Tag Archives: economy

Fukushima

Government Incompetence: Japanese government focusing all resources on Fukushima, is this a case of too little too late?

Almost four months after the world’s worst nuclear accident, is the Japanese government finally taking serious action in Fukushima Prefecture?

On 04 July 2011, the Japanese government announced they will take over all radiation monitoring in Fukushima, including the monitoring being done by Tokyo Electric Power Company.

This comes after growing complaints by residents of Fukushima Prefecture, that the government wasn’t doing enough.  Already several cities have begun their own decontamination efforts.  One city, Date, said they were going to bill the government and TEPCo.

Residents are also upset about the government’s targeted evacuations.  They’re based on radiation levels, however there are different groups taking those readings, and it’s confusing residents.

Before the government decision to take over radiation monitoring, testing was being done by local governments, independent groups, universities and Tokyo Electric.  Residents felt it was about time for some standardization.

The Japanese central government will use their monitoring data to determine future evacuations.

Fukushima

National Government Incompetence: City 124 miles away from Fukushima contaminated, residents will conduct self monitoring

A group of residents of the city of Moriya say they will begin monitoring radiation levels, because the central government can not.

Moriya is 200 kilometers (124 miles) from Fukushima Daiichi nuclear plant, yet it is showing some of the highest radiation levels in the area.

Residents say when they approached the central Japanese government with their concerns, they were told their government was being overwhelmed by the nuclear crisis, and did not have the man power to conduct the radiation monitoring in their area!

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

Rare Earth Minerals the ‘oil’ of the 21st Century. Who controls the most? Same old adversaries of the 20th Century

Rare earth minerals will become the ‘oil’ of the 21st century.  That’s because they’re used in high tech electronics, and the more the world becomes reliant on electronics, the more valuable rare earth minerals become.

In fact, some analysts say some of the current wars raging on the African continent are all about control of rare earth minerals.

Here are some examples of rare earth minerals: Dysprosium is used in electric motors for vehicles, and Terbium for the latest televisions.

Who’re the biggest controllers of rare earths?  Why they’re the same major players of the Cold War in the 20th century: Russia (the boss of the Soviet Union during the Cold War), China and the United States.

However, China actually controls 90% of the production/refining of rare earths.  This is where their true power comes in.

Rare earth minerals are so important that the Japanese University of Tokyo spent a lot of money conducting a search for other sources of rare earths.  Their target search area was the Pacific Ocean.  International law would prevent any monopolization by any country, of rare earths found in the Pacific Ocean.

They found plenty.  From 2000 samples taken at 78 locations, Associate Professor Yasuhiro Kato estimates there is 800 times the rare earths at the bottom of the Pacific Ocean, than there is on land.

They targeted volcanic vents on the Pacific Ocean floor.  Hawaii has a lot.  The problem is that most of the high concentrations are at depths of 3,000 to 6,000 meters (9,842 to 19,685 feet).  So there are technical limits to getting at the Pacific Ocean rare earths.

Fukushima

National Government Incompetence: Japanese city will decontaminate self, will send TEPCo & the national government the bill

The city of Date, 50 kilometers (31 miles) from the damaged Fukushima Daiichi nuclear plant, will undergo intensive decontamination.  This announcement comes after the central Japanese government announced the evacuation of 113 more households.

City officials, and residents, are not happy with the central government’s targeted evacuations.  Many residents want a mass evacuation, because radiation levels are on the increase all over the city.

To try and alleviate the concerns of the people living in Date, city officials have decided to undertake decontamination efforts, on their own.  They claim they will decontaminate every building and home in the city.  They also claim they will decontaminate the surrounding mountain sides.

How are they going to pay for it?  No worries, they plan on sending Tokyo Electric Power Company, and the central Japanese government, a huge bill.

Business/Economics, International

What Economic Recovery? Inflation hits makeup, Cosmetics prices to go up, up

Estee Lauder Group announced they will be raising prices on their various makeup brands by 8% to 10%.

Corporate officials are blaming the price rise on the increased cost of labor, and resources.

Estee Lauder Group is not the first cosmetics company to raise their prices.  Earlier in the year Christian Dior, Lancome, Biotherm, Chanel and others announced prices increases.

Business/Economics, International

What Economic Recovery? China reports slowdown in non-manufacturing

“We will continue to monitor the situation and evaluate whether this bodes a further slowdown for business activity and economic growth.”-Cai Jin, China Federation of Logistics and Purchasing

China continues to see evidence of economic slowdown, as the non-manufacturing sector shows slowed growth for second month in a row.

The slowdown in non-manufacturing (things like basic resources for bigger companies) is blamed on declining orders from the manufacturing sector.  Manufacturers are cutting back because of declining orders from their international customers.

China is the world’s second largest economy.  If the slowdown in their economy continues, it could be a sign that there is no global economic recovery.

Business/Economics, Opinion, U.S.

Declare Independence from Banks: Economist says Big Banks control the United States, revolution only answer

“People think jobs create wealth, they don’t, they don’t.  It is being done by capital instruments [loans].”-Rodney Shakespeare, Trisakti University

A British economist with Trisakti University, in London, U.K., says ‘wealth’ is now actually created by big banks, and the big banks totally control the U.S.

The ‘wealth’ is created by the interest and fees the banks charge on their loans (capital instruments), and their money is fake:  “The banks do not lend existing money.  They create money out of nothing.  They add administration costs and they add interest and then they lend it for anything.   And that is where you’ve gone horribly wrong.”

The real money, the ‘wealth’, comes from individuals, governments and corporations paying back the loans the got from the big banks.  Essentially the banks are making big money for themselves, from nothing (why else do they keep reporting huge profits in a bad economy).

Over the past few decades, big western banks have been gaining control by making as many people, governments and corporations addicted to living off of their loans.  A tiny elite of people are benefiting: “Of course the banks and financial elites think this is a marvelous idea, because it effectually means that all the time they can ‘cream off’ what is essentially a ‘tax’…”

There are two answers Professor Shakespeare suggested; share the ‘wealth’ by spreading the benefits of capital instruments (bank loans) amongst the people, or: “…an uprising against what could be summarized as ‘banker occupation’.  Until that happens there’s no chance of new thinking coming into being.”

I can only think of mass default on loans to be the most destructive way to rise up against “banker occupation”.  This would involve not only individuals, but governments and corporations as well.

Business/Economics, Idaho, U.S.

What Economic Recovery? Corporate officials used Idaho unemployment funds to float their companies

According to the Idaho Department of Labor, corporate executives based in Idaho, used unemployment benefits to float their companies (because of the bad economy).

The executives, who own their companies, would apply for unemployment benefits claiming they had lost their executive position.  They would then use the money to float the company that they held controlling stock in.  It was all legal.

As of now they can’t do that anymore.  Idaho lawmakers created a new law that says corporate executives applying for unemployment benefits must prove they have no ownership in the company they had worked for.  The new law affects about 30,000 executives in Idaho.

However, the new law allows corporate executives to stop paying into the corporate unemployment system.  In Idaho unemployment taxes are paid by employers, not employees, but employers can be eligible for a refund.

Business/Economics, Idaho, U.S.

What Global Warming? Cooler wetter weather damaging Idaho cherry crop, expect prices to go up

 

“We still have quite a few cherries (in this year’s crop), but it’s down from what I normally see. Maybe two-thirds of what we had last year.”-Paul Pinard, cherry farmer Emmett, Idaho

Because of a lack of global warming in the Pacific Northwest of the United States, there are going to be a lot fewer cherries, and a lot later.  The cooler than normal weather is affecting the $573 million cherry market.

cherry chubbuck

Chubbuck, Idaho, July 2, 2011

 

 

 

 

 

 

 

Last year, in Washington, Idaho, Montana and Utah, as many as 7 million boxes of cherries were packed.  This year the commercial cherry farmers will be lucky to get 2 million.

On top of that, cherry picking season ends in June, but not this year, many cherries aren’t even ready.

I can vouch for that.  I have a cherry tree, and I’ve been wondering what the heck is going on.  Not only have the cherries not fully developed, but they’re shriveling and dying.  Normally, by the end of May I’m swamped with too many cherries for me and my kids to eat, but this year…it looks like nothing.

shriveled cherry

Chubbuck, Idaho, July 2, 2011

 

 

 

 

 

 

 

Another factor in driving up prices for cherries, is that demand is up.

But it’s not just Cherries that are being negatively affected.  The asparagus picking started late, and northwest growers associations are reporting delays in melons, peaches and corn.

cherry pityful

 

 

 

 

 

So even if you try to grow your own, to keep from paying higher prices at he store, Mother Earth just won’t let it happen.

Idaho, Opinion, U.S.

What Economic Recovery? Idaho drug & prostitution crimes up

The Idaho State Police released the 2010 crime stats, and surprisingly the number of most types of crimes, statewide, went down, including violent crime.

But there was an increase in “crimes against society”, of which drug and prostitution crimes made up the most.  Crimes Against Society include drug crimes, prostitution, pornography crimes, weapons crimes and gambling crimes.

There was a 7.3% increase in overall Crimes Against Society in 2010, with drug crimes seeing a 8% increase, and prostitution seeing a 54.5% increase.

The top three drug crimes in Idaho are: Possessing/Concealing, Using/Consuming and Distributing/Selling, in that order.

Idaho saw not only an increase in adults being arrested for drug crimes, but juveniles as well.  There doesn’t seem to be a favorite drug, based on confiscation numbers.  Some numbers went down while others went up.

The ISP report doesn’t give much more information on prostitution crimes, other than demographic information (more men arrested than women).

I’m wondering if the increase in drug crimes, and prostitution, are a reflection of the bad economic situation in Idaho?  Crime reports don’t normally deal with the “why” of a crime, the Law doesn’t usually care about that.

For a detailed PDF of the report go to the Idaho State Police web site.