Tag Archives: economy

Business/Economics, U.S.

Wall Street deliberately “Crashes the System” to control the government

“Anytime Obama tries to put forward a policy to reform the system, or to do something for increasing wages, Wall Street crashes the sytem.”-Max Kaiser, former stock broker

Ever wonder why the stock markets suddenly drop, for no apparent reason, or for very weak reasons?  Max Kaiser, a former stock broker, says it’s a sign that the United States is being manipulated by corporate America.

The reason that Wall Street wants to control the government, and the Federal Reserve, is to keep interest rates near zero, so corporations, and big speculators, can keep borrowing on the cheap.

“The cost for borrowing for hedge funds and players on Wall Street is actually negative 2% when you factor in all the subsidies, and give aways that the Obama administration has given the banking industry.”-Max Kaiser

If Kaiser is correct, then it means that corporate America is making money just by borrowing money.

 

 

 

Business/Economics, U.S.

Week of Action, Californians protesting bad jobs and budget cuts

“We are in the middle of a recession. We need to get out of the recession by moving forward with good jobs, not poverty jobs.”-Mike Chavez, Labor Expert

California has one of the highest unemployment rates in the U.S.; 12.3% as of March 2011.  In Los Angeles County it’s 12.6%.

State workers are facing benefits cuts up to 30%.  This week Californians are protesting the bad economy, and the state and local budget cuts, in a Week of Action.

“This is the 21st century, we need to go forward, not backward.”-protester

Fukushima

Fukushima Daiichi Reactor 3 still flooding ocean with Cesium!

Even after Tokyo Electric Power Company plugged a leak, Reactor 3 is still pouring water contaminated with cesium into the Pacific Ocean.

The water is pouring out of a pipe containing electrical cables, but officials still don’t know where the water is originating.  The latest tests of the ocean water showed cesium contamination at 620,000 times safe limits!

Fukushima

Fukushima Daiichi Reactor 1 springs mysterious leak, fuel rods fully exposed, melting!

Tokyo Electric Power Company says contaminated water is pouring from Reactor 1.  This after workers were finally able to enter the building and check gauges.  The gauges showed that despite hundreds of tons of water being injected, the water levels were low.

TEPCo suspected faulty gauges. Workers checked the gauges again, after more water was pumped in, and they discovered the water levels actually dropped.

Now officials are worried that the water could be pouring from a hole in the reactor itself.  When checked on the morning of 12 May, workers discovered the fuel rods fully exposed.   Water levels are a full meter (3.2 feet) below the rods!

TEPCo is pumping in water, but the Nuclear and Industrial Safety Agency believes rods have started melting.

Business/Economics, International

Argentina warns South Africa: WalMart will destroy your economy

“WalMart does not take ownership of the goods until a product is sold.”-Sofia Scasserra, FAECYS

At a labor conference in South Africa, the Argentine Federation of Commerce and Service Workers ( FAECYS ) warned of allowing WalMart to set up shop.  The warning wasn’t about labor issues, but supply issues.  They claim that since WalMart was allowed to operate in Argentina, the affects on business supply has almost destroyed the business middle class.

In Argentina WalMart operates a “spot sale” deal with its suppliers.  Basically WalMart doesn’t pay anything for the products it stocks, until they sell.  On top of that, WalMart takes three months to pay suppliers.

Another trick WalMart plays; it ships its own products in from China.  First the the products go to Brazil, then Argentina, thus avoiding tariffs.

In the case of home appliances is was discovered that WalMart forced suppliers to sell below their cost, and even give them to WalMart for free.

The result is that Argentine suppliers are going out of business.  And the result of that, is that small manufacturers in Argentina are going out of business as well.

 

International, Opinion

France learns hard leason: Tax breaks for the Rich do not work

One of the things pushed through by President Sarkozy, at the beginning of his term, was tax breaks for the French Elites.  Four years later those breaks have proven to be an economic failure.  Now Sarkozy’s own UMP political party wants to stop it: “This government has a tax policy which benefits only a minority, and tries to tax the larger sections of the society. I am against such taxes.”- Herve Mariton, UMP Ruling Party

The French elites got huge tax breaks and exemptions, while the average taxpayer saw their taxes increased.  The French pay more taxes than taxpayers in Korea, or the United States, according to the Organization for Economic Co-operation and Development.

One of the breaks for the rich is a cap on the percentage of tax they pay, no more than 50%.  The average French taxpayer pays more than that.  On top of that, the French elites were actually paid by the government, a kind of Earned Income Credit for the rich: “While 8 million French live on less than 10,000 Euros per year, the Law was helping the rich. Not only their taxes were reduced, but each of them, all 1,700 of them in total, each one was given 30,000 Euros as tax compensation.”-Roland Muzeau, Communist Opposition Party.

President Sarkozy sold his tax plan to the French people, as a way of energizing the French economy.  It didn’t happen.  Pro-elitists, and pro-corporationists here in the United States don’t think Sarkozy did enough.  They actually accuse him of being too socialist!

French officials say they will reform the tax laws by the end of this year, but critics point out that the rich will still end up paying less than the average worker.  Is it time for another “French Revolution”?

Fukushima, U.S.

U.S. nuclear plant under NRC scrutiny

The Brown’s Ferry nuke plant in Alabama, is under investigation by the Nuclear Regulatory Commission.  Investigators say a cooling system failure is of “high safety significance”.

Last October the plant had a cooling valve problem, in reactor 1, that cause it to shut down.  Operators say the valve is fixed.  But there are concerns especially since the Brown’s Ferry plant is similar to the GE designed Fukushima Daiichi plant in Japan.

Also, Brown’s Ferry Reactor 1 had been shut down for 22 years before being put back into operation in 2007.

 

 

 

Fukushima

TEPCo finds out hard way that it’ll take much longer to get control of Fukushima Daiichi

On 17 April, Tokyo Electric Power Company issued a plan to control the damaged Fukushima Daiichi plant.  That plan involved 51 steps, so far as of 10 May, only one is being done; the continued pumping of water to try and cool the reactors and fuel pools.

TEPCo admitted they did not expect such high levels of radiation inside the reactor buildings, and that has been the big hold up.  They can’t do much with such high levels of radiation.

Workers have finally entered the building of Reactor 1, but that is only to help with the water injection and cooling operation.  In other words, still stuck on step one of their 51 step plan.

Fukushima

Government instructs schools to simply bury their radioactive top soil! government experts have their head up their a…

Schools near the damaged Fukushima Daiichi nuke plant have found radiation contamination in the top soil of their playgrounds.

Normally you remove the top soil and have it hauled away in sealed containers, as nuke waste.  But that’s not what the Japanese government is suggesting.

School officials are being told by the government to simply bury the radioactive soil deeper in the ground.  They say by burying it 50 cm (19.6 inches) into the ground, it will reduce the detectable radiation by 90%.  The suggestion is being made by the Japanese Education and Science Ministry (can you believe that!).

Hello, what happens when a child digs it up?  Or a dog?  This sounds like an expedient way to simply reduce detectable radiation levels, it’s still there waiting for someone to accidentally dig it up!

What about water soaking down through the soil, eventually hitting the ground water?  It’s going to pass through the buried radiation contamination, dragging some of it along with it to the ground water.