Jerry Jackson

Archive for the ‘Big Business’ Category

Rising temperatures at Fukushima raise questions over stability of nuclear plant

In Activism, Big Business, Fukushima, Japan, Human Rights, Society, World News on February 17, 2012 at 1:08 am

Workers at the Fukushima Daiichi nuclear power plant say they are regaining control of a reactor after its temperature rose dramatically this week, casting doubt on government claims that the facility has been stabilized.

Tests were ordered on all Japanese nuclear plants after the Fukushima disaster.

Tests were ordered on all Japanese nuclear plants after the Fukushima disaster. Photograph: Kyodo/Reuters

The plant’s operator, Tokyo Electric Power [Tepco] was forced to increase the amount of cooling water being injected into the No 2 reactor after its temperature soared to 73.3C earlier this week.

By Tuesday night, the temperature had dropped to 68.5C at the bottom of the reactor’s containment vessel, where molten fuel is believed to have accumulated after three of Fukushima Daiichi’s six reactors suffered meltdown after last year’s tsunami disaster.
The temperature at the bottom of the No 2 reactor vessel had risen by more than 20C in the space of several days, although it remained below the 93C limit the US nuclear regulatory commission sets for a safe state known as cold shutdown. Tepco said it had also injected water containing boric acid to prevent a nuclear chain reaction known as re-criticality.
The operator said the sudden rise in temperature did not call in to question the government’s declaration in December that all three damaged reactors had achieved cold shutdown.


Huddle Collaboration

“The temperature of the reactor pressure vessel seems to be close to peaking out,” Junichi Matsumoto, a Tepco spokesman, told reporters.
Late last year, however, the minister in charge of the response to the Fukushima disaster, Goshi Hosono, conceded that officials had no idea about the exact location of molten uranium fuel but assumed that it had come to rest at the bottom of its containment vessels.

Read entire article ‘Rising temperatures at Fukushima raise questions over stability of nuclear plant‘, at Global Freedom Technology Firm.
Let us scan your old photos, before they fade away

This Is What An Economic Depression Looks Like In The 21st Century

In Activism, Big Business, Economics, Human Rights, Police State, Society, World News on February 11, 2012 at 10:22 pm

Economic collapse in the 21st century Do you want to see what a 21st century economic depression looks like?  Just look at Greece.  Once upon a time, the Greek economy was thriving, the Greek government was borrowing money like there was no tomorrow and Greek citizens were thoroughly enjoying the bubble of false prosperity that all that debt created.

Those that warned that Greece was headed for a financial collapse were laughed at and were called “doom and gloomers”.  Well, nobody is laughing now.  You see, the truth is that debt is a very cruel master.  Greeks were able to live way beyond their means for many, many years but eventually a day of reckoning arrived.

At this point, the Greek economy has been in a recession for five years in a row, and the economic crisis in that country is rapidly getting even worse.  It was just recently announced that the overall rate of unemployment in Greece has soared above 20 percent and the youth unemployment rate has risen to an astounding 48 percent.  One out of every five retail stores has been shut down and parents are literally abandoning children in the streets.  The frightening thing is that this is just the beginning.  Things are going to get a lot worse in Greece.  And in case you haven’t been paying attention, these kinds of conditions are coming to the United States as well.  We are heading down the exact same road as Greece went down, and the economic pain that this country is eventually going to suffer is going to be beyond anything that most Americans would dare to imagine.

All debt spirals eventually come to an end.  For years, Greece borrowed huge amounts of very cheap money, but there came a point when the debt became absolutely strangling and the rest of the world refused to lend the Greek government money at such cheap rates anymore.

Greece would have defaulted long before now if the EU and the IMF had not stepped in to bail them out.  But along with those bailouts came strings.  The EU and the IMF insisted that the Greek government cut spending and raise taxes.

Well, those spending cuts and tax increases caused the economy to slow down.  Tax revenues decreased and deficit reduction targets were missed.  So the EU and the IMF insisted on even more spending cuts and tax increases.

Even after all of the spending cuts and all of the tax increases that we have seen, the debt to GDP ratio in Greece is still higher than it was before the crisis began.  Today, the Greek national debt is sitting at 142 percent of GDP.

Now the EU and the IMF are demanding even more austerity measures before they will release any more bailout money.

Needless to say, the Greek people are pretty much exasperated by all of this.  They created this mess by going into so much debt, but they certainly don’t like the solutions that are being imposed upon them.

Protesters in Greece are absolutely outraged that the EU and the IMF are now demanding a 22 percent reduction in the minimum wage.

Most families in Greece are just barely surviving at this point.  Unfortunately, Greece is probably looking at depression conditions for many years to come.

Over the past three years, the size of the Greek economy has shrunk by 16 percent.

In 2012, it is being projected that the Greek economy will shrink by another 5 percent.

Sadly, that projection is probably way too optimistic.

Over the past couple of months, it has been like someone has pulled the rug out from under the Greek economy.  Just check out the following numbers from an article in the Telegraph by Ambrose Evans-Pritchard…

Another normal day at the Hellenic Statistical Authority.

We learn that:

Greece’s manufacturing output contracted by 15.5pc in December from a year earlier.

Industrial output fell 11.3pc, compared to minus 7.8pc in November.

Unemployment jumped to 20.9pc in November, up from 18.2pc a month earlier.

I have little further to add. This is what a death spiral looks like.

Can you imagine unemployment going up by 2.7 percent in one month?

This is what a 21st century economic depression looks like.

And needless to say, civil unrest is rampant in Greece.

The following is how a USA Today article described some of the protests that we saw in Greece this week….

Scores of youths, in hoods and gas masks, used sledge hammers to smash up marble paving stones in Athens’ main Syntagma Square before hurling the rubble at riot police.

The country’s two biggest labor unions stopped railway, ferry and public transport schedules, and hospitals worked on skeleton staff while most public services were disrupted. Unions were planning protests in Athens and other cities around midday.

Greek citizens are exasperated by the endless rounds of austerity that are being imposed upon them.  They wonder how far all of this is going to go.

How much higher can taxes go in Greece?  Greece already has tax rates that are among the highest in Europe….

Greece has the third highest rate of VAT in Europe, second highest gas/petrol tax, third highest tax on social insurance contributions, fifth highest VAT on alcohol, highest property tax and one of the worst corporate tax rates, without the quality of living or competitiveness to match.

Read the rest of this entry »

Rupert Murdoch Lobbies Congress To Restrict Internet

In Activism, Big Business, Biography, Economics, Human Rights, Internet Censorship, Police State, Society on January 8, 2012 at 5:59 am

WASHINGTON — News Corp. honcho Rupert Murdoch threw his weight behind Congress’ attempt to restrict the Internet, personally lobbying leaders on Capitol Hill Wednesday for two measures that purport to combat piracy.

Rupert Murdoch Lobbies Congress To Restrict Internet

Rupert Murdoch

Murdoch’s media empire is among some 350 large corporations that have come out in favor of the Stop Online Piracy Act in the House, as well as the Protect IP Act in the Senate.

Both measures would require Internet operators to police activity online, and would mandate Internet giants like Google and AOL (the parent company of The Huffington Post and an opponent of the bills) and credit card companies to take down sites that have content deemed to be in violation of copyright rules.
The battle has pitted huge content generators like Disney and the motion picture industry against their online competitors, with each side reportedly spending some $90 million on lobbying efforts.
Rupert Murdoch, Chairman and Chief Executive O...

Image via Wikipedia

Supporters say the measures will help curb theft and preserve the integrity of the Internet. Opponents charge that the measures amount to censorship that will stifle innovation and impose higher costs on consumers.

News Corp. owns 20th Century Fox films and many television franchises such as “The Simpsons.” The firm has long lobbied on the issue, donating to members on both sides of the aisle.

Chaos On The Streets Of America

In Activism, Big Business, Economics, Human Rights, Police State, Society on September 18, 2011 at 1:10 am

28964 My Labor Day Flag

Image by bsabarnowl via Flickr

Should we just expect mass chaos on the streets of America every time a major holiday rolls around? At least 42 people were hit by gunfire in New York City over the Labor Day weekend. The violence got so bad that even the mayor felt compelled to publicly address it. In Chicago, at least 6 people(including a man in a wheelchair) were killed over the Labor Day weekend.

Sadly, this is just a continuation of a trend that we have seen build over the past few years. At the beginning of the summer, there was terrible violence all over America during the Memorial Day weekend. We also saw violence break out during 4th of July celebrations. It appears that wherever large groups of young people gather in America today, there is going to be a very good chance that chaos is going to erupt.

Almost wherever you look, you can see the frustration of the American people starting to boil over. Very few public places seem to be immune.

For example, there have been very disturbing incidents of violence at quite a few NFL games recently. Just check out this video and this video.

There was even one incident recently where coaches and players ganged up to brutally attack a referee during a youth football game in Florida.

What in the world is happening to this country?

People are getting angrier and angrier and they are starting to lash out.

As I have documented previously, there have been a disturbing number of flash mob robberies in the United States this year. When dozens of young people start banding together to loot stores, you know that things are getting bad. Just check out this video of a recent example from the state of Maryland.

When individuals or small groups commit crimes that is bad enough.

But when large groups of people start banding together to commit crimes that is absolutely frightening.

The sad truth is that it is not even safe to take your kids to the state fair anymore. The following is how one local ABC News affiliate described the “flash mob” attacks that took place at the Wisconsin state fair this year….

Milwaukee police said that around 11:10 p.m., squads were sent to the area for reports of battery, fighting and property damage being caused by an unruly crowd of “hundreds” of people. One officer described it as a “mob beating.”

Police said the group of young people attacked fair goers who were leaving the fair grounds. Police said that some victims were attacked while walking. They said others were pulled out of cars and off of motorcycles before being beaten.

Could you imagine your children watching that scene unfold from the backseat of your vehicle?

Could you imagine your wife and your children being pulled out of your vehicle and beaten by rampaging criminals?

Yes, this kind of thing is now happening in the heartland of America.

Even young girls are increasingly participating in violence. Just check out this video of a group of teen girls brutally assaulting a worker outside City Hall in Philadelphia earlier this year.

How in the world did those young girls learn to act like that?

Sadly, that was not an isolated incident. Young women all over the nation have become absolutely brutal. In Minnesota recently, a mob of teen girls beat the living daylights out of a mother and her two daughters until they were black and blue. Apparently the mob of teen girls was enraged over a pair of missing sunglasses.

In America today, the love of most people has grown cold. A growing number of Americans (especially young Americans) seem to have very little empathy for anyone else.

As the economy crumbles, many Americans find themselves doing very low things in order to survive. So far in 2011, dog thefts have increased by 49 percent. These days, people will steal anything of value if it is not bolted down.

What is certainly not helping things is the rampant unemployment all over the nation. Sadly, the younger that you are, the more likely that you are to be unemployed.

According to a recent USA Today article, more than one-fourth of all teens are unemployed at this point….

The unemployment rate for 16- to 19-year-olds ticked up to 25.4% in August from 25% the previous month, the Labor Department said last week. For black teens, unemployment leaped to 46.5% from 39.2% in July. The nation’s jobless rate was unchanged at 9.1%.

But those numbers only tell part of the story. The real picture starts to emerge when you look at how many teens actually do have a job.

Back in the year 2000, more than 50 percent of all Americans teens had a job.

This summer, only 29.6% of all American teens had a job.

So we have a whole lot of teens with a whole lot of time on their hands.

Unfortunately, there just aren’t enough jobs for everyone out there right now. There is intense competition even for the most basic jobs.

The number of Americans with jobs overall continues to decline. For example, the percentage of Californians that are 16 years or older that have a job is the lowest that is has been in over 30 years.

What is even more frightening is that we have just seen another huge wave of layoffs. The following is from a recent CBS article….

It’s been a summer storm of pink slips. Along with Borders, Bank of America, Cisco, Lockheed Martin, and Goldman Sachs have all recently announced mass layoffs.

But a lack of jobs is far from the only reason why the fabric of American society is falling to pieces.

Many believe that another huge reason for all of the chaos on the streets of America is the breakdown of the American family. In 1960, married couples accounted for 75 percent of all households in America. Today, they account for just 48 percent of all households.

Millions upon millions of American children are growing up with only one parent, and that one parent usually has to work so hard that he or she is hardly ever home.

So those kids are being raised by our public schools, by government institutions, by the television, by movies, by video games and by other kids.

Now we are starting to reap what we have been sowing as a society.

Many of our greatest cities have been transformed into rotting war zones. As millions of jobs have been shipped overseas, entire communities have been gutted. Those that remain in these cities find themselves trying to survive in an environment where morality has been thrown out the window.

For example, the following is what one British reporter found during his visit to Detroit….

 

Continue reading “Chaos on the streets of America” at Global Freedom Technology Firm.

Government to Monitor Social Networks For “Extremist Propaganda”

In Activism, Big Business, Economics, Hacktivist, Human Rights, Internet Censorship, Military, Police State, Society on August 6, 2011 at 10:32 pm


Perfect alternative to a checking account

New White House plan follows Pentagon advisory targeting protests against Federal Reserve

A new strategy document released by the White House promises to “closely monitor…the Internet and social networking sites” in order to “counter online violent extremist propaganda” as the federal government attempts to embed itself further in local communities under the guise of preventing domestic extremism.

Federal Reserve

United States Federal Reserve

100% Guaranteed Approval Debit MasterCard
The document, Empowering Local Partners to Prevent Violent Extremism in the United States (PDF), focuses on identifying Americans who have supposedly been radicalized or groomed by Al-Qaeda to carry out attacks in the United States.

NOD32 v3.0 - Save 25% - Download Now

As the L.A. Times notes , the plan involves “federal departments not usually associated with national security,” and is heavily focused around increasing the federal government’s involvement with schools and the “emotional and behavioral development” of young people.
ESET Smart Security. Get award-winning virus protection with antispam and personal firewall.
The document defines extremist propaganda as that which is used to “feed on grievances” and “assign blame.” The government vows to “aggressively” combat such ideology by “continuing to closely monitor the important role the internet and social networking sites play in advancing violent extremist narratives.”

10% Off Sale! Save 10% now with GoDaddy.com!

In targeting the Internet and social networking websites for surveillance in the name of fighting domestic terrorism, the White House is continuing in the vein of the previous administration who in 2006 revealed that since 9/11 they had been pursuing a plan to diminish the role of “conspiracy theories” as a primary recruitment tool for terrorists.

The document arrives in the same week that the Pentagon also announced it would be hiring individuals to “detect and track popular ideas on social networks”.
Reach your customers in just a few Clicks – Express Email Marketing® from GoDaddy.com
Continue reading ‘Government to Monitor Social Networks For “Extremist Propaganda”’ at Global Freedom Technology Firm.
Globaltechfirm.com


GoDaddy Service Is #1! $7.49.com available now.

Bill Approved To Create Massive Surveillance Database Of Internet Users

In Activism, Big Business, Human Rights, Internet Censorship, Police State, Society on July 30, 2011 at 1:32 am


468x60 Europe on Sale Banner

Privacy busting legislation a “stalking horse for a massive expansion of federal power”

Massive Surveillance Database

Internet User Surveillance

Find Great Deals on Alaska Cruises – Ongoing

Legislation that will force Internet providers to store information on all their customers and share it with the federal government and law enforcement agencies was significantly beefed at the last minute yesterday and approved by a U.S. House of Representatives committee.
Under the guise of protecting children from internet pornographers, the House Judiciary committee voted 19-10 to approve a bill that will require Internet Service Providers to store temporarily assigned IP addresses for future government use.
In addition, the bill was re-written yesterday to also include the enforced retention of customers’ names, addresses, phone numbers, credit card numbers and bank account numbers.
As Declan McCullagh of CNet reports, the panel rejected an amendment that would have clarified that only IP addresses must be stored.
“The bill is mislabeled,” said Rep. John Conyers of Michigan, the senior Democrat on the panel. “This is not protecting children from Internet pornography. It’s creating a database for everybody in this country for a lot of other purposes.”
It represents “a data bank of every digital act by every American” that would “let us find out where every single American visited Web sites,” said Rep. Zoe Lofgren, who led Democratic opposition to the bill. The Californian Representative described the legislation as a “mess of a bill” and a “stalking horse for a massive expansion of federal power”.
Rep. Darrell Issa, R-Calif., noted that the bill would open a Pandora’s box of government abuse.
“This is not about child porn. It never has been and never will be,” Issa said. “This is a convenient way for law enforcement to get what they couldn’t get in the PATRIOT Act.”
Advocates for the legislation include the National Sheriffs’ Association, which has said it “strongly supports” mandatory data retention. The bill has also attracted endorsements from the National Center for Missing and Exploited Children, as well as the FBI.

Your Trip, Your Way at Expedia.ca

In a last ditch effort to derail the bill, the ACLU, along with dozens of other privacy watchdog groups penned a letter (PDF) to House Judiciary Committee Chairman Lamar Smith earlier this week, noting that “any data retention mandate is a direct assault on bedrock privacy principles.”
“The data retention mandate in this bill would treat every Internet user like a criminal and threaten the online privacy and free speech rights of every American, as lawmakers on both sides of the aisle have recognized,” Senior Staff Attorney Kevin Bankston of the Electronic Frontier Foundation said.
“Requiring Internet companies to redesign and reconfigure their systems to facilitate government surveillance of Americans’ expressive activities is simply un-American. Such a scheme would be as objectionable to our Founders as the requiring of licenses for printing presses or the banning of anonymous pamphlets.” Bankston added.
“This is China-style law enforcement, treating everyone as a potential suspect and requiring the collection of personal information just in case it might later be useful to the government,” said Greg Nojeim, senior counsel for the Washington based Center for Democracy and Technology, in an interview with Bloomberg.
A fortnight ago, the Electronic Privacy Information Center (EPIC) appealed before the House Judiciary Committee, asking that Congress recognize the fact that retaining identifying information would put at risk “99.9% of Internet users.”
EPIC President Marc Rotenberg pointed out that it is more prudent to seek data minimization rather than data retention, in the wake of increased risk of data breaches and identity theft. Rotenberg noted that enforced data retention would make ISPs more vulnerable to hackers, citing the LulzSec group, which recently claimed responsibility for temporarily shutting down a CIA website and other high-profile hacks.
“Minimizing stored user data reduces incentives for hackers to attack data storage systems by reducing the amount of data available to steal. Minimization also reduces the costs of data breaches,” Rotenberg said in prepared testimony.
Rotenberg suggested that the data could be used to bring criminal charges that were unrelated to child pornography, noting that any mandatory retention of data would be accessible to police investigating any crime.
“Although this data retention requirement has been introduced as part of a bill focused on child sexual exploitation, there is no evidence to suggest that the majority of law enforcement requests for customer subscriber information relate to child protection cases.” Rotenberg argued.


Expedia.com

Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard

In Big Business, Military, World News on July 22, 2011 at 10:39 pm


Shop Green. Help the Environment

Afghan President Karzai's brother shot dead

Afghan President Karzai's brother


AccessoryGeeks.com - You Got it from A Geek

Ahmad Wali Karzai, the half brother of Afghan president Hamid Karzai, was assassinated by one of his own bodyguards Tuesday morning. Friend and trusted head of security Sardar Mohammed shot him in the head and chest. Mohammed was in turn shot and killed by fellow bodyguards. The Taliban claimed responsibility for the assassination.

iphone 4 cases, cases for iphone 4, iphone cases

Afghan President

Karzai’s brother shot dead

 

In 2009 it was reported that Karzai was a major player in the Afghan opium trade. According to reports, other members of the Karzai family are involved “head-to-heels” in the drug business.
Ahmad Wali Karzai also worked for the CIA.
“The CIA has been complicit in the global drug trade for years,” a former intelligence official told Newsmax in 2002. “The CIA did almost the identical thing during the Vietnam War, which had catastrophic consequences – the increase in the heroin trade in the USA beginning in the 1970s is directly attributable to the CIA.”
According to a report in Presscore, the former Unocal employee Hamid Karzai and his family are heavily involved in the CIA’s drug business.
“85 per cent of all drugs produced in Afghanistan is being shipped aboard US aircraft. Foreign diplomats have stated that the United States military buy drugs from local Afghan drug lords who deal with field commanders overseeing eradication of drug production,” states the report. The CIA provides protection for the enterprise.
The CIA has been in the drug running business since the 1950s. In Burma, Vietnam, Laos, Latin America, and Afghanistan, the CIA — also known as the “Cocaine Import Agency” — has remained at the forefront of the international illicit drug trade. The journalist Gary Webb and the San Jose Mercury News tied the CIA and the Contras to a large crack cocaine ring in Los Angeles. Webb paid with his life for revealing this information to the public.
Before the U.S. invaded Afghanistan, the Taliban had imposed a ban on opium production. This resulted in opium production collapsing by more than 90 per cent. It was the U.S. supported Northern Alliance that came to the rescue and began protecting the production of raw opium.
“CIA-supported Mujahedeen rebels [who in 2001 were part of the Northern Alliance] engaged heavily in drug trafficking while fighting against the Soviet-supported government and its plans to reform the very backward Afghan society,” William Blum writes in The Real Drug Lords.
In a Fox News report aired in April of 2010, correspondent Geraldo Rivera interviewed a solder in Afghanistan who admitted the U.S. allows the opium trade to flourish.
Continue reading ‘Afghan CIA Drug Kingpin Shot Dead by Own Bodyguard‘ at Global Freedom Technology Firm. 



10% off any order over $55 at Case-mate & free shipping! Use code: cmsave10



ESET Smart Security - Save 25%

ESET Smart Security. Get award-winning virus protection with antispam and personal firewall.

Living in the Shadows: A World of Black Ops and Cyber Wars

In Big Business, Hacktivist, Human Rights, Internet Censorship, Military, Police State, Society, World Government, World News on June 29, 2011 at 9:08 pm

The very word “secrecy” is repugnant in a free and open society; and we are as a people inherently and historically opposed to secret societies, to secret oaths, and to secret proceedings.
John F. Kennedy
A shadow has descended on freedom worldwide:  Congress is in the dark; sovereign foreign nations are in the dark; and the average American can’t imagine that a world of espionage, black ops, psy ops, and the apparatus of a surveillance-industrial complex run by globalists has them in the crosshairs.
When exiting CIA director, Leon Panetta, openly admitted that shadow wars and black ops should be a strategy employed through direct military control by the CIA, it marked a new Dark Age.


Send global bulk SMS easily with Communicator 2

‘(It’s) appropriate for the head of such department or agency [read: CIA] to direct the operations of the element providing that military support while working with the Secretary of Defense.’ A ‘significant advantage of doing so,’ he continued, ‘is that it permits the robust operational capability of the U.S. Armed Forces to be applied when needed.’
That’s contentious: it would put the military in the territory of performing operations that the government can legally deny all knowledge of ordering… (Source)
A later response by Panetta to a question by Sen. McCain literally empowers Barack Obama to become a dictator, within a military dictatorship framework, as it heralds a philosophy of extralegal measures taken by the president “when needed” by the military:


‘Senator, I believe very strongly that the president has the constitutional power as commander in chief to take steps that he believes are necessary to protect this country and protect our national interests,’ said Panetta. ‘And obviously, I think it’s important for presidents to consult, to have the advice of Congress. But in the end, I believe he has the constitutional power to do what he has to do to protect this country.’ (
Source
)


Batteries, Chargers & Adapters

This statement is telling, as it refers to Congress as a place where a president should seek advice, not approval.  This assertion is the precise difference between a constitutional republic and an authoritarian dictatorship.
Read entire article here ‘Living in the Shadows: A World of Black Ops and Cyber Wars‘ at Global Freedom Technology Firm. Also watch ‘Shadow Wars: US Wants to Kill Own Citizens'(video) & ‘Mike German & Scott Crow Discuss FBI’s Expanded Domestic Surveillance Program  1 & 2(videos).’

Free Shipping on ALL orders at eBatts.com

Batteries, Chargers & Adapters


Free Shipping!

China Has Divested 97 Percent of Its Holdings in U.S. Treasury Bills

In Big Business, China, Human Rights, Police State, Society, World News on June 18, 2011 at 9:46 pm


Free Shipping This Month Only!

Engraving of the U.S. Treasury building in 1804.

Image via Wikipedia

China has dropped 97 percent of its holdings in U.S. Treasury bills, decreasing its ownership of the short-term U.S. government securities from a peak of $210.4 billion in May 2009 to $5.69 billion in March 2011, the most recent month reported by the U.S. Treasury.
Treasury bills are securities that mature in one year or less that are sold by the U.S. Treasury Department to fund the nation’s debt.
Mainland Chinese holdings of U.S. Treasury bills are reported in column 9 of the Treasury report linked here.
Until October, the Chinese were generally making up for their decreasing holdings in Treasury bills by increasing their holdings of longer-term U.S. Treasury securities. Thus, until October, China’s overall holdings of U.S. debt continued to increase.
Since October, however, China has also started to divest from longer-term U.S. Treasury securities. Thus, as reported by the Treasury Department, China’s ownership of the U.S. national debt has decreased in each of the last five months on record, including November, December, January, February and March.
Prior to the fall of 2008, acccording to Treasury Department data, Chinese ownership of short-term Treasury bills was modest, standing at only $19.8 billion in August of that year. But when President George W. Bush signed legislation to authorize a $700-billion bailout of the U.S. financial industry in October 2008 and President Barack Obama signed a $787-billion economic stimulus law in February 2009, Chinese ownership of short-term U.S. Treasury bills skyrocketed.
By December 2008, China owned $165.2 billion in U.S. Treasury bills, according to the Treasury Department. By March 2009, Chinese Treasury bill holdings were at $191.1 billion. By May 2009, Chinese holdings of Treasury bills were peaking at $210.4 billion.
However, China’s overall appetite for U.S. debt increased over a longer span than did its appetite for short-term U.S. Treasury bills.
In August 2008, before the bank bailout and the stimulus law, overall Chinese holdings of U.S. debt stood at $573.7 billion. That number continued to escalate past May 2009– when China started to reduce its holdings in short-term Treasury bills–and ultimately peaked at $1.1753 trillion last October.


Speech Recognition for Mac OS X

Save 10% on Dragon Dictate with Microphone. Use coupon MACSPEECH during checkout.

As of March 2011, overall Chinese holdings of U.S. debt had decreased to 1.1449 trillion.
Most of the U.S. national debt is made up of publicly marketable securities sold by the Treasury Department and I.O.U.s called “intragovernmental” bonds that the Treasury has given to so-called government trust funds—such as the Social Security trust funds—when it has spent the trust funds’ money on other government expenses.
The publicly marketable segment of the national debt includes Treasury bills, which (as defined by the Treasury) mature in terms of one-year or less; Treasury notes, which mature in terms of 2 to 10 years; Treasury Inflation-Protected Securities (TIPS), which mature in terms of 5, 10 and 30 years; and Treasury bonds, which mature in terms of 30 years.
At the end of August 2008, before the financial bailout and the stimulus, the publicly marketable segment of the U.S. national debt was 4.88 trillion. Of that, $2.56 trillion was in the intermediate-term Treasury notes, $1.22 trillion was in short-term Treasury bills, $582.8 billion was in long-term Treasury bonds, and $521.3 billion was in TIPS.
At the end of March 2011, by which time the Chinese had dropped their Treasury bill holdings 97 percent from their peak, the publicly marketable segment of the U.S. national debt had almost doubled from August 2008, hitting $9.11 trillion. Of that $9.11 trillion, $5.8 trillion was in intermediate-term Treasury notes, $1.7 trillion was in short-term Treasury bills; $931.5 billion was in long-term Treasury bonds, and $640.7 billion was in TIPS.
Before the end of March 2012, the Treasury must redeem all of the $1.7 trillion in Treasury bills that were extant as of March 2011 and find new or old buyers who will continue to invest in U.S. debt. But, for now, the Chinese at least do not appear to be bullish customers of short-term U.S. debt.
Get a Personal Assistant, For FREE! Try it now!
     Read entire article ‘ China has divested 97 percent of its holdings in U.S. Treasury Bills at Global Freedom Technology Firm‘.
ScanCafe

ScanCafe, the scanning service used by pro photographers and Pulitzer Prize winners. It’s available to you from just 35 cents an image.

ScanCafe.com


Secondipity.com HOT SALE

Bank of America Gets Pad Locked After Homeowner Forecloses On It

In Activism, Big Business, Economics, Human Rights, Police State, Society on June 6, 2011 at 4:00 am

Collier County, Florida — Have you heard the one about a homeowner foreclosing on a bank?

Well, it has happened in Florida and involves a North Carolina based bank.

Instead of Bank of America foreclosing on some Florida homeowner, the homeowners had sheriff’s deputies foreclose on the bank.

It started five months ago when Bank of America filed foreclosure papers on the home of a couple, who didn’t owe a dime on their home.

Watch Exclusive Video : Bank of America Gets Pad Locked After Homeowner Forecloses On It

Continue reading at Global Freedom Technology Firm:


Introducing the Xperia PLAY now on Wirefly!



Wrapsol.com


Shop Wirefy for the hot new LG Revolution!

%d bloggers like this: