Subscriptions, Current Issue & Back Issues

Current Issue | Annual Subscriptions | Back Issues

Category: Economics

“Doomsday” Broadcast Alarms Southern California”

Considering the recent earthquake spike (especially the 5.7 mag off the California coast) this “fake” broadcast was bound to cause anxiety.

Agenda 2030: “Tapping into the savings of citizens”

UN Chief To Reshape Global Finance For Sustainable Development

Secretary-General Ant—nio Guterres speaks at the Financing the 2030 Agenda, ÒThe Role of the United NationsÓ at the UN on Sunday, September 18, 2017. While Deputy Secretary-General Amina Mohammed, right and H.E. Ms. Gabriela Michetti, Vice President of Argentina, left, listen on. (UN Photo/Ariana Lindquist)
Danger: The Deputy Secretary-General, Amina Mohammed, said that “trillions of dollars need to be mobilized a year by tapping into the savings of citizens around the world…” The financing fix for Sustainable Development is revealed: simply take it from citizens’ saving accounts. Actually, if Sustainable Development is completely established in place of Capitalism/Free Enterprise, private property (including savings) will be wiped out anyway.  TN Editor

As the high-level week of the United Nations General Assembly gets underway, Secretary-General António Guterres today stressed the role of the UN to help reshape “unproductive and unrewarding” finance and redirect investment to creating a better world for all.

“The choices we make on finance will be critical,” Mr. Guterres told a special event held at the UN Headquarters in New York on financing for global development goals.

Mr. Guterres noted that the 2030 Agenda for Sustainable Development and the 17 Sustainable Development Goals (SDGs) – adopted by UN Member States in September 2015 – are a blueprint for building an inclusive, sustainable fair globalization.

“We can choose to bemoan the lack of financing for the 2030 Agenda in a world awash with so much unproductive and unrewarding finance. Or we can grasp the opportunity to reshape finance, according to our urgent, collective needs,” he said. “The choice is clear. Let us invest in the 2030 Agenda and finance a better world for all.”

However, today’s global financial system, which manages some $300 trillion in financial assets, is simply not fit for purpose, the UN chief said, recalling that the Addis Ababa Action Agenda, adopted in 2015 at an international conference in the Ethiopian capital on financing for development, highlights the importance of being innovative in leveraging resources and financing for development.

The UN’s three-part strategy for enhancing its support to financing the 2030 Agenda would help achieve short- and medium-term results, he said.

The Secretary-General said that he will lead UN efforts to ensure that the objectives of the 2030 Agenda are fully reflected in international economic and financial policies by working closely with key inter-governmental platforms, such as the G20.

Second, he will reform the UN development system to strengthen its country teams, and third, he will champion key international initiatives that can harness large-scale changes in financing and financial system development, such as in the fields of digitalization and climate finance and in cooperating with major investment initiatives.

Also addressing the event was Deputy Secretary-General Amina Mohammed, who said that trillions of dollars need to be mobilized a year by tapping into the savings of citizens around the world, official development assistance (ODA), domestic financing and the world’s financial system.

The UN has always been engaged in this financing agenda, with its partners, allies and of course Member States, but “our question is whether we are doing enough, and the answer, in short, is no,” she said, explaining that this event is timely as it highlights progress and opportunities from parts of the UN’s leadership team, key partners such as the World Bank, private sector actors, and Member States.

Read full story here…

Large Earthquake Near Fukushima!

Fukushima quake

A 6.1-magnitude earthquake hit the northeast coast of Japan, just 200 miles east of the damaged Fukushima nuclear power plant.

The earthquake occurred just before 12 p.m. EDT on Wednesday (the middle of the night in Japan) and was about six miles deep, according to the United States Geological Survey (USGS). Its epicenter was near that of the huge 2011 earthquake that led to a tsunami and caused a nuclear meltdown in Japan. The USGS also estimated that most people in its vicinity felt “weak” shaking. The closest city was Kamaishi, 175 miles away.

As of yet, the Pacific Tsunami Warning Center has not issued a tsunami warning.

In March 2011, Japan was hit by a 9-magnitude earthquake that triggered a tsunami with waves up to 128 feet high that killed 16,000 people and flooded the Fukushima nuclear power plant, causing a catastrophic nuclear disaster—the worst since Chernobyl. The clean-up is not complete: It is expected to take 30 to 40 years and cost $189 billion. The Guardian reported in February that one damaged reactor was at its highest radiation level since the meltdown. Newsweek reported in July that the Fukushima power plant announced it would be dumping nuclear waste into the ocean.

The waves flooded back-up generators in the plant that were used to cool nuclear reactors, and 500,000 people in a 12-mile radius had to be evacuated. Many parts of the world tightened their nuclear safety codes and regulations after Fukushima, to attempt to ensure that even a worst-case scenario like that in Japan could not lead to another nuclear disaster. In the United States, the Nuclear Regulatory Commission implemented “post-Fukushima requirements” that include regular safety improvements in the 61 nuclear power plants in operation and 99 nuclear reactors across the country.

The 2011 earthquake hit closer to the power plant, was much stronger—one of the strongest earthquakes ever recorded—and had a much deeper epicenter, 18 miles. Japan is situated at the juncture of four tectonic plates, so noticeable earthquakes are common for the region, and the country’s buildings and emergency planning procedures are generally prepared for them.

The Wednesday quake was the second powerful temblor this week, after a 7.1-magnitude event killed over 200 people in Mexico City on Tuesday. Just before the quake, the Ministry of Foreign Affairs in Japan announced the country was sending its Japan Disaster Relief Search and Rescue Team to Mexico to help with rescue operations. “In light of the friendly relations between Japan and Mexico,” the ministry wrote in a release, “Japan decided to provide emergency assistance to Mexico from a humanitarian viewpoint.”

Newsweek

Melina Delkic

Earthquakes Everywhere!

Thanks to Rose at The Con Trail:

https://thecontrail.com/forum/topics/mexico-new-zealand-what-s-next?xg_source=activity

Those that watch know that there is a pattern to the quakes when the area around Auckland Islands quake.

Auckland Islands, East Coast NZ, Fukushima, Mexico west coast of US, Alaska and then often the Bering Straight.  The pattern is happening again.

~r~

It begins with Auckland Islands having a 6.1…

M 6.1 – 256km W of Auckland Island, New Zealand

2017-09-20 01:43:30 UTC 50.371°S   162.550°E 10.0 km depth

New Zealand rocked by strong 6.1 magnitude earthquake as a ‘powerful tremor’ strikes Wellington http://www.dailymail.co.uk/news/article-4901364/New-Zealand-rocked-…

http://www.wvgs.wvnet.edu/www/earthquakes/data/20170919_WORLD_NewZe…

The same day there was a 5.1 in Wellington/Seddon. And A 5.1 FUKUSHIMA and then today M 6.4 VANUATU Date: 2017-09-20 20:09:50 UTC Depth: 200 km M 6.2 OFF EAST COAST OF HONSHU, JAPAN Date: 2017-09-20 16:37:15 UTC Depth: 2 km

Published on Sep 20, 2017

♨ Mexico, New Zealand … – What’s Next ? Latest videos: https://goo.gl/x6nmrY

Source

Sarah shared in chat:

“Dutch has covered it. He was surprised how big it was.  39mins For Dutch recap NZ JAPAN ETC”

https://www.youtube.com/watch?v=8NI_R-S7MQo

In the last couple of days NZs east coast has rattled with a 5.1 Seddon, Fukushima quaked. Rings alight so if your personally frequencies are feeling heavy… electromagnetic hits.

 

Add a new one he List:

6.4 Mag Vanuatu!

A 6.4 magnitude earthquake has hit Vanuatu, 85km northwest of Isangel, the US Geological Survey says.

In a post a short time ago, the Pacific Tsunami Warning Centre said a destructive Pacific-wide tsunami was not expected.

More to come

(Source Radio NZ)

Trump Threatens To Totally Destroy North Korea At UN: MSM Reports

U.S. President Donald Trump escalated his threats against North Korea over its nuclear challenge on Tuesday, threatening to “totally destroy” the country of 26 million people and mocking its leader, Kim Jong Un, as a “rocket man.”

In a hard-edged speech to the United Nations General Assembly, Trump offered a grim portrait of a world in peril, adopted a more confrontational approach to solving global challenges from Iran to Venezuela, and gave an unabashed defense of U.S. sovereignty.

“The United States has great strength and patience, but if it is forced to defend itself or its allies, we will have no choice but to totally destroy North Korea,” Trump told the 193-member world body, sticking closely to a script.

As loud, startled murmurs filled the hall, Trump described Kim in an acid tone, saying, “Rocket man is on a suicide mission for himself and his regime.”

His remarks rattled the leaders gathered in the green-marbled U.N. General Assembly hall, where minutes earlier U.N. Secretary-General Antonio Guterres appealed for statesmanship, saying: “We must not sleepwalk our way into war.”

Trump’s most direct military threat to attack North Korea, in his debut appearance at the General Assembly, was his latest expression of concern about Pyongyang’s repeated launching of ballistic missiles over Japan and underground nuclear tests.

© Jelswick/AP Images

comment. Swedish Foreign Minister Margot Wallstrom crossed her arms.

“It was the wrong speech, at the wrong time, to the wrong audience,” Wallstrom later told the BBC.

North Korea’s mission to the United Nations did not immediately respond to a request for comment. A junior North Korean diplomat sat in the delegation’s front-row seat for Trump’s speech, the North Korean U.N. mission said. His speech recalled the fiery nationalist language of his Jan. 20 inaugural address when he pledged to end what he called an “American carnage” of rusted factories and crime.

‘HOSTILE’ BEHAVIOR

His strongest words were directed at North Korea. He urged the United Nations member states to work together to isolate the Kim government until it ceases its “hostile” behavior.

In what may have been a veiled prod at China, the North’s major trading partner, Trump said: “It is an outrage that some nations would not only trade with such a regime but would arm, supply and financially support a country that imperils the world with nuclear conflict.”

The U.N. Security Council has unanimously imposed nine rounds of sanctions on North Korea since 2006 and Guterres appealed for that 15-member body to maintain its unity.

Turning to Iran, Trump called the 2015 nuclear deal negotiated by his predecessor, Barack Obama, an embarrassment and hinted that he may not recertify the agreement when it comes up for a mid-October deadline.

“I don’t think you’ve heard the last of it,” he said.

He called Iran an “economically depleted rogue state” that exports violence.

There was no immediate comment from either Iran’s U.N. delegation or its foreign ministry in Tehran.

French President Emmanuel Macron, in his U.N. speech, said his country would not close the door to negotiations over the North Korea crisis and staunchly defended the 2015 Iran nuclear deal.

“Renouncing it would be a grave error,” Macron said.

Trump said the United States does not seek to impose its will on other nations and will respect other countries’ sovereignty. He said the U.S. military would soon be the strongest it has ever been.

Trump called the collapsing situation in Venezuela “completely unacceptable” and warned the United States was considering what further actions it can take.

“We cannot stand by and watch,” he said.

Venezuela rejected Trump’s threats and said it was prepared to resist any U.S. actions, even a military invasion. Foreign Minister Jorge Arreaza called Trump a white supremacist who was returning the world to the Cold War of the 1980s.

“He came to the house of peace and promoted war and the destruction of certain countries,” Arreaza told reporters.

Financial markets showed little reaction to Trump’s speech, with most major assets hovering near the unchanged mark on the day.

“He stuck with his script,” said Lennon Sweeting, chief market strategist at XE.com in Toronto. “The dollar/yen jumped around a bit but it’s basically flat. I don’t think we will see any more volatility out of this.”

Source: Reuters/MSN

https://www.msn.com/en-nz/news/australia/at-un-trump-says-us-may-have-to-totally-destroy-north-korea/ar-AAsdRd1?li=BBqdg4K&ocid=SK2MDHP

FULL SPEACH FROM RT:

NZ Pipeline Leak Crisis: “You reap What You Sow”

by Martin Harris

New Zealand readers can’t help but have seen and heard the MSM reporting on the Marsden Refinery pipeline leak that has brought Auckland to it’s knees. “Thousands of flights cancelled” as jet fuel supply runs dry. “it could take up to 2 weeks to fix”, which means this will likely impact on the pumps shortly.

The mainstream news is, quite rightly, highlighting the weakness exposed in the single pipeline that supplies Auckland.

“A fuel pipeline that supplies Auckland has been damaged and it has already disrupted travel for thousands of people. Here’s what we know so far.

WHAT HAPPENED?

A 168 kilometre-long pipeline supplying jet fuel, petrol and diesel from the Marsden Point refinery in Northland to tanks in Wiri, Auckland, has been out of action since Thursday. It’s believed to have been hit by a digger being used to extract swamp kauri near Ruakaka.

Marsden Point refinery, Ruakaka, Whangarei. The pipeline that supplies fuel to Auckland from the refinery has been cut ...

STUFF

Marsden Point refinery, Ruakaka, Whangarei. The pipeline that supplies fuel to Auckland from the refinery has been cut after being damaged by a digger.”

https://www.stuff.co.nz/business/96941232/A-cut-pipeline-is-causing-a-jet-fuel-shortage-at-Auckland-Airport-Heres-what-we-know-so-far

Two things they SHOULD be reporting on but aren’t:

Firstly, the ENVIRONMENTAL IMPACT caused by spillage from the damaged pipeline,

and secondly, THE CAUSE of the damage. Initially, the reports said that an excavator extracting Swamp Kauri was responsible, but this aspect of the story quickly died before the spotlight could focus on this issue. (NOTE MENTION OF THIS IN THE ARTICLE ABOVE) this aspect has been subsequently downplayed.

These are both important environmental aspects of the story that are being swept under the carpet, and I think a clue as to “why?” lies with the Swamp Kauri issue. For those readers who may not know, Kauri is an endangered native tree. Thousands of them, however, lie buried and preserved in North Island swamps, apparently the victim of some ancient natural catastrophe. This is a finite resource and is supposedly managed and protected by law, to be used with care by local artisans to create uniquely New Zealand high-value products. Yet it is in fact being pillaged by overseas interests. The locals are being paid good money to do the hard work, so they keep their mouths shut and take the dollars with apparently little thought for the long term effects of corporate greed.

“Deputy Prime Minister Paula Bennett accepts that a mistake by a digger driver which caused widespread disruption to the nation’s aviation industry is “embarrassing”.

Energy Minister Judith Collins estimates the incident could cause “millions and millions of dollars” to the Auckland economy.

On Thursday, it was revealed that a digger once struck a key fuel pipe near Marsden Point, which by Sunday had caused a major leak that starved Auckland Airport of its main jet fuel supply.”

Well Collins should indeed be embarrassed, as SHE IS AT THE CENTRE OF THE SWAMP KAURI CONTROVERSY:

“In Parliament, Labour’s MP for Te Tai Tokerau, Kelvin Davis, asked the Government if ministers were “aware of reports that local wood manufacturers have been refused the opportunity to buy swamp kauri from Kauri Ruakaka mill, which was formerly called Oravida, and is allegedly involved in exporting raw swamp kauri?”

One of the directors of Oravida is National MP Judith Collins’ husband, David Wong-Tung.

Under further questioning in the House, Minister Nick Smith replied, “I thought the member (Kelvin Davis) was above getting involved in this kind of murk”.

Winston Peters then asked Dr Smith,: “Is he denying what is well known in Northland because people who are high up in Oravida are major donors to the National Party?”

Dr Smith replied that the law had been changed under Labour in 2004″

https://www.tvnz.co.nz/one-news/new-zealand/national-party-donors-allegedly-involved-in-illegal-kauri-exports-6350968

“Northland conservationists say the logs are being illegally exported under the guise of carvings and the Government is doing nothing about it.The Far North Protection Society said that, despite their complaints, its members were still seeing massive logs dug from ancient wetlands, heading south on trucks to be sold overseas.”

https://www.radionz.co.nz/news/national/276363/minister-defends-trade-in-kauri-swamp-logs

 

I guess my point here, is that the NZ Government is now seeing the repercussions of it’s own greed and putting personal business interests ahead of the long term welfare of the country and it’s natural resources:

You reap what you sow!

 

An Economic Lesson for China and Russia, by Paul Craig Roberts

An Economic Lesson for China and Russia
Paul Craig Roberts

 

 

Economic lesson Russia china
Is there anyone in Trump’s government who is not an imbecile?
After years of endless military threats against Russia—remember CIA deputy director Mike Morell saying on TV (Charlie Rose show) that the US should start killing Russians to give them a message, and Army Chief of Staff Mark Milley threatening “We’ll beat you harder than you have ever been beaten before”—now the US Treasury Secretary Steven Mnuchin threatens China. If China doesn’t abide by Washington’s new sanctions on North Korea, Mnuchin said the US “will put additional sanctions on them [China] and prevent them from accessing the US and international dollar system.”
https://www.rt.com/usa/403118-usa-china-sanctions-north-korea/
Here is the broke US government $20 trillion in public debt, having to print money with which to buy its own bonds, threatening the second largest economy in the world, an economy on purchasing power parity terms that is larger than the US economy.Mnuchin threatens China
Take a moment to think about Mnuchin’s threat to China. How many US firms are located in China? It is not only Apple and Nike. Would sanctions on China mean that the US firms could not sell their Chinese made products in the US or anywhere outside China? Do you think the global US corporations would stand for this?
What if China responded by nationalizing all US factories and all Western owned banks in China and Hong Kong? China US economy

Mnuchin is like the imbecile Nikki Haley. He doesn’t know who he is threatening.
Consider Mnuchin’s threat to exclude China from the international dollar system. Nothing could do more harm to the US and more good to China. A huge amount of economic transactions would simply exit the dollar system, reducing its scope and importance. Most importantly, it would finally dawn on the Chinese and Russian governments that being a part of the dollar system is a massive liability with no benefits. Russia and China should years ago have created their own system. Being part of Washington’s system simply lets Washington make threats and impose sanctions.
The reason Russia and China are blind to this is that they foolishly sent students to the US to study economics. These students returned completely brainwashed with neoliberal economics, “junk economics” in Michael Hudson’s term. This American economics makes Russian and Chinese economists de facto American stooges. They support policies that serve Washington instead of their own countries.
If China and Russia want to be sovereign countries, they must pray that the imbecile Mnuchin does cut them off from the dollar system that exploits them. Then Russia and China will have to put in place their own system and learn real economics instead of propaganda posing as economics that serves Washington’s interest.

Paul Craig RobertsPaul Craig Roberts

https://www.paulcraigroberts.org/2017/09/13/economic-lesson-china-russia/

British Army Drones: 1.1 Billion Pound Fail

Drone british army

Two multi-million pound British Army drones crashed after taking off from a base in mid Wales, the Ministry of Defence has confirmed.
The unmanned Watchkeeper aircraft were lost in the Irish Sea earlier this year, leading commanders to temporarily ground the entire fleet.
Flight trials resumed at Aberporth Airport in Ceredigion in early July.
The crashes are the latest in a series of accidents and delays to have hit the Army’s new spy planes.
The MoD ordered 54 Watchkeepers in 2005 as part of an £847m deal.
Originally, it was hoped they would be in service by 2010.
A recent report from the UK infrastructure and projects authority said the project had already cost £1.1bn.
Delays have been blamed on technical and safety issues and a lack of trained personnel.
The MoD said despite the crashes, it hoped to bring the aircraft into full service by the end of the year.
A spokesman said: “Inquiries into the specific incidents are ongoing as they look to learn all they can from the events”.

READ MORE AT SOURCE:

https://www.bbc.com/news/uk-wales-mid-wales-41259087