Tag Archives: eu

Business/Economics, International, U.S.

Global Economic War: What’s really going on with the possible China rescue deal for Europe? China pushing to be A Number 1, got burned bailing out U.S. banks

That’s right, it wasn’t just U.S. taxpayers and the U.S. central bank (Federal Reserve) that bailed out Corporate America’s big financial institutions in 2007/08.  China Investment Corporation played a part and lost.

So when it comes to bailing out European governments, China’s financial sector is willing but cautious: “The $3 trillion in reserves are the fruits of the hard work of the Chinese people.  We’re willing to work with those European countries in distress for a better solution.  But…we have to be accountable to the people.”-Jin Liqun, China Investment Corp

Both the U.S. media and the Chinese media are reporting that China wants nit picking details concerning any European bailout.  The Chinese think the European governments haven’t done enough when it comes to austerity measures.  They want to see more cuts, and more taxes imposed on the European people.

But there’s another reason China is taking its time with agreeing to any European bailout; they want to use the situation to bring China closer to being the A Number 1 economic and financial authority throughout the World: “It will also help China gain a greater say in the global financial system.”-Zhong Wei,  Financial Research Center at Beijing Normal University

In fact, today, October 28, China called on the G20 to become more united (under China?): “The opinions of emerging markets and developing countries should be taken seriously no matter when we talk on the reform of the international currency system, the global economic governance, or the price of commodities.  These countries’ presence and say should be increased.”–Cui Tiankai, Vice Foreign Minister of China

The next Group of 20 meeting is November 3-4 in the southern French city of Cannes.

 

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

What Economic Recovery? Whirlpool announces big layoffs, will close factories around the world

“…recessionary demand levels in developed countries, a slowdown in emerging markets and high levels of inflation in material costs.”, that’s what Whirlpool Chief Executive Jeff Fettig says about the economy, basically it stinks!

As a result Whirlpool sales are down, and they have to layoff 5,000 employees, and shut down their Arkansas refrigerator factory!

Whirlpool joins the growing number of big businesses that say: “During the quarter, we experienced weaker than expected global industry demand and elevated material costs.”

No sh*t Sherlock, Corporate America keeps laying people off.  Ironically even Whirlpool CEO Fettig blames Corporate America’s job cuts!

Whirlpool will also close a dishwasher factory in Germany, moving production to Poland (Poland is a member of the European Union, but does not use the Euro, they use their own money).

The result is not only lost jobs, but if you need a new home appliance in the near future it’s gonna cost you more; Whirlpool is jacking up their prices (hello inflation).

 

 

 

 

Business/Economics, International, U.S.

What Economic Recovery? The truth is that Europe, not the U.S., is China’s biggest trading partner

As a matter of incompetence, or conspiracy, when the list of China’s top trading partners is presented, it shows the United States as the top dog.  But that’s misleading, because the European Union, as a whole, is not counted.

Instead, EU members are broken up into the individual member states.  If you look at the European Union as one trading unit, which it should be, then it’s Europe that is China’s number one trading partner.

Not only that, but the percent of trade between Europe and China has been going up.  This is more proof that China does not need the United States to be economically viable.

However, recently the Chinese General Administration of Customs announced a second straight month of decline in their trade surplus.  Lu Peijun, vice minister of the General Administration of Customs, said China’s trade conditions are deteriorating due to worldwide falls in demand, and rising domestic costs.

Business/Economics, International, U.S.

Passing the Buck: Obama blames Arab Uprisings and Europe for bad economy in the U.S.

“The changes that have taken place in the Middle East sent oil prices up, and that gave a shock to the world economy.”-Barack Obama, President of the United States

First off, President Obama, oil prices are no where what they were a couple of years ago. What’s been driving up the price of gas (which is just as high as when oil was more than $100.00 per barrel) is not the current price of oil, but refineries that’re purposely keeping production of gas below the demand for gas (which makes the price go up).

Secondly, it was your attack on Libya, President Obama, that caused oil prices to go up!

President Obama also blamed the Europeans: “Some of the challenges that we’ve had over the last several months actually have to do with the fact that in Europe we haven’t seen them deal with their banking system and their financial system as effectively as they needed to.”

First off, if the U.S. banking system wasn’t so involved with the European banking system the U.S. wouldn’t be as affected by their problems.

Secondly, many of the actions taken by European banks, that got them into trouble, were the same mistakes that got U.S. banks into trouble.  By the way, those banking troubles started here in the United States, and have yet to be resolved!

Stop passing the buck President Obama!

International

Proof that Israel intends to take over Palestine: More than One Thousand new illegal settlements announced

The European Union foreign policy chief Catherine Ashton, has denounced Israel’s announcement that they will build an additional 1,100 illegal homes in Palestinian territory.  That’s on top of the already thousands of new settlements started since the beginning of the year!

The EU said Israel’s Zionist settler agenda undermines any attempt at peace.  Chief Palestinian negotiator Saeb Erekat, described Israel’s latest settler plan as “1,100 No’s” to any resumption of Israel-Palestine talks.

 

 

 

Business/Economics, International, U.S.

What Economic Recovery? New G20 meeting will reveal how bad the situation is, the United States is now a beggar thy neighbor nation

September 19, later this week the Group of 20 developed and developing economies will meet in Washington DC.  The main issue, as always, the collapsing global economy.

Actually the main stream western media wants you to think the “global” economy is collapsing, in reality it’s just the ‘western/capitalist’ economies that are going down the toilet.

Demands from the European Union, United States and Japan are revealing how bad the situation is: “The consolidation plans to be undertaken in most EU countries, in the U.S. and in Japan need to be accompanied by appropriate policies in other regions of the world so as to avoid an undesired compression of global demand.”-European Union statement

What this means is that the economies that are going down the toilet need more help from the economies that are actually booming (the “other regions”).  Basically the EU, U.S. and Japan have become beggar they neighbor nations; needing to borrow from the wealthier BRICS (Brazil, Russia, India, China, South Africa), just to survive.

In order to get the much needed cash, expect the EU, U.S. and Japan to make some huge concessions at this weeks G20 meeting.  One thing China and Russia would like to see is a new currency to replace the U.S. dollar as the World’s reserve money.   It’s unlikely the U.S. would support that, ’cause it could make the economic situation in the U.S. even worse.

However, the latest European Union statement indicates that if the EU, U.S. and Japan don’t get financial help from the BRICS, then it could be lights out for the ‘West’.

Business/Economics, International, U.S.

What Economic Recovery? China says you created the economic problem, you fix it!

“Countries must first put their own houses in order. Developed countries must draw up responsible fiscal and monetary policies.”-Wen Jiabao, Prime Minister of China

Despite China becoming the biggest foreign investor in the United States, they say future investments depends on how the U.S. handles economic recovery.  The same goes for Europe: “European countries are facing sovereign debt problems and we’ve expressed our willingness to give a helping hand many times. We will continue to expand our investment there…Europe and the U.S. must adopt responsible and effective fiscal and monetary policies in a bid to reduce debt pressures.”-Wen Jiabao, Prime Minister of China

Analysts from Citigroup agreed: “What he is basically saying is China wants to help, they want to invest, but we can’t help you take the proper measures to control the debt crisis, you’ve got to do that on your own.”-William Rhodes

Another analysts says the EU and U.S. must stop paying for debt with debt: “Politicians have been paying their budget deficits by selling bonds, in other words mortgaging, or charging the future. Sooner or later that catches up with you, and 2011 is the year that the debt finally catches up with several European countries like Greece and Italy. So they have got to put their houses in order. They have to spend what they have, but not spend more than they have.”-Francis Lun, Lyncean Holdings

Business/Economics, International, U.S.

Global Economic War: Evil buck passing United States blames evil Europe for world economic problems, but it’s the average Joe & Jone who’s going to pay

“Seventy-five percent of the dark things happening in the world economy are because of the eurozone.”-Timothy Geithner, U.S. Department of Treasury

September 9, U.S. Treasury Secretary Timothy Geithner blamed the European Union for U.S. economic failures!

Geithner made the comments at a G7 meeting in France.  He says EU countries need to make even harsher cuts, and raise even more taxes, in order to solve their debt crisis.  Going by his statements, can you guess what’s coming for the people of the United States?

 

 

International, U.S.

War Crimes: European Union now admits to helping the United States commit war crimes

“In attempting to combat crimes attributed to terrorists, countless further crimes have been committed in the course of the U.S.-led ‘global war on terror’. Many of those crimes have been carefully and deliberately covered up.”-Thomas Hammarberg, Council of Europe’s Rights Commissioner

Europe’s Rights Commissioner Thomas Hammarberg, said Europe is “deeply complicit” in Washington’s counter terrorism methods, which include torture and other human rights violations.

 

International, U.S.

U.S. led War on Syria: Russia threatens UN Veto, says the U.S. will sidestep the UN and use NATO to attack Syria

“We are afraid that the resolution could push the most radical Syrian opposition forces to more active operations to topple the government. Just because of that, we categorically do not accept the aims our Western colleagues try to attain with that resolution.”–Vitali Churkin, Russian Ambassador to the United Nations

Russia, as well as China, have stated that they oppose any UN Security Council resolution against Syria.

Russian officials say they have information that the United States, and European Union, will sidestep the UN Security Council, because they can not get enough votes of support for their planned attack on Syria.  Instead it is highly likely that the U.S. and EU will use language under NATO rules to justify an attack on Syria.  The North Atlantic Treaty Organization is not part of the United Nations.