Tag Archives: economy

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.

 

 

Business/Economics, International

World War 3: 26% of English support Scottish Independence! Spain supports Scotland! Argentina will back Scotland’s fight for Independence!

A survey by NatCen Social Research British Social Attitudes, shows that 26% of the English support the separation of Scotland from the United Kingdom!

But that doesn’t mean the English like Scotts, no, it shows there is growing hatred of them!

31% say Scotland should no longer be allowed to vote on English policies.  44% say Scotland gets too much taxpayer money.

Scotland’s Humza Yousaf, a SNP (Scottish national Party) MSP (Member Scottish Parliament) for Glasgow, says the English are Incompetent: “The idea that Scotland gets more than its fair share of U.K. Government spending is…factually wrong…”

However, Yousaf says: “Independence for Scotland makes sense for all the people of Scotland and England.”

Over to mainland Europe: Spanish Foreign Minister, Jose Manuel Garcia-Margallo, has confirmed that his country will vote for an independent Scotland to become a member of the European Union!

Then way down South America way, Argentina has voiced support for Scotland’s independence. President Cristina Kirchner might send an official delegation to help Scotland celebrate the 700th anniversary of the Battle of Bannockburn, marking the victory of Robert the Bruce over the English in 1314.

Some analysts say the move is a way for Argentina to cause trouble in England’s backyard, if war were to break out over the Falklands/Malvinas Islands.

Business/Economics, International

What Economic Recovery? & Corporate Evil: Nearly 1 million retirement plans destroyed, small companies could go bust

An investigation has revealed that investment firm, AIJ Investment Advisors Company, has lost most, or all, the money in retirement plans that affect more than 880,000 people!

More than half those plans are for people who’re still working.  The loss could actually force the companies they work for out of business!

Japan’s Labor Ministry says the Tokyo based investment firm lost the money belonging to 84 corporate retirement plans!  The majority of those plans  actually belong to medium and small businesses.

AIJ has been ordered to pay back those companies.  However, the Labor Ministry says if it can not, then under Japanese law those companies would have to come up with the retirement money on their own, and that could shut down some of the medium and small sized companies.

 

Fukushima

Official Independent Investigation proves Gross Government & Corporate Incompetence regarding Nuclear Safety in Japan!

“The direct causes of the nuclear accident were the unpreparedness of Tokyo Electric Power…and the government’s lack of a sense of responsibility.”-Kitazawa Koichi, lead investigator

A Japanese government sanctioned independent investigation has revealed gross incompetence in the wake of the March, 2011, nuclear disaster at Fukushima Daiichi.  It also says that Tokyo Electric Power Company made the situation worse!

Six investigators interviewed more than 300 people, including Japanese and U.S. government officials.  However, officials at TEPCo refused to co-operate with the investigators! They have just published their findings, 28 February 2012.

The report calls government response “off the cuff”, and “too late” (as I was posting last year)!

The nuclear power plant operator, TEPCo, was ill prepared for a nuclear disaster, despite decades of telling locals they were prepared (as I posted last year).

The Japanese government, especially the Nuclear and Industrial Safety Agency, failed to ensure the proper training for nuclear disaster response (as I posted last year).

The report also blames Japan’s complicated system of delegating authority and responsibility.  No one knew who was supposed to do what regarding the disaster; from top national government officials down to sub-contractors working for TEPCo (again, as I posted last year).

Things were so bad that local governments have been taking the initiative to try and deal with things like relocating residents, and decontamination efforts, with little help from the national government (again, I posted).

Also, many of the discoveries of radiation contamination came as a result of individuals and private groups, who took it upon themselves to pay for testing things like dirt, water, and even food, like beef, sold in grocery stores (again, I).

It was local governments who discovered farm crops to be contaminated (posted last year).

The report also says that information coming from the private sector to government officials was insufficient to make proper decisions. TEPCo officials simply dragged their feet when it came to dealing with specific issues, like cooling systems being shut down, and vents not being opened.

Not only did TEPCo drag their feet, but the investigators found that there was a back up cooling system that was functional, but TEPCo never used it!!!

Although Japan’s government has a crisis management policy, the investigators said it is totally useless!

 

Business/Economics, International, U.S.

What Economic Recovery? S&P’s declares Greece in default of debt! Proof that re-negotiating your debt won’t save you!

February 27, 2012, Standard & Poor’s declares Greece to be in default!  S&P’s blamed it on the debt restructuring deal currently being negotiated.

Greek officials say they were expecting it. Other credit rating agencies are expected to do the same thing.  This makes Greece the first European Union member to default.

S&P’s explained that loan contracts state that loan restructuring is condition for default status: “As we have previously stated, we may view an issuer’s unilateral change of the original terms and conditions of an obligation as a de facto restructuring and thus a default by Standard & Poor’s published definition.”

Business/Economics, International

What Economic Recovery: British officials admit there is no more money!

Chancellor George Osborne admits: “The British government has run out of money because all the money was spent in the good years, the money and the investment and the jobs need to come from the private sector.”

“Any tax cut would have to be paid for. In other words there would have to be a tax rise somewhere else or a spending reduction.  In other words what we are not going to do in this budget is borrow more money to either increase spending or cut taxes.”

Foreign Minister Jeremy Browne said: “Britain’s market share in the world used to be dominant but is now in freefall compared with the soaring economies of Asia and South America. This situation has been becoming more acute for years. It is now staring us in the face. So we need to take action”