Tag Archives: economy

International, U.S.

Argentina says slave trade being run by U.S.

Argentina is demanding help from the United Nations, in helping to fight slave trades, run mainly by organizations from the United States.

Argentina claims that U.S. organized crime is using Argentina as a recruiting grounds, and transit point, for human trafficking.  Poor people are promised well paying jobs in the U.S., but end up working for little pay, if any, and long hours.

The workers, men, women and children, not only work in industries like textiles, but, according to the U.S. Bureau of Statistics 80% end up as sex workers in the United States.

Other countries that are destination points for human trafficking are Germany, Italy, Netherlands, Belgium, Israel, Japan and Thailand.

Business/Economics, International

Made in Germany hits record high

China is the number one exporter, which country is number two?  Germany.

Germany continues to do well when it comes to exporting its products to other countries.  So well, that it’s hit a record of 98.3 billion Euros (U.S. $140.9 billion) in exports for the month of March: “That was the highest monthly figure recorded for both exports and imports since the collection of foreign trade statistics had started in the Federal Republic of Germany in 1950.”-Destatis, German National Statistics Office

 

 

Business/Economics, International

Chinese are big spenders in France, Russians close behind

In another sign of who’s got the money, for the second year Chinese tourists have topped the list of biggest spenders in France.

The study was done by the UN World Tourism Organization.  Recently the Japanese, in their own study, found that Chinese tourist were the biggest spenders there.

The study showed a 60% increase in Chinese visiting France, from 2009 to 2010.  Spending also went up by 35%.

Russian tourists are the second biggest with number of visitors, and spending, in France.

 

Business/Economics, International, U.S.

Iran joins China in blaming U.S. Federal Reserve quantitative easing policy for bad economy

Iran is joining China in blaming the U.S. bank, Federal Reserve, for destroying the world economy.

Iran’s President Mahmoud Ahmadinejad, says the “paper money” policy of the Federal Reserve is playing a part in the increase of poverty around the world, by forcing most international trades to use U.S. dollars.  He says the Federal Reserve injected into the world economies $32 trillion in “worthless” paper money.

President Ahmadinejad believes the Federal Reserve policy is part of a plan that forces poorer countries to pay the debts of the West.

Fukushima

Another nuke plant in Japan leaking radiation

Japan Atomic Power Company said its Tsuruga nuclear plant leaked a small amount of radiation on Sunday, 08 May 2011.  But this is not the first time.

On 02 May radiation was detected outside the reactors.  JAPCo officials think the radiation leak is coming from the cooling water for the fuel rods. They are shutting down the plant to inspect.

Tsuruga nuke plant is in Fukui Prefecture, directly west of Tokyo.

Fukushima

More Strontium detected at Fukushima Daiichi! Government may start checking surrounding areas

Radioactive strontium continues to be spewed from the damaged Fukushima Daiichi nuclear plant.  Soil samples taken at the plant, on 18 April, tested positive for strontium 89 and strontium 90.

Strontium collects in your bones and can cause various bone cancers.  You get contaminated by breathing it.

Tokyo Electric Power Company says April’s strontium 90 levels are 130 times higher than the levels detected in March!  The levels of strontium 89 are 4,400 becquerels per kilogram of soil!

Because of the increase in strontium levels, officials in the Japanese government are advising that readings need to be taken in areas outside the Fukushima Daiichi plant. Once again, you’d think  they’d already be doing that.

 

Fukushima

Chubu Electric decides to shut down nuke plant, Japanese auto & electronics industries will be hit

After first saying no, CEPCo now says OK they will shut down their Hamaoka plant.

Prime Minister Naoto Kan asked Chubu Electric Power Company to shut down their Hamaoka nuke plant, because the plant sits on top of a convergence of fault lines, that could produce an 8+ quake.  The plant is not built to withstand such a quake, and the Japanese government wants the plant operators to reinforce the reactors.

The problem for CEPCo is that they have no way to replace the electric power that will be lost when they shut down the reactors.  The Japanese auto industry, and other manufacturers, are worried because they are already dealing with supply problems due to lack of electricity.  The shut down of Hamaoka nuclear plant will only make the supply situation worse.

CEPCo officials say that, so far, they can not come up with any practical alternative to replace the lost electrical power.

Toyota, Honda, Mitsubishi and Suzuki have factories in the prefectures that will be affected by the nuke plant shut down.  Also, electronics makers Panasonic, Toshiba and Fujitsu have factories that will be affected by the shut down.

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

China continues to sell off U.S. bonds

China is the biggest buyer of U.S. sovereign debt (bonds), but has been selling off that debt at a steady pace. In February China sold off $1.15 trillion (yes, trillion) in U.S. bonds.

Chinese officials say the sell off of U.S. bonds could continue for another two months, or as long as the Federal Reserve continues with its quantitative easing (QE) policies.

According to the U.S. Treasury Department, China holds $4.47 trillion in U.S. sovereign debt.  China wants to cut it to less than $1 trillion.  Even then, Chinese officials say holding that much U.S. debt is only good for the short run.  I guess they don’t think the future looks very bright for the United States.

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

China refuses to pay U.S. debt

“The U.S. wants China to pay its economic bills by raising the value of the yuan. This is preposterous!”-Zhang Yansheng, Institute of Foreign Economics

Officials from China and the United States are meeting this week to discuss, what else, economic issues.  Many U.S. officials want the Chinese to raise the value of their money, the yuan, in order to help the U.S. dollar.  But the Chinese say bullsh*t!

Ma Xiaoye, of the China Foundation for International & Strategic Studies, says U.S. leaders created the economic problems, so “How can the U.S. count on a foreign currency to solve them?” Zhang Yansheng added “The U.S. should take responsibility for its own policies, instead of asking China to pay for it.”

The U.S. wants China to raise the value of their money, against the U.S. dollar, to help fight inflation in the United States.

Chinese analysts say the problem is that every time the Federal Reserve implements a quantitative easing (QE) policy, it sends “hot money” into the world economy creating “market bubbles”, which is what China does not want.

Maybe if the Federal Reserve stops issuing money that really isn’t there, the Chinese might decide to raise the value of their money.