The Federal Reserve Bank, a privately run bank established by Congress, feels better about the economic recovery. Why? They made a $81.7 billion profit in 2010.
The Federal Reserve makes profit by charging interest on the money it loans to other banks and financial institutions. It can also make money buying and selling U.S. bonds.
As we’ve seen over the past year, many big banks reported profits. Now the Fed is reporting big profits. In other words the economy is good if you’re in banking.
Mayors of several Japanese townships, hit by the 9.0 quake/tsunami, are considering the reality that the survivors of their towns will have to relocate, especially those being affected by radiation contamination from the Fukushima Daiichi nuclear plant.
Survivors told reporters that they are now “drifters” because everything was destroyed; they have no homes, no jobs. Some have pointed out that they have no money because the local banks were destroyed. Another problem is documentation, survivors have lost any type of documents that they would need.
There are a lot of examples of how Japanese government officials failed in their reaction to the 9.0 quake/tsunami. The Yakuza even made a show of their own fast disaster relief response.
However, even the Yakuza are no match for Mother Earth. Yakuza leaders are admitting that they are having trouble getting to the hardest hit areas, just like the government: “Because of the devastation, it’s been impossible to make contact with our people in Miyagi, Iwate and Fukushima prefectures. We haven’t been able to make contact by telephone, and in some cases, damage to the roads made it impossible to get through to the towns.”
This is proof that the 9.0 quake/tsunami was truly catastrophic.
People who just have to have a hybrid car will be glad to know that Toyota plans to start making them again.
Toyota’s hybrids are made in Japan, and production was shut down due to parts shortage (thank Mother Earth, 11 March 2011 quake-tsunami). They plan to resume production on Monday.
Production of non-hybrid Toyota vehicles, made in Japan, remains halted.
Some farming villages that escaped the tsunami, did not escape radiation from Fukukshima Daiichi nuclear plant.
What has people amazed is that these farming villages are outside the government’s 30km nuclear disaster zone.
Soil samples have revealed that radiation levels are more than 1,000 times normal. Wind and rain is suspected for bringing the radiation outside the 30km zone.
This is proof that nuclear disasters affected far greater areas than what most people think. This will just add to the world’s growing food supply problems.
TEPCO officials report more problems with trying to get their nuclear plant under control.
Reactor 2 continues to emit more and more radiation. Officials are unable to find out why, because radiation levels are so high that no one can go near the reactor.
Several works have been sent to the hospital because of exposure to high radiation. One worker is said to have “Beta Burns”. At least two workers were standing in radioactive water in reactor 3, trying to connect power lines. The water contains radiation levels as high as 180 millisieverts.
Despite the fact that Fukushima Daiichi nuclear plant is built on the coast line, TEPCO, and government officials, dismissed concerns over possible tsunami.
Seismologist, Okamura Yukinobu, warned of a debilitating tsunami in June 2009. He also requested that nuclear plant disaster plans be reviewed for tsunami readiness.
Japanese officials dismissed his request because they did not think a tsunami was a threat.
Tanaka Mitsuhiko is an engineer who helped build reactor 4’s containment vessel in 1974. Tanaka says he helped hide a defect in the steel used to make the containment vessel.
Reactor 4 at the Fukushima Daiichi was shut for maintenance when the March 11 quake triggered a tsunami that lead to explosions and radiation leaks.
Tanaka has called reactor 4 a “time bomb”.
NHK reporting that their helicopter crew confirms that there is white smoke come from reactors 1, 2, 3 & 4. This is the first time smoke has come from reactor 1.
Cabinet Secretary, Yukio Edano, announced that reactor 1 is showing pressure increase, even after temperatures were brought down with water. The problem now is that every time they inject water into the cooling system it results in higher pressure in the containment system, which is also bad.
Toyota announced that if the supply problems in Japan continues it will be forced to close plants in the U.S., Canada and Mexico.
Toyota continues to delay restarts of its plants in Japan, for the same reason.
Toyota has already cut overtime work at its North American plants.
Today’s announcement is meant as a warning, so North American plant officials can prepare.