Tag Archives: economy

Fukushima

Radiation evacuations expanded!

About 90 households have been told they need to leave, because of increasing radiation levels.  The evacuation affects three districts in the city of Date.  The city is 60 kilometers (37 miles) from Fukushima Daiichi nuclear plant.

The Japanese government is trying to minimize mass evacuations by testing each residential property when radiation levels near unsafe limits.  The government explained the new evacuation determination to about 400 people in the affected districts.  If a residential property is determined unsafe then the people living there will evacuate, the government promises to provide support to them.

Most of the people at the meeting basically said they think they should just mass evacuate all the families, after all what if you live in a house next to another house that’s just been evacuated, but you’re told you’re going to stay?  The increasing, and spreading radiation levels shows that Fukushima Daiichi is still spewing radiation into the air.

Business/Economics, International

What Economic Recovery? China is a paper tiger, reveals $1.65 trillion in debt, get ready for Global Great Depression

A surprise announcement, China says local governments (cities, provinces and autonomous regions) have racked up $1.65 trillion in debt, threatening a new credit crisis.

The revelation came after the Chinese government conducted audits of local governments.  It seems the local governments are playing the same financing games that got the United States (and Europe) into its own credit crisis, which led to one of its worst recessions.

The local governments were using loan after loan on infrastructure projects and real estate development.  The audit by the Chinese government came as national leaders expressed concern over evidence of the skyrocketing number of potentially bad loans being held by Chinese banks (sound familiar?).

Is this the real reason China is dumping U.S. bonds, to raise cash to pay its debts?

Fukushima

Corporate Incompetence: TEPCo still can’t get its water decontamination system to work

For at least the third time Tokyo Electric Power Company had to stop water decontamination at Fukushima Daiichi, this time because pipes were leaking.

You might not think that’s such a big deal, but how does one ton of radioactive water leaking out within two minutes sound?  That’s what happened. But to make that worse it didn’t have to happen.  Turns out that TEPCo decided to skip what should have been a routine check of pipe fittings before starting the decontamination.  According to an NHK report, four kilometers (8 miles) of pipe were loose (that’s how you dump one ton of water in two minutes).

Fukushima

Radioactive Cesium still being found at Japanese waste incenerators!

A few months ago it was reported that waste incinerators (which is how Japan handles its trash) were finding high levels of radiation in the ash of the burned trash.  The disaster at Fukushima Daiichi was blamed.

Today, waste incinerators as far south as Tokyo are still emitting cesium through their exhaust stacks.  One incinerator in Edogawa ward registered 9,740 becquerels of cesium per kilogram!  The incinerator handles only household trash.  This is an indicator that cesium is still being spewed into the air, and it’s settling as far south as Tokyo.

Fukushima

Strontium 90 found in Pacific seabed!

For the first time strontium 89 and 90 have been found on the seabed near the Fukushima Daiichi nuclear plant.

Tokyo Electric Power Company tested the soil at the bottom of the Pacific Ocean, on 02 and 03 June 2011, at locations 20 kilometers (12 miles) from the nuke plant.

While this is the first time strontium has been found in the seabed, it is not the first time it’s been found in the water.

 

Business/Economics, U.S.

What Economic Recovery? U.S. Postal Service slashes retirement for employees, on the verge of insolvency, Congress wants to slash & burn the USPS

The USPS is in real bad shape, much worse than its counterpart Canada Post.

The USPS stopped about $800 million in contributions to its employee retirement plan.  This is an effort to prevent becoming insolvent, over a $5.5 billion employee health plan payment.

Also, USPS Inspector General David Williams, claims they were overcharged $75 billion for the Federal Employees Retirement System plan, and they want Congress to give it back.

On top of that, a bill has been introduced in Congress that would cut billions of dollars from the postal service, by reducing employees (even more than they have) and reducing hours by going to a five day work week (instead of the current six).  The bill is called the Postal Reform Act.  It was introduced by Kalifornian (sic) Darrel Issa.

The USPS lost $8.5 billion in 2010.  The United States Postal Service does not make money off taxpayers, they are solely funded by the postage they charge.  The problem is that Congress controls the postage they are allowed to charge, and so far Congress has refused to allow postal rates to reflect the actual operating cost of the USPS.

International, U.S.

Canada Sucks! USPS resumes shipping to Canada, Canadian government forces postal workers back to work with new law

The United States Postal Service announced it will resume shipping to Canada, on June 28.  The announcement followed the creation of a new law in Canada, which forces striking workers back to their jobs.

The USPS warns that there will be delays in getting mail to Canada, because a huge backlog of mail has built up.

The USPS stopped shipping to Canada after Canada Post locked out its union workers.  The Canadian government just passed a new law which makes it a criminal offense to strike.  Canada’s postal workers (called “posties”) now have the choices of going back to work, quitting or pay huge fines.

Members of Canada’s New Democratic Party admit it’s all about destroying workers rights: “…an indication of what’s to come for other public service workers who are unionized. … It’s also a signal from the Conservatives to all employers—in a union setting or otherwise—that it’s an open bar. They can start going after the acquired rights of their workers.”-Thomas Mulcair, Deputy NDP leader

The new law targets posties only, and is in effect until the end of a new four year contract that will be mandated by the Canadian government.  Any postal worker who does not comply can face a $1,000 per day fine, and union officials could be hit with $50,000 per day fines.

The new contract will greatly reduce wages and benefits for Canada’s posties.

Business/Economics, International, U.S.

No Economic Recovery for the U.S.: Toyota launches new car in India

Toyota announced the premier of a new car, not in the United States, but India!

The new car is a small low priced car called the Etios Liva.  It’s smaller than most Toyota sedans.  The price is about U.S.$9,000.

Toyota also announced that India was becoming its fastest growing car market.  The number of Toyotas sold in India, last year, was double the number sold five years ago.

 

Business/Economics, International, U.S.

No Economic Recovery for the U.S.: Nissan says U.S. no longer target car market, the money is in South America, China, India & Russia

Nissan/Renault announced they plan to expand their global market share by 8% (an increase of about 10 million cars by 2017).  How are they going to do that? Definitely not by selling more cars in the United States.

Nissan/Renault says it will expand sales in China, India and Brazil.  They will boost production in China and India, and build a new factory in Brazil, that will produce 200,000 cars per year.

They will also buy more than 50% stake in Russian car maker Avtovaz.

 

Business/Economics, U.S.

What Economic Recovery? California Dreamin’ turned into Hotel California nightmare, yet people are escaping

It’s now official, for the first time since 1850 the number of people moving to California has declined!  People are actually leaving!  That’s according to the U.S. Census Bureau.

California is still the most populated state: 37 million.

According to the Public Policy Institute of California, 1.5 million middle class people left California in the past ten years.  Where are the people leaving to?  Anywhere that the taxes and cost of living are lower than in California!  (mostly Texas, Colorado, Nevada and Arizona)

Immigrants now make up the majority of people moving to California.  But that is on the decline as well.  Why?  Most migrants from south of the border are saying they can’t find any work!  Those that have work say the cost of living in California is not worth it!

The problem now, is that California is becoming a state of extreme wealth and extreme poverty.  According to the American Human Development Project, the exodus of middle class Californians is creating a state of two classes; rich and poor.

From 2009 to 2010, California’s GDP was in stagnation mode; at 1.8%, lower than many other states.  By the way, when the media calls 1.8% “growth” it shows their economic ignorance.  Anything from 2.9% to 0% is not growth, it’s stagnation.

I luckily escaped California in 1997.  I’m now in Idaho, things are getting bad here as well (economically) but I’ve run out of escape money.