Tag Archives: economy

Business/Economics, International, U.S.

Sign the West is going down: Huge jump in suicides, even the U.S. military sees 154 suicides in 155 days! Blame the War, blame the economy!

8 June 2012, numerous reports proving that things are not well in the Western world.  The biggest sign is the increase in suicides.

According to the U.S. Centers for Disease Control and Prevention (CDC) suicides by U.S. teenagers hit 7.8% in 2011. An increase from 2009’s 6.3%.

The info is found in the CDC’s 2011 National Youth Risk Behavior Survey.  That survey also found the percentage of teenagers who seriously considered suicide up as well; 15.8% in 2011. 

In Japan (considered part of the Western world, it is part of the Trilateral Commission), the National Police Agency reported on 8 June 2012, that 622 people aged 19 or younger committed suicide, up 70 from 2011. The number of suicides of people in their 20s rose by 64 to 3,304.

The Japanese government says suicide by people younger than 30 years has increased every year since 2009, they blame the bad economy and the increasing lack of jobs!

Reuters reporting that suicides in the economic crisis stricken country of Greece are up; a 40% increase between 2010 & 2011!

In the United Kingdom, the latest data shows a 10% increase in suicides between 2007 & 2009.

At the end of May 2012, France saw a wave of suicide by railway: “We’ve never seen so many suicides in such a short period of time.”-Michel Pronost, Société Nationale des Chemins de fer français/National Corporation of French Railways

  In four days 12 people killed themselves by jumping in front of a train, including one man who took his 19 month old baby with him.  The causes were blamed on everything from bad relationships to the bad economy.

In India (a Western country due to it being a former British colony, and still under some influence by the British & U.S. Empire, and operating a Western style economy), a too big to fail bank (Central Bank of India) is downplaying suicides, saying “Farmers’ suicide numbers is just media hype.”  The statement was made after hundreds of farmers killed themselves when their credit was cut off by the bank (they were de-leveraged, a policy that has been pushed by the U.S. controlled World Bank and IMF)!

The amazing thing is that India’s economy is booming (they are part of the BRICS)!

South Africa (a Western country as it was established by the British Empire, and uses Western style economy) reports a “shocking” increase in suicide, especially among people who were about to lose their jobs.

Another surprise was that the sudden increase in suicides is among white males: “A lot of them have wives who have been raising kids. She has no skills, he has no job and is freaking out. People feel retrenchment [job loss] is a black mark against them, and they worry that they will be perceived as having done something wrong.”-Janine Shamos, South African Depression and Anxiety Group

About one in ten deaths in South Africa are due to suicide. The amazing thing is that South Africa’s economy is supposed to be good (they are part of the BRICS)!

For every person who killed themselves, there were 20 people who tried to do the same thing. A British sociologist says government cuts to social programs only makes things worse: “Austerity can turn a crisis into an epidemic. Job loss can lead to an accumulation of risks that can tip people into depression and severe mental illness which can be difficult to reverse, especially if people are not getting appropriate care.”-David Stuckler, Cambridge University

A psychologist says such bad economic conditions actually speeds up the process of depression that leads to suicide: “Instead of seeing a slow increase in the epidemiology of mental illness, what we’re seeing is what we predicted, that these economic impacts have rapid significance for our way of thinking about the world.”-Peter Kinderman, University of Liverpool

Back in the United States, Time.com and the Associated Press are reporting that suicides among active duty military personnel have hit almost one per day!

Pentagon data shows 154 suicides during the first 155 days of 2012, 50% more than those U.S. personnel killed in Afghanistan!

In 2008 suicide among U.S. military personnel exceeded the civilian cases: “…historically, the suicide rate has been significantly lower in the military than among the U.S. civilian population.”-U.S. Army statement, 2010

Military mental health officials blame the repeated deployments in the never ending War on Terror!

 

 

 

Fukushima

One Year Later: GE designed Fukushima Daiichi Reactors still leaking cooling water! No decommissioning until it stops!

8 June 2012, Tokyo Electric (TEPCo) said that employees inspected the basements of Reactors 2 & 3, for the first time since the March 2011 nuclear disaster began!

Now, more than a year later, TEPCo officials say it is clear that the reactor vessels are damaged and still leaking! Really, after all this time?

The basement of Reactor 2 has 5.33 meters (17.3 feet) of contaminated water, and Reactor 3 has 5.43 meters (17.7 feet)!

Rather than dump sand, lead, boric acid and concrete on the thing (as the Soviets did with Chernobyl), the Japanese government, and TEPCo, have decided to shut down the GE designed disaster reactors, as if they were functioning normally!

The problem is that it requires the cooling down of the reactors, and the removal of melted fuel rods.  And that can only be accomplished by stopping any leaks and removing all contaminated water.  Here’s the thing, more than one year later, TEPCo still does not know where the water is leaking from!!!

Business/Economics, U.S.

Government Incompetence: Hurting for revenue U.S. Postal Service considers giving junk mail companies a cheaper rate? Don’t blame USPS, blame Congress!

8 June 2012, The U.S. Postal Service (USPS) is supposedly in financial trouble, no thanks to the U.S. Congress, but now there are reports that the USPS could give one of the countries largest junk mail distributor a cut rate deal!

Valassis Direct Mail has been negotiating with the USPS for a lower rate.  But wait, don’t blame the USPS!  The USPS can not set postal rates!  It is the U.S. Congress that makes those deals! It’s actually the Postal Regulatory Commission that Valassis Direct Mail has been negotiating with.

For some reason the mainstream newspaper media is bashing the USPS directly.  The Newspaper Association of America (NAA) says it’s not fair to give junk mail distributors a cut rate on postage, especially when the USPS is in need of cash.

It is the Postal Regulatory Commission (PRC) that will make the decision on the deal. The PRC is a Congressional commission!!!

In September 2011, the USPS Postmaster General, and the president of the National Association of Letter Carriers, explained in a heated PBS interview that it was the rules imposed by the U.S. Congress (like over paying into federal funds) that is destroying the USPS.

One of those rules is that it is Congress that makes the postage rate deals!

At the end of May 2012, the USPS announced they will layoff 45,000 employees.  It’s part of the plans to layoff 150,000 employees by 2015.  Also in May, USPS announced they would try and cut back on working hours, hoping to prevent closing down anymore post offices and distribution centers.

The United States Postal Service does not make money off taxpayers, they are solely funded by the postage they charge (prices are controlled by Congress, not USPS), and other products they sell.  The cuts being made to the USPS will have no affect on U.S. government (taxpayer) debt.

 

Business/Economics, International, U.S.

What Economic Recovery? President of Argentina dumps U.S. dollars. Pesos more profitable, or just another sign of Hyper Inflation?

“I’ve just had one fixed term account in dollars for some time, and I’ve decided to put it in pesos, it’s more profitable to have it in [Argentine] pesos.”-Cristina Fernandez, President of Argentina

7 June 2012, la Presidenta also urged “…any officials who’ve got a few little dollars to do the same thing.”

Argentina is the number three economy in South America.  However, having a booming economy has resulted in an inflation rate around 9 to 10%!  The result is that many people, and banks, in Argentina are buying up U.S. dollars to try and hedge against hyperinflation.

Argentines have been there done that many times before.  Many people bought U.S. dollars to survive Argentina’s notorious hyperinflation in the past, but this time the U.S. economy is in the toilet, so buying up those gringo dollars might be a bad move.

 

 

Business/Economics, U.S.

Government Incompetence: Vacuum cleaner causes fire that results in $400 million repair bill for U.S. taxpayers!

It turns out that a “massive” fire on a U.S. Navy nuclear submarine, on May 24,  was caused by a vacuum cleaner!  It burned for several hours and sent several personnel to the hospital. The sub was docked at the Portsmouth Naval Shipyard, in the U.S. state of Maine.

Now comes the news that the fire was caused by a vacuum cleaner “…stored in an unoccupied space…”, and that the “…initial rough repair cost…” will be $400 million plus 10%!!!

And guess who pays for the U.S. Navy’s mistakes?  The U.S. taxpayer!

At least the Russian’s claimed their recent submarine fire was an act of sabotage by U.S. agents.

Business/Economics, U.S.

What Economic Recovery? Best Buy founder jumps ship, hopes his leaving will help company recover!

“There is an urgent need for Best Buy to reinvigorate growth by reconnecting with today’s customers and building pathways to the next generation of consumers.”-Richard Schulze, founder of Best Buy

7 June 2012, founder and boss of Best Buy for 36 years, Richard Schulze, has resigned.

Best Buy has been struggling with falling sales, and accusations of inappropriate behavior by members of the board.

A former CEO of Best Buy is accused of “…violated company policy by engaging in an extremely close personal relationship with a female employee that negatively impacted the work environment…”-Best Buy statement

Best Buy suffered a 26% drop in net income for the 1st quarter of 2012!

Business/Economics, International, U.S.

World War 3: U.S. ally, United Kingdom, slams U.S. focus on Asia Pacific as new area of global conflict. Bad economy to blame!

On 4 June 2012, an official representative of the Queen Elizabeth II’s Royal Military, criticized the plans of the United States, to send 60% of U.S. naval forces to the Asia Pacific region by 2020.

Armed Forces Minister, Nick Harvey, stated that the Royal Navy, let alone other European navies, will not be ready to pick up the slack in the Atlantic, by 2020.

The United Kingdom has been slashing and burning its military budget.  The Ministry of Defence revealed that in the past three years $26.2 billion USD of military equipment has been scrapped!

Harvey said it will take time to rebuild their navy in order to fill the void when the U.S. sails most of its fleet to Asia:  “When we’re back in the carrier strike game we could pull more weight, [but] if Europe is to take more responsibility, we’ve got some way to go.”

Business/Economics, U.S.

What Economic Recovery? British government cuts services, then charges British taxpayers for Queens Jubilee! Royal parasite family just lost the British economy $1.8 billion+!

5 June 2012, the government of United Kingdom has been slashing and burning social programs, yet charges the taxpayers for the Queen’s Jubilee!

While the people of Britain have been told that austerity measures are necessary, they were forced to pay at least $1.5 million USD so that the Queen could celebrate 60 years of rule!  The $1.5 million is the estimated amount coming from the Sovereign Grant Fund, as reported by The Guardian.

The Sovereign Grant Fund is what the British subjects (taxpayers) pay to the Royal parasite family. You could call the Royal parasite family the wealthiest welfare recipients in the world!

Queen Elizabeth II is not a figure head, and any public ceremony held for the Royal parasite family is paid for by taxpayers!

Private donations also pay for the Royal parasite family’s public parties.  According to estimates reported in The Guardian, donations paid for $16.2 million USD of the jubilee expenses.

Local governments forked over an average of  $700,000 USD to support the jubilee.

Then there’s the “extra costs” caused by the fact that most businesses were closed for the jubilee.  One estimation says the extra “bank holiday” could end up costing the British economy $1.8 billion USD!

Back in March, the Bank of England warned of economic doom because of continued support for the Royal elites.  So much for the Royal parasite family being of any benefit to the people of Britain!

 

Business/Economics, International, U.S.

What Economic Recovery? Emergency meeting Group of 7! “Impossible” to save Spain! Major credit freeze coming, just as Toyota warned!

“It is really hard in Spain to get a job right now because there are no jobs, and if somewhere you might have a chance, they do not want to pay what is more or less normal. Plus, everything is so expensive: supermarkets, food… Everything is really difficult now.”-Ada Adon, unemployed in Madrid, Spain

 

It has been revealed that the seven top industrialized countries (Group of 7, aka G7) had been in an emergency phone conference since late last night Japan time, early morning U.S. time!

Finance and banking officials from Japan, United States, Canada, Britain, France, Germany and Italy were discussing the global economic situation, a sign that things are getting worse!  The focus is on the European Union (EU).

No joint statement was issued, but Japan’s Finance Minister, Jun Azumi, said all efforts at the moment will focus on preventing a total collapse of the EU.

A German analysts said many investors are on the verge of giving up: “History is repeating itself, we are again in full crisis mode. Last year: crisis; this year: crisis.  The politicians have learned nothing. It would be so easy though. The ECB [European Central Bank] should massively intervene and buy time for countries like Italy and Spain so that they can pursue reforms. Nobody can bear this cacophony, this waiting, this riding out any more.”-Robert Halver, Baader Bank

This comes before the G20 meeting, and it comes on the same day Spanish officials announced a possible second credit crisis.

Spanish Treasury Minister, Cristobal Montoro, admitted on Spanish radio that it was “technically impossible” to save Spain’s economy!

It turn’s out that the recently created EU European Stability Mechanism (a bailout fund) doesn’t have enough money to bailout Spain, let alone other EU members!

Montoro blames high interests rates for crashing the Spanish economy, as well as other EU economies. He says the result will be another huge credit crunch.  On 31 May 2012, Toyota of Japan signaled such an international credit crisis by announcing it was selling $2.5 billion USD in bonds, to raise cash in order to ride out a second coming credit crisis (of course the U.S./British media misreported it).