Category Archives: Business/Economics

Business/Economics, International, U.S.

Occupy the World! Forget the 1%, what about the 0.000003% who control most of the World’s wealth?

Three millionths of a percent, that’s how many people throughout the world actually control the majority of the wealth.

According to a survey by Wealth-X (a Singapore based company that serves the interests of the ultra-rich, it says so on their web site) most of the world’s wealth is held by only 0.000003% of the people!

Ultra high net worth (UHNW) individuals are people with $30 million or more in assets.  That means real wealth, not wealth that’s ‘on paper’.  Wealth-X says there are only 185,795 UHNW people globally!  Of that, only 1,235 people are true billionaires!

Wealth-X breaks it down for the United States: 57,860 UHNWs, 455 of which are true billionaires. This means that of the 1% in the U.S., 1/54th controls 13.5% of the country’s wealth!

For Europe there are 54,325 UHNWs, in Asia there are 42,525 UHNWs, and 15,100 UHNWs in Latin America. Interestingly there’s nothing about ultra wealthy in Africa or the Middle East.

The Wealth-X survey is titled A Wealthy Head Count.


Business/Economics, Technology, U.S.

It’s official, the people of the United States are Crazy! 1 in 5 on mental health drugs!!!

Medco Health Solutions Inc., says the use of drugs, in the U.S., for psychiatric and behavioral disorders rose 22% from 2001 to 2010!

But that’s an overall percentage, the numbers get worse, and more revealing, when you look at specific drugs, conditions, gender and age groups.

1 out of 4 U.S. women are using mental health drugs, the majority are women older than 45.  But there is a alarming trend of increased use among men and and young adults.

More than 20% of U.S. adults used drugs for conditions like anxiety and depression, in 2010.  The study saw a big increase in the use of drugs to control ADHD, especially in adults!

There was a 150% increase in the use of ADHD drugs among people aged 20 to 44 between 2001 and 2010, and a doubling among women in the 45-to-65 group!  I wounder if this has anything to do with the fact that many ADHD drugs are related to ‘speed’?

ADHD drug use in the over 65 age group increased about 30% for men and women between 2001 and 2010!  Are ADHD meds being used to treat memory problems typically associated with old people?  Can you say incompetent doctors grasping at straws?

The Medco study was based on the number of prescriptions issued between 2001 and 2010.





Business/Economics, International, U.S.

World War 3, What Economic Recovery? U.S. Defense Secretary says war with Iran will destroy World economy, yet Israeli officials say the World should attack Iran anyway

“I have to tell you… there are going to be economic consequences to that, that could impact not just on our economy but the world economy.”-Leon Panetta, Defense Secretary of the United States

Despite the warmongering rhetoric coming from the White House, and Capitol Hill, U.S. Defense Secretary Leon Panetta is warning of an economic Armageddon scenario if the ‘West’ attacks Iran.

Panetta made the remarks a day before going to Canada, to discuss the very plan to attack Iran with Israeli Defense Minister Ehud Barak.

Meanwhile, Ehud Barak is trying to fan the flames of warmongering by claiming that Iran’s alleged, and unproven, nuclear weapons program is targeting the whole world: “In order to do this we must convince world leaders and the public that the Iranian nuclear program is not only targeting Israel, but the foundations of the entire world order as well.”


 

Business/Economics, U.S.

Occupy California! United Police States of America: California cuts $600 million from social programs, but adds $600 million for new prisons! More proof that the United States will become a giant prison planet

“It’s appalling that while the state is poised to cut another $600 million from already suffering essential programs, including In Home Supportive Services, Medi-Cal, child care, and universities and community colleges, they are forcing forward $600 million to build unnecessary jails. In order to make California a place where everyone can thrive, we need to raise revenues and reduce prison spending immediately!”–Nancy Berlin, the California Partnership

“Whether we’re talking about revenue or spending, it comes down to priorities. If decision makers in California continue to prioritize imprisonment over education, over healthcare, over the things that make our communities healthy and sustainable, then social and economic crisis will continue to deepen and the forecasts are going to get much more bleak!”-Emily Harris, Californians United for a Responsible Budget


Business/Economics, U.S.

Occupy Detroit! Officials say City workers need to make more sacrifices, City workers say it’s the Officials who are sucking up all the money!

“Simply put, our city is in a financial crisis, and city government is broken. That’s not new. That’s not an opinion. That is a fact.”-Dave Bing, Mayor of Detroit

Detroit is going bust, and the city leaders are taking it out on the city employees.

City leaders want employees to take a 10% cut in pay, and pay 10% more for their health benefits.  City workers responded by pointing to the fact that there’s too many high level salaried vampire officials sucking up all the money: “The problem isn’t us, it’s the layers and layers of management that should go!”-Catherine Phillips, government employees’ union

Business/Economics, International, U.S.

Corporate America Incompetence: Toyota opens new U.S. factory, two years behind schedule, blame Wall Street

A new Toyota factory opened in Blue Springs, Mississippi.  Company officials hope sales of Corollas goes up enough they can produce 150,000 new Corollas every year.

They also hope no more parts supply issues will hamper U.S. production.

The Mississippi plant could employ 2,000 people, and is the 14th Toyota factory in North America.

The factory was supposed to open more than two years ago, but the credit crisis hit Toyota’s financing for the construction, which caused the delay.  Toyota officials specifically blamed the Lehman Bros. scandal.  Thanks Wall Street!

 

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

Corporate Incompetence: Olympus scandal deepens as company officials destroy documents, investigators say lost money went to organized crime, U.S. investor sues

“Olympus was exploited over its cover up totaling losses of 50 billion yen, and since 2000, over 200 billion yen has disappeared into the underground economy.”-leaked Japanese government memo

The New York Times claims to have seen an official memo, from Japanese investigators, which says it is highly likely that the fraudulent investment schemes that Olympus optical company was part of, were done for organized crime.

Investigators say U.S.$4.9 billion of the money Olympus invested, are unaccounted for! This is far more than initially reported.

This info comes as NHK reported that Olympus officials held a press conference in which they swore they were reforming their policies, and that they really are going to make money this year.

But that doesn’t help the fact that a new unnamed source says what we’re hearing is just the tip of the iceberg, because for years Olympus officials destroyed data, to cover up losses involving foreign investments.

Here in the United States a major holder of Olympus securities is so fed up that he’s filed a lawsuit.  Lloyd Graham says Olympus violated the U.S. securities and exchange laws.  Graham holds Olympus securities specifically issued to the U.S. market, called American Depository Receipts (ADRs) of Olympus.

Graham says Olympus officials intentionally hid investment losses, and released false reports on the firm’s finances and earnings for at least five years.

 

Business/Economics, International, U.S.

Occupy the World! Greeks attack U.S. Embassy, Hundreds arrested in New York, Bank of America occupied in California, retired Cop says police work for the 1%!

“All the cops are just workers for the 1%…As soon as I’m let out of jail, I’ll be right back here and they’ll have to arrest me again.”-Ray Lewis, retired Philadelphia Police Captain

Don’t think the OWS movement is dead, thousands are trying to shut down Wall Street today, November 17.  Those thousands include health care workers, retired police officers and even investment brokers!

“The fact of the matter is, there is a schism between the rich and the poor and it’s getting wider.”–Gene Williams, bond trader

The NAZI NYPD physically attacked the protestors, so far more than 200 have been arrested.  At one point, when the protestors stared to sign the National Anthem, the NYPD blasted them with sound cannons.

Across the country, in California, at least 100 protestors were arrested after they tried to take over the Bank of America, California HQ, in San Francisco.  For awhile the protestors were successful, disrupting bank operations for about four hours.

In Greece, in what could be a revival of the anti-U.S. revolutionary movement, known as 17 November, thousands of Greeks attacked the U.S. Embassy.  In 1973 the Greek people overthrew the U.S. backed military government. Now they see what’s happening in their country as an attempt by the corporate world, specifically Corporate America, to take over their country again.

More than 20,000 people marched through central Athens, while another 12,000 protesters joined a rally in Greece’s second-largest city, Thessaloniki.  The Greek government called out 6,000 cops to handle the protests.

Thousands of Italians also took to their streets, to protest their new non-elected technocrat controlled government’s draconian budget cuts.  Italian college students tried to use firecrackers as weapons against the cops.

Transportation unions shut down Italian public transportation services for several hours.

 

Business/Economics, International, U.S.

Global Economic War: U.S. hospitals shipping medical waste to Brazil, calling it “Textiles”

“I hope that the United States is looking into this case, and the guilty party is properly punished for the crime against Brazil.”-Wilson Damasio, Social Defense Secretary of Brazil

Brazilian authorities have confiscated two containers with 45 tons of hospital waste from the U.S.  They say they have info that another 14 containers are on their way from South Carolina.  They are being illegally shipped as “cotton textiles with manufacturing defects”.

Inside the two containers were found used and bloodstained sheets, pillowcases, bath towels, robes, pajamas, diapers, syringes, hospital gloves, catheters, and bandages.

Brazilian officials are pushing for a formal complaint to be filed against the United States.

 

 

Business/Economics, U.S.

What Economic Recovery? Citigroup to layoff 3,000

The New York Times, and the Wall Street Journal, have been reporting that an unnamed source says Citigroup will layoff 3,000 employees.

Some employees have already been notified.

900 layoffs will take place in the banking and securities divisions.  The unnamed source says the number of laid off Citi workers could exceed 3,000 by next year.