Tag Archives: economy

Business/Economics, International, U.S.

What Economic Recovery? Bank of America announces more layoffs, 40,000+

“You’re definitely going to see decreased service levels for consumers. They’re talking about either closing branches or reducing the head count in the branches.”-Christopher Whalen, Institutional Risk Analytics.

The largest bank in the United States will make it official, they will layoff 40,000 or more employees, over the next couple of years.  The official announcement is expected to take place on September 12.

Bank of America is struggling with the slow U.S. economy, and major lawsuits, including a lawsuit by the Federal government, relating to dodgy mortgage-backed securities issued by its subsidiaries, Countrywide Financial and Merrill Lynch.

B of A claims it lost $9 billion during the second quarter of this year, and is selling half of its stock in the China Construction Bank to raise about $8.3 billion in cash.

 

Business/Economics, International, U.S.

What Economic Recovery? U.S. citizens moving to Europe, say there’s no more opportunities in the United States

“I’m doing it as an exit strategy of sorts. I like knowing that I have another place to go if things get even worse here, or if I just get tired of running on the American mouse wheel.”-Amber Alfano

According to a Florida media source, the number of U.S. citizens who want to move to Europe has skyrocketed. The number one reason is economic: “With an EU passport, I can live and work in 27 countries. With a U.S. passport, I can live and work in one.”-Suzanne Mulvehill

Many U.S. citizens can qualify for European citizenship, if a parent or grand parent was a European national.  It’s estimated that more than 40 million U.S. citizens are eligible for dual citizenship.

“It’s definitely a really good thing to have on your résumé with business going so global. I probably never would have done it if it wasn’t for the EU, but at the same time I’ve always been extremely proud of my Greek heritage.”-Lauren Berg

“I understand the impulse: You can get a better deal over there.”-Stanley Renshon, City University of New York

Attorney’s say the number of people wanting legal help moving to another country has definitely gone up: “I have to say that over the past few years, calls I never would have received before have been made to the office. It’s not like a tidal wave, but it’s certainly more substantial, and it’s remarkable.”-Sam Levine, immigration attorney

“My dad was actually the one who put a bug in my ear about the whole citizenship thing. He said that Europeans are more interested in the quality of life than the quantity, and that it was a good place to have and raise children because of the way their social systems work. I don’t care much about the child-rearing part, but I would gladly trade in some of my material possessions for a little flat, a scooter and more vacation.”-Amber Alfano

 

 

 

Business/Economics, International, U.S.

What Economic Recovery? Despite Mexican Civil War, Mexico is the number one destination of U.S. citizens escaping the United States

“We’ve seen an increase of almost 40% in the number of American citizens making inquiries about the requirements for moving to Mexico. There are definitely more Americans emigrating to Mexico…”-Mexican Consulate in New York

In 2009, Mexico became the number one country of choice for U.S. citizens trying to escape the economic and political madness of the United States.

In the Fall of 2008 the one millionth U.S. citizen established residency in Mexico.  There are more U.S. citizens living in Mexico, than in Canada or the United Kingdom.

Foremost are the retirees, who can have a higher standard of living in Mexico than they could in the U.S.

Then there were the professionals who were sent here by their companies or were here on business.

Now there are people looking to live the ‘American Dream’ in Mexico: “My wife and I are both self-employed, so while we don’t make as much money as some of our peers, one of our currencies is freedom and the ability to work anywhere. We keep the focus on results with our clients, not where or how the work gets done. Two recurring themes from all the expatriates we meet here are opportunity and reinvention.”-John and Nicole Larson from Minnesota

A New York couple moved to Mexico just to have a baby, because of Mexico’s socialized health care system: “Top of the list is that the economic benefits of being here allow us both to spend far more time with our son Johnny than we would be allowed if we lived the same style of life back in New York.  We would both have to work full time and our child would be raised with home help and daycare. To be able to personally care for him and watch his daily development is a luxury that we fully appreciate, and it seems a more natural and beneficial way to live.”-John Rogers, moved to Merida, Mexico

It’s not just U.S. citizens, but Canadians and English speaking Europeans who are moving to Mexico, so much so that the Merida Literary Salon has been established, as well as the Merida English Language Library.

International

Global Economic Class War: Greeks rioting, armed with guns, Greek government close to default

September 10, tens of thousands of Greek protestors turned violent when they confronted Prime Minister George Papandreou at the Thessaloniki Trade Fair.

Greek police say the protestors are armed with sticks, stones and guns.  Six thousand police are guarding the Greek city of Thessaloniki.

There have been several reports out of Europe that say Greece has no choice but to default on its debts, this is because the latest bailout loan is still awaiting final approval.  If Greece doesn’t get the loan within days it will default.

 

Business/Economics, U.S.

What Economic Recovery? USDA says 17 million Americans going hungry

The U.S. Department of Agriculture says 14.5% of U.S. households don’t have enough food (food insecure).  That’s based on data for 2010, the number is little changed from 2009.

Of the 17.2 million households without enough food, about half (59%) get help from government programs.

There are 6.4 million households experiencing ‘very low food security’.  Very low food security means: “…food intake of some household members was reduced and normal eating patterns were disrupted due to limited resources.”-USDA, report summary

 

 

Business/Economics, International, U.S.

What Economic Recovery? Canada says U.S. citizens moving to the Great White North has doubled

“I’m looking for a quiet, calm, sane, civilized society to start the next phase of my life.”-Michael, from Michigan

Canadian officials say the number of U.S. citizens applying for temporary work visas doubled between 2008 and 2010.

Since the beginning of 2010 nearly 30,000 U.S. citizens moved to Canada, they make up the second-largest group of temporary workers in Canada, behind only Filipinos.

 

 

Business/Economics, International

Global Economic Class War: Greek Police, Firefighters & Coast Guard join anti-government protests

“The government has surrendered all sectors of public life to the country’s creditors. Everything is being demolished by austerity … All our hopes of recovery have evaporated!”-Christos Fotopoulos, National Police Officers’ Association

September 9, in the Greek city of Thessaloniki 5,000 police prepared for massive protests, the problem is that some of the Friday protestors are police officers!

At least 1,000 Police, emergency personnel and even the Greek Coast Guard joined the protests!

“Not only is it difficult, it is impossible to live on the wages we make.  And don’t forget we are also called upon to provide our services in other parts of the country….and we pay for that from our own pockets!”-George Drigakos, Coast Guard Union Representative

 

Fukushima

Sunflowers absorb radiation!

A Kobe, Japan, private-sector group announced the results of their studies on sunflowers in the contaminated areas of Japan.

They grew sunflowers in 4 fields in Minamisoma City, within 30 kilometers (18.6 miles) of the damaged Fukushima Daiichi nuclear power plant.

They found that soil contamination was reduced between 20% and 50%.  Radiation was absorbed by the sunflowers’ roots.  The problem is that the sunflowers are now considered nuclear waste.

Fukushima

Corporate Incompetence: Radiation pouring into Pacific Ocean three times greater than reported! Airborne radiation not monitored!

Researchers at the Japan Atomic Energy Agency, Kyoto University and other institutes say the actual radiation pouring into the Pacific Ocean, from Fukushima Daiichi, is at least three times what Tokyo Electric Power Company is officially reporting.

The researchers say that at least 15,000 terabecquerels (1 terabecquerel = 1.0 × 10+12 becquerels) of radioactive iodine-131 and cesium-137 has entered the ocean!!!  They say TEPCo is not monitoring airborne radiation that falls into the ocean.

 

Business/Economics, U.S.

Christian governor Rick Perry slashed and burned funding for Texas firefighters to save money, now Texas is buring to the ground at a cost of $5 billion+!

Texans are suffering the worst fires in Texas history.  Did you know that Governor Rick Perry slashed the state firefighting budget by 75%?

Earlier in 2011 Perry said he was planning on slashing funding for the volunteer fire department from $30 million down to $7 million!  Back in May, Forest Service Director Tom Boggus told Reuters that volunteer programs were the number one defense against wild fires.  Despite this, the Texas Forest Service is expected to see $34 million in cuts over the next two years, no thanks to Rick Perry.

Rick Perry recently tried to blame Obama for lack of funding for Texas firefighters: “It is not only the obligation of the federal government, but its responsibility under law to help its citizens in times of emergency.”

Perry’s cronies say their cuts are necessary to save money: “We understand the difficulty they have had in dealing with almost unprecedented numbers of fires this year. We also understand that in order to balance the budget, everybody needs to endure some reductions.”-Talmadge Heflin, Center for Fiscal Policy/Texas Public Policy Foundation

But get this, the ‘savings’ in cuts to Texas firefighting services have been totally negated by the cost of this year’s ongoing fires.   So far damages are estimated to be $5 billion, and counting!

And yet the historic fires of Texas aren’t enough to stop ‘christian’ Rick Perry from campaigning for President of the United States!