Tag Archives: economy

Fukushima

Government & Corporate Incompetence: After months of expelling radiation into the environment, Fukushima Daiichi officially in Cold Shut Down

Tokyo Electric Power Company officials say that on 16 December 2011 (the day the U.S. Postal Service will be in official default) they will declare the Fukushima Daiichi nuclear plant in Cold Shut Down mode.

The Cold Shut Down could be officially announced by Prime Minister Noda Yoshihiko.

Of course this is after they let millions and millions of becquerels of radiation pour out into the air and water, along with the radioactive remains of the melted fuel rods!

Cold Shut Down means that the water being used to flush out, I mean, ‘cool down’ the reactors remains below boiling point, which is an indication that most of the fuel rods are used up.

There must be so little left inside the reactors that the temps have come down. I guess that’s one way to do it, I personally like the way the Soviets handled Chernobyl: Sand, lead and concrete.

Business/Economics, U.S.

What Economic Recovery? U.S. Postal Service forced to close hundreds of processing centers and thousands of post offices, Merry Xmas!

On December 5, the U.S. Postmaster General will announce detailed austerity cuts for the USPS.  This after the U.S. Congress decided to ‘delay’ any action on their part until after next year’s Presidential elections.  The move guarantees the demise of the USPS, because President Barack Obama set the default date for the Postal Service as December 16, 2010.

It’s expected that part of Monday’s announcement will include the closing of 250 processing centers across the U.S., as well as 3,700 post offices!  It could also mean the end of Saturday delivery. The austerity cuts would begin in the spring of 2012.  It’s a sure thing that mail service will be much slower as a result.

By the way, don’t think this is going to save taxpayers money, it wont. The Postal Service operates on money that comes from you and me buying postal products, not taxes!

Business/Economics, Idaho, U.S.

What Economic Recovery? East Idaho airline service shuts down, just in time for Xmas! No more taxpayer subsidy?

Beginning December 31, no more SeaPort Airline flights from Idaho Falls to Boise.

SeaPort Airlines only started the route back in July, and of course local east Idaho officials touted it as a sign of local economic recovery.  Airline officials say they will try to issue refunds for people with tickets for after the December 31 shut down.

SeaPort Airlines is based in Portland, Oregon.  The ending of their Idaho Falls route is a surprise, especially since on November 14 it was reported that they were in the running for a Federally funded route from Jackson, Tennessee, to Nashville, Tennessee.

So far there is no official explanation for the cancellation of the Idaho Falls to Boise route.  Could it have something to do with Federal lawmakers voting to eliminate airline subsidies for regional airport routes that are within a 90 miles (144 kilometers) radius of a major metropolitan airport?

 

 

 

Business/Economics, Idaho, U.S.

Occupy Corporate Prisons, United Police States of Corporate America! Protestors shut down Wells Fargo, because of direct links to corporate prisons, Idaho politicians in the pockets of corporate prisons

On December 2, protestors in Washington DC temporarily shut down the Wells Fargo office.  The reason is that Wells Fargo is a major player in financing corporate prisons.

The OWS protesters say banks like Wells Fargo are profiting from the contracted management of state ‘correctional’ institutes, such as GEO Group managing the Rivers Correctional Institution in North Carolina.

Wells Fargo also supports Corrections Corporation of America, which runs a prison in Idaho known as Gladiator School.

Wells Fargo is also the biggest bank in Idaho.  Reports say Wells Fargo owns 4 million shares in Geo Group, the second largest U.S. private prison corporation, and 50,000 shares in the number one private prison operator, Corrections Corporation of America (CCA).

Also of interest, Idaho politicians, most of them republicans, receive donations from CCA (supported by Wells Fargo).

Here’s a long list:

Eric Anderson (R): $250.00 in 2008

Steven R. Bair (R): $750.00 combined 2006 & 2008

Clifford R. “Cliff” Bayer (R):  $1,550 combined 2006 & 2008

Scott Bedke (R):  $500.00 combined 2006 & 2008

Maxine T. Bell (R):  $1,050 combined 2006 & 2008

Carlos Bilbao (R): $250.00 in 2008

Dianne Bilyeu (D): $250.00 in 2008

Max C. Black (R): $250.00 in 2008

Darrel Bolz (R):  $1,300 combined 2006 & 2008

Bert Brackett (R): $250.00 in 2008

Joyce M. Broadsword (R): $1,050 in 2008

Mike Burkett (D):  $500.00 in 2006

Dean L. Cameron (R): $750.00 in 2008

Marge Chadderdon (R): $250.00 in 2008

James W. Clark (R): $500.00 in 2008

Denton Darrington (R):  $800.00 combined 2006 & 2008

Bart M. Davis (R): $550.00 in 2006

W.W. “Bill” Deal (R):  $750.00 in 2006

Lawerence E. Denney (R): $750.00 combined 2006 & 2008

Julie Ellsworth (R): $250.00 in 2008

George E. Eskridge (R): $500.00 in 2008

Debbie Field (R): $250.00 in 2006

Russell M. Fulcher (R): $1,300 combined 2006 & 2008

Robert L. Geddes (R): $250.00 in 2006

John W. Goedde (R): $500.00 in 2008

Jim Guthrie (R): $500.00 in 2006

Jim Hammond (R): $500.00 in 2008

Phil Hart (R): $250.00 in 2008

R.J. “Dick” Harwood (R): $1,300 combined 2006 & 2008

Margaret Henbest (D): $300.00 in 2006

Frank N. Henderson (R): $750.00 combined 2006 & 2008

Brent Hill (R):  $300.00 in 2006

Mike Jorenson (R): $750.00 combined 2006 & 2008

Kate Kelly (D): $250.00 in 2008

Dirk Kempthorne (R):   $2,500 in 2006

Shawn A. Keough (R):  $1,500 combined 2006 & 2008

Richard D. Kirkham (R): $500.00 in 2006

Steven A. Kren (R): $500.00 in 2008

Raul R. Labrador (R): $250.00 in 2006

Dennis M. Lake (R): $250.00 in 2008

Brad Little (R): $750.00 combined 2006 & 2008

Patti Anne Lodge (R): $1,500 combined 2006 & 2008

Janice McGeachin (R): $500.00 in 2008

John McGee (R): $1,300 combined 2006 & 2008

Shirley McKague (R): $250.00 in 2008

Mike Moyle (R): $1,000 combined 2006 & 2008

Pete Nielsen (R): $300.00 in 2006

C.L. “Butch” Otter (R): $10,000 in 2006

Monty J. Pearce (R): $550.00 in 2006

Ken A. Roberts (R): $250.00 in 2008

John Rusche (R): $250.00 in 2008

Mack G. Shirley (R): $250.00 in 2008

Kathy Skippen (R): $800.00 in 2006

Elaine Smith (D): $250.00 in 2008

Dean E. Sorensen (R): $250.00 in 2008

Joe Stegner (R): $500.00 combined 2006 & 2008

Gerry Sweet (R):  $1,000 in 2006

Richard Wills (R): $250.00 in 2008

Chuck Winder (R): $250.00 in 2008

Fred Wood (R): $500.00 in 2008

Joan E. Wood (R): $250.00 in 2008

Becky Young (R): $250.00 in 2008

Not one Idaho third party candidate took money from CCA!

 

Business/Economics, International, U.S.

Global Economic War: Get ready for stocks to crash! China continues ping pong games with European & U.S. bail outs, now says No Way!

“The argument that China should rescue Europe does not stand, as reserves are not managed that way…China’s purchases of European bonds, International Monetary Fund bonds and U.S. bonds are also based on those principles.”-Fu Yin, Vice Foreign Minister of China

Back on November 28, the Commerce Minister of China, Chen Deming, said they were more than willing to save struggling economies: “Some European countries are facing a debt crisis and hope to convert their assets to cash and would like foreign capital to acquire their enterprises. We will be closely watching and pushing forward the progress.”

Now, December 3, an official higher up than Chen says no way.  The Vice Minister of China, Fu Yin, says China’s $3.2 trillion in foreign reserves should be managed under the principles of “safety, liquidity and proper profitability”.

Apparently bailing out the United States, European countries, or even the IMF, does not meet those requirements.

Fu restated a requirement for future bailouts, that Chen indicated a week ago; any bail outs must play by China’s rules: “Successful investment should be reciprocal.”

 

 

Business/Economics, International

Government Incompetence: 25,700 Brits froze to death because they could not afford to heat their homes! Charles Dickens where are you?

“According the national office of statistics, there were 25,700 deaths relating to fuel poverty in 2010-11, this is shameful. And sadly is likely to rise in line with the fuel poverty figure increase.”-Mike Jeram, UNISON, the U.K.’s biggest public sector trade union

According to U.K. government reports, the number of people who can not afford to heat their homes, called fuel poverty, makes up about one quarter of the British population, an increase from the previous winter.

“The government has yet again made false promises, as it looks likely to fail its legal duty to end fuel poverty by 2016….the government is pushing people further into poverty with its austerity agenda!”-Mike Jeram

The Institute of Fiscal Studies predicts that British households’ incomes in 2015 would be worse than their income in 2002!

Business/Economics, International, U.S.

Global Economic War: CELAC holds first summit meeting, the U.S. & Canada are not invited! “Death sentence” for the United States! IMF begging CELAC for money to bail out Europe. Get ready for Second Falkland Islands War!

“This is the achievement after 200 years of battle…The [U.S.] Monroe Doctrine was imposed here: America for Americans, the Yankees. They imposed their will during 200 years, but that’s enough…As the years go by, CELAC is going to leave behind the old and worn out OAS! [U.S. controlled Organization of American States]”-Hugo Chavez, President of Venezuela, December 3, 2011

“Today, we are going to give a death sentence to the Monroe Doctrine…that battle is culminating today with the creation of CELAC.”-Daniel Ortega, President of Nicaragua, December 3, 2011

CELAC was formed in February 2010.  On December 3rd, 2011, they held their first official meeting, and the Chinese were overjoyed: “I’d like to send my warmest congratulations. China is always looking to approach its ties with Latin America and the Caribbean from a strategic perspective and is willing to deepen dialogue, exchanges and cooperation.”-Hu Jintao, President of China, December 3, 2011

CELAC stands for Comunidad de Estados Latinoamericanos y Caribeños, or Community of Latin American and Caribbean States.  CELAC is made up of 33 countries from the America’s and Caribbean. It now dominates North and South American economic policies. The United States, Canada, and the European countries were intentionally left out.

“A union of Latin American countries is the weapon against imperialism. It is necessary to create a regional body that excludes the United States and Canada …therefore, it is the best time for prime ministers of Latin America and the Caribbean to gestate this great new organization without the United States to free our peoples in Latin America and the Caribbean.”-Evo Morales, President of Bolivia, February 2010

Even supposed South American allies of the U.S. are involved: “This is in our interest, not against the OAS or Iberoamerican Summit, this is integration between Latin America and the Caribbean. I laud the meeting as a step in the right direction for Latin America.”-Juan Manuel Santos, President of Colombia, December 3, 2011

The Mexican President, Felipe Calderón, had the honor of opening the CELAC summit with the first speech: “Today we continue in a long process that never before had managed to achieve the integration of Latin American and Caribbean countries!”

Almost 30 years ago Argentina lost a war to take back the Falkland Islands from the United Kingdom.  The islands are called the Malvinas in Argentina, and at Saturday’s first CELAC summit there was unanimous support for Argentina’s continued diplomatic efforts to take back the Malvinas: “The Argentine government has shown a permanently constructive attitude and willingness to reach, via negotiations, a peaceful and definitive solution to this anachronistic, colonial situation on American soil.”-CELAC declaration

The issue of the Falklands/Malvinas is even more serious as major oil reserves have been discovered there.

In a twist of irony, it’s been revealed that the U.S. controlled International Monetary Fund (IMF) has approached CELAC for loans to help bailout Europe!  Normally countries south of the U.S. border have always been stereotyped as beggars waiting for hand out loans from the IMF:  “This time, the IMF did not come to bring money but to ask for money! I would prefer to be a creditor than a debtor.”-Guido Mantega, Finance Minister of Brazil

“It seems like the tables have been turned. Latin American finance ministers used to shudder when IMF officials came to the region. And they were scolded, they were berated by IMF officials, who told them the way to do things… Now they’re the model of fiscal discipline and responsibility.”-Michael Shifter, Inter-American Dialogue

The President of the IMF, Christine Lagarde, was in Brazil, just before the CELAC summit in Venezuela. She admitted CELAC was the economic boss now: “It’s often the case that when one part of the world is not doing so well, the other ones are going to drive the bus and take the global economy forward.” 

 

 

Fukushima

Global Food Crisis: Fukushima needs help inspecting more than 24,000 rice farms, too much radiation, logistical nightmare!

The Prefectural government of Fukushima (where the spewing Fukushima Daiichi GE designed disaster reactors are) is asking the Japanese government for logistical help.

Fukushima officials said they want to test one third of their rice farms/crops for radiation contamination, after several rice crops came up highly radioactive. Here’s the logistical problem: One third of Fukushima rice farms/harvests amount to 24,000 crops!

Fukushima Prefecture asked the national government to provide devices to measure radiation, dispatch personnel to expedite inspections, and shoulder the cost.

Fukushima

Corporate Incompetence: TEPCo admits lack of communication caused Reactor 1 to melt down and explode, evidence it was a man made disaster!

On 02 December 2011, Tokyo Electric Power Company officials admitted that lack of communication resulted in Fukushima Daiichi’s Reactor 1 melting down and exploding, on 12 March 2011.

Former plant manager, Yoshida Masao (who recently resigned due to health problems, which might be caused by exposure to radiation, which TEPCo denies) said he, and other officials, were not told that Reactor 1’s cooling system was manually shut down.  He realized the cooling system was not working a little more than six hours after it had been turned off. By then it was too late.

Just a few days ago TEPCo admitted, after an independent investigation, that 100% of the fuel rods in Reactor 1 melted.

The irony is that Reactor 1 had the only operable cooling system after the 11 March earthquake and tsunami hit the nuclear disaster reactor plant.  Reactors 2, 3 and 4 lost their connections to electrical power, but Reactor 1 was still connected.

This could add some fuel to the conspiracy theories out there (that it was intentional, after all, look how long they’ve dragged this out!).

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho’s unemployed, and underemployed at record levels. More proof that college is a waste of money! And stop moving here, there are not enough jobs for you!

“It would scare the citizens to death and it would make the government look bad. The government wants to look as good as it can.”-Monte Munn, economics professor at Idaho’s Treasure Valley Community College

Munn is talking about the underemployment numbers, revealed in quarterly U-6 reports: “U-6 is a lot more accurate. U-3 greatly underestimates, or understates the real unemployment.”

Monthly unemployment numbers are called U-3, but underemployment is reported every quarter (along with the unemployment numbers) and is called U-6.

As far as the U-6 numbers go, the U.S. Bureau of Labor Statistics reports a seasonally adjusted October 2011 result of 16.2% for the whole country.  Idaho ranks in at 15.9% (according to overall 3rd quarter results)!

(The U.S. Bureau of Labor Statistics calls the ‘U’ measurments “Alternative Measures of Labor Underutilization”. Get it? ‘U’ for underutilization.)

Local Idaho media has been reporting fractional drops in a few monthly unemployment reports for 2011, but, when you look at the IDL’s U-6 yearly percentages, from 2008 to 2010, it’s clear both unemployment and underemployment have gone way up, and the few fractional monthly drops this year don’t mean a thing.

Underemployment numbers not only reveal how many people are working in jobs that don’t have benefits, or jobs that don’t match their level of education or training, but it also reveals the overall quality of jobs available.

The Idaho Department of Labor (IDL) admitted in a 2007 report, they can not count all college educated workers who’re underemployed, which means the actual numbers could be bigger: “…the number of employed job seekers with education who are looking for work is underestimated. Only those who have come through a Labor Department local office are counted, and clearly other employed workers with degrees are looking for better jobs but not through the Labor Department system.”-IDL, Measuring Underemployment in Idaho

 

Pocatello, Southeastern region of Idaho

The IDL just released U-6 data from 2008 to 2010.  By region South Central Idaho has a U-6 ranking of 20.8% making it the number one place for sucky jobs! Eastern Idaho comes in second at 18.3%!  Southeastern Idaho (where I live) joins North Idaho and North Central Idaho in the 14 percentile range.  Southwestern Idaho has the lowest U-6 at 11.7% (still bad).

The IDL even breaks it down by county, so if you want to see how bad your county is (and some counties have U-6 in the 20 percentile range!), then check it out for yourself.

An eastern Idaho TV station interviewed an IDL official, to get his take on why such high U-6 numbers. He blamed the high number of college edjumacated Idahoans, that right, too many highly qualified people living in Idaho: “…I think you would see more of our workers are underemployed, especially if they are zip code attached, where they want to stay here than to get paid more for their education elsewhere.”-Will Jenson, IDL economist

By “zip code attached” Jenson means Idahoans who go to college, find out they prefer the quality of life in Idaho and do not want to leave (I’m in that boat). However, there are very few jobs in Idaho that can pay enough to help you pay back the cost of your college degree.  The fact that there are so many highly educated people in Idaho should attract companies that need higher skilled workers, but, obviously from the U-6 numbers, it isn’t.

There’s another problem, that will eventually bring down the quality of life here in Idaho, people are flooding into the state.  According to the U.S. Census Bureau, the 2010 census count revealed that Idaho is the 4th fastest growing state in the country, at 21.1%.  Come on people, move somewhere else, there aren’t enough jobs here, let alone good paying jobs, for all you all.

As far as unemployed people getting unemployment help (insultingly called “benefits”!), according to the IDL, 11,800 Idahoans stopped receiving unemployment help this year.  Merry Xmas!