Tag Archives: unemployment

Business/Economics, International, U.S.

World War 3: Japan sanctions Iranian bank, move could backfire on Japan’s already disintigrating economy

On March 13, 2012, the Japanese government imposed sanctions against another Iranian bank, the 21st since last year.

It’s called Bank Tejarat, and is the third largest in Iran.  There’s just one problem, most of the deals involve Iranians buying Japanese products, not the other way round!

In 2011 Iranians bought U.S.$1.65 billion worth of Japanese industrial products. The majority of those transactions went through Bank Tejarat.  What this means is that in the name of trying to maintain good relations with the United States (after announcing $10 billion deal to dump U.S. bonds for Chinese) the leaders of Japan have possibly destroyed any chances of economic recovery.

As usual Japanese leaders are masters of understatement: “There may be a slight impact, but we believe that it is now most important to carry out international cooperation.”-Koichiro Gemba, Foreign Minister of Japan

 

 

Business/Economics, International, U.S.

Global Economic War: Japan to dump U.S. bonds for Chinese bonds, getting ready for March 29 debut of anti-U.S. BRICS Bank

On March 13, 2012, the Chinese government approved a request from Japan, to buy U.S.$10 billion worth of bonds.

Japanese officials admitted the move was to help them “diversify” away from U.S. bonds.  The move signals the growing influence of the Chinese yuan, as a international currency.

It also comes as BRICS countries prepare to sign an agreement on March 29 that would create a new international banking system that refuses to use the U.S. dollar.

Business/Economics, International, U.S.

Oil & Gas Prices: Canadian economy getting punched hard because they’ve pumped out too much oil

“If you don’t think this is a big issue, think again!”-Andrew Potter, CIBC World Markets

Canada has pumped out so much oil, that it’s losing money.  Plus it has to compete with the flood of oil coming out of North Dakota. The result is that Canadian heavy and light oil is now selling for about $10 to $30 under what U.S. West Texas Crude is selling for.

“…we actually have a contraction because there’s just too much of the stuff.”– Peter Tertzakian, ARC Financial Corporation

What it means is that energy industry companies are going to lose Canadian$18 billion every year until at least 2013!  Canadian provinces will lose tax revenues of  Canadian$5 million per day!

“That hurts…doesn’t include corporate taxes, which will get affected, too.”-Jack Mintz, University of Calgary School of Public Policy

Canadian oil analysts are hoping their situation stabilizes by 2013/2014. But it will be painful, one analysts said cash flow for the energy industry will drop at least 20% in 2012.

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

Oil & Gas Prices: IEF backs up claims by Exxon Mobil; there is plenty of oil

“Even now the market is well supplied. New fields are being discovered. There are new areas where sources are being developed. The sources of supply are spreading and this will change the politics of oil.”-Aldo Flores- Quiroga, IEF Secretary General

One more authoritarian voice joins in to say there is not a lack of oil, oil prices are only going up because of those damn speculators!

Well not just because of the speculators.  Officials with the International Energy Forum, also said that the oil industry needs new investments, and big profits, in order to exploit the new sources of oil, to the tune of $700 billion every year!

Last week the CEO of Exxon Mobil said the same thing, that there was plenty of oil in the pipeline, but he did directly blame the speculators on the high prices.

 

 

Business/Economics, U.S.

Government Incompetence: Speaker of the House reveals why U.S. Congress can’t get anything done

The following statements are from John Boehner’s interview with the Wall Street Journal:

“My problem is not with our 89 freshmen, my problem is with a few senior members who—they always want more. They always want more than what you can produce….[Nancy Pelosi] went through the same problem with her side.”

“We got 435 members. It’s just a slice of America, it really is. We got some of the smartest people in the country who serve here, and some of the dumbest. We got some of the best people you’d ever meet, and some of the raunchiest. We’ve got ’em all.“

“I told them they have ocular rectitis. That’s when your eyes get confused with your butt, and it develops into (an unnecessarily fecal) outlook on life.”

When asked what was behind political scandals, money or sex, Boehner replied: “Rarely is money an issue.”

 

International, U.S.

Government Evil: It’s official, United Nations says the United States tortured whistleblower Bradley Manning

“What is torture for? It’s really a way of getting false confessions. That’s what it does. That’s what it’s for.”-Daniel Ellsberg, former RAND Corporation employee turned anti-government activist

The UN special rapporteur on torture, Juan Mendez, has formally accused the U.S. government of torturing one of their own citizens!!!

After 14 months of investigation, Mendez concluded that the arrest and detention of whistleblower, U.S. Army Private Bradley Manning, involved cruel, inhuman and degrading treatment!

Manning has been in military prison since 2010.  It included nearly 11 months of solitary confinement: “I conclude that the 11 months under conditions of solitary confinement (regardless of the name given to his regime by the prison authorities) constitutes at a minimum cruel, inhuman and degrading treatment in violation of article 16 of the convention against torture. If the effects in regards to pain and suffering inflicted on Manning were more severe, they could constitute torture.”

Manning was also forced to spend nights standing naked.  Yeah, real good example of being a beacon of hope to the World, United Police States of America!

Mendez says the U.S. Department of Defense fought his 14 month investigation every step of the way, never co-operating, and never allowing him to interview Manning (which is also a violation of international law).  Mendez believes one reason the U.S. tortured Manning was to get information they could use to prosecute WikiLeaks founder Julian Assange.

International, Technology, U.S.

World War 3: U.K. directing U.S. Terror Drone attacks? Britain being sued

The London based charity Reprieve, and the law firm Leigh Day & Company, are suing the British Foreign Secretary William Hague.  They say they have evidence that the United Kingdom, specifically the Foreign Office, has been directing U.S. terror drone (UAV) attacks in Pakistan.

They claim that Britain’s signals intelligence agency (GCHQ/SIGNIT) are “secondary parties to murder” because they provided information to the U.S. CIA.  That information was used to launch drone strikes that have killed hundreds of Pakistanis.

 

Business/Economics, U.S.

What Economic Recovery? A sign the Federal Reserve thinks the too big to fail banks are full of crap!

“They’re very worried about the consumer. If we go into another recession, a lot of risk officers feel this is where the damage will be done.”-Paul Miller, former Federal Reserve Bank of Philadelphia, currently working for FBR Capital Markets

It appears the Federal Reserve is losing patience with the Too Big To Fail Banks (TBTFB). It’s questioning the TBTFBs’ desire to pay out huge dividends, and buy back their stocks.

“If the Fed fights back and disagrees and is more aggressive in their stance on cards and mortgages, it would mean banks wouldn’t be able to pay out as much.”-Glenn Schorr, Nomura Securities

Schorr says bank investors are almost demanding 50% to 60% earnings this year!

The problem is that the latest bank stress tests are conflicting with the TBTFB’s own financial claims.  The stress tests are designed to see if a bank has enough cash on hand to handle a sudden huge drop in the economy.

So far unnamed insiders, involved with analyzing the tests, say things aren’t looking good for banks.  When the variable of consumer debt is considered in the stress tests, some banks would suffer almost double the loses than their own in-house projections!

31 TBTFBs are currently undergoing the Federal Reserve stress test.

Business/Economics, International, U.S.

World War 3: Egypt considers refusing any more U.S. aid, in move to end U.S. control

“I wish members of the U.S. Congress could listen to you now to realize that this is the parliament of the revolution, which does not allow a breach of the nation’s sovereignty or interference in its affairs! It seems that the government is pushing for a crisis with parliament.”-Saad el-Katatni, Egyptian Parliament Speaker

After the Obama Administration threatened to cut off U.S. aid to Egypt, over the scandal involving U.S. citizens caught trying to cause trouble in Egypt (including the son of the boss of private intelligence agency Stratfor), the Egyptian parliament members basically said take your U.S. aid and shove it!!!

On March 11, 2012, the parliament voted to refuse acceptance of U.S. aid worth $1.3 billion!

The problem is that it’s actually the pro-U.S. military junta that’s currently running Egypt.  However, the 508 member parliament has begun the process of a no-confidence vote against the junta.  Such a vote of no confidence could create more civil strife, if the junta tries to maintain power.

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

Government Evil: Racist NAZI Zionist Israel to build World’s largest prison, intended to hold Black people!

“We all wish we didn’t have to build such a facility. But we’re in a certain situation due to certain circumstances, and we need a facility to address these needs.”-unnamed Israeli Defense official

According to an article in The Independent, Israel is about to build the World’s largest “detention center”, designed to hold 8,000 Black African “migrants”!

“[it was time]…to stop this growing influx that threatens Israelis’ jobs and changes the character of the state.”-Benjamin Netanyahu, Prime Minister of Israel

Most of the migrants are actually fleeing the wars in Sudan and Eritrea.  Israel has a policy of not returning refugees fleeing wars, so now they’ve decided to put them all in prison!

“People fleeing for their lives… will not stop coming because they face three years in detention.”-Reut Michaeli, Hotline for Migrant Workers

I wounder how many U.S. tax dollars are going to be used to build this World’s largest immigrant detention center?