Category Archives: Debt

Chart of the day: Student debt growth soars


And the biggest increase in debt load is among students from higher-income families. From a new report [PDF] from the Pew Research Center:

BLOG Student debt

EnviroWatch: Fire fears, critters, chemicals


Another short compendium today, though not for lack of searching. We begin with this from the Ecologist:

California burning points to more intense wildfires

As the forest fires burn on in the western US, writes Kieran Cooke, a new report predicts that climate-led temperature rise will lead to millions more acres across the world being burned to the ground, especially in southern Europe and Australia.

Smoke from fires burning at present in northern California has been detected as far north as Canada.

Thousands of firefighters are battling to contain blazes that together cover nearly 300,000 acres of forest and shrub wood. And it looks like things are going to get worse.

And now a new report by the US-based Cost of Carbon Pollution project forecasts that such fires are going to become ever more intense in the years ahead – not just in the western US, but elsewhere round the world, and particularly in areas of southern Europe and in Australia.

Next, an overdose from the Atlantic Monthly:

The FDA Says Farmers Are Giving Animals Too Many Antibiotics

Overuse of the drugs has increased over the past few years. That’s not good for human health.

A piece of bad news from the Food and Drug Administration: In the war against antibiotic overuse, the antibiotics are winning.

The amount of antibiotics given to farm animals in the United States increased by 16 percent between 2009 and 2012, the agency announced in a new report, and nearly 70 percent of those used are considered “medically important” for humans. That’s trouble for us as much as it is for our four-legged friends, who consume the majority of antibiotics in the U.S.—as much as 80 percent are given to the chickens, pigs, and cows bound for our grocery-store shelves, both to spur more rapid growth and to proactively protect them from disease.

Such widespread use of antibiotics has led to bugs that are getting tougher and tougher to treat. Worldwide, strains of drug-resistant tuberculosis and gonorrhea are on the rise. In the U.S., antibiotic resistance caused more than two million illnesses in 2013, according to a report by the Centers for Disease Control and Prevention, and an estimated 23,000 deaths, adding up to more than $20 million in healthcare costs.

From the Guardian, beguiled by the long green?:

WWF International accused of ‘selling its soul’ to corporations

  • Pandaleaks writer says conservation group has forged links with business which is using it to ‘greenwash’ their operations

WWF International, the world’s largest conservation group, has been accused of “selling its soul” by forging alliances with powerful businesses which destroy nature and use the WWF brand to “greenwash” their operations.

The allegations are made in an explosive book previously barred from Britain. The Silence of the Pandas became a German bestseller in 2012 but, following a series of injunctions and court cases, it has not been published until now in English. Revised and renamed Pandaleaks, it will be out next week.

Its author, Wilfried Huismann, says the Geneva-based WWF International has received millions of dollars from its links with governments and business. Global corporations such as Coca-Cola, Shell, Monsanto, HSBC, Cargill, BP, Alcoa and Marine Harvest have all benefited from the group’s green image only to carry on their businesses as usual.

The Independent sounds a death knell:

Elephants and rhinos ‘could be extinct within two decades’ because of ivory poaching

Elephants and rhinos could be extinct within the next two decades, conservation campaigners are warning.

Wildlife campaigners say an estimated 35,000 elephants and 1,000 rhinos are killed each year as demand for ivory and rhino horn drives increasing poaching rates.

This demand means both species could potentially be wiped out within the next 20 years.

From the Jakarta Globe, capital critter conservation:

US Reduces Indonesian Debt in Exchange for Wildlife Protection

The United States has struck a deal to reduce Indonesia’s debts in exchange for Jakarta pledging about $12 million for programs to protect endangered species and their habitats on Sumatra island, conservationists said Friday.

The move adds to a similar agreement in 2009, under which the Indonesian government pledged $30 million for increased protection of Sumatra’s forests, said NGO Conservation International, which helped broker the deal.

The agreement, which was inked this week, will provide additional funds for environmental groups to improve programmes aimed at protecting the Sumatran low-land rainforests as well as efforts to increase populations of threatened animals.

The New York Times looks at the C-word in Brazil:

Clashing Visions of Conservation Shake Brazil’s Presidential Vote

From the podium at the United Nations to declarations on the campaign trail, President Dilma Rousseff is celebrating Brazil’s protection of the Amazon. But satellite data released last month shows that Brazil’s annual deforestation rate in the Amazon has climbed again after years of declines, rising 29 percent, leaving her vulnerable to attacks in this nation’s acrimonious presidential race. The vote is on Sunday.

“The mantra in Brasília is that they have deforestation under control, but the evidence on the ground shows this is not true,” said Philip M. Fearnside, a prominent researcher at the National Institute for Amazon Research in Manaus, the Amazon’s largest city.

Beyond alarming scientists, who note the importance of the vast rain forest to the world’s climate and biodiversity, the sparring over the Amazon symbolizes clashing visions of Brazil’s future. Both Ms. Rousseff and her top rival, Marina Silva, an environmental leader, say they want forest conservation, but the president’s model seeks economic growth by tapping into the Amazon’s natural resources, including huge mining projects and dams.

And our final item, via the Mainichi, mutating munchies:

Food safety commission recognizes snack food compound can cause gene mutations

The Cabinet Office’s Food Safety Commission called acrylamides, a chemical compound found in snack foods like potato chips, a carcinogen that can cause gene mutations, in a draft it released on Oct. 3.

The draft marks the first official evaluation of acrylamides’ alleged carcinogenic properties by Japanese authorities. In other countries, these properties have been recognized since the early 2000s based on various research studies, and those countries have been warning consumers about them. The Japanese food safety commission team has been independently looking into the substance’s properties since December 2011.

Based on animal experiments in Japan and in other countries, the team determined that acrylamides are carcinogens that can mutate genes and chromosomes and therefore even have effects on the subsequent generation.

Profiteering banksters and European separatism


From the Real News Network, a Mike McGuire interview Benedictine nun and theologist Sister Teresa Forcades, a physician with a doctorate in public health who is a prominent activist in the movement to detach Catalonia from Spain.

The focus is on the role banksters and the austerian neoliberal Eurocrats who have enabled their rampage of looting in Southern Europe.

From The Real News Network:

Spanish Independence Movements and the Recolonization of Southern Europe

From the transcript:

MCGUIRE: And it’s not just in Catalonia. It’s all over Spain. The context where this exchange of money is happening is also one of devastatingly high unemployment, especially among youth, correct?

FORCADES: Right. I can give you the numbers. It’s–like, general unemployment rate is greater than 25 percent–that’s one-fourth, one of every four people. But among young people it’s 50 percent, so one out of every two. And this is also in the context, as I said, of a situation that makes this social precariousness, right, go worse because of the political decisions that are being made. Yes, that’s right.

And also I wanted to add something, which is, when we speak of this crisis, right, we have to remember that in Spain the total debt at the beginning of the crisis, 2007, was–public debt was only 19 percent. That’s less than the U.S. debt, much less than that, and, actually, one of the lowest in the whole Europe. So this idea that Spain had not done the things right and that’s why the state itself had such a big debt, that’s not true. It had a 19 percent debt. The 81 percent was private debt, and that is, of course, not only banks–also private families, small businesses.. But that’s a very minor part of the private debt. So the greatest, more than 90 percent of the private debt, which is 81 percent of the total debt, that was big institutions, big corporations, and particularly banking institutions.

So the decision was made: like in the States, also here the banks were rescued, at a greater cost, or really great cost. So in Spain, the same thing, right? We cannot let these big institutions fall, because everybody would fall after them. So now we’re going to do this operation of giving money to them. We don’t have the money; we have to lend the money from the European bank. And then [in comes (?)] this mechanism that I explained. So that is what has happened, and many people, as I said, think this should be reversed.

And so we, in our movement, but also many other movements, are calling for something similar to what has happened in Ecuador with President Correa, which is they also were under the debt that actually precluded the evolution or the growth of the country, because such a great percentage of their total gain were needed to pay the interests of the debt, right? That’s a perverse mechanism. Actually, I think in truth we can call that a slavery mechanism. And that is what we now have agreed to, right, as a country.

Chart of the day: Color lines of student debt


From Gallup:

BLOG Student debt

John Oliver tackles $1 trillion student loan debt


Yep, it now tops everything except mortgage debt, and lenders have more coercive power to collect it than do lenders of any other form of debt, while the parallel growth of for-profit colleges [like those owned by UC Regent Richard "Greasy Thumb" Blum, spouse of Sen. Dianne Feinstein] have fuekled the rapid growth of student loans. Blum also presided over the board of regents during the massive inflation in tuition that forced increasingly numbers of students to resort to borrowing to attend the University of California.

From Last Week Tonight with John Oliver:

Last Week Tonight with John Oliver: Student Debt

Program note:

John Oliver discusses student debt, which is awful, as well as for-profit colleges, who are awfully good at inflicting debt upon us.

Chart of the day II: Credit cards debt plunges


From the massive collection of charts [PDF] in the 2013 Survey of Consumer Finances released today by the Federal Reserve Board of Governors:

BLOG Cards

Bankster greed fueled Ferguson violence


Finally someone connects two critical dots, the violence in Ferguson, Missouri, and the crimes of American banksters and bubble collapse foreclosures.

Pay close attention to this conversation from RT’s The Keiser Report featuring Max Keiser and award-winning investigative journalist Matt Taibbi and you’ll see the extremely close correlations between banking deregulating and oppressive policing on the streets of America’s poorest neighborhoods.

From RT:

American gangsters! Matt Taibbi & Max on suckers buying bogus & big bank mass perjury

Program notes:

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss how some looters are more equal than others as Jamie Dimon gets to keep his mortgage fraud deal with the Department of Justice secret while others get gunned down in broad daylight for lifting a cigarette. In the second half, Max interviews journalist and author, Matt Taibbi about the injustice that follows the wealth divide and how Ferguson, Missouri plays into that.