Category Archives: Development

EnviroWatch: Ebola, global woes, toxins, nukes


Another hefty compendium of alarms and alerts about the increasingly destruction relationship betwixt people and planet, starting with that most urgent of events, the continuing Ebola catastrophe in Africa.

International Business Times covers one deadly consequence:

Ebola Outbreak: Liberian Army Ordered to ‘Shoot on Sight’ Anyone Crossing Sierra Leone Border

Liberia’s armed forces have been given orders to shoot people on sight who are attempting to illegally cross the border from Ebola-stricken Sierra Leone, according to local media reports.

The order was given to soldiers stationed in Bomi and Grand Cape Mount counties on the border with Sierra Leone in hope of preventing the spread of the deadly virus, deputy chief of staff, Colonel Eric Dennis said.

Liberia has the highest death toll from the disease with approximately 400 citizens killed. So far, more than 1,200 people have died from the disease, which has been described as the worst ever outbreak of the virus.

And an earlier omnibus report from Deutsche Welle:

African governments take isolation measures

  • African governments are sealing their ports and airports in an attempt to halt the spread of Ebola. But will fever checks and entry bans really make any difference?

With more than 1,100 dead and 2,100 suspected cases of Ebola, authorities in many African countries are holding their breath. Many are nervous, and some have begun to isolate themselves.

From Tuesday onwards, Kenya Airways has suspended flights to Liberia and Sierra Leone. Ivory Coast is no longer allowing ships from Ebola-hit countries to pass through its waters. In Nigeria, no one is allowed to board a plane unless their temperature is normal and they have passed the airport’s “fever check.”

“I think the restriction of air traffic is an expression of the helplessness of the authorities there when it comes to containing the disease,” said Dieter Häussinger, director of the Hirsch Institute of Tropical Medicine. He thinks that monitoring people’s temperature is a questionable method, because it’s impossible to separate those infected with Ebola from people who’ve got the flu.

United Press International ups the aid ante:

Food distribution to Ebola quarantine sites scaled up as death toll hits 1,200

  • The World Health Organization and the U.N.’s World Food Program have teamed up to provide needed food to quarantine sites in Ebola-affected countries in West Africa. “Providing regular food supplies is a potent means of limiting unnecessary movement,” WHO noted.

The World Health Organization issued an update Tuesday regarding the deadly outbreak of Ebola in West Africa.

As of August 16, WHO recorded 2,240 cases of confirmed, probable and suspected cases of Ebola in Guinea, Liberia, Nigeria and Sierra Leone, including 1,229 deaths.

The distribution and classification of the cases are as follows:

  • Guinea, 543 cases (396 confirmed, 140 probable, and 7 suspected), including 394 deaths;
  • Liberia, 834 cases (200 confirmed, 444 probable, and 190 suspected), including 466 deaths;
  • Nigeria, 15 cases (12 confirmed, 0 probable, and 3 suspected), including 4 deaths;
  • Sierra Leone, 848 cases (775 confirmed, 34 probable, and 39 suspected), including 365 deaths.

From the Associated Press, a hopeful sign in a disease that kills 90 percent of its victims:

Liberia: 3 receiving untested Ebola drug improving

Three Liberian health workers receiving an experimental drug for Ebola are showing signs of recovery, officials said Tuesday, though medical experts caution it is not certain if the drug is effective.

The World Health Organization said that the death toll for West Africa’s Ebola outbreak has climbed past 1,200 but that there are tentative signs that progress is being made in containing the disease.

The three Liberians are being treated with the last known doses of ZMapp, a drug that had earlier been given to two infected Americans and a Spaniard. The Americans are also improving, but the Spaniard died.

CBC News makes a critical note about a continent where Africans have all been treated as Big Pharma lab rats:

Ebola outbreak: Africans understandably wary about promised cures

  • Past drug trials likely affecting public suspicion in West Africa today

New concerns that the Ebola outbreak in West Africa is much worse than reported are adding to the global pressure to find a solution – even if that means testing unproven drugs on desperate Africans. But medical ethicists and others in the drug-testing business say the focus on miracle cures for Ebola is misplaced.

And, in any event, Western nations owe Africans a huge debt of gratitude for even considering being the ones to try these experimental medications.

Untested drugs and vaccines are now in the spotlight after reports that three Westerners received the experimental Canadian drug ZMapp, and about the Canadian government announcing it would donate up to 1,000 doses of a potential Ebola vaccine that is in the development stage.

The Japan Times rounds up:

Liberia says all 17 runaway Ebola patients have been located

Liberia has found all 17 suspected Ebola patients who fled a quarantine center in Monrovia at the weekend and transferred them to another clinic, the information minister said on Tuesday.

“We are glad to confirm that all of the 17 individuals have been accounted for and have now been transferred to JFK Ebola specialist treatment center,” said Lewis Brown.

He also said that three infected African doctors who had received the experimental Ebola drug Zmapp were showing “remarkable signs of improvement,” quoting an assessment by the doctor overseeing their treatment.

TheLocal.fr raises aerial objections:

Air France staff object to flying to Ebola countries

Air France cabin crew are so concerned about the threat of the Ebola epidemic that unions have started a petition calling for flights to be stopped to those West African countries most affected by the disease.

A union representing Air France staff has launched a petition to try to persuade company chiefs to stop flying to Guinea and Sierra Leone until the Ebola crisis is under control.

The two countries are heavily affected by the epidemic, that has killed over 1,200 people, and staff fear their lives are in danger each time they touch down in those countries.

Latin American Herald Tribune makes ready across the Atlantic:

Mexico City Airport Prepares to Deal with Ebola

The Mexico City International Airport is ready to deal with any possible cases of Ebola, a viral disease that is spreading through West Africa, aviation officials said.

Posters informing travelers about the disease and the measures to take to avoid spreading it are being put up around the airport.

The airport “is fully complying with the regulations established by the World Health Organization (WHO) and the International Civil Aviation Organization (ICAO) regarding the outbreak affecting Guinea, Liberia, Sierra Leone and Nigeria, countries where people have been infected with the virus,” airport management said in a statement.

And from the Los Angeles Times, a photojournalist covers the crisis:

Ebola crisis: Photographer John Moore chronicles the outbreak in Liberia

Program notes:

Getty Images photographer John Moore travels to Liberia to cover the burgeoning Ebola outbreak in the West African country, and he describes the scene and precautions he and health workers have taken.

From TheLocal.de, a false alarm:

Stomach bug behind Berlin ‘Ebola’ scare

Around 600 people were held for several hours in emergency quarantine at a Berlin Job Centre on Tuesday after a West African woman collapsed with Ebola-like symptoms.

The emergency services cordoned off the premises in the city’s northeastern Prenzlauer Berg district after the 30-year-old collapsed. The woman then told medics she had had contact with victims of the deadly disease in her homeland.

She was immediately taken for hospital testing along with several other people who had been with her in the building.

However, doctors said that Ebola was unlikely and that the woman was probably suffering from an acute stomach bug.

TheLocal.at covers another false alarm:

All-clear given on suspected Ebola cases

Austria’s health ministry gave the all-clear Tuesday evening after regional authorities earlier reported two suspected cases of Ebola in two men recently returned from Nigeria.

“The test results in both cases were negative,” the health ministry said.

The news came hours after the governor of Upper Austria province, Josef Pühringer, said two men who returned last Wednesday from Lagos had been hospitalised on suspicion of carrying the deadly disease.

Blood samples were sent to a laboratory in Germany, which announced late Tuesday that the results were negative, Pühringer later said.

On to another environmental front with Newswise:

World’s Primary Forests on the Brink

An international team of conservationist scientists and practitioners has published new research showing the precarious state of the world’s primary forests.

The global analysis and map are featured in a paper appearing in the esteemed journal Conservation Letters and reveals that only five percent of the world’s pre-agricultural primary forest cover is now found in protected areas.

Led by Professor Brendan Mackey, Director of the Climate Change Response Program at Griffith University in Queensland, Australia, the authors are experts in forest ecology, conservation biology, international policy and practical forest conservation issues.

Representing organisations such as the US-based Wildlife Conservation Society, the Zoological Society of London, the Geos Institute and Australian National University, they conclude that primary forest protection is the joint responsibility of developed as well as developing countries and is a matter of global concern.

Primary forests – largely ignored by policy makers and under increasing land use threats – are forests where there are no visible indications of human activities, especially industrial-scale land use, and ecological processes have not been significantly disrupted.

From the Guardian, another global alarm:

Earth sliding into ‘ecological debt’ earlier and earlier, campaigners warn

  • World has already exhausted a year’s supply of natural resources in less than eight months, Global Footprint Network says

Humans have used up the natural resources the world can supply in a year in less than eight months, campaigners have warned.

The world has now reached “Earth overshoot day”, the point in the year when humans have exhausted supplies such as land, trees and fish and outstripped the planet’s annual capacity to absorb waste products including carbon dioxide.

The problem is worsening, with the planet sliding into “ecological debt” earlier and earlier, so that the day on which the world has used up all the natural resources available for the year has shifted from early October in 2000 to August 19 in 2014.

Al Jazeera America covers a consequence of perverted appetites:

Ivory poachers killing elephants faster than they are being born

  • Study says tipping point reached as poachers kill 7 percent of African elephants annually; birth rate is 5 percent

African elephants are being pushed over the tipping point, a new study said, with more being killed by poachers for their ivory than are born each year.

“We are shredding the fabric of elephant society and exterminating populations across the continent,” said the study’s lead author, George Wittemye of Colorado State University. The peer-reviewed report was published this week in the Proceedings of the National Academy of Sciences.

Poaching has killed 7 percent of the continent’s elephant population annually from 2010-2013, but their birth rate is just 5 percent, according to the report. At those rates the animals could be wiped out within 100 years, and conservationists are worried.

After jump, tainted food, metallic toxins, catastrophic mine leaks, fracking protests, the latest chapter of Fukushimapocalypse Now!, and one for the birds. . . Continue reading

EconoEnviroWatch: Drought, fires, poisons


For today’s second headline collection, we offer news of the environment, as well as some relevant economic and political stories.

We begin with an alarm from Circle of Blue:

Colorado River’s Course Through A Drying Landscape Is Draining Lake Mead

  • Along the 1,800-mile river basin, locals wrestle with water demands.

The effects of lingering drought, and the unrelenting demand for water from farmers, cities, and energy producers converged today at Lake Mead, which drained to its lowest level since 1937 when the Hoover Dam closed off the Colorado River to begin filling the largest reservoir in the United States.

In dropping to a record-low water level the huge lake, which straddles the border between southern Nevada and northwestern Arizona, has emerged as an important measure of water insecurity in the American West. Just as gasoline prices serve as a national gauge of American economic stress — relieving psychic pressure as prices go down, causing strain as they rise — Lake Mead’s steadily declining water levels are a visible and widely reported gauge of intensifying water scarcity in the fastest growing region of the United States.

Lake Mead sits near the end of the Colorado River, which stretches 2,900 kilometers (1,800 miles) across seven U.S. states before entering Mexico. Its course is through one of the earth’s grandest landscapes. Lake Mead reflects the mammoth scale of the geography and its drying condition.

The California angle from Weather West:

An overview of California’s ongoing and extraordinary drought: a tale of exceptional dryness and record warmth

Droughts historically have a way of sneaking up on California, and the extraordinary 2012-2014 drought has been no exception.

Year-to-year and even season-to-season rainfall variability is quite high in this part of the world, which means that it’s nearly impossible to know whether a single dry year (or season) portends the beginning of a much more prolonged or intense dry period. Indeed–the 2012-2013 rainy season had an extremely wet start–so wet, in fact, that an additional large storm during December 2012 would likely have led to serious and widespread flooding throughout Northern California. But no additional significant storms did occur during December 2012–nor during January 2013…nor February, March, April, or May. In fact, January-June 2013 was the driest start to the calendar year  on record for the state of California in at least 118 years of record keeping. Some parts of the state saw virtually no precipitation at all during this period, which made for an especially stark contrast with the extremely wet conditions experienced just a few months earlier.

How did this drastic change occur so quickly? The second half of the 2012-2013 Water Year saw the development of the now infamous Ridiculously Resilient Ridge (or RRR)–an extraordinarily persistent region of high pressure over the northeastern Pacific Ocean in the middle atmosphere that forced the mid-latitude storm track well to the north of its typical position and prevented winter storms from reaching California.

And just how dry is the Golden State? Consider this from the United States Drought Monitor, showing that all of California is in a state of Severe Drought, and a phenomenal 36.49 percent is in the most extreme state of Exceptional Drought:

BLOG CalDrought

Next up, fracking the drought with Pacific Standard:

California’s Lax Policing of the Fracking Industry Has Put the Drought-Stricken State in a Terrible Situation

  • The state’s drought has forced farmers to rely on groundwater, even as aquifers have been intentionally polluted due to exemptions for the oil industry.

California officials have ordered an emergency shut-down of 11 oil and gas waste injection sites and a review of more than 100 others in the state’s drought-wracked Central Valley out of fear that companies may have been pumping fracking fluids and other toxic waste into drinking water aquifers there.

The state’s Division of Oil and Gas and Geothermal Resources on July 7 issued cease and desist orders to seven energy companies warning that they may be injecting their waste into aquifers that could be a source of drinking water, and stating that their waste disposal “poses danger to life, health, property, and natural resources.” The orders were first reported by the Bakersfield Californian, and the state has confirmed with ProPublica that its investigation is expanding to look at additional wells.

From South of the Border, the opposite course via Frontera NorteSur:

Mexican Fracking Foes Lose a Big Round

Mexican opponents of the controversial method of extracting natural gas known as fracking lost an important battle in the Mexican Senate late last week. As part of a 91-26 vote that approved secondary legislation implementing the Pena Nieto administration’s energy reform, most senators rejected a measure that would have prohibited fracking.

Prior to the July 18 vote, the Mexican Alliance against Fracking, a grouping of environmental organizations, presented senators with a petition signed by more than 10,000 people that supported a fracking ban.
Nonetheless, a majority of senators from President Pena Nieto’s PRI party joined with lawmakers from the PAN and PVEM (Mexican Green) parties to reject an outright prohibition of fracking. Voting in favor of a ban were members of the PRD and PT parties.

Senator Pablo Escudero, PVEM representative, maintained that environmental studies in the United States, as well as the history of fracking in Texas, Louisiana, New Mexico and other states, showed that fracking could be done in a safe manner. To back up his case, Escudero referred to studies by University of California physicist Dr. Richard Muller, whose pro-environment arguments in favor of fracking have engendered sharp polemics.

When drought meets austerity, via the Christian Science Monitor:

Western wildfires burn through firefighting budgets

The cost of fighting wildfires has eaten into agency budgets meant for forest management and fire preparedness. Proposed federal legislation would treat such fires as natural disasters like earthquakes and hurricanes.

As 26 major wildfires currently rage across the American West – 18 of them in Oregon and Washington – they’re rapidly burning through firefighting budgets as well.

As a result, experts warn, firefighting agencies such as the US Forest Service and the US Department of the Interior have to raid other fire-related programs – forest management and fire preparedness, for example – to battle the blazes.

The reasons for this are multiple and complicated: Years of fire suppression instead of letting fires burn naturally allowed fuel levels to grow dangerously; climate change has brought on changes in weather patterns; and housing and other development pushed into what’s known as the “wildland-urban interface” – some 60 percent of all new homes built since 1990, according to environmental economist Ray Rasker.

From EurActiv, the environment gets cowed:

Scientists find beef production harmful to the environment

Production of beef is nearly ten times more damaging to the environment than any other form of meat production, according to a new study published in the Proceedings of the National Academy of Sciences.

American scientists measured the environment inputs required for beef production and concluded that beef cattle need 28 times more land and 11 times more irrigation water than pork, poultry, eggs or dairy.

The researchers developed a uniform methodology that they were able to apply to all five livestock categories and to four measures of environmental performance.

On to Japan for the latest episode of Fukushimapocalypse Now!, first with the Japan Daily Press:

Testimony of Fukushima plant manager reveals safety inspectors were first to flee during disaster

Masao Yoshida – the former plant manager of the Fukushima nuclear power plant during the time when it was hit by the Great East Japan Earthquake and tsunami in March 2011 – died of cancer last year, but his recorded testimony revealed a flaw in the disaster management process that probably caused the chaos around the way Tokyo Electric Power Co. (TEPCO) dealt with the disaster at that time. According to Yoshida’s testimony, the safety inspectors were among the first to flee the site at the time of the disaster.

The safety inspectors were under the Nuclear Industrial Safety Agency (NISA), the predecessor of the Nuclear Regulation Authority (NRA), and they were supposed to remain on site to be able to give a factual and solid assessment of what needed to be done to deal with the accident and the multiple reactor meltdowns. As such, with the lack of safety inspectors onsite, the Japanese government was forced to rely on sometimes erroneous and mostly chaotic information from TEPCO.

Then-Prime Minister Naoto Kan had gone to TEPCO’s Tokyo office, ultimately leading to the decision that a base of communications for the disaster was set up by TEPCO and the Japanese government in Tokyo, 230 kilometers away from where the disaster was taking place. That in itself was a hindrance to the proper flow of information and the correct assessment of the disaster.

NHK WORLD runs the numbers:

One trillion Bq released by nuclear debris removal

The operator of the damaged Fukushima Daiichi nuclear plant says more than one trillion becquerels of radioactive substances were released as a result of debris removal work at one of the plant’s reactors.

Radioactive cesium was detected at levels exceeding the government limit in rice harvested last year in Minami Soma, some 20 kilometers from Fukushima Daiichi.

There are fears that some rice paddies in the city have been tainted by airborne radioactive material released when debris was removed from the plant’s No.3 reactor in August last year.

On Wednesday, Tokyo Electric Power Company presented the Nuclear Regulation Authority with an estimate that the removal work discharged 280 billion becquerels per hour of radioactive substances, or a total of 1.1 trillion becquerels.

Poisoning primates, via the Guardian:

Japanese monkeys’ abnormal blood linked to Fukushima disaster – study

  • Primates in Fukushima region found to have low white and red blood cell levels and radioactive caesium

Wild monkeys in the Fukushima region of Japan have blood abnormalities linked to the radioactive fall-out from the 2011 nuclear power plant disaster, according to a new scientific study that may help increase the understanding of radiation on human health.

The Japanese macaques (Macaca fuscata) were found to have low white and red blood cell levels and low haemoglobin, which the researchers say could make them more prone to infectious diseases.

But critics of the study say the link between the abnormal blood tests and the radiation exposure of the monkeys remains unproven and that the radiation doses may have been too small to cause the effect.

The scientists compared 61 monkeys living 70km (44 miles) from the the Fukushima Daiichi nuclear power plant with 31 monkeys from the Shimokita Penisula, over 400km (249 miles) from Fukushima. The Fukushima monkeys had low blood counts and radioactive caesium in their bodies, related to caesium levels in the soils where they lived. No caesium was detected in the Shimokita troop.

From the Japan Daily Press, pressing feet to the [nuclear] fire:

TEPCO shareholders seeking disclosure of nuclear accident interview records

It seems that three years after the nuclear disaster that crippled Tokyo Electric Power Co.’s Fukushima Daiichi plant, the operator’s problems are far from over. While the problem of decontamination is ongoing, albeit slowly, the next battle is set to come as shareholders in the firm are looking at filing lawsuits to determine the real cause of the incident.

The shareholders are planning to request from the Cabinet Secretariat copies of the interviews conducted, which many already assume would be denied. Such denial would force the shareholders to no other recourse but to file legal action against the government so it would release interview records of 772 people for their own analysis. Not only that, they also plan to file a separate legal action against TEPCO to see if executives and managers of the company played a hand in the disaster and the problems resulting from the meltdown.

Next up, more disastrous blowback at the disastrous intersection of Big Pharma, politics, and those who pay the real price. From Süddeutsche Zeitung:

Doctors Blame Factory Farming For Failing Antibiotics

Citing the failure of antibiotics to work effectively in their patients, a group of German doctors and other healthcare providers are laying blame on the factory farming industry — and calling for reform.

The doctors say that antibiotics no longer work because of multi-resistant germs that patients carry, at least some of which have their origins in the way animals are bred. Germs from agro-industrial facilities that are resistant to antibiotics are a massive threat to human health, the campaign founders say.

The first nationwide campaign of this type is so far being supported by 250 doctors, carers and pharmacists. They are demanding humane breeding of animals, sharper controls, and sanctions against those who put antibiotics in animal feed.

If action is not taken, antibiotics may soon be entirely ineffective as a weapon against bacterial infections in both humans and animals, warns professor of veterinary medicine Siegfried Ueberschär. Doctors now often try in vain to save the lives and health of patients with weak immune systems, and there are no new antibiotics in sight, says Bremen-based internist Imke Lührs.

And for our final item, a very import reminder of the profound consequences of cultural differences, not patentable by Big Pharma. From the London Daily Mail:

How schizophrenia is shaped by our culture: Americans hear voices as threatening while Indians and Africans claim they are helpful

  • Scientists came to the conclusion after speaking with 60 schizophrenics
  • 20 came from California, 20 from Accra, Ghana and 20 from Chennai, India
  • In America, voices were intrusion and a threat to patient’s private world
  • In India and Africa, the study subjects were not as troubled by the voices
  • The difference may be down to the fact that Europeans and Americans tend to see themselves as individuals motivated by a sense of self identity
  • Whereas outside the West, people imagine the mind and self as interwoven with others and defined through relationships

Is The South China Sea On The Brink Of War?


A documentary from ABC Australia on the increasing tension in the oil-rich region of the Pacific where a host of nations are struggling to control potentially vast undersea petroleum and gas reserves — the struggle we’ve dubbed the Game of Zones.

Shot from a Philippine perspective and reported by Eric Campbell, the documentary gives the viewer an excellent first-hand view of the daily jockeying for possession consuming the politicians and military of a half-dozen Asian nations, hungry for the potential riches below.

Via Journeyman Pictures:

Is The South China Sea On The Brink Of War?

Program notes:

The Spratly Islands are an unremarkable scattering of reefs and sandbars in the South China Sea. But, rich in resources and claimed by six countries, could they be the trigger for the world’s next major conflict?

“We call our Kalayaan Island group the submerged Saudi Arabia of the Philippines.” Eugenio Bito-Onon is mayor of a seemingly innocuous islet municipality, home to just 150 residents.

But with the region crosshatched by important shipping lanes, the undersea bed replete with oil and gas, and the marine life furnishing vast fishing grounds, the surrounding waters are simmering with tension. China, the Philippines,

Vietnam, Malaysia, Taiwan and Brunei all lay claim to a portion of the territory, in a little-known diplomatic contest that for decades has regularly brought the area to the brink of war, and put it firmly off-limits to Western media.

“China is doing a lot of things besides bullying our fishermen and small navies,” explains the mayor as he points out a Chinese development on a small atoll known as ‘Mischief Reef’. Here, the only way to secure the land is to occupy it. So as competing claimants continue to build, could this high-stakes game of island Monopoly erupt into a fully fledged conflict?

Headlines: Beaucoup elections, and lots more


Whole lotta ground to cover, with elections — and their aftermaths — on three continents, plus the latest economic and ecological headlines and the latest edition of Fukushimapocalypse Now!

On with the show, starting with a trans-Pacific partnership of another sort from China Daily:

Children from China enroll in US summer academic camps

Summer is near, and that means that many Chinese parents will be sending their children to summer camps in the US for an academic performance boost.

Michelle Raz, the director of the Longfeifei Youth Summer Academy in Steamboat Springs, Colorado, said that Chinese parents are keen on “rounding out their kids’ experiences”, so they are enrolling them in programs like Longfeifei’s, which has an academic portion but also gives children time to learn about the arts and to participate in athletic activities.

“What the children have told me is that schools in China been very limited in sports and arts, where they are coming from,” Raz told China Daily. “Few of them have some experiences but the vast majority haven’t, so we’re teaching them American games and things like soccer.”

And more standardized testing from Washington, this time with ivy coverings, via the New York Times:

Colleges Rattled as Obama Seeks Rating System

The college presidents were appalled. Not only had President Obama called for a government rating system for their schools, but now one of his top education officials was actually suggesting it would be as easy as evaluating a kitchen appliance.

“It’s like rating a blender,” Jamienne Studley, a deputy under secretary at the Education Department, said to the college presidents after a meeting in the department’s Washington headquarters in November, according to several who were present. “This is not so hard to get your mind around.”

The rating system is in fact a radical new effort by the federal government to hold America’s 7,000 colleges and universities accountable by injecting the executive branch into the business of helping prospective students weigh collegiate pros and cons. For years that task has been dominated by private companies like Barron’s and U.S. News & World Report.

Next up, more neoliberalism north of the border with the Toronto Globe and Mail:

Ottawa approved thousands of foreign worker requests at minimum wage, data reveal

The federal government approved thousands of requests to bring in temporary foreign workers at minimum wage in recent years, a practice that undermines claims from government and employers that there are serious labour shortages and that all efforts have been taken to hire Canadians.

The revelations in newly released data come as the Conservative government is weighing major policy reforms – including a new “wage floor” – in response to criticism that employers are relying on the temporary foreign worker program as a way to avoid raising wages.

Using Access to Information legislation, the Alberta Federation of Labour obtained extensive statistics about the program and provided its findings to The Globe and Mail. The union sought and obtained information on the number of Labour Market Opinions approved by Employment and Social Development Canada that were for minimum wage jobs. An LMO is a screening process meant to ensure employers have exhausted efforts to hire Canadians before turning to the program.

On to Europe, first with a hint of things to come from the Portugal News:

‘Risk of deflation’ – ECB president

The president of the European Central Bank (ECB) said on Monday that inflation was going to stay low for a prolonged period of time and that “there is a risk” of deflation, adding there was “no question” the objective of the institution was to control price changes.

“At the moment, our expectation is that the low inflation is going to remain with us, but that it will gradually return to the 2% level. However, our responsibility is to be aware of any risks that might arise and be prepared to act is necessary”, Mario Draghi said.

The ECB president was giving a speech opening Monday’s works at the ‘ECB Forum on Central Banking’, organised by the ECB in Sintra and which began on Sunday and is to continue until Tuesday.

And our first electoral story, via EUbusiness:

Europe’s leaders urge EU reform after eurosceptic poll wins

France’s President Francois Hollande Monday called for reining in Brussels’ power after eurosceptic and far-right parties scored stunning success in EU polls, sending shock waves through the continent’s political landscape.

“Earthquake” in Europe, read the headlines after European parliamentary elections ended Sunday, summing up a day of trauma for establishment parties and the accepted consensus that the European Union offers the best future for all.

Hollande went on national television to call for the EU to reduce its role which he said had become for many citizens “remote and incomprehensible”.

More from United Press International:

European Parliament election results illustrate growing dismay with economic austerity measures

The European parliamentary election results are in. While pro-EU parties are expected to retain the majority of the 751 seats in the new legislature, so-called Euroskeptic parties who oppose the EU made significant gains.

According to European politics expert Simon Usherwood, who spoke to CNN about the election results, “They don’t have enough votes to stop legislation going through but what they will get particularly on the far right, is the time for speaking in debates, the chairmanship of certain committees, which means that they’re going to have much more of a platform on which they can sell their message to voters.”

And ominous new additions from EUbusiness:

European Parliament set to usher in first neo-Nazis

Though no stranger to controversy or diatribe, the European Parliament is set to usher in its first fully-fledged neo-Nazis members, from Germany and Greece.

With around 300,000 votes at Sunday’s European elections the neo-Nazi National Democratic Party of Germany (NPD) is expected to claim one of the country’s 96 seats in the new Parliament, in a historical ground-breaker.

A recent change in German electoral laws, scrapping all minimum thresholds, paved the way for the march into parliament of the NPD, which has 6,000 members. It describes itself as “national socialist,” just like Germany’s Nazis in the 1930s, and is openly xenophobic and anti-semitic so a group of German regional governments have tried to have it banned for propagating racism.

EurActiv looks on the bright side:

Europe on course for ‘grand coalition’ after election

Despite a rise in anti-European parties, political balances remained broadly unchanged in the European Parliament following the elections yesterday, with the centre-right and centre-left parties on track for a grand coalition.

The centre-right European People’s Party (EPP) won 212 seats in the European parliament, followed by the Socialists and Democrats (S&D), with 186 seats (out of 751). In the last European election, the EPP won 265 seats and the S&D 184. The Parliament was slightly larger at the time, counting a total of 766 seats.

This is the fourth consecutive victory for the EPP since the 1999 election and another disappointment for the Socialists, who failed to reverse the balance of power in Parliament, despite the popular resentment over austerity.

A different take from EUobserver:

New EP will struggle to find majorities

It will take days if not weeks for the political dust to settle after the EU vote but it is already clear that the new European Parliament will need to work harder to find majorities with discussions on issues such as migration and free trade deals set to become more polarised.

While the centre-right EPP gained the most seats in the EU vote, it lost around sixty seats compared to 2009, while the centre-left S&D came second, but did less well than expected. Together the two parties hold a majority (403) in the 751-strong EP, under current group projections, but it is a slim majority (54%).

“That means that in areas where only the S&D and the EPP agree, that will not be enough, they will have to get votes from some other places,” said VoteWatch’s Doru Frantescu at a post-election analysis on Monday (26 May).

On to Britain, and exuberance from an EU foe from Sky News:

Nigel Farage: ‘My Dream Has Become Reality’

  • UKIP’s leader likens the main parties to goldfish out of water “desperately gasping for air”, after his Euro election victory.

UKIP leader Nigel Farage has said his “dream” of “causing an earthquake in British politics” has come true.

Mr Farage was speaking at a press conference after UKIP’s first win in a national election – the first time in more than 100 years a party other than Labour or the Conservatives has finished top.

He described the “legacy parties” as “like goldfish that have just been tipped out of the bowl onto the floor, desperately gasping for air and clinging on to the comfort blanket that this is a protest vote”.

The Guardian hears from Boris the Bloviator, the neocon’s friend:

Boris Johnson: Eurosceptic success due to ‘peasants’ revolt’

  • London mayor says European election results are expression of revulsion and a signal for the EU to change or die

Boris Johnson has described Ukip voters as peasants in revolt after Eurosceptic parties swept to victory across the union.

The London mayor painted a scene of “pitchfork-wielding populists” converging on Brussels “drunk on local hooch and chanting nationalist slogans and preparing to give the federalist machinery a good old kicking with their authentically folkloric clogs”.

Writing in the Telegraph, he compared Eurosceptic parties, including Ukip, Dutch rightwing firebrands and Greek anti-capitalists, to people taking part in “a kind of peasants’ revolt” or a “jacquerie” – a bloody uprising against the French nobility in 1358.

From the Independent, a loser struggles:

European elections 2014: Nick Clegg faces fight for survival after Lib Dems’ Euro disaster

Local Liberal Democrat party activists begin calling emergency meetings to force leadership contest as triumphant Nigel Farage predicts Ukip will hold balance of power at next year’s general election

Nick Clegg failed to quell a grassroots revolt by Liberal Democrat activists on Monday night as they stepped up an attempt to oust him following the party’s disastrous performance in the European elections.

After the Deputy Prime Minister refused to fall on his sword, The Independent learnt that activists had begun to call emergency meetings of local parties across the country in order to force a leadership election. They require the backing of 75 parties to trigger a contest.

Ditto from Sky News:

EU Must Reform For Jobs And Growth – Cameron

  • The Prime Minister tells fellow EU leaders they must reform the 28-nation bloc in the wake of successes for eurosceptic parties.

David Cameron has called fellow European leaders and urged them to “seize the opportunity” for reform on jobs and growth following the European Elections.

In a series of phone calls the Prime Minister urged them to “heed the views expressed at the ballot box” over recent days.

His intervention came ahead of today’s Informal European Council dinner in Brussels, where leaders are expected to discuss the results of the European poll.

Meanwhile, the austerians can proclaim another kind of victory, via the Independent:

‘If the NHS were an airline planes would fall out of the sky all the time’ says Mid Staffs inquiry chairman

Standards across the NHS have become so poor that if the health service were an airline “planes would fall out of the sky all the time”, the chairman of the inquiry into the Mid Staffordshire NHS scandal has warned.

Robert Francis QC said the public had been given a falsely positive impression about the quality of care being provided in many of the country’s hospitals.

Mr Francis told The Telegraph: “If we ran our airlines industry on the same basis, planes would be falling out of the sky all the time. We’ve got to change the attitude that because it’s provided by the state, it’s all right for a number of people to be treated badly; well it’s not. Airlines would go out of business very quickly if they worked that way.”

Ireland next, and a win for the left from Bloomberg:

Sinn Fein Surges in Ireland as Voters Punish Austerity

Sinn Fein, the former political wing of the Irish Republican Army, became the biggest party in Dublin city as voters punished the ruling coalition for three years of austerity amid a rise in protest votes across Europe.

The party has more members of Dublin City Council than any other after municipal elections on Friday and topped the Irish capital’s poll for a European Parliament seat. Support for Sinn Fein and other anti-austerity groups swelled across Ireland as they grabbed seats from government parties.

“It’s a profound change in the political landscape,” Sinn Fein leader Gerry Adams said in an interview posted on the Irish Independent’s website, adding the party is at its strongest in almost a century. “The government will think it can dismiss this as a bit of a scolding by the electorate, but it’s bigger and deeper than that.”

One response from Independent.ie:

Eamon Gilmore resigns as leader of Labour Party

EAMON Gilmore has warned against the Labour pulling out of government following his dramatic decision to resign as party leader.

Mr Gilmore said he “agonised” over the decision to step down which was made just hours before eight members of the Labour Parliamentary party tabled a vote of no confidence.

A new Labour leader will be put in place on July 4 following a postal ballot of all party members.

On to Iceland, and an odd election issue from the Reykjavík Grapevine:

Mayoral Candidates Speak Out On Mosque Issue

In the wake of recent remarks from a mayoral candidate that she would revoke a plot of land the city of Reykjavík granted for building a mosque, numerous mayoral candidates have expressed their disagreement with this sentiment.

Vísir spoke with other candidates running for mayor, to get their reactions to recent remarks made by Progressive Party mayoral candidate Sveinbjörg Birna Sveinbjörnsdóttir, who said last week that if elected mayor, she would reverse a city council decision made in January 2013 to grant Iceland’s Muslim population a plot of land on which to build a mosque.

“This is a desperate way to get votes during the last days before elections,” said Social Democrat mayoral candidate Dagur B. Eggertsson. “You don’t run a city by discriminating against people based on their religious beliefs.”

Sweden next, and harumphing from TheLocal.se:

‘Nationalists threaten EU openness’: Malmström

Sweden has in total fewer seats in Strasbourg than the French National Front does, and the upswing of nationalist parties worries Sweden’s European Commissioner Cecilia Malmström.

“They’re scary,” Malmström said about the rise of nationalist, extreme-right, and xenophobic parties in the European parliament elections over the weekend.

“What worries me is that their rhetoric has infected other parties.That means it could be difficult henceforth to make decisions on everything from labour migration, taking more responsibility for refugees… it won’t be easier after this.”

On to Norway, and a deal nearly done from TheLocal.no:

Rosneft to buy stake in Norway drill company

Russian state oil giant Rosneft could buy a major stake North Atlantic Drilling, a subsidiary of Norway’s Seadrill, in a deal which would give the company access to the lucrative Russian drilling market.

Norwegian shipping tycoon John Fredriksen announced the deal, which will see Rosneft book “a significant portion” of the company’s idle rigs, at the St. Petersburg Economic Forum on Saturday.

“We have sought to access the growth opportunity represented by the Russian market for several years,” NADL chief executive Alf Ragnar Lovdal, said in a statement.  “After the closing of this transaction, will have created a powerful force in the Russian market and for the Arctic region.”

On to Copenhagen and more right wing triumphs via EurActiv:

Danish far right party wins in EU elections, doubles mandate

The far-right Eurosceptic Danish People’s Party has won 26.7% of the votes and becoming by far the biggest Danish party in the Parliament with four seats. The party has doubled its mandates since 2009.

Meanwhile, the two biggest parties in the Danish parliament, the Social Democrats (at 19.1%) and the Liberals (16.7%) both had poor showings, each losing a seat, leaving them at three and two seats, respectively. The Greens lost one seat, while the Conservatives, the Social Liberals and a left-wing Eurosceptic party together make up Denmark’s 13 mandates.

The Danish People’s Party has looked to Britain’s UKIP for inspiration, calling for less EU influence over Danish matters, an end to ‘benefits tourism’ and tougher border controls. After Sunday, UKIP, the Danish People’s Party and France’s National Front are the three most successful eurosceptic parties in this Parliament election. But the three parties are unlikely to work together in the same group, as the Danish People’s Party has decided to seek influence via the European Conservatives and Reformists’ group of Tory MEPs.

Germany next, with a qualified win for the Iron Chancellor via TheLocal.de:

Merkel’s party tops vote but loses ground

Chancellor Angela Merkel’s conservatives came out ahead in European Parliament elections, official results showed on Monday, but a neo-Nazi party also won a seat in Brussels, echoing far-right gains elsewhere.

Merkel’s Christian Democrats (CDU) and their Bavarian sister party the CSU – a team that last September celebrated a landslide win at the national level – between them secured 35.3 percent of votes cast.

The neo-Nazi National Democratic Party of Germany (NPD), won 300,000 votes, one percent of the total, and so wins its first seat in the 751-member European parliament.

Another winner from EUbusiness:

German’s anti-euro professor Bernd Lucke scores in EU polls

Bernd Lucke, an economics professor with boyish looks, seems an unlikely revolutionary, but in little over a year he has led his German anti-euro party from the political wilderness straight into the European parliament.

Lucke’s small Alternative for Germany (AfD) party demands nothing less than Germany’s return to its once beloved Deutschmark, an end to EU bailouts and the orderly dissolution of the euro common currency.

Like populist leaders elsewhere in Europe, Lucke wants to repatriate many powers from Brussels to the national level, although he doesn’t want to scrap the EU itself — a stance summed up in the vague campaign motto “Have Courage to Be Germany”.

And a predictable reaction from EUbusiness:

German Jews shocked at far right’s EU success

The leader of Germany’s Jewish community Monday denounced gains made by far-right parties in EU-wide elections and urged democratic forces to block their path and defend European values.

Dieter Graumann, the president of the Central Council of Jews in Germany, said the extremist parties performed “shockingly well”, as feared, in Sunday’s European parliamentary vote.

He pointed to France, Hungary and Greece, saying in a statement: “Right-wing MPs are now coming into the European Parliament from all over Europe in order to implement their anti-European and extremist course.”

“Democratic parties are now called on to curb this way of thinking and to defend and maintain European values,” Graumann said.

More of the same from TheLocal.de:

Steinmeier ‘horrified’ at far-right seat win

Germany’s foreign minister said on Monday he was horrified that the neo-Nazi party, the NPD, had won a seat in the European Parliament. Jewish leaders and Chancellor Angela Merkel also voiced concern about the rise of the far right.

“There is no doubt that many populist, eurosceptic and even nationalistic parties are entering the European Parliament,” Frank-Walter Steinmeier said, speaking on NTV television.

“In some countries it won’t be as bad as had been feared, for example in the Netherlands, but France’s National Front is a severe signal, and it horrifies me that the NPD from Germany will be represented in the parliament,” he said, referring to the extremist anti-immigrant National Democratic Party of Germany.

From Deutsche Welle, a reminder:

Audi comes clean about its Nazi past

A historical probe commissioned by the German car maker Audi revealed Monday that the company’s predecessor exploited thousands of slave laborers under the Nazi dictatorship.

German car maker Audi unveiled a dark chapter in its history on Monday, saying its predecessor company had exploited slave labor under the Nazi regime on a massive scale.

A historical investigation commissioned by the company found that thousands of concentration camp inmates had been forced to work for Auto Union, an automobile manufacturer founded in 1932 and a forerunner company of today’s Audi AG .

Audi is the last major German car company, after Volkswagen, BMW and Daimler, to come clean about its Nazi-era history, and the study marked a clear push to be more transparent about that past.

On to Brussels and a post-election quit from euronews:

Belgian PM hands in resignation after defeat in elections

Belgium’s Prime Minister Elio Di Rupo has handed his government’s resignation to the King. It comes after this weekend’s general election which saw his Socialist party defeated.

The palace confirmed that King Philip had accepted the resignation and that the government would continue in its job until a new one was sworn in.

The Flemish separatist party N-VA won 32 percent of the vote, while the Socialists managed 30 percent. The NVA wants to dissolve Belgium and have it become a confederation of regional governments divided along linguistic lines.

On to France and explanation of sorts from TheLocal.fr:

‘We’re not racist, just angry’ say French voters

The historic victory for the far-right National Front party does not mean France is a country full of racists, voters told The Local on Monday. Rather people are simply seething with anger at the main political parties’ inability to fix the economy.

There were no anti-National Front demonstrations on Monday morning in the heart of Paris, the day after the anti-EU, anti-immigrant party took first place in the European Parliament elections in France.

In fact voters shrugged their shoulders in typical Gallic fashion and told The Local they were not surprised the party had won 25 percent of the vote, beating the centre-right UMP and the Socialists by wide margins.

Predictable panic from Europe Online:

Hollande holds crisis talks on far-right win in European elections

French President Francois Hollande convened a crisis meeting Monday with several cabinet ministers to discuss the victory of the far-right National Front (FN) – and trouncing of his Socialists – in the European elections.

Prime Minister Manuel Valls, Foreign Minister Laurent Fabius and Finance Minister Michel Sapin were among the ministers who huddled with Hollande to discuss how to proceed after the FN became France’s biggest party in Europe.

Provisional results showed Marine Le Pen’s anti-Europe FN winning 26 per cent of Sunday’s vote, a four-fold increase on its take in the last European election in 2009.

And a pickle for a predecessor from TheLocal.fr:

Cops grill Sarkozy ally over €400m state payout

A right-hand man to former French president Nicolas Sarkozy was detained for questioning on Monday over his role in a highly controversial state payout to disgraced former tycoon Bernard Tapie.

Claude Gueant, a former interior minister who also served as Sarkozy’s chief of staff, was placed in custody after he arrived at the headquarters of France’s fraud squad to clarify his role in the €400 million($557-million) payout to Tapie in 2008.

The payment was connected to a dispute between the businessman and partly state-owned bank Credit Lyonnais over his 1993 sale of sportswear group Adidas.

Next, Austria, and more electoral results from TheLocal.at:

EU Election: ÖVP defends first place

Austria’s conservative ÖVP (People’s Party) has emerged the winner in Sunday’s European elections, in spite of slight losses compared to its result in the 2009 elections.

According to preliminary results the ÖVP won 27.3 percent of the vote.  The SPÖ received 23.8 percent, almost unchanged in second place.

Both the right wing, eurosceptic FPÖ (Freedom Party), and the Grüne (Greens) made strong gains, coming in at third and fourth place respectively, with 19.5 percent and 15.1 percent.

The FPÖ made gains of 6.8 percent and will double its seats in the European Parliament – with four instead of two representatives.

Off to Poland with New Europe:

Poland’s ruling party, opposition share seats in European Parliament

Poland’s ruling Civic Platform (PO) and opposition Law and Justice (PIS) parties each took 19 seats in the European parliament after the European elections Sunday, according to preliminary results.

PO secured 31.29 percent and PIS 32.35 percent in voting in Poland. Social Democrats, New Right and Polish Peasant’s Party won five seats, four seats and four seats respectively, according to results from 91 percent of the polling stations in the country.

Prime Minister Donald Tusk said Sunday a low turnout in European Parliament elections “is a problem not only in Poland, but I would like to see a time when everyone … sees voting as something positive.”

Hungary next, via EUobserver:

Hungarian PM breaks ranks on Juncker

Hungarian Prime Minister Viktor Orban has said he will not support Jean-Claude Juncker’s bid to become president of the European Commission even if the centre-right European People’s Party (EPP) wins the European elections.

Orban is the first EPP leader to publicly break ranks on the issue.

“We don’t think he should lead the Commission,” Orban said in an interview with Hir TV on the eve of the election.

The EPP supported Orban’s ruling Fidesz party when the government was under criticism over questions of rule of law, media freedom and constitutional changes. Orban said “there is no way” he would vote for Juncker.

Next, Romania, via EUbusiness:

Ruling Social Democrats win Romania EU vote: official results

Romania’s ruling left-wing alliance led by the Social Democrats won 37.6 percent of the vote in European parliamentary elections, official results showed Monday.

Prime Minister Victor Ponta’s PSD won 16 seats according to official data issued after 99.99 percent of Sunday’s ballots had been counted.

The EU’s second-poorest country since joining the bloc in 2007, Romania will send 32 legislators to the European Parliament. The opposition National Liberal Party came second with around 15 percent of the vote, giving them six seats.

Portugal next, with EurActiv:

Socialists win in Portugal, stay second in Spain

Portugal’s main opposition Socialists won elections for the European Parliament yesterday in an austerity-weary country which earlier this month exited an international bailout. In Spain, the opposition Socialists came second, but both centre-left and centre-right lost support compared to 2009.

With more than 99% of the vote counted, the centre-left Socialists had won with 31.45% of the ballot that was marked by high abstention levels at over 66%.

The ruling coalition of Prime Minister Pedro Passos Coelho’s Social Democrats and their smaller rightist partner CDS-PP that implemented painful cuts over the three years of bailout, garnered 27.7%.

It was followed by the Communist-Greens alliance, with 12.7% and the agrarian-environmentalist Partido da Terra (Party of the Earth), which built its campaign on disillusionment with traditional political parties.

El País takes us to Spain:

Spain’s two-party system dealt major blow in EU elections

  • Popular Party (PP) and the Socialists (PSOE) fail to attract even 50 percent of the vote
  • But xenophobe and anti-European parties fail to make any headway in Spanish polls

Spain’s two main parties, which have been taking turns in power since 1977, obtained their worst results in democratic history at the European elections on Sunday.

Together, the Popular Party (PP) and the Socialist Party (PSOE) failed to attract even 50 percent of the vote, compared with the 80 percent they garnered at the 2009 EU elections.

This massive loss of support reflects the rapid rise of smaller parties that portray the two main players as being similarly corrupt, beholden to money and unable to effectively deal with the economic crisis.

El País again, with another resignation:

Socialist leader throws in the towel after poor showing at European elections

  • Alfredo Pérez Rubalcaba calls extraordinary party meeting in July to choose new leadership

Alfredo Pérez Rubalcaba and his team have decided to throw in the towel. In the wake of the Socialist Party’s (PSOE) poor showing at Sunday’s European elections, the leader of the main opposition group in Spain’s Congress has called an extraordinary party meeting for July 19 and 20. The order of the day will be choosing a new general secretary, given Rubalcaba’s decision to bow out.

“The meeting will serve for us to choose new leadership for the party,” he told the press on Monday. “I am assuming my responsibility for the results.”

Rubalcaba described Sunday’s election results – which saw the PSOE take just 14 seats, with 23.03 percent of the vote – as “bad, with no palliatives.” The Popular Party (PP), which is currently in power in Spain, took 16 seats (26.04 percent) at a poll that saw the two main parties secure their worst results in democratic history.

And El País one more time, with a symbolic result:

Town with controversial “Killjews” name votes in favor of change

  • Burgos municipality will become “Little Fort on Jew Hill” following local referendum

The end has come for Castrillo Matajudíos, the small village in Burgos province that gained global notoriety after announcing it would hold a referendum on May 25 to consider a name change from the current “Little Hill-Fort of Jew Killers.”

“Everyone is watching expectantly to see what we will do: in Italy, in New York…” said Mayor Lorenzo Rodríguez a few days before the vote, which was made to coincide with elections to the European Parliament.

The uncertainty came to an end at 8pm on Sunday, when the vote count showed a majority support for changing the village’s name to Castrillo de Mota de Judíos, or Little Hill-Fort on Jew Hill. “Mota” means hill or mound in Spanish, and the mayor has posited that this was probably the community’s original name before a spelling mistake on an official document changed it to Matajudíos in 1623.

Off to Italy and a market response from TheLocal.it:

Italian stocks surge after Renzi’s EU victory

Italian stocks rocketed up 3.61 percent on Monday after Matteo Renzi’s Democratic Party swept to victory in the European Elections, claiming 40.8 percent against of the vote against 21.2 percent for the anti-establishment Five Star Movement and 16.8 percent for disgraced former leader Silvio Berlusconi.

The victory will give Renzi’s centre-left party a leading voice in Europe and bolster his ambitious reform programme.

The landslide gives the party the highest number of MEPs among Europe’s leftists and was one of the best showings for any European leader – a far higher result than the 25.4 percent it scored in a 2013 general election.

Cheering up also-rans with ANSA:

Grillo tells M5S supporters not to lose heart

  • Leader tells supporters M5S opposition will do more

Beppe Grillo, leader of the anti-establishment 5-Star Movement (M5S), urged his followers Monday to not lose heart despite the political party’s failure to do as well as it expected in the European elections that ended Sunday.

“Do not be discouraged, (I am) confident that we can move forward,” said Grillo, whose party won 21.16% of votes, in second place behind the ruling Democratic Party (PD) with 40.81%.

The M5S will make its mark as a strong opposition force that will demand positive changes to Italy, added Grillo in comments posted on his blog, one of his favoured methods of communication.

ANSA again, with more also-rans:

Berlusconi says FI remains ‘linchpin’ despite poor result

  • Ex-premier says his ‘guiding star’ is uniting moderates

Ex-premier Silvio Berlusconi said Monday that his Forza Italia (FI) is the linchpin of the centre right and a “decisive partner” of the Italian government despite placing third in European Parliament elections. Premier Matteo Renzi’s centre-left Democratic Party (PD) took almost 41% of Sunday’s vote while FI captured less than 17%. Comedian-turned-politician Beppe Grillo’s anti-establishment, Euroskeptic 5-Star Movement (M5S) took 21.16%.

Berlusconi was unable to stand or even vote in the election after being ejected from parliament following a binding tax-fraud conviction last year. The three-time premier and his supporters say that conviction is the result of persecution by left-wing elements in the judiciary who are trying to eliminate him from Italy’s public life. Berlusconi said that despite the poor showing, his party is still important to ensuring necessary government reforms announced by Renzi are passed.

“We are at the same time the decisive partners without which there are not the numbers in Parliament to make real reforms, definitive and lasting for the good of the country,” he said.

And some more Bunga Bunga woes from TheLocal.it:

Ex-MP ‘pilfered public money’ in Iraq deal

  • Italy’s former environment minister has been placed under house arrest for alleged embezzlement involving an Iraq water deal.

Corrado Clini, who served as environment minister with Mario Monti’s government, allegedly stole over €3 million from public money that was meant to fund a water purification project in Iraq, Corriere della Sera reported.

A businessman from Padua, whose company oversaw the deal in Iraq’s Tigris and Euphrates basin, was also placed under house arrest by Italy’s Finance Police on Monday morning, the newspaper added.

They face charges of embezzlement against the Italian ministry of environment, land and sea.

After the jump, its on to Greece and Syriza’s win and woes for the losers, the latest electoral and uprising news from the Ukraine, electioneering and ridicule in Egypt, intensified turmoil in Libya, Brazilian pre-World Cups woes and tensions, elections in Colombia and Venezuela, more austerity Down Under [targeting jobless youth], Macau unrest, Indian triumphalism, Thai troubles, more signs of a Chinese slowdown, environmental woes, and Fukushimapocalypse Now!. . .
Continue reading

Soybeans and indigenous culture destruction


Soybeans have been hailed as a miracle crop, and they’ve certainly made miraculous millions for UC Berkeley “bioentrepreneur” Chris Somerville [he of the $500 million BP-funded Energy Biosciences Institute], who sold his soy breeds to Monsanto before coming to Berkeley to head the BP program.

But what of those most impacted by the wonder crop, the Third World peoples whose lands are seized or purchased by Big Agra multinationals?

Deutsche Welle looks at one people deeply impacted by the corporate soy culture, the Aché of Parguay:

From Deutsche Welle:

Paraguay: The Downside of Soybean Consumption

Program notes:

Paraguay’s Atlantic Rainforest is home to the Aché. The indigenous people live from and with the forest as traditional hunters and gatherers. But pressure is growing on them: large-scale soya producers are offering them money for their land.

Only 13 percent of their original habitat in the Atlantic Rainforest remains. An Aché community of 40 families lives in the southern part of the forest. They still own 500 hectares of land. They’re surrounded by soybean plantations, but they, too, have to farm land to survive. A team from the World Wide Fund for Nature is helping the Aché preserve their habitat and way of life. They are encouraging the revival of yerba maté cultivation. The plant regenerates the forest floor, resulting in greater biodiversity.

Headlines: Pols, cons, econs, lies, and more


Today’s tales from the realms of politics, eocnomics, and the environment begins with one of the reasons a cynic might believe it’s game over. From United Press International:

House bans Pentagon from preparing for climate change

  • Representatives: Amendment “is science denial at its worst and it fails our moral obligation to our children and grandchildren.”

The Republican-controlled House of Representatives voted mostly along party lines Thursday to approve an amendment to the $600 billion National Defense Authorization Act which prohibits the Pentagon from using any of its budget to address climate change and specifically instructs the Department of Defense to ignore the latest scientific reports on the threats posed by global warming.

The amendment, sponsored by Rep. David McKinley, a Republican whose home state of West Virginia’s economy is heavily leveraged in coal mining, reads:

None of the funds authorized to be appropriated or otherwise made available by this Act may be used to implement the U.S. Global Change Research Program National Climate Assessment, the Intergovernmental Panel on Climate Change’s Fifth Assessment Report, the United Nation’s Agenda 21 sustainable development plan, or the May 2013 Technical Update of the Social Cost of Carbon for Regulatory Impact Analysis Under Executive Order.

The data the amendment is forcing the Pentagon to ignore are the most recent and comprehensive reports on the dangers the United States faces as a consequence of climate change.

Another reason, from CNBC:

25% of Americans saving $0 for retirement

  • Retirement savings for about a quarter of Americans amounts to … $0.

One in every 4 Americans is not saving for retirement at all, either because they are not thinking about it, do not really know how or, worse, do not feel they can afford to, according to a report by Country Financial.

Americans ages 18-29, often called “millennials,” are among the worst when it comes to saving for retirement, the firm said. Nearly a third—32 percent—aren’t saving at all for their “golden years.”

Bloomberg News excludes:

No Recovery for Workers in the Middle

  • Whether it’s the back seat of a subcompact car or the U.S. labor market, the middle can be an uncomfortable spot.

Highly educated Americans have been enjoying the recovery for quite a while. And low-skilled Americans may finally be recovering some of their lost ground, Bloomberg News reports. The jobless rate for workers with a high school education or less is down about one percentage point since December, for example.

Left out are so-called “middle skill” workers, according to a new analysis [PDF] from the Federal Reserve Bank of New York. The worse-than-mediocre prospects for these average workers repeats a four-decade trend. Recessions destroy a disproportionate number of middle-income jobs, like those held by secretaries and machine operators, that can be easily outsourced or automated. When the economy recovers, there’s demand for jobs at the top, like doctors and tech workers, and at the bottom, like restaurant workers and home health aides. But most of the jobs in the middle are gone forever.

From Reuters, you gotta beef with that?:

USDA warns of sticker shock on U.S. beef as grilling season starts

The Department of Agriculture has warned of sticker shock facing home chefs on the eve of the Memorial Day holiday weekend, the unofficial start of the U.S. summer grilling season.

The agency said conditions in California could have “large and lasting effects on U.S. fruit, vegetable, dairy and egg prices,” as the most populous U.S. state struggles through what officials are calling a catastrophic drought.

The consumer price index (CPI) for U.S. beef and veal is up almost 10 percent so far in 2014, reflecting the fastest increase in retail beef prices since the end of 2003. Prices, even after adjusting for inflation, are at record highs.

China Daily hustles:

US hedge fund raises money from wealthy Chinese to invest abroad

In a milestone for the global hedge fund industry, US-based Citadel LLC has become the first global fund to raise money from wealthy Chinese individuals for investment abroad.

Chicago-based Citadel was one of six foreign hedge funds approved in September by China’s foreign-exchange regulator to each raise $50 million in yuan under the trial Qualified Domestic Limited Partner (QDLP) Program that allows high net worth Chinese to invest abroad via foreign hedge funds.

The company founded by billionaire Ken Griffin won regulatory approval for currency exchange on March 26, meaning it can now convert the yuan to US dollars for investing, according to a statement Wednesday from the Shanghai government’s information office.

China Daily again, with a visitor en route:

2.1m Chinese to visit US this year

An estimated 1.8 million Chinese tourists visited the US in 2013, and that number is expected to grow by 21 percent in to 2.1 million this year.

And US President Barack Obama has signaled that he’s going do what he can to increase not only the number of Chinese visitors, but all foreign tourists.

On Thursday, Obama signed a presidential memorandum giving secretaries at the Homeland Security and Commerce departments four months to come up with a plan to streamline the entry process for foreign visitors to reduce wait times.

A central bankster warning from Reuters:

Central banks must be on guard against currency wars, says ECB’s Coeure

Central banks need to cooperate to avoid a currency war, European Central Bank policymaker Benoit Coeure said on Friday, and the ECB should take account of the euro’s exchange rate in its monetary policy deliberations.

Speaking in Paris, Coeure also said that cutting the ECB’s deposit rate into negative territory was a policy option for the bank but would not be an exchange rate policy.

In a speech on “Currency wars and the Future of the International Monetary System”, Coeure asked whether, from the ECB’s perspective, central banks should take account of exchange rates in monetary policy; whether there is a currency war now; and whether international cooperation is needed in this regard.

Trust us, they say. Via EUbusiness:

Atlantic trade talks: US, EU seek to calm food worries

US and EU officials tried Friday to calm fears that an ambitious transatlantic free trade pact would not erode food safety rules.

Closing out five days of talks to advance the proposed Transatlantic Trade and Investment Partnership (TTIP), negotiators stressed that any deal would not force Europeans to accept US foods already ruled unsafe in the European Union.

“We cannot envisage… changing our food safety law as a result of the trade negotiations,” EU negotiator Ignacio Garcia Bercero said at a press conference in Washington.

“There’s no intention of forcing the Europeans to eat anything that Europeans don’t want to eat — that’s not what this agreement is about,” said his US counterpart, Dan Mullaney.

From EUbusiness, sure, right:

Germany’s Schaeuble denies austerity sparked populist backlash

German Finance Minister Wolfgang Schaeuble denied in an interview Friday that the rise of eurosceptics expected in weekend elections was due to austerity policies championed by Berlin.

He was asked by The Wall Street Journal whether anticipated gains by populist and anti-EU parties in the European Parliament vote until Sunday would be the price to pay for years of belt-tightening.

“Some will interpret it that way,” Schaeuble replied. “I think that’s wrong. You can see that our policy to stabilise the eurozone was successful.”

On to Britain and the right rising from BBC News:

Nigel Farage: UKIP to be serious players at general election

UKIP leader Nigel Farage has said his party will be “serious players” at the 2015 general election after it made gains in council polls across England.

Mr Farage said the “UKIP fox is in the Westminster hen house” after it gained more than 150 council seats.

The BBC’s projected national share of the vote suggests UKIP would have scored 17% in a Britain-wide election. Labour would have got 31% of the vote, ahead of Conservatives on 29% with the Liberal Democrats on 13%.

More from the Independent:

Local election results 2014: Nigel Farage hails Ukip’s ‘political earthquake’ and vows more to come

The three main political parties were last night assessing the damage from local elections in which they were all hit by the “political earthquake” that Nigel Farage’s Ukip promised and delivered.

Mr Farage predicted that his party’s sweeping gains outside London in Thursday’s council elections in England will be matched by coming first when the results of the European Parliament poll are declared on Sunday night.

The Conservatives, Labour and the Liberal Democrats all put their best gloss on yesterday’s town hall results. But behind the scenes, they were frantically calculating the impact that the new “four-party” political landscape would have on next year’s general election.

The Guardian recommends, righteously:

Jail fraudsters for longer, judges told

  • Guidelines from Sentencing Council instruct judiciary to make harm to victims a central factor in deciding on custody

Longer prison sentences for frauds that target the vulnerable and fresh sanctions against money-laundering are recommended in new judges’ guidelines issued by the Sentencing Council.

The impact of fraud on victims should be a central feature when judges come to consider the level of punishment imposed on convicted fraudsters, the guidance explains. Previous guidelines for many fraud offences referred to the harm done to victims merely as an aggravating factor.

Some of the recommendations significantly raise the starting point in terms of sentence length. The previous range for offences involving more than £500,000, for example, was four to seven years’ custody with a starting point of five years. The range in the new guideline is five to eight years with a starting point of seven.

The London Telegraph scents a bubbly deflation:

London’s property boom is losing its fizz

  • Even the super-rich are baulking at rising prices in the capital and would-be buyers are wary of a rise in interest rates

The Duke of Westminster’s Grosvenor Estate, that most canny of residential property owners, recently took the opportunity to offload hundreds of millions of pounds’ worth of property in Mayfair and Belgravia, so silly had prices become. And it is not just the playgrounds of hedge fund bosses and Russian oligarchs that are feeling the chill. Long-favoured spill-over districts for those no longer able to afford Chelsea and South Kensington are also experiencing something of a hiatus. Properties aren’t selling, and those that do are frequently failing to achieve asking prices. “The market has come right off,” says one insider with his nose to the ground.

Viewed in this light, the imminent stock market flotation of Zoopla, the online property website, for some ridiculous sum of money may be something of a last hurrah, like the sky-high price put on the estate agent Foxtons back in 2008.

From the Guardian, a fracking letdown:

No shale gas potential in Weald basin, concludes British Geological Survey

  • Ministers deny hyping UK potential after BGS says only a fraction of Weald oil reserves is recoverable

Government hopes that Britain can emulate the US by starting a shale-gas revolution have been knocked back after a long-awaited report unexpectedly concluded there was no potential in fracking for gas in the Weald region of southern England.

Michael Fallon, the energy minister, insisted he was neither “disappointed nor happy” at the findings from the British Geological Survey and denied the government had hyped the potential for extracting shale gas in Britain.

He preferred to focus on more positive BGS findings that there could be 4.4bn barrels of oil in the shale rocks of the area, which stretches from Salisbury to Tunbridge Wells – although in practice recoverable reserves are likely to be a fraction of this.

More from the Independent:

No gas found in the Weald basin: Does this spell the end of the Government’s dream of a fracking revolution?

The Government’s dream of kickstarting a fracking revolution has suffered a major setback after a survey of one of the UK’s great shale gas hopes found no evidence of gas in the area.

And while the same survey – of the Weald basin, stretching from Wiltshire to Kent – did find an estimated 4.4 billion barrels of oil, the scientist who oversaw the project admitted it would be so difficult to extract that the basin would be unlikely to yield even 0.5 per cent of the oil so far extracted from the North Sea.

Robert Gatliff, director of energy and marine geoscience at the British Geological Survey, which produced the report, said: “It’s not a huge bonanza. But we have to see what happens.” He added: “It is going to be a challenge for the industry to get it out.”

By way of stunning contrast, the same basic story refracted through the lens of the stalwart conservative London Telegraph:

Fracking in Tory heartlands ‘in national interest’, says Michael Fallon as report reveals 4.4bn barrels of oil

  • Energy minister denies disappointment as experts say tiny fraction of oil can be recovered and will not lead to “huge bonanza”

Fracking should take place in Tory heartlands of south-east England “in the national interest”, energy minister Michael Fallon has said, despite expert warnings that there was not enough oil in the region to spark a “huge bonanza”.

A British Geological Survey study of the “Weald” basin revealed that 4.4bn barrels of shale oil was likely to lie in the area, primarily beneath Surrey, Sussex and Kent.

But the BGS said that only a small fraction of the oil – potentially 5pc, the equivalent of less than six months’ UK oil demand – was likely to be recoverable through fracking.

Mr Fallon insisted that fracking must go ahead in the area, despite it being largely covered by the South Downs National Park and by the Surrey Hills and High Weald Areas of Outstanding Natural Beauty – areas in which some Tory MPs have already suggested the drilling should not take place.

On to Norway and a rejection from TheLocal.no:

Norway scuppers China tycoon’s Arctic plan

The Norwegian government has leapt in to buy a huge swathe of Arctic land on the Svalbard archipelago a week after one of China’s richest property tycoons announced he might buy it to build a resort.

The land, a 216 square-kilometre estate with its own mountain and large coal reserves, had been put up for sale by the industrialist and farmer Henning Horn, and his sisters Elin and Kari Horn.

“The government has decided to work for a solution involving a state takeover Austre Adventfjord,” trade minister Monica Maeland said in a statement released on Thursday. “Through public ownership and Norwegian law, we have the best starting point for managing Svalbard for the common good.

Germany next, and a rare exception at a time other countries are doing the opposite, via TheLocal.de:

Ageing Germany lowers retirement age

German lawmakers approved on Friday a major pensions overhaul, criticised by many, including within Chancellor Angela Merkel’s coalition, as making little economic sense in a rapidly ageing country.

The new rules will allow some workers to retire at the age of 63, while the norm of 67 is being progressively phased in for workers in Europe’s top economy after a 2007 change.

Together with an improvement in pensions for mothers whose children were born before 1992, the reforms are set to cost Merkel’s left-right “grand coalition” €60 billion up to 2020.

From Deutsche Welle, diplomatic phrasing:

German business confidence takes a breather

  • Confidence among German business leaders has dropped slightly. A closely watched monthly poll by a leading economic think tank revealed executives expected business prospects to worsen later in the year

The Munich-based Ifo economic research institute reported Friday that its benchmark index gauging business confidence among top executives across the nation fell to 110.4 points in May, down from 111.2 points in the previous month.

The latest poll among some 7,000 managers indicated that on average, compared with last month, the executives polled consider the current business environment to be less favorable, and are less optimistic about prospects for the next six months.

In contrast, analysts polled by Reuters penciled in a less pronounced drop in the confidence barometer.

Süddeutsche Zeitung gets behind the wheel:

What’s Driving Gulf Cash To European Holdings

Once upon a time, buying an expensive German car was enough to make a rich sheikh happy. Lately it seems a car doesn’t quite cut it, though a sizeable stake in an entire German car company may do nicely, thank you.

Four years ago, for example, at a Volkswagen general assembly, a man was sitting up on the stage who didn’t look like the others there from the VW family dynasty. The man’s name was Hussain Ali Al-Abdulla, and he was a board member of the Qatar Investment Authority (QIA) that owns 17% of VW after acquiring most of Porsche’s share options.

Seventeen percent of the common stock of one of the world’s largest automakers is a great deal. But since the Porsche and Piëch families (via Porsche Holding) own over half of VW stocks and the state of Lower Saxony holds a further 20%, this 17% gives the QIA a strategic right to make its voice heard quite clearly — if not direct power.

France next, and an austerian rebuff from TheLocal.fr:

French military top brass threaten to quit over cuts

  • The battle over further cuts to France’s military budget prompted dire warnings from the country’s defence minister and a threat from the heads of the armed forces to resign

France’s defence minister has warned that any further cuts in the military budget would badly hamper operations amid reports that the top brass would quit if there was further belt-tightening.

French President François Hollande will take decisions on the issue in the coming weeks, his entourage said on Friday, following Defence Minister Jean-Yves Le Drian’s letter to him. The warning comes at a time when France has sent troops to two of its former colonies in Africa, Mali and the Central African Republic, where there has been widespread fighting following coups.

If there are more cuts, “the army will become under-equipped and will not be able to undertake new operations,” said Le Drian.

And from EurActiv, in your heart you know they’re right, far right:

Marine Le Pen and Golden Dawn ‘flirting’

A post EU-election alliance between the French far-right National Front and the Greek neo-Nazi party Golden Dawn is not entirely ruled out. EurActiv Greece reports.

Officially, Marine Le Pen has sought to distance the National Front from Golden Dawn and other parties it sees as being too extremist.

But the political balances in the next European Parliament and the openly ambiguous stance of Golden Dawn make an alliance still look possible.

Austria next, and the usual accumulation from TheLocal.at:

Austrian millionaires richer than ever before

  • The assets of Austria’s millionaires grew in 2013 by seven percent, to €262 billion, making them richer than ever before

Austria’s millionaires could pay off the country’s entire debt in one shot, and still have another €20 billion left over, according to a report by the Liechtenstein investment company Valluga.

It noted that the gap between rich and poor is widening in Austria.

A total of 4,600 Austrians became millionaires last year. This means that 82,300 people now have financial assets of more than €1 million, not including owner-occupied real estate.

Switzerland next and sounds of another bubble popping from TheLocal.ch:

Property prices plunge in Geneva region: report

After rising steadily for five years, home prices tumbled by an average of more than six percent in the city of Geneva during the first quarter of this year, compared to the same period in 2013.

That’s the estimate from UBS and real estate consultants Wüest & Partner for average prices of condominiums and villas, according to a report from the Tribune de Genève published on Thursday.

The estimate shows weaker prices across the Lake Geneva region, where an average drop of 2.4 percent was seen, and a slowdown in certain other parts of Switzerland.

Average prices were down by four percent in Lausanne and lower by about 1.5 percent in Winterthur in the canton of Zurich.

On to Spain, and a bankster benediction from New Europe:

S&P raises Spain’s credit rating a notch, cites better economic prospects

Standard & Poor’s rating agency has upgraded Spain’s sovereign credit grade a notch, the third agency to do so in recent months and a further sign the country is turning the corner after five years of economic turmoil.

The agency raised the grade to BBB from BBB-, citing improved economic prospects and praising the conservative government’s structural and labor reforms since 2010.

Two other agencies, Moody’s and Fitch, have also upgraded Spain this year.

El País delivers the grim working class reality:

One in five Spanish job seekers has not worked in three years

  • Long-term unemployment rose 22% last year, to 1.275 million
  • Experts warn problem will be lasting legacy of the economic crisis

Six years into a profound jobs crisis, and the full effects of long-term unemployment are beginning to emerge. Figures from the latest Active Population Survey show that 60% of Spain’s 6 million unemployed have not worked in a year. What’s worse is that among this group, the proportion of people who have been without work for three years or more is growing, and now stands at one out of every five job seekers, according to data published on Friday by the National Statistics Institute (INE).

The Active Population Survey shows that last year there was an average of 1,275,700 job seekers who, having been active previously, had been unable to return to the job market in at least three years. This represents a rise in long-term unemployment of 234,200 people compared with 2012, an increase of 22%.

Admittedly, the pace of the increase has fallen off in the last two years, when long-term unemployment was rising at a rate of 40% a year. But it remains way above the general unemployment rate, which has begun to fall in the last two quarters, as a result of the marked decline in the active population. In 2007 the proportion of people who had gone three years without working was just 13% of all job seekers, while in 2013 that figure reached 21%.

From TheLocal.es, that good ol’ hard times intolerance:

Spanish mayor ‘sorry’ for ‘anti-immigrant’ outburst

A Spanish mayor has apologised after being accused of racism by Romanian immigrants for a foul-mouthed tirade against thieves.

Mayor Josu Bergara was recorded in a meeting last year boasting that he had made sure “the scum no longer come” to his northern town of Sestao.

Five Romanian families lodged a complaint against him in court, accusing him of illegally refusing to register them as residents in the Basque town. They submitted a video of his outburst as evidence of racism to support their case, said the campaign group SOS Racismo, which aided the families.

Italy next, and last minute political vituperation from Corriere della Sera:

Grillo and Renzi Clash as Berlusconi Speaks in Rome

  • M5S leader claims: “Berlinguer is on our side”. Premier replies: “Wash your mouth out”. Berlusconi appeals for moderate vote

Matteo Renzi and Silvio Berlusconi took to the hustings in Rome, the former in Piazza del Popolo and the latter at the Palazzo dei Congressi in the EUR district. Meanwhile Beppe Grillo was in Milan’s Piazza del Duomo. The prime minister and the Five Star MoVement (M5S) leader swapped barbs over Enrico Berlinguer. “He’s on our side”, thundered former stand-up comic Grillo. “Wash your mouth out”, was the PM’s reply.

With the race to the polls entering the final straight, the three largest parties took to the streets at almost the same time on Thursday evening for their last rallies before the campaign officially closes. Earlier in the day, Mr Renzi said on Radio1’s Radio anch’io programme: “The risk is that someone might seek to block the reforms. I think that Italy can be a guide for Europe and has an amazing future. If they don’t let me make the reforms, then yes, my project will have failed and I’ll pack my bags”. Speaking in Piazza del Popolo, Mr Renzi recalled that “a united Europe started here” before launching his attack on the M5S leader: “Grillo mentioned Berlinguer in Florence. People who aren’t fit to speak names like that shouldn’t be mentioning them. You can’t say ‘I am beyond Hitler’ and ‘Berlinguer’ in the same breath. Wash your mouth out. Wash your mouth out. Wash your mouth out”.

“I solemnly pledge that all pensioners will get a €1,000 monthly pension, to be on the cabinet’s agenda for its first meetings”. Silvio Berlusconi made the promise at his EUR rally, where he added that a similar measure would be taken “in favour of housewives”. Mr Berlusconi said he was disappointed by Mr Renzi (“He’s meant more spending and more taxes”) and reaffirmed that Mr Grillo was taking advantage of “ordinary people’s desperation”.

From TheLocal.it, political realism?:

Red light district wins Rome mayor’s support

Rome Mayor Ignazio Marino has said he is in favour of having a red light district in the Italian capital, following moves in Milan to see the sex trade regulated.

Marino said on Thursday he is “in favour of zones where prostitution is allowed and zones where it isn’t,” although added that as mayor he did not have the power to open a red light district in Rome.

“This overflow of prostitution doesn’t only damage the decorum of the city, but it is a great cause of public annoyance in some neighbourhoods,” he was quoted in Corriere della Sera as saying.

His rethink on regulation of the sex trade follows calls by Matteo Salvini, a Northern League (Lega Nord) politician in Milan, to open a red light district in Italy’s financial capital.

And fueling around with TheLocal.it:

ENI clinches Gazprom deal to cut gas prices

Italian energy major ENI on Friday said it had signed a deal with Russian gas giant Gazprom that will cut gas import prices as part of a revision of its contract.

“The agreement involves a reduction in supply prices and an important change in the price indexation to fully align it with the market,” ENI said in a statement.

It said the deal, which was signed in Russia by Gazprom chief executive Alexei Miller and ENI boss Claudio Descalzi, would apply retroactively from the start of 2014.

Aftter the jump, the latest from Greece [including accelerating political fireworks], the latest from the Ukraine, Libyan vexation, Venezuelan vituperation, Thai coup grip intensification, Aussie educational austerity, Chinese economic uncertain and corruption woes, Sony tries again, Japanese financial plans, environmental woes, and Fukushimapocalypse Now!. . . Continue reading

Headlines: Cons, mergers, & Fukunightmares


Long collection of headlines from the worlds of economics, politics, environmental nightmares, and the Fukushima disaster, so we go straight on, first with a headline from New America Media:

FACTS ON ETHNIC ELDERS: Recession Leaves Ethnic Families ‘Beyond Broke’

Black, Hispanic and Asian Americans face an economic “quadruple whammy,” leaving them with little or no financial cushion as they age, finds a new study released Monday.

Titled “Beyond Broke: Why Closing the Racial Wealth Gap is a Priority for National Economic Security,” the study used 2011 Census data to examine household worth for all ages. It found that the medium net worth of households of color from 2005-2011 dropped 58 percent for Latinos, 48% for Asians, 45% for African Americans — but only 21 percent for whites.

“You have the racial gap in pay, the gender gap in pay, the ageism gap in pay and predominantly single-income households,” says Maya Rockeymoore, president of the Center for Global Policy Solutions (CGPS) which commissioned the study. “You’re looking at the intersection of all of these disparities.”

Injustice for all, via NPR:

As Court Fees Rise, The Poor Are Paying The Price

A yearlong NPR investigation found that the costs of the criminal justice system in the United States are paid increasingly by the defendants and offenders. It’s a practice that causes the poor to face harsher treatment than others who commit identical crimes and can afford to pay. Some judges and politicians fear the trend has gone too far.

A conducted by NPR found that defendants are charged for many government services that were once free, including those that are constitutionally required. For example:

  • In at least 43 states and the District of Columbia, defendants can be billed for a public defender.
  • In at least 41 states, inmates can be charged room and board for jail and prison stays.
  • In at least 44 states, offenders can get billed for their own probation and parole supervision.
  • And in all states except Hawaii, and the District of Columbia, there’s a fee for the electronic monitoring devices defendants and offenders are ordered to wear.

But some are doing well, via The Wire:

Tiffany Sold Much More Bling Than Usual This Quarter

Tiffany & Co. had an incredible quarter, blowing away analysts predictions. Tiffany reported $1 billion in revenue during the first quarter, jumping 13 percent from this time last year. Worldwide, sales increased 15 percent. Their income was $125.6 million, a 50 percent jump from 2013. Earnings were up $0.97 a share.

The key to these spectacular earnings numbers was not their highest-end luxury items, but Tiffany’s lower-cost pieces, led by the Atlas Collection. The most expensive piece in that collection is the Atlas Cocktail Watch, which is 18k rose gold and complete with 197 diamonds (just under two carats.) It’s cost is $26,500. While that might be pricey, pieces in the popular Elsa Peretti collection go well above $30,000 and the Yellow Diamonds collection offers a variety of pieces in the $100,000 range.

For these lower priced pieces, the profit margin is actually higher. This helped drive profit margins for the company as a whole. Last year, the margin was 56.2 percent, and this quarter it was up to 58.2 percent.

The Berkeley Blog covers another divide:

The Digital Divide Redux: Broadband, Net Neutrality, and the Comcast-Time Warner Merger

A few months ago, Comcast announced a $45 billion deal to purchase Time Warner. Although much of the initial commentary focused on the potential effect this proposed merger would have in the cable television market (since Comcast and Time Warner are the first-and second- largest cable providers in the US), the effects in the broadband market are far more important.  Research at the Haas Institute for a Fair and Inclusive Society suggests that broadband is an increasingly critical element of social, economic and civic life.

In its 2010 “National Broadband Plan” report, the FCC describes Broadband as “the great infrastructure challenge of the early 21st century.”  Just as the interstate highway system transformed residential life, facilitated the growth of the suburbs, and connected families to the broader economy of a region, broadband is a structural conduit for opportunity and upward mobility and in America today.  Unfortunately, like the interstate highway system and the residential patterns it engendered, broadband access and affordability may yet become a new form of segregation in America.  A research paper [PDF] co-authored by Haas Institute researcher Samir Gambhir notes the inequality of broadband access, affordability and quality experienced by low-income neighborhoods, rural households, and communities of color in particular.

The Comcast-Time Warner merger would give Comcast control over 40 percent of the country’s internet service in 19 of the country’s top 20 cable markets.  Imagine if one corporation privately controlled 40% of the most important roads, streets, highways and bridges in those same markets.  The issue isn’t just access; its affordability and quality (such as internet speed) for low-income families and many marginalized communities. If the Comcast-Time Warner merger reduces competition and increase the price of broadband access, the harms to upward mobility, economic opportunity and our nation would be far reaching.

And another merger warning sign from PC Advisor:

Comcast and Time Warner rank dead last in satisfaction as merger looms

  • A combined company would probably be even worse, according to the American Consumer Satisfaction Index.

In the latest survey by the American Customer Satisfaction Index (via DSL Reports), the two companies landed at the bottom of the list for both TV and Internet services.

Comcast scored 60 points for television service, which is five points less than the industry average, and three points lower than last year’s score. Time Warner Cable scored 56 points, down 4 points from last year, and nine points lower than the industry average. DirecTV and AT&T U-Verse were on top of the list with 69 points. (Incidentally, AT&T is now hoping regulators will approve an acquisition of DirecTV.)

Internet service was even worse. Comcast scored 57 points, down from 62 points last year, while Time Warner’s score dropped to 54 points, from 63 points in 2013. Both companies are now far below the industry average of 63 points, and nowhere near Verizon’s 71 points for its FiOS service.

Via Reuters, serial killers unite:

Exclusive: Reynolds American, Lorillard in advanced merger talks

Reynolds American Inc (RAI.N) is in active discussions to buy Lorillard Inc (LO.N) in a complicated, three-way transaction that could see British American Tobacco PLC (BATS.L) take a major role to back a potential merger, according to people familiar with the matter.

The proposed deal, which is in late stage talks, would unite the second- and third-largest U.S. tobacco companies that have a combined market value of nearly $55 billion, putting brands such as Reynolds’ Camel and Lorillard’s Newport under one roof.

The companies are working to finalize an agreement in as soon as a matter of weeks but the talks will likely take longer given the complex structure, the people said, asking not to be named because the matter is not public.

From the Yomiuri Shimbun, pushing the neoliberal agenda to the East:

Japan, U.S. play leading roles in acceleration of TPP talks

The progress made toward this summer’s broad agreement during ministerial-level negotiations on the Trans-Pacific Partnership pact in Singapore on Monday and Tuesday was largely due to accelerated discussions on tariffs, in response to the substantial agreement made between Japan and the United States.

Cooperation between the two nations to lead TPP talks also proved effective.

Speaking at a joint press conference after the two-day meeting, Australian Trade and Investment Minister Andrew Robb praised the acceleration of the negotiations as a whole in the wake of the breakthrough between Japan and the United States. He added that the progress in the Japan-U.S. negotiations had set a precedent for future negotiations on the TPP pact.

And pushing it to the West with EUbusiness:

New round of Atlantic trade pact talks opens in Washington

US and European negotiators opened a new round of talks on creating a transatlantic free trade zone Monday amid rising political and public resistance to the deal on both sides.

The fifth round of negotiations on the Transatlantic Trade and Investment Partnership (TTIP) will cover the details of proposals from the US and EU sides, with no aim to resolve the most difficult divisions between the two sides, officials said.

“This is clearly not the stage in which the difficult political decisions need to be taken,” an EU official said ahead of the talks.

Xinhua predicts:

World economy poised to grow moderately, but lower than pre-crisis levels

The global economy is expected to strengthen over the next two years, despite a downgrade of growth prospects for some developing economies and economies in transition, showed a UN report released here Wednesday.

In the mid-year update of UN World Economic Situation and Prospects (WESP), global growth rate was revised down from the forecasts presented in the WESP 2014.

Growth of world gross product (WGP) is now projected at 2.8 percent in 2014 and 3.2 percent in 2015, up from 2.2 percent in 2013, the report said. However, this pace of expansion is still lower compared to the growth level before the 2008 global financial crisis.

And on to Europe, first with Al Jazeera:

EU far-right expects success in elections

  • Eurosceptic, anti-immigrant parties hope to make big gains in vote for a new EU parliament.

From May 22-25, hundreds of millions of people from the European Union’s 28 member countries will vote for members of the European Parliament, one of the EU’s two legislative bodies.

The last elections were held in 2009, before the depths of Europe’s economic and financial crises. Since then, five EU countries – Greece, Ireland, Spain, Portugal and Cyprus – have required bailouts, and unemployment across the continent, especially among youth, has remained persistently high.

This has led many Europeans to sour on the union – a disenchantment reflected in polling figures that show a significant portion of the electorate plans on voting for far-right parties for the European Parliament.

These parties are highly sceptical of European government and the euro, and staunchly oppose immigration and multiculturalism. Far-right groups look poised to make especially large gains in the Netherlands, Greece, France and Hungary.

Britain next, and austerity rampant with the Independent:

NHS in the red: Hospitals forced to beg Government for equipment loans and electricity bills

The intense financial pressure faced by NHS hospitals has been laid bare in a series of letters, which range from pleas for bailout loans to replace defunct equipment, attempts to fend off legal threats from suppliers and even requests to pay off electricity bills.

Details of requests for short-term financial aid sent to the Department of Health reveal that one NHS trust was threatened with having the electricity supply shut off at a building on their hospital site, while another said it faced an “untenable level of equipment breakdown and obsolescence”.

The 15 loan requests, made in February and March this year, which were released following Freedom of Information requests from the Health Service Journal, reveal the impact of the NHS financial crisis for England’s most hard-up hospitals.

65 NHS trusts in England are already in financial deficit. A recent survey of NHS finance directors revealed that two thirds are concerned their trust will go into the red in the year of the General Election.

On to Paris and anticipated tarnishing from France 24:

Far-right win in European elections ‘will tarnish French image’

Most opinion polls in France forecast an unprecedented victory for France’s far-right National Front party in Sunday’s European elections, an outcome that observers warn will strip France of its influence on the continent.

Surveys indicate that the anti-euro National Front (FN) is poised to claim between 23 and 24 percent of all votes cast in EU parliamentary elections, which are less than a week away.

Buoyant from its best-ever performance in French municipal elections in March, in which it conquered 11 city councils, the far-right FN has campaigned under the slogan “No to Brussels, yes to France.”

A partisan plague from TheLocal.fr:

Immigration in France: No need for ‘Mr Ebola’

As the National Front’s Jean-Marie Le Pen courts trouble by suggesting the Ebola virus could solve the immigration problem in France, the author of a new OECD report on immigration in Europe says it’s no longer even a significant phenomenon in France.

As expected, given that he is vying for re-election as a member of the European parliament on Sunday, Jean-Marie Le Pen, the controversial honorary president of France’s anti-EU National Front party voiced his opinions on immigration this week.

Le Pen, who has been convicted of hate speech on numerous occasions, could be up in court again after suggesting the deadly Ebola virus could solve the global “population explosion” and thus Europe’s “immigration problem”.

Tracking down an error with AFP:

Red faces as new French trains ‘too wide’ for stations

Cash-strapped France will have to trim back some 1,300 rail platforms at a cost of 50 million euros after realising a brand new fleet of trains are too big to fit its stations, rail operators admitted Wednesday.

The problem affects 182 regional trains supplied by French manufacturer Alstom and 159 from Canada’s Bombardier, due to come into service by 2016.

Two state rail bodies, the Societe Nationale des Chemins de Fer (SNCF) and the Reseau Ferre de France (RFF), acknowledged the embarrassing situation in a joint statement on Wednesday after it was revealed by satirical weekly Le Canard Enchaine.

Via TheLocal.fr, pimping for laundromats?:

Far-right mayor bans drying laundry in public

The newly elected far-right mayor of the French town of Beziers has once again laid down the law to residents. After imposing a curfew on teenagers and higher fines for dog waste, Robert Ménard has now banned them from drying their laundry on their balconies.

Robert Ménard the far-right mayor of the southern French town of Beziers is back in the headlines this week.

Ménard was only elected two months ago, with the support of Marine Le Pen’s National Front party, but no one can accuse him of putting his feet up once in office.

Off to Austria with TheLocal.at and action contemplated:

Third of Austrians in favour of ‘tax strike’

Some Austrian companies have started a kind of tax strike – by refusing to make some tax payments they want to put pressure on the government to make more savings.

A poll carried out by the OGM market research group, on behalf of the daily Kurier newspaper showed that a third of people asked were in favour of a tax strike and believed that tax money is being wasted.

Fifty-two percent of people thought a tax strike was not justified, while 33 percent thought it was. “Most of the population is not self-employed and view entrepreneurs as rich, because people think they have big companies. Envy plays a role. Nevertheless it’s noteworthy that 33 percent approve of the tax boycott,” OGM pollster Karin Cvrtila said.

Deflating with TheLocal.at:

Real estate bubble: ‘The hype is over’

  • Austria has experienced something of a real estate bubble in recent years, but some experts believe the market is now calming down.

Specialists from the Austrian Chamber of Commerce’s advisory group on real estate have said that while property costs increased significantly in 2013, current signs suggest that this year growth should be relatively flat, according to the Wirtschafts Blatt.

“While there continues to be a general upwards trend – in many regions the price increases have stopped, the hype is over,” real estate chairman Thomas Malloth explained.

In January, the Austrian National Bank (ÖNB) warned of the possibility of a real estate bubble, with prices in Vienna for selected apartments rising by 21 percent over the previous 12 months. Tenants have been complaining about rising rents, which seem to have been driven by speculative investors.

Spain next, and a hard times intolerance intolerance from  El País:

Spanish government asks state attorney to crack down on Twitter hate speech

  • Prosecutor warns of difficulty of tackling all online insults in generalized way
  • “Incitement to hatred” provision cannot be applied to all cases, she says

The initiative began a month ago with an Interior Ministry order to “clean out the web” that resulted in 21 arrests for glorifying terrorism. Some of the suspects had been asking for Basque terrorist group ETA to kill again and mocking the victims of its decades-long campaign.

But the crackdown on hate speech has taken on new urgency following the recent assassination of Popular Party (PP) politician Isabel Carrasco, which spawned an outbreak of messages from people celebrating the murder and calling for further killings of PP members.

This week, Jewish associations reported more than 18,000 offensive messages on Twitter after Israeli basketball team Maccabi Tel Aviv beat Real Madrid on Sunday to win the Euroleague title.

Lisbon next and a diktat from Berlin via the Portugal News:

Germany tells Portuguese – Get out or get a job

The Portuguese secretary of state for the communities acknowledged on Wednesday that the government was applying political pressure to avoid the approval of a law by the German CSU party on the repatriation of unemployed immigrants.

“We are following the situation directly through our embassies and hope the decisions that are taken are not going to excessively penalise the Portuguese”, José Cesário told Lusa News Agency.

The ‘Diário de Notícias’ newspaper said on Wednesday that the CSU, one of the parties in Angela Merkel’s coalition government, had put forward a proposal that immigrants who had been unemployed for between three and six months should be repatriated. The paper said the measure could affect more than 5,600 Portuguese who are in Germany without a job.

Off to Italy and another Bunga Bunga scandal from TheLocal.it:

Ex-Berlusconi MP probed over labour aide’s murder

Prosecutors in Bologna have opened an investigation involving the murder of Marco Biagi, a labour ministry adviser who was shot dead in 2002, after it was revealed that senior polticians, including Claudio Scajola, an-ex minister, may have been aware of the danger he was under.

Biagi was assassinated by the extreme-left Red Brigades as he made his way home in March 2012, shortly after Scajola, who was interior minister at the time, had taken away his police escort.

Scajola is currently in jail in Rome after being arrested earlier this month for allegedly helping Calabrian businessman Amedeo Matacena escape a five-year-jail term for mafia collusion conviction.

From ANSA, not in a humoring mood:

Don’t send ‘clowns’ to Europe – Renzi

  • Premier says PD represents ‘seriousness’

Premier Matteo Renzi appealed to the Italian people not to vote for “clowns” in Sunday’s European elections. The broadside by the head of the centre-left Democratic Party (PD) was aimed at comedian-turned-politician Beppe Grillo and his anti-estasblishment 5-Star Movement (M5S). The PD is top in most polls, but Grillo is confident his M5S, who are second in the surveys after capturing a stunning 25% of the vote in last year’s general election, can come first with a late surge.

“We don’t need shows and clownery in the European parliament, we don’t need to climb on the roof,” Renzi said on Italian radio referring to a recent M5S protest on the roof of the Italian Lower House. “We need seriousness, people who are well prepared and further Italy’s interests”.

Renzi also blasted the language used in the campaign by Grillo, who, among other things, suggested that the premier will suffer a political “lupara bianca” – a term used to refer to a mafia hit that leaves no trace of evidence – after the European elections.

ANSA again, and he’s makin’ a list:

Grillo calls for ‘people’s trial’ of system after EU poll

Web-based trial to nail blame for Italy’s ‘collapse’

Beppe Grillo, leader of the anti-establishment 5-Star Movement (M5S), on Wednesday called for putting politicians, industrialists and journalists “on trial” using an online system and popular vote among M5S members after European Parliament elections this month.

The comedian turned politician wrote on his blog that the aim of the Web-based “trial” was to “inform citizens about the theft and embezzlement of a system that led to the collapse of Italy” “Just as you can’t build on rubble, you can’t build a new Italy without clearing the land of those who have plundered, transforming the fifth (sixth?) industrial power into a desert,” Grillo said.

The often foul-mouthed protest leader announced “lists” of suspects would be created.

Bunga Bunga bloviation from Corriere della Sera:

Berlusconi Attacks “Killer” Grillo

Former prime minister says M5S leader “killed three friends in an accident. Watching this gentleman moralise upsets me”. Grillo replies: “He doesn’t even believe what he’s saying any more”

“Grillo is a convicted criminal, a killer”. The Forza Italia (FI) leader went on: “Grillo knows all about staying out of jail. He is guilty of killing three of his friends by ignoring a no entry sign. He got 14 months for multiple manslaughter”. Mr Berlusconi, speaking on the La7 TV talk show L’aria che tira, raised the election campaign stakes. His most direct thrust was: “He ought to have gone to jail but he got away with it. He shouldn’t be talking about that sort of thing. Watching this gentleman moralise upsets me. And he only used to do shows if he was paid cash. He was known for that”.

Mr Berlusconi went on: “He killed three friends, ignoring a warning that there was ice on the road. He managed to get out of the car but his three friends didn’t. They died. He was sentenced to 14 months in jail for multiple manslaughter”. Speaking to Enrico Mentana on La7’s Bersaglio Mobile programme, the FI leader added: “I realise there’s an election coming up but when Renzi compares me to Grillo and says we’re two sides of the same coin, he’s way off the mark”.

Beppe Grillo was quick to respond. The Five Star MoVement (M5S) leader said Mr Berlusconi was a “poor thing who doesn’t even believe what he’s saying any more. He’s talk show-hopping for the sake of his businesses, not the electorate”.

And a Grillo spawn stigmatizes the poor, via TheLocal.it:

Mayor plans to scrap dessert for poor kids

Only wealthy children will be given dessert with their school lunches, while those from poor families will go without, under plans drawn up by a mayor in central Italy.

The mayor of Pomezia, Fabio Fucci, has proposed the two-tier menu system in response to requests from a number of low-income families, Corriere della Sera said on Tuesday.

Under the plan, parents will be able to pick from two menus of different prices. The more expensive one will come with dessert, while children from poorer families will go without the sweet.

The move by the Five Star Movement (M5S) mayor has been met with ire in some quarters.

After the jump, the latest from Greece [including new bribery scandals], Russia strikes a massive deal, the Libyan coup intensifies, a Ukrainian election ultimatum, a bumper cr[h]ash crop in Libya, Brazilian World Cup blues, Argentine bankster woes and student discontent, a Venezuelan stalemate, the new Dirty Digger, a bankster blessing for India’s theocon winner, Thai uncertainty, Chinese labor loses and a Putin partnership, an Abenomics push in Japan, environmental woes, stolen baby brains [and not by zombies], and the latest chapter of Fukushimapocalypse Now!. . . Continue reading

Headlines: CorporoEconoEcoPoliFarce


Having lost a host of entries through a browser crash, we’re feeling touched by absurdity, and so we begin with this from Taiwanese Animators:

AT&T buys DirecTV for $48.5 billion: Monopoly Media Mergers Edition

Program notes:

AT&T announced it plans to buy DirecTV, the top US satellite TV operator, for $48.5 billion in an attempt to grow beyond an increasingly hostile cellular market.

The deal was announced on Sunday. AT&T said it is offering $95 per DirecTV share in a combination of cash and stock, a 10 percent premium over Friday’s closing price of $86.18. The cash portion, $28.50 per share, will be financed by cash, asset sales, financing already lined up and other debt market transactions.

If the deal is approved by US regulators, AT&T would add 20 million DirecTV customers to its paltry 5.7 million U-verse customers, plus another 18 million DirecTV customers in Latin America.

The Wire adds more, less theatrically:

AT&T Promises to Uphold Net Neutrality for Three Years if DirecTV Deal Goes Through

In the event the $48 billion AT&T-DirecTV deal closes, the new joint company is promising to uphold the current net neutrality rules for at least three years. This promise would be valid regardless of how the FCC vote on the issue goes later this year.

In their proposal for the DirecTV purchase, AT&T issued a list of commitments, which they are calling “benefits of the transaction.”  One of these “benefits” is the following:

Net Neutrality Commitment. Continued commitment for three years after closing to the FCC’s Open Internet protections established in 2010, irrespective of whether the FCC re-establishes such protections for other industry participants following the DC Circuit Court of Appeals vacating those rules.

In the event the FCC’s paid prioritization proposal passes, AT&T won’t actually participate in the potentially multi-million dollar scheme (if they keep their promise, that is.) This is also a major show of good faith to the FCC, which will have to approve the merger.

From the Guardian, a rare cause of a faint twinge of something approaching but not exactly qualifying as joy:

Credit Suisse pleads guilty to criminal charges in US tax evasion settlement

  • Bank is first in more than a decade to admit to a crime in US and will pay more than $2.5bn in penalties

Credit Suisse Group has pleaded guilty to criminal charges that it helped Americans evade taxes, becoming the first bank in more than a decade to admit to a crime in the US. It will now pay a long-expected fine of $2.5bn (£1.5bn).

“This case shows that no financial institution no matter its size or global reach is above the law,” said the attorney general, Eric Holder. He said the years-long investigation had uncovered evidence of an “extensive and wide-ranging” conspiracy to hide taxes from the Internal Revenue Service (IRS) and the bank’s involvement in it.

“The bank went to elaborate lengths to shield itself, its employees, and the tax cheats it served from accountability for their criminal actions. They subverted disclosure requirements, destroyed bank records, and concealed transactions involving undeclared accounts by limiting withdrawal amounts and using offshore credit and debit cards to repatriate funds. They failed to take even the most basic steps to ensure compliance with tax laws,” said Holder.

From Al Jazeera America, an unsurprising correlation:

Study: Student debt worst at universities with highest-paid presidents

  • Executives at 25 universities saw 14 percent higher salary increase than national average after 2008 recession

Student debt and the hiring of relatively low-paid adjunct faculty rather than full-time professors have grown fastest at public universities with the highest-paid presidents, a new report found.

University president pay has risen dramatically in the aftermath of the 2008 financial crisis, according to the report, which focuses on 25 state universities that pay their presidents almost double the national average. Released Sunday by the Institute for Policy Studies (IPS), a progressive Washington D.C.-based think tank, the study is called The One Percent at State U — referring to the financial gains made by executives after the 2008 recession.

Nationwide, between the fall of 2009 and the summer of 2012, average executive compensation at public research universities increased 14 percent to $544,544, according to the study

Another unsurprising correlation, via KCBS:

Inner City Oakland Youth Suffering From Post-Traumatic Stress Disorder

The Centers for Disease Control said 30 percent of inner city kids suffer from post-traumatic stress disorder (PTSD). The CDC said these children often live in virtual war zones. Doctors at Harvard said they actually suffer from a more complex form of PTSD.

Unlike soldiers, children in the inner city never leave the combat zone. They often experience trauma, repeatedly.

“You could take anyone who is experiencing the symptoms of PTSD, and the things we are currently emphasizing in school will fall off their radar. Because frankly it does not matter in our biology if we don’t survive the walk home,” said Jeff Duncan-Andrade, Ph.D. of San Francisco State University.

A cross-border legal beef from the Canadian Press, with that old “corporate person” free speech once again at issue:

Canada-U.S. meat labelling row hears free speech arguments

Canadian livestock producers were in an American courtroom Monday fighting against labelling requirements blamed for having devastated their exports to the United States.

The case revolves around the free-speech rights guaranteed in the First Amendment, one of the most sacrosanct provisions of the American Constitution.

Canadian and Mexican producers, and the U.S. partners they supply, argue that those speech rights are being violated by the requirement that they stamp country-of-origin labels on meat packaging.

On to Europe, with growth at the margin from TheLocal.st:

Europe’s far right expect election gains

Europe’s far-right is looking to overcome deep divisions and establish itself as a major player in Brussels after EU elections this week where it is expected to make significant gains.

With voters tired of a European Union handing down decisions from on high, parties like France’s National Front (FN), Britain’s UKIP and Austria’s Freedom Party (FPOe) are going strong in the polls ahead of the May 22-25 ballot.

But it might not be all plain sailing in the months to come.

Ireland next, and austerity once again victimizing its victims, via TheJournal.ie:

Two rape crisis centres are to close temporarily as cuts take hold

  • The services in Clare and Tipperary will be closed for at least a month because of a €120,000 shortfall.

TWO RAPE COUNSELLING services in the Midwest are to be temporaily closed because of a funding shortfall the service estimates at €120,000.

Rape Crisis Midwest has centres in Limerick, Clare and Tipperary but is to close the latter two services for a least one month to save costs.

The service provides confidential one to one counselling to survivors of rape and childhood sexual abuse and says that it helps about 80 people a week.

Cash flowing from one end of Eurasia to another, via TheLocal.no:

Chinese tycoon agrees to buy Norway land

The Chinese property billionaire blocked from buying a huge chunk of Iceland is reportedly close to buying up a 100 hectares of the scenic Lyngen coastline.

Huang Nubo, a Communist party member who spent ten years working in the country’s propaganda ministry, on Thursday agreed to buy the site, which has already received planning permission for a series of villas, from Ola OK Giæver Jr, a local landowner, pilot and businessman.

“I can promise you a new era for Lyngen municipality. I trust that Huang Nubo will create huge and positive financial ripples throughout the north of Norway,” Giæver jr said. “There is not a better capitalist than Huang.”

Sweden next, and one way to make homelessness vanish, the neooliberal version, via TheLocal.se:

Stockholm says no to ‘freakshow’ soup kitchen

Stockholm municipality has ruled that a soup kitchen which had served hearty broth to the city’s homeless for the past two years must move on due to the risk of the city square being “turned into a zoo”.

“Nazis can march freely and water is thrown on people begging, but to create a meeting place to challenge politicians and other people to actually do something is obviously very dangerous and terrible,” Elin Jakobsson at Soup Kitchen Stockholm said in response to the decision via social media.

The organization has been active for the past two years and works both as a source of food and a monthly meeting place for the city’s homeless population. The soup kitchen requires a police permit and on Monday its application for renewal was rejected.

But it can be carried to far, of course, via TheLocal.se:

Shopkeeper charged over beggar dousing

A Gothenburg shopkeeper has been charged over the drenching of a beggar with water in front of his shop in March, an incident which sparked an outraged response on social media.

The man was charged on Monday with two counts of harassment.

The first was for an incident on March 10th when he threw a bucket of warm water at his own Hemköp window, effectively soaking a beggar sitting nearby. The second charge was for the day after, when the man did the same thing with a bucket of cold water.

On both occasions, the woman begging by the windows was drenched, and the prosecutor argued on Monday that both acts were carried out with intent.

From GlobalPost, going medieval:

In Germany, no means yes

  • A regressive definition of rape highlights the country’s stubbornly traditional attitudes toward women.

No means yes, at least in this country.

When a rape court in the state of North Rhine-Westphalia acquitted the alleged rapist of a 15-year-old girl in 2012, women’s rights advocates were outraged.

The ruling found that saying no, or even screaming it, wasn’t enough to merit rape charges. Now findings from a new study indicate that case was hardly unique, despite a European initiative to step up efforts to stop violence against women.

The number of German rape cases ending in convictions has plummeted from 22 percent to 8 percent over the past 20 years, according to a study released by the Hanover-based Criminological Research Institute of Lower Saxony

A suggestion for a foreign visitor from TheLocal.de:

Mayor urges Erdogan to cancel German trip

German politicians called on Turkish Prime Minister Recep Tayyip Erdogan on Monday to cancel an upcoming pre-election appearance to Cologne in the wake of a deadly mine disaster.

Amid mounting anger within Turkey over his response to last week’s coal mine blast in which 301 died, Erdogan faced condemnation and calls to cancel his visit next Saturday from across the political spectrum in Germany.

Erdogan is due to address supporters in Germany, where three million Turks or people of Turkish origin live, with a visit to the western city of Cologne. For the first time, some 2.6 million Turks living abroad, including 1.5 million in Germany alone, will be able to cast their votes in the August presidential vote in which Erdogan is expected to stand.

More from Deutsche Welle:

Germany urges restraint ahead of Erdogan’s planned speech in Cologne

The German government has urged Turkey’s prime minister to exercise restraint when he visits the country on the weekend. This followed calls from some German politicians for Recep Tayyip Erdogan to cancel his visit.

Chancellor Angela Merkel’s spokesman, Steffen Seibert told reporters in Berlin on Monday that as the prime minister of a “really close and important partner” nation, Erdogan was welcome in Germany, where he plans to deliver a speech to local Turks on Saturday.

At the same time, though, Seibert said the German government expected Erdogan to choose his words carefully at what he described as a “difficult” time, given the political tensions in Turkey in light of the recent mining disaster and the fact that it comes one day before the European elections.

Seibert said in light of this, the government expected Erdogan to deliver a “sensitive, responsible” speech, when he addresses thousands of his fellow countrymen and women at an indoor stadium in the western city of Cologne.

Another bankster busted, from TheLocal.fr:

Rogue trader Kerviel imprisoned in France

The former trader Jérome Kerviel was finally behind bars in France on Monday after being picked up by French police at midnight. Kerviel is due to start a three year prison sentence over his role in losing former employers Société Général €5 billion through high-risk trading.

French police arrested rogue trader Jérôme Kerviel at midnight on Sunday, shortly after he had crossed the border from Italy into France on his walk home from Rome to Paris.

A local prosecutor then announced on Monday morning that Kerviel was behind bars in the Riviera city of Nice.

TheLocal.fr again, with some reassurance for the poorest:

French income tax cuts for poorest to last to 2017

A plan to exempt France’s poorest households from income tax will not just be a one-off for this year, the government finance minister said this week. The income tax breaks will actually apply until 2017, the minister Michel Sapin said.

There was more cheer for the more hard-up tax payers in France on Monday when the finance minister Michel Sapin announced a government plan to apply the recently revealed breaks until 2017.

Sapin’s pledge comes days after French Prime Minister Manuel Valls made the headlines by announcing that the government plans to exempt 1.8 million households from the income tax burden.

From El País, Spanish repos rising:

Home repossessions up 10% in 2013

  • Spanish lenders took back nearly 50,000 properties last year
  • Figures released by Bank of Spain suggest more borrowers are handing back keys in payment

Spanish lenders repossessed 49,694 homes from defaulting borrowers in 2013, a 10% rise from a year earlier, figures released on Monday by the Bank of Spain show.

Of these, 38,961 were first residences, according to statistics provided by the banks. The vast majority of properties were empty at the time of repossession.

Meanwhile, the proportion of cases involving dation in payment, in which borrowers in arrears hand over the keys of the property to the lender that approved the mortgage to cancel debt obligations, reached 32.5% of all repossessed homes.

Pimping the rich fails to enrich, via TheLocal.es:

Spain’s ‘golden visa’ scheme fails to shine

Just 72 people have signed on to a controversial Spanish ‘visa for cash’ scheme which grants automatic Spanish residency to people who buy a property worth at least €500,000 ($685,000).

The so-called ‘golden visa’ scheme has reaped only small rewards, according to Spain’s El País newspaper.

Introduced in September 2013, the law gives foreigners who invest large sums in Spanish property, public debt and projects of general interest the right to reside in Spain.

And from thinkSPAIN, another way California is like Spain:

Worst drought in 150 years hits southern and eastern Spain

A DROUGHT of the scale not seen in over a century and a half is threatening water resources in Spain’s south and east after the lowest rainfall on record over the autumn, winter and spring.

The worst-hit provinces are Valencia and Alicante where, following a sudden and unprecedented gota fría or Mediterranean ‘monsoon’ in late August, it has barely rained between September and June.

Murcia, Albacete, Cuenca, Teruel, Cádiz, Málaga, Jaén and Almería are also at high risk – the only provinces in Andalucía which are safe are Granada, Sevilla and Huelva.

From El País, and how [to employ a sexist term] broad-minded of them:

Spanish conservatives forgive sexist remarks by their European contender

  • Women at Popular Party rally play down Arias Cañete’s views about male “intellectual superiority”

It was just a minor “slip.” Popular Party (PP) voters are writing off as unimportant statements about the intellectual superiority of men made last week by the party’s top European candidate, Miguel Arias Cañete, despite leaders’ fears they might have jeopardized his chances of winning.

Several women who attended a Sunday rally by Prime Minister Mariano Rajoy and PP secretary general María Dolores de Cospedal in Cuenca sought to play down the controversy over the sexist remarks.

During a televised debate with Elena Valenciano, his Socialist rival in next Sunday’s European elections, Arias Cañete claimed that he had held back from serious intellectual confrontation because “if you abuse your intellectual superiority, you end up looking like a sexist intimidating a defenseless woman.”

Italy next and a wiseguy lipoff lambasted via ANSA.it:

Renzi hits back after Grillo mafia jibe

  • Premier says PD marks real face of change

Premier Matteo Renzi hit back Monday after Beppe Grillo, the leader of the anti-establishment 5-Star Movement (M5S), used a Mafia jibe to suggest his political career was close to ending as the campaign for Sunday’s European elections grew increasingly venomous.

Renzi’s centre-left Democratic Party (PD) is top in most polls, but Grillo is confident his M5S, who are second in the surveys after capturing a stunning 25% of the vote in last year’s general election, can come first with a late surge.

“Renzie has been hired on a temporary project to win the European elections, but he’ll lose them,” Grillo wrote Monday on his popular blog, using a nickname that refers to the premier’s alleged attempt to come across as cool like TV’s Fonzie.

TheLocal.it notes another grime number:

Italy’s employment rate is one of Europe’s worst

  • The Italian employment rate fell to 59.8 percent last year, one of the worst in Europe, according to figures released on Monday by the European Commission.

Fewer than 60 percent of Italians aged 20 to 64 were employed in 2013, far below the EU average of 68.3 percent.

The new figure sees Italy slip to figures not seen for over a decade, with last year’s rate just higher than the 59.2 percent recorded in 2002. Between then and 2008 the situation steadily improved for workers in Italy, until the global financial crisis struck and led to a steady decline in employment.

According to the European Commission data, Italy now has one of the worst employment rates in Europe, just slightly higher than Spain’s 58.2 percent. Only Greece, with 53.2 percent, and Croatia (53.9 percent) fared worse in 2013.

ANSA.it demands:

Napolitano says EU must help on migrants

  • Italy is main entrance for flow that’s creating emergency

President Giorgio Napolitano said Monday that the European Union must provide Italy with greater help in coping with a massive wave of migrants arriving from North Africa. “Today we are faced with the absolute need to achieve a concrete, operative model of cooperation with the European Union,” Napolitano told Italian officials at the United Nations in Geneva, ANSA sources said. The Head of State added that while migrant arrivals had caused an emergency for all of southern Europe, Italy is “the main entrance”. There has been friction between Rome and Brussels after two migrant boat disasters south of Italy last week in which around 60 people are confirmed dead and many more may have lost their lives.

Rome says the EU is not doing enough to support it after it launched the humanitarian Mare Nostrum (Our Sea) search-and-rescue border operation in October, after roughly 400 migrants drowned in two wrecks off the coast of Sicily.

On Wednesday Premier Matteo Renzi accused the European Union of looking the other way as Italy struggles to cope with the crisis.

After the jump, fascinating electoral news from Greece, the latest from the Ukraine, Libyan turmoil, pre-World Cup jitters in Brazil, polio rising, a Thai takeover, Chinese real estate developments, Japanese Trans-Pacific intransigence, melting polar caps, other environmental woes, and the latest in Fukushimapocalypse Now!. . . Continue reading

India’s winners: Hindu fundies and neoliberals


The Indian vote is important in so many ways, given the simmering regional tensions we’ve dubbed the Game of Zones.

We begin today’s coverage with a another video report from The Real News Network featruing a Sharmini Peries interview of Nagesh Rao, a Colgate University lecturer of university studies, a post-colonial studies scholar, and an antiwar activist:

It’s a Decisive Victory for the BJP in India.

From the transcript:

RAO: Well, to start with, I think we have to see that this is a very difficult time for most Indians. Going into this election, the media and the corporate sector in India had already anointed Narendra Modi prime minister well before the voting had begun. And the candidate of corporate capital and of Hindu nationalist right wing movement is now poised to become prime minister.

As you probably know, Narendra Modi is, of course, most notorious for the fact that he at the very least didn’t do anything to stop the pogroms against Muslims in Gujarat in 2002, and he’s seen as a very divisive and authoritarian figure for many of these reasons.

PERIES: Nagesh, while Modi is–you know, his historical record has been made very public and attacked for his Hindu fundamentalism and inciting riots in terms of his history, he however in this particular election comes out not talking about any of that but talking about real issues that concern the people, like jobs. Yes?

RAO: Mhm, yes, except that the way he’s talked about these real issues has been in terms of so-called development, looking at the Gujarat model, as it’s been called. As chief minister of Gujarat, he claims to have developed Gujarat in a way that no other state has in India, and he hopes to implement that same model across the country.

The thing to recognize is that Modi’s sort of reinvention, his reinvention as a developmentalist, as someone who’s going to focus primarily on jobs, the economy, and so on and so forth, has been fairly recent in origin. Because of his success in Gujarat, sections of corporate capital anointed him precisely because they want to see all the barriers towards capital accumulation in India lifted. So further neoliberalism, further privatization, further deregulation, this is what lurks behind the model of development that’s known as the Gujarat model.

That said, that said, I think it’s important to recognize that the communalist, fundamentalist element of Modi’s being wasn’t entirely forgotten during this campaign, and he and his allies have done as much as they could to both emphasize this Gujarat model of development on the one hand, but also kind of Hindu nationalism and fundamentalism on the other.

And for more detail, we’ve extracted our Indian electoral headlines for of daily [usually] collection of political news headlines, revealing an array of significant consequences.

First, from the Times of India:

Modi to have free hand in both govt and party

Amid fierce lobbying for ministerial berths by BJP aspirants, RSS on Sunday claimed that it will not interfere with government formation, in a clear signal that Narendra Modi has a free hand in picking his team and that anxious seniors need to settle their claims with the PM-elect rather than bank on the Sangh to intercede on their behalf.

Articulating the RSS position, Sangh leader Ram Madhav said, “Sangh has not given any guidelines to BJP after its historic victory in Lok Sabha polls, nor to Modiji… RSS never keeps any remote control to perform any role in politics and government.”

However, Madhav said the Sangh may give suggestions, and expects the government to be sensitive to the Parivar’s ideological orientation. “People’s representatives who won in Lok Sabha polls are aware of the Sangh’s ideology and they know how to do work and take forward its ideology. There is no way that RSS would interfere in government’s functioning and politics. However, if required, Sangh may give suggestions,” he said.

CNNMoney covers the market reaction:

Modi win boosts Indian markets

India’s stock market surged Friday after early election results suggested a sweeping victory for Narendra Modi and the pro-business Bharatiya Janata Party.

Investors reacted to the news with enthusiasm, and Mumbai’s Sensex index advanced by more than 5% in early trading before paring gains to close 0.4% higher. The rupee strengthened by more than 1% and hit a new 10-month high against the dollar.

The prospect of a Modi-led government has helped boost India stocks by almost 13% since the start of the year. The rupee has responded too, clawing its way back from a dismal performance in 2013.

From the Economic Times, more evidence that the rich were the real winners, though by way of perspective, 10 million rupees amounts to a mere $170,740 — but in India, that’s not exactly chump change:

21 out of 26 candidates elected to Lok Sabha from Gujarat are crorepatis

Out of 73 crorepati candidates who had contested either on their respective party’s ticket or as independent in the Lok Sabha polls at the 26 seats of Gujarat, 21 BJP candidates have emerged victorious.

80.76 per cent candidates, who are elected as the Member of Parliament on 21 seats have the assets of more than one crore to around 80 crores.

The crorepati candidates who have registered victory in the 16th Lok Sabha polls include big names like country’s ‘to be prime minister’ Narendra Modi, deputy PM and veteran leader LK Advani and bollywood actor Paresh Rawal.

And USA TODAY foresees an invasion [or an exodus, seen from this side of the Pacific]:

India’s new party election could lure U.S. firms

The sweeping victory of India’s opposition party and its pro-business leader will likely create a more stable, tax-friendly investment climate for U.S. companies, analysts say.

On Friday, the Bharatiya Janata Party (BJP) and its allies won more than the 272 seats needed for a majority in Parliament, pushing the long-dominant Congress party from power and setting the stage for Hindu nationalist Narendra Modi to become the next prime minster of the world’s largest democracy.

“This is really historic,” says Milan Vaishnav, an India expert at the Carnegie Endowment for International Peace, noting it’s the first time since 1984 that India will have a single-party majority government. “It’s going to create a certain sense of stability … U.S. companies are very excited,” he says, adding Modi will govern as a “pragmatist who wants to show India is ‘open to business’.”

Headlines: Pols, lies, eCons, and polluters


Today’s tales from the worlds of economics, politics and the environment — plus added Fukusihmapocalypse Now! — opens with hope for modest relief for some via the Guardian:

Sallie Mae and Justice Department in $60m deal over military student loans

  • US government had claimed the student loan giant imposed interest rates on service members above the 6% allowed by law

Student lender Sallie Mae has reached a $60m settlement with the Justice Department to resolve allegations that it charged members of the military excessive interest rates on their student loans, the federal government announced Tuesday.

The deal settles a government lawsuit that asserted the student loan giant violated the rights of service members by imposing interest rates above the 6% permitted by federal law and by improperly seeking default judgments against them. Separately, the Federal Deposit Insurance Corporation announced a settlement of $30m in restitution arising from allegations that the company maximized consumer late fee charges, as well as $6.6m in civil penalties.

The lawsuit was the Justice Department’s first against owners and servicers of student loans for violating rights of service members. The settlement has been filed in federal court in Delaware and is awaiting a judge’s approval.

From the New York Times, business as usual:

Citigroup Says It Has Fired 12 in Mexico Over Fraud

Citigroup disclosed on Wednesday that it had fired a total of 12 employees in Mexico, including some senior executives, in connection with a $400 million fraud involving a Mexican oil services company.

In an internal memorandum to Citigroup employees, the bank’s chief executive, Michael L. Corbat, disclosed the terminations of the employees, including several managing directors, two of whom were business heads at the bank’s Banamex unit.

“Additionally, before our investigation concludes, we expect that several other employees, both inside and outside of Mexico, may receive forms of disciplinary action as well,” Mr. Corbat said in the memo.

From the Guardian, more business as usual:

Banks return to risky business: lax standards and subprime loans

  • Big banks like JP Morgan have rewired troubling, familiar tactics as they scrounge for profit in a difficult market

With business lending sluggish and mortgage lending slumping, Wells Fargo has decided it can cut those credit standards. Last month, it raised eyebrows by cutting the minimum credit score required to qualify for an FHA mortgage. It’s also making a big push into another area of lending notorious for poor lending standards: auto loans. Forget subprime mortgages; by the end of 2013, Wells was the second-biggest subprime auto lender in the country.

At least we’re all alert to the risks tied to lending, thanks to the vivid memories of 2008. The other side of the banking business is how they manage their deposits, and the quest to replace missing profits from this part of the enterprise is much less obvious to the casual observer. Nonetheless, analyst Mike Mayo says it’s this that keeps him awake at night far more often than worrying about stupid lending practices. “We haven’t had enough loan growth yet to cause a big problem.”

Specifically, Mayo frets that bankers are too complacent about whether depositors will stick around in a rising interest rate environment – and how much they’ll have to pay out in interest rates to hang on to those deposits. Then, too, there’s the question of what the banks are doing with all those deposits in the meantime.

From the Guardian again, the elite indulges:

Christie’s racks up $745m in one night – and the bubble keeps inflating

This week’s mega-auctions are once again reaching obscenely high prices, with a Barnett Newman selling for $84.2m and a Bacon triptych close to that. Why is there no sign of a crash?

Christie’s evening sale racked up a wacky, near-incomprehensible $745m, the highest total in history for a single sale – smashing past the house’s own high estimate of $500m, and beating November’s $691.6m sale, whose own Bacon, Three Studies of Lucian Freud, set a record (in nominal terms) for the priciest painting ever. The sale established new record prices for 10 artists, including Newman, Alexander Calder, and Joan Mitchell – who became the most expensive woman at auction for a messy blue abstraction from 1960.

Boggling enough on its own, the $744m sale came just a day after the end of Frieze New York, where untold millions changed hands, and on the heels of Christie’s own warm-up auction highlighting the “gritty, underbelly-esque side of contemporary art,” a rather ludicrous phrase to describe $134.6m worth of safe, predictable painting and sculpture. And collectors are set to do it all again Wednesday, when Christie’s rival Sotheby’s mounts its own evening sale.

“We are not in a bubble,” Christie’s CEO Steven Murphy insisted after the sale on Monday. To which the correct response is the one Mandy Rice-Davies gave during the Profumo scandal: “He would, wouldn’t he?” All the same, here are four theories on why the bubble keeps inflating, and why it may be a while before it bursts.

From the Los Angeles Times, a light frost in Hades?:

Howard Jarvis group won’t oppose bill to close Prop. 13 loophole

The staunchest defender of California’s politically untouchable property-tax initiative, Proposition 13, has tacitly approved a bid to change the landmark law for the first time since voters passed it 36 years ago.

The Howard Jarvis Taxpayers Assn., the anti-tax group named for the champion of the 1978 measure, dropped its opposition to a bill that would clamp down on companies avoiding higher property taxes when they buy commercial real estate by using a corporate ownership maneuver.

“I think that the withdrawal of our opposition, at least for now, suggests that we don’t see this as a direct threat to Prop. 13,” said Jon Coupal, president of the Jarvis group, whose crusade for the law sparked a nationwide tax revolt.

From BBC News, a story to shake you up:

Water extraction for human use boosts California quakes

Extracting water for human activities is increasing the number of small earthquakes being triggered in California.

A new study suggests that the heavy use of ground water for pumping and irrigation is causing mountains to lift and valleys to subside.

The scientists say this depletion of the water is increasing seismic activity along the San Andreas fault.

Another California water story, this time from the East Bay Express, reporting on Governor Jerry Brown’s Bay Delta Conservation Plan [BDCP]:

The Water Tunnel Boondoggle

  • Experts say the eye-popping costs of Governor Brown’s plan to build two giant water tunnels far outweigh the financial benefits. And taxpayers may be left holding the bag.

The project — along with the costs of mitigating the damage wrought by it — also promises to be hugely expensive. Two water agencies — the Westlands Water District, which services about seven hundred farms in a vast strip of desert in the western San Joaquin Valley, and the Metropolitan Water District, which supplies 19 million Southern Californians with water — plan to cover the majority of the costs of the tunnels, an estimated $15 billion, along with any economic damage they cause to the Delta.

But even as the project’s public comment period draws to a close next month, the state has yet to develop a clear financial plan for the tunnels. Moreover, the relatively few financial facts that do exist are hotly contested. The Department of Water Resources, for example, often states that the entire plan will cost a total of $25 billion, yet many economists think that, when interest on the bonds is factored in, the true figure will run closer to $70 billion.

In terms of benefits, state officials say the tunnels will generate an overall net gain of roughly $5 billion for California’s economy. But other water experts contend the plan could actually result in an annual net loss of about $100 million a year for water contractors backing the project.

From the Los Angeles Times, more ominous signs of a deadly summer to come in the Golden State as a record drought continues:

San Diego County fires: ‘It’s like a scene from Armageddon’

Brush fires broke out in more than half a dozen spots in northern San Diego County and spread at a dangerous pace as hot, dry, erratic winds, backed by record temperatures, raked Southern California for a second day Wednesday.

The fires forced evacuations of schools, businesses, homes, a mobile-home park and Cal State San Marcos, along with causing massive traffic jams and stretching firefighting resources almost to the breaking point.

The most destructive of the blazes was the Poinsettia fire in Carlsbad, which burned several hundred acres, hopscotching between pricey neighborhoods near brushy canyons.

And another faint hope for reform from within via the Guardian:

Google investors press for code of conduct on tax

Proposal by group of activist investors will be voted on at annual shareholder meeting and is opposed by Google board

A group of activist investors are calling on other Google shareholders to press the company to adopt a code of conduct on tax that would bring its corporate structures back in line with its “Don’t be evil” motto.

“A set of principles to address misalignments between Google’s tax strategies and its commitments to employees, communities, shareholders and the environment would help protect long-term value,” they argue in a proposal to be voted on at Google’s annual shareholder meeting on Wednesday.

The proposal has been made by Domini Social Equity Fund, which has close to $1bn of assets, and five other investors in the internet firm. It is opposed by the Google chairman, Eric Schmidt, and his board.

From the Register, surrendering to the corporate tracking imperative online:

Mozilla agrees to add DRM support to Firefox – under protest

  • ‘We don’t like it, but we have to use it’

Mozilla has announced that it will add Encrypted Media Extensions (EME) for digital rights management into a future build of Firefox, even if the organization disagrees with the technology on principle.

The World Wide Web Consortium (W3C) is to add EME into the specifications for HTML5 at the behest of Microsoft, Google, and Netflix. Sir Tim Berners-Lee supports the move, but Mozilla had been objecting to the plans as technically unnecessary. However, it has decided to cave.

“We have come to the point where Mozilla not implementing the W3C EME specification means that Firefox users have to switch to other browsers to watch content restricted by DRM ,” said Chief Technology Officer Andreas Gal.

Opening shots from an academic battle from USA TODAY:

For-profit colleges, student advocates lobby Obama

As the Obama administration prepares to establish new rules governing for-profit colleges later this year, student advocates and the career college industry are waging a fierce battle to shape the coming regulations.

Stakeholders on both sides of the debate are ramping up their push on the administration just as the public comment period on a proposed “gainful employment” regulation is set to close May 26.

Under the proposal that the administration unveiled in March, colleges would have to demonstrate that graduates’ debt load on average does not exceed 30% of their discretionary earnings or 12% of their total earnings.

And another national shame, reported by former Secretary of Labor Robert Reich in the UC Berkeley Blog:

How the right wing is killing women

According to a report released last week in the widely-respected health research journal, The Lancet, the United States now ranks 60th out of 180 countries on maternal deaths occurring during pregnancy and childbirth.

To put it bluntly, for every 100,000 births in America last year, 18.5 women died. That’s compared to 8.2 women who died during pregnancy and birth in Canada, 6.1 in Britain, and only 2.4 in Iceland.

A woman giving birth in America is more than twice as likely to die as a woman in Saudi Arabia or China.

And another national shame, via The Contributor Network:

REPORT: Children as Young as 7 Working in US Tobacco Fields

  • An international rights group is pushing the federal government and the tobacco industry to take further steps to protect children working on U.S. tobacco farms.

A report released Wednesday by Human Rights Watch claims that children as young as 7 are sometimes working long hours in fields harvesting nicotine- and pesticide-laced tobacco leaves under sometimes hazardous conditions. Most of what the group documented is legal, but it wants cigarette makers to push for safety on farms from which they buy tobacco.

Human Rights Watch details findings from interviews with more than 140 children working on farms in North Carolina, Kentucky, Tennessee and Virginia, where a majority of the country’s tobacco is grown.

New enterprise struggles from the New York Times:

The Bud Light-ification of Bud

There’s a pressing economic reason for the pot industry to get better if it is to survive, aside from its formidable legal challenges. The plant is relatively cheap and easy to grow, and not complicated to process either. Left to the whims of the open market — meaning ignoring taxes and regulations — the price of a joint could plummet to the price of a tea bag or a packet of sugar. So how will investors help the market mature while still making money?

The market for marijuana is nothing like the market for corn or wine or tobacco — at least not yet — and the reasons start in the ground: Marijuana growing and processing is downright bush-league compared to modern American agribusiness. Much of the pot produced in the United States still comes from illegal or semi-legal grow sites, even given the surge of production and processing in states with recreational or medicinal laws. And strains remain understudied and underanalyzed, compared with the wheat in your cereal or even the marigolds in your garden.

The inefficiencies continue to pile up after the harvest. Marijuana has to be cured, then trimmed, before it is sold, and much of this work is still done by hand. Workers use scissors to cut away tough outer leaves and expose the smokable part of the plant. It’s a labor-intensive process, the kind that in other instances is completed by a machine, like a thresher or a cotton gin.

And from the Japan Daily Press, still time to resist:

U.S. sees no conclusion to Trans-Pacific Partnership negotiations anytime soon

The stalemate is still on as the nations included in the Trans-Pacific Partnership are not expecting a conclusion to be met in the negotiations anytime soon. With a ministerial meeting happening in Singapore this month, members of what will be the world’s biggest free trade deal are yet to finalize the deal as both Japan and the United States, both key economies in the deal, failed to reach a conclusion on the negotiations last month.

While many expected progress to happen when US President Barack Obama himself went to Japan last month to discuss this, many were disappointed to learn that further talks are needed to come to a final agreement. The deadlock remains to be because of Japan’s refusal to give up tariffs on key products such as farming produce and automobiles, both the bread and butter of the Asian nation. This has affected widely the negotiations of the 12-nations included in the TPP as they wait for the final outcome of the talks between Japan and the U.S. The countries included in the TPP will meet in Singapore this week to give updates regarding other talks. They are expected to outline other details including regulations on labor, intellectual property and the environment as soon as the deal has been ironed out.

For our first European story, a plaintive pontifical plea from ANSA:

Pope condemns ‘massacre’ of migrants at sea as ‘shameful’

  • Francis asks for prayers for people fleeing homelands by boat

Pope Francis on Wednesday condemned the “massacre” of desperate migrants who are killed in boat disasters on the Mediterranean Sea as they flee their homelands for a new life in Europe. During his weekly general audience, the pope said it was “shameful” that thousands of migrants are killed on the seas between North African and the southern borders of Italy.

Shortly before he spoke, police in southern Italy said they had arrested two alleged human smugglers who authorities say deliberately caused a boat carrying as many as 400 migrants to sink off the coast of Libya Monday to induce an Italian sea rescue.

So far, 17 have been confirmed dead and more than 200 rescued but as many as 200 more are still missing.

Next, via EUbusiness, another hint of things to come:

Eurozone industrial output slips back in March: Eurostat

Eurozone industrial output fell in March, official data showed on Wednesday, consistent with recent data showing the economic recovery to be patchy so far.

Industrial output in the 18-nation eurozone dropped 0.3 percent in March compared with the figure for February when it gained 0.2 percent, the Eurostat statistics agency said.

Compared with March 2013, eurozone industrial output was down 0.1 percent, after posting a year-on-year gain of 1.7 percent in February.

From Europe Online, another form of resistance to the austerian imperative:

Brussels expects stronger resistance to austerity in next EU assembly

The European Commission believes that it will be harder to get the European Parliament to approve austerity legislation after this month’s elections, internal documents seen by dpa showed Wednesday.

The European Union’s executive arm acknowledged that based on polling trends, the staunchest backers of recent budget discipline reforms, the conservative European People’s Party (EPP) and Alliance of Liberals and Democrats for Europe (ALDE), will be “substantially weakened.”

“Some of the winning coalitions” that supported reforms in the outgoing Parliament, which had “the EPP and ALDE at their core,” are likely to “no longer be sufficient to reach a majority” in the next EU assembly, according to an analysis by the commission’s economic and financial department.

EurActiv raises an objection:

Norway accuses Apple of breaching EU consumer law

Apple’s iCloud service violates European law by giving itself the right to change its terms and conditions at any time, without notifying its customers, according to a complaint lodged 13 May by the Norwegian Consumer Council.

The council, a government agency, earlier published a study accusing Apple iCloud’s terms of service of violating consumer rights and privacy before the complaint to Norway’s Consumer Ombudsman.

The unfair practice complaint is based on the EU’s directive on unfair terms in consumer contracts. Because people often store important information in the cloud, such as documents and photos, it is particularly important they understand the contract, the council said.

On to Britain and xenophobic fears fail to materialize, via Sky News:

East European Migrant Influx Fails To Emerge

The number of migrants from Romania and Bulgaria has fallen since border controls were lifted but rose over the long-term.

The number of Romanians and Bulgarians working in the UK has fallen by 4,000 since transitional controls on immigration were lifted on January 1.

Figures from the Office of National Statistics show 140,000 people born in one of the two countries were employed between January and March this year.

That is down from 144,000 between October and December, suggesting concerns about mass immigration following the New Year have been unfounded.

And some positive numbers from BBC News:

UK unemployment rate falls to five-year low

The number of people out of work in the UK fell by 133,000 to a fresh five-year low of 2.2 million in the three months to March, official figures show.

The jobless rate also fell to a five-year low of 6.8%, the Office for National Statistics (ONS) said.

The number of people in work rose to 30.43 million, the highest since records began in 1971, helped by a rise in self-employment. Average earnings in the three months to March were up 1.7% from a year earlier.

But other numbers hint of another reality, via the Independent:

Anger as Employment Minister Esther McVey denies food bank use is linked to welfare reforms

Charities and politicians have reacted with anger to a claim by the Employment Minister that the dramatic rise in the number of people using food banks has nothing to do with the Government’s welfare reforms.

In a letter to the Scottish government, Esther McVey said “the rise in food banks predates most of the welfare reforms this Government has put in place”, adding that there was “no robust evidence linking food bank usage to welfare reform”.

Figures from the Trussell Trust, Britain’s biggest food bank provider, have shown that demand has increased by more than 300 per cent in the past year.

Sky News hints at a bankster victory:

Banks Warn Regulator On ‘Illegal’ Bonus Rules

Bank of England proposals to toughen bank bonus rules could be legally unenforceable, a document obtained by Sky News warns.

New rules that would force bankers to wait more than a decade to get their hands on bonuses would breach “the principle of natural justice” and leave lenders exposed to costly legal challenges, a trade body has warned.

In a document obtained by Sky News, the British Bankers’ Association (BBA) argued that plans to apply clawback provisions retrospectively would be illegal in Brazil, France, Germany and Mexico, countries in which UK-based lenders such as HSBC have a substantial presence.

The BoE’s proposals would force banks to reclaim variable compensation from senior employees for up to six years after it has been handed over and spent.

On to Norway and trepidation from TheLocal.no:

Norway slashes growth forecast on oil slowdown

Norway’s government on Wednesday slashed its growth forecast for this year, citing a slowdown in spending by the key oil sector in the Nordic country.

In a revised budget the government said the Norwegian economy is now forecast to grow by 1.9 percent in 2014, compared to the 2.5-percent increase expected in the original budget submitted last November.

This forecast concerns the country’s “mainland” GDP, which leaves out fossil fuels and maritime transport and is preferred as an indicator in Norway
since it excludes the strong cyclical variations related to oil, one of the country’s main exports.

However the purchase by the oil sector of goods and services is included in the country’s “mainland” GDP calculation, and the finance ministry expects this to stabilise then decrease.

Hypocritical criticism of the day award goes to. . .Well, you get the idea. And imagine if the U.S. had the same priorities as one of the happiest nations on earth. From TheLocal.se:

‘Swedes prioritize welfare and jobs above security’

No one doubts the Swedes’ ability to fight, but they do doubt Nato-ambivalent Sweden’s commitment to helping its neighbours, argues former US defence attaché to Sweden Bruce Acker.

In the wake of Russian annexation of Crimea, the Swedish defense debate has intensified over the nature of its security structures and partnerships. The Swedish solidarity declaration of 2009 is frequently criticized for being unresourced and therefore weak:

On to Austria and a slowdown from TheLocal.at:

Verbund shuts five power plants

Verbund, Austria’s leading electricity company, is mothballing five power stations to cut costs.

The company said it would temporarily decommission several combined cycle gas-fired power plants in Austria and France, including the 848-megawatt Mellach power station that was commissioned only three years ago.

Additionally, a coal-fired power plant in Dürnrohr and an oil-fueled plant in Styria will be closed, the company added.

The reason for the closures is the “massive disruption in the European electricity market” and “sector-wide economic pressures”, Verbund said. It hopes the restructuring will lead to “lasting economic improvements”.

TheLocal.at again, with a shortfall:

Austrian army ‘going broke’

The Austrian army is in serious financial trouble – so much so that regiments can’t afford fuel and soldiers are forced to march on foot.

Defence Minister Gerald Klug (SPÖ) has said that with its current budget the army “is no longer financially viable”.

His staff have done an analysis of the army’s current saving plan and found that by autumn it won’t even be able to afford its fuel bill.

And a good use for a house linked to a murderous xenophobe extraordinaire from TheLocal.at:

Hitler’s house to become migrant centre?

A long-running debate over the future of the house where Hitler was born finally appears set to be resolved.

The Renaissance-era structure, located near the central square of the picturesque town of Braunau in Upper Austria, is considered prime real estate.

At a recent ‘Birthplace Summit’, held at the Interior Ministry in early May, the house’s current owner and representatives from Braunau met with Austria’s Interior Ministry to discuss the fate of the controversial building.

For decades however, the shadow of Adolf Hitler – its most infamous son – has hung over the former guest house, creating a constant headache for Braunau’s administration.

On to Spain with thinkSPAIN and political provocation:

Mock ‘abortion package tour’ travel agency launched in protest over Spanish law reform

CAMPAIGNERS fighting the proposed restrictions on abortion announced by Spain’s minister of justice have set up a spoof travel agency offering trips to Europe for women wishing to terminate a pregnancy.

Dubbed ‘Abortion Travel – the agency that shouldn’t exist’, the pretend online ‘company’ offers packages to London, Paris and Berlin ranging from 1,940 euros to 2,620 euros.

Its organisers even give women advice relating to where to travel to in Europe depending upon how far gone their pregnancy is and the national law relating to their stage of gestation.

TheLocal.es covers a dismal ratio:

Spain: One vacancy for every 110 jobseekers

Spain had only one job opening for every 110 unemployed people in the final three months of 2013, the second worst rate in the European Union, a new study released on Wednesday shows.

Before Spain’s economic crisis kicked off in 2007, this rate was one job opening for every 17.5 jobseekers, the latest labour market bulletin by job agency Asempleo and financial consultants Afi shows.

Only Cyprus had a worse ratio: there the ratio was one job per 154 people searching for work.

The lack of job openings in Spain — where the official unemployment rate is 25.93 percent — is also in stark contrast with the EU average for the final quarter of of 2013. That figure was 12.3 unemployed people for each job on offer.

Italy next and a Bunga Buna bloviation from ANSA:

Berlusconi says accord with Renzi ‘useless’

  • Forza Italia leader says party will vote as it sees fit

Ex-premier Silvio Berlusconi said Wednesday that continuing an accord with Premier Matteo Renzi on government reforms would be “useless”. Instead of advance agreements, he said, his opposition centre-right Forza Italia (FI) party would decide for itself how to vote on each reform measure.

“It is useless to make arrangements before,” any vote, Berlusconi said in a television interview with Rai.

“We expect to see the reforms in Parliament (and) if we believe they are the best, we will vote for them,” and otherwise, FI will vote against the measure, he added.

TheLocal.it asks for a helping hand:

‘EU officials asked US for help to oust Berlusconi’

EU officials asked the US government for help to oust Silvio Berlusconi from the Italian premiership at the height of the economic crisis in 2011, a former advisor to US President Barack Obama has claimed.

Tim Geithner, former US treasury secretary, said that he refused to cooperate in a plot against the then Italian prime minister in the autumn of 2011. “European officials contacted us with a plot to find a way of forcing the Italian Premier Berlusconi to stand down,” Geithner was quoted in La Stampa as saying in his new book – Stress Test: Reflections on Financial Crises.

The EU officials wanted their US counterparts to refuse to back an Italian rescue package from the International Monetary Fund (IMF) unless Berlusconi resigned, Geithner alleged. The former treasury secretary claimed that he refused to go along with the plot, telling the Europeans “we cannot have blood on our hands.”

Blissful high level ignorance from ANSA:

Napolitano didn’t participate in Berlusconi ‘plot’ meetings

  • Geithner book feeds speculation Berlusconi was felled in 2011

President Giorgio Napolitano said in a statement Wednesday that he did not participate in any of the international meetings in which European officials allegedly plotted to bring down Silvio Berlusconi’s government in 2011.

Rumours that the third Berlusconi’s government was scuppered by a conspiracy were fueled this week by a new book by former US Treasury secretary Timothy Geithner. The former Treasury secretary wrote that in 2011, at a G-20 meeting, Europeans were pushing the White House to get involved in pressuring Berlusconi out of office, as Italy risked a Greek-style financial meltdown with the spread between Italian 10-year bonds and their German counterpart ballooning to over 500 points and yields above 7%.

Napolitano was instrumental in engineering the emergency technocrat administration led by ex-premier Mario Monti that replaced Berlusconi’s administration in November 2011.

After the jump, the latest anxieties from Greece, More Ukrainian turmoil and Russian retaliation [including a lethal blow the U.S. space program], a Georgian courtship, Turkish outrage, agrofuel and presidential woes in Latin America, Australian austerity run amok, a blow for GMOs in Pakistan, Thai turmoil, Southern Korean economic woes, bubble-plugging measures, corruption and economic and corporate imperialism in China, economic winners and losers in China, Trans-Pacific Partnership wheeling and dealing, MERS warnings, historical tragedy, and the latest chapter of Fukushimapocalypse Now! . . .
Continue reading

Headlines: Pols, EconoEnvirofails, more


Today’s headlines from the worlds of economics, politics, and the environment begins with business as usual from BuzzFeed:

Biden’s Son, Polish Ex-President Quietly Sign On To Ukrainian Gas Company

Revelations that Hunter Biden and Aleksander Kwasniewski serve on the board of a company controlled by a Yanukovych ally raise serious conflict of interest questions for Western countries’ Ukraine policy.

U.S. Vice President Joe Biden’s youngest son has joined the board of a gas company owned by an ally of Ukraine’s fugitive ex-president Viktor Yanukovych and a key European interlocutor with Kiev who was previously president of Poland.

The move raises questions about a potential conflict of interest for Joe Biden, who was the White House’s main interlocutor with Yanukovych while the latter was president and has since spearheaded Western efforts to wean Ukraine off Russian gas.

Company documents in Cyprus show that Joe Biden’s son, R. Hunter Biden, became a member of the board of directors of Burisma Holdings, which describes itself as Ukraine’s largest private natural gas producer, on April 18. Burisma announced Hunter Biden’s appointment in a press release Monday on its website which was quickly picked up by Russian state media.

And from the McClatchy Foreign Staff, Third World America:

U.S. alone among Western countries on lack of paid maternity leave, UN finds

The United States is the only Western country — and one of only three in the world — that does not provide some kind of monetary payment to new mothers who’ve taken maternity leave from their jobs, a new U.N. study reports.

Two other countries share the U.S. position of providing “no cash benefits during maternity leave,” according to the report, which was released Tuesday by the International Labor Organization: Oman, an absolute monarchy in the Persian Gulf; and Papua New Guinea, a South Pacific nation where the U.S. State Department says violence against women is so common that 60 percent of men in a U.N. study acknowledged having committed a rape.

The other 182 countries surveyed provide either a Social Security-like government payment to women who’ve recently given birth or adopted a child or require employers to continue at least a percentage of the worker’s pay. In 70 countries, paid leave is also provided for fathers, the report said, including Australia, which introduced 14 days of paid paternity leave last year, and Norway, which expanded its paternity leave from 12 to 14 weeks.

From the Associated Press, signs of a dangerous summer ahead in the Golden State:

Wildfire forces 20,000 evacuations near San Diego

Wildfires pushed by gusty winds chewed through canyons parched by California’s drought, prompting evacuation orders for more than 20,000 homes on the outskirts of San Diego and another 1,200 homes and businesses in Santa Barbara County 250 miles to the north.

No homes were reported damaged in either fire, but hundreds were considered threatened. The rugged terrain and unseasonably warm temperatures made firefighting even more difficult.

The flames that erupted in the fire-prone Rancho Bernardo area of San Diego quickly grew to 700 acres, driven by hot, dry Santa Ana winds that whipped through areas dotted by hilltop estates and pricey new housing tracts.

From TheLocal.fr, with a reminder that the figures refer to the total populations, not per capita consumption:

Americans topple French as biggest wine drinkers

For the first time, the United States has snatched from France the title of the world’s top wine consumer, according to a report released on Tuesday. France’s wine mastery already was threatened earlier this year.

Global wine consumption fell marginally in 2013 and the United States outstripped France as the top consumer, the International Organisation of Wine and Vine (OIV) said Tuesday.

Consumption dipped 1 percent last year to 238.7 hectolitres of wine in the global market worth 73 billion euros ($100 billion).

The United States was the top consumer for the first time at 29 million hectolitres, with domestic production accounting for four-fifths, said Jean-Marie Aurand, the head of the intergovernmental organisation that compiles global statistics for the industry.

The Mainichi cites a slowdown:

U.S. retail sales rise a scant 0.1 percent in April

  • U.S. retail sales growth slowed in April, with consumers shopping less online and cutting back on purchases of furniture and electronics.

The Commerce Department said Tuesday that seasonally adjusted retail sales rose just 0.1 percent last month, after surging 1.5 percent in March following a harsh winter that had curtailed shopping.

Several economists said the April figures might have been depressed because of seasonal adjustments connected to a later than usual Easter. Still, the modest sales suggest that consumers may remain cautious during the still-slow economic recovery. Higher sales would help drive faster growth because consumers account for about 70 percent of the economy.

From the San Francisco Chronicle, plutocrat behaving badly [and he’s Al Gore’s bosom buddy]:

Martins Beach billionaire evades questions on stand

The billionaire landowner who bought a popular beach in San Mateo County and then locked out the public was evasive and uncooperative when questioned Monday about his decision, stating repeatedly he “did not recollect” conversations, letters or legal documents.

Vinod Khosla testified during the civil trial in San Mateo County Superior Court that he did not remember why he set up two limited liability companies to buy Martins Beach, what amount he paid for the property, when he bought it or why the decision was made to keep the public out.

The Silicon Valley venture capitalist remained calm but gave no ground during the intense questioning – sometimes tinged with disbelief and sarcasm – by the lead attorney for the Surfrider Foundation, which sued Khosla for blocking the only access road to the beach. Khosla explained that he never had a conversation about the property without his lawyers present, a strategy that allowed him to invoke attorney-client privilege for virtually every question whose answer he could recollect.

A global story, via Xinhua:

Global economy still faces considerable risks: leading economic organizations

World economy still faces various risks despite its recent improvements, and further efforts on growth and consolidation are needed, said heads of world’s leading economic organizations on Tuesday.

High unemployment, significant output gap, low investment, rising inequality and slowdown in emerging economies still have an impact on global growth prospects, said chiefs of the Organization for Economic Cooperation and Development (OECD), the International Monetary Fund (IMF), the World Bank, the International Labor Organization (ILO) and the World Trade Organization (WTO) in a joint statement with German Chancellor Angela Merkel released after their meeting in Berlin.

“The global economy has noticeably improved, but is still far from a robust, sustainable growth,” the statement said.

And form the Japan Times, the neoliberal agenda marches on:

Nations narrowing gaps on TPP: Amari

The 12 countries involved in the haggling over a Pacific free trade agreement are narrowing their differences on intellectual property rights, one of the issues blocking the conclusion of the pact, Akira Amari, minister in charge of the Trans-Pacific Partnership negotiations, said Tuesday.

“There has been confrontations between emerging and developed economies in the area of intellectual property, but things are moving forward considerably,” Amari said.

“But I am aware that we have yet to reach an agreement” on the issue, Amari told reporters.

On to Europe and a pessimistic EurActiv:

Poll: Most Europeans believe ‘the worst is still to come’

With the European elections opening next week, a new survey shows that most Europeans believe the crisis is not over yet and that “the worst is still to come”, although the trend is slightly improving.

A Eurobarometer study released by the European Commission on Monday (12 May) shows Europeans are still depressed about their future.

44% Europeans believe “the impact of the crisis has already reached its peak” while 47% believe “the worst is still to come”.

Britain next, and a bubble only the rich can love from Sky News:

Property Boom Leaves Many Unable To Buy

A combination of soaring house prices and falling real wages is making home ownership an ever more distant dream for some.

The proportion of English and Welsh homes selling for over £1m has more than doubled during the Great Recession, in the latest evidence of the property market boom.

In London a record 7% of all home sales listed by the Land Registry in the year to March were for £1m or more – a sharp increase from the 3% level when Britain slid into recession in 2008.

Ireland next, and a confidence game from Independent.ie:

Consumer confidence hits seven year high

CONSUMER confidence rose again last month to hit a seven-year high.

The increase is despite household finances being under continued pressure, especially with the advent of water charges.

KBC Bank and the Economic and Social Research Institute said the index of consumer sentiment jumped to 87.3 in April, from 83.1 in the previous month.

This is the highest level since January 2007.

How Swede it is, from TheLocal.se:

All but three percent of Swedes lead ‘happy’ lives

A comprehensive survey of the 28 EU member states revealed that an EU-high 91 percent of Swedes believe immigrants contribute significantly to society, and 97 percent are satisfied with their lives.

All but 3 percent of Swedes are happy with their lives. At least, that’s according to an EU report published on Tuesday.

“I’m astonished by the results,” Swedish anthropologist Gillis Herlitz told The Local. “Swedes nowadays complain about everything.” The report revealed that Swedes were the most positive nationality in the EU when it came to both life satisfaction and perceptions of immigrants.

Germany next, and a curious move from TheLocal.de:

City to give alcoholics beer to clean streets

A planned taxpayer-funded project in western Germany to get unemployed alcoholics and drug addicts cleaning streets has sparked controversy by offering those who take part beer as part of their compensation.

The “Pick-up” initiative, planned by charity Addict Support Essen to start in mid-June, offers addicts beer – along with food and medical treatment – in exchange for working three to six hours a day collecting litter off streets.

They will also get “pocket money” of €1.25 per hour, similar to the established “one-euro-jobs” which employ unemployed and homeless people in Germany for public projects at an hourly rate of €1.

Deutsche Welle gets instructions:

OECD urges Germany to reduce poverty risk

The Organization for Economic Cooperation and Development (OECD) has criticized Germany for not doing enough to prevent a growing number of people from sliding into poverty. It called for a speedy action plan.

The organization of the world’s leading 34 industrialized nations pointed out in its latest biannual report on Tuesday that Germany’s recent economic upswing had failed to reach the weakest in society.

“The relative poverty risk and pronounced income inequality have remained unchanged over the past couple of years,” the reports said. The report also pointed out that it had become harder for low-paid workers to move up.

OECD Secretary-General Angel Gurria called on the government to prepare reforms quickly to rectify the current situation. “Germany must act now,” he told reporters in Berlin.

More from TheLocal.de:

Germany has more jobs, but more inequality

Germany must do more to reduce poverty risks made worse by reforms to the labour market that have reduced joblessness but widened inequality, the Organization for Economic Cooperation and Development said on Tuesday.

“Germany’s current economic success offers a good platform for achieving sustainable and inclusive growth, but further reforms will be necessary over the medium and long term,” the OECD wrote in a new report.

Presenting the report at a news conference, OECD secretary general Angel Gurria said that reforms were usually enacted in times of crisis when there was no other option.

Off to France and a disturbing sign of that ol’ hard times intolerance from TheLocal.fr:

France sees 78 percent rise in homophobic acts

France may have taken the historic step of legalising gay marriage last year, but it appears the landmark social reform came at a cost. The number of reported homophobic acts increased in 2013 by a staggering 78 percent, according to a watchdog group.

In 2013 there was a homophobic physical attack every two days in France, which represented a rise of 54 percent on 2012.

That is just one of the worrying stats contained in a new report by French gay-rights organisation SOS Homophobie, which monitors the levels of homophobia in the country.

Spain next, and more troubling numbers from ANSAmed:

Spain: 4 million jobless lack unemployment benefits

  • EPA says only 32.5% get them, labor ministry says 58.9%

The length of the economic crisis and recession in Spain has led to four million jobless not receiving any sort of unemployment benefits or social assistance, according to the Labour Force Survey (Encuesta de Población Activa, EPA) released on Tuesday.

The survey was on the first quarter of 2014. The EPA report shows that 32.5% of the unemployed receive benefits, while a labor ministry report released in March had instead put the figure at 58.9%.

TheLocal.es sticks close:

Spanish love affair with EU still going strong

They may have endured spending cuts and tax hikes overseen by Brussels, but Spaniards still seem surprisingly pro-EU and keen to vote in this month’s European elections.

Crawling out of a crisis in which European authorities helped bail out its banks but approved pay freezes for ordinary Spaniards, Spain is nevertheless a cheerleader for European integration — a once-marginal state that has done well in the union.

More than 58 percent of Spaniards are still in favour of the European Union against just under 30 percent who are against it, according to a study published last week by Spain’s Centre for Sociological Studies (CIS).

The economic crisis that erupted in 2008 did affect Spanish views of the EU. A European Commission study showed that the ratio of people who thought Spain had benefitted from the EU was much higher at 75 percent in 2007.

Italy next, with rising doubts form TheLocal.it:

Support for EU plummets in Italy – survey

Support for the European Union is on the rise across some of the continent’s major economies apart from Italy, a study by the Pew Research Centre has revealed.

As voters head to the European elections, which get under way on May 22nd, the survey found that there has been a 12 percent decline in support for the EU among Italians since 2013.

The survey was conducted in France, Germany, Greece, Italy, Poland, Spain and the United Kingdom.

Favourable sentiment towards the economic bloc has been on the decline in Italy in since 2012, falling from 59 percent that year to 46 percent in the recent survey.

After the jump, the latest from Greece, belated Hungarian vengeance, Ukrainian turmoil, Russian retaliation, Turkish tragedy, Israeli corruption, a Latin American warning and troubles in Brazil, Pakistani busts, Indian electoral exuberance, a warning from Thailand, economic anxieties and death by testing in China, more financial woes in Japan, controlling your dreams, and the latest Fukushimapocalypse Now!. . .   Continue reading

Headlines: eCons, pols, hate, polluters. . .


Today’s collection of headlines from the worlds of politics, economics, and the environment — plus the latest episode of Fukushimapocalypse Now! Beguns with a frightener from The Observer:

Why global recovery could depend on China’s taste for luxury

  • Attitudes are changing in China, but western export hopes are pinned on a swelling middle class embracing its inner consumer

China’s looming coronation as the world’s largest economy, years ahead of schedule, is probably not particularly surprising in one sleepy corner of Oxfordshire. Around half of the international visitors who flock to Bicester retail village are Chinese nationals, making the one-hour train trip from London, or using the fleet of special coaches that head there each day – to stock up on luxury goods.

A World Bank-backed report has declared that the country’s national currency, the yuan, will go further than previously thought in the hands of the Chinese consumer and that this supercharged purchasing power will push the world’s second-largest economy ahead of the US this year.

This could be the century of the Chinese consumer, now a figure of central importance for luxury goods companies including some of the biggest retail names in Britain.

Closer to home with disorder in the courts from the Los Angeles Times:

Cutbacks in California court system produce long lines, short tempers

California Chief Justice Tani Cantil-Sakauye remembers the moment she learned that the Kings County Superior Court had resorted to holding a garage sale to raise money.

“That was a day of extreme humiliation and embarrassment to me,” Cantil-Sakauye said.

During her three years as chief justice, recession-driven cutbacks in California’s huge court system have produced long lines and short tempers at courthouses throughout the state. Civil cases are facing growing delays in getting to trial, and court closures have forced residents in some counties to drive several hours for an appearance.

TechCrunch covers hypocrisy from Obama appointees:

FCC Said To Tweak Proposed Net Neutrality Rules, But Preserve Pay-For-Speed

Call it a non-fix: According to the Wall Street Journal, FCC Chairman Tom Wheeler has tweaked the language of his proposed rules to allow content providers to pay for faster delivery of their content across an ISPs network.

He has not recanted that proposal. Instead, according to the Journal, “the new language by FCC Chairman Tom Wheeler to be circulated as early as Monday is an attempt to address criticism of his proposal unveiled last month that would ban broadband providers from blocking or slowing down websites,” but would still let companies that are content-intensive “pay [ISPs] for faster delivery of Web content to customers.”

Doesn’t that feel precisely the same as the plan before? Yes, but, this time, the Journal continues, we’re going to have “language that would make clear that the FCC will scrutinize the deals to make sure that the broadband providers don’t unfairly put nonpaying companies’ content at a disadvantage.” So, the paid advantage would be “fair.” Defining that isn’t going to be easy.

Heading north of the border, Canada’s effort to sway American legislators via the Toronto Globe and Mail:

Canada’s $207,000 oil sands ad: Putting a price on deception

The ad in The New Yorker is pretty, if not quite arresting. The full-page photo on the inside back cover – prime real estate in the United States’ leading upmarket magazine – features a pristine river meandering through a lush mountain valley, untouched by humanity. It is not a tourism ad. It is designed to convince influential Americans that the Keystone XL pipeline is environmentally safe, even desirable.

What is clever about the ad is not the photo; it is the headline and the succinct lines of copy beneath it. They are slick pieces of propaganda – misleading without being outright lies. Of course, advertising is all about propaganda. But this ad is unconscionable because you, the Canadian taxpayer, paid for it. The rate for a full-page ad in that location, according to Condé Nast, publisher of The New Yorker, is $207,000 (U.S.).

The ad appeared in the April 14 issue and was sponsored by GoWithCanada.ca, the federal government site that is trying to convince the skeptical that the Alberta oil sands – known as the tar sands to non-Canadians – and the export pipelines that would allow the megaproject to thrive for decades are a “secure, responsible source of energy for the global market” (“Keystone” does not appear in the ad).

On to Europe and another hint of darker days to come from the Guardian:

Mario Draghi drops hint of imminent move to tackle risk of deflation

  • European Central Bank boss signals that a move could come once his economists produce forecasts for inflation in June

European Central Bank boss Mario Draghi has dropped his broadest hint yet of imminent moves to head off deflation when he said policy makers at the bank were “comfortable” about action in early June.

Upward pressure on the euro eased and yields on government bonds fell after the ECB president expressed concern that weak growth and the possible knock-on effects from the Ukraine could derail the eurozone’s fragile recovery.

Although Draghi announced no change in policy following the meeting of the ECB’s general council in Brussels, he signalled that a move could come once his in-house economists produce updated forecasts for inflation in the first few days of next month.

From Sky News, elite-a-palooza:

Billionaire Britain: New Nation Of Super-Rich

This year’s Sunday Times Rich List reveals Britain has more billionaires per head of population than any other country.

More than 100 billionaires are now living in Britain – the first time the milestone has been reached.

According to this year’s Sunday Times Rich List, 104 billionaires with a combined wealth of more than £300bn are now based in the UK – more than triple the number from a decade ago.

Britain has more billionaires per head of population than any other country, while London has more than any other city with 72.

News Corp Australia covers a British plutocrat behaving badly:

British millionaire Shoja Shojai ‘fathered seven children with harem of women he held against their will in Spain’

A BRITISH millionaire accused of fathering seven children with a harem of aspiring models he kept against their will has been arrested.

Shoja Shojai, 56, allegedly met many of the women in London and convinced them to move to his mansion in Spain, telling them he was an oil tycoon who was friends with Barack Obama.

Police were called to the luxurious Arabic-style mansion in the hills above Marbella when one of the women filed a domestic violence claim against him, T he Telegraph reports.

Nine of the women, mostly in their 20s, who live at the mansion claim Shojai lured them to Spain under false pretences, abusing them and forcing them to cover the 6500 pound ($11,6700) monthly rent.

From the Guardian more of London’s billionaire attracting power:

London property empire amassed by controversial German landlord

  • Henning Conle, who has reputation for shabby buildings and disgruntled tenants in Germany, has snapped up almost £2bn of prime London real estate

A German landlord with a reputation for shabby buildings and disgruntled tenants has emerged as one of the biggest investors in London property in recent years.

Henning Conle, 70, has snapped up almost £2bn of prime real estate, including a series of historic buildings in central London, raising inevitable questions about where he got his money from.

The portfolio includes buildings that house department stores such as Liberty and House of Fraser, the Kensington Roof Gardens complex, the London offices of Manchester United and the art deco Shell Mex House on the Strand.

While Sky News covers more austerian casualties:

‘Overworked’ Doctors Fear Missing Illnesses

  • More than eight out of 10 family doctors say they worry about failing to spot serious conditions because of their workloads.

More than eight out of 10 GPs have said they fear missing serious illnesses in patients because they are so overworked, according to a survey.

Nine out of 10 family doctors, meanwhile, feel their general practices do not have sufficient resources to provide high quality care.

The survey was carried out by the Royal College of General Practitioners, the professional membership body for family doctors.

Off to Scandinavia with the Christian Science Monitor:

Nordic cuddly capitalism: Utopia, no. But a global model for equity

The cuddly capitalism of the Nordic nations provides an economic equity that makes a middle class lifestyle the norm, where the sharp edges of worry about the cost of health care, elder care, child care, and education simply don’t exist. But is it a sustainable model for anyone but the pragmatic North?

And these countries have pioneered public policies, the effects of which – if not the tax burden – are the envy of the common man worldwide: from universal preschool and paternity leave to vocational training schools and voucher programs for private schools.

Some of it is hype, which naysayers love to shoot down, as in the recent viral Guardian article that spelled out “the grim truth behind the ‘Scandinavian miracle.’ “ Much of Nordic success has happened because the countries are small, nimble, and, until recently, homogenous. But problems do loom on the horizon, with growing inequality and anti-immigration sentiment, stubborn youth unemployment, and education scores dropping in Sweden and one of the world’s star education performers, Finland.

But by so many measures, the Nordic countries simply work well, sustaining the security of a welfare state while being unabashed capitalists and innovators, adapting to change, and doing so with a long tradition of pragmatic consensus. The region tops charts on equality, transparency, and innovation.

New Europe covers risks:

Norway’s economic risks predicted by OECD

Norway’s economy faces two risk factors that threaten its overall development, warned the OECD in its latest Economic Outlook which was released on May 6.

These two risk factors, according to the Organisation for Economic Co-operation and Development, are the price of oil and the real estate market.

“The ripple effects from a weak oil sector may be greater than expected,” the OECD concludes in its report, which also notes that the country is still volatile when it comes to changing oil prices.

On to France and another green movement from RT:

Hundreds march across France to legalize cannabis

Hundreds of protesters all over France have been rallying demonstrating in favor of legalizing cannabis. The event coincides with the so-called world march for the legalization of the drug.

In Paris, protesters gathered on Bastille Square on Saturday, after Cannabis Without Frontiers, an organization struggling to legalize marijuana in the country, called for the rally.

The crowd chanted “Marie-Jeanne!” in a reference to the nickname for marijuana in France. Many of the protesters held joints or leaves of marijuana, dancing to reggae music.

From TheLocal.fr, the Great Game continues:

Hollande bids to boost Caucasus ties

French President Francois Hollande starts a three-day visit to the South Caucasus on Sunday as he seeks to bolster European ties on Russia’s southern doorstep amid the crisis in Ukraine.

French President Francois Hollande starts a three-day visit to the South Caucasus on Sunday as he seeks to bolster European ties on Russia’s southern doorstep amid the crisis in Ukraine.

Hollande was due to arrive in the Azerbaijani capital Baku around 6:00 pm Sunday, on the same day separatists in eastern Ukraine held referendums on breaking away from the country.

And the London Telegraph covers the bankster blues:

Cinema producer warned over ‘Dominique Strauss-Kahn film’

  • French producer of film closely inspired by downfall of IMF boss warned that Dominique Strauss-Kahn’s wife will “destroy his life”

The producer of a film which appears to chart the spectacular downfall of Dominique Strauss-Kahn has said he was warned that the estranged wife of the former IMF chief would “destroy his life”.

The accusation will heighten controversy over the film Welcome to New York, which premieres next weekend at Cannes despite being shunned by festival organisers.

Producer Vincent Maraval also repeated his claims that the French political and media “elite” had done their best to prevent the film, which has Gérard Depardieu in the lead role, being made

On to Lisbon and moderately good news from the Portugal News:

Unemployment slightly down

Portugal’s unemployment rate closed the first quarter on 15.1%, down 2.4% on the same period in 2013 and down 0.2% on the previous quarter according to figures released by the National Institute of Statistics.

The institute reported some 788,100 persons were without employment and down by 138,700 and 19,900 people on annual and quarterly bases respectively with the former figure amounting to a 15% drop but also accounting for those who have left the workforce in the meanwhile.

The figures show that there was a total of 4.427 million people in employment, an annualised rise of 1.7% but down 0.9% on the final quarter of 2013.

Italy next, and a populist pander from EUbusiness:

Italy’s Grillo makes Nazi jibe against Schulz

Italian anti-establishment firebrand Beppe Grillo on Sunday likened European Commission presidency candidate Martin Schulz to a Nazi comic book character after Schulz compared him to Stalin and Hugo Chavez.

Grillo’s blog carried a photoshopped picture of Schulz as a Nazi whipping Italian Prime Minister Matteo Renzi and his post said that the European Parliament’s German president “has no shame in talking crap”.

Grillo said Silvio Berlusconi was “not completely wrong when he called him a kapo”, or concentration camp guard, recalling an infamous speech made by the then prime minister to the European Parliament in 2003.

Grillo called Schulz a “sturmtruppen” — a reference to a comic book series — and said he was a “krapo”, a combination of the word “kapo” and “crapun” — a dialect word meaning “big head” that was used to refer to Italian fascist dictator Benito Mussolini.

From BBC Sport, more overt racism, soccer-style:

AC Milan: Bananas thrown at players by Atalanta fans

AC Milan players had bananas thrown at them during a 2-1 defeat at Atalanta.

Guinea international Kevin Constant and Netherlands midfielder Nigel de Jong picked up two bananas thrown onto the pitch, while Milan players appeared to sarcastically applaud the home support.

Fans were warned the game would be suspended if there was a repeat.

“Whoever threw the banana on the pitch deserves to have a coconut thrown back at them,” Atalanta boss Stefano Colantuono told Gazzetta dello Sport.

“They’ve ruined what was a great afternoon.”

After the jump, good news for Greek neoNazis, electoral violence in the Ukraine, Brazilian angst, waiting for Chinese promises in Africa, Indian elections and hankering for U.S. fracking, Indonesian Shariah second thoughts, Thai troubles continue, economic warning signs from China, Japanese casino dreams, environmental woes, and the latest chapter of Fukushimapocalypse Now!. . . Continue reading

Headlines: eCons, banksters, crimes, more


Today’s collection of headlines on the unfolding events in economic, politics, and the environment covers lots of ground, but our sense that events are moving toward a climax as the drama continues to accelerate.

First up, another sign of hard times, Catholic fundamentalism, via the London Telegraph:

Decline of religious belief means we need more exorcists, say Catholics

  • Decline of religion in the West has created a rise in black magic, Satanism and the occult

The decline of religious belief in the West and the growth of secularism has “opened the window” to black magic, Satanism and belief in the occult, the organisers of a conference on exorcism have said.

The six-day meeting in Rome aims to train about 200 Roman Catholic priests from more than 30 countries in how to cast out evil from people who believe themselves to be in thrall to the Devil.

The conference, “Exorcism and Prayers of Liberation”, has also attracted psychiatrists, sociologists, doctors and criminologists in what the Church called a “multi-disciplinary” approach to exorcisms.

And from the Christian Science Monitor, unlikely allies:

Google, Facebook strike back against FCC plans to reshape the Internet

  • Some 150 tech companies sent a letter to the FCC, saying proposed rules would undermine ‘net neutrality,’ which has fueled the exponential growth of the Internet, they say.

After years of setbacks, the supporters of “net neutrality” have begun a full-throated counterattack this week. On Wednesday, 150 tech companies including Google, Facebook, Twitter, Amazon, and Netflix asked the Federal Communications Commission to preserve a core principle that has guided the Internet’s exponential growth since its advent decades ago.

At issue are new FCC rules announced last month that allow Internet providers such as Verizon, Comcast, and AT&T to treat some content on the Internet differently. For example, they can create “fast lanes” that will move content across the Internet more quickly, but companies like Google and Facebook will have to pay to use it. This, critics say, is a violation of net neutrality, in which all content – whether it’s a Netflix stream or an e-mail to grandma – is treated the same.

Internet providers such as Comcast say it’s common sense that companies that make more demands on their networks – like Netflix – should pay more for quicker service. Critics say this would turn the Internet – one of the greatest engines of innovation and freedom in the 21st century – into the playground of the highest bidders.

Another response from Al Jazeera America:

Open Internet backers stage ‘Occupy FCC’

  • Protesters plan to stay in front of communications regulator until it supports Net neutrality

Internet libertarians calling for the equal treatment of all Internet data have camped out in front of the Federal Communications Commission (FCC) in Washington, D.C., saying they won’t quit their Occupy-style protest until the regulator stands up for Net neutrality.

About 15 people stood outside the FCC’s headquarters on Wednesday afternoon in a protest organized by the two groups, Fight for the Future and Popular Resistance. Five of the demonstrators said they were determined to set up camp overnight and stick around until May 15, when the commission is set to unveil proposed new Net neutrality rules — or perhaps longer, if the new rules don’t meet their expectations.

Margaret Flowers of Popular Resistance says members of the protest — officially called “Camp Out to Save Net Neutrality” or “People’s Firewall FCC Camp” and unofficially as “Occupy FCC” — are in it for the long haul, bringing sleeping bags and signs and engaging in chants, such as “Hey, hey, FCC, the Internet must be free” and “FCC, drop the barrier, make the Internet a common carrier.”

From CNBC, a case of too little, too late:

US Fed proposes rule to limit size of merged banks

The U.S. Federal Reserve on Thursday proposed a rule to limit concentration in the financial sector, a requirement of the 2010 Dodd-Frank Act to make banks safer after the crisis.

The rule would prohibit a bank merger if the new company’s liabilities exceed 10 percent of the aggregate consolidated liabilities of all financial companies, the central bank said in a press release.

Companies subject to the rule would be depository institutions, bank holding companies, savings and loan holding companies, foreign banking organizations, companies that control insured depository institutions, and non-bank financial companies designated “as systemic’‘ by the Financial Stability Oversight Council (FSOC), a tag that carries greater regulation and Fed oversight.

And from the Department of Snowball’s Chance in Hell of Survivng a GOP House, this from BBC News:

Carl Levin eyes bill to end corporate tax loophole

US senator Carl Levin has said he plans to introduce legislation into Congress that would close a loophole allowing US companies to move overseas and avoid US taxes.

The loophole – known as an “inversion” – allows US firms to reincorporate abroad, generally in an effort to avoid the US corporate tax rate of 35%.

Pfizer’s bid for AstraZeneca has put renewed focus on the practice.

From Al Jazeera America, a verdict of the Bush/Obama education agenda:

National report card: High school seniors lack critical skills

Handing out dismal grades on Wednesday, the Nation’s Report Card said America’s high school seniors lack math and reading skills critical in an increasingly competitive global economy.

Only about one-quarter are performing proficiently or better in math and just 4 in 10 in reading. And they’re not improving, the report says, reinforcing concerns that large numbers of today’s students are unprepared for either college or the workplace.

Scores on the 2013 exam in both subjects were little changed from 2009, when the National Assessment of Educational Progress was last given to 12th graders. The new results come from a representative sample of 92,000 public and private school students.

From Reuters, the search for a captive audience:

Exclusive: Barnes & Noble seeks big expansion of its college stores

The U.S. bookseller, which opened in 1965 as a university bookstore in New York, wants a much bigger presence on college campuses, where students last year spent an average of $1,200 on textbooks and supplies, according to the College Board.

Barnes & Noble, now the second largest operator of college bookstores with 696 shops, plans to have about 1,000 locations within five years, Max Roberts, chief executive of the company’s college business, said in an exclusive interview at Rutgers University’s bookstore in New Brunswick, New Jersey.

It intends to do that by getting more schools to outsource their bookstore operations with the lure of nicer, higher-grossing stores and by poaching accounts from larger rival Follett Corp, which runs 940 stores.

A boom brings its own crisis, via MintPress News:

North Dakota Asks Nation For Help In Human Trafficking Epidemic

North Dakota’s male-dominated oil fields have created huge demand for sex workers. This demand has led to a human trafficking epidemic that the state can’t remedy on its own.

The men working on the oil fields don’t seem put off by the large rent checks they are writing, but the highly skewed male-to-female ratio is proving problematic, prompting many to seek out prostitutes.

Although prostitution is currently illegal in North Dakota and is classified as a Class B misdemeanor, punishable by up to a year in prison and a $1,000 fine, the demand for prostitutes has never been higher in the Roughrider State.

Windie Jo Lazenko is an advocate for human trafficking victims who founded 4Her North Dakota — a ministry that helps educate the public and advocate for victims in the hope of eradicating human trafficking for the purpose of sex in the United States. Though she was raised in Southern California, Lazenko has found herself in North Dakota in recent years investigating rumors of rampant human trafficking in the state.

From China Daily, a trans-Pacific customer:

US exports to China total $120b last year: USCBC

The US exports to China hit $120 billion last year, making China the third largest export market for American goods, said the US-China Business Council (USCBC) Wednesday.

In a newly released report, the USCBC, a private, non-profit organization, noted that US exports to China have grown at an average annual rate of 15.1 percent over the past 10 years, fastest among all major US trading partner.

The American exports to China rose by 10.4 percent last year, making it a major export market for US goods only behind Canada and Mexico, the two neighbors with which the United States has a free trade agreement.

CNBC delivers another verdict:

Yellen: Economy remains on track but keep an eye on housing

The economy is “on track for solid growth this quarter,” Federal Reserve Chair Janet Yellen said on Wednesday, but warned that a deterioration in housing or financial markets could alter that scenario.

After recent weakness that was mostly weather-related, Yellen said many recent indicators suggest a rebound in spending and production. However, the Fed chief told a joint Congressional committee that housing remains a risk to the recovery, even as the Fed expects that sector to pick up eventually.

The newly-appointed top central banker walked a fine line between preparing markets for normalizing monetary policy from its crisis era levels, and assuring the public that the Fed would continue to safeguard a still fragile recovery. A brutally cold winter triggered a run of weak activity that caused economic growth to flatline in the first three months of the year.

From CNBC again, another verdict:

Fed Chair Yellen: Minimum wage hike to have negative impact on jobs

In testimony before a Senate committee on Thursday, Fed Chair Yellen said a minimum wage increase would likely have some negative effects on jobs, though it’s not clear how large.

Still, boosting the federal minimum wage, which has remained at $7.25 per hour since mid-2009, would benefit some people, she added.

In recent months, the federal minimum wage has been a hot-button issue. In February, President Barack Obama boosted the minimum pay for federal contractors hired in the future to $10.10 per hour. He’s also voiced his support for the federal level for all workers to rise to $10.10 from the current $7.25. Separately, organized protests of fast food workers have lobbied for a jump to $15.

While My Budget 360 offers another bottom line:

US household debt nearly twice as high as annual wages and salaries: Inflating the consumer debt bubble with student loans and auto debt.

The latest consumer credit report surprised to the upside. What was the surprise? Americans are back to borrowing money they don’t have. Are they borrowing for investing or possibly purchasing a modest home? No.

The latest data shows that Americans are once again going deep into student debt and auto debt. This is actually worse than borrowing for a home you can’t afford. A car will begin losing its value seconds after you drive it off the lot. Yet this is where Americans are pouring their money. So don’t be surprised if you see a pizza delivery person driving in a nicer car than you are.

Since the 1980s, households have been supplementing the decline in their standard of living by going into deep debt.

And Naked Capitalism sets the stage for another crisis:

SEC Official Describes Widespread Lawbreaking and Material Weakness in Controls in Private Equity Industry

At a private equity conference this week, Drew Bowden, a senior SEC official, told private equity fund managers and their investors in considerable detail about how the agency had found widespread stealing and other serious infractions in its audits of private equity firms.

In the years that I’ve been reading speeches from regulators, I’ve never seen anything remotely like Bowden’s talk. I’ve embedded it at the end of this post and strongly encourage you to read it in full.

Despite the at times disconcertingly polite tone, the SEC has now announced that more than 50 percent of private equity firms it has audited have engaged in serious infractions of securities laws. These abuses were detected thanks to to Dodd Frank. Private equity general partners had been unregulated until early 2012, when they were required to SEC regulation as investment advisers.

MarketWatch sounds the alarm:

10 peaking megabubbles signal impending stock crash

  • Commentary: Fed-driven rally is about to end badly

Yes, “the bull market may come to an end any time,” warns Jeremy Grantham, founder of the $117 billion GMO investment giant. An unpredictable collapse. Risky valuations, 10 bubbles peaking, and black swan megatrends: The bull “could be derailed by disappointing global growth, profits sagging as deficits are cut, a Russian miscalculation, or, perhaps most dangerous and likely, an extreme Chinese slowdown.”

Yes, Grantham’s hedging his near-term: Betting the S&P 500 could rally past 2,250 before the 2016 presidential election, “depending on what new ammunition the Fed can dig up.” But then, a black swan will ignite “around the election or soon after, the market bubble will burst” and “revert to its trend value, around half of its peak or worse.”

Yes half. The S&P 500 will collapse to about 1,125. This Fed-driven rally “will end badly.” Repeating the dot-com losses of 2000-2003. Repeating Wall Street’s $10 trillion losses in 2007-2009.

Add another potential bubble, via MintPress News:

A Win For Civil Society As Corporations Divest From Private Prison Industry

Corporate divestment from the U.S. private prison sector could major a big impact on the industry — even if it’s mostly symbolic.

Three corporations considered major investors in the U.S. private prison industry are moving to dump their holdings in the sector, apparently in response to newly stepped-up pressure from civil society.

The total divestments add up to about $60 million, and organizers say more divestment announcements are on the way. Two of the three companies — Amica Mutual Insurance and Dutch chemicals manufacturer DSM North America — have reportedly offloaded all of their shares in the Corrections Corporation of America and Geo Group, the country’s two largest for-profit corrections companies.

“In accordance with [U.N.] principles … with respect to the protection of internationally proclaimed human rights, the [DSM Netherlands] pension fund has divested from the for-profit prison industry,” Hugh Walsh, president of DSM North America, said in a statement late last month.

On to Europe and a eurobankster decision from BBC News:

ECB holds rates but Draghi hints at policy change

European Central Bank president Mario Draghi has hinted the bank’s policymakers may act soon to reverse the eurozone’s prolonged low inflation.

The ECB chief said on Thursday that the monetary authority was “not resigned” to low inflation, which at 0.7% is well below the 2% target.

The comments followed that ECB’s decision to keep its benchmark interest rate at a record low of 0.25%.

Attribution, via EUobserver:

Russia driving up euro, says Draghi

Low inflation, weak demand and high unemployment are not the only reasons for a strong euro, which is a “matter of serious concern” for the governing board of the European Central Bank (ECB).

Russia’s actions in Ukraine are “certainly one of the reasons”, with credit flows from Russia and Ukraine “having the effect of keeping the euro strong,” ECB chief Mario Draghi said Thursday (8 May) in a press conference.

The euro is appreciating because it is seen as a safe haven by investors, compared to the shaky Ukrainian hryvnia and the Russian ruble.

And from New Europe, vast indifference:

Euro election fails to interest 62% of Europeans

  • Suppose they held an election and nobody came?

A poll has shown that six out of ten Europeans are uninterested in the elections to the European Parliament in three weeks time.

The survey of 9,000 people in 12 countries will cause great concern in Brussels where the parliament has faced declining turnout since elections were introduced in 1979.

‘This time it is different’ is the slogan used by the parliament in a 15 million Euro campaign to persuade voters to turn up on polling day, 22 to 25 May.

The political parties of Europe have also tried to boost the poll by picking lead candidates and campaigning across the continent.

New Europe again, this time with positive[?] news:

Council adopts new measures to cut broadband costs

  • The measures promote the joint use of infrastructure

The Council today adopted a directive which will make it easier and cheaper to roll out high-speed electronic communications networks, among other things by promoting the joint use of infrastructure, such as electricity, gas and sewage pipes.

Today’s final adoption of the legislative act by the Council follows an agreement reached at first reading with the European Parliament. The Parliament held its vote at the plenary session on 15 April 2014.

Member states must adopt national provisions to comply with the new directive by 1 January 2016, and they must apply the new measures from 1 July 2016.

On to Britain and a body count from BBC News:

Barclays to cut 19,000 jobs over three years

Barclays is to cut 19,000 jobs by 2016, with more than 9,000 to go in the UK, the bank has said.

As part of a new strategy, the investment part of the bank will lose about 7,000 jobs by the end of 2016.

Barclays’ investment bank has been hit by a slowdown in the demand for government and company debt.

Ireland next, Sky News and bad news for women:

No NHS Abortions For Northern Ireland Women

Women who are unable to receive abortions in Northern Ireland are told they are not entitled to the procedure for free on the NHS.

The High Court has upheld a ruling which forbids women from Northern Ireland receiving free abortions in England. Mr Justice King rejected a legal challenge to restrictions on women from Northern Ireland undergoing terminations on the NHS.

The case was brought  by a teenager, referred to as “A”, who was denied an abortion by medical authorities in Northern Ireland in October 2012. Laws on the procedure are extremely strict, with terminations only permitted when the life of the mother as at risk.

The girl, aged 15 at the time, then sought an abortion in England, where abortions are legal, but was denied NHS treatment. She was forced to pay £600 to have the operation done privately and a further £300 in travel costs.

A stunning allegation, via EUobserver:

EU ‘bullied’ Ireland into bailout, former Barroso aide says

The EU’s institutions ‘bullied’ Ireland into a bailout, a senior former adviser to the European Commission’s president said on Wednesday (7 May).

In an interview with Irish network RTE, Phillipe Legrain accused the Commission and the Frankfurt-based European Central Bank (ECB) of having sided with France and Germany in insisting that Irish taxpayers were left solely responsible for the €64 billion debt burden held by its banks, a move he described as “unjust and unbearable”.

“It was a mistake by the previous government to guarantee all Irish bank debts but it was outrageous to effectively threaten to force Ireland out of the euro unless the government went through with that foolish pledge,” said Legrain.

Between 2011 and February 2014, Legrain was principal adviser at the Bureau of European Policy Advisers, the in-house think tank which provides economic advice to Commission president Jose Manuel Barroso.

Sweden next with TheLocal.se, imitating the Nazis:

Roma rep: Register payouts ‘a disgrace’

Sweden’s Chancellor of Justice ruled on Wednesday that those listed in an illegal Swedish police register of Roma will be entitled to receive compensation of 5,000 kronor ($768), an award dismissed by a leading representative as “a disgrace”.

“This is a further violation. But it is at the same time positive that a state body… rules that what the police have done is wrong and illegal,” Soraya Post, EU parliamentary candidate for the Feminist Initiative and Roma human rights activist, told the Dagens Nyheter daily on Wednesday evening.

“We will just have to bring this before the European Court,” she added.

The Chancellor of Justice (Justitiekanslern – JK) confirmed on Wednesday that the Skåne County police department register was illegal. The existence of the register was exposed by Dagens Nyheter’s reporter Niklas Orrenius in September 2013.

Germany next, and a household budget from EurActiv:

German living expenses rank high

In Germany, day-to-day goods are one-third more expensive than in the rest of the world. But German price levels rank near average in a European comparison, while living in Switzerland and Norway comes with the highest price-tag, a recent study says.

Life in Germany is comparatively expensive, according to a recent study. In 2011, the price level in the Federal Republic was around 36% over the global average, the Federal Statistical Office (Destatis) reported on Wednesday (7 May).

Compared to German price levels, living costs were much lower in Asia. In South Korea, for example, people paid 28% less three years ago, while China and Russia were around half. In India, expenses were over 70% lower than in Germany.

Destatis based its findings on a study conducted by the World Bank’s International Comparison Program (ICP) which focused on purchasing power parities and comparative price levels.

Via TheLocal.de, ironic litigation:

Equality tsar sues own ministry – for inequality

The equality commissioner at the German Family Ministry is suing her own employers over the appointment of three men to key positions in 2012.

Kristin Rose-Möhring took the ministry to Germany’s administrative court on Thursday because the appointments of press spokesman, state secretary, and an independent commissioner on child abuse – were made without consulting her. All three posts subsequently went to men.

The 59-year-old, who has been in the post since 2001, said that although the appointments were made under a different minister (Kristina Schröder was replaced by the incumbent Manuela Schwesig last year), the same structures are still in place at the ministry. “There is still room for improvement,” Rose-Möhring said.

Via People’s Daily, anticipatory anxiety:

Growing euro area deflation risk could hurt German economy: research

The risk of deflation is growing in the euro area which threatens economic growth in Germany, the Institute of Macroeconomic Research (IMK) said on Thursday.

Based on its simulation calculations, IMK expected a stable German economy in 2014 and 2015 but warned of risks such as price stability.

The increase in German consumer prices of 0.9 percent in March was significantly below the inflation rate of the European Central Bank of 1.9 percent. In the euro area, prices rose by only 0.5 percent, while prices sank in Greece, Spain, Portugal and Cyprus.

On to France and on the defensive with TheLocal.fr:

‘Exiting from Europe is exiting from history’

President Francois Hollande on Thursday hit back at the growing anti-EU rhetoric in France fostered by the far right in its campaign for the European parliamentary elections.

In a commentary published in Le Monde on the anniversary of the Allied victory against Nazi Germany in World War II, Hollande recalled the words of another Socialist president, Francois Mitterrand, who defended European integration by saying “nationalism means war” while “Europe means peace”.

Hollande’s comments come as polls show the far-right National Front (FN) could come out on top in the May 25th European elections in France.

But the economy isn’t helping Hollande, as New Europe reports:

Industrial production in France falls 0.7 pct in March

  • France’s March trade gap also widened on soaring imports bills

French statistics bureau Insee reported on Wednesday a 0.7-percent decline in industrial output in France in March compared to February’s data.

According to Insee, Europe’s second largest economy produced less over the period due to sluggish auto industry and weak performance of food processing activity which fell by 2.3 percent and 1.1 percent respectively.

After growing by 0.3 percent in February, manufacturing also lost momentum with a 0.7-percent decrease, Insee reported.

From TheLocal.fr, a wiseguy rubout in an unlikely place:

Monaco magnate shot outside Nice hospital

The Italian mafia is suspected of being behind the shooting of the 77-year-old head of one of Monaco’s richest families outside a hospital in Nice on Tuesday night.

Hélène Pastor, said to be close to Monaco’s Royal family, and her chauffeur, named by the French press as Mohammed D, were seriously injured after being shot outside the L’Archet Hospital in the southern French city.

A report in the French daily Le Figaro pointed to investigators suspecting that two of Italy’s most notorious organized crime groups, ‘Ndrangheta or the Camorra, could be behind the attack. Both clans are said to have gained a strong foothold on the French Riviera’s property sector.

Switzerland next, and taxing woes for migrant labor from TheLocal.ch:

Minister urges tax hikes for Italian frontaliers

Switzerland needs to change its agreement with Italy over the taxation of cross-border workers to make it less appealing for them to work in the canton of Ticino, Swiss Finance Minister Eveline Widmer-Schlumpf says.

Widmer-Schlumpf made the comment during a meeting with the cantonal government of Ticino on Wednesday, broadcaster RTS reported.

The federal cabinet minister said that cross-border workers, known as “frontaliers”, who live in Italy currently pay Swiss tax rates, deducted at source, which are lower than those paid in their home country.

On to Lisbon with a warning from EUbusiness:

Eurogroup warns Portugal on bailout exit

There will be no turning back for Portugal when it makes a clean exit from its bailout this month without a credit safety net, the president of the Eurogroup warned Thursday.

“A precautionary credit line by definition is asked for in advance,” Dutch Finance Minister Jeroen Dijsselbloem said in an interview with Portuguese daily Expresso.

But if the request is made later “when conditions turn bad, it is no longer a precautionary credit line” and Portugal would then require a new rescue programme, he said.

Next up Spain, and austerian bondage from El País:

Brussels asks Spain for two more years of belt-tightening

  • More cuts likely to be counterproductive in a country that faces a winter of discontent on job front

Economic recovery is taking hold, the banking system has improved, unemployment is beginning a timid retreat, the European bank bailout has worked, and public finances are stabilizing. Spring is in the air in the reports coming out of Brussels and the statements coming out of government officials’ mouths.

But despite the good news, the European Commission wants Spain to have an extra spoonful of the same medicine. While its deficit targets for 2014 will be easily met, things are not so clear for the years 2015 and 2016, leading Brussels to request “considerable additional discretionary efforts.”

In other words, what the European executive wants to see is more cuts, according to the first report following Spain’s clean exit from the banking bailout.

El País again, this time with a culture war development:

Spanish Congress to examine controversial abortion reform in July

  • Socialists suspect conservative government is delaying passage of bill until after European elections

Justice Minister Alberto Ruiz-Gallardón is planning to take his abortion reform to Congress in July, when parliamentary groups will analyze it and suggest amendments, government sources told EL PAÍS.

The executive of Mariano Rajoy is firmly set on getting this controversial piece of legislation approved, although it is making sure that its passage through parliament does not coincide with the campaign run for the European elections on May 25.

Ever since December 2013, when the cabinet approved the controversial draft bill changing existing abortion laws – which critics say will take Spain back 30 years – opposition has been growing on the streets, in parliament and even within the ruling Popular Party (PP) itself, some of whose members have spoken out against the reforms.

And it’s on to Italy and some Bunga Bunga blowback from TheLocal.it:

Ex-Berlusconi MP arrested over mafia links

A former minister in Silvio Berlusconi’s last government has been arrested for allegedly helping a businessman, convicted of collusion with the mafia, escape Italy.

Claudio Scajola has been arrested in Rome for allegedly helping Amedeo Matacena, a Calabrian businessman escape a five-year jail term after his conviction for mafia association was handed down last year, Corriere della Sera reported on Thursday.

Matacena fled Italy for Dubai last year.

Berlusconi said he was “pained” to hear about Scajola’s arrest but did not know what the reasons behind it where.

And from TheLocal.it again, more corruption:

Milan Expo manager arrested for corruption

A manager for Milan Expo 2015 has been arrested while five others have been jailed as part of an investigation into a corruption scandal that also caught ex-politicians allegedly taking bribes, Bloomberg reported on Thursday.

Angelo Paris, head of contracts for the trade fair, which runs in Milan between May and October next year, is in custody, Milan Prosecutor Edmondo Bruti Liberati told the financial newswire in an e-mailed statement.

Police carried out searches at 80 public entities and firms in parts of northern Italy and Rome, with businessmen and politicians being snared on video allegedly taking bribes to secure Expo contracts.

After the jump, the latest disturbing developments from Greece, Russian economic stress, Ukrainian tension, Argentine woes and a Venezuelan crackdown, Indian pollution, Thai turmoil continues, a Chinese upturn, a mixed report card for Japan, environmental woes, anbd the latest in Fukushimapocalypse Now!. . . Continue reading

Headlines: EconoEcoKleptoMegaManiacs


Once again, a collection of things economic, political, ecological, and more, complete with Fukushimapocalypse Now!

First up, from TechWeekEurope, an ominous notice that Big Brother intends you to wear him, ushering in the dawn of a new era of Taylorism:

Research Proves Wearable Tech Increases Employee Productivity

  • Rakspace says the main challenge now is harvesting data generated by employees’ devices for analytics

Adoption of wearable technology in the workplace can increase staff productivity and job satisfaction, suggests research commissioned by Rackspace.

However, IT professionals have raised concerns about the security of newly-generated data and the sudden increase in IT workloads caused by the introduction of devices like the Fitbit, Pebble and Google Glass.

The findings are the result of the Human Cloud at Work project [PDF], which looks at the impact wearable devices could have on the corporate environment.

Next up, a delay for a key piece of the neoliberal, Ayn Randian agenda from Global Times:

US senators voice concerns over prospects of TPP trade talks

US senators expressed on Thursday concerns over the prospects of a Trans-Pacific Partnership (TPP) trade deal despite progress made last week between the United States and Japan.

Orrin Hatch, the top Republican at the Senate Finance Committee, said the administration’s trade agenda was at risk of failure without trade promotion authority (TPA).

“I do not believe you can conclude high-standard agreements that will meet Congress’ approval without TPA,” he said during a hearing of the Senate Finance Committee. “History tells us very clearly that without TPA, your trade agenda will almost certainly fail.”

TPA, known as “fast track” trade legislation, provides that Congress must vote up or down on a proposed trade agreement without the possibility of amendment. Without that guarantee, it’s more difficult for other negotiating countries to make significant concessions.

Another significant voice joins in, via Open Media:

Top U.S. Senator: TPP’s secrecy must end and the agreement must “reflect the need for a free and open Internet”

On April 30th, 2014, over 3.1 million citizens and over 50 organizations united in a historic campaign to Stop The Secrecy around the Trans-Pacific Partnership (TPP). Our campaign culminated in our biggest and brightest projection in Washington D.C. last night – check out the images here.

Then, the next day, one of the most powerful members of the United States Congress, Senator Ron Wyden (D-OR) spoke out during a crucial Senate Hearing to call for an end to the extreme secrecy around the Trans-Pacific Partnership.

Senator Wyden explained, “Too often, there is trade secrecy instead of trade transparency. Bringing the American people into full and open debates on trade agreements that have the effect of law is not too much to ask.” In addition, Wyden also assured citizens that any agreements – including the TPP, “must reflect the need for a free and open internet, strong labor rights, environmental protections, and must be backed by stronger enforcement.”

From the Economic Times, a needed qualification:

Why the US unemployment rate dropped to 6.7%

The unemployment rate plunged for adult high school drop-outs to 8.9 percent from 9.6 percent. But April was a cruel period for them: The number of employed high school drop-outs fell to 9.9 million from 10.1 million. More than 200,000 of them lost jobs.

Their unemployment rate fell because even more of them _ 308,000 _ retired, gave up their search or never started looking for work. That’s a huge negative.

The overall unemployment rate fell primarily because fewer people started looking for work in April. More than 4 million Americans typically do so each month. But in April, only 3.7 million did.

That caused the number of people either working or looking for work to shrink, which, in turn, contributed to lower unemployment rates.

From the New York Times, notable numbers:

Why the Housing Market Is Still Stalling the Economy

Except in a few booming markets, housing is nowhere close to pulling its economic weight. Consider this:

Investment in residential property remains a smaller share of the overall economy than at any time since World War II, contributing less to growth than it did even in previous steep downturns in the early 1980s, when mortgage rates hit 20 percent, or the early 1990s, when hundreds of mortgage lenders failed.

If building activity returned merely to its postwar average proportion of the economy, growth would jump this year to a booming, 1990s-like level of 4 percent, from today’s mediocre 2-plus percent. The additional building, renovating and selling of homes would add about 1.5 million jobs and knock about a percentage point off the unemployment rate, now 6.7 percent. That activity would close nearly 40 percent of the gap between America’s current weak economic state and full economic health.

Resistance, via Al Jazeera America:

Postal workers resist privatization plans

Employees fear outsourcing of mail processing to Staples store counters and potential sale of post office branches

In a recent video message posted to the U.S. Postal Service’s YouTube channel, Postmaster General Patrick Donahoe appeared incredulous and indignant about protests that have erupted across the nation over changes he’s instituted. “There’s no interest in privatizing,” he said. “Do not let people get you confused.”

If that message was aimed at soothing the increasing nervousness on the part of postal employee unions, the postmaster failed to deliver. As seen in the simultaneous demonstrations in 27 states last week, as well as the postal employees’ presence at International Workers’ Day rallies on Thursday, several decisions by Donahoe have only heightened fears among America’s postal workers.

The most visible sign of union angst is the movement to thwart Donahoe’s aim of putting full-service USPS counters in 1,500 Staples stores, to be staffed with the office supply chain’s own, lower-paid employees. Yet that’s just the latest in a string of changes that seem geared toward outsourcing various postal jobs, which include efforts to consolidate processing plants and contract out the trucking of mail from plants to post offices.

From the Los Angeles Times, another notable number:

Seattle mayor proposes $15 minimum wage

A day after Republicans in the U.S. Senate quashed an effort to raise the federal minimum wage to $10.10 an hour, Seattle Mayor Ed Murray announced a proposal Thursday for a $15 municipal minimum wage that he said would “improve the lives of workers who can barely afford to live” in this high-tech city on Puget Sound.

Declaring it a “historic” day for progressives seeking to address the issue of income inequality, Murray laid out his complex and controversial proposal, which would be phased in over several years at different rates for large and small businesses. At least initially, income from tips and employer-provided health insurance would be taken into account.

If the City Council agrees, Murray said, Seattle will prove itself to be “an incubator of democracy,” leading the national conversation to address “the growing problem of income inequality.

And for our final U.S. item, the arrival of a filler four times deadlier than SARS from The Wire:

MERS Reaches the U.S. for the First Time

Officials from the Centers for Disease Control said on Friday that a case of Middle East Respiratory Syndrome (MERS) has been detected in the U.S. for the first time. The CDC said the MERS-infected patient is a healthcare worker who came to Indiana from Saudi Arabia, adding that it is collaborating with Indiana health officials to investigate the case. Per the CDC:

On April 24, the patient traveled by plane from Saudi Arabia to London, then from London to Chicago. The patient then took a bus from Chicago to Indiana. On the 27th, the patient began to experience signs of illness, including shortness of breath and coughing. The patient went to an emergency department on April 28th. Because of the patient’s symptoms and travel history, Indiana public health officials had him tested for MERS.

MERS, a SARS-like virus that was first detected in 2012, has largely affected patients in Saudi Arabia, but has broken out throughout the Middle East and has made an appearance in Greece, Britain, France, Italy, Malaysia and other countries. Since 2012, more than 300 Saudi Arabians were hit with the virus, and local officials have reported a recent surge in patients. Only about two-thirds of those diagnosed with the virus survived.

Off to Europe and qualified relief from Reuters:

Euro zone joblessness barely falls in March

The number of people out of work in the euro zone fell slightly in March but remained near a record high, a sign that European households are yet to feel the bloc’s economic recovery and are unlikely help generate growth in the short term.

Around 18.91 million people were jobless in the 18-nation bloc in March, 22,000 less than in February, or 11.8 percent of the working population, the EU statistics office Eurostat said on Friday.

That is slightly down from the record 12-percent level a year ago, while the 11.8 percent reading was the same as in February. The February reading was revised down by Eurostat from 11.9 percent earlier.

So what do the numbers show for the European Union? A spectrum ranging of Austrian at the low of 4.9 percent to Greece, with a high of 26.7 percent. Via Eurostat [PDF], click on the image to enlarge:

The two darker areas reflected the 28-member European Union and the 18.member common currency zone, the euro area.

The two darker areas reflected the 28-member European Union and the 18.member common currency zone, the euro area.

Reuters again, and more qualified numbers:

Euro zone factory recovery broadens, except for France

The recovery in euro zone manufacturing accelerated at the start of the second quarter with solid growth across most of the bloc although French factories struggled to maintain momentum, a business survey showed on Friday.

Growth was again led by Germany, Europe’s largest economy, and previously-lagging companies in Spain and Italy reported better business last month.

It was the first time since November 2007 that all PMIs in the region indicated growth – coming in above the 50 break-even level.

On to austerian Britain and some truly grim numbers from The Independent:

UK has second-worst child mortality rate in Western Europe, study finds

  • Leading doctors and midwives accuse Government of ‘failing to protect’ British children

The UK has the second-worst child mortality rate in Western Europe, a major new study has revealed, as leading doctors and midwives accuse the Government of “failing to protect” British children during the financial crisis.

In findings which were described as “shocking” by children’s charities, and which caused surprise among the researchers themselves, the UK ranked behind much poorer countries such as Cyprus and Greece and for prevention of mortality in under-fives.

The under-five mortality rate for the UK was 4.9 deaths for every 1,000 births. Only Malta, a country which ranks well behind the UK in terms of wealth, performed worse in the Western European region. The UK mortality rate was more than twice as high as the best-performing country, Iceland, and 25 per cent higher than the Western European average.

The Guardian covers more dubious numbers:

British aid money invested in gated communities and shopping centres

  • CDC development fund insists projects will create jobs in poor countries but NGOs accuse government of helping big business

Millions of pounds of British aid money to tackle poverty overseas has been invested in builders of gated communities, shopping centres and luxury property in poor countries, the Guardian can reveal.

CDC, the little-known investment arm of the British aid programme, has invested more than $260m (£154m) in 44 property and construction companies in Latin America, Africa and Asia.

At least 20 of these are hotels, shopping centres or companies that build or manage gated communities and luxury property, according to Guardian research.

On to Sweden, and some non-metaphorical alarm bells from TheLocal.se:

Neo-Nazis spark first church alarm since WWII

The churches in Jönköping rang their bells in warning for two hours on May Day as neo-Nazis took to the streets. The alarm marked the first of its kind for the central Sweden town since World War II broke out.

“We chose to ring the bells because we think it’s a threat to our open society when our streets play host to messages that do not respect every person’s value and dignity,” Swedish Church (Svenska Kyrkan) priest Fredrik Hollertz told The Local on Friday.

“We wanted to use what we used in the days of old.”

On to Germany and more interesting numbers from the London Telegraph:

Germany’s interest in Adolf Hitler at record levels

  • Germans more interested in Adolf Hitler than at any time since the Allied defeat of his Third Reich at the end of the Second World War, study finds

Germans are more interested in Adolf Hitler that at any time since the end of the Second World War, a new study has concluded.

The German Media Control research group, which monitors broadcasting, found that documentaries about Hitler are aired twice a day on German television channels and that books and films about the Nazi leader are being produced in record numbers.

It established that 242 programmes dealing specifically with Hitler had been shown on television during the first four months of 2013, while 500 other films and documentaries that had dealt with the Nazi era in general had also been aired.

Some 2,000 books on Hitler were published in Germany last year.

Next, France, and yet more interesting numbers from TheLocal.fr:

Is France really a nation of Eurosceptics?

A recent poll showed fewer than half of the French people believe the EU is a good thing for their country, which is a troubling trend for one of the union’s founders. The Local hit the streets to find out if the French really have become a nation of Eurosceptics.

With European parliament elections just weeks away the French may be having a British moment.

A poll commissioned by French daily Le Figaro recently found that only 44 percent of the French people think the European Union is good for their country, which appears at a first sight a dizzying plummet in one of the Union’s founders and an arch promoter of the project.

But the apparent turning of the tide against the EU has been growing for some time. A study last year showed the French public were rapidly falling out of love with Brussels. What was perhaps most alarming was that the widespread disaffection with the union was spreading quicker in France than in any other country on the continent.

TheLocal.fr again, and a decision sure to please the resurgent Right:

Landmark ruling bars lesbians from adopting

In a landmark decision a lesbian couple were barred from adopting a child, who was conceived through artificial insemination outside France. One gay-rights group slammed the decision saying “Children of LGBT families are the new bastards of the Republic”.

Judges in Versailles refused a request this week by a lesbian woman to adopt a 4-year-old child, who was conceived in Belgium by her partner, thanks to medically assisted procreation (MAP) or artificial insemination.

Currently in France methods of medically assisted procreation like IVF are reserved only for heterosexual couples, who have difficulty having children. However thousands of babies are thought to be born in France each year that were conceived abroad through articificial insemination.

On to the Alps, with TheLocal.ch:

Swiss have world’s highest prices: new study

Residents who find Switzerland to be a costly place to live now have more proof: the mountain country ranks as the most expensive nation on the planet, according to a new study from the World Bank.

The International Comparison Program report, released on Tuesday in the US, compares purchasing power and real expenditures of 177 countries using statistics from 2011.

Switzerland ranks ahead of Norway, Bermuda, Australia and Denmark in the table for highest “price level indexes,” the report says.

Portugal next, with an imprimatur from ANSAmed:

Portugal passes latest troika test

  • 2014 growth to be at 1% of GDP, says deputy PM

The Portuguese government announced on Friday that the so-called troika of international creditors (ECB,EU, and IMF) had approved the efforts undertaken by the country to comply with the aid program agreed three years ago in exchange for a 76-billion-euro loan.

‘’The twelfth assessment was positive,’‘ Deputy Prime Minister Paulo Portas said in a press conference, underscoring the ‘’climate of confidence coming from all European markets.’‘ Portas added that the international creditors had urged the government to push forward with reforms that the opposition, unions and most citizens – including military and police associations – are against.

The deputy prime minister underscored that at the June 2011 swearing in of Pedro Passos Coelho’s conservative government, interest rates on ten-year government bonds had stood at 10.6%, whereas they have now dropped to 3.6%.

The Portugal News charts a financial invasion:

Brits lead property sale surge

The sale of property in Portugal has recorded positive growth during the first quarter of 2014, the Chairman of National Real Estate Association (APEMIP) revealed this week, with the appetite of British buyers for Portuguese houses showing renewed signs of recovery.

Luís Lima explained that foreign investment played a considerable role in the improvement of the national real estate market, representing 14 percent of the total number of sales during the first three months of the year. However, estimates are that this percentage is substantially greater when solely taking into consideration the monetary value of property sales involving foreign buyers.

“A factor which helped boost figures this past quarter most was the increase in foreign investment and, for example, we started seeing more sales in the Algarve”, Luís Lima told the Lusa News Agency after the release of the association’s latest numbers.

The APEMIP chief put the latest “animated figures” for the first quarter down to mounting interest from foreign buyers, revealing that a total of 24,000 properties changed hands between January and March.

The Portugal News, with an anti-stricke strike:

Inmates launch hunger strike against strike

Fifteen inmates being held in the Monsanto maximum security prison have launched a hunger strike to protest against strike action being taken by prison guards.

According to a report by newspaper Diário de Notícias the inmates are taking action of their own in protest to the guards’ strikes which reduce their access to phone calls and visits.

On to Spain with El País, and that old hard times intolerance, taking the field:

Just another “isolated” racist incident?

  • The throwing of a banana at Barça’s Alves highlights the reluctance to tackle racial abuse in sport

The initial response of the authorities to the banana that was thrown at Barcelona’s Dani Alves during an away match at Villarreal on April 27 was that it was an isolated incident. The problem is that the history of sport, in Spain and around the world, is full of isolated incidents. And after a while, they all add up.

Which is not to say that in some countries action isn’t finally being taken against racism in sport. Donald Sterling, the owner of the Los Angeles Clippers basketball franchise, was recently banned for life from the game, and will likely be forced to sell up after he was recorded telling his girlfriend in no uncertain terms that he didn’t want her bringing black people to games.

“The attitude of the State Commission Against Violence and Racism is lazy and laissez-faire,” says Esteban Ibarra, a member of the two anti-racist organizations in Spain. “All that happens here is that we cover up racism and violence.” It is an attitude that many sports fans will recognize from the way the Spanish authorities have failed to deal with doping.

A provocative push with a purpose from TheLocal.es:

Spanish region to tax owners of empty homes

Spain’s Catalonia region is looking at taxing the owners of properties that have stood empty for more than two years in a bid to increase stocks of social housing.

Under the draft legislation, property owners would have to register properties that have been empty for more than two years as of January 1st 2015. They would then be taxed accordingly. The planned tax is targeted primarily at financial institutions and would be gradual, with annual taxes levied on each property of €500 ($690) to €16,500 depending on how many properties are owned.

The proposal will help breathe life into a market where 15,000 people lost their homes in 2013, Catalonia’s government said in a statement.

On to Italy and a truly gruesome crime from TheLocal.it:

‘Mafia is behind stolen anti-cancer drugs’

A highly organized crime ring is behind the distribution of stolen and fake anti-cancer drugs throughout Europe, an Italian official told the Wall Street Journal on Thursday.

Domenico Di Giorgio, the director of the prevention of counterfeiting at the Italian Medicines Agency, the pharmaceutical watchdog, said that “organized crime is certainly involved” in the racket, which has raised concern among pharmaceutical professionals that the drugs may be inefficient or even deadly.

Di Giorgio’s agency is currently carrying out an investigation into the matter along with the Italian antifraud squad, the Nuclei Antisofisticazioni e Sanità Carabinieri.

“There’s a central structure apparently based in Italy that commissions thefts of medicines in hospitals,” he was quoted by the newspaper as saying.

After the jump, the latest from Greece [and lots of it], boycotts and bailouts in the Ukrainian/Russia conflict, a provocative Israeli move, Brazilian drought and a political preemption, a seismic economic shift in Asia, Chinese financial developments [including a bubble alert], Japanese bankster boosterism, TPP demands, environemtnal woes, visions of epidemics, and the latest chapter of Fukushimapocalypse Now!. . . Continue reading

Headlines I: EconoPoliBankoEcoFukuFollies


A huge amount of fascinating stories about currents in play in our increasingly neoliberalized global physical and fiscal world. We’re following up with another headline set devoted to the dark arts of militarism, espionage. drones, and suchlike.

We open with an ominous report of a global phenomenon from the Times of India:

World’s coastal megacities sinking 10 times faster than rising water levels

Scientists have issued a new warning to the world’s coastal megacities that the threat from subsiding land is a more immediate problem than rising sea levels caused by global warming.

A new paper from the Deltares Research Institute in the Netherlands published earlier this month identified regions of the globe where the ground level is falling 10 times faster than water levels are rising — with human activity often to blame.

In Jakarta, Indonesia’s largest city, the population has grown from around half a million in the 1930s to just under 10 million today, with heavily populated areas dropping by as much as six and a half feet as groundwater is pumped up from the Earth to drink.

The same practice led to Tokyo’s ground level falling by two metres before new restrictions were introduced, and in Venice, this sort of extraction has only compounded the effects of natural subsidence caused by long-term geological processes.

It’s just not the oceans that are rising, at least for the moment. From Reuters, a story to read with tongue in cheek:

U.S. consumer confidence near six-year high, home prices rise

U.S. consumer confidence dipped in April but remained near a six-year high, while home prices rose in February, suggesting the economy continued to regain momentum after a winter lull.

The Conference Board said its index of consumer attitudes dipped to 82.3, the second-highest reading since January 2008, from an upwardly revised 83.9 in March.

An unusually cold and snowy winter disrupted economic activity early in the year.

From The Progressive, predictable results:

Scathing Report Finds Rocketship, School Privatization Hurt Poor Kids

Gordon Lafer, a political economist and University of Oregon professor who has advised Congress, state legislatures, and the New York City mayor’s office, landed at the airport in Milwaukee, Wisconsin, late last night bringing with him a briefing paper on school privatization and how it hurts poor kids.

Lafer’s report, “Do Poor Kids Deserve Lower-Quality Education Than Rich Kids? Evaluating School Privatization Proposals in Milwaukee, Wisconsin,” released today by the Economic Policy Institute, documents the effects of both for-profit and non-profit charter schools that are taking over struggling public schools in Milwaukee.

“I hope people connect the dots,” Lafer said by phone from the Milwaukee airport.

From The Verge, a program to suit the era of standardized tests and computerized grades:

This machine can write a grade-A paper in less than a second

  • Machines fooling machines

Les Perelman, a now retired former director of writing for MIT, has long been against the idea of using machines to grade essays. “I’m a skeptic,” he told the New York Times in 2012 — and now he’s built his own machine to prove his skepticism right.

Called the Babel Generator — short for Basic Automatic BS Essay Language Generator — the software is able produce complete essays in less than a second, and all you have to do is feed it up to three keywords. The essays are grammatically correct but nonsensical. The goal isn’t to produce great writing, though, it’s to fool other machines: Babel was designed specifically to prove that essay-grading software doesn’t effectively analyze things like meaning and isn’t able to check facts. Perelman’s gibberish essays have managed to get high scores on automated tests like MY Access!, with grades like 5.4 out of 6.

Various studies have shown that automated software often scores papers roughly the same as its human counterparts, and the software is gaining popularity at schools simply because it can grade papers so much faster than teachers. Previously, Perelman had managed to fool these algorithms with essays that employed a few simple tricks, using lengthy words and sentences, as well as connective words like “however.” Some developers — including a team at MIT, building software called EASE (Enhanced AI Scoring Engine) — are even trying to create automated systems that are more human by mimicking how actual professors grade.

From the Los Angeles Times, a reminder that the homeless aren’t homogeneous:

She’s homeless and likes it that way

Annie Moody has been arrested 59 times in six years, as L.A. officers try to get her off the streets of skid row. But to her, that’s home.

Moody has been arrested by Los Angeles police 59 times in roughly six years, according to LAPD arrest data — more than anyone else in the city. Since 2002, she has been tried 18 times, convicted 14 times and jailed for 15 months, costing taxpayers at least a quarter of a million dollars, according to court and law enforcement records.

Under a court settlement, homeless people can sleep on the sidewalk overnight but must be up by 6 a.m. or face charges of resting on the sidewalk or having an “illegal lodging.” Most of the 1,000 or so street dwellers on skid row fear arrest and move along, if only temporarily.

Authorities say she has turned down dozens of offers of shelter or services for the homeless. Friends believe police target her because she stands up for her rights. Police describe her as a homeless “anchor” whose defiance encourages others to remain in the streets, undermining efforts to clean up skid row.

From The Guardian, a story that should weigh on the minds of folks who probably don’t even care:

US death row study: 4% of defendants sentenced to die are innocent

Deliberately conservative figure lays bare extent of possible miscarriages of justice suggesting that the innocence of more than 200 prisoners still in the system may never be recognised

At least 4.1% of all defendants sentenced to death in the US in the modern era are innocent, according to the first major study to attempt to calculate how often states get it wrong in their wielding of the ultimate punishment.

A team of legal experts and statisticians from Michigan and Pennsylvania used the latest statistical techniques to produce a peer-reviewed estimate of the “dark figure” that lies behind the death penalty – how many of the more than 8,000 men and women who have been put on death row since the 1970s were falsely convicted.

Apathy by the numbers from United Press International:

Poll: Most millennials not planning to vote in November

  • Higher percentage of young conservatives plan to vote in November than young liberals.

23 percent of the millennial generation plan to vote in the U.S. midterm elections in November, according to a poll released Tuesday.

The Harvard Institute of Politics said there has been a marked drop in political enthusiasm among those aged 18 to 29 in the past few months. In November, 34 percent of that age group said they would probably vote.

The news is bad for the Democrats, since the current generation of 20-somethings tends to lean in their direction. Even worse, the poll found, that millennials with conservative views are more likely to say they will be voting than those who lean liberal.

SINA English covers imperial expansion:

Disney says to spend $800M on Shanghai theme park

Disney says it and its Chinese partner will spend $800 million more on their Shanghai theme park, bringing the total investment to nearly $5.5 billion.

The extra spending will go toward more attractions, entertainment and other offerings. Most of the additions are targeted to be completed by opening day, which is aimed for the end of 2015.

CEO Bob Iger said in a statement that Disney has been impressed with the growth of China’s economy, the expansion of the middle class and a significant increase in travel and tourism.

While Computerworld frets:

White House sees ‘real danger’ China will soon take R&D lead

  • Spending on research drops as Congress pursues austerity

Compared to the rest of the world, the U.S. continues to lead in spending on research and development (R&D). But the rate of spending by other nations — China, in particular — is increasing at a faster pace. This fact is creating angst in Congress.

At a Senate Appropriations Committee hearing today on U.S. R&D spending, Sen. Barbara Mikulski (D-Md.) the committee chairwoman, said that much of America’s “exceptionalism” comes from its investment in science. “We cannot afford to let other countries out-invest or out-innovate the U.S.,” she said.

But the committee’s ranking member, Richard Shelby (R-Ala.), threw cold water on Mikulski’s rallying call for R&D support, by linking federal debt and mandatory spending to science spending.

From New Europe, The Lobby swings into action [unction?]:

Kerry backs off Israel ‘apartheid’ remark after withering criticism

Secretary of State John Kerry says he chose the wrong word in describing Israel’s potential future after coming under withering criticism for saying the Jewish state could become an “apartheid state” if it doesn’t reach a peace deal with the Palestinians.

In a statement released by the State Department Monday, Kerry lashed out against “partisan political” attacks against him, but acknowledged his comments last week to a closed international forum could have been misinterpreted. While he pointedly did not apologize for the remarks, he stressed he was, and is, a strong supporter of Israel, which he called a “vibrant democracy.”

He said his remarks were only an expression of his firm belief that a two-state resolution is the only viable way to end the long-running conflict. And, he stressed, he does not believe Israel is, or is definitely track to become, an “apartheid state.”

TheLocal.ch gives it up for Rummy:

Donald Rumsfeld ‘gets Swiss social benefits’

Donald Rumsfeld, the controversial former US secretary of defence, is receiving around 5,000 francs ($5,680) a year in benefits from the Swiss social security system (AHV), according to a news report.

Rumsfeld, condemned for authorizing torture in the Iraq as head of the military under former president George W. Bush, receives 400 francs a month from the AHV, the Tages Anzeiger newspaper reported on Tuesday.

The 81-year-old and his wife have probably been receiving the pension since the summer of 1997, the Zurich-based daily said.

He was entitled to this pension benefit from his position on the board of directors of Swiss engineering and technology company ABB, Tages Anzeiger said.

And here at home, a less harmonious scene from Frontera NorteSur:

Life, Death and Struggle on New Mexico’s Mean Streets

Albuquerque’s Wyoming Boulevard bustles on the edge of what some people call the War Zone and others name the International District.  Both names really fit, but perhaps in ways not completely envisioned by the architects of popular lingo.

Here, the urban geography is imprinted with the social shrapnel of foreign and domestic wars, global migration and the cycles of capitalism. Gang conflicts, domestic violence, substance abuse, and prostitution have long rattled the zone, where many families nonetheless live, love, work and attempt to get ahead.

A rainbow of the human race inhabits this section of the city’s Southeast Heights-refugees from Southeast Asian wars, Native Americans from the reservations of Manifest Destiny, Mexicans from the collapsing campo and imploding cities of the NAFTA zone, struggling retirees from the USA of yesteryear.

And from the Associated Press, it oughta be a crime:

Oklahoma inmate dies after execution is botched

An Oklahoma inmate whose execution was halted Tuesday because the delivery of a new drug combination was botched died of a heart attack, the head of the state Department of Corrections said.

Director Robert Patton said inmate Clayton Lockett died Tuesday after all three drugs were administered.

Patton halted Lockett’s execution about 20 minutes after the first drug was administered. He said there had been vein failure.

On to Europe and waning homes from Reuters:

Euro zone sentiment, inflation expectations dip in April

Euro zone economic sentiment deteriorated slightly in April, defying forecasts of further improvement, while inflation expectations continued to fall, European Commission data showed on Tuesday.

The monthly Commission survey showed that economic sentiment in the 18 countries sharing the euro eased to 102.0 in April from 102.5 in March, mainly because of a dip in confidence in the construction sector and in services.

Economists polled by Reuters had expected an improvement to 103.0 in April.

EUbusiness concentrates power:

EU anti-fraud chief sees need for Europe-wide prosecutor

The head of Europe’s anti-fraud agency has backed calls to establish a public prosecutor’s office to probe and prosecute crimes committed against the European Union’s financial interests.

Giovanni Kessler, director general of the EU’s anti-fraud office OLAF, told AFP the mooted public prosecutor would be a “natural evolution” which would allow for “fully fledged criminal investigations.”

OLAF, which was established in 1999, has the power to investigate fraud and corruption in EU institutions. However, it must then hand over evidence gathered to national prosecutors in the EU’s 28 member states.

And from The Independent, a polarizing threat from 10 Downing Street:

David Cameron would quit as Prime Minister after general election if he could not deliver on in-out EU referendum pledge

David Cameron pledged tonight to step down as Prime Minister after next year’s general election if he could not deliver on his promise to hold a referendum on Britain’s membership of the European Union.

His comments indicate that the pledge to stage the EU vote in 2017 would be a “red line” for the Conservatives in any post-election negotiations to form a Coalition government.

In a conference call with party stalwarts, Mr Cameron said he would not “barter or give away” his in-out referendum promise.

Last year the Prime Minister said he would wrest back powers from Brussels and put the deal he negotiates to the public in the first referendum on EU for more than 40 years.

Meanwhile, the HeraldScotland discovers another threat, Mother Nature:

Volcanic blast ‘as great a threat to UK security as nuclear terrorism’

AN ERUPTION of a supervolcano in Iceland should pose as great a threat to Britain as nuclear terrorism, according to a high level UK government report.

The warning was made by a group of academics and scientists from the British Geological Survey and the Met Office, which also involved geologists from Edinburgh University.

They argue that certain types of eruptions of Icelandic volcanoes, known as effusive gas-rich eruptions, should be considered an immediate risk to human health and the environment for much of northern Europe.

On to Ireland, where rich crooks get the usual wrist-slap, via TheJournal.ie:

No jail time for convicted Anglo pair, judge says prison sentences would be ‘incredibly unjust’

  • Pat Whelan and Willie McAteer will now be assessed for suitability for community service.

ANGLO EXECUTIVES PAT Whelan and Willie McAteer will be assessed for community service following their conviction for their roles in providing illegal loans totalling €450 million to 10 individuals.

Judge Martin Nolan said that it would be ‘unjust’ to impose prison sentences on the Anglo pair because a State agency “led them into error and illegality”.

The judge said that he could not be certain Whelan or McAteeer knew they were in breach of the law but were, nonetheless, in breach.

Next up, Germany, starting with bankster anxieties from Deutsche Welle:

Deutsche Bank still waiting for profit boost

Germany’s biggest lender is still struggling to enhance its profit. Although first-quarter business was ‘resilient’ and legal costs could be curbed, sluggish investment banking weighed on earnings.

Deutsche Bank announced Tuesday its net profit dropped by no less than 34 percent in the first three months of the year as slower trading of bonds and foreign exchange factors weighed on its business.

Deutsche said it earned 1.10 billion euros ($1.52 billion), compared with 1.66 billion euros in the same period last year.

The Frankfurt-based lender also took over half a million euros in losses from its non-core unit keeping assets intended to be sold or wound down. The write-downs came at a special commodities group that took a huge hit on US power trading due to a price spike amid severe winter weather.

From Associated Press, echoes of another, earlier economic crisis:

Germany sees spike in left-wing violence

German authorities are reporting a rise in politically-motivated crimes over the last year, driven by a spike in left-wing violence and other illegal activity.

The Interior Ministry said Tuesday the far-right accounted for most such crimes with 17,042 acts in 2013, down 3.3 percent from 2012. More than two-thirds of those crimes were classified as propaganda, such as displaying the swastika or other banned symbols. Violent crimes dropped 0.6 percent to 837.

By contrast, leftist crimes rose 40.1 percent to 8,673 acts in 2013, nearly half of which were property damage. Violent crimes rose 28.4 percent to 1,659 — largely attacks on police and others during demonstrations.

Germany saw an 11.2 percent increase in anti-foreigner crimes to 3,248, but a 7.2 percent drop in anti-Semitic incidents to 1,275.

On to Paris and a “socialist” [sic] government’s austerian agenda from France 24:

French lawmakers approve €50bn deficit-reduction plan

France’s lawmakers Tuesday voted narrowly in favour of a plan to slash €50 billion from the country’s budget deficit by 2017, but a high abstention rate underscored discord within the Socialist majority.

The plan, designed to allow the eurozone’s second-largest economy to meet deficit-reduction commitments, passed with 265 votes in the National Assembly, France’s lower house of parliament, with 232 voting against and 67 abstaining.

The programme can now be submitted for approval to the European Commission, which has already granted France two extra years to bring its deficit below EU-mandated limits.

And from TheLocal.fr, hard times beget the usual scapegoats:

Paris cops told to ‘purge’ Roma from posh area

Police in Paris’s posh 6th arrondissement have been ordered to count up Roma people and “systematically purge” them from the area, media reports said [15 April]. The public outrage prompted by the orders forced France’s top cop to wade into the row.

An internal memo revealing police in the upscale 6th arrondissement of the French capital have orders to purge Roma people, their children and animals from the neighborhood has prompted outrage among officials and activists.

The memo, which was leaked to French daily Le Parisien, notes the order come directly from “police headquarters” and commands: “Effective immediately and until further notice, day and night personnel of the 6th arrondissement are ordered to find Roma families living in the street and systematically purge (évincer in French) them.”

While The Guardian covers French toxic worries:

French children exposed to dangerous cocktail of pesticides, campaigners say

  • Analysis of hair samples from youngsters living or studying near farms or vineyards found total of 624 pesticide traces

Children in agricultural areas are being exposed to a dangerous cocktail of pesticides, some of which are banned substances, a French health and environment group has claimed.

Générations Futures did independent analysis of the hair of young people living or studying near farms and vineyards after parents expressed worries about their children being exposed to poisons that could disrupt their endocrine system.

The group, a non-profit organisation specialising in the use and effects of pesticides on humans and the environment, says its findings confirmed their fears.

Next, on to Lisbon and another austerian agenda adopted from the Portugal News:

Government approves budget strategy document with €1.4bn in 2015 cuts

Portugal’s government on Monday approved a Budget Strategy Document (DEO) for the year covering the period to 2018, at a cabinet meeting that lasted around five hours, a government official told Lusa News Agency.
Government approves budget strategy document with €1.4bn in 2015 cuts

The document is understood to contain details of the spending cuts for next year 2015 that, according to the finance minister, Maria Luís Albuquerque, are to total €1.4 billion.

The DEO is a document that the government presents each year in April, and which looks ahead to revenues and spending to the coming years.

Spain next, starting with worrisome numbers from ANSAmed:

Spain’s jobless rate hits 25.9% in Q1

  • Almost 2 million households lack breadwinner

Spain’s unemployment rate rose in the first quarter of 2014 to 25.9% from a previous 25.73%, said the national institute of statistics INE on Tuesday.

There are almost two million households in the country in which all the members are unemployed. In the first quarter this category rose by 2.7% (53,100) to 1,978,900, but dropped on an annual basis by 1.7%.

INE noted that in the first quarter some 184,600 jobs had been lost (-1.08% on an annual basis), the smallest first quarter decrease since 2008. (ANSAmed).

TheLocal.se turns the tables:

Scores of Swedes beg in Spain’s tourist hotspots

A Swedish magazine sold by homeless people has caught the attention of the national media after it covered the homeless Swedes who beg in Spain’s most popular tourist areas.

Talk of Sweden and begging conjures images of eastern European migrants begging for change on Stockholm street corners. But few Swedes realize that hundreds of their own people are out begging on the streets of southern Europe — Spain, to be precise.

Faktum magazine, which is sold by homeless people in Gothenburg, released an issue on Tuesday that took a closer look at the phenomenon.

“The response has been tremendous really, gives people an important perspective on the debate in Sweden about poor EU migrants. There’s been a lot of discussion about Romanians and Bulgarians, but virtually nothing about Swedes who are begging in Spain, hoping for a somewhat better life,” Faktum editor Aaron Israelson told The Local.

TheLocal.es covers a taxing white sale:

Spanish tax office sells bras for extra cash

Fancy getting your hands on an oil painting, several tennis club memberships, or even a box of 50 bras? All of these items and many more are being auctioned off by Spain’s cash-strapped tax office.

Spain’s economic crisis has been hard on the country’s tax office.

While Spanish tax rates have shot up and are now among the highest in Europe, an unemployment rate of 26 percent and inefficient tax collection means the country is struggling to fill its public coffers.

But Spain’s tax office has found a hugely popular way to raise some much needed cash: online auctions.

From Rome, the threat of another Italian government collapse fr0m ANSA:

Renzi ready to quit if Senate reform fails

  • Premier not ready to go forward at all costs

Matteo Renzi reiterated Tuesday that he was ready to quit if his planned institutional reforms do not come to fruition.

He also told a meeting of his centre-left Democratic Party (PD) that he did “not accept” those who call his institutional reforms, including a revamp of the Senate, “authoritarian”. . The executive is trying to find a compromise over its bill to change the Constitution to overhaul the country’s slow, costly political apparatus, after recent friction about its intended transformation of the Senate.

The support of the opposition centre-right Forza Italia (FI) party for the reforms has looked in doubt in recent weeks, with its leader Silvio Berlusconi alternating between criticism of the plan and pledges to uphold it. Renzi won the agreement of three-time premier Berlusconi for the reforms at a meeting in January, a month before he toppled Enrico Letta, his colleague in the centre-left Democratic Party (PD), to become Italy’s youngest-ever premier at 39. The central part of the package is to turn the Senate into a leaner assembly of local-government representatives with minimal law-making powers to make passing legislation easier.

And a trip to Eastern Europe from EUobserver:

Anti-Roma views rampant across all Romanian political parties

Snow, wind and sub-zero temperatures descended on Romania in February, gridlocking the roads, isolating villages, killing pensioners and causing panic across the country.

Social Democratic Party (PSD) MP for Bucharest Dan Tudorache, a member of the Parliament’s foreign relations commission, chose this moment to post a public message on Facebook.

“It is minus 14 in Bucharest! Very cold!!!” he wrote. “So cold that I actually saw a gypsy with his hands in his pockets.”

For those unfamiliar with racist humour against Romania’s Roma minority, Tudorache was referring to the myth that ‘gypsies’ always have their hands exposed in the street so they can steal wallets and phones from passers-by.

After the jump, the latest tortuous twists in the Greek crisis, calls for regime change and car production in Brazil, Mexican telephonic discontent, poop protests, rare earths, and more from China, GMO rebuke, pollution woes, haughty sales staff justified, and questions raised about medical research. . . Continue reading

Map of the day: Bay Area’s most polluted sites


Detail from a statewide map created by the California Environmental Protection Agency’s new CalEnviroScreen online mapping tool of the state’s most polluted regions. We have heightened the contrast to bring out detail:

BLOG Pollution detail

More on the tool from Tony Barboza of the Los Angeles Times:

The California Environmental Protection Agency has released a statewide list of census tracts most burdened by pollution, providing a first-of-its-kind ranking certain to pressure regulators to clean up neighborhoods with long-standing health risks.

Many of the worst pollution pockets identified and mapped by state officials are in the San Joaquin Valley, Los Angeles County and the Inland Empire. Their residents are largely low-income Latinos who have had little power to force improvements in their communities.

By providing the public with an objective accounting of conditions in areas as small as a few thousand residents, Cal/EPA has created a powerful tool to spur regulators to act in highly polluted neighborhoods, state officials and environmental activists say.

“It is a major breakthrough that will give us a better opportunity to direct or redirect precious resources to the communities that need it the most,” said state Sen. Kevin de León (D-Los Angeles).

Most sites in the San Francisco Bay Area are in the East Bay, including Richmond, one of the region’s region’s poorest cities and with a large minority population. We wrote extensively about two adjoining Richmond sites during our years at the Berkeley Daily Planet, Campus Bay and the University of California’s Richmond Field Station.

More than $2 billion in developments at both sites [including nearly 1,500 units of housing] were halted, a change in regulatory oversight mandated, and more intensive cleanups ordered, in part, we were told, because of our reporting. Even then, there were case of serious misconduct on the part of both private developers and the university. And since the newspaper folded, no journalists have been following events at either site.

Keiser Report: Critical Ukrainian perspective


If you listen to the Obama administration and their allies on both sides of the political aisle, we’re obsessed with the Ukraine because some nasty Russians are imperializing and dreaming of Joe “The Boss” Stalin via his latter-day Putinesque incarnation.

But if the U.S. is really consumed by the need to get all aggressive over massive human rights abuses, then why aren’t we threatening Saudi Arabia, where women can’t drive and are subjected to arbitrary whims of a religious paramilitary police — the same zealots who forced a dozen girls to burn to death simply because they tried to flee their burning quarters quarters before they had a chance to don the clerically required garb?

And why not send warships off Brunei, where it’s going to be legal this coming Tuesday to order the stoning deaths of practicing gays? Or Uganda, where men are facing life in prison simply for the way they chose to ejaculate.

In the second half of this latest episode of the Keiser Report, an Oakland, California, journalist reveals some of their deeper motivations for American concern about control of the Ukraine.

And don’t be surprised if one of the players is a major multinational with a huge and controversial presence in the San Francisco Bay Area.

From the Keiser Report:

Keiser Report: Ukraine’s Big Oil & Big Angst (E590)

Program notes:

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss American injustice in the age of the wealth gap and Weev’s hedge fund trolling. In the second half, Max interviews JP Sottile of Newsvandal.com about Big Oil and Big Ag in Ukraine. Sottile names the people and corporations hoping to exploit the Ukrainian agricultural sector.

Newsvandal’s an interesting alternative news site, and Oaklander JP Sottile raises the right questions, ones that aren’t raised prominently or at all in the dying lamestream media.

Headlines of the day II: EconoPoliEcoFukuFolly


We begin today’s headlines from the economic, political, and environmental realms with the inevitable outcome of a healthcare system that isn’t public, via the New York Times:

Health Care Law May Result in 2 Million Fewer Full-Time Workers

A new analysis from the Congressional Budget Office says that the Affordable Care Act will result in more than 2 million fewer full-time workers in the next several years, providing Republican opponents of the law a powerful political weapon leading up to this years midterm elections.

The law is also expected to have a significant effect on hours worked, the nonpartisan budget office said in a regular update to its budget projections released Tuesday. With the expansion of insurance coverage, more workers will choose not to work and others will choose to work fewer hours than they might have otherwise, it said. The decline in hours worked will translate into a loss of the equivalent of 2.5 million full-time positions by 2024, the budget office said.

Republicans immediately seized on the report as evidence of the health care law’s adverse effect on the economy.

From USA TODAY, third third state?:

Alaska moves toward August vote on legal pot

Alaska could be the next state to reconsider the prohibition on marijuana, following legalization votes by Colorado and Washington last year.

Alaska elections officials posted data Tuesday showing that a petition for a statewide vote on marijuana legalization has gained enough signatures and met legal thresholds needed to put the issue before voters.

Under Alaska law, the petition when officially certified would appear on the Aug. 19 primary ballot. No formal opposition to the initiative has emerged thus far.

Reuters readies the job ax:

RadioShack to close about 500 stores: WSJ

U.S. electronics chain RadioShack Corp is planning to close about 500 stores within months, the Wall Street Journal reported on Tuesday, citing people familiar with the matter.

The struggling retailer, which is due to report results for the fourth quarter later this month, said it could not comment on rumor or speculation.

RadioShack has been working with bankers from Peter J Solomon Co to boost its liquidity and with AlixPartners on its operational turnaround.

Its sales have been in free-fall amid executive departures, strong competition and an image problem. Despite its ubiquitous presence in the United States, analysts say it has not done enough to transform itself into a destination for mobile phone shoppers, nor has it become hip enough to woo younger shoppers.

And another ax-wielder from the New York Post:

500 layoffs expected today at Time Inc.

Tuesday is D-day at Time Inc.

Around mid-morning, staffers are expected to start hearing how deep the cuts will be as Time Inc. CEO Joe Ripp unveils what is likely the last big downsizing before Time Warner spins off the publishing group as a separate company later this year.

“It’s very nerve racking,” said one source inside the company that publishes People, Time, Sports Illustrated and In Style.

The recently acquired American Express Publishing and the London-based IPC subsidiary, are expected to be particularly hard hit.

Out first global headline, via The Independent:

Das Capital: Trust in banks wanes as savers find other ways to protect their money

  • The ultra-rich are switching to real assets – gold, commodities, farm land

All systems – social, cultural, spiritual, economic and financial – rely on trust. Policy makers are now systematically undermining trust in institutions, turning to financial repression in attempting to deal with the economic crisis.

Current government policies focus on low interest rates, with returns artificially set below the true inflation rate. Where interest rates are near zero, governments print money, manipulating the amount rather than the price of money.

These measures reduce borrowing costs allowing borrowers to maintain high levels of debt. Rates below that of inflation help reduce the value of the debt, effectively decreasing the amount that must be paid back in economic terms. The policy subsidises borrowers at the expense of savers.

The London Telegraph sounds a warning:

Emerging markets more vulnerable than ever to Fed tightening, warns BIS

  • Bank for International Settlements says there had been a “massive expansion” in borrowing on global bond markets by banks and companies in developing countries

Emerging markets may be even more vulnerable to an interest rate shock today than they were during the East Asia crisis in 1998, the Bank for International Settlements (BIS) has warned.

The Swiss-based watchdog said there had been a “massive expansion” in borrowing on global bond markets by banks and companies in developing countries, leaving them exposed to “powerful feedback” risks as borrowing costs rise in the West.

“The deeper integration of emerging market economies into global debt markets has made emerging market bond markets much more sensitive to bond market developments in the advanced economies,” the BIS said in a working paper.

New Europe pontif-icates:

Pope warns that ‘unjust’ unemployment can lead to sin, moral destitution and even suicide

Francis discussed three types of destitution — material, moral and spiritual — in his first message for Lent, the solemn period leading up to Holy Week and Easter, that was released Tuesday.

Moral destitution, he said, “consists of slavery to vice and sin” such as alcohol, drugs, gambling and pornography.

He noted that sometimes “unjust social conditions” like unemployment lead to this type of destitution by depriving people of the dignity of work and access to education and health care.

“In such cases, moral destitution can be considered impending suicide.”

How, then, about folks who are doing quite well, Say, such as the consumers of this little joy from the London Daily Mail:

The Mile-Low Club: Travel company launches £175k Valentine’s Day submarine package with interior design of your choice and aphrodisiac menu (flights to the mooring not included)

  • Luxury travel company unveil submarine treat whereby couples can choose to harbour wherever they like
  • Also includes aphrodisiac menu featuring champagne and oysters
  • The bespoke submarine will actually travel 200m under the water
  • Price for a basic vessel starts at £175,000
  • Extras including helicopter transfers, entertaining rooms and champagne breakfast available

And from TheLocal.de, the crabby old man was right:

Too much reality TV ‘harms pupils’ grades’

Have you ever been worried that too much reality TV might be frying your brain or more to the point your kids’ brains? Well you better read on.

Parents everywhere have been muttering it under their breaths for years and now French researchers claim to have dealt conclusive proof.

A study by the Ministry of Education linked body DEPP (Direction of Evaluation, forecasting and performance) shows a dramatic reduction in results for 15-year-old pupils who watch too much reality TV.

The study, which relied on stats from the Ministry of Education, looked at the impact on grades of the typical activities of young kids in France from playing video games to listening to music and sending texts to friends but it was watching shows like The Voice,  Koh Lanta (the French version of Survivor)  or the Infamous Angels of Reality TV, featuring Nabilla (pictured) that appears to have the most detrimental impact on standards.

“It is the frequent watching of reality TV programmes that impacts the most negatively on the cognitive and academic performances,” said the study.

On to Europe and intolerant umbrage from EUobserver:

MEP receives 41,000 emails against gay rights

An MEP who drafted a resolution on securing the basic rights of LGBTI (lesbian, gay, bisexual, trans and intersex) people in the EU has so far received almost 41,000 emails against the proposal.

“My website was hacked as well, I don’t know who it was from. It might be coincidence, it might not be a coincidence,” Green Austrian MEP Ulrike Lunacek told the Strasbourg assembly on Monday (3 February).

A large banner which says “Warning – visiting this website may harm your computer!” has replaced her personal site since last week.

Her office said they are working to get it back to normal. They suspect it was hacked by ultra-conservative groups.

Casting a cynical eye with EUbusiness:

Ombudsman wants EU probed for corruption

The European Union’s own institutions should be probed for corruption, the EU’s watchdog said Tuesday, a day after Commissioner Cecilia Malmstroem described the bloc’s graft problem as “breathtaking.”

“The EU administration has to live up to the very highest standards,” European Ombudsman Emily O’Reilly said in a statement, adding that it largely does so and compares favourably with many member states.

However, it should not be complacent, and accordingly, O’Reilly encouraged the European Commission to “include the EU institutions in the next Anti-Corruption Report.”

On to Germany and action in Berlin from MintPress News:

Fed Up With Agribusiness, Protesters Take To The Streets In Berlin

The protesters said agribusiness threatens the livelihoods of small family farmers, leads to standardization of tastes, and damages the environment and biodiversity.

United under the declaration, “we are fed up,” around 30,000 people from several associations representing farmers, beekeepers and consumers, as well as environmental, development and food organizations, gathered in Berlin to demonstrate against large-scale agribusiness.

The protesters said that agribusiness threatens the livelihoods of small family farmers, leads to standardization of tastes and damages the environment and biodiversity. They demanded environmentally friendly farming, protection for bees, access to land and healthy, affordable food for all. They’re also seeking fair prices for farmers, an end to hunger, food scandals, monocultures, GMOs and land grabs by governments and investors.

Escorted by some 70 tractors, they marched through the streets of the German capital, from Potsdamer Platz to the government buildings of the Ministry of Agriculture and the offices of the federal chancellor. The demonstrators expressed their demands to Chancellor Angela Merkel and Vice Chancellor Sigmar Gabriel.

On to France and a taxing threat from EUbusiness:

French to make 1 bn euro tax claim against Google: report

French authorities have decided to make a tax claim of 1 billion euros against Google following a probe into the tax strategies by the US Internet giant, Le Point magazine reported Tuesday.

A Google spokesman in France declined to comment on the report, saying the company does not comment on rumours.

The French finance ministry also declined to comment, citing tax confidentiality.

France is one of a growing number of cash-strapped nations to pursue more aggressively what they see as abuse of tax and accounting rules that allows some multinational companies to pay less tax.

What Ailes France from France 24:

Is a new Tea Party brewing in France?

Interior Minister Manuel Valls has warned that France was seeing the birth of its own version of the grassroots, anti-tax Tea Party movement amid a surge of anti-government demonstrations by right-wing groups and religious conservatives across the country.

“We are witnessing the creation of the French version of the Tea Party. By exploiting the political and leadership crisis on the right, and the National Front party’s move away from the far-right, a conservative and reactionary right has been set free,” Valls, a Socialist, told the Journal du Dimanche in an interview published on Sunday.

The eye-opening comparison came hours ahead of massive rallies in defence of traditional families in Paris and the eastern city of Lyon. They were organised by the so-called “Manif Pour Tous” (Protest for all) group that staged massive protests against gay marriage last year.

Sunday’s march, which police said drew 80,000 people in Paris, was just the latest public display of anger against President François Hollande’s government in recent days.

EUbusiness goes medical:

France announces EUR 1.5 bn anti-cancer plan

French President Francois Hollande on Tuesday announced a 1.5 billion euro ($2 billion) anti-cancer plan aimed at reducing inequalities in treatment of the disease.

The 2014-2019 plan aims to give “the same chances to everyone everywhere in France” in preventing and fighting cancer, Hollande said in a speech to medical professionals.

His announcement comes a day after the United Nations warned that new cases of cancer will rise by half by 2030, reaching 21.6 million per year compared to 14 million in 2012.

On to Spain and a new low from El País:

Number of people in work in January declines to lowest level in 12 years

  • Jobless claims in Spain climb by 113,097 in first month of year

The number of people signed up with the Social Security system in Spain declined by 184,031, or 1.13 percent, in January from the end of last year to 16.173 million, the lowest figure since April 2002, according to figures released Tuesday by the Labor Ministry.

In what is traditionally a bad month for the labor market, jobless claims rose by 113,097, or 2.4 percent, from December to 4.814 million.

The ministry said that on a month-on-month basis, this January was the “least negative” since 2007, given that since the current comparable statistical series began there has never been an increase in the number of people signed up with the Social Security system. On a year-on-year basis, the number of affiliates declined by 5,829, or 0.04 percent.

TheLocal.es looks for resolution:

UN urges Spain to drop Civil War taboos

A UN expert on Monday urged Spain to break a decades-long taboo by investigating atrocities allegedly committed in its 1936-39 civil war and the Franco dictatorship that followed.

UN justice rapporteur Pablo de Greiff said Spain should scrap a 1977 amnesty law that stops victims from prosecuting the alleged perpetrators of such atrocities, which divide Spaniards to this day.

In a report, he urged Spain to scrap the amnesty and called on “the state institutions to show a decisive and determined commitment” to investigating and making sure that victims are compensated.

The amnesty was seen as a necessity by the leaders tasked with unifying Spain after Francisco Franco’s death in 1975.

Portugal next and a temporary halt to a sale of the commons from Deutsche Welle:

London auction house cancels sale of Miro paintings

Citing legal uncertainties stemming from the lawsuit in Portugal, auction house Christie’s said on Tuesday that it had decided to cancel the sale of the Miro paintings pending the resolution of the dispute.

“While the recent injunction to stop the sale was not granted, the legal uncertainties created by this ongoing dispute mean that we are not able to safely offer the works for sale,” Christie’s said in a press release.

Hours before the auction’s scheduled start time, a judge denied the opposition Socialist Party’s request for an injunction to stop the sale. Portugal’s government pleaded that harsh austerity measures have left the country short of cash, and it could not make retaining the collection of the Catalan surrealist Miro one of its priorities.

Portugal’s public prosecutor backed the appeal to stop the sale, which accused the administration of ignoring “the immeasurable immaterial value” of the collection to the country, forced into austerity measures following a 78-billion-euro ($105 billion) rescue by international creditors in 2011.

The Portugal News charts reduced losses:

BCP stems losses by around half a billion

BCP, Portugal’s largest private sector bank, announced a €740 million loss for 2013, down from €1.219 billion in 2012, following the closure of the stock market on Monday.

“This loss is significant but also substantially below that of the previous year. This reflects the macroeconomic situation and is in accordance with the restructuring plan agreed with the General Directorate of Competition of the European Commission,” BCP President Nuno Amado told a press conference.

The loss also includes €126 million in provisions for early retirement and redundancy payoffs as the bank advances with its plan expected to see several hundred employees leave the firm over the first half of this year.

On to Italy and an austerian declaration from AGI:

President Napolitano says Italy must stay course on debt

Italy cannot afford to let up its efforts to keep its public debt in check, President Giorgio Napolitano said in a speech to the European Parliament on Tuesday.

Despite the government’s concerted response to financial market pressure and significant achievements in 2013, Italy cannot afford to relax in its efforts to further curtail its public debt, he said.

After the jump, the latest from tghe Greek meltdown, a Turkish retraction, the ongoing Ukrainian crisis, a Latin American trade deal push and Brazilian woes, Australian immigration profits and environmental havoc, Indian protests, Thai warnings, troubling Chinese numbers, Japanese neoliberalism, toxic spills and criminal probes, ecocidal costs, and Fukushimapocalypse Now!. . . Continue reading

Headlines of the day II: EconoEcoGrecoFukunoma


Today’s collection of headlines economic, political, and environmental begins with on ominous note with The Independent:

Advances in artificial intelligence could lead to mass unemployment, warn experts

  • Academics say half of US jobs could be automated within a decade or two

Experts have warned that rapidly improving artificial intelligence could lead to mass unemployment just days after Google revealed the purchase of a London based start-up dedicated to developing this technology.

Speaking on Radio 4’s Today programme, Dr Stuart Armstrong from the Future of Humanity Institute at the University of Oxford said that there was a risk that computers could take over human jobs “at a faster rate than new jobs could be generated.”

“We have some studies looking at to which jobs are the most vulnerable and there are quite a lot of them in logistics, administration, insurance underwriting,” said Dr Armstrong. “Ultimately, huge swathe of jobs are potentially vulnerable to improved artificial intelligence.”

Dr Murray Shanahan, a professor of cognitive robotics at Imperial College London, agreed, noting that improvements in artificial intelligence were creating “short term issues that we all need to be talking about.”

BBC News booms:

US economy growing at 3.2% in the fourth quarter, official figures show

The US economy grew at a 3.2% annual rate for the final quarter of 2013, according to the country’s Commerce Department.

Many predict that 2014 will produce the strongest growth since the end of the US recession in mid-2009.

Optimism over the health of the world’s largest economy led to a further easing of the Federal Reserve’s stimulus measures on Wednesday.

A cautionary note from Reuters:

Exclusive: U.S. banking regulator, fearing loan bubble, warns funds

A U.S. bank regulator is warning about the dangers of banks and alternative asset managers working together to do risky deals and get around rules amid concerns about a possible bubble in junk-rated loans to companies.

The Office of the Comptroller of the Currency has already told banks to avoid some of the riskiest junk loans to companies, but is alarmed that banks may still do such deals by sharing some of the risk with asset managers.

“We do not see any benefit to banks working with alternative asset managers or shadow banks to skirt the regulation and continue to have weak deals flooding markets,” said Martin Pfinsgraff, senior deputy comptroller for large bank supervision at the OCC, in a statement in response to questions from Reuters.

Among the investors in alternative asset managers are pension funds that have funding issues of their own, he said.

Banksters behaving badly from Reuters:

U.S. seeks $2.1 billion from Bank of America in fraud case

The U.S. government has raised the amount it is seeking in penalties from Bank of America Corp (BAC.N) to $2.1 billion after a jury found the bank was liable for fraud over defective mortgages sold by its Countrywide unit.

The request in a court filing late on Wednesday was based on gross revenue generated by the fraud, the government said. The Justice Department had previously asked for $863.6 million.

The initial request was based on gross losses it said government-sponsored mortgage finance companies Fannie Mae (FNMA.OB) and Freddie Mac (FMCC.OB) incurred on loans purchased from Countrywide Financial Corp in 2007 and 2008.

Tapering with BBC News:

US Federal Reserve slows monthly bond-buying to $65bn

The US Federal Reserve announced a $10bn (£6bn) reduction in its monthly bond purchases from $75bn to $65bn in the second straight month of winding down stimulus efforts.

The central bank had been buying bonds in an effort to keep interest rates low and stimulate growth.

In a statement, the Fed said that “growth in economic activity picked up” since it last met in December.

Although the move was expected, US shares still fell on the news.

Screwing the poor with The Guardian:

Congress axes $8.6bn from food stamps in farm bill

  • Richer farmers get bigger subsidies in immediate snub to Barack Obama’s State of the Union call for action on inequality

Congress has agreed to cut $8.6bn from the federal food stamp program while increasing government subsidies for richer farmers, dealing a swift rebuke to Barack Obama’s call for a year of action on economic inequality.

Within hours of the president’s State of the Union speech, the House of Representatives voted overwhelmingly to adopt the measures as part of a wide-ranging farm bill that passed by 251 to 166 votes and has already been endorsed by the Senate’s Democratic leadership.

The cuts to federal food stamps come on top of a $5bn cut in November and will reduce payments to 1.7 million of the poorest Americans by an estimated $90 a month.

Golden State woes from the San Francisco Chronicle:

Amid one of the worst droughts in California’s recorded history, state officials say 17 communities and water districts could run dry within 100 days

The threatened towns and districts are mostly small and in rural areas. They get their water in a variety of ways, from reservoirs to wells to rivers. But in all cases, a nearly rainless winter has left their supplies approaching empty.

In the greater Bay Area, Cloverdale and Healdsburg in Sonoma County are among those at risk of running out of water. The small Lompico Water District in the Santa Cruz Mountains is also on the list.

Bloomberg itemizes:

California Farms Going Thirsty as Drought Burns $5 Billion Hole

The drought in California, the top U.S. agricultural producer at $44.7 billion, is depriving the state of water needed to produce everything from milk, beef and wine to some of the nation’s largest fruit and vegetable crops, including avocados, strawberries and almonds. Lost revenue in 2014 from farming and related businesses such as trucking and processing could reach $5 billion, according to estimates by the 300-member California Farm Water Coalition, an industry group.

The state was the driest ever in 2013, a third straight year of little moisture. California Governor Jerry Brown declared a drought emergency on Jan. 17 as arid conditions he called “unprecedented” continued well into the annual rainy season that runs from October through March. Reservoirs on Jan. 27 were at 61 percent of average, while the mountain snow-pack as of Dec. 30 that supplies most of the state’s water was at 20 percent of normal for that time of year, data show.

And a global story from New Europe:

UNDP: Income inequality increased compared with 1990s

UNDP published a report on income inequality in the developing countries stressing that inequality increased by 11 per cent between 1990 and 2010.

According to the report, more than 75 per cent of the population in developing countries is living today in societies where income is more unequally distributed than it was in the 1990s. The report underlined that inclusive growth policies are important policy tools for reducing income inequality.

Helen Clark, administrator of the UNDP said according to a press release that “inequalities on today’s levels are unjust in both developing and developed countries…Over the last few decades, poverty rates have declined in every region of the world; emerging market countries have grown with unprecedented speed; and life

Advice from China Daily:

Replace dollar with super currency: economist

The World Bank’s former chief economist wants to replace the US dollar with a single global super-currency, saying it will create a more stable global financial system.

“The dominance of the greenback is the root cause of global financial and economic crises,” Justin Yifu Lin told Bruegel, a Brussels-based policy-research think tank. “The solution to this is to replace the national currency with a global currency.”

Lin, now a professor at Peking University and a leading adviser to the Chinese government, said expanding the basket of major reserve currencies — the dollar, the euro, the Japanese yen and pound sterling — will not address the consequences of a financial crisis. Internationalizing the Chinese currency is not the answer, either, he said.

On to Europe and a regulatory call from Deutsche Welle:

EU presents more proposals to curb risky banking activities

  • The European Commission has proposed measures to rein in risky banking activities in heeding the lessons from the global financial crisis. It focused on stopping dubious trading by lenders “too big to fail.”

The proposals presented in Brussels on Wednesday centered on 30 large European banks, accounting for more than 65 percent of the EU’s total banking assets.

According to the suggestions made, these lenders would be banned from proprietary trading, a practice under which banks make bets using their own money and not that of customers.

The lenders could be forced to also separate other risky trading activities from their deposit-taking business which would make them far less vulnerable in a crisis situation.

Deutsche Welle again, with labor action:

European air traffic controllers go on strike over EU initiative

Air traffic controllers have begun a two-day strike over an EU initiative they fear will cause job cuts and more difficult working conditions, causing some delays. The EU is to vote on the measure on Thursday.

Air traffic controllers across several EU nations were expected to go on strike on Wednesday. The move was prompted by the EU’s Single European Sky initiative, which seeks to centralize the continent’s airspace and reduce congestion and inefficiencies costing airlines an estimated 5 billion euros ($6.8 billion) annually.

Some 20 flights out of Lisbon in Portugal were cancelled on Wednesday, while Rome’s Fiumincino hub was also hit with cancelations and delays. In anticipation of the focus turning to Paris, the civil aviation authority asked airlines to reduce traffic into the French capital by 20 percent.

German workers had originally planned on joining the strike action. However, an injunction filed by German flagship carrier Lufthansa last week prevented them from doing so.

Britain next and an alarm from Xinhua:

Warning bells ring over British current account deficit

The British economy performed well in 2013 with 1.9 percent GDP growth, and some economists predict growth of up to 3 percent this year, but warning bells are sounding over the size of Britain’s current account deficit.

Simon Wells, chief UK economist with HSBC Global Research, raised worries over the unbalanced nature of growth in the British economy and the current account deficit, which stands at 5.1 percent of GDP in Q3 2013, close to a peacetime record.

Wells said, “Of the 40 countries covered by HSBC economists, the UK has the fifth largest current account deficit. And while most countries have narrowed deficits over the past five years, the UK’s is one of the few that have widened.”

The Guardian takes note:

Mortgage lending at six-year high

  • Bank of England says £12.4bn of new mortgages were approved in December 2013

The number of mortgages taken out to buy homes reached its highest level in almost six years in December, figures from the Bank of England showed, as the housing market continued to gather speed despite the slide into winter.

A total of 71,638 loans were approved for house purchase, above the previous six-month average of 65,001 and the highest monthly figure since January 2008 when the credit crisis and economic slowdown started to take hold of the market.

The government’s Funding for Lending scheme to offer cheap fund to banks and building societies, and the second part of Help to Buy which offers a taxpayer-backed guarantee on mortgages up to 95%, have both made home loans cheaper and more accessible to those with small deposits.

And a polyglot headline from the London Telegraph:

The 800,000 people living in Britain with little or no English

  • Analysis of census figures shows how most people living in Britain who do not have a good command of English do not have a job

Migrants with little or no English are 50 per cent more likely to be unemployed than native speakers and three times as likely to have no formal qualifications.

The study also showed that those who do work are condemned to the lowest paid and most laborious jobs if they do not have a working command of English.

Significantly the problem is most acute among women. Overall 60 per cent of those living in England and Wales but unable to speak the national tongue are female.

Bordering on controversy with TheLocal.de:

UK and Germany locked in immigration debate

The UK and Germany are locked in the same debate over the arrival of a new wave of immigrants from eastern Europe. But despite their arguments being the same, their presentation is very different, argues The Local’s Tom Bristow.

A conservative party calls for new measures to prevent migrants moving abroad to access welfare benefits. The left hits back, defending freedom movement as a cornerstone of the European Union.

A slogan from the conservative party in the ruling coalition government is deemed populist, even racist by the pro-immigration camp – “Those who cheat are out.”

That slogan could have come from UK Prime Minister David Cameron – yet it came from the Christian Social Union (CSU), the Bavarian allies of Chancellor Angela Merkel.

Profiteering with The Independent:

Passports for profit: British company to make ‘disgusting amounts of money’ from controversial EU passport sale

A British company has been accused of making “disgusting amounts of money” from a controversial scheme by Malta to sell European Union passports to tycoons and celebrities ranging from a former Formula One world champion to a Chinese billionaire.

Henley & Partners, a private company registered in Jersey which specialises in “citizenship solutions”, stands to make at least €60m (£49m) from its role as the designer and principal contractor for the scheme, which will sell passports for €1.15m a piece.

The programme, which is due to begin processing its first applicants next month and will provide a right to reside anywhere in the EU, including Britain, has attracted sharp criticism both within the Mediterranean island and abroad.

Iceland next, and a counterfactual from Bloomberg:

Let Banks Fail Is Iceland Mantra as 2% Joblessness in Sight

Iceland let its banks fail in 2008 because they proved too big to save.

Now, the island is finding crisis-management decisions made half a decade ago have put it on a trajectory that’s turned 2 percent unemployment into a realistic goal.

While the euro area grapples with record joblessness, led by more than 25 percent in Greece and Spain, only about 4 percent of Iceland’s labor force is without work. Prime MinisterSigmundur D. Gunnlaugsson says even that’s too high.

“Politicians always have something to worry about,” the 38-year-old said in an interview last week. “We’d like to see unemployment going from where it’s now — around 4 percent — to under 2 percent, which may sound strange to most other western countries, but Icelanders aren’t accustomed to unemployment.”

Denmark next, and a walkout over a bankster win from The Guardian:

What would Birgitte do? Socialists quit Denmark coalition over energy deal

  • Goldman Sachs’s investment in state-owned energy prompts walkout and Borgen-esque political crisis

With Borgen no longer around to keep British audiences entertained, real-life politics in Denmark continues to give the fictional version a run for its money when it comes to drama.

After a recent spate of controversies and ministerial resignations, the Danish centre-left government suffered another blow on Thursday when the Socialist People’s party (SF) left the ruling coalition amid anger over Goldman Sachs’s investment in Denmark’s state-owned energy company.

Goldman’s 8bn kroner (£900m) purchase of a 19% share in Dong Energy has been championed by the government but caused a revolt among SF’s parliamentary group. After a night of tension and discussions, SF’s leader, Annette Vilhelmsen, announced her resignation and said her party was leaving the coalition.

Germany next, and do as we say, not as we do from Independent.ie:

Germany loosens own pension rules while demanding austerity from rest of EU

Germany’s coalition government presented a pension reform plan today that will cost €160bn to 2030 by letting some workers retire earlier, loosening the purse strings at home when Berlin has demanded austerity from its euro zone partners.

Despite criticism from industry and the pro-business wing of Chancellor Angela Merkel’s party, the cabinet endorsed what is likely to be the most expensive single measure of the legislative period when it moves through parliament in May.

An additional 900,000 workers will be able to retire earlier than expected aged 63 over the next two years provided they have worked for 45 years. Some mothers will get pension increases.

TheLocal.de has income:

Foreign investment floods into Germany

Foreign investment into Germany increased by almost 400 percent last year, rising to €23.4 billion, a UN report revealed on Tuesday. It comes amid rising consumer and investor confidence.

In 2012 foreign direct investment stood at just €6.5 billion.

But 2013’s rise was helped by major deals including the purchase of Kabel Deutschland by Vodafone for €5.6 billion.

Germany also rose up the global rankings of the world’s most attractive foreign investment locations to 14th from 40th the year before.

Europe Online admonishes:

Deutsche bank warns of challenging year ahead

Deutsche Bank is making progress in restructuring its operations but faces further costs as a result of a string of lawsuits, the co-chief of Germany’s biggest bank said Wednesday.

The coming 12 months “will be another year of challenges,” Juergen Fitschen said in Frankfurt.

Deutsche announced earlier this month a surprise fourth-quarter loss because of a weak performance by its key investment banking operations and hefty legal costs following the bank’s involvement in a series of scandals.

New Europe exudes:

Record-high for consumer confidence in Germany

Consumer confidence in Germany is rising, and according to the latest data by a research group it reached to a level, last seen in 2007.

According to international market research group GfK, consumer confidence in Germany reached 8.2 points in January from 7.6 points in December. The research group said that the January reading was higher than expected by analysts and propelled the consumer index to a level last recorded in August 2007. German citizens were more optimistic regarding their economic and income expectations and their willingness to buy was improved.

According to the press release, Germans consider the national economy to be clearly on the upturn at present and this is reflected in the fifth consecutive improvement in economic expectations. “In the wake of this, income prospects climbed to reach a 13-year high. Willingness to buy also improved and surpassed its seven-year high of the previous month,” the report says.

While Deutsche Welle declines:

Beer sales in Germany lowest since early 1990s

Over the past years, Germans have drastically reduced their beer consumption. Fresh figures showed 2013 was no exception, with sales reaching their lowest level since the country’s unification.

With Germany still considered to be a major beer-drinking nation, annual sales of alcoholic beer in the country reached a new low in 2013, the National Statistics Office ( Destatis) announced Thursday.

While the nation still had 1,300 breweries making about 5,000 varieties of the beverage, they sold only 94.6 million hectoliters last year, a fall of 2 percent compared with 2012 and a drop to levels last reached shortly after German unification in 1990.

On to Amsterdam and an increasingly common trend from DutchNews.nl:

Postal deliveries could be cut to three days a week, if EU says yes

If the European Union gives permission, Dutch postal company PostNL could cut its deliveries to three days a week, a spokesman says in Wednesday’s AD.

European Union rules state post must be delivered five days a week but moves are being made to relax this, the AD says. PostNL stopped Monday deliveries at the beginning of this year.

‘If the EU allows it, we will cut back to four or perhaps even three delivery days,’ spokesman Werner van Bastelaar told the AD.

DutchNews.nl falls off:

Dutch savings are down for the first time in 20 years

For the first time in 20 years the Dutch have less in their savings accounts, Nos television says on Wednesday.

Figures from the Dutch central bank, ING and national statistics office CBS show the total amount of savings has gone down €1bn a month since reaching a high point of €330.5bn last summer.

There are four main reasons for the decline, the CBS says: one in 20 households are so hard up they have no more money to put aside; others are using savings to pay off debts and mortgages; investing in the stock market is popular again; and people who have lost their jobs are using up their savings to live on.

France next and an economic sweet spot from TheLocal.fr:

French arms industry enjoys boom in trade

Crisis, what crisis? While certain sectors in France continue to suffer in the downturn France’s arms industry is doing a roaring trade. A new report, that won’t be welcomed by pacifists, revealed this week that sales of arms abroad have rocketed.

Despite the seemingly endless stream of bad economic news for France, there is at least one sector that’s booming: weapons. French arms makers confirmed €6.3 billion in orders to foreign countries in 2013, which represents a 31 percent jump on the previous year.

The figures released on Wednesday by the Ministry of Defence ensure France keeps its spot at number four among the world’s largest providers of weapons. The United States, the United Kingdom and Russia all sold more weapons than France in 2013.

Departures note from TheLocal.fr:

Foreign investors desert France in 2013: report

As if high unemployment, heavy public debt and an unhappy populace weren’t enough, France also saw a double digit drop in foreign investment in 2013, according to a new United Nations report on Wednesday.

Signalling yet more bad news for France’s troubled economy, a United Nations report said the country saw a 77 percent decline in direct foreign investment last year, while the global average was an 11 percent increase.

France’s results were the worst in the European Union, according to the United Nations Conference on Trade Development report released on Tuesday.

A culture war panic from France 24:

French parents pull children from school over ‘gender theory’ scare

France’s education chief threatened Wednesday to summon parents who pull their children from school after a wave of absenteeism. The row was sparked by a rumour about sex education classes that could become a new ideological battleground in France.

Thousands of parents in France received a text message on their mobile telephones last week urging them to keep their children from school on Monday. The collective action was to protest an alarming development in French primary schools: the attempt to teach students that “they are not born as boys or girls, but can choose to become one or the other.”

The grassroots campaign opposing teaching of so-called “gender theory” in French schools asked parents to go further by taking their kids out of school one day every month. It recommended this be done with no prior warning to teachers.

Hints of things to come? From TheLocal.fr:

‘First ever’ bill proposes legal cannabis in France

France is no Amsterdam when it comes to marijuana laws, in fact it has some of the toughest possession statutes in Europe, but a first of its kind bill proposed this week could change that. The lawmaker behind the legislation tells The Local why marijuana should be legalized in France.

People smoking a joint in France face a maximum penalty of a year behind bars and a €3,750 fine for the first offence, yet 13.4 million French people admit to sparking up at least once in their life. Even France’s top cop, Interior Minister Manuel Vallls, said in a recent interview, he’d tried it “maybe once.”

The numbers go up as you look at the younger portion of the population. France had the unhappy distinction of being the European “champion” of teen pot smokers in 2011 when 24 percent of its 16-year-old kids admitted to smoking at least once a month, daily Le Monde reported.

Swiss hard times intolerance from TheLocal.ch:

Support for immigrant quotas rises before vote

A plan by Swiss right-wing populists to reimpose immigration quotas for citizens from the European Union has won increased support ahead of a referendum, raising the prospect of a clash with Brussels, a new poll shows.

A total of 43 percent of those surveyed said they backed the “Stop Mass Immigration” measure which goes to a vote on February 9th, according to the survey released on Wednesday by public broadcaster SRG. That marked a major gain on the 37 percent support shown in a poll released just two weeks ago.

The survey was commissioned from the GfS Bern public opinion institute, which found that opposition to the measure had dropped by five points to 50 percent.

On to Spain and a warning from El País:

Brussels warns of risks to Spain from the crisis in emerging markets

  • Report says economic recovery “remains fragile”
  • Commission expects bad bank to have posted losses last year

The upbeat message Economy Minister Luis de Guindos gave to his colleagues at an Ecofin meeting on Tuesday on the Spanish economy contrasts with the more cautious tone of the final report on Spain’s compliance with the bailout program for its banks, made public on Wednesday by the European Commission (EC).

De Guindos told fellow European economy and finance ministers that he expects the economy to grow 1 percent this year, above the Spanish government’s official forecast of 0.7 percent, with the pace of activity sufficiently strong to allow net job creation. He also minimized the possibility of fallout from the latest crisis in emerging markets, particularly Argentina. “We can’t fall any more. Now the recovery begins,” De Guindos said, arguing that Spain “has scarcely any exposure to Argentina and other emerging markets.”

However, Brussels’ report, based on a joint mission by the EC and the European Central Bank to Madrid in the period December 2-13, warns that: “The economic recovery […] remains fragile as imbalances continue to be worked out, and subject to external risks such as a reversal of the current benign global financial environment and a slowdown in emerging markets, especially in Latin America, to which Spanish companies are particularly exposed.”

More misery demanded from TheLocal.es:

‘Spain’s record wage cuts not enough’: IMF

The International Monetary Fund has asked Spain to further reduce salaries even though it has already slashed average wages by 20 percent over the past two years – the fastest drop in the country’s democratic history.

The International Monetary Fund has revised up its 2014 growth forecast for Spain to 0.6 percent, or more than triple the figure it forecast in October last year, but this is still very modest and it continues to expect more.

The monetary body claims the 20 percent drop in average wages over the past two years does not make up for the excessive salary increases seen prior to that, a factor which they claim has contributed to Spain’s ailing unemployment rate.

El País reduces:

Spanish banks drastically cut exposure to sovereign debt

  • Sector sold 22.4 billion euros in government bonds in December
  • Lenders gearing up for ECB stress tests later this year

Spain’s banks in December picked up the pace at which they have been offloading their holdings of sovereign debt ahead of the solvency tests they will be subjected to by the European Central Bank later this year.

According to ECB figures released Wednesday, Spain’s banks took advantage of improved market conditions to sell 22.4 billion euros worth of government bonds, more than double the 10 billion they sold in November and October’s 8.9 billion. After the latest sell-off, the exposure of Spain’s banks to sovereign debt stands at 272 billion euros.

The extent of European banks’ exposure to sovereign debt will be one of the key features in the stress tests to which they will be submitted. If banks are required to write down the value of sovereign debt not being held to maturity to current market levels, this might entail them having to increase their capital to enhance their solvency.

Off the books with the London Telegraph:

Untaxed work equal to 25pc of GDP in Spain

  • Cash transactions carried out behind the Spanish taxman’s back in 2012 hit nearly €253bn

Untaxed transactions in Spain have surged to equal nearly a quarter of the country’s output as unemployed workers scrape a living in the black economy.

The cash economy has flourished since 2008, when the collapse of a building boom hurled Spain into a double recession, a report by Treasury experts and academics said.

Cash transactions carried out behind the taxman’s back in 2012 hit nearly €253bn, or 24.6pc of gross domestic product, according to the report released by GESTHA, a tax inspectors’ union.

More cultural warring from thinkSPAIN:

Mass protest outside European Parliament in Brussels over Spain’s abortion reform

AT least 2,000 people staged a demonstration outside the European Parliament building in Brussels yesterday (Wednesday) evening in protest over Spain’s abortion law reform.

As well as members of the public of all nationalities, organisations including the European Women’s Lobby, Abortion Right, the European Humanist Federation, Catholics for Choice and the International Planned Parenthood Federation were joined by MEPs from the socialists, liberalists, the ‘greens’ and United Left.

Banners read, ‘Rights for men, but also for women’; ‘Free abortion’, and ‘All of us are Spanish women’ – a message of support meaning restrictions on legal abortion could one day affect any of them.

El País draws the line:

Five regions rebel against Popular Party’s education reform

  • Commissioners claim Minister Wert’s law is step backward and segregates students

The regions not governed by the Popular Party on Wednesday objected to the controversial new Education Law, known as the LOMCE — the seventh overhaul of the public system since the restoration of democracy in Spain — as retrogressive and divisive, and lamented the lack of debate on the legislation.

Initially drawn up to address high dropout rates, the law also enhances the role of religion in schools and permits state funding for educational centers that segregate students by gender. The law was passed in Congress with only the votes of the PP, which has an absolute majority in the lower house.

At a news conference, the educational commissioners of the Basque Country, Andalusia, Asturias, Catalonia and the Canary Islands accused Education Minister José Ignacio Wert of a “lack of institutional loyalty” in failing to adequately consult the regions on the changes. The regions are responsible for the education and health services.

TheLocal.es enumerates:

One third of Spanish kids at risk of poverty

More than a third of children in Spain live at risk of poverty, the aid charity Save the Children said on Wednesday, blaming austerity measures for worsening the situation.

The number of under-18s “at risk of poverty or marginalization” — an official EU measure of various aspects of economic hardship — soared to more than 2.8 million in 2012, the charity said.

That was equivalent to 33.8 percent of Spain’s children, it said in a report that used the latest official European Union data.

El País deplores:

Council of Europe slams Spain for denying healthcare to illegal immigrants

  • Organization’s Committee on Social Rights concerned about general slide on basic protection

The economic crisis has undermined social protection in Spain. The Council of Europe, which oversees respect for human rights in 47 countries on the continent, on Wednesday expressed concern over “regressive legislative developments concerning access to health care by foreigners illegally present in the country.”

The conclusion is part of a wide-reaching report by the European Committee on Social Rights that examines whether national laws conform to the European Social Charter.

The 2013 conclusions, released on Wednesday, found that Spain was one of several countries that had regressed on social rights compared with earlier periods. Other states where healthcare, social welfare and occupational safety have been curtailed included Austria, France, Finland, Belgium, Bulgaria, Czech Republic, Denmark, Lithuania and Latvia.

On to Lisbon and a demand from the Portugal News:

Socialists demand pension cut clarification

The Portuguese Socialist (PS) party has demanded that the prime minister specify what pension and wage cuts were considered to be temporary and accused the government of acting with a lack of transparency and creating uncertainty among the population.

These criticisms were made by António Galamba MP, a member of the PS national secretariat at a press conference where he also accused the centre-right coalition of rehearsing “propaganda manourvres” and trying to “sell illusions”.

“Isn’t it time for the government to clarify what cuts are temporary and what are definitive? “, he asked, after accusing the government of a lack of transparency by creating a work group to prepare definitive cuts to the pension system.

Italy next and a rebuke from ANSAmed:

Council of Europe blasts Italy on pensions, poverty

  • Lacks ‘overall and coordinated approach’

Italy is failing to address growing levels of poverty and to provide retirees with an adequate level of subsistence, a Council of Europe committee said in a report released on Wednesday.

The report, drawn up by the European Committee of Social Rights, noted that Rome had not demonstrated ‘’the existence of an overall and coordinated approach providing adequate measures to combat poverty and social exclusion’‘.

Italy’s national statistics bureau Istat reported in late December that the number of people in crisis-hit Italy living in absolute poverty had doubled between 2005 and 2012 and tripled in the industrial north, up to 6.4% from 2.5%. More than 1.7 million families live in a state of absolute poverty – for a total of 4.8 million individuals – amid rising unemployment and a stubborn recession, Istat said.

Raising a ruckus with The Guardian:

Italian parliament erupts amid vote on central bank capital

Opposition MPs storm government benches after speaker cuts short debate on measure to boost commercial banks

There have been chaotic and at times violent scenes in the Italian parliament after the lower house speaker made unprecedented use of her powers to cut short a filibuster by deputies of Beppe Grillo’s Five Star Movement (M5S).

Late on Wednesday, M5S MPs stormed the government benches, put on symbolic gags and kept up a barrage of whistling after the speaker, Laura Boldrini, cut short the debate and ordered a vote on a complicated and intensely controversial measure to square Italy’s public accounts. One of Grillo’s followers said an MP from the governing majority had slapped her during the disorder.

Opposition MPs claim that the measure would hand more than €7bn (£5.8bn) of taxpayers’ money to the banks.

Emulation from TheLocal.it:

27 percent of Italians want to be more German

Over a quarter of Italians would like their country to be more like Germany, while some would prefer Italy to resemble Cuba or China, a poll this week has found.

Despite the anti-German rhetoric of populist politicians, targeting the country’s leader Angela Merkel, this week’s Ipsos poll showed that Italians may be warming to Europe’s economic powerhouse.

Twenty-seven percent of Italians said they would like Italy to more closely resemble Germany, swiftly followed by 19 percent opting for a more Norwegian approach.

After the jump, the latest on the Greek meltdown, Ukrainian uncertainty and admonitions, Turkish anxieties, Indian inflation, Thai turmoil, mixed news from China, Japanese easing, ecological alarms and woes, plus the latest edition of Fukushimapocalypse Now!. . . Continue reading

Headlines of the day II: EconoEuroEcoFukuFails


In line with the previous post, we begin today’s compendium of things economic, ecologic, and politic with the idiotic — another clueless quote from the very, very rich, this time via The Verge:

Kleiner Perkins founder says Silicon Valley elite are being treated like Jews in Nazi Germany

Tom Perkins, one of the co-founders of the Silicon Valley powerhouse venture capital firm Kleiner Perkins Caulfield & Byers, is afraid the next Kristallnacht — a night of violence against Jews before the start of World War II — will happen in the Bay Area.

Perkins, who is 81, perceives a “rising tide of hatred of the successful one percent” that mirrors the treatment of Jews in Nazi Germany, he says in a letter to the editor in the Wall Street Journal.

Class tensions in the San Francisco Bay Area recently flared up over the area’s skyrocketing rent and “Google buses,” private luxury coaches that shuttle wealthy tech workers to the office. Perkins specifically calls out the Occupy movement and the San Fransciso Chronicle for perpetuating anti-one percent rhetoric. This “progressive radicalism” is just like the fascist backlash against the Jews, Perkins argues.

On to the purely economic with a warning from CNBC:

US ‘out of ammunition’ to tackle economic ‘rut’: Phelps

The U.S. economy is in a “rut” and has been in stagnation since 1972, a Nobel Prize-winning economist told CNBC.

Edmund Phelps, who was awarded the Nobel Prize for Economics in 2006, said the U.S. government has run out of ideas about how to fix the economy.

“Governments have thrown all sorts of ammunition at it including concocting the housing boom. And we are kind of out of that ammunition and we have to dig deeper if we are going to get out of this rut,” Phelps told CNBC in a TV interview.

Reuters gives us another case of Banksters Behaving Badly, or so it’s claimed:

Exclusive: Bank of America’s trading practices have been probed, filing shows

The U.S. Department of Justice and the Commodity Futures Trading Commission have both held investigations into whether Bank of America engaged in improper trading by doing its own futures trades ahead of executing large orders for clients, according to a regulatory filing.

The June 2013 disclosure, which Reuters recently reviewed on a website run by the securities industry regulator FINRA, sheds light on the basis for a warning by the Federal Bureau of Investigation on January 8.

The warning, in the form of an intelligence bulletin to regulators and security officers at financial services firms, said that the FBI suspected swaps traders at an unnamed U.S. bank and an unnamed Canadian bank may have been involved in market manipulation and front running of orders from U.S. government-owned mortgage giants Fannie Mae and Freddie Mac.

Reuters has since learned that Bank of America’s trading practices regarding Fannie and Freddie are the subject of probes, and that the investigations are ongoing.

From USA TODAY, cause for anxiety:

Why emerging markets worry Wall Street

The big bull market in U.S. stocks is confronted with an unexpected headwind: a fresh bout of financial turbulence in emerging markets.

Wall Street is a world away from Turkey and Argentina and the other developing economies dotting the globe. But recent news of financial tumult and plunging currencies in some emerging markets, coupled with bad memories of past crises over the past 20 years that began in Mexico, Asia and Russia, has imported a boatload of financial angst back to the United States.

Indeed, the great bull market on Wall Street has suddenly run into a stumbling block that few investment strategists were even talking about at the start of the year: swooning currencies and capital flight out of vulnerable emerging markets like Turkey and Argentina.

The financial turbulence, which is being greatly exacerbated by a slowdown in growth-engine China, has raised fears of a potential crisis that could inflict damage on these developing countries’ economies and perhaps infect other nations as well. That lethal combination could ultimately crimp earnings of U.S. multinationals. It could also prompt investors to dump risky assets, a response that already seems to be underway.

Bloomberg admonishes:

BlackRock’s Fink Warns of ‘Too Much Optimism’ in Markets

BlackRock Inc. Chief Executive Officer Laurence D. Fink warned there is “way too much optimism” in financial markets as he predicted repeats of the market turmoil that roiled investors this week.

“The experience of the marketplace this past week is going to be indicative of this entire year,” Fink, 61, told a panel at the World Economic Forum in Davos, Switzerland today. “We’re going to be in a world of much greater volatility.”

Fink, who runs the world’s largest asset manager, spoke after a selloff in emerging markets that was triggered by concern about China’s economic growth and the Federal Reserve’s tapering of its monetary stimulus later this year. The MSCI World Index slid the most this week in five months.

The London Telegraph chimes in from on high:

Emerging market rout turns serious, punctures exuberance in Davos

  • IMF’s deputy-director says the Fund is watching the violent gyrations around the world “very carefully”

The worst emerging market rout in five years has raised fresh fears of global contagion, puncturing the mood of exuberance at the World Economic Forum in Davos.

Brazil’s President Dilma Rousseff sought to reassure investors that this week’s currency collapse in Argentina would not spread to the Brazilian real, insisting that all contracts would be honoured and that foreign funds would be “treated well”.

“Today, the stability of our currency is a central value of our country,” she said. The real has weakened by 20pc against the dollar this year, breaking through the crucial line of 2.40 in trading on Friday.

The IMF’s deputy-director, Min Zhu, said in Davos that the Fund is watching the violent gyrations around the world “very carefully”, saying the effect of bond tapering by the US Federal Reserve is causing global liquidity to dry up.

Another ominous warning, this time from The Guardian:

ILO warns young hit hardest as global unemployment continues to rise

  • International Labour Organisation says firms are increasing payouts to shareholders rather than investing in new workers

The world could face years of jobless economic recovery, with young people set to be hit hardest as global unemployment continues to rise this year, a report from the International Labour Organisation warns.

As the World Economic Forum kicks off in the Swiss town of Davos on Wednesday with a focus on growing inequality, the ILO has highlighted a “potentially dangerous gap between profits and people”.

The UN agency forecasts millions more people will join the ranks of the unemployed as companies choose to increase payouts to shareholders rather than invest their burgeoning profits in new workers.

And from Jiji Press, more job killing pushed for the fast-track:

Japan, U.S. Confirm Cooperation for Early TPP Accord

Japanese Minster of Economy, Trade and Industry Toshimitsu Motegi and U.S. Trade Representative Michael Froman agreed Saturday that the two countries will continue cooperation in helping conclude Trans-Pacific Partnership free trade talks as early as possible, Motegi told reporters after the meeting.

At the meeting held in the Swiss resort of Davos, Motegi called on the U.S. side to show flexibility for the early conclusion of the trade talks among 12 countries.

Froman responded by saying that both Washington and Tokyo should flex their muscle, according to Motegi.

On to Europe and bankster wishes from the Irish Times:

Draghi favours quick break in link between sovereign and bank debt

  • Leaders have taken euro out of crisis despite end-of-the-world scenarios, says Schäuble

European Central Bank president Mario Draghi told global leaders in Davos yesterday he favoured an “accelerated time line” in breaking the link between euro area sovereign and bank debt.

Despite a “largely positive” economic outlook for 2014, he warned of a punishing market reaction if euro countries rolled back their reforms.

Discussing a European banking union to oversee and wind up banks, Mr Draghi said struggling institutions could access public money after bailing in creditors.

BBC News misses the number:

Davos 2014: Eurozone inflation ‘way below target’

The head of the International Monetary Fund (IMF) has warned that deflation remains a real risk to economic recovery in the eurozone.

Despite signs of recovery across the world, Christine Lagarde said that potential risks must not be ignored. One of these was the fact that eurozone inflation, at 0.8%, remained “way below” the 2% target set by the European Central Bank (ECB).

She was speaking on the final day of the World Economic Forum, in Davos.

On to Britain and more austerian misery from The Independent:

‘Bedroom tax’ and benefits cuts draining councils’ emergency funds

  • Authorities had been forced to dip into funds allocated to other services to cope with the surge in numbers of households appealing for help

Councils have been hit by a dramatic increase in requests for emergency financial help from people struggling to make ends meet following the introduction of the “bedroom tax” and other cuts to benefits.

More than 200,000 contacted their town halls in the six months after the latest benefits squeeze came into effect, the Local Government Association has estimated.

It also said that many authorities had been forced to dip into funds allocated to other services to cope with the surge in numbers of households appealing for help.

The parliamentary outs long for the good old days, via RT:

UK shadow govt eyes reintroducing 50% tax rate for top earners

Shadow Chancellor Ed Balls says Labour will reintroduce the 50 percent tax rate for people earning over £150,000. This comes as part of an election vow, together with promises to balance the government’s books and to clear the budget deficit.

A promise to bring back the tax on bank bonuses and reduce pension tax relief for the highest earners came in a speech to the Fabian Society Balls delivered on Saturday. However, he admitted that these measures would not be enough to balance the books.

“And when the deficit is still high, when tough times are set to last well into next parliament, when for ordinary families their real incomes are falling and taxes have risen, it cannot be right for David Cameron and George Osborne to have chosen to give the richest people in the country a huge tax cut,” he said.

The last Labour government, under Gordon Brown, raised the upper tax band from 40% to 50% in response to the recession in 2010, but the coalition cut it back to 45% in April 2013.

And from the Lancashire Telegraph, expressive downsizing:

Thwaites sign leaves Blackburn brewery bosses redfaced

BREWERY bosses were left red faced when their iconic lighted sign was turned into a profanity.

Some of the Thwaites Brewery letters atop the Blackburn building fell into darkness as people left town centre shops and offices last night.

With just the words H, I and E blacked out, the embarassing message was broadcast to the entire town.

It comes after news this week that the brewery is to axe up to 60 jobs.

The sign in question, via Nothing to do with Abroath [and, yeah, th word’s sexist, but there were just those letters to work with, so we’ll give a pass and a smile]:

BLOG Twat

On to Sweden and a refreshing note from CBC News:

Bastion of tolerance, Sweden opens wide for Syria’s refugees

  • Asylum offer testing Swedes’ patience, but forcing Europe to respond

On the northern fringes of Europe, Sweden has offered its hand to more Syrian refugees than any other Western nation, granting those who make it here permanent residency. And while its generosity has caused some tensions on the home front, including a modest rise in the anti-immigrant right, that has not stopped the Swedish government from lobbying its European counterparts to open their doors as well.

By way of contrast, here’s how Carlos Latuff sees the immigration policies of Greek Prime Minister Antonis Samaras:

Samaras’ anti-immigration policy

Samaras’ anti-immigration policy

From Deutsche Welle, fighting the right:

Demonstrations against Viennese right-wing ball turn violent

  • Several protesters have been arrested during protests against a ball in Vienna that is a traditional venue for right-wing figures. Police reported a number of arrests and cases of vandalism.

Police in the Austrian capital, Vienna, say they arrested about a dozen people on Friday evening after initially peaceful protests, involving some 6,000 demonstrators, against the so-called Academics Ball (Akademikerball) in the city’s Hofburg palace turned violent.

“We have several arrests and also injured police officers,” a police spokeswoman said. Police also reported damage to storefronts and at least one police vehicle.

Police closed off large sections of the inner city ahead of the ball, which forms the focus for left-wing protests every year. Parts of the area were also closed to journalists, a move that drew criticism from Austrian news organizations as limiting media freedom.

On to Paris and holding steady with TheLocal.fr:

Moody’s maintains French debt rating

Moody’s held its French credit rating at Aa1 Friday but maintained a negative outlook, days after President Francois Hollande announced a batch of business-friendly measures to fire up growth.

The US agency affirmed the bond rating one notch below the top AAA rating.

Moody’s voiced scepticism about the reforms Hollande announced earlier this month, a “responsibility pact” which includes lowering labour taxes in exchanges for fresh hiring by companies.

“The implementation and efficacy of these policy initiatives are complicated by the persistence of long-standing rigidities in labour, goods and services markets as well as the social and political tensions the government is facing,” the agency said in a statement.

But the London Telegraph sounds an alarm with a backhanded compliment:

France could destroy the euro, says Christopher Pissarides

  • Nobel laureate believes the ability of France to reform will decide the eurozone’s fate

France could destroy the euro if the government’s gamble on supply side reforms fails to pull the economy out of its chronic malaise, Nobel laureate Sir Christopher Pissarides has warned.

Sir Christopher, who won the the 2010 Nobel Prize for economics, said the ability of Europe’s second largest economy to implement sweeping changes would decide the fate of the single currency.

He warned French president Francois Hollande’s special blend of “supply-side socialism” would leave the fragile economy vulnerable to shocks for several years.

A more upbeat take from Independent.ie:

Schaeuble ‘very optimistic’ on France economy after Hollande plans

GERMAN Finance Minister Wolfgang Schaeuble said today that he was optimistic France would emerge stronger once it implements the economic reforms announced last week by President Francois Hollande.

“France is and remains a strong country and France will make the right decisions,” Schaeuble said at the World Economic Forum in Davos in response to a question about whether Germany’s neighbour had done enough to bolster its struggling economy.

“We’ve seen that the French president has made the necessary decisions and I think it is the right path,” Schaeuble added. “I am very optimistic that the role of France will be strengthened through this and that we can bring Europe forward together.”

And from FRANCE 24, wiseguys on the farm:

Organised crime targets French countryside

On January 21, French gendarmes broke up a highly specialised international criminal organization. It wasn’t robbing armoured cars, luxury jewelry stores in Place Vendôme or tourists on the Paris Métro – it was stealing tractors.

The gang had mainly targeted dealerships for John Deere farm machinery, later selling the stolen tractors in Germany, Hungary and Romania.

The robbery that led to the network’s undoing occurred on the night of November 2-3, 2012, when three tractors were stolen from a farm machinery dealership in Haute-Vienne in the centre of France. Despite the apparently unusual nature of the crime, the local police quickly realized that this was not an isolated phenomenon. They suspected the existence of a criminal organization, and passed the case to the gendarmerie’s Central Office for the Fight against Itinerant Crime, which uncovered a network of international scope.

Off to Spain and business as usual from El País:

Tech giants taunt the taxman

  • Major US technology groups paid Spain’s revenue agency just 1.2 million euros in 2012
  • Apple, Google, Amazon, Facebook, eBay and others use fiscal engineering to avoid payments

All the major US technology groups continue to dodge the Spanish taxman. The fiscal engineering tactics developed by their advisors allow them to pay hardly any tax on their business operations in Spain. Financial data for the main Spanish affiliates of Google, Apple, Amazon, Facebook, Yahoo, eBay and Microsoft show that their joint provisions for tax on profits in 2012 — the last year for which figures are available — was just 1,251,608 euros. That’s to say: 1.2 million in taxes among seven giants of the industry.

This aggregate figure is not taken from their tax filings but from their annual accounts, which must be deposited at the Spanish Business Register, and which reflect the money that the companies provision in a given year for tax on profits.

This aggregate figure conceals the fact that some companies paid taxes while others claimed tax credits or deferred tax payments after incurring losses. The accounting provisions may slightly differ from the actual tax filings because of timing issues.

thinkSPAIN departs:

Exodus of foreign residents from Spain rises 13-fold in one year

FOREIGN residents in Spain who have left the country due to lack of work have multiplied in number by 13 in the last year, according to the National Institute of Statistics (INE).

By the end of 2011, a total of 15,229 non-Spaniards had returned to their countries of origin or moved to other nations altogether due to being unable to find a job – but by the end of 2012, this number had grown to 190,020.

Figures for 2013 will not be known until this time next year.

And El País looks for help from above:

Saint “might help Spain out of crisis,” says interior minister

  • Jorge Fernández Díaz says he is convinced 16th-century nun is “interceding”

Interior Minister Jorge Fernández Díaz on Friday disclosed the existence of a previously unknown factor that might help Spain pull out of its deep economic crisis.

Speaking at the tourism fair FITUR in Madrid, Fernández Díaz said he was convinced that Saint Teresa of Ávila, the 16th-century nun, is “interceding” for Spain “during these harsh times.”

The revelatory statement was part of the presentation of “Huellas de Santa Teresa” (or, Traces of Saint Teresa), a project to celebrate the 500th anniversary of her birth through a tour of 17 cities where the saint established outposts for the Discalced Carmelites, a branch of the Carmelites that she founded.

While thinkSPAIN downsizes:

Coca-Cola staff facing redundancy go on strike

STAFF at the four Coca-Cola factories due to be shut down in Spain have gone on an ‘indefinite’ strike after hearing the firm planned to axe 1,250 jobs.

The plants in Fuenlabrada (Madrid), Alicante, Palma de Mallorca and Colloto (Asturias) are set to go at the end of February and 500 employees will be relocated whilst the rest will join the dole queue.

A series of demonstrations are planned by the Fuenlabrada workers, and it is expected staff from the other three plants will join in.

The company, Coca-Cola Iberian Partners, is financially healthy, but wants to ‘consolidate’ its operations by centralising production more ‘to improve efficiency’.

After the jump, the Greek crisis continues, Ukrainian compromise, Indian economic woes and cola wars, Thai elections, Singapore in a sling, Chinese inflation and austerity, Japanese bankster profits, toxic microbeads in California water, tar sands pushes, purple GMNO tomatoes, and Fukushimapocalypse Now!. . . Continue reading