On July 3, Indonesia’s Mount Soputan, on the Sulawesi island chain, erupted. An ash cloud went 5,000 meters (16,404 feet) high. An evacuation zone of 6 kilometers (3.7 miles) was ordered.
This is the second Indonesian volcano to erupt this year. In March, Mount Karangetang, also on the Sulawesi island chain, spewed lava and gas […] Continue Reading…
The Chinese government is contemplating another increase for interest rates, in an attempt to fight off inflation.
On top of that, the Chinese government has ordered banks to tighten their hold on cash. Currently Chinese banks are required to hold back 21.5% of their cash. The increase in capital reserves, as it’s sometimes called, is […] Continue Reading…
Estee Lauder Group announced they will be raising prices on their various makeup brands by 8% to 10%.
Corporate officials are blaming the price rise on the increased cost of labor, and resources.
Estee Lauder Group is not the first cosmetics company to raise their prices. Earlier in the year Christian Dior, Lancome, Biotherm, Chanel and […] Continue Reading…
“We will continue to monitor the situation and evaluate whether this bodes a further slowdown for business activity and economic growth.”-Cai Jin, China Federation of Logistics and Purchasing
China continues to see evidence of economic slowdown, as the non-manufacturing sector shows slowed growth for second month in a row.
The slowdown in non-manufacturing (things like […] Continue Reading…
“People think jobs create wealth, they don’t, they don’t. It is being done by capital instruments [loans].”-Rodney Shakespeare, Trisakti University
A British economist with Trisakti University, in London, U.K., says ‘wealth’ is now actually created by big banks, and the big banks totally control the U.S.
The ‘wealth’ is created by the interest and fees the […] Continue Reading…
According to the Idaho Department of Labor, corporate executives based in Idaho, used unemployment benefits to float their companies (because of the bad economy).
The executives, who own their companies, would apply for unemployment benefits claiming they had lost their executive position. They would then use the money to float the company that they held […] Continue Reading…
“We still have quite a few cherries (in this year’s crop), but it’s down from what I normally see. Maybe two-thirds of what we had last year.”-Paul Pinard, cherry farmer Emmett, Idaho
Because of a lack of global warming in the Pacific Northwest of the United States, there are going to be […] Continue Reading…
The Idaho State Police released the 2010 crime stats, and surprisingly the number of most types of crimes, statewide, went down, including violent crime.
But there was an increase in “crimes against society”, of which drug and prostitution crimes made up the most. Crimes Against Society include drug crimes, prostitution, pornography crimes, weapons crimes and […] Continue Reading…
In May, International Monetary Fund boss Dominique Strauss-Kahn was arrested just after he got on a plane for France. He was charged with raping a hotel maid, and humiliated by the U.S. mainstream media who basically convicted him without waiting for a trial to be held.
Strauss-Kahn ended up resigning as IMF boss, and even […] Continue Reading…
“We are considering quitting the European market because the import duty is far beyond our ability to withstand.”-Wu Jianfeng, Hongyu Ceramics
Chinese media reporting that many small Chinese manufactures are in trouble, because they can no longer afford to send products to Europe.
In March the European Union jacked up its import duties on Chinese ceramics […] Continue Reading…