Tag Archives: unemployment

Business/Economics, International, U.S.

Class Warfare: Quantitative Easing benefits top 5% of the rich, neutral or negative effect for everyone else! More proof it’s the fault of the Too Big to Fails!

23 August 2012, the Bank of England tried to make it look as though flooding the markets with cash is benefiting everyone. But their own words revealed the truth: “…asset purchases have boosted the value of households’ financial wealth held outside pension funds, although holdings are heavily skewed, with the top 5% of households holding 40% of these assets.”

Quantitative easing is a monetary policy that tries to stimulate the economy by buying up privately held financial assets.  But as the Bank of England (BoE) pointed out, 40% of those assets are owned by only 5% of the people in the United Kingdom!  You can be sure it’s a similar situation in the United States.

The BoE also admitted that traditional ‘savers’ are the ones who’re losing, as interest rates on traditional savings accounts are at record lows.  So much for trying to get people to put money away for a rainy day.

One British company, that offers financial services for people over 50 years of age, pointed out that retirees are the big losers in all this quantitative easing (QE): “…the 21 million over 50s…have been negatively impacted……It is asserted, but not proven, that pension savers are no worse off due to QE gilt buying [gilt is a British term for government bonds], because the value of their pension savings has gone up to offset the fall in the annuity income they will receive when converting their pension fund into a pension income. This assertion is simply not correct and the reality is very different for those recently or soon to be retired.”-Ros Altmann, Saga

The BoE tried to smooth things over by saying the worst that could happen to retirement funds is nothing: “….QE is estimated to have had a broadly neutral impact on the value of the annuity income that can be purchased from a typical personal pension pot invested in a mixture of bonds and equities.”

The British National Association of Pension Funds (NAPF) responded by pointing out that if pension funds were already in trouble before the QE started in 2009, and the QE has a neutral impact, then nothing has been improved (except for the rich).  The NAPF states that what has actually happened is that retirement funds are worse off as a result of QE: “…schemes that were already in substantial deficit before the financial crisis are likely to have seen those deficits increased.”

Essentially; quantitative easing only helps the 5% of the people (elites) holding financial assets (such as bonds), it is doing nothing, or actually making things worse, for 95% of the people!!!

Business/Economics, International, Technology

What Economic Recovery? Sony cuts 1,000 jobs in cell phone division!

23 August 2012, after buying back control of its Swedish cell phone operation, Sony announced it will lay off 15% of the employees.

Sony will also move most of the Mobile Communication division back to Japan.

Until Sony’s buyback, the Mobil Communication division was a joint venture with Sweden’s Ericsson.  The cuts are on top of planned lay offs in Sony’s television division.

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

What Economic Recovery? Hoku continues downward spiral. Pocatello plant mothballed! Micron dead! Emmett fails! Idaho State government conspiracy?

Famous last words: “Sustainable, renewable energy is going to play a big role in Idaho’s future.”-Butch Otter, current Governor of Idaho, 2011 statement

Reality check: “New projects are non-existent. There’s no support for renewables in this state.”-Peter Richardson, Boise attorney

As of 21 August 2012, Hoku Corporation stock was worth only 9 cents per share!

According to a recent Associated Press (AP) report, all of the promises of support for renewable energy related companies in Idaho, were false.

Pocatello’s Hoku Materials polysilicon factory for solar power panels is now officially mothballed. Boise’s Micron Technology’s energy venture is dead, and Emmett’s biomass power project failed.

Large scale wind power in Idaho is also being targeted.

The AP says the reasons range from federal tax breaks ending for the alternative energy industry, to economic war between China and the United States, to the fact that electricity rates in Idaho are already the second lowest in the country.

But what happened to all those promises of support from the State?  The bottom line is that the government of Idaho does not want to throw money at new alternative energy companies, state officials are all talk, no walk (but they love to take the credit for companies moving to Idaho, Butch Otter did with Hoku in his 2007 State of the State speech).  After all, Idaho’s main source of electricity already comes from decades old renewable and reliable hydroelectric dams (maybe that’s what Governor Otter was referring to in his 2011 statement).

Another thing, state lawmakers have not required local utility companies to buy into these new energy companies, as have the states of Oregon and Washington.  In fact many of these new companies were required to buy their electricity from Idaho Power, Rocky Mountain Power and Avista!

“LIQUIDATE HOKU MATERIALS”

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

What Economic Recovery? Hewlett Packard to report record loss, gives half a million dollars worth of stuff to Idaho university!

“…HP carries so much weight in the area, when they do something, when HP sneezes, you know, there is a ripple effect.”-Matt Rissell, Idaho Technology Council’s Software Alliance, interview with Boise State Public Radio

22 August 2012, Hewlett Packard (HP) is expected to report a record quarterly loss of almost $9 billion USD.  It’s the largest loss for HP ever!

HP is already in the process of laying off 27,000 employees.  People in Idaho are worried because HP has a huge campus in Boise, and any layoffs there will definitely hit other Boise area businesses: “For every hundred workers you lose, you’re going to lose at least another fifty.”-Don Holley, economics professor Boise State University

But despite all this doom and gloom, HP is actually benefiting Boise State University, in fact it’s benefiting another chip/computer maker, Idaho’s own Micron.

On 21 August 2012, it was announced that Hewlett Packard donated half a million U.S. dollars worth of equipment to the new Micron Business and Economics Building, located on the Boise State campus.

“We are working with Boise State to provide key technology that will enhance the student experience and help build future business and community leaders.”-Von Hansen, HP Boise

Notice Hansen didn’t say anything about employment, the focus is on “business and community leaders”.  Most leaders actually have a poor history of new job creation.

 

 

Fukushima

One Year Later: Fish contaminated with 380 times safe limit of radiation! More proof the GE designed disaster reactors are still spewing!

21 August 2012, Tokyo Electric Power Company (TEPCo) announced it has caught fish near the failed Fukushima Daiichi reactors that have as much as 38,000 becquerels per kilogram of radioactive cesium!

TEPCo says they’ve caught 20 kinds of fish and shellfish from 5 locations along the Pacific coast, just 1 kilometer (0.62 mile) off Minamisoma City, from mid July to the beginning of August.

A type of trout was contaminated with the most cesium, 38,000 becquerels.  That’s 380 times the safe limit set by the Japanese government!  To top that, the last time TEPCo tested local fish the amount of contamination was 18.8 times the safe limit!

Fishing was allowed to resume about 50 kilometers northeast of Fukushima Daiichi, on a trial bases, but not for rock trout or other fish that are showing up highly contaminated in TEPCo’s surveys.

ONE YEAR LATER: DOGS & CATS STILL ABANDONED IN RADIATION ZONES, GOVERNMENT NOW SEARCHING FOR OWNERS. OTHER PETS FORCED INTO SHELTERS BECAUSE OWNERS CAN’T KEEP THEM.

Fukushima

One Year Later: Japan to create Temp Towns to house victims of Fukushima Daiichi

17 August 2012, people forced to flee their homes, because of the General Electric designed nuclear disaster reactors at Fukushima Daiichi, have been living in temporary prefab homes.  Now the Japanese government wants to know if they will accept living in ‘temporary’ towns as well.

A year ago the ignorant Japanese government told nuclear evacuees that they’d be returning home in a few weeks or months.  It’s finally become clear to the exalted leaders that radiation contamination could last years. Some areas will exceed 20 millisieverts per year for at least a decade!

The Japanese government admits they are now considering the wishes of the evacuees for the first time!  At least 15,000 people can never go back to their homes, and the government says it is willing to build new villages for the victims.

 

Idaho, Opinion, U.S.

Government Incompetence: U.S. Army suicide rate doubles in July! Suicide now kills more troops than combat!!!

16 August 2012, the United States Army says the suicide rate for active duty, reserve and National Guard troops has now surpassed the 2011 high. July 2012 suffered 38 suicides, double from the month of June 2012!  That’s more than one soldier per day!!!

The monthly average is now at 29 suicides.  2011 ended with an average of 23 suicides per month.

The majority of suicides are those troops with combat experience. July was also a record high for active duty troop suicides.

In June dumb ass Defense Secretary Leon Panetta said: “That is an epidemic, something’s wrong.”

No shit Sherlock!  It’s called unjustified War on Terror, police stateism, economy down the toilet!

Things are so bad that earlier in the year the Idaho National Guard demanded that the state re-open a closed suicide hot line (the patriotic Republican state leaders closed it down claiming a lack of funding)!

General Lloyd J. Austin III gave the same bull shit comment I’ve always heard about preventing suicide: “To combat it effectively will require sophisticated solutions aimed at helping individuals to build resiliency and strengthen their life coping skills.”

I’ve heard that rhetoric since the 1980s!  What they really want are troops that are like the compliant monkeys of Japan: Hear no evil, see no evil, speak no evil.

But the more our leaders (Republicans, Democrats, religious & unAmerican Corporate America) betray our Constitution, screw over the families of troops by destroying the economy, ship jobs overseas, use prison labor instead of law abiding workers, religious hypocrisy, etc, the more those who join the military to supposedly fight for the American Dream are going to become disillusioned and turn to suicide, or something else (remember Bronze Star awardee Timothy McVeigh?)!

Fukushima

One Year Later: Dogs & cats still abandoned in radiation zones, government now searching for owners. Other pets forced into shelters because owners can’t keep them.

14 August 2012, the Japanese government is now trying to find owners of hundreds of abandoned pets in the 11 March 2011 disaster areas.  Last year the Environment Ministry was able to pick up 750 dogs and cats and place in shelters, 300 are still unclaimed.

Government officials believe there are still hundreds of abandoned pets still living in the radiation zones.

The prefectural government of Fukushima is asking people who are known to have lost their pets if they want them back, or not.  Fukushima officials say they have contacted at least 1,000 people so far.  Officials say they will try to find homes for pets that are no longer wanted, and they will continue to try and capture those pets still loose.

Some owners fear their pets are radioactive, others say they can not afford to take in their pets as they are living in temporary housing, and many owners are still unemployed.

NHK (nippon housou kyoukai/Japan Broadcasting Corporation) recently ran a sad documentary about pets who are being kept in private shelters, until the owners can take them back. The owners are paying for the shelters.  However, in one sad example, the owners of one old dog were finally able to take their dog back only to learn that their dog died just days before they arrived at the shelter.

Visit American Humane Association  Visit globalanimal.org

ONE YEAR LATER: FRESH WATER FISH MORE RADIOACTIVE THAN SALT WATER FISH! MORE PROOF THAT YOU NEED LOTS OF SALT IN YOUR DIET!

GOVERNMENT INCOMPETENCE: MORE RADIOACTIVE BEEF SOLD TO PEOPLE, JAPANESE CATTLE FARMERS ARE NOW BEING TOLD NOT TO USE LOCAL FEED, FARMERS SAY ADVISE IS TOO LITTLE TOO LATE

Fukushima

One Year Later: Fire & new radiation leak at Fukushima Daiichi!

14 August 2012, Tokyo Electric Power Company (TEPCo) said a new radioactive water leak has been found, coming from Reactor 4.

This morning a worker found a 350 square meter (1,148 square feet) room on the first floor of the reactor building flooded, about one centimeter (0.39 inch) deep.

The water is contaminated with 77,000 becquerels per milliliter of cesium.

TEPCo officials think the water might be coming from a pipe that is transferring contaminated water from Reactor 3 to a storage tank.  The pipe runs next to Reactor 4 building.

Also this morning, workers discovered a fire in a water pump.  The pump is used in a building that is used for filtering contaminated water.  They used fire extinguishers to put out the fire.

Business/Economics, U.S.

Corporate Evil: 90% of Too Big to Fail banks’ lawsuits falsify credit card debt!

The following are quotes from U.S. state judges, attorneys and federal government officials regarding the Too Big to Fails’ lawsuits against debtors:

“I would say that roughly 90% of the credit card lawsuits are flawed and can’t prove the person owes the debt.”-Noach Dear, civil court judge Brooklyn, New York

“Our concerns center on the fact that debt collection lawsuits are a pure volume business. The documentation is very bare bones.”-Tom Pahl, Federal Trade Commission

“I do suspect flaws, but there is little I can do.”-Harry Walsh, superior court judge Ventura, California

“This is robo-signing redux.”-Peter Holland, Consumer Protection Clinic at the University of Maryland Francis King Carey School of Law

The quotes came from a New York Times article