Category Archives: International

Business/Economics, International, U.S.

What Economic Recovery? United Nations says government cut backs making things worse

“Austerity measures in response to high government debt in some advanced economies, such as Greece and Spain, are not only threatening public sector employment and social expenditure, but also making the recovery more uncertain and fragile.”-UN Department of Economic and Social Affairs

The UN is warning that cuts in government spending will only make the global economy worse.  This comes a week after the International Monetary Fund said the economic crisis was now in the political phase, meaning the private sector had failed.

Interestingly the UN is also blaming the bad economy on global lenders like the IMF.

 

Business/Economics, International, Opinion

What Economic Recovery? Britain wants the European Union to collapse

Discussions within the U.K. Parliament reveal that British leaders are hoping for a quick end to the European Union via a Greek collapse.

Former Foreign Secretary Jack Straw said, concerning the Euro: “…is going to collapse…” and “Is it not better that this happens quickly rather than a slow death?”

Current Financial Secretary to the Treasury, Mark Hoban said: “I am not going to comment on whether the eurozone will remain intact or not. Clearly, this crisis demonstrates the huge strain the eurozone in under. That is why it was right for us to stay out of the eurozone.”

Current Prime Minister, David Cameron said: “We were not involved in the first bailout of Greece; we don’t believe the European financial mechanism should be used in any way.”

Conservative Member of Parliament, Anne Main said Greece “…should be allowed to depart peacefully from the eurozone.”

Current Chief Secretary to the Treasury, Danny Alexander, said the U.K. would not help Greece:  “The package for Greece that is already in place is a eurozone package with the IMF.  It’s the eurozone that is taking forward discussions now about the next stage of dealing with Greece’s substantial problems.  There’s simply no proposition on the table for the U.K. to contribute beyond that IMF involvement and I don’t expect there to be one.”

When you take what the British leaders are saying, along with the International Monetary Fund’s warnings that the default of Greece will lead to a collapse of European Union, then it definitely looks like the British want Greece to default.  Historically the British never really liked the concept of the European Union.

 

 

Business/Economics, International, U.S.

Global Great Depression: IMF warns of global collaspe if Europe goes down the economic toilet

“Given the euro area’s role in the global economy, success in addressing the sovereign debt crisis and raising growth has a significant impact elsewhere.”-IMF report

June 21, a new report by the International Monetary Fund says European economic collapse could bring on a Global Great Depression.

All international finance eyes are focused on what happens with Greece.  There could be a domino effect if Greece defaults.  A check of history will show that a similar situation happened prior to the U.S. Stock Market Crash of 1929, which eventually led to the Great Depression in the U.S.

Here’s a little reminder: Germany was forced to pay the United Kingdom and France (and some other countries) huge reperations after losing the First World War.  The U.K. and France owed the United States big time money for saving their butts during the war.  U.S. corporations were banking on that money from U.K. and France, and actually ran their businesses on debt thinking ‘no problem the French and British will pay up’  (it was called “The Roaring Twenties”).  Well, the victors of the First World War made things so bad for Germany there was no way they could make the reparations payments, so they defaulted.  As a result, the U.K. and France defaulted on their payments to the United States.  As a result, U.S. corporations defaulted leading to the Crash of ’29.

Basically the IMF is saying we are in a similar situation with the current debt crisis in Europe.

International

Pacific Ring of Fire: Chile hit by 6.6 Earthquake

June 21, the Pacific Tsunami Warning Center says a 6.6 quake hit Chile, near it’s border with Bolivia.

No emergencies reported, the quake was deep in the ground, at 111.3 kilometers (69.2 miles).

It seems the number of 6 plus quakes, and volcanic activity, around the Pacific Ring of Fire have increased this year.  Earlier this month a volcano in Chile erupted, for several days, spewing ash that shut down airports as far away as New Zealand and Australia.

International, U.S.

Proof Syrian “freedom movement” is anything but: third mass grave found with bodies of Syrian soldiers

On June 20, and for the third time, a mass grave was found which held the bodies of Syrian soldiers.  This does not sound like something “peaceful protestors” would do.

This latest mass grave had 29 Syrian soldiers, who had been decapitated, and showed signs of torture.

Earlier this month two mass graves were found, containing the bodies of at least 80 Syrian policemen.

The graves are being found near a town called Jisr al-Shughour,  near the Turkish border.  Turkey is a member of NATO and has recently agreed to allow an increase of NATO troops in Turkey.

To me, this sounds like the Turkish government is encouraging Kurdish separatists to go on the war path against the Syrian government, to help “Western” plans to destabilize and overthrow the Syrian government.  Of course, U.S. media goes on and says it’s “protestors”.   There are legitimate protestors, but peaceful protestors don’t go around as trained paramilitaries killing government forces, then burying them in mass graves.

International, U.S.

Iraq and Afghan war vets suffer from lung problems, military doctors back it up

A New York Times report says as many as 80,000 U.S. war vets suffer from lung problems like asthma and bronchitis.

The report says the problems began while ‘in theater’ (while deployed to Iraq or Afghanistan), but have continued since returning home.

Causes could be anything from dust storms to toxic chemicals being used on U.S. military bases.  U.S. military medical personnel are calling for an investigation: “I’m concerned that this exposure is not getting the serious review it needs.”-Captain Mark Lyles, Center for Naval Warfare Studies in Newport, Rhode Island.

International, U.S.

The U.S. created four million Iraqi orphans & one million widows, so far

According to the Iraqi Ministry of Women’s Affairs, by 2008 there were one million Iraqi widows, no thanks to the United States.

Their report also blames the more than two million Iraqi deaths on the United States.  On top of that, as of 2008 there were four million children orphaned by the U.S. occupation.

The Iraqi Interior Ministry released a report that says as of 2008, more than 800,000 Iraqis had been disappeared.

There is still more than 50,000 U.S. military personnel in Iraq.  They were supposed to leave at the end of 2011, but Defense Secretary Robert Gates has been working hard to convince the Iraqi government to allow the U.S. forces to stay.

 

 

Business/Economics, International

What Economic Recovery? Greece threatens default if they don’t get second bailout, EU Finance Ministers say domino effect if Greece defaults

“If Greece was to be the first country to default, eyes would turn to other countries such as Ireland, Portugal, Spain, Italy, maybe Belgium but also France, given its deficit and debt levels. We don’t know where the contagion would stop.”-Didier Reynders, Belgian Finance Minister

After the European Union announced they would hold back the second bailout loan for Greece, because they want Greece to make more spending cuts, Greece said pay up or we will default on the first loan.

Greece is supposed to make their first payment, on the first bailout, in July.  Greek officials say they need the second bailout before then, or they won’t be able to make the first payment.  Greek Prime Minister George Papandreou, also warned of a “violent bankruptcy”.

The Belgian Finance Minister, Didier Reynders says there is evidence that the Greeks presented false economic statements prior to getting the first bailout loan.  This is one of many reasons the EU is now holding back on the second loan.

 

Business/Economics, International

What Economic Recovery? EU holds back on second Greek bailout, possible “catastrophic default”, wants Greece to make even more cuts

European Union finance ministers are holding back on another bailout loan for Greece.  They’ve decided that Greece to needs to make even more cuts to social services, and other government spending (which is called “austerity”, something that’s going on in the U.S., but U.S. officials and media have avoided using that term).

The EU decision came even after Greece announce it would sell off government properties, like airports.  In July, Greece is supposed to make a payment on the bailout loan they got last year.

EU finance ministers are worried that Greece will experience a “catastrophic default” if it does not make even harsher cuts in spending, and so are holding back on the second bailout loan.

Last week the International Monetary Fund warned that the global economic crisis had entered the “political phase”, meaning that only governments could save us now.  Not good when you see what’s happening in Europe.