Tag Archives: eu

Business/Economics, International

World War 3 & What Economic Recovery? Nissan revises expected profits downward!

On 06 November 2012, Japan’s Nissan Motors reduced its expected profits for the Japanese fiscal year (ending in March 2013), by 20%!

Nissan, like Mazda, is blaming most of it on crashing sales in China.  Nissan also blames the bad economy in Europe, and the increasing value of the Japanese yen (which makes Japanese cars more expensive).

Nissan reported sales numbers in China similar to what Mazda reported days ago.  Nissan experienced a 35% drop in September, then a 41% drop in October!

Chinese consumers are boycotting Japanese products (even those actually made in China) over Japan’s take over of an island that China says belongs to them.

Business/Economics, International

What Economic Recovery? Economic powerhouse Germany sees surprise drop in factory orders, recession certain!

“…a catastrophe and very bad news….We have a huge problem in the rest of the euro area that now seems to be reaching Germany and its labor market. For the coming quarters, the economic outlook is quite gloomy.”-Thomas Harjes, economist at Barclays

On 06 November 2012, Deutsche Bundesbank revealed that there is no let up in the dropping factory orders for German companies.  September had a 4.7% drop, October saw a 4.6% drop, from the year before.

From October to September (month to month) there was a 3.3% drop, which was much more than analysts had expected.

Factory orders from European Union (EU) customers (Euro-area orders) make up the biggest part of the drop, followed by orders outside the EU (export orders): “The weak economic environment in the euro area and in the broader global economy is having a bigger impact on demand for German industrial goods. Therefore industrial production may weaken further in the months to come.”-Statement from Germany’s Economy Ministry

Germany is considered the economic powerhouse of the European Union.  Almost a month ago the President of the Deutsche Bundesbank, Jens Weidmann, said: “The German economy continues to be in robust shape….”

Now one analyst says Germany “…is unlikely to be spared from a technical recession.”-Annalisa Piazza, New Edge

Christian Ott, an investment bank economist said: “…the [German] resilience has come to an end…”

Business/Economics, International, U.S.

Government & Corporate Incompetence, World War 3 & What Economic Recovery? United States not even part the top ten most prosperous countries! War on Terror makes the U.S. insecure!

According to the Legatum Institute, the United States not only is not the most prosperous country anymore, it’s not even in the top ten!

The United States was considered the 10th most prosperous last year, but in 2012 the U.S. is now ranked 12th overall!

The Legatum Institute ranks 142 nations in eight sub-indexes: economy, entrepreneurship and opportunity, governance, education, health, safety and security, personal freedom and social capital.

According to their 2012 Prosperity Index, the U.S. now ranks 2nd in health, 5th in education, 10th in governance, 10th in social capital, 12th in entrepreneurship and opportunity, 14th in personal freedom, 20th in economy, and despite more than a decade of War on Terror 27th in safety and security (seems the war has actually made the U.S. more unsafe)!

The top 10 most prosperous countries are: Norway, Denmark, Sweden, Australia, New Zealand, Canada, Finland, Netherlands, Switzerland and Ireland.  (notice that most of these are in Europe where the economy is supposed to be worse than the U.S., many of these countries have strong labor unions and more worker rights than the U.S.)

International, U.S.

World War 3: U.S. occupation of Afghanistan; 26 – 29 October 2012. Mujahideen continue steady attacks across the country! ISAF says they will not protect Afghan borders! Bin Laden & Taliban supporters to mediate peace talks! U.S. agents detain Pakistani official in Canada!

29 October 2012

In Wardak Province, Mujahideen ambushed U.S. and Afghan National Army troops.  The U.S. and ANA personnel were conducting assessments of local police checkpoints.  They were attacked with assault rifles and RPGs.  U.S. officials claim they killed three Mujahideen.

In Helmand Province, at least two ANA soldiers were killed (some reports say four) when the vehicle they were in ran over a landmine.

Despite the fact that U.S. officials continue to claim we are there to provide security to Afghanistan, ISAF officials said they are not there to protect Afghanistan’s borders: “In the first Bonn conference in December 2001 there was a proposal of the Afghan delegation to include the protection of the border of Afghanistan in one of the annexes. Actually this annex was part of the Bonn proposal however, this annex never made it into our mandate that we received from the United Nations.”-Brigadier General Günter Katz, International Security Assistance Force

The Afghan High Peace Council revealed that Saudi Arabia will mediate peace talks between Mujahideen and the Afghan government.  It must be remembered that it was Saudi Arabia that supported Osama bin Laden and, along with Pakistan, eventually supported the creation of the Taliban (“Students”) political party.  Saudi Arabia also officially recognized the Taliban government.  Analysts say this time the Saudi’s are concerned about blowback: “Saudi Arabia is in a situation to support the Afghan peace talks not only because of the moral stance of Saudi in this regard but also they should consider the post 2014 situation in Afghanistan which will threaten the national security of Saudi Arabia if necessary steps have not been taken to eliminate insurgency in South Asia.”-Nasrullah Stanekzai

Saudi Arabia is also spending $100 million USD to build a huge Mosque/madrasa in Afghanistan.  They claim it will house 5,000 university aged students.

In Ghazni Province, five people were killed and four detained by U.S./ANA forces.  Officials claim they were all Mujahideen, but locals say at least one civilian man and one civilian woman were killed.  Officials say the U.S./ANA operation started Sunday night and continued until Monday morning.

Afghan elected official, Ramazan Bashar Doost, said that while the U.S. is offering a $25 million reward for the arrest of Mullah Omar, the U.S. has been in contact with Mulla Omar the whole time!   Doost also says the U.S. is actually funding not only Pakistan’s ISI, but Afghan Mujahideen groups as well.

28 October 2012

In Canada, Pakistani elected official, Imran Khan, was detained by U.S. agents: “I was taken off from plane and interrogated by U.S. Immigration in Canada on my views on drones. My stance is known. Drone attacks must stop!”-Imran Khan

Imran Khan is also the Pakistani official who said war in Afghanistan was justified Jihad.  Khan was on his way to New York anyway, so why couldn’t the U.S. wait until he arrived there?

Afghan intelligence, aka National Directorate of Security (NDS), told Pakistani officials that the man they claim is behind the shooting of a teenaged Pakistani girl is not in Afghanistan.

27 October 2012

In Ghor Province, local government officials say 13 people were kidnapped.  However, police say they do not know who did the kidnapping, and they don’t know the identities of those kidnapped!

The British Red Coat Ministry of Defence said the deaths of one Royal Marine and one Royal Army medic was not the result of fratricide (Blue on Blue).  However, the two Red Coats died (as well as a Afghan National Policeman performing Muslim prayers) after two British patrols fired on each other.  The MoD stated: “…the deaths of Corporal O’Connor and Corporal Day were caused by a third party or parties whose identities have yet to be established but who are not U.K. personnel.”

An investigative reporter says Green on Blue attacks are not caused by insurgents, but by the way U.S./NATO personnel treat Afghans: “These attacks are motivated by grudges, by people who are unhappy with the people they are coming in contact with in the U.S. and NATO military forces, but also by the broader context of what they hear and see these forces are doing in Afghanistan specifically for example breaking into people’s homes and taking away the males in these homes and detaining them.”-Gareth Porter

26 October 2012

In Ghazni Province, the bodies of six people were found on the Kabul-Kandahar highway. They had been shot. Police believe the victims were traveling to see relatives for the Eid holiday.

The Wall Street Journal said Afghan sources claim Iran has infiltrated Afghanistan through charity organizations.  Sources claim Iran can now muster up to 20,000 Afghans at one time for militant activities, making Iran a greater threat than Pakistan.

In Farah Province, an NDS agent was attacked by Mujahideen. Several people were wounded and the a gunman was arrested. No info on what happened to the  NDS agent.

ISAF said:  “An International Security Assistance Force service member died following an insurgent attack in western Afghanistan today.”

In Faryab Province, a suicide bombing killed at least 40 people, and wounded 50.  It appears the Provincial governor and local police chief were the targets. It happened at a Mosque.  President Hamid Karzai said the attacks made against Muslims while they are praying in Mosques are not being made by Muslims, suggesting the attacks are really being instigated by non-Muslims (like non-Muslims from the United States or Europe).

Recently the grand Mufti of Saudi Arabia declared that suicide attacks by Muslims against Muslims was unforgivable.

 

 

Business/Economics, International, U.S.

What Economic Recovery? Germany says economy worse than they thought! Greece tells IMF they can not make anymore compromises! IMF pushes for U.S. consolidation, code for even more drastic deleveraging! Oil prices to crash!

“We are talking about the things that still need to be solved and here it became clear that the global economy’s risks are very evident, as is clearly stated in the communiqué. The economic growth outlooks are not as good as we would hope.”-Angela Merkel, Chancellor of Germany

The German leader made the statement on 30 October 2012, after reading a report from the Organization for Economic Co-operation and Development, World Trade Organization, International Labour Organization, International Monetary Fund and the World Bank.

The IMF boss, Christine Lagarde, admitted that economic growth will be pathetic: “I would characterize the situation as that of a laborious recovery out of the financial crisis through some degree of stabilization by way of tepid growth.” 

The IMF also pushed developed economies to further consolidate their fiscal policies. This is another way of saying government deleveraging (typically in the form of austerity) should be increased.

(deleveraging began for individuals and small businesses with the 2008 Credit Crisis/Crunch. It’s one of the causes behind all the Sears & Kmart store closings in the U.S.)

The IMF is specifically targeting the United States, saying the U.S. needs a credible fiscal consolidation plan, implemented “at an appropriate pace” in order to stabilize a “fragile” world economy.

Just two days ago, the IMF, along with European lenders, told Greece that they could not provide anymore financing unless more drastic changes were made, such as drastic changes in Greece’s labor/wage laws.  The Greek coalition government is showing signs that it would rather default than make anymore compromises.

The paradox is that while world economic organizations want increased deleveraging of individuals, small businesses and governments, they also want employment to somehow increase and people to somehow spend more money buying stuff they don’t need (domestic consumption)!

And it’s not just developed countries being told to axe their government spending, even oil rich Arab countries are being told to do the same: “A rapid deterioration in the global economy could bring about developments similar to what the region experienced in 2009, including a sharp fall in oil prices and disruptions to capital flows.”-IMF

The IMF explained that as the world economy worsens, demand for oil is going to drop to such lows that the the six Gulf Cooperation Council economies of Saudi Arabia, United Arab Emirates, Kuwait, Qatar, Oman and Bahrain could experience an economic crash.

The IMF projects that the price of oil could drop by $30 USD per barrel in 2013, and continue dropping!  This might sound like good news, but it’s because people won’t have the money to buy it at any price!

 

Business/Economics, International, U.S.

What Economic Recovery? Too Big to Fail bank revises planned layoffs, upward by the thousands!

30 October 2012, Swiss banking giant, UBS, announced a major change in its plans to cut employees; they now want to layoff 10,000 workers worldwide!

Last year UBS announced they would layoff 3,000 employees, but because the too big to fail bank has been losing money from its investment operations, they’ve now upped it to 10,000.

UBS employees in Stamford, in the U.S. state of Connecticut, will make up the majority of those laid off.

Of course (and more proof that unAmerican Corporate America/Europe is behind the economic disaster) stock investors loved the announcement, and drove up UBS stock prices in European stock markets with frenzied buying (I’m sure the same thing would be happening on Wall Street if it wasn’t for the hurricane).

Business/Economics, International, U.S.

Global Economic war & World War 3: Iran orders the United States to back off! Will stop all oil sales to the World!

“If you continue to add to the sanctions we will cut our oil exports to the world…..The dearth of Iranian oil on the market will increase the price drastically.”-Rostam Qasemi, Iran’s Minister of Petroleum

On 23 October 2012, Iranian officials quietly announced that Iran is prepared to stop all its oil sales to the world, if the United States and Europe continue economic sanctions.

On 15 October, the European Union voted for more sanctions against Iran.

Iranian officials say they are ready for “Plan B”, which means halting all petroleum sales and running their country without oil revenues.  This is possible because Iran’s non-oil exports are now high enough to offset the huge loss of oil money.

Even Iran’s domestic industries are becoming more self sufficient.  Example: According to the World Steel Association, Iran’s steel industry is now the 16th largest in the world: “Despite the intensified sanctions during the last two years, the capacity of Iran’s steel production has increased 5 million tons and we will be completely self-sufficient in the steel industry in the next three years.”-Hamidreza Taherizadeh, Vice-President of Iran’s Steel Association

The announcement was made at a OPEC meeting in Dubai.

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

What Economic Recovery? Dow Chemical to close 20 factories, despite making profits! Warns economy is getting worse!

“Economic growth in 2012 has slowed to a trickle, and that has spooked a lot of people.”-Jake Dollarhide, Longbow Asset Management

“Our low cost feedstock [natural gas] advantage enabled us to deliver volume growth, despite weakening demand. These difficult conditions [bad economy] may have extended staying power, as the new reality is that we are operating in a slow growth and volatile world.”-Andrew Liveris, Dow Chemical CEO

On 24 October 2012, Liveris explained the 2,400 job cuts (inadvertently announced the day before) as being necessary because Dow officials see the world economy getting worse.

Some analysts were surprised by the elimination of jobs and 20 factories: “Dow had very strong volumes in an uncertain macroeconomic environment. When I heard the announcement they were cutting jobs, I thought they had a really bad quarter, but it seems that business is A-OK.”-Hassan Ahmed, Alembic Global Advisors

Stock market investors are overjoyed at the announcement of the elimination of jobs (as they always are), and Dow Chemical stock values shot up 5 to 6% the morning after the job cuts were announced.

Dow reported net revenue for this past quarter at $582 million USD.  But that’s down from the same quarter last year, when they reported $900 million. (note: various U.S. media sources are reporting slightly different revenue numbers) Dow officials say their sales are down across the board.  The only area they see possible increase in sales is in their plastics made from cheap natural gas.

Their natural gas supplies come from the U.S. Gulf of Mexico operations, and Saudi Arabia.  Dow has no plans for cutting workers from those operations. About 1,500 of the job losses will come from Dow’s paint and solar cell factories.

20 factories in Japan, Belgium, Netherlands, United Kingdom, Spain and the United States will be closed.  Bloomberg reports that Dow did not want to make the layoffs public, but mistakenly emailed the announcement to some media outlets!

Despite stock investors buying up Dow stock, the chemical company said it will also cut $500 million from their own investing and capital spending.   That’s the exact opposite of what U.S. President Barack Obama has been saying is needed to revive the economy.  Obama has been stressing that unAmerican Corporate America needs to increase spending on investments and capital.

 

International, U.S.

World War 3: U.S. occupation of Afghanistan; 28 – 30 September 2012. Afghan troops do battle with NATO troops! More drone strikes! USMC General ‘mad as hell’!

30 September 2012

In Maidan Wardak Province, there is a report that NATO called in a U.S. drone strike, which killed four civilians and wounded several others.  It could be vengeance for yesterday’s Green on Blue attack.

In Nangarhar Province,  four people killed, three wounded, after a motorcycle bomb exploded near a Mosque.

The National Coalition of Afghanistan announced they were opposed to any planned military pact between Afghanistan and Pakistan.

29 September 2012

In Maidan Wardak Province, the provincial governor reporting that Afghan National Army (ANA) troops have attacked NATO occupation forces!  So far three ANA troops have been killed. ISAF said: “An International Security Assistance Force service member and an ISAF civilian contractor died following a suspected insider attack in eastern Afghanistan…”

The Department of Defense has revealed that the number of U.S. personnel killed in Afghanistan since the invasion, has reached 2,000.

Ignorant U.S. Marine Corps General, John Allen, had this to say: “I’m mad as hell about them, to be honest with you. We’re willing to sacrifice a lot for this campaign, but we’re not willing to be murdered for it.”

Numb nuts U.S. Defense Secretary, Leon Panetta, said this: “I expect that there will be more of these high profile attacks and that the enemy will do whatever they can to try and break our will using this kind of tactic.”

Hello! It’s called War; you invaded them, they are defending their territory which is their legal right under international law.  And by the way, the people of Afghanistan had nothing to do with 11 September 2011!!!

In Herat Province, two cops were killed, and two wounded, after they drove over a mine. Also, four people were killed by U.S. led airstrike.

The Afghan Interior Ministry announced that at least 20 Mujahideen were killed, and 21 captured in battles in the provinces of Kabul, Kandahar, Zabul, Uruzgan, Logar, Ghazni, Khost, Paktika, Paktiya and Helmand.

In Kunar province, three people were killed by U.S. airstrike.

In Helmand Province, 12 people were killed by two U.S. led airstrikes.

28 September 2012

In Farah Province, Mujahideen claim they killed seven U.S. personnel after the huge mine they planted exploded when a U.S./NATO armored vehicle drove over it.

In Helmand Province, a U.S./NATO armored fighting vehicle (AFV) ran over a woman and her child. The father, mother and their son were riding a motorcycle when they were hit by the AFV.  The boy was killed, his mother wounded.  Witnesses say a policeman at an intersection waved the family on, but the AFV did not stop.

 

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

What Economic Recovery? Wars on Terror, anti-Islam movies, sanctions against Iran, all part of conspiricy to jack up oil prices beyond $150 per barrel? The real shadow war?

16 September 2012, get ready for higher oil prices!

Iranian officials in the Organization of the Petroleum Exporting Countries (OPEC) said the real price per barrel of oil should be around $150 USD.  Their reasoning varied from the time of the year, to comparisons of prices by inflation (1970s compared to 2000).  They even said the World economy can handle much higher prices.

Not sure if they are talking about British Brent crude prices, or U.S. West Texas Intermediate (WTI) crude oil.

On 14 September 2012, Brent crude went over $117 USD per barrel.

Reading a Canadian report, turns out that’s still not high enough!  The Canadian province of Newfoundland/Labrador have set their government budget in the hopes that Brent crude will go over $124 USD per barrel.  The province makes most its money off oil production.

In fact, because Brent hasn’t hit the magic money mark, yet, the provincial Premier, Kathy Dunderdale, had to cut their budget: “I’m not so worried about this year. I’m more worried about next year. Because if oil stays where it is, our deficit could be around $1 billion [CAD] next year.”

In other words, some governments, who’s major money making industries happen to be the oil industries, want oil prices to skyrocket!!!

However, Iranian OPEC officials say the United States is trying to bring down oil prices, by demanding OPEC members increase oil production.

A few years ago I read an article that explained that most oil producing countries (including members of OPEC) would be losing money if oil were less than $90 per barrel.

So, the reason why the U.S. wants to bring down prices, while other countries want prices to go up, could be that the U.S. domestic oil industry can handle lower oil prices (except for shale oil).  Most other countries have higher oil production costs (like Canada) because of the type of oil and labor costs.

The U.S. model is a kind’a WalMart tactic; keep prices cheap and sell as much in volume as you can until your competition quits.

So what we have are those who want oil prices even higher than they are now, and those who want them to drop.  Is this the real shadow war taking place behind the deadly facade of War on Terror, sanctions and insulting other people’s religions?