Category Archives: International

Business/Economics, International, U.S.

No Economic Recovery for U.S.: Apple profits way up, it’s all about China, baby!

Apple Incorporated posted a huge 124% year to year profit, for the second quarter of 2011.  But most of those sales weren’t made in the United States.

Chinese consumers are going nuts for Apple products.  In fact, Apple’s 2011 sales in China are, so far, six times what they were in 2010.

Two reasons for Apple’s exploding sales in China: One is that scalpers were buying up everything in the stores, creating a shortage (and of course selling Apple products for much more).  The second reason is that Apple Inc is investing big time into China: “In the long run, Apple can likely increase its market share since it is gaining sales momentum by investing more resources into China, which it had not been doing previously.”-Kitty Fok, IDC Asia-Pacific.

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

What Economic Recovery? U.S. corporations put the brakes on investing into China, no money to invest

“Under such circumstances, both private U.S. companies and governments in different levels are not capable of investing significantly in China. Somehow they are looking for the investment from China to help them boost their own economies and low-employment rate.”-Zhang Qizuo, economist Chengdu University

The Chinese Ministry of Commerce says investments coming from the United States are way down, compared to last year.  It’s a sign of how bad the U.S. economy is, and the growing discontentment with U.S. citizens in seeing U.S. jobs go to China.

“Large-scale U.S. companies are also under domestic pressure in ‘giving jobs to Chinese’, therefore, they have to consider the feelings of approximately 14 million Americans and deliberately delay or even cut some investment plans in China.”-Zhang Shiqing, economist Nankai University

Overall U.S. investments in China dropped from January of last year, to June of this year, by a big 22.32%.  That’s a big drop, but in dollar amounts, the U.S. still invested $1.68 billion.

European countries, and other Asian countries, are still on the plus side of investing into China.

Another factor in the drop in U.S. investments is inflation in China, which includes the cost of labor.  Labor cost are going up in China, and in the U.S. labor costs are going down, no thanks to Union busting and high unemployment.

I can’t think that this is helping cut unemployment in the United States, after all there has been no change in the overall unemployment situation, even though there’s been a 22.32% drop in investments into China.  Despite what Chinese economist think, I think the real reason is that U.S. corporations, and government, have put the brakes on investing into China, is because they’re out of money to invest.

International, Opinion, U.S.

Evil Cops & Rupurt Murdoch: Scotland Yard boss quits, another arrest, was this more than just unscrupulous journalists wanting a scoop?

“I have taken this decision as a consequence of the ongoing speculation and accusations relating to the Met’s links with News International at a senior level.”-Paul Stephenson, Metropolitan Police Commissioner

The boss of the Met Police, aka Scotland Yard, announced he’s quitting.  A few days ago he acted like this thing with Rupert Murdoch’s various media outlets was minor, and involved only a few managers at various newspapers, and a handful of evil cops.  Turns out it’s much bigger.

Also, remember Rebekah Brooks?  She’s the former CEO of Murdoch’s News International, and a former editor of the News of the World.  A couple of weeks ago she acted like it was no big thing, then suddenly quit last week, but not before reportedly telling her underlings that things were going to get much worse.  Now she’s been arrested.

Brooks is the eighth person arrested in connection with the phone-hacking probe and the fourth arrested in the police bribery investigation.

What’s really troubling about this phone hacking scandal is that it might have been done with the help of the British police.  British cops were willing to take bribes to give out information to help Murdoch’s “fair and balanced” news organizations.  Why would cops be so willing to sell such information to the media, especially Murdoch owned media outlets?

Even here in the United States there is enough cause for concern that the FBI is investigating such Murdoch owned media outlets as Fox News, and the Wall Street Journal, for at least attempting to do the same thing here.  Also, the U.S. Department of Justice is now investigating.

Is the Rupert Murdoch’s media empire really just a huge covert spy agency?  Don’t think it’s not possible.  History shows that the U.S. Central Intelligence Agency (CIA), and British intelligence agencies (SS aka MI5, SIS aka MI6, etc) have set up fake corporations purely for the purpose of spying on people and governments.  Just one example; anybody remember the fake CIA transport airline “Air America”?

 

 

Business/Economics, International

What Economic Recovery? Chinese Housing Bubble about to explode: Property Loans halted

“You’d better prepare to pay 40% of your home price as down payment, because commercial banks are going to ask more for a property loan.”-Gong Hang, bank official

First the Chinese government created a new income tax schedule that meant more people were excused from paying taxes, but left them potentially unable to buy a home (due to not having the required tax documents).  Then they ordered down payments to be increased, or mortgage interest rates must be increased (some banks did both).  Now, banks are just flat refusing to issue anymore property loans.

In what’s called 2nd and 3rd tier cities, in China, banks are refusing to issue anymore loans for property: “We will not accept property loan applications at present, even if it is from a first-time home buyer.”-unnamed bank official

If you think paying 40% down on a home is outrageous, wait ’till you read this: 40% down is for first time home buyers, if you’re buying a home for the second time Chinese banks now want 50-60% down.

Bank officials say it’s because the Chinese government ordered banks to hold onto their money, by not lending it out.  This is an attempt to control inflation, which Chinese officials are fearing could get out of control.

 

Business/Economics, International, U.S.

Rupert Murdoch scandal hits the stock market, Dow Jones boss quits, FBI investigating possible phone hacks in the United States

One reason why the mainstream media is so into reporting the stock market; Rupert Murdoch owns the stock reporting company Dow Jones.  Tonight, July 15 U.S. time, the CEO of the Dow Jones quit.

Les Hinton, the boss of Murdoch’s Dow Jones & Co stepped down, as the British phone hacking scandal surrounding Murdoch’s News Corp spread to the United States.  The Federal Bureau of Investigation is now looking into similar acts here in the U.S.

Already the CEO of Murdoch’s News International, Rebekah Brooks, resigned.  Brooks was also the editor of the News of the World, the newspaper implicated in the scandal.

More and more British media outlets, owned by Murdoch, are being implicated for the same thing; phone hacking and bribing police and politicians for confidential information.  Murdoch’s News Corp controls a multitude of media outlets around the world, and he controls the Dow Jones.

Why did Les Hinton, the boss of the Dow Jones, quit?  It could be because he used to be the chairman of Murdoch’s News International, when all the alleged criminal acts took place.

British media has reported that Rebekah Brooks made an unofficial statement to employees of the News of the World, that things are going to get only worse, as more information about the goings on inside Murdoch’s News Corp are revealed.

A U.S. corporate governance analysts said the same thing, only officially: “There is going to be a constant drip, drip, drip of more information coming out that is simply going to get worse and worse.”-Nell Minow, GovernanceMetrics

 

 

International

Pacific Ring of Fire: 3rd volcano erupts on Indonesian island

For the third time this year, a volcano is erupting in Indonesia.  This time it’s the Mount Lokon volcano, on the same island as two other volcanoes; Sulawesi island.

This time at least 4,600 people were forced to evacuate.  In March, Mount Karangetang erupted, then on July 3 Mount Soputan erupted.  Mount Lokon, Soputan and Karangetang are all on the Sulawesi island chain.

The last time Mount Lokon erupted was in 1991.

International, Opinion, U.S.

English Queen rips off British taxpayers

“It does highlight the fact that the Palace was trying to pull the wool over people’s eyes last week.”-Graham Smith, anti-monarchy organization know as  ‘Republic’.

Despite the belief, in the U.S., that the Royal Family in the United Kingdom are just figure heads, the Royal Family commands true Royal Power, and it’s the British taxpayers that pay for it.

The Queen of England is just a figure head when it comes to the larger Commonwealth, but in the United Kingdom she reigns supreme: She is the Governor of the Church of England and Scotland.  She is the Head of the Armed Forces.  She opens every yearly session of Parliament by dictating the agenda.  She is the one who signs new laws, not the Prime Minister.

Now the part of the British Parliament, know as the House of Commons (representing the non-lorded class of people), has just released a financial study of the taxes paid to the Royal Family in the past year.  They discovered that the Queen ripped off British taxpayers by at least 4 million pounds ($6 million).

Last week the Royal Family officially stated that they got only 32.1 million pounds, but it turns out they actually got 36.2 million pounds ($52 million).  On top of that the House of Commons investigation (conducted by the Commons Library) revealed other expenses, paid by taxpayers, that were not accounted for by the Royal Family.

Last year’s estimated cost of the Royal Family, to the British taxpayers, was about 202 million pounds ($326 million).  The Royal Family gets taxpayer money from several programs called Grants.  The biggest one is called the Sovereign Grant, and is guaranteed never to decrease.

People of the United States should realize what the Royal Family is doing now is basically what the Royal Family did to push the American colonies to declare independence in 1776, leading to the Revolutionary War.  Back then King George 3rd was ripping off the American colonies by making them pay taxes with no representation, and no return benefit  (just like our grand U.S. government is doing to us now).

 

 

 

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

What Economic Recovery? IMF says Greece needs a third bailout, and they’re still waiting for the second one

On July 13, the International Monetary Fund issued a report in which they said Greece needed to cut even more public spending, and that it needs a third bailout.  European officials are still hammering out the details of the second bailout.

The IMF says Greece needs a third bailout, consisting of at least 71 billion Euros from the European Union, and 33 billion Euros from private creditors.

Enough! Just let the dominoes start falling!

International, U.S.

U.S. & Europe closer to war with Syria, Clinton uses phrases that hint at military action

In a July 11 statement to the media, about Syria, U.S. Secretary of State Hillary Clinton, used phrases very similar to phrases used in speeches that preceded U.S. led attacks on other countries.

She said Syria’s president was “…not indispensable…”, and that “…he has lost legitimacy, he has failed to deliver on the promises he’s made…”. Clinton also made the obligatory accusation that Syria was getting help from a sponsor of terrorism, Iran.

Clinton is meeting with European Union foreign policy chief Catherine Ashton, no doubt they will be talking about military action against Syria.  Syria, which included Lebanon, was placed under French control after World War One.  The Imperialist French President Sarkozy seems to be interested in regaining all of France’s former colonies.

Syrian officials have countered the statements by Hillary Clinton, saying: “These remarks amount to further proof of the flagrant interference of the U.S. in the internal affairs of Syria.”

 

International, U.S.

French warmongers: Lower Parliament approves continuing war against Libya

July 12, the lower house of the French Parliament approved an extension to the war against Libya.  The vote was 482 in favor, only 27 against.

The French Senate will vote next.  The war with Libya is costing French taxpayers 1 million Euros per day.

It is a sign of desperation when the leaders of a government throw millions, if not billions in taxpayer money at a war that seems to have no end.  The leaders must think that controlling Libya’s oil is the only option for saving their own economy.

“If NATO loses, the consequences are enormous. There are enormous, trillion dollar  financial consequences for those NATO member countries that are seen as aggressors and invaders here.”-Franklin Lamb, Americans Concerned for Middle East Peace