Tag Archives: economy

Business/Economics, International, U.S.

Chock Full o’Crap Western News Media: Korea South caves to Iran’s growing Purchasing Power!

“Iran is one of the major importers of Korean products. And in the eventuality that the policy of sanctioning Iranian oil is implemented, then that nation will suffer.”-Rostam Qasemi, Iranian Oil Minister

On 02 July 2012, I posted how Korea South (a U.S. ally/puppet) was getting around oil sanctions against Iran, by using Iranian tanker ships.

On 03 July 2012, Iranian media revealed the reason Korea South went against its master’s (United States) wishes: Iran has more purchasing power than the United States!

On 26 June 2012, Korea South announced they would stop oil shipments from Iran.  Iranian diplomats quickly threatened the embargo of all products made in Korea South.  Officials in the southern half of Korea did the math and decided it was not economically sound to go along with the puppet master’s (U.S.) oil embargo against Iran.

Just how much does Korea South rely on Iran for trade?

In 2007 Korea South signed a trade agreement with Iran.  According to the Korea International Trade Association, exports to Iran have increased 32%, while imports of Iranian goods increased 63.7% (the way the data was presented wasn’t clear, the percentages could be 32% for imports and 63.7% for exports)!

“Korea’s shipments to Iran amounted to $6 billion [USD] last year.”-Korea Times

The Korean Times reported that the threat by Iran, to embargo all southern Korean products, would slam 2,900 companies!

There are at least two petroleum companies from southern Korea working in Iran, and they have backing from U.S. investors!  In fact U.S. companies are involved with at least $1.4 billion USD worth of North American investments into Iran!

Here’s the bottom line; Iran is a big spender, and they pay in cash or trade!  The United States is broke, and they pay with credit, or steal it from you with bogus War on Terror tactics.  Who’s gonna get the World’s business in the long run?

 

Fukushima

Government Incompetence One Year Later: 600 page report blames ongoing nuclear disaster on idiots in government! Faulty construction of disaster reactors blamed!

“The accident was not a natural disaster but was obviously a man made disaster.”-Fukushima Nuclear Accident Independent Investigation Commission

On 05 July 2012, the results of a months long Diet (Japanese parliament) investigation into the ongoing nuclear disaster at the General Electric designed Fukushima Daiichi nuclear power factory, places blame squarely on Tokyo Electric Power Company (TEPCo), and the government.

The report also stated that failings in management began years before the  March 2011 disaster.

The report criticizes government response to the nuclear disaster.  The former prime minister who was in charge last year, Kan Naoto, gave a typical Japanese political response, agreeing with parts of the report and refuting other parts.

The report said that construction of Fukushima Daiichi was not up to earthquake standards, as claimed by TEPCo. The report says the nuclear disaster might have actually started with the earthquake, not the tsunami.

Government and corporate leadership only made things worse: Self serving attitudes of leaders resulted in willful negligence, both in the construction of the nuke plant, and the disaster response.

There were plenty of opportunities for TEPCo to upgrade Fukushima Daiichi with stronger construction and better safeguards.

In the first hours of the disaster the government interfered at different levels, causing confusion within corporate chains of command.

The government also confused the general public, by giving reports that conflicted with media reports. In some cases government reports outright contrasted with events watched live on Japanese TV  (I remember watching live on the internet as the tsunami swept over three story buildings, then heard a government official saying the waves were only 3 meters tall!!!)!

The government issued confusing evacuation advise, in some cases people actually evacuated into areas being contaminated with radiation. The report suggests that government leaders were trying to avoid taking full responsibility for the disaster by making evacuations voluntary, and using terms like “just in case”.

Another issue was the announcement of radiation danger zones long after the nuclear disaster began. The report says the government had radiation data for a whole month before hand, and could have declared the danger zones much sooner.

The Fukushima Nuclear Accident Independent Investigation Commission (NAIIC) began in December 2011, interviewing 1,167 people, including former government and TEPCo officials.   The NAIIC is planning “…to make an English version of the final report to show it to the world.”-Kurokawa Kiyoshi, lead investigator

Japanese version of report here.

 

 

Fukushima

One Year Later: Fresh water fish more radioactive than salt water fish! More proof that you need lots of salt in your diet!

03 July 2012, the Ministry of Environment in Japan discovered that fresh water fish are more susceptible to radiation contamination than salt water fish.

From December 2011 to February 2012, they sampled fish from rivers, lakes and eight locations in the Pacific Ocean.  Fresh water fish were much more contaminated than salt water fish.

In a river north of Fukushima Daiichi nuclear plant, goby fish were found with 2,600 becquerels per kilogram of cesium!  The highest readings of cesium in salt water flounder and bass were 260 becquerels per kilogram.

The researchers speculate that the salt in the ocean water absorbs much of the radiation, and then the fish excrete it (the concept is similar to the idea of taking iodide pills after a nuclear accident).

Radiation ends up being concentrated in the bodies of fresh water fish.

ONE YEAR LATER: LEFT BEHIND; FUKUSHIMA PETS STILL WITHOUT HOMES, NEW KITTENS FOUND NEAR NUCLEAR PLANT

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

Economic Recovery? Japan’s Elpida gets owned by Idaho’s Micron! Take over of Taiwan’s Rexchip in the works. Expect higher prices for your gadgets!

“Under the proposed arrangement with Powerchip, if Micron entered into an agreement to acquire Elpida, Micron would have the right to purchase the Rexchip shares held by Powerchip.”-Dan Francisco, Micron Technology

03 July 2012, failed Japanese microchip maker, Elpida Memory, has agreed to become a subsidiary of Idaho’s Micron Technology.  Of course, the U.S. main stream media says it’ll be good for the U.S. economy.

Elpida was a major supplier to Apple.

The major move makes Idaho’s Micron one of three chip makers who’ll dominate 90% of the World’s memory chip market!  The other two are Samsung Electronics and SK Hynix.

In recent years the memory chip market got flooded with so many chips that the bottom fell out, and even Micron was adversely affected (once the biggest employer in the Boise, Idaho, not anymore).

The result was a dog eat dog situation between international chip makers.  In 2007, Pocatello, Idaho’s AMI Semiconductor (not necessarily memory chips, but the same thing happened with this industry) was taken over by Arizona based ON Semiconductor.  Following that ON went on to take over dozens of other companies right on up to February 2011.

“The DRAM industry is heading towards an oligopolistic market. The emergence of three major DRAM players will help DRAM chip prices gradually stabilize, bidding farewell to the price-slashing competition of the past.”-Trendforce, Taiwanese technology research company

So when market prices drop too low, when there are just too many chip makers out there, the only recourse is for companies to merge or be taken over. The result will reduce the amount of competition, and soon memory chip prices will rise making our high tech gadgets more expensive (of course people will lose their jobs as well).

Micron is also in the final stages of taking over Taiwan based Rexchip Electronics. The approval of the sale is conditional upon Micron’s take over of Elpida.  A company called Powerchip is selling its controling shares of Rexchip to Micron.  Already the price of Rexchip stocks has jumped 58% since 29 June!

“The deal will reduce price volatility as Micron will have tighter control over capacity expansion and investment plans as it needs to integrate Elpida and Rexchip.”-Song Myung-sub, HI Investment & Securities

The amazing thing about Micron’s take overs is that Micron has lost billions of dollars in the past couple of years. So where’d they get the money to initiate these take over moves?

 

Business/Economics, International, U.S.

LIBOR: U.K. orders new investigation! Top three Japanese banks involved in international rate fixing! Bank governor admits banks are “deceitful”! More proof of Trilateral policies, & that the Too Big to Fails caused the economic mess!

“Your working hypothesis should be that every bank in the industry did some version of this same thing. There will be more to come.”-unnamed banking official in letter to British news media

02 July 2012, Marcus Agius, a chairman of evil British Empire’s Barclays has resigned.  Barclays recently settled with U.S. and U.K. regulators over the LIBOR scandal. The settlement was a pittance compared to the damage Barclays, and other banks caused.

The general public in Britain has been calling for Barclays boss, Bob Diamond, to resign as well.  Public officials are calling for criminal charges: “…when we’re setting up the National Crime Agency we should look at the record of the Serious Fraud Office. I suspect financial crime is easier to get away with in this country than practically any other sort of crime.”-Ken Clarke, Justice Secretary of United Kingdom

Barclays “systematically” falsified data to set the London Interbank Offered Rate, or LIBOR.  Regulators from Switzerland and U.K., are investigating at least 20 banks, including the top three banks in Japan (for fraudulent Tokyo Interbank Offered Rate or TIBOR), banks in Canada, U.S. and European Union!  Elites from Japan, North America and Europe are members of the private organization Trilateral Commission.

Mervyn King, Governor of the Bank of England, said LIBOR “is now dead”, and even called the very banking system he represents “deceitful”!  Now the British government is calling for a new independent investigation into the British banking system and LIBOR.

The amount of money manipulated by the LIBOR (and now TIBOR) scandal is estimated at more than $361 trillion USD!!!

Business/Economics, International, U.S.

What Economic Recovery? European unemployment rate holds on to record highs! Austerity policies to blame! Trilateral policies in motion!

02 July 2012, the European Union (EU) statistical office released unemployment data from its member countries.  Record high rates persist.

For the month of May, Spain set a new record of 24.6%! Unemployment for Spanish people under 25 years of age hit 52.1%!  For perspective, that’s more than 5.6 million people out of work in a country with a population of 46 million people!

Portugal at 15.2%, Italy at 10.1%.  In total, the number of people unemployed in the EU reached 17.6 million, an increase of 88,000 from April to May 2012!

Greek numbers are months behind, but their report for March shows an increase in unemployment, to 21.9%!  Unemployed Greek youths are also at 52.1%!

EU officials noted that the greatest increase in unemployment are in member countries that have harsh austerity policies (cut spending, increase taxes, which are publicly stated policies of the Trilateral Commission).

 

 

Business/Economics, International, U.S.

World War 3: Europe enforces oil sanctions against Iran. Iran prepares to close Hormuz Strait. Iran creates $14 billion fund to expand oil industry! More examples of Chock Full o’Crap western media!

“There is a bill prepared in the National Security and Foreign Policy committee of Parliament that stresses the blocking of oil tanker traffic carrying oil to countries that have sanctioned Iran.”-Ibrahim Agha-Mohammadi,  Member of Iranian Parliament

02 July 2012, in a move that seems counter to the European Union (EU) oil sanctions that went into effect on 01 July 2012, Iranian lawmakers say they will block oil shipments to Europe by closing the Strait of Hormuz.

It’s also meant to show that Iran does not need European countries for its oil business.  As of Sunday, 100 of the 290 members of Iran’s parliament have signed the bill.

Also today, Iran created a $14 billion USD fund to expand its oil industry: “The $14 billion fund can create a remarkable momentum in the oil industry and indicates that despite sanctions there is no problem in the trend of the country’s development and production in the oil sector.”-Mohammad Reza Farzin, Managing-Director of Iran’s National Development Fund

Also today, South Korean news media reported that South Korean oil refiners and Iranian oil companies have reached an agreement that would allow South Korea (a U.S. ally/puppet) to resume Iranian oil shipments without violating the European sanctions: “Korean oil refiners and the Iranian side have been in consultations over the matter of using Iranian flagged oil tankers to resume oil shipments.”-unnamed South Korean official

For insurance reasons South Korea will use Iranian tanker ships, which turns out to also be a loop hole in the European oil sanctions!

Also today, Iran’s Oil Ministry announced that despite the 01 July 2012 European oil sanctions, Iranian exports of refined gasoline for European customers will actually increase: “The daily production of euro4 gasoline will reach 24 million liters [6.3 million U.S. gallons] by the end of the current [Iranian] year.”-Alireza Zeiqami, Iran’s Deputy Oil Minister

But who’s the biggest buyer of refined Iranian fuels?  Why the U.S. occupied country of Afghanistan!  In 2011, Afghanistan bought $51.6 million USD worth of Iranian fuels.

On 01 July 2012, corrupt British bank Barclays revealed that a certain type of Iranian oil will escape any attempt at sanctions. It’s called “bunkers” (aka vital blending components).  Bunkers are blended fuels for ships, and the international shipping fleets will need at least $145 billion USD this year, according to Bloomberg.  But here’s the rub for U.S. and EU sanctions: “This is a problem we didn’t foresee. We don’t know how much Iranian oil is already blended in.”-Peter Sand, Baltic and International Maritime Council, which represents 65% of ship owners

Reports also show that Iran really does not need the U.S. or EU as customers, demands from Asia and Africa are growing rapidly. Currently Iran is supplying 100% of Sri Lanka’s petroleum needs, 51% of Turkey’s, 25% of South Africa’s, 11% of India’s and China’s, and 10% of Japan’s and South Korea’s demands.

Oh, by the way, did you know that at the end of June the U.S. government exempted China from the latest sanctions, for the next 180 days?

Full o’Crap western news media continue to claim U.S. led sanctions have hurt Iran’s economy.  The U.S. has imposed sanctions for decades, yet Iran has become one of the richest countries in the region, and not just because of oil!

Iran’s mining industry, excluding petroleum, is now the seventh largest in the world: “We have now achieved self-sufficiency in mining and heavy industries by over 70% in the last four years, while we were once totally dependent (on foreign countries) in these sectors.”-Hassan Polark, Iran’s Industry, Mines and Trade

“The richest gold mines in Venezuela, for instance, have been discovered by the young Iranian engineers.”-Hamid Safdel, Iran’s Industry, Mines and Trade

Iran and Iraq have increased trade to close to $10 million USD so far this year, and they plan to do more: “The volume of the trade exchanges between Iran and Iraq amounts to $9.7 billion which shows an 8% growth compared with the last year.”-Mostafa Mohammad Najjar, Iran’s Interior Minister

Also: “We are also ready to build new power plants in order to increase the capacity of power exports to Iraq. The [Karkheh-al-Emara] power line has increased the capacity of Iran’s electricity exports to Iraq to 1,200 megawatts [daily].”-Majid Namjou, Iran’s Minister of Energy

I could go on and on, like Iranian construction contractors building apartments in the South American country of Venezuela.  Belorussian tractor companies making joint production deals with Iranian tractor companies. Iranian automobile manufacturers reporting increased production, for yet another year in a row.

And to prove Iran is making money despite U.S. and EU sanctions, on 02 July 2012, Iranian officials announced they were able to buy two million metric tons of wheat: “The government has so far been able to import two million tons of wheat into the country despite financial restrictions and sanctions. Such a (large) volume of imported wheat is for supplying the country’s strategic reserves.”-unnamed Iranian official

Iran buys wheat from several sources.  Pakistan is a top source, but India is reportedly offering to beat Pakistan’s prices to win orders from Iran.  India is now the second largest producer of wheat in the world.

Iran also buys wheat from Kazakhstan.  Iranian reports say imports of Kazak wheat could increase by 5 million metric tons next year!

 

Business/Economics, International

What Economic Recovery? Japanese government collasping over tax increases! DPJ turning against their own Prime Minister!

02 July 2012, 52 members of Japan’s Diet (parliament) have resigned over the sales tax increases called for by Prime Minister Yoshihiko Noda.

The prime minister and the lawmakers who quit are part of the same political party, the Democratic Party of Japan (DPJ).  One of the lawmakers to resign is Ichiro Ozawa, who helped found the DPJ. He’s forming a new political party to challenge the government.

The members who left occupied positions in both houses of the Diet.  If the DPJ were to lose 55 members in the more powerful Lower House, then the DPJ would not be able to stop any recall of the prime minister.  The Lower House of the Diet appoints the Japanese prime minister, he is not elected by the general public.

Yoshihiko Noda is the sixth prime minister in the past six years.

Idaho, U.S.

Pocatello Charlotte Fire update: 80% contained. Vulture/desperate contractors already descending. 19 fireworks cases despite ban! Respect for dead pets found in fire.

“Today is the day we are really going to attack this fire.”-Lorin Nielsen, Bannock County Sheriff

01 July 2012, Sunday morning press conference reporting 80% containment of Charlotte Fire, in Pocatello, Idaho.

Today is a critical weather day, a red flag warning is in place until 21:00 hours.  About 40 fire fighting trucks and 150 personnel are hoping to fully contain the fire by Monday morning.

The city of Pocatello, and Bannock County, banned fireworks, yet there were 19 fireworks case calls over night.  Police stated no tolerance was applied to those caught.

The cause of the fire is still unknown.

Pocatello residents with gas BBQs with lids can continue to use them.

Hot spots and flares up still occurring within the center of the burn area. There were problems in the Mink Creek area, but law enforcement has resumed escorting residents into that area.

State and local officials expressed concern over the number of looky loos trying to get into the burn area.  Also, construction contractors, who’re either vultures or just desperate for work, have already been pestering those people who’ve suffered lost or damaged property.  County officials are warning people of fraudulent contractors.

Fire fighters are reporting finding dead pets in the burn area, they are leaving them in place and covering them with towels.

Bannock County Humane society is giving away food for dogs and cats to victims of the fire.

Charlotte Fire 50% contained. No return home

 

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

Global Class War: Hungary taxes potato chips last year, now adds cell phone calls! Nebraska already suffering with highest cell phone tax rate in United States!

In September 2011, Hungary joined several countries placing extra taxes on snacks like potato chips.  Full of crap western news media said it was an effort to fight obesity, but a recent Japanese report straight up said it was a way for the Hungarian government to raise more money to pay its out of control debts!

In May 2012, Hungary also passed an extra tax on cell phones calls!  It’s called the voice-traffic levy.  The Hungarian government hopes the new phone tax will create at least $133.6 million USD this year.

NHK (nippon housou kyoukai/Japan Broadcasting Corporation) reporting that Hungary was forced to create the extra tax under demands from the European Union.  But some people have switched to using smartphones which can make calls through the internet.  Hungarian officials did not tax internet based calls.

Here in the U.S. state of Idaho, groceries are already taxed.  It’s fun to watch people from out of state go into shock when they find out they have to pay tax on groceries.

Idahoans are not happy about the decades old grocery tax.  Political leaders have tried to throw us a bone by allowing a grocery credit on the end of year tax filings.  But woe to them that try to add extra taxes on snacky foods in the name of forcing us to be healthy, when in reality they just want to steal more of our increasingly limited money.

But wait, there’s more!  According to a 2011 Money article, Nebraska leads the U.S. with the highest cell phone tax rates!  Combined federal, state and local cell phone tax rates amounted to 23.69% in 2011!!!

Idaho’s state and local tax rate was 2.2% (not counting federal taxes).

“Cellphone users are overtaxed relative to consumers of other goods, and at risk of double taxation. Additionally, the wide number of taxing authorities and the wide variety in rates makes tracking problematic and burdensome.” -Joseph Henchman, Tax Foundation Director of State Projects

The reason this is class warfare is that these kinds of taxes do not affect the elitist wealthy, they target the overwhelming majority of citizens who are not rich!