Tag Archives: economy

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

Global Economic War: Bolivia wants Iranian made Farm equipment

The South American country of Bolivia has sent a trade delegation to Iran.  They want the Iran Tractor Manufacturing Company to set up shop in Bolivia.

Bolivian officials say they’re impressed with Iran’s industrial advancements, despite all the decades of sanctions from the United States and Europe.

The building of an Iranian tractor factory in Bolivia, is part of the South American country’s agriculture modernization program.

Iran has economic agreements with numerous Latin American countries, like Venezuela, Bolivia, Cuba, Brazil and Ecuador.

Business/Economics, International

Global Economic War: Europe raises tariffs on Chinese products, again & again & again, now as high as 69.7%

Chinese officials say the latest round of tariff increases in Europe have essentially closed off the European market to Chinese businesses.

On September 15, the EU placed tariffs on Chinese flooring tile, as high as 69.7%!  This will directly affect more than 1,000 Chinese businesses!

Chinese officials say the Europeans are raising their tariff rates to protect European tile makers, who’ve seen a 40% drop in sales since the debt crisis began.  Europeans says it’s to make up for ‘dumping’ of Chinese products on European markets.

 

 

Business/Economics, International, U.S.

What Economic Recovery? Out of desperation the European Central Bank will start using U.S. dollars

Starting with the October 12, and then the November 9 and December 7 loan tenders, the European Central Bank will make U.S. dollars available for three-month loans.

The Bank of England, the Bank of Japan and the Swiss National Bank made similar announcements.  This is being done in coordination with the U.S. Federal Reserve (the privately run central bank for the United States).

The European banks will trade their money (Euros, Pounds, Yen and Swiss Francs) for U.S. dollars, for a fixed exchange rate.  This is an attempt to prevent money markets in Europe and Japan from locking up.

Business/Economics, International, U.S.

Corporate Incompetence: Bridgestone bribed government officials, got caught

The U.S. Department of Justice says Japanese tire maker Bridgestone has agreed to plead guilty to bid rigging, and bribing Latin American governments.

It involves giant hoses used to transfer oil from oil tankers to storage facilities.

The illegal practice of bribing and bid rigging went on for ten years, from 1997-2007.  Bridgestone admitted that it bribed government officials in Mexico and other Latin American countries to secure deals.  They are facing a fine of only $28 million.

Fukushima

Corporate Incompetence: Officials say nuclear disaster could have been avoided!

16 September 2011, the Japan Atomic Energy Agency says the disaster at Fukushima Daiichi nuclear plant could have been avoided.

They say if water injection began four hours sooner there would have been no melt downs.

Anyone who’s been following the situation from day one knows that Tokyo Electric Power Company has dragged their feet on just about everything connected to dealing with the disaster.  Especially at the beginning when it seemed that TEPCo officials just refused to believe that anything was wrong!

Of the plant’s six reactors, reactors 1 and 3 suffered meltdowns after losing cooling functions.

Reactor 2 suffered a hydrogen explosion on 15 March, which caused the release and spread of massive amounts of radioactive isotopes.

 

Fukushima

Government Incompetence: Radiation still being found at garbage incinerators across Japan

16 September 2011, ever since the Fukushima Daiichi nuclear disaster began, waste incinerator sites across Japan have reported high levels of radiation in the ashes of burned garbage and sludge.

The latest tests show three Prefectures still with levels of cesium contamination exceeding safe limits: Iwate, Fukushima and Chiba.

The highest measurement was 144,420 becquerels per kilogram at one facility in Fukushima!

The Japanese Environment Ministry realized that the incinerators reporting high levels of radiation contamination, are storing the garbage outside, where it can be contaminated by airborne cesium.  This is also an indicator of just how much airborne radiation is being spread across Japan.

The Environment Ministry has now decided to test all incinerators sites, that store the garbage outdoors.

Read more about incinerator contamination:

Cesium levels skyrocketing

Japanese waste incinerators

Mysterious radiation found

Business/Economics, Idaho, U.S.

What Economic Recovery? Idaho makes top ten foreclosure list, Bonneville County leads Eastern Idaho in foreclosures

“The big increase in new foreclosure actions may be a signal that lenders are starting to push through some of the foreclosures delayed by robo signing and other documentation problems.  It also foreshadows more bank repossessions in the coming months as these new foreclosures make their way through the process.”-James Saccacio, CEO RealtyTrac

The latest RealtyTrac survey put Idaho in the top ten for foreclosures.  One in every 348 Idaho homes were in foreclosure in August 2011. The report also says one in every 570 homes in the United States was facing foreclosure in August 2011.

The three most populous counties in eastern Idaho broke down like this; Bannock: 238 foreclosures.  Bingham: 132 foreclosures.  Bonneville: 320 foreclosures.

Nevada still holds onto the number one position for home foreclosures, for the 56th straight month!

California is number two with a 55% default rate, and one out of every 226 homes being foreclosed in August!

Arizona was number three for the second month in a row.

The rest of the top ten list is made up of Georgia, Idaho, Michigan, Florida, Illinois, Colorado and Utah.

 

 

Business/Economics, Idaho, U.S.

What Economic Recovery? Surprise Postal Service announcement, will close distribution centers not mentioned on public Post Office closing list. Poctello, Idaho, targeted

September 15, Pocatello, Idaho, to be hit by latest USPS closings.  Local postal workers told me that the Gateway distribution center, on Flandro Road in Pocatello, could be part of the surprise announcement made by U.S. Postal Service officials today.

This would mean all east Idaho mail would be shipped off to Salt Lake City, Utah, to be sorted.

I checked the USPS mail processing facilities list of closings, and the Pocatello distribution center is the only facility in Idaho on the list!

Postal officials say it will result in much slower delivery times.  That’s not all, the USPS is considering ending First Class letter service altogether!

Local postal workers told me they were notified yesterday, September 14.  This latest announcement of closings are for as many as 252 mail processing facilities (distribution centers), cutting 35,000 jobs, across the country.  They were not listed on the recent Post Office closing list!

Local postal workers also told me that they suspect the U.S. Congress is conspiring to fully privatize the Postal Service.  There is no reason for that, since the USPS does not get any taxpayer money!!!

The United States Postal Service does not make money off taxpayers, they are solely funded by the postage they charge.  The U.S. Congress controls what the USPS can charge, and, according to testimonies by the U.S. postmaster general, Patrick Donahoe, and Fredric Rolando, president of the National Association of Letter Carriers, the U.S. Congress has forced the USPS to over pay into several federal funds.

 

Business/Economics, Idaho, U.S.

Drug companies pay Idaho doctors big bucks

A ProPublica report shows more than 1,000 Idaho doctors were paid by 12 drug companies, to the tune of more than $2 million within the last year.  The Idaho Board of Medicine sees no harm in it.

Some of those payments were in the form of free meals (a Boise doctor got $607 worth) in exchange for attending seminars that pushed new drugs.  Others made money giving the talks at those seminars.  A Sun Valley psychiatrist made more than $100,000 for giving such talks.

The ProPublica.org report is part of their ongoing investigation into how Corporate America, and possibly your doctor, are ripping everyone off. Many people, who’ve left comments on the ProPublica story, expressed surprise to learn their personal doctor was on the list.

Beginning in 2013, drug companies are supposed to publicly report who they gave money to.

 

Business/Economics, International

What Economic Recovery? Spanish teachers and students protesting in the thousands

“Since the democratic transition in Spain, we have not seen such a hard attack on social services and essential public services. This is an attack by Madrid’s regional government against employment and public education.”-Cayo Lara

Spain’s attempts to pay down its debt has seen huge cuts to education spending, at least 13,000 temporary teachers will lose their jobs.

The public school system in Spain has never had a good track record: One of Europe’s highest dropout rates with nearly 30% of students under the age of 16.

More education strikes are planned for September 20 & 21.