Tag Archives: economy

Business/Economics, International, U.S.

World Bank & IMF not happy about economic situation

“We are one shock away from a full-blown crisis.” Robert Zoellick, World Bank President

The World bank is run by the United States, and if the current situation within the U.S. is any sign, then the world economy, influenced by the World Bank, is in trouble.

The International Monetary Fund is worried as well: “Especially because of youth unemployment… there is now a risk that this will be turned into a life sentence, and that there is a possibility of a lost generation.”-Dominique Strauss-Kahn, IMF chief

One analyst says fiscal and monetary policies might actually make things worse: “What they do is they very often pressure government to adopt what we call pro-cyclical policies. The economy’s weak and in recession, they want them to cut spending or raise taxes. And that can be very dangerous, I mean you can slip back into recession, you can make a recession worse.”- Mark Weisbrot, Center for Economic and Policy Research

Officials with the World Bank, and the IMF, say food prices, citizen security, justice and jobs, are the main issues for international economic stability.  Yet history shows that the policies of the IMF and World Bank actually cause some of the problems: “The International Monetary Fund and the World Bank say that they are interested in reducing poverty. All their actions however said otherwise. Their actions have instead raised the poverty level and created under-development.”-Andrew Garvin Marshall, Center for Research on Globalization

The president of the World Bank has always been a United States citizen, since 1944.

Business/Economics, U.S.

Economic Recovery? More Lies from the Lying Liars

“GDP that stems from new debt — mainly deficit spending — is phony: it is debt-financed consumption, not prosperity. Net of deficit spending, our prosperity is nearly unchanged from 1998, 13 years ago.”-Rob Arnott, Research Affiliates

Arnott says the Democrats and Republicans are to blame.  They continue to play games with the voters/taxpayers.  While tax revenues have steadily dropped since 1998, because of a bad economy, both major political parties just spend spend spend.

Yes, Arnott says the declining economy started back in 1998, it just didn’t impact the system until 2007, when the housing bubble burst.  One reason the Federal Government is having a problem with its spending is that our elected officials think our incomes are up, and as a result, tax revenues should be as well.  But they’re not; Arnott says tax revenues are at 1994 levels.

Arnott says part of the problem with the politicians is that current economic  statistics are flat wrong.  Economic stats, showing consumer spending and GDP, include deficit spending. In other words, credit cards and loans are being used to make it look like the average person has money.  And this has been going on for a while.

By using purchases made with credit cards, or loans, it makes it look like people have money, and that the economy is good.  These stats are used by our politicians to justify spending tax payer money.

When you throw out the debt spending by consumers, the real GDP figures show we’re stuck in the 1990s.  Arnott calls GDP minus debt spending “structural GDP”.  Also, he says government spending is another misleading factor used in GDP stats.  He says that should be left out as well, only private sector GDP should be looked at, and it’s not pretty.

Another analyst, Max Fraad Wolff, says historically countries go down the drain when their government debt gets close to its GDP levels: “We are approaching national debt on par with the total GDP of the country. This is very serious because most economic research suggests that countries tend to decelerate in their growth and have more and more severe economic problems, once their debt-to-GDP ratio gets above about 90 per cent. And we’re about to go through that level.”

Business/Economics, International

Iran says U.S. led military actions cause of World Instability, part of Control though Chaos

“Military buildup does not result in energy security, rather it causes instability in the energy market.”-Massoud Mir-Kazzemi, Iranian Oil Minister

Mir-Kazzemi says the West’s militant approach to world issues is the root cause of instability in the global energy market.  The U.S. does not have an interest in creating “win-win” situations.

Iran suggests that the situation in Libya is all about driving up the price of oil, in the interests of Western oil companies.  It is also true that non-western oil companies are benefiting as well.

Iran is the current President of OPEC.  The Organization of the Petroleum Exporting Countries was created in September 1960. The members are Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.

Business/Economics, International

Bike sales Triple

“I was in Tokyo when the earthquake hit, and everything stopped. Trains stopped, buses were in chaos and cars were jammed. Within that, you could just see bicycles swimming through. Some of our stores stayed open until 4 a.m. to meet the surge in demand.”-Susumu Shimoda, Asahi Co. President

Bicycle sales in Tokyo tripled thanks to the March 11 disasters.  People needed a way to get home after all normal modes of transport got shut down.

For the retailer Asahi, sales surged 200%.  It’s not just the disasters that are pedaling bike sales upward: “In addition to the disorder in the public transportation system, rising gasoline prices are also boosting the demand for bicycles.”-Akinori Sato, Daiwa Securities Capital Markets Company

Bike parts maker Shimano also reported increase in sales, as well as Taiwan bike maker Giant Manufacturing Company.


Fukushima, Idaho

Idaho Robots run into trouble in Nuke Plant

Tokyo Electric Power Company says high radiation levels, and high humidity, is slowing up robots being used to inspected the reactor buildings at Fukushima Daiichi.

In Reactor 2 building the humidity was so high it fogged the robot’s camera lens.

In Reactor 3, there is too much debris from the hydrogen gas explosion.  They will use another robot that can clear the debris, some of which weighs 100kg (220 pounds).

 

Business/Economics, International

For the first time since 1959 Cubans can buy & sell homes, get access to Credit

Cuban President Raul Castro announced that Cubans can now sell, and buy homes.  Up ’till now Cubans could only pass on their homes to children, or arrange complicated trades.

Raul Castro warned that Cubans will not be allowed to collected large amounts of property, under the new rules.

Fidel Castro approved of the communist party decision.  The Cuban communist party also agreed to let the general population have access to credit.  Since October 2010 more than 200,000 Cubans have started businesses.

The Cuban communist party also made the revolutionary statement that they will not be involved with the administration of the state government.

Fukushima, Technology

Black Week in Ukraine, Chernobyl anniversary, still seeking funds with ongoing clean up efforts

25 years after the deadly nuclear accident at the Chernobyl plant, the Ukraine is still struggling to deal with the disaster.

This week is Black Week, the official anniversary of the nuclear accident, which happened on 26 April 1986.  31 people were killed, as a direct result of the disaster, and many more have suffered cancers, and children being born with defects.

The amazing thing is that clean up efforts continue, and the Ukraine is struggling to pay for it.   Officials are trying to raise U.S.$ 1 billion for future clean up projects.