Tag Archives: u.s.

Business/Economics, Opinion, U.S.

What Economic Recovery? Mainstream Media Experts get it wrong, again. Job creation predictions way off

“Today, companies are producing more goods and services than ever before. The economy is able to do that with 7 million fewer workers. If we can do so much with so much less, where is the incentive to hire?”-Bernard Baumohl,  The Economic Outlook Group

For the past few days the stock markets have been going up (mainly those reported by the Dow Jones).  Some mainstream U.S. media outlets were saying it’s because of good jobs data.  It turns out their claims of good jobs data was based solely on “expert” economists, who were just plain guessing (like always).

Today, July 8, the U.S. Department of Labor released the official job hiring numbers for June, and boy are the “expert” economists way off.  The mainstream media had been reporting that “expert” economists predicted 120,000 people would be hired in June.  The actual number of people hired…18,000.   That’s a big difference.  It’s also clear proof that the U.S. economy is not recovering.

The job creation number is a “net” number, meaning it’s what’s left over after you subtract the number of people who lost jobs.  Another way to say it is that corporate america fired way more people than they hired.  And this has been going on for years now.

“We are backsliding. The chances are that we go into another recession or we muddle along at technical growth, but actually making no improvements as far as Main Street goes. The chance of one of those things happening is extremely high.”-Heidi Shierholz, Economic Policy Institute

How bad is the unemployment situation?  Officially 7 million people lost their jobs as a direct result of the credit crisis, which started in 2007/2008.  Today, officially there is still 6.3 million people with no jobs!   And by “officially” I mean those people who’re still counted by state and federal unemployment agencies, there are potentially millions who’re no longer counted.

If you notice I used two quotes from economist who seem to know what’s really going on.  I see many reports and comments from such economists, yet the mainstream U.S. media always goes with the “experts” who always get it wrong.

Why would the mainstream U.S. media continue to report faulty data?  Could it be because the mainstream U.S. media is not only traded on the stock markets, but is actually invested in the stock markets, so basically they’re scamming potential investors to give up their money to the biggest casino in the world, The Stock Market?

There are also those who believe the mainstream U.S. media is doing the bidding of the Federal government, in trying to make things look better than they really are, to try and prevent mass civil disobedience (like what’s happening in some European countries).

In any event, it is clear that you can’t rely on the mainstream U.S. media for “facts” about our economy.  And you can not use the stock market as a gauge for the performance of our economy.

The fact that 6.3 million people are still officially out of work, shows that after three years of promises about improving our economy, and claims that the recession is over, absolutely nothing has improved and many “Main Streeters” think we’re heading into a Depression.

 

Business/Economics, International, U.S.

New York takes over Germany, the real reason the stock market is going up

U.S. media reported that the continued increase in the New York Stock Exchange (reported by the Dow Jones) is because of good economic data, like better than expected job numbers.

Monthly unemployment numbers are still over 400,000, and many economists have repeatedly stated that it needs to drop below 400,000, for several months in a row, to be considered a “good” sign.

Could the real reason be that the NYSE (aka NYSE Euronext) was just approved, by shareholders, to take over one of Germany’s stock markets: Deutsche Boerse AG.

The take over still needs approval of Deutsche Boerse shareholders.

This seems to be a more likely reason for the upswing in the NYSE trades, because Germany is the only economic powerhouse left in the European Union, thanks to its many trade deals with China.

According to the NYSE website, “…NYSE Euronext’s equities markets include the New York Stock Exchange, NYSE Euronext, NYSE Amex, NYSE Alternext and NYSE Arca.  NYSE Euronext also operates NYSE Liffe, a European derivatives business.”

The Dow Jones is a stock market index, which includes the NYSE Euronext trades in its daily reporting.

International, U.S.

100 Iraqi politicians sign letter of warning, the U.S. better leave or else

Despite repeated public statements, protests and even attacks against U.S. troops, U.S. officials are still haranguing the Iraqi Prime Minister about letting them stay.

U.S. Admiral Mike Mullen admitted that his staff is having a hard time convincing the Iraqi officials that the United States should stay past their agreed upon withdraw date.  The U.S. is now taking the stand that Iraq has serious security gaps, that only the U.S. can fill.

In response to the continued efforts of the Obama administration to renege on the promised withdraw date, 100 Iraqi lawmakers signed a letter of warning, which basically said if the U.S. gets its way all hell will break loose in Iraq, with the focus of that hell upon U.S. forces.

 

 

Fukushima

Corporate Incompetence: Japanese nuclear plant operator lies about plant safety, gets caught!

In Japan, the restart of the Genkai nuclear power plant has been put on hold, after a whistler blower revealed that the company boss ordered false statements about the plant’s safety.

Operator Kyushu Electric Power Company got the go ahead to restart the nuclear plant, located in Saga prefecture, after a public meeting in which email testimonies were read in favor of restarting the plant.  Those emails, supposedly from independent observers, and even affiliates of KEPCo, turned out to be lies.

Saga is located many hundreds of miles from Fukushima, on the southern island of Kyushu.

It’s been revealed that the boss of KEPCo ordered false emails to be sent to the public hearing, in order to win approval for restart.

Now local officials will wait until the central Japanese government completes its new stress tests, before giving the go ahead for restart.

 

Fukushima

Government & Corporate Incompetence: More Japanese tea farms contaminated with Cesium!

Another tea growing prefecture is now contaminated with dangerous levels of cesium.  Tochigi prefectural government says 1,810 becquerels per kilogram of cesium is contaminating the harvest, piked earlier this week.

The levels are three times the safe limits set by the Tochigi government.  Tochigi Prefecture is 160 kilometers (99.4 miles) from the damaged Fukushima Daiichi nuclear plant.

This latest prefecture is part of a growing list of prefectures that have stopped tea shipments because of cesium.  Others include Chiba, Kanagawa and Shizuoka prefectures. Shizuoka is Japan’s largest tea producer.

Fukushima

Corporate Incompetence: TEPCo admits airborne radiation still being emitted in high doses!

Tokyo Electric Power Company announced it will increase monitoring of airborne radiation levels around the damaged reactors at its Fukushima Daiichi plant.

TEPCo will especially focus on reactors 1 and 4.  High levels of contamination are being found in dust and steam emitted from the reactor buildings.

Fukushima

Corporate Incompetence: Another nuclear reactor in trouble in Japan, failed to meet its own company standards!

Looks like it was the right move, for the Prime Minister to order standard safety stress tests of all nuke plant in Japan.  The Tokai Daini nuclear plant in Ibaraki Prefecture has failed earthquake safety tests for its electronic equipment.

The amazing thing is that the earthquake safety standards for Tokai Daini were created by the very company that runs the nuclear plant.

The Japanese Nuclear and Industrial Safety Agency says many of the nuclear plants in eastern Japan are failing their own earthquake safety standards for their electrical equipment.  In one case it was discovered that the metal frames holding electric motors were made of such inferior metal that they could be easily broken by twisting.  The agency also says they still don’t know the true reason why the electrical systems at the damaged Fukushima Daiichi nuclear plant failed.

Fukushima

Government Incompetence: Japan will create new national rules for nuclear reactor safety, that can be overriden!

06 July 2011, Prime Minister Kan Naoto has ordered those in the government, who’re in charge of nuclear reactor safety, to create new rules.  Kan says the numerous and growing complaints from the people have made it clear a new system of rules for reactor start ups need to be created.  Many prefectures are refusing to allow reactors to be re-started.  Gee, I would’ve thought it was the fact that the Fukushima Daiichi nuclear disaster is still ongoing.

Under current rules the Nuclear and Industrial Safety Agency, and the Industry Minister, decide when it is safe to start up a reactor.

Prime Minister Kan wants the new rules to include stress tests, and be in compliance with the International Atomic Energy Agency.

Kasai Akira, of the opposition Communist Party, pointed out that it is useless to create new rules when local prefectures have the right to override those rules, as they are in not allowing reactors to re-start.

International, U.S.

No more open borders in Europe, no thanks to the U.S. & European wars in the Middle East & North Africa

Denmark announced that starting July 5, no more open borders.  They blame drug trafficking and illegal immigrants.

Since the U.S. led invasion of Afghanistan drug trafficking has skyrocketed across Central Asia and into Europe.  Many of the drugs come from U.S. occupied Afghanistan.

The NATO attacks on Libya have greatly increased what European governments are calling illegal immigration (most of whom are actually war refugees, no thanks to the European/U.S./NATO war on Libya).

Denmark is not the first EU member to close its borders.  France and Italy closed their borders with each other, for the same reasons as Denmark.  In the case of France and Italy, French officials discovered that Italy was giving refugees (I mean illegal immigrants), mainly from Tunis and Libya, EU visas then putting them on trains bound for France.

Other EU members are complaining about the violation of the European Union’s “open borders” policy, but Denmark claims their border closure will not affect commerce.

Business/Economics, International

No Economic Recovery for the U.S.: Germany & China sign $3 billion deal

Germany, not the United States, is becoming China’s most important business partner.

In fact the latest deal puts to shame the recent deal signed between China and the United Kingdom, by several hundred billion dollars.  At the end of June Germany and China signed a $290+ billion deal.

The deal includes not just the purchase of products, but investments into anything from universities to medical research to environmental services.  Sounds like everything President Obama promised the people of the United States.

Currently Germany has invested $20 billion into Chinese industries, with China investing only $600 million into Germany.  This new deal greatly increases Chinese investment into Germany.

According to Rainer Gehnen, managing director of the German-Chinese Business Council, China, not the United States, is now Germany’s most important market, and will be for the long run.