Tag Archives: economy

Fukushima

Government Incompetence: Japan announced beef was safe to eat, then once again, more cesium contaminated cows!

The day after the Japanese government announced it was lifting the contaminated cattle ban on Fukushima cows, four cows tested for cesium levels above safe limits.

Then, the very next day five more cows showed up with cesium contamination.

The contaminated cows had already been shipped to a slaughter house in Yokohama.  It was there that the beef was found to be highly contaminated.

To make matters worse, the cow farmers swear they were not feeding the cows local rice hay, but more expensive imported hay.  The imported hay had been stored indoors.

This means that the cows could be getting contaminated on their way to the slaughter house.  Officials are trying to figure it out.

And yes, the Japanese government suspended the lifting of the contaminated cattle ban.

Business/Economics, International, U.S.

No Economic Recovery for the U.S.: Paramount & Warner Bros make big bucks, overseas

Paramount and Warner Brother’s have both made U.S.$2 billion in profits so far this year, but not here in the U.S.

The two movie studios made those profits overseas.  They’re the first U.S. movie companies to hit such a high overseas profit.

If anyone has been paying attention to where U.S. movies are first released, they’d notice that U.S. movie premiers have been taking place overseas first, before being released in the United States.

 

 

International

Obama wants troops to stay in Afghanistan until 2024, Russia says it doesn’t make sense

Afghan officials have told British media that the U.S. and Afghanistan have agreed to keep thousands of U.S. troops in country until 2024!

The deal would allow U.S. forces to use Afghan military bases, provide facilities to store massive numbers of U.S. military equipment, and allow thousands of military personnel to stay, including special forces.

Russian officials pointed out that the deal doesn’t make sense: “If the job is done, if terrorism is defeated and peace and stability is brought back, then why would you need bases?  If the job is not done, then several thousand troops, even special forces, will not be able to do the job that 150,000 troops couldn’t do.  It is not possible.”-Andrey Avetisyan, Russian Ambassador to Afghanistan

The Russians should know, they got their butts kicked by the Afghans back when Russia was part of the Soviet Union.  They did exactly what the U.S. is doing now, trying to train up the Afghan government to take on the “terrorists”.  The Soviet Union left Afghanistan in 1989, but continued to supply weapons and trainers to the Afghan government.  The Afghan government lasted until 1992, brought down by a civil war that lasted until 1996.  The civil war ended in 1996 when the Taliban took control of the country.

Business/Economics, U.S.

What Economic Recovery? Hundreds of thousands of U.S. Postal Workers to be laid off, Union talks are focusing on how to soften the impact on those who will keep their jobs

“If we do that, it means lower costs – career people leave, more non-careers come in.  Much of that will be attrition, but I don’t know if we can do that fast enough.”-Patrick Donahoe, Postmaster General

The U.S. Postal Service is being forced to lay off so many postal workers that it’s asking Congress to cancel current Union contracts.   220,000 postal workers will be laid off by 2014.

The reality of the situation is forcing the many different unions, involved with the Postal Service, to scramble to negotiations, not to save those jobs, but to soften the impact on those who will keep their jobs.

Those unions are the National Association of Letter Carriers (NALC), the National Postal Mail Handlers Union (NPMHU), and the American Postal Workers’ Union (APWU).

Not only does the USPS want to get rid of 220,000 employees, but they want to shut down as many as 3,700 post offices, close at least 300 processing facilities, and consolidate as many as 20,000 delivery routes.

All that will affect those people who’re “lucky” enough to still have their jobs.  If the negotiations with the unions fails, then it’s on to arbitration.  USPS workers can not legally go on strike, because they are considered Federal employees.

One reason the USPS is short on money, is because the U.S. Congress essentially stole $75 billion from the Postal Service.  Congress said it was to cover the Postal Service’s portion of the Federal Employees Retirement System.  The Postmaster General was able to prove that Congress overcharged the USPS.  The U.S. Congress refused to refund the money.

Another reason is that Congress has refused to raise Postal rates to reflect the increased cost of operation.  It’s almost as if the U.S. Congress wants the USPS to fail!

The United States Postal Service does not make money off taxpayers, they are solely funded by the postage they charge (prices are controlled by Congress, not the USPS), and other products they sell.  The cuts being made to the USPS will have no affect on U.S. government debt.

Business/Economics, U.S.

What Economic Recovery? Obama orders a 5% reduction in government budgets

President Obama’s budget chief Jacob Lew has ordered government agencies to submit budgets that are at least 5% less than the past fiscal year’s budgets.

It was also suggested that the different government agencies find ways to cut another 10% through out the next fiscal year.  This is part of the Debt Limit Deal (Budget Control Act of 2011) passed a few weeks ago.

Business/Economics, U.S.

Dumb Americans: Most old people, on U.S. Medicare, don’t realize how much they actually pay out of their own pocket

A new survey shows that most U.S. citizens on Medicare don’t realize just how much they’re paying out of their own pocket.

The study looked at “specialty tier” drugs under the Part D prescription drug plan.  Specialty tier drugs are mainly expensive name brand drugs.

At least half the people surveyed thought only a co-pay was required. Specialty tier drugs require a co-insurance, not just a co-pay.  Also, most people greatly underestimated how much they would have to fork up out of their own pockets, even with the specialty tier coverage.

The study was conducted by NERA Economic Consulting.

 

Business/Economics, International, U.S.

What Economic Recovery? U.S. Foreign Exchange Student program really covert Slave Labor operation, no wonder Corporate America isn’t hiring

“Working hard, eight hours, we have no opportunity to speak at work.  If I speak, my supervisor comes to me and says, ‘Don’t speak anymore, or I’ll send you home.'”-Yana Brenzey, 19, of Ukraine, foreign exchange student

August 19, foreign college students are protesting in Palmyra, Pittsburgh and Philadelphia, saying the U.S. State Department student exchange programs are really a form of slave labor for U.S. corporations.

Friday’s protests are focusing on the candy maker Hersey, but other companies across the United States are involved.

Foreign students say the work programs that are part of the student exchange programs, do not provide them with money to help them with money to help cover their expenses while in the U.S. going to college.  Instead the corporations deduct from their pay all kinds of expenses, which leave the students with little or no money left over.  Essentially companies like Hersey end up with free labor.

Exchange students had to kick back upwards of $6,000 to the California-based Council for Educational Travel USA (CETUSA).

An organization called National Guestworker Alliance is helping foreign students organize the protests, and has even got federal officials promising an investigation. This after students in New Orleans reported being “made captive” by their employers.  Protests in New Orleans started on August 17, where’s the main stream U.S. media?

Most of the media coverage of these protest are in local newspapers.

 

 

 

 

 

 

Business/Economics, International, Technology

Global Economic War: Japan has a new agressive policy for acquiring Rare Earth Minerals

Japan says it will offer less developed countries money, and other aid, to help them develop infrastructure and industries, in exchange for exclusive mining rights for rare earth minerals.

China has been using the same tactic for decades.  Japan says they’re adopting such a policy in order to compete with China.

Rare earth minerals are used in high tech products like cell phones and hybrid cars.  Because of the rapid development of high tech devices, and the increasing global dependence on them, rare earth minerals could become the “oil” of the 21st century.

 

Business/Economics, International, U.S.

Global Economic War: Chinese economists continue to push their government to dump U.S. bonds, says the U.S. has passed point of no return, will continue on a downward spiral, Morgan Stanely agrees

“China should move progressively to cut its holdings of U.S. Treasury bonds and use it as leverage to ask Washington [DC] to further open its markets, including the high-technology sector, to Chinese investment.”-Xiang Songzuo, University of China

U.S. Vice President Biden is in China, trying to reassure the Chinese government that the U.S. will “…ensure the safety, liquidity and value of U.S. Treasury obligations for all of its investors.”

Chinese economist say it’s too late, the U.S. economy is too far gone: “But there is very little room left for the U.S. government to revitalize its economy.  Low growth and high unemployment will be regular features of the U.S. economy in the future.”-Wei Liang, China Institutes of Contemporary International Relations

Even officials with Morgan Stanely, an international finance company based in New York City, say the United States has lost all economic legitimacy: “The U.S. debt crisis has taken a serious toll on China’s confidence in Washington’s [DC] economic stewardship.  China is no longer willing to risk financial and economic stability on the basis of Washington’s hollow promises and tarnished economic stewardship.”-Stephen Roach, Morgan Stanley Asia

 

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

What Economic Recovery? Chrysler owner Fiat looking to move to Russia

“Fiat is intensively examining St. Petersburg along with Nizhniy Novgorod. No decision has been made yet. Most likely the Italian automaker will select a green field site. We expect that they will make a decision on the site in the fall.” –Dmitry Levchenkov, Russia’s Economic Development Ministry

Fiat, the owner of Chrysler, is actively looking to start factories in Russia, to build cars and spare parts.  The reason?  Car sales are booming in Russia.

Just in the first 8 months of 2011, Fiat saw a 59% increase in sales in Russia.  That’s impressive when you realize that most Russians are hesitant to own a Fiat: “Few Russian drivers opt for Fiat because the service and spare parts are difficult to find in Russia. However, if Fiat builds an assembly facility and handle the production and create a unique distribution channels with service centers its world popular five door hatchbacks could invade the Russian cities frequently.”-Alexandr Tsipin, journalist

Fiat has already made deals with Russian car maker GAZ.  Fiat hopes to build 120 thousand cars per year in Russia.

The major reason for Fiat’s huge jump in sales, they’re the cheapest foreign car in Russia.

I wonder what Fiat will do with it’s Chrysler operations in the U.S. and Canada?  Canadian labor unions have been warning that Fiat will shut down Chrysler factories.