: 2.23% of all U.S. housing units received at least one foreclosure filing during 2010.  2.21% in 2009.  1.84% in 2008.  1.03% in 2007.  0.58% in 2006.

The top five states for foreclosures in 2010 are: California, Florida, Arizona, Illinois and Michigan.

International, U.S.

Iran names 26 U.S. officials in Human Rights violation sanctions

On May 24, Iran issued a list of 26 officials from the United States that violated international Human Rights laws.

The list includes: Commander of U.S. forces in Iraq Raymond Odierno.

USS Vincennes Captain Will Rogers III.

Former FBI chief Thomas J. Pickard.

Former commander of the U.S. detention facility at Guantanamo Bay, Geoffrey D. Miller.

Current Guantanamo commander Rear Admiral Jeffery Harbeson.

Former Secretary of Defense Donald Rumsfeld.

Former U.S. US administrator in Iraq Paul Bremer.

Former U.S. Army General Tommy Franks.

Iran is joined by Amnesty International, and the UN Human Rights Council in condemning the growing evidence human rights violations committed by the U.S., both outside and inside its borders.

 

International, U.S.

Venezuela to break U.S. oil sanctions with Iran, will cancel oil shipments to U.S. instead

On May 24, the United States imposed new oil sanctions against Iran, and that includes Venezuela’s state controlled PDVSA oil company.

Syria, Iran and Venezuela co-own an oil refinery in the Syrian state of Homs.

Venezuela’s Energy Minister Rafael Ramirez, says they have a right to do business with whomever they wish: “This is a right we are not going to renounce.”

On May 25, Venezuela’s Foreign Minister Nicolas Maduro, announced that plans were underway to stop exporting oil to the United States: “There are several proposals that are being evaluated by President Chavez to respond to the United States’ imperialist pretensions.”

International

Karzai slams U.S.; says Iran, not the U.S., is more trustworthy

“Afghanistan places greatest trust in Iran, and the aid by the Islamic Republic of Iran for the reconstruction of Afghanistan has been practical and operational.”-Afghan President Hamid Karzai

On May 25, Karzai met with Chairman of the Iranian Parliament National Security and Foreign Policy Commission, Alaeddin Boroujerdi.

Boroujerdi said Iran is ready to help Afghanistan become independent of the Untied States.  Iran has already helped with construction, and is the main supplier of refined fuel to Afghanistan.

International, U.S.

German bank continues violating sanctions against Iran

European-Iranian Trade Bank AG (EIH Bank), based in Hamburg Germany, says it will not abide by European Union sanctions against Iran.

Earlier in the week the EU froze the bank’s assets.  Bank officials say it will not stop them: “Nothing has changed; the same Bundesbank office which approved our transactions during the investigation will continue to approve our transactions under sanctions.”-Norbert Eisenmenger, EIH finance and marketing

Last year the United States blacklisted the EIH bank, saying the bank was providing financial services for other banks doing business with Iran.

Business/Economics, International, U.S.

Surprise; China does not own the United States

“China’s hold or ownership is only 8 percent of our outstanding debt and in no way does China’s position influence U.S. foreign policy.”-Gary Locke, U.S. Commerce Secretary

The United States Commerce Secretary made the statement while being interviewed by the Senate Foreign Relations Committee, for the job of U.S. ambassador to China.

Locke says the majority of U.S. government debt is held by…U.S. domestic investors.  Find out who they are and you’ll know who the real shadow government is.

Fukushima

TEPCo discovers radiactive waste water storage leaking also

In another example of corporate leadership not thinking things through, Tokyo Electric Power Company has discovered that the buildings it’s been using to store highly contaminated water in are leaking.

TEPCo was using the buildings to store contaminated water that leaked into the basements of the reactor buildings, and contaminated water from reactor cooling systems.  Even though TEPCo claimed it has stopped the massive leaks from the reactor buildings, contaminated water continues to pour into the Pacific Ocean.

On Friday, 27 May 2011, TEPCo discovered that the buildings used to store contaminated water are leaking.  They will now stop transferring contaminated water and try and plug the leaks.

TEPCo admits they know the buildings are damaged, and they failed to plug any leaks before transferring the contaminated water!

Business/Economics, U.S.

GAO study shows U.S. companies that get taxpayer money owe $750 million in back taxes

The Government Accountability Office released a study that showed that some of the government contractors that got paid with taxpayer “stimulus” money, don’t pay taxes.

The GAO says 3,700 contractors who got stimulus money, owe back taxes.  That’s about 5% of the contractors that got the taxpayer money.  Some of the contractors that avoided paying taxes include construction companies and companies that specialize in social services.

While 5% may not seem like much, the GAO says that 5% owes $750 million in back taxes.

 

 

 

Business/Economics, International

Don’t be fooled by news of Chrysler paying off its government debt

The U.S. media is talking about Chrysler’s announcement that it plans to pay off the U.S. and Canadian government loans.  It is not a sign of a good economy, because the loans are not being paid off with profits.

Chrysler’s pay off is coming as a result of more loans.  The Auto maker has decided that it does not want to keep paying the high interest rate of the government bailout loans, so it has refinanced through private banks.  In other words Chrysler is still in trouble.