Tag Archives: banks

Business/Economics, International

Corporate Evil: Mitsubishi ripped off its biggest customer; taxpayers! More proof that Western Capitalist Corporations are welfare scammers!

21 December 2012, the government of Japan is hitting Mitsubishi Electric with hundreds of millions of dollars in fines, after an investigation revealed that the manufacturing giant ripped off taxpayers for at least ten years.

Japan’s Defense Ministry says Mitsubishi Electric overcharged taxpayers on military contracts, to the tune of $295 million USD.

Japan’s JAXA space agency announced that Mitsubishi Electric overcharged the taxpayers by around $74 million.

Mitsubishi must now pay back the overcharges, plus fines, but doesn’t have the money.  But at least the executives of the Japanese company are more responsible than their U.S. unAmerican Corporate America counterparts; Mitsubishi execs will cut their pay in half for at least six months to try and help the company pay the piper (so they say).

Mitsubishi is already in trouble as their sales in China are crashing, and they expect only half of the profits they were forecasting at the beginning of the year.

Business/Economics, Opinion, U.S.

Dumb ‘mericans & Incompetent Media! Fiscal Cliff done deal! Almost the exact same politicians trying to ‘stop’ fiscal cliff are the ones who created it!

21 December 2012, I wonder how many Dumb ‘mericans out there think the “fiscal cliff” is some kind-o-god sent law, like the ten commandments.  Well, it’s a done deal but not because of any divine power, it was created by almost the very same ‘elected’ republicans and democrats who now act like they’re trying to stop it.

Speaker of the U.S. House of Representatives, John Boehner, cancelled 21 December’s vote on a proposal designed to draw concessions from President Barack Obama.  But don’t blame Obama, that starts with President George W. Bush, and it was Congress who wrote the law!

The tax increases and government spending cuts can be traced back to the Bush tax cuts, aka Economic Growth and Tax Relief Reconciliation Act of 2001.  But it’s not that simple, as it involves successive Acts passed under the Bush and Obama administrations (Jobs and Growth Tax Relief Reconciliation Act of 2003, Tax Relief American Recovery and Reinvestment Act of 2009 [aka Stimulus] Unemployment Insurance Reauthorization and Job Creation Act of 2010 and finally Budget Control Act of 2011).

All those ‘Acts’ were intended to save the economy through tax reductions and government spending increases.  However, most of the tax reductions helped only the ultra-rich and the Too Big to Fails (it’s now clear they did not spend it on creating the millions of new jobs economists said were needed), and most spending increases (like the military) came with spending cuts elsewhere (like social programs).

So almost every elected official in the U.S. Congress, now, are the same people that created those Acts, and if not the same person it’s the very same political parties controlling the House and Senate, remember the recent ‘elections’?

In their wisdom they threw in massive ‘automatic’ austerity cuts if their previous efforts to save the U.S. economy failed.  They claim they’re ‘automatic’ because they can through up their hands and say “Oh, we can’t do anything about it, it’s the law!”  Yeah, the very law they created!

And then there’s the incompetent media, who’s giving us daily reports on the ‘progress’ being made to stop the fiscal cliff.  Idiots!  It’s a done deal!  Think about it, what is(are) the plan(s) our elected officials are coming up with?  Tax increases and spending cuts!  In other words what we’re facing is either massive austerity measures or tax increases and government spending cuts.  Austerity is austerity, but if you’ve been paying attention to what’s happening in many European countries then you should know this isn’t over.  Most Euro countries (especially Greece) have been passing austerity measures, only to have to turn around and pass more tax increases and government spending cuts just a few months later.

No matter how you look at it, the Fiscal Cliff is a done deal!

 

International, U.S.

World War 3: U.S. occupation of Afghanistan; 13 – 16 December 2012. Norwegians join Mujahideen! Karzai admits healthcare is a big business scam! UN counters claims by USMC General Allen! First taxpayer cash being stolen from Afghan banks, now gold! Poland agrees to give Afghanistan more taxpayer money! No More Frenchies?

16 December 2012

In Kabul Province, city of Kabul, the Ariana Hotel near the Kota-e-Sangi caught fire.  The hotel is also home to many financial businesses.  Fire officials say it looks like the fire started in a coffee shop during a wedding celebration.

In Kandahar Province, Khakrez and Shahwalikot district in Geri area, reports say a U.S. led heliborne operation resulted in five Mujahideen killed and nine civilians killed.  Locals say the nine civilians that were killled were pulled out of their farm fields and houses by the U.S. led troops, and then executed!

Iran is demanding the government of Afghanistan must pay for damages to the Iranian consulate in Herat Province.   Hundreds of Afghans attacked the consulate over the Iranian execution of Afghans. Iranian officials say the Afghans were caught smuggling drugs into Iran.

President Hamid Karzai has stated that there is no “proper” healthcare system in his country.  Afghanistan’s medical providers are increasingly concerned only with money.  Karzai made the statements at a medical ethics conference.  Afghan lawmaker, Naqibullah Fayeq, said doctors who’re supposed to be providing services in government run hospitals are going AWOL, in search of patients who’ll pay them more money: “….they have forgotten about their formal duties in government hospitals. They are coming to hospital at 10:30 am and leaves the hospital 11:00 am!”

For awhile now there have been growing admissions that foreign taxpayers’ aid money is being withdraw from Afghan banks in scandalous amounts, and taken out of the country.  Now, the New York Times reports that gold is being stolen as well!  According to Afghan airport officials one gold haul was worth $1.5 million USD, and most of it is going to U.S. allies such as Dubai and United Arab Emirates.

15 December 2012

In Herat province, in Gazra district’s Malan area, Mujahideen claim to have assassinated the local government head of 4th District Logistics.

Poland has signed a deal that will give Afghanistan more taxpayer money from Europe: “The signing of this agreement will further enhance and strengthen the relations and the wide range of cooperation between the two countries. Over the past ten years Poland has had a significant contribution to the reconstruction of and securing peace in Afghanistan. The signing of this agreement today will provide investment opportunities by the Polish side in Afghanistan.”-Zalmai Rassoul, Foreign Minister of Afghanistan

Reports say the last of France’s combat troops have left Afghanistan, two years early.   U.S./NATO “pullout” isn’t until 2014, but 200 soldiers of the 25th Belfort Infantry Regiment left on Saturday.  Look out Syria! Look out Mali!   France still has about 1,500 logistics/admin/training troops in Afghanistan.

Despite the fact that President Karzai is negotiating with the U.S. about keeping U.S. troops in Afghanistan, he publicly stated that he wants all foreign troops out by 2014: “From our vision, the fight against terrorism is not in Afghanistan…That is why we do not want military operations in our villages, in our houses….”

14 December 2012

International Security Assistance Force said: “A U.S. Forces-Afghanistan service member died as a result of a non-battle related injury December 14, in southern Afghanistan.”

The United Nations Assistance Mission in Afghanistan (UNAMA) has released a report that contradicts claims made by USMC General John Allen, that violence in Afghanistan is down.  The UN reports said violence against civilians is up 28% from last year!

The USMC is going to make a single NCO the scapegoat for the 2011 body urination desecration scandal: “Staff Sgt Joseph W Chamblin would be tried by special court-martial at Marine Corps Base Camp Lejeune in North Carolina on December 19.”

General Knud Bartels, Chairman of NATO’s Military Committee, said the U.S. led occupation of Afghanistan will not end up like it did for the Soviet Union, precisely because Russia is now a NATO ally, and is working to help NATO in Afghanistan:  “If I can walk away from my visit having achieved a personal, open and transparent relationship with the Russian Military leadership, then the visit has been a success. We are here today to confirm our strong cooperation and partnership. Confirm our NATO-Russia Council cooperation menu and push our relations to a new stage.”

More warmongering against Pakistan.  U.S. Army Lieutenant General, Michael Barbero, testified to the U.S. Congress that more than 1,900 U.S. personnel have been wounded or killed by homemade bombs (IEDs), just this year.  He blamed Pakistan, and told congressmen to expect even more casualties if no action was taken against Pakistan.  He claimed that 70% of the components for the homemade bombs come from Pakistan.

In United Kingdom, the Sandhurst Royal Military Academy announced that two of its top three military students are from Afghanistan.

13 December 2102

In Kandahar Province, outside Kandahar airbase, Mujahideen claim to have attacked the U.S./NATO base and killed eight occupiers.  Other reports say a U.S. led ISAF convoy was hit by a car bomb.  Four U.S. personnel were killed, along with one Afghan National Army troop, and at least 16 civilians were wounded: “I can confirm that insurgents detonated a vehicle-borne improvised explosive device in the vicinity of Kandahar airfield. Currently ISAF officials are on the scene collecting facts and assessing the situation and as information becomes available we will release it as appropriate.”-unnamed U.S. spokesperson

U.S. Army Staff Sergeant Nicholas J. Reid died in a hospital in Germany. He was gravely wounded by an explosion in Afghanistan, on 09 December.

In Herat Province, Mujahideen tried to assassinate a senior government security official.  A firefight broke out and one body guard was killed.

In Ghazni Province, local government officials say the Mujahideen are winning over locals by focusing on solving ethnic/tribal issues.  This is more proof that ‘government’ does not really care about the needs of the people.

Norwegian intelligence officials (Etterretningstjenesten, aka E-tjenesten) have confirmed that Norwegian citizens have joined Afghan Mujahideen, and even attacked Norwegian troops (yes, I’m surprised at how many people think Norway is a neutral country).  Lieutenant General, Kjell Grandhagen, said this has been going on for several years: “Norwegians were directly tied to carrying out or attempting armed attacks against Afghan authorities and/or the ISAF, where Norwegian soldiers are also involved.”

Pakistan said there are still 2.6 million Afghan refugees in their country.  Despite threats from the Pakistani government, and incentives (money) from the United Nations, most of the refugees refuse to go back to U.S. occupied Afghanistan.

Outgoing U.S. special envoy for Afghanistan and Pakistan, Marc Grossman, said the new security pact will ensure that the U.S. will not leave Afghanistan: “I think there will be an agreement in this regard since the security agreement will be in the national interest of Afghanistan and United States. The strategic pact between Kabul and Washington has paved the way for security pact between the two nations. We know that the security pact will be as an agreement for the presence of U.S. troops in Afghanistan.”

International

World War 3: Hungarian lawmaker arrested for burning Israeli flag! Proof Israeli NAZI cops target their own people! Palestinians continue to be killed!

14 December 2012, Balazs Lenhardt, a Hungarian Member of Parliament, was briefly detained after he burned an Israeli flag.

There is a growing number of Hungarian politicians who’re are coming out condemning their country’s secret agreements with Israel.

Israel continues to attack Palestinians. The most recent was a man who was shot as he walked along a Gaza border fence.  Also on Friday,  Israeli NAZI forces assaulted two Reuters photogs in West Bank.  The photogs were in a vehicle marked “TV”, the Israeli NAZI forces drug the men from the press car and hit them with their assault rifles. The Israeli NAZI forces said they thought the photogs were actually working for an Israeli human rights group known as B’Tselem.  This means the Israeli NAZI forces thought they were targeting fellow Israelis!

On 13 December, Israeli NAZI forces shot and killed a 17 years old Palestinian, in the West Bank.  They claim he threatened them with a toy gun.  His parents say they were waiting for him to come home from school, because it was his birthday.

On 12 December, Israeli NAZI forces killed a Palestinian in the West Bank.  Witnesses say the 16 years old boy was shot at least six times.  Israeli NAZI cops say he threatened them with a toy gun.

On 11 December, Israeli NAZI forces raided several NGO human rights offices in West Bank.  They took computers and video cameras.

 

 

International, U.S.

World War 3: Former Soviet leader says United States about to collapse

On 13 December 2012, the first and last president of the Soviet Union, Mikhail Gorbachev, warned that the United States is about to follow the same path as the Soviet union; total collapse!

He made the statements at a conference in Turkey.  The conference is about the future of the Middle East and Black Sea areas.

Gorbachev said if the U.S. does not stop hegemonic policies it will collapse.  On 26 December 1991 the Union of soviet Socialists Republic collapsed into 15 independent republics.  Gorbachev said the collapse of the Soviet Union was mainly due to the costs of fighting wars, especially the Soviet occupation of  Afghanistan.

Note: The office of President of the U.S.S.R. (CCCP) was not created until March 1990, as part of their feeble attempt to reform their system, which is how Gorbachev became the “first and last” President of the USSR.

International, U.S.

World War 3: U.S. occupation of Afghanistan; 09 – 12 December 2012. Where’s all the taxpayer money supposedly given to help Afghanistan? More evidence the U.S. & U.K. are the biggest drug dealers in the world! More evidence your governments are involved with international tax money laundering! Afghans say they will support U.S. invasion of Iran! India to take over Afghanistan? Karzai is two faced!

12 December 2012

According to the UN Office for the Coordination of Humanitarian Affairs (UNOCHA), at least 2 million Afghans are threatened by cold, disease and malnutrition this winter.  The reason?  The UNOCHA says out of the $448 million USD in aid money requested, only 48% has actually been paid out by UN members.  It seems the leaders of the occupying countries are big on promising large amounts of their taxpayers’ money, but can’t deliver.

In Ghazni province, local government officials say Mujahideen are in control of 70% of the provincial schools.  Taliban means student in English. I wonder how many true students were detained by U.S. led forces because they innocently stated they were a Taliban (student).  There are an estimated 635 educational institutions in Ghazni Province.

U.S. Secretary of Defense, Leon Panetta, arrived in Afghanistan to discuss how many U.S. troops will stay in the Central Asian country, after the 2014 pullout (contradictory isn’t it?). Despite earlier reports that as many as 9,000 U.S. troops would be left in Afghanistan, Panetta said President Obama is still trying to figure out how many to leave behind: “The size of that enduring presence is something that the president is going to be considering over these next few weeks.”

Trivia question: How many Red Coat Brits made it out of Afghanistan alive?  Answer: One! It happened during the First Anglo–Afghan War from 1838-42.  It’s considered the first modern European led war to control Afghanistan, as part of the ongoing Great Game.  How many were killed in the First Anglo–Afghan War? 4,500 Red Coats and 12,000 of their camp followers!  The sole survivor of the Red Coat retreat from Kabul was William Brydon.  You might call the current U.S./U.K. occupation of Afghanistan the Third Anglo-Afghan War.

The UN Office on Drugs and Crime (UNODC) has data that proves the increased drug trade in Afghanistan correlates with the U.S. occupation.  The UNODC also says 95% of opium production is being carried out in areas controlled by the United States and the United Kingdom.  Also, Iranian anti-drug police are pointing out that the increased annual production of Afghan heroin requires 13,000 metric tons of material and equipment that is not available in Afghanistan.  Iran says their anti-drug operations are revealing that production material is coming from the occupying countries, such as the United States.

The Afghan parliament is accusing 11 officials of not spending government funds on building infrastructure.  At least 50% of government funds meant for building up Afghanistan has not been spent, and elected officials want to know where it went.

11 December 2012

In Kapisa Province, in the town of Tagab, Mujahideen killed four Afghan National Army (ANA) soldiers.

In Nuristan Province, Barmatal district, Mujahideen report they’ve overrun a second defensive FOB (forward operating base) in that district.  They killed four ANA troops, and wounded five others.

In Ghazni Province, Shilgar district, seven ANA troops joined the Mujahideen.

An unnamed U.S. official said India could take over military affairs in Afghanistan: “We have had discussions with the Indians about this issue and about the Afghans, and I don’t see any particular problems with the overall approach here at all.”

Reports said a U.S./NATO drone crashed in Helmand province, Nava district.   ISAF has not commented.

In Paktia Province, government officials claim they captured several suicide bombers, calling them Mujahideen.  However, Mujahideen groups have come forth and stated the men arrested are not known to them as fellow Mujahideen.  Are government officials labeling common thieves as Mujahideen in order to impose stricter penalties, such as President Karzai’s order to execute Mujahideen?

Despite rampant corruption (Afghanistan being considered the third worst in the world) an Afghan bank just won Best Bank-o-the Year!  Afghanistan International Bank (AIB) was given the award by another majorly corrupt country, the United Kingdom.  The London based organization, which gave out the award, is known simply as The Banker.  If you’ve been paying attention to the massive bank fraud cases, you should know most of them are led by British banks, which include the bank used by the British royal family.

Ironically, U.S. officials admitted that massive amounts of cash are being taking (stolen/laundered?) from Afghan banks, and out of Afghanistan.  According to the U.S. Congressional Research Service, $4.5 billion USD was taken out of Afghanistan in 2011.  According to the U.S. Treasury about $1.3 billion in outbound cash was declared to Afghan Customs Department personnel at Kabul airport in 2010.  Most of the money going into Afghan banks are coming from the taxpayers from occupying countries.  And this is just the non-military aid being paid to Afghanistan.  In March 2012, Afghanistan’s deputy central bank governor estimated that at least $8 billion total is being taken out of Afghanistan every year!  This partly explains why many organizations in Afghanistan say they are not seeing any of the promised aid money.

One afghan commentator said there is not going to be peace in his country, because too many forces are making big profits off taxpayers and drug addicts. From the United States to European and Asian countries to various Mujahideen groups, all are profiting from illegal drug trades and tax money laundering.  It’s only the civilians who are paying the price.

Syed Ali Wasif, of the Society for International Reforms and Research, said the Third Anglo-Afghan War is all about corporate control of natural resources, and corporations don’t care who they make deals with: “The American corporate sector would be involved there in the future together with the Taliban. It’s going to be a Taliban and American corporate nexus.”

Wasif also said corporations are taking advantage of incompetent U.S. political and military leaders: “This is a war between the corporate people and the military or between the state department and the DoD and the corporate people. This is the main issue, you should understand that. Not the issue of Afghanistan or corruption.”

In Herat Province, Iran has closed its consulate. Iranian media say hundreds of Afghans attacked the consulate.  Local Afghan officials say the people were protesting the Iranian execution of Afghans.  Iran says they captured Afghans smuggling drugs into Iran,  which is a death penalty offense in that country.  Some of the protestors said they will support any U.S. invasion of Iran.

10 December 2012

ISAF said: “An International Security Assistance Force service member died following an improvised explosive device attack in southern Afghanistan.”

In Laghman Province, the boss of the provincial women affairs department for eastern Laghman province was assassinated by unknown gunmen.

In Nimroz Province, a police chief was killed after he drove over a landmine.

USAF (United States Air Force) data shows Afghanistan is the main target of drone attacks. At least 447 drone strikes so far for 2012.  And USMC (United States Marine Corps) General John Allen recently said violence was down?

President Barack Obama praised a Special Operations Forces (not to be confused with U.S. Army Special Forces, but SOF can include Army “Green Berets”) operation that rescued a captured U.S. citizen, who is supposedly representing a U.S. aid organization.  The operation took place the day before.  One SOF personnel was killed, who just happened to be one of the SEALS (SEa Air Land teamS) who took part in the questionable Osama bin Laden assassination.

09 December 2012

ISAF said: “A U.S. Forces-Afghanistan service member died in eastern Afghanistan today.”

In Helmand Province, local police officials say an overnight U.S. airstrike hit the Godar area of Nahr-e Seraj district.  Six people were killed.

In Ghazni Province, Ghazni city, Mujahideen say they killed three U.S./NATO troops.

In Kandahar Province, two people killed, two wounded after they drove over a landmine. Also, Mujahideen say they repelled a U.S. led heliborne operation in Kala Shamir region’s Shilghami Manda area, Maiwand district.  The U.S. led operation began the night before.

The Afghan Ministry of Public Health said 24,000 Afghans were burned by faulty imported gas cylinders, in 2011. 234 people died. Many Afghans can not afford to buy quality gas cylinders so they buy poor quality imported cylinders, which have been exploding or catching fire.   Most Afghans do not have electricity so they rely on gas for everything from cooking to lighting.

The European Union (EU) announced it will give Afghanistan another $1.9 billion USD by 2017. This as the EU struggles with a collapsing economy.  Afghan officials say the EU is one of the biggest taxpayer donors to Afghanistan: “European Union is one the biggest donors of Afghanistan. EU had considerable commitments towards the Afghan government in Tokyo conference. Majority of the aid by European Union was spent through the Afghan government.”-Hazrat Omer Zakhilwal, Afghan finance minister

More evidence leaders don’t want peace; Pakistan government officials are detaining Mujahideen who want peace!   That claim is being made by Afghan officials: “Taliban leaders detained in Pakistan have been arrested since they are interested and prepared to join peace process. This is the main reason that the Afghan government is repeatedly urging Pakistan to free Taliban group members.”-Janan Mosazai, Afghan Foreign Ministry spokesman

After continually condemning U.S. policies, President Hamid Karzai now says he will consider granting U.S. military personnel legal immunity. It’s part of the ongoing discussions concerning the new post-2014 pullout military pact, to be signed by 2013.  This is also proof the U.S. is not really pulling out.

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

What Economic Recovery? Yet another U.S. company (based in Utah) spends big billions, but not in the U.S., in Japan

14 December 2012, Japan’s struggling Mitsubishi Aircraft just announced it has received its largest order ever, from a U.S. company.

Utah based Skywest is buying 100 Mitsubishi Regional Jets (MRJs), with an option to buy another 100 later.

The 100 MRJs will cost Skywest $4.2 billion USD.  The planes will be delivered at least one year late, as Mitsubishi says they’re having manufacturing problems.

 

Business/Economics, U.S.

What Economic Recovery? California: More courts closing down! Prison health care services closing down!

“As California goes, so goes the rest of the nation.”-phrase usually associated with government regulations originating in California, but it also refers to the economy

13 December 2012, California Correctional Health Care Services issued layoff warnings to 2,200 employees!  Officials want to layoff 829 people by March, 2013.

The U.S. Department of Labor reporting that unemployment compensation claims in California jumped by 24,411, for the week ending 08 December.

NASA reported that due to the approaching austerity measures (fiscal cliff) California will lose 4,586 NASA related jobs.

Reports say that Barclays could be laying off 2,000 people, some in California.

In Texas, The Greater Houston Partnership admitted the job growth they’ve created in Texas is at the expense of states like California: “Houston has been able to import workers — meaning we pull people out of California, we pull people out of Michigan, we pull people out of New York….”-Patrick Jankowski, vice president of research

12 December: A report says California’s biggest newspaper, the Los Angels Times, is up for sale.  Layoffs are expected.

11 December: The County of San Bernardino (the largest in the country) will layoff at least 44 court employees, and close courts.  Courts affected are in Chino, Barstow, Needles and Big Bear Lake.  Even after the cuts, the county court system is expected to be short $13 million, so officials say it’s likely more cuts will be made.

California based electric car maker, CODA, announced it will layoff 50 people.

Career Education Corporation, owner of private universities like Brooks Institution, announced they will begin laying off hundreds of employees at their Ventura and Santa Barbara campuses.  They blame declining student enrollment.

08 December:  In the County of San Bernardino, Community Hospital of San Bernardino and St. Bernardine Medical Center announced they will be laying of employees: “Currently, we are in communication with two unions that represent employees at the hospitals. Impacted employees have not been notified yet, since the details are not clearly defined at this time.”-Dignity Health spokesperson

According to California Manufactures & Technology Association (CMTA), California lost 33% of its manufacturing base from 2001 to 2011.  That’s 607,500 people unemployed.

According to the Center for the Future of Teaching and Learning, California lost 23,000 teachers between 2008 and 2011, due to layoffs.   More teachers were forced out through early retirement.  This despite the fact that the number of students goes up every year.

 

Business/Economics, Idaho, U.S.

Corporate & Polictical Evil: Right to Work laws have nearly destroyed Idaho’s economy!

13 December 2012, the governor of Michigan has signed into law their Right to Work act.  Recently there were claims that between 2001 and 2011 states with Right to Work laws saw an increase in pay, however that’s misleading.

Take for example Idaho.  The Gem State passed its Right to Work laws back in 1985.  The result was a crash in employee pay and benefits, not an increase.  But, since 2001 overall starting pay has gone up slightly, mainly because mandated minimum wage went up, not because of any Right to Work law!

I’ve talked to southeast Idahoans who began their adult lives working at jobs that started out between $11.00 to $15.00 per hour, plus benefits, and this was in the 1970s!  Now the average starting pay, in the same area of Idaho, is minimum wage ($7.50 per hour in Idaho) with no benefits!

According to researchers Stephen C. Cooke and Barathkumar A. Kulandaisamy, Idaho’s average wages, for 2009, were $10,700 below the national average!  Also, contrary to what supporters of Right to Work laws say, Idaho’s employment growth is being driven purely by its population growth, not any Right to Work law!  In fact, when you look at government data, it’s the population growth that’s saving Idaho from a full blown depression (one driver of the population growth are people retiring in other states and moving into Idaho)!

The researchers used data from the U.S. Census Bureau/Labor Statistics, data collected from 1971 to 2007.  The official government data backs up what the native Idahoans, now in their 50s, 60s and 70s, have told me: The economic situation for the working class has stagnated or gotten worse!

From 1971 to 2007 the median wage in Idaho has dropped by $6,445!  Median year over year wage growth rate in Idaho is negative 0.3%!  The number of college educated workers in Idaho is a negative 3.4%!  Right to Work has done nothing to create high skilled/high paying jobs, getting a big fat 0% in that category!

Cooke and Kulandaisamy added that Idaho’s “…cost of living only exacerbates wage differences.”

To contrast; Colorado is not a Right to Work state, here’s what the researchers had to say: “…Colorado appears to have made the transition from a low-skill to a high-skill equilibrium economy; Idaho…..have not. In particular, we posit that Idaho has a low-skill, low-wage problem.”

Even when you look at high skill/high wage jobs in Idaho, they still pay as much as $19,000 per year less than the national average!

Cooke and Kulandaisamy concluded that the reason why states, specifically Idaho, get stuck with low paying jobs is because state leaders refuse to invest in creating high skill industries. And, the decline in college educated workers is because state leaders refuse to invest in higher education.

The christian leadership of Idaho pushed Right to Work laws as a way of attracting lots of companies to do business in Idaho, including high skill jobs.  Well, after 27 years it’s obvious that right wing christian theory is a failure.

Most of those Idahoans I talked to, in their 50s, 60s and 70s, are still working (at places like Walmart), because they experienced such a huge decline in their pay and benefits, and there’s been such an increase in the cost of living here, that they can not afford to retire!

What about the claims that prosperity has increased in Right to Work states?  Of course it has, but not for the working class, the prosperity is being hoarded by a tiny minority who’re the ones truly benefiting from the Right to Work laws.

Business/Economics, International, U.S.

What Economic Recovery? More proof the Too Big to Fails are to blame; drug money, violating sanctions, tax evasion

13 December 2012, German officials announced they are investigating employees and executives of Deutsche Bank, for tax evasion and money laundering.   500 investigators descended upon the bank’s Frankfurt headquarters.  At least 25 employees are under investigation and five have already been arrested.  Some of the tax evasion claims involve the bogus carbon tax.

12 December 2012, the U.S. Treasury Department announced that the Japanese bank, Bank of Tokyo-Mitsubishi UFJ, will pay a fine of $8.6 million USD for violating U.S. sanctions against Myanmar, Sudan and Iran.

11 December 2012, HSBC was fined a record $1.9 billion for money laundering, sanctions violations and several people were arrested for the ongoing LIBOR scandal.   U.S. Department of Justice said the British bank laundered money for drug dealers and violated sanctions against Burma, Cuba and Libya.

It’s reported that other banks involved in the LIBOR scandal, such as The Royal Bank of Scotland (RBS) and Swiss bank UBS, are about to make a settlement.

The failed British bank, Northern Rock, cost taxpayers dearly: “This is £270m straight out of the taxpayers’ pocket. I’ve been repeatedly assured in parliament that there was no black hole in Northern Rock. U.K. Financial Investments and the Treasury didn’t know what they were talking about.”-Lord Oakeshott, Liberal Democrat

And let’s not forget the Queen of England’s own bank, Coutts (a division of RBS), which is also involved in money laundering for drug dealers.  Just think, the medical care being provided for Kate Middleton and her unborn baby is possibly being paid for with drug money (as well as taxpayer money) for all we know.