Tag Archives: economy

Business/Economics, International, U.S.

What Economic Recovery: “Developed Country” status for Japan to end, could officially regress to “Less-Developed”

The Japan Business Federation’s 21st Century Public Policy Institute is warning of not only a collapse of the Japanese economy, but a regression to “less-developed” country status.

That would put Japan behind India, as India’s economy counties to boom.

Analysts blame Japan’s fall on an ongoing population exodus, and money exodus, both caused by the March 2011 natural and ongoing nuclear disasters (gee, maybe nuclear reactors are not good for the economy?).

The analysts say that even in the good scenario, Japan’s economy will shrink drastically and by 2050 will drop to 28th in world Gross Domestic Product rankings.

However, the analysts say one way the government can slow the fall, is to drastically increase taxes!  That seems counter productive, as I think it would cause even more people to leave Japan (as is happening in the United States).

By the way, Japan is a member of the Trilateral Commission (Europe, North America, Japan/Asia), whose goal is to establish a singular privatized government system that is seemingly created in response to severe economic and “natural” disasters.

Fukushima

One Year Later: Big Exodus continues; most number of people flee Japan since 1950!

April 17, 2012, Japan’s Internal Affairs Ministry reported a record drop in Japan’s population.  The exodus started as a result of the March 2011 nuclear disaster at the GE designed Fukushima Daiichi power plant.

As of October 2011, 259,000 people fled Japan.  Percentage wise it’s not much, only 0.2% of the total population of Japan, but still a record since 1950.

It’s not just people who live near the disabled nuclear power plant who’re leaving; 40 of the 47 prefectures are experiencing exodus.

Japan is also experiencing the biggest number of foreign residents leaving.  By October 2011, 51,000 more foreigners left, than those who were moving to Japan.

Business/Economics, International, U.S.

Government Incompetence: Yet again, Record number of people renounce U.S. citizenship. IRS blames elected officials. Where to get official advise for kicking the U.S. citizenship habit

“Americans abroad are terrified. We’ve had people pay tens of thousands of dollars in fines. We’ve had people … pay huge amounts of back taxes. Up to this point, we never heard of anyone renouncing, or if they did, they didn’t talk about it, now we’re seeing a lot of people speak openly about it and come to us for information.”-Marylouise Serrato,  American Citizens Abroad

April 17, 2012, according to the Internal Revenue Service (IRS) National Taxpayer Advocate’s Office, 1,788 people renounced their United States citizenship in 2011.

That’s another record.  The National Taxpayer Advocate’s Office has been keeping track since 1998, and it’s been going up every year.

However, the U.S. Department of State keeps their own records of who gives up U.S. citizenship, and they say it’s been a steady average loss of 1,100 people every year.  Still not good if the United States is such a great place to live; 1,100 people give it up every year, that’s 11,000 people in the past ten years.

The number one reason for leaving the land that’s no longer of the free is taxes!  If you know your U.S. history, taxes were the number one reason for the 1776 Revolution that created the U.S. of A.

In fact one of the rallying cries for the Revolution was “No taxation without representation!”   We’ll that’s exactly what’s happening to the approximately 6.3 million U.S. citizens living in other countries, they’re being taxed and fined more than if they were living in the U.S., and they have no true representation in the U.S. government.

Another problem is that foreign banks say the U.S. government is interfering in their business so much that it’s not worth it to take on U.S. customers: “They’re going to drop Americans like hot potatoes. The foreign banks are upset enough about the regulations that they’re saying they just won’t keep American customers, and it’s giving (Americans living abroad) a lot of sleepless nights.”-Francisca N. Mordi, American Bankers Association

Even the IRS’s National Taxpayer Advocate’s Office blames the U.S. government: “The complexity of international tax law, combined with the administrative burden placed on these taxpayers, creates an environment where taxpayers who are trying their best to comply simply cannot. For some, this means paying more U.S. tax than is legally required, while others may be subject to steep civil and criminal penalties. For some U.S. taxpayers abroad, the tax requirements are so confusing and the compliance burden so great that they give up their U.S. citizenship.”

A major problem with the U.S. tax law is that not only does the U.S. citizen have to report their own income and assets, but they must report the income and assets of their non-U.S. citizen spouse: “When they decide to come clean and report everything, they have to go ask their husbands for all of their bank information, retirement funds, and investment accounts, everything. Your options are to ignore the IRS and stick your head in the sand; take your name off of all the accounts and live in a completely cash economy; divorce; or renounce U.S. citizenship.”-Lucy Stensland Laederich,  Bordeaux Women’s Club

“I grew up in a military family where patriotic feeling was very strong. I’m amazed at how terrible I felt renouncing. But it was the only way to get them off my back. It’s very distressing and time consuming to keep up with all the paperwork. But if it’s this bad when I’m 64, how bad will it be when I’m 74?”-Genette Eysselinck, renounced all ties with the United States

But don’t think renouncing your U.S. citizenship will solve your tax problems, in fact they could get worse: “First of all, there is over a 2 year wait in several countries. Secondly, you are still liable for taxes for the next 10 years. Finally, on the day that you renounce your citizenship, you are considered by the IRS to have made a fictive sale of all of your assets worldwide, and you will be taxed on that sale.”–American Women’s Club Düsseldorf

For an idea of what it takes to officially/legally renounce your citizenship, you can check out the U.S. embassy website in Germany here.

International, U.S.

What Economic Recovery? IMF accepts Chinese Yuan policy against U.S. dollar, Japan loans IMF billions to bail out Europe, IMF says it’s not enough!

April 15, 2012, Japanese Finance Minister Jun Azumi, announced that Japan will lend $50 billion USD to the International Monetary Fund (IMF) to help bail out the European economies.

The IMF says at least $500 billion USD is now needed to bail out Europe!

On April 14, IMF managing director Christine Lagarde, said she welcomes the Chinese Yuan:  “I would like to welcome this important step by the People’s Bank of China to increase the flexibility of their currency. This underlines China’s commitment to re-balance its economy toward domestic consumption and allow market forces to play a greater role in determining the level of the exchange rate.”

The Bank of China said it will allow the value of the yuan to fluctuate by at least 1%, against the U.S. dollar, when international markets open on Monday.  Up ’till now the Chinese central bank has allowed only a half percent fluctuation.

However, some analysts say allowing the value of the Chinese yuan to fluctuate more could result in even more volatility/instability for world markets.

 

Business/Economics, International, U.S.

Global Economic War: Israel sues Bank of America

Israel’s Bank Hapoalim has filed a $720 million USD lawsuit against BoA.

Officials with Bank Hapoalim says BoA lied about the mortgage securities it sold to Israel.  BoA is also accused of violating its contracts regarding the sale of those securities.

Bank Hapoalim suffered more than $1 billion USD in losses in the 2008/2009 mortgage/credit crunch fiasco.

 

Influenza

H1N1: More cases & deaths in India. British politicians cut health budget, the result is more deaths. Canada, Mexico & U.S. to create cross border Flu response

In a case of government incompetence, the Indian state of Karnataka has decided it was time for family doctors to start addressing the rising cases of swine flu.  This after confirmed cases hit 126 on April 12, 2012.

“The role of general practitioners is important now because treatment can be effective only if it is started on time. We have adequate stocks of Tamiflu, the only anti-viral drug for A(H1N1) and vaccines. But the medicines can be effective only if they are administered on time.”-Chandrashekar Malagi, State Health Department

Seven people have died in the state of Karnataka.

In another example of local government incompetence, state health officials have decided against H1N1 screenings at the Bengaluru International Airport!

Most airports in India are screening for the virus, that’s because the whole country is experiencing an epidemic of H1N1.

However, the government of India is trying to calm the public by saying the worst is over, at least in the district of Pune (state of Maharashtra): “It is true that the positive cases are lesser in past few days in Pune district. This is in line with reports that virologists and experts had arrived that the surge in cases is likely to abate in 2-3 weeks.”– Pradeep Awate, Central Health Ministry

The Indian state of Gujarat has just reported its 6th case of H1N1.

In the city of Nashik, state of Maharashtra, two people died.  City health officials are taking no chances there, opening six new H1N1 screening centers.

47 people have so far been screened in Nashik, 11 are now in the hospital.

In Mumbai, state of Maharashtra, a 23 year old woman died on April 13.

On April 5, 2012, it was reported that British health officials’ lax response to H1N1 outbreaks resulted in more deaths that during the 2009-2010 outbreak!

The report blamed British politicians who said public health funding was a waste of money and cut the budgets!  The result of the budget cutting is; 10% more hospital admissions, 30% more deaths, and 30% more ICU admissions.

On April 4, 2012, officials from United States, Canada and Mexico announced they are working together to create a cross border flu response system.

“…the three countries will work together and with international organizations to develop guidance for influenza surveillance systems for select animal species, as well as guidance on the characterization, case definition, and reporting of novel strains, and on triggers for public health response.”  also “…exploring new financing and procurement mechanisms, investments in new and more flexible technology and manufacturing platforms, and coordinating plans for preparedness exercises. The plan also touches on sharing best practices for stockpiling.” also “…identify legal and regulatory challenges for helping each other with personnel and medical countermeasures in a public health emergency.” -CIDRAP

 

Influenza

H5N1: Deaths in Egypt, more dead birds in Hong Kong, Vietnam tests new vaccine, USDA approves new vaccine

On 07 April 2012, a 36 year old woman went to an Egyptian hospital and died the same day.  She tested positive for H5N1.

She is the 5th Egyptian to die from H5N1 this year.  So far there have been nine confirmed human cases of H5N1 in Egypt this year.

In Hong Kong, at the beginning of April, a dead oriental magpie robin tested positive for H5N1.

Vietnam began testing the second dose of a new vaccine on 08 April.   1,000 volunteers from the provinces of Thanh Hoa and Ha Nam are taking the vaccines, they got the first dose in March.

The Vietnamese Army Medical Institute will make final analysis of the vaccine, according to European standards.

The U.S. Department of Agriculture has approved a new vaccine for poultry.

The vaccine maker, Ceva, says Vectormune HVT AIV vaccine has been tested against several types of bird flu viruses in different parts of the world: “Our research revealed such outstanding potency features and flexibility that we believe this vaccine can dramatically help in improving the control of Avian Influenza.”-Yannick Gardin, Ceva Santé Animale

 

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

Oil & Gas Prices: New oil spill in Gulf of Mexico. Oil market bubble bursting? Blame War for your high prices! U.S. backed Oil War continues in Sudan. India #1 buyer of Iranian oil

“The U.S. Coast Guard is conducting an over flight assessment for a report of a rainbow sheen approximately one mile by 10 miles spotted near the Mississippi Canyon block 807 in the Gulf of Mexico……trying to identify the responsible party.”-Petty Officer Bill Colclough, U.S. Coast Guard

April 12, 2012, the USCG is investigating a report, by Royal Dutch Shell, of an oil spill located between two Shell off shore platforms, near the U.S. state of Louisiana.

Shell says it is not coming from its Mars and Ursa rigs.  It could be natural seepage.

The International Energy Agency says international oil stockpiles are so high, and demand is so low, that it expects oil prices to continue to drop.

Isn’t it funny how not even a  year ago the oil industry “experts” kept telling us that demand was still high, and that we could expect $150 per barrel, or more?

“Easing first quarter 2012 fundamentals have seen prices recently lose most of the $5 per barrel they gained in March. The muted impact so far is partly because much of this extra supply has been stockpiled on land or at sea.”-IEA statement

But don’t expect lower gas prices, as the Organization of Petroleum Exporting Countries said, the Northern Hemisphere summer driving season is always used as an excuse to raise prices: “U.S. oil demand remains a key uncertainty to the existing demand assessment. The upcoming driving season might be affected by high retail gasoline prices and the pace of the economic recovery.”-OPEC statement

The International Energy Agency says consumers can blame the high fuel prices on wars and rumors of wars: “We cannot discount the possibility that prices will remain high so long as geopolitical uncertainties remain.”-IEA statement

Sudan launched an offensive to re-take the largest oil field from South Sudan: “Within the next 72 hours, we shall have pushed all of their troops out of our territories.”-Rabie Abdelaty, Sudanese spokesman

The Heglig field produces about 60,000 barrels per day.  Last week U.S. supported South Sudan captured the Heglig.

India has just surpassed China, as Iran’s number one oil buyer.  In the first quarter of 2012 India imported 433,000 barrels per day from Iran.  China’s import rate for Iranian oil was only 256,000 bpd.  That’s according to  Petrologistics.

It could be that China had made a huge oil deal with Russia, but now Russian courts could threaten that deal.

Russian prosecutors are investigating the 30 year deal, over a discount giving to China.  That discount results in a reduction in profits, over the 30 years, of $3 billion USD.  Many Russians are not happy about that.

China imports 300,000 bpd from Russia’s Eastern Siberian oil fields.

 

 

 

 

Business/Economics, International, Technology

World War 3: Iran reveals military upgrades; stealth detecting radar, laser targeting and gatling guns

April 11, 2012, Iranian military officials announced their indigenous tank, Zolfaqar-3, has been upgraded with the latest in laser targeting.

The Zolfaqar tank (not to be confused with many other Iranian weapons using the same name) was developed over the decades by experimenting with U.S. M60 tanks, British Chieftain tanks and Soviet/Russian T-72 tanks.

The production version looks a lot like the U.S. M1 Abrams but armed with a Russian 125mm auto-loading main gun.

It probably uses the same “chobham” armor that the British Challenger tank uses, as it was Iranian engineers who developed it and then requested the British company Vickers to make them a new tank with it.  That tank became the Challenger, but it never made it to Iran because of the 1979 Revolution.

The Zolfaqar-3 reportedly weighs 36 metric tons (39.6 tons) and has a 780 hp diesel piston engine (the U.S. M1 has a 1,500 shp turbine/jet engine which uses diesel).

Iran has built their own version of the M134 Minigun.  The Iranian gatling gun fires 7.62mm bullets (not sure if its x39mm, or x51mmNATO, or x54mm) at a rate of 4000 to 6000 rounds per minute (it’s designed to take out a lot of troops in one pass).

Iran announced this weapon in 2010, but they are claiming that all their military units, designated to use the minigun, are now equipped with it.

Iran has also developed a radar system designed to detect stealth aircraft. Iranian media reported that the radar can detect aircraft with a “very low radar cross section”.

The new radar is called Samen, and is due to begin operations by March 19.

 

 

Business/Economics, International, Technology

Iran major exporter of Cement & Carpets

“Today our country has become a main exporter of cement. By launching the second phase of Orumieh cement factory, Iran’s cement production capacity increased by one million tonnes!”-Mahmoud Ahmadinejad, President of Iran

With the end of the Iranian year (on March 19, 2012) came news of increased exports of products other than oil, and despite U.S. and European sanctions.

Cement and clinker (a kilned then quenched cement product) has increased 17.44% and reached 10,119,780 metric tons (11,154,960 tons)!

In August 2011, Iran became a world exporter of cement.

In March 2012, Iran revealed it had developed “smart cement” which could withstand the impact of a bunker busting bomb. The smart cement was originally developed to counter the shaking of earthquakes, which Iran is prone to many.

Hand made rugs are one of Iran’s biggest sellers.  In the United States they’re called Persian rugs.

An estimated 1.2 million people in Iran are employed in the hand made rug industry.  They produce five million square meters of carpets, 80% are exported!

In the past year Iran exported $560 million USD worth of Persian rugs.