Monthly Archives: August 2012

China bubble in ‘danger zone’ warns Bank of Japan

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“The surge in Chinese home prices and loan growth over the past five years has surpassed extremes seen in Japan before the Nikkei bubble popped in 1990. Construction reached 12pc of GDP in China last year; it peaked in Japan at 10pc.
Mr Nishimura said credit and housing booms turn ‘malign’ once the ratio of working age people to dependents rolls over as it did in Japan. China’s ratio will peak at around 2.7 over the next couple of years as the aging crunch arrives. It will then go into a sharp descent, compounded by the delayed effects of the one-child policy.”

http://www.telegraph.co.uk/finance/financialcrisis/9491069/China-bubble-in-danger-zone-warns-Bank-of-Japan.html

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South Africa mine: Lonmin drops threat to fire workers

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“Mining giant Lonmin has dropped its threat to fire workers who failed to return to work at a South African mine after deadly clashes last week. The decision came after the South African government appealed to the firm to withdraw the ultimatum for workers at the Marikana mine. Last week, police shot dead 34 strikers at the mine. The country’s parliament has held a special debate on the killings, amidst a national outcry. The miners, who are currently earning between 4,000 and 5,000 rand ($484-$605) a month, say they want their salary increased to 12,500 rand ($1,512).”

http://www.bbc.co.uk/news/world-africa-19330271

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Australian Mining Companies Are Desperate For Workers And Want To Hire US Veterans

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“With Post 9/11 veteran unemployment hovering near nine percent and the services preparing to drastically cut forces, Australian mining companies have stepped up to grab some of that labor for their short staffed operations down under.  Seth Robson at Stars and Stripes reports the mines are looking for everything from plumbers and electricians, to heavy-equipment operators and project managers with pay ranging from $65K to 200K to start.”

http://www.businessinsider.com/australian-mining-companies-are-courting-us-veterans-for-high-paying-jobs-down-under-2012-8

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Indian public sector banks launch two-day strike

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“Up to one million Indian public sector bank employees started a two-day nationwide strike on Wednesday, protesting against reforms that they fear could lead to mergers and job losses.  Nearly 87,000 branches were expected to remain closed, but the Indian Banks’ Association (IBA) said most private and foreign banks would continue to operate.  Public sector banks employ over one million people and control about 75 percent of India’s banking business, but disruption to automated teller machines (ATMs) was expected to be limited as they are privately run.”

http://www.rawstory.com/rs/2012/08/22/indian-public-sector-banks-launch-two-day-strike/

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“Tax Justice” Report Provides Renewed Justification for Offshore Crackdown

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“The ‘Tax Justice Network’ (TJN) has released an updated report calling for renewed efforts to tax more than US$32 trillion that it claims is stashed tax-free in offshore havens.
The OECD has been extraordinarily successful selling this anti-free-market worldview, with the aid of groups like the TJN. A global network of tax information exchange agerements (TIEAs) enforces the capital controls the OECD demands.  But distrust of free markets and free movement of capital aren’t the only problems with Mr. Henry’s study.”

https://nestmann.com/tax-justice-report-provides-renewed-justification-for-offshore-crackdown/

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California Farm Labor Shortage ‘Worst It’s Been, Ever’

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“There’s a different sort of drought plaguing California, the nation’s largest farm state. It’s $38 billion agricultural sector is facing a scarcity of labor. The Western Growers Association told CNBC its members are reporting a 20 percent drop in laborers this year. Stronger border controls are keeping workers from crossing into the U.S. illegally, and the current guest worker program is not providing enough bodies.  Some crops aren’t getting picked this season due to a lack of workers.”

http://www.cnbc.com/id/48725145

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DEA uproots over 578,000 cannabis plants in national parks

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“More than 578,000 cannabis plants, worth over $1 billion, have been uprooted from forests and national parks in a major operation in the western United States, the Justice Department said.  The two-month enforcement operation, which began July 1 in seven states — California, Arizona, Idaho, Nevada, Oregon, Utah and Washington — was led by the nation’s anti-drug and forest authorities.  Fourteen people were arrested and charged in the Eastern District of California in connection with the illegal crops.”

http://www.rawstory.com/rs/2012/08/21/dea-uproots-over-578000-cannabis-plants-in-national-parks/

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ACLU Seeks GPS Spying Documents From FBI

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“The left-leaning civil rights group on Thursday launched a lawsuit in the US District Court for the Southern District of New York in the hopes of forcing the Federal Bureau of Investigation to hand over policy memos that detail how the crime-fighting agency is implementing the US Supreme Court’s recent Jones decision curtailing the use of GPS devices to spy on motorists without a warrant.  ACLU requested the memos on July 18, but the law enforcement agency refused to comply with the provisions of the freedom of information act.”

http://www.thenewspaper.com/news/38/3875.asp

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Remember Ruby Ridge

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“A new generation of young people who have never heard of Ruby Ridge are now emerging from the public school system and are heading off to college and will thereafter begin their careers in business, education, journalism, government and other fields. This generation will find it hard to fathom that the federal government could have killed a boy and an unarmed woman and then tried to deceive everyone about what had actually occurred and, in some instances, rationalize what did occur.”

http://www.policemisconduct.net/remember-ruby-ridge/

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Brandon Raub Being Transferred to Veterans Hospital Psych Ward

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“Special Justice Walter Douglass Stokes for the General District Court for the City of Hopewell, Va., has denied an emergency motion filed by attorneys for The Rutherford Institute to stop former Marine Brandon Raub from being forcibly transferred to a psychiatric facility more than three hours away from his family, friends and legal team. In a hearing before Special Justice Walter Douglass Stokes on August 20, government officials again pointed to Raub’s Facebook posts as the sole reason for their concern and for his continued incarceration.”

http://www.economicpolicyjournal.com/2012/08/hot-brandon-raub-being-transferred-to.html

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