Tag Archives: economy

Business/Economics, International, U.S.

Global Food Crisis: Japan now dependent upon other countries for fish, as much as a 74% increase!

25 May 2012, Japan’s Fishery Ministry reports a huge decrease in fish catches.  Blame the 11 March 2011 disasters.

The reports says the fishing industry in the northeast of Japan was hit hard by the disasters, and has not been able to recover enough to supply Japan with enough fish.  Supplies of local fish to Japanese markets is at about 78% of what it was before the disasters.

About 70% of the fishing boats damaged or destroyed have been repaired or replaced.

And don’t forget the fish that are radioactive.

As a result Japan has increased imports of Pacific saury (aka mackerel pike) by as much as 74%.  Oyster imports are up 20%.

 

 

Business/Economics, International, U.S.

Government Incompetence: U.S. Courts allow Japanese banks to do buisiness with Iran

On 17 May 2012, the Bank of Tokyo-Mitsubishi UFJ filed a suit against the U.S. government’s sanctions on Iran.

25 May 2012, the Bank of Tokyo-Mitsubishi UFJ said they’ve officially restarted transactions with Iran, after a U.S. court decided in their favor.

The whole thing was because of a U.S. federal judge deciding that Iran was responsible for the 1983 bombing of the USMC barracks in Beirut, after the U.S. invaded Lebanon.  Their is little evidence to back up such a claim. And by the way, shouldn’t the invader (the United States) by held responsible?

Attorney’s for Bank of Tokyo-Mitsubishi UFJ argued that the U.S. court ruling is not valid under Japanese law.

It’s estimated that the Bank of Tokyo-Mitsubishi UFJ handles 70-80% of Japan’s transactions with Iran.

Business/Economics, International, U.S.

Global Economic War: Japan & China drop the U.S. dollar, will use their own money for international transactions! Britain wants in on the deal!

26 May 2012, Japan and China could begin using their own money for international transactions as early as June.

The two countries have been working on a plan to conduct business with each other using the yen and the yuan, and avoiding international banks requiring the U.S. dollar.

Japan’s Kyodo News said Japan and China need to use their own money in order to reduce risks associated with exchange rate fluctuations in the U.S. dollar.

Japan’s NHK is also reporting that United Kingdom and Singapore want similar deals with China. This is an acceleration of the Chinese yuan as the new international currency, replacing the U.S. dollar!

Fukushima

One Year Later: Japanese lose faith in their government, more proof the UN reports are bogus!

“I can’t believe the government, I don’t believe the government! We have to protect ourselves, that’s what we’ve learned from Fukushima.”-Kubo Yuki, regularly tests her family’s store bought food for radiation

24 May 2012, CNN ran a short report chronicling the spread of radiation ever since the March 2011 Fukushima Daiichi nuclear disaster began.  CNN aired the report the same day the United Nations basically said the spread of radiation from Fukushima was not that bad.

“Never listen to what the government tells you, if you do you’ll pay!”-Yaegashi Ayako, lives with family in newly built apartment that is radioactive.

Yaegashi and her family want to leave, but government officials insist they are safe on the third floor.  It was local city officials who discovered that the foundation was radioactive. It was built with cement made from rock contaminated by fallout from Fukushima Daiichi.

As for Kubo Yuki, she shops for food at one of dozens of new small grocery stores that allow customers to check their food for radiation.

The CNN report is more proof that the UN reports are bogus!

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

What Economic Recovery? Desperate Mazda to sell out to Fiat, look out that Alfa Romeo might actually be a Miata from Japan!

23 May 2012, after losing it’s former supporter, Ford, Mazda is now desperate for help from a bigger car maker.  In steps Fiat.

Fiat already owns most Italian brands, like Alfa Romeo, Ferrari and Mazarati, and they’re majority owner of Chrysler.

NHK reporting that a deal between Mazda and Fiat would see the two seat Mazda roadster (known as Miata in the U.S.) being equipped with a Fiat engine and sold as an Alfa Romeo.

Mazda and Fiat would work together to produce more fuel efficient engines, and Fiat could incorporate Mazda technology into its Fiat 500 mini car.

Back in March, Mazda reported their fourth straight year of huge losses!

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

What Economic Recovery? HP to layoff up to 48,000 more employees! Texas to be hit hard? Idaho’s printer factory targeted? Blame lack of recovery in Europe!

23 May 2012, Hewlett-Packard (HP) is expected to layoff another 25,000 employees according to an unnamed source, reported in a CNN/Fortune article.

The original report of the 25,000 job cuts came from Bloomberg on 17 May 2012.  It includes about “…10,000 to 15,000 from Hewlett-Packard’s enterprise services group.”  HP’s enterprise services is headquartered in Plano, Texas.

However, on 16 May 2012, Business Insider reported that HP wants to layoff up to 15% of its employees. “Layoffs are going to be significant.” HP has about 320,000 employees, if they go for a 15% cut that’s 48,000 people losing their jobs!

The Wall Street Journal (WSJ) is reporting that HP will report huge losses after the stock markets close today, 23 May. The WSJ Market Watch is expecting HP to report a quarterly earnings decline of 27%, with overall revenues down by 5%.

Fox News reporting that HP is suffering from the bad economy in Europe, which makes up 37% of HP’s business: “The increasing uncertainty and resulting macro weakness in Europe will likely act as an ongoing headwind to growth.”-Chris Whitmore, Deutsche Bank Securities

CNN is reporting that “Many of the job cuts are expected to come from the printing unit.” Back in march, HP announced it was merging its computer and printer factories.  However, this is not the first time HP has combined computer and printer production.

The last attempt was made in 2005, and was reversed six months later.

According to the IdahoStatesman, more than 50% of HP’s Boise, Idaho operation is printing and imaging.  When the IdahoStatesman questioned HP’s Boise campus boss (back in March), he claimed he was unaware of the merger of computer and printer operations.

Hewlett Packard has been slashing and burning ever since 2009, when employees got a 5% pay cut.  Then in 2010, about 9,000 jobs were cut. In February 2012, 275 people lost their jobs due to the canceling of HP’s webOS.

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

What Economic Recovery? New U.S. tariffs on Chinese solar panels could be the final nail in the coffin for Idaho’s Hoku Materials

Troubled Hoku Materials polysilicon factory in Pocatello, Idaho, could be finally done in by the latest U.S. tariffs against Chinese solar panel companies.

Hoku Materials is a division of Hoku Corporation, which in turn is a subsidiary of Tianwei New Energy Holdings, which is an affiliate of China South Industries Group Corporation (CSGC).  Hoku Corp turned to China for financial help a few years ago, which is how it became a a subsidiary of Tianwei New Energy Holdings.

The Chinese companies were hoping to get around any possible future U.S. tariffs by taking over Hoku, but it’s now clear that was a wasted investment for them.

On May 17, 2012, the U.S. Commerce Department announced new tariffs on Chinese solar product makers, claiming that China dumped (sold for far less than what it cost to make them) their products on the U.S. market.

The new action, approved by President Obama, imposes tariffs of 31% or more on solar products coming from China. So far, Hoku Materials’ contracts for polysilicon are with Chinese companies only.  Despite several official start-up announcements, their polysilicon factory in Idaho has yet to actually start up!

Prior to the new U.S. tariff announcement, stock in Hoku Corp was trading at less than 30 cents per share.

GOOD AND BAD NEWS FOR IDAHO’S HOKU MATERIALS

Business/Economics, International, U.S.

World War 3: Money for Taliban coming from United States? 158 U.S./NATO troops killed. More airstrikes. Turkey to train police.

May 18, 2012, International Security Assistance Force (ISAF) said two U.S./NATO personnel were killed during a Mujahideen attack, in eastern Afghanistan.  ISAF SOP means they don’t give anymore info.

At least 158 occupying personnel, including 110 U.S. troops, 20 British soldiers and 28 soldiers from other occupying member countries, have been killed since January 2012.

In Maidan Wardak Province a U.S./NATO airstrike was called in after Mujahideen were spotted laying mines.  The airstrike took place at about 02:00 hours. According to local officials, the airstrike killed at least five Mujahideen, plus three were killed later on.

The Ministry of Interior Affairs of Afghanistan announced that 500 police trainees will be sent to Turkey for training.   The announcement was made after another group of 500 cops returned from the six months course in Turkey. So why is the U.S. there, and why is the U.S. spending tax dollars paying for police training?

May 17, 2012, the United States Treasury Department imposed sanctions on two people in Afghanistan, for supporting the Taliban with money. The sanctions are meant to target financial sources within the United States!

However, the evidence Treasury officials used was old.  The most recent money transfer was made in 2002, when one of the men was paid $500,000 USD to buy a factory.  The money supposedly came from Osama bin Laden.

Treasury officials also said that during the late 1990s to 2001, when the Taliban ruled Afghanistan, about $2.8 million USD was transferred out of European banks to the two men.  The two men acted as banks, in order for the Taliban government to avoid sanctions.

The sanctions against the two men are meant to block any transactions involving U.S. banks, or individuals living in the U.S.  In a round-a-bout way the U.S. Treasury has revealed that one major source of financing for the Taliban was the United States!

So far, no 24 hour, ISAF Joint Command Morning operational update for May 18, 2012.

 

 

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

What Economic Recovery? It’s official, Toshiba & Hitachi end TV production in Japan. Blame Korea, U.S. & digital broadcasting!

May 17, 2012, Toshiba announced no more TV set production in Japan, no thanks to competition from South Korea, and crashing sales in the United States!

Toshiba reported a $620 million USD loss for the past Japanese fiscal year!

The company also revealed that TV sales in Japan have crashed ever since television broadcasters switched to digital broadcasting last year.

Toshiba will continue TV production in factories outside of Japan.  Hitachi also announced they will end TV production in Japan, in September.

Business/Economics, International, U.S.

World War 3: Japan sues U.S. over Iran sanctions! U.S./U.K. media lie about Japanese bank freezing Iranian accounts!

May 17,2012, according to Japan’s NHK the Japanese bank, Bank of Tokyo-Mitsubishi UFJ, is suing the United States over a court order to freeze Iranian accounts.

Western media has been reporting that the Japanese bank has frozen the accounts, but that’s not what Japanese media says.  Bank of Tokyo-Mitsubishi UFJ filled the suit on May 16, but refuses to make any public comments.

The U.S. court order is not about current sanctions against Iran, but is an old civil suit claiming that Iran was responsible for the 1983 bombing of the USMC barracks in Beirut, after the U.S. invaded Lebanon.

The families of the killed Marines have been led to believe Iran should pay, yet there is no concrete evidence that Iran was behind it.  Lebanese who claim to be connected to the bombing say they were simply defending their country against the U.S. invaders.

Yasuhiro Sato, chairman of the Japanese Bankers Association, says any sanctions imposed on Japanese banks doing business with Iran, will cripple Japan’s struggling economy. So who are the sanctions really against?