Tag Archives: economy

Business/Economics, International, U.S.

What Economic Recovery? New Study confirms old truth; Wars Do Not create Economic Recovery!

A new study has confirmed what most economic historians will tell you; long term wars actually destroy your economy: “…the positive effects of increased military spending were outweighed by longer term unintended negative macroeconomic consequences.”

The latest study was done by the Institute for Economics and Peace.  But their study revealed that the War on Terror has been more damaging to the U.S. economy than expected, because it’s the first U.S. war in which taxes collections went down!  This means that while military spending went up, the tax revenues to pay for the military went down!

A long term war, with reduced tax revenues to pay for it has resulted in “…the U.S. having severe unsustainable structural imbalances in its government finances…” and “…major constraints on the economy and limited the scope of options that were available to policymakers…”

 

Business/Economics, International, U.S.

What Economic Recovery? Greece downgraded again, even with new bailout loan deals

Moody’s has joined Standard & Poor’s in downgrading Greece.

Last week S&P’s downgraded Greece to default status. Today Moody’s rated Greek bonds at C, saying risk of default is too high even with new bailout loans: “Moody’s believes that Greece will still face medium-term solvency challenges: its stock of debt will still be well in excess of 100 percent of gross domestic product for many years, the country is unlikely to be able to access the private market once the second assistance package runs out, and its planned fiscal and economic reforms will still face very significant implementation risks.”

 

 

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

What Economic Recovery? Idaho will lose hoped for Nuclear Industry jobs, Areva loses $3.2 billion!

French nuclear industry giant, Areva, announced record losses on March 2, 2012.  They lost U.S.$3.2 billion!!!

The loss is directly tied to it’s incompetent African uranium mining operation (which looks like they bought a pig in a poke).  The French government is investigating, because Areva is actually a French government corporation, and they used taxpayer money to buy the pig in a poke mine!

Also, since the March 11, 2011, nuclear disaster in Japan, which has resulted in about 90% of their nuclear plants shut down, orders for fuel rods made by Areva have crashed!

Also, Germany’s decision to end the use of nuclear power plants will result in 1,500 Areva employees losing their jobs in that country.

On February 28, 2012, Areva announced it was “indefinitely” suspending its planned uranium enrichment project in Eastern Idaho.  Its called the Eagle Rock project.  Local contractors were notified in writing about the suspension.

Areva is trying to get money from the U.S. government. They were trying for at least $3 billion, but now, with such huge losses that won’t be enough!

Eastern Idaho is desperate for good paying jobs, and a lot of hopes were riding on the Eagle Rock project.

 

 

Business/Economics, International

What Economic Recovery: City desperate for cash approves Marijuana farming

A city, trying to deal with more than 20% unemployment, has turned to allowing  cannabis for cash!

So far there’s no comment from the federal government, that’s because in this country growing pot is legal (within limits).

The country is Spain!  Officials with the city of Rasquera, in Catalonia, have signed a deal that’s estimated to bring in U.S. $1.6 million to their local economy!

But it’s not just marijuana: ”The produce will only go to members of the association and it won’t all be cannabis. There will be crop rotation with cereal and sugar beet.”-Bernat Pellisa, Mayor of Rasquera

The deal will make Rasquera the largest legal pot growing area in all Europe!

Business/Economics, International, U.S.

World War 3: Protestors in Saudi Arabia blow up major oil pipeline. Get ready for higher gas prices!

Anti-U.S. demonstrators have blown up a major oil pipeline in Saudi Arabia.

The anti-U.S./Saudi regime movement has been building since the beginning of 2011, yet ignored by the mainstream U.S. media (which has focused only on Libya and Syria)!

The pipeline is near the city of Awamiyah (Al-Awamia).  The city has seen increased protests, and increased brutality by the pro-U.S. Saudi regime.  Yet, no mention by U.S. media, or U.S. officials!

Since the beginning of February 2012, dozens of protestors have been arrested, and several killed. Awamiyah is a port city, on the Persian Gulf.  It is a famous tomato growing area, but is surrounded by oil pipelines.  More than 2 million barrels of oil pass through the area everyday!

Business/Economics, International, U.S.

World War 3: Argentina sanctions Britain, U.K. demands explanation, Pink Floyd says give Falklands back to Argentina

“Falklands should be Argentinian.”-Roger Waters, Pink Floyd alumni

Argentina’s Industry Minister, Debora Giorgi, has asked Argentine businesses to voluntarily sanction U.K. businesses. At least 20 major companies in Argentina, have been asked to stop buying products from the United Kingdom.

Giorgi reportedly said Argentina no longer wants to do business with “colonial” powers.

The move is significant, because Argentina now accounts for U.S. $642 million worth of exports from Britain. The U.K. is also the sixth largest investor in Argentina. In other words, Argentina is hitting the British in their money belt.

Of course, the U.K.’s Foreign Office summoned Argentina’s charge d’affaires for “an explanation”.   And yes, this has everything to do with the Falklands/Malvinas Islands, where a potentially huge oil deposit was discovered (and U.S. oil companies want a piece of the action).

Business/Economics, International, U.S.

Conspiracy to Privatize: Too Big to Fail European Banks get huge cheap loans as Greece is hung out to dry

While European and IMF officials continue to string Greece along, regarding bailout loans, Europe’s too big to fail banks get billions in easy money!

The European Central Bank (ECB) has just issued the equivalent of U.S. $712.4 billion in cheap loans!  ECB officials said it is to help improve liquidity in the markets.  But the same would happen if Greece was given bailout loans!

This is the second time the ECB has issued cheap loans to too big to fail banks!  In December 2011, the ECB issued U.S. $657.9 billion at 1% interest.  Again, this while the ECB and the U.S. based IMF strung Greece along.

Many Greeks now believe what’s happening to their country is a conspiracy to force total privatization upon them.

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

World War 3: Japan threatens to cancel U.S. F-35 deal!

The controversial U.S. F-35 Joint Strike Fighter is once again causing problems.  This time Japan’s Defense Minister, Naoki Tanaka, said no deal if there were anymore cost overruns, or delays in the F-35 project.

Japan had tentatively agreed to purchase four of the multi-million dollar aircraft.  Currently each F-35 cost $123 million!

But, recently the Obama administration suggested that, in order to cut the Defense budget, development and production of the F-35 should be delayed.  The F-35 has already see numerous delays over the past decade, and seen costs skyrocket.

Japan has yet to sign a contract to buy the F-35, but officials said if the price of the F-35 goes up, or it’s delivery date is delayed, they will not sign any deal to buy it.

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

World War 3: USAF cancels deal with Brazil, over new trainer/COIN aircraft. Will award contract to company that didn’t even take part in the competition!

The U.S. Air Force has canceled a contract with the winner of a competition for the USAF’s new trainer aircraft.

Brazil’s Embraer Defense and Security, along with U.S. company Sierra Nevada, won the contract for the counter insurgency (COIN) aircraft deal in December 2011, for the A-29 Super Tucano.

There are rumors that a company that did not take part in the bidding could get the contract.  Hawker Beechcraft has filed a lawsuit over the whole issue.

The decision to cancel the contract with Brazil could be more about the growing power of the South American country, and its membership in CELAC.

Don’t think awarding the contract to Hawker Beechcraft would create more U.S. jobs. Officials with Sierra Nevada said the contract would have allowed them to hire 1,200 people in Florida, compared to 1,400 with Hawker Beechcraft.

 

 

International, U.S.

Return of the Cold War: Russia’s Putin says it must be so, in order to stop the insane paranoid United States!

“It seems that NATO members, especially the United States, have developed a peculiar interpretation of security that is different from ours. The Americans have become obsessed with the idea of becoming absolutely invulnerable…..absolute invulnerability for one country would in theory require absolute vulnerability for all others. This is something that cannot be accepted.”-Vladimir Putin

On February 27, 2012, Vladimir Putin published a 6,060 page statement.  In it he basically said that Russia will return to a Cold War with the United States!

Even analysts in Russia say Putin’s latest statement is worrying.  It has a lot of the usual anti-U.S. language, but it’s the first time Putin has actually indicated that a return to the Cold War is necessary.

“This is deeply concerning, since it creates the impression that chances for improvement in U.S.-Russian relations will diminish….in his view America is to blame for everything that’s going wrong in the world today, even terrorism, and Russia must prepare itself to act as a counterbalance to the U.S.”-Dmitry Suslov, Council on Foreign and Defense Policies

Putin does blame the U.S. for terrorism, even implies that the U.S. is terrorism: “Russia will always call things as it sees them…”

Putin says the difference between Russia and the U.S. is that Russia wants to be part of the New World Order, but the United States wants to control the New World Order!

He also warned of war with Iran: “…Russia is worried about the growing threat of a military strike against Iran. If this happens, the consequences will be disastrous. It is impossible to imagine the true scope of this turn of events.”

Putin’s 6,060 page statement was published in RIANovosti (in English), and on his website.