Archive for the ‘Capitalism & Corporations’ Category

Perpetuity Shorter in Wyoming

Saturday, March 15th, 2008

– In spite of the fact that my wife and I are working our way towards working in land conservation in future years, I have had strong doubts about many of the land conservation efforts going on today. Like, for instance, when green groups band together and buy large swaths of rain forest and put it all into non-development trusts in coordination with the local governments.

– It all sounds so good on paper but what few folks think about, in my opinion, is that over the long term these ‘paper’ agreements will only have force and be honored so long as the structures (groups, governments, and trusts) behind them continue to have traction and power. If the world begins to get unstable and wars are breaking out over resources and it all gets even more dog-eat-dog than it is now, none of these agreements ‘in perpetuity’ are going to be respected.

– Hell, the Brazilian and Indonesian governments, in perfect health and stability, cannot keep the loggers and miners out of their forests. Who can imagine that if folks are starving, say, in Guyana and the central government there is on the ropes, that some idealistic agreement with green groups based far away on the other side of the planet to only allow eco-tourism activities in the local forests will be honored?

Yeah, right. I think the words ‘in perpetuity’ are going to be ever more, shall we say, flexible as time goes on.

– Along this line comes this excellent piece from the Blog, Only in it for the Gold, wherein Michael discusses how ‘in perpetuity’ is getting a bit shorter in Wyoming…

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To “Perpetuity Shorter in Wyoming“…

Monsanto Threatens Biodiversity

Saturday, March 15th, 2008

The genetically modified MON810 maize seed has just been banned. Marie-Monique Robin draws an alarming portrait of Monsanto, the firm that invented it.

“You should carry out an investigation into Monsanto. We all need to know the truth about this American multinational, seeing that it is laying hands on the world’s seeds, and therefore on the world’s food.” The request came from an Indian farmer; it did not fall on deaf ears, for the journalist nearby was Marie-Monique Robin, who was an experienced investigative reporter and had already made several documentaries on biodiversity and what threatens it. The name was familiar to her: a North-American multinational with a frightful record, one of the industrial age’s worst polluters, world leader on the GM plants market, which threatens to grow into a monopoly that will jeopardize food safety the world over.
Marie-Monique Robin plunged into the investigation and spent days and nights on the internet. Her first surprise was to find that “Everything was there, and had been there, before our very eyes, for quite a long time. The company has been so often taken to court that lots of its in-house data are now de-classified and available on line. Then I went to check the data in the field.”

For three years the journalist travelled the world, all over South and North America, Europe, and Asia. She meticulously put the pieces of the jigsaw puzzle together. Although Monsanto’s chief executives refused to be interviewed, she made a point of giving the company’s viewpoint through written and video records. Nicolas Hulot makes this clear in the preface: “Her book is no pamphlet based on fantasies and gossip. It brings to light a dreadful reality.” The company’s story as told by Marie-Monique Robin is instructive indeed. Orwell himself would have done no better.

More…

Ozone Rules Weakened at Bush’s Behest

Friday, March 14th, 2008

– It could be argued that one of the few clear wins that the environmental movement has had in recent decades against the many creeping threats against global ecology has been humanity’s response to the ozone depletion threat.

– Now our president has seen fit to dilute part of this success. He will not be remembered well by history and all the generations that will follow us.

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EPA Scrambles To Justify Action

The Environmental Protection Agency weakened one part of its new limits on smog-forming ozone after an unusual last-minute intervention by President Bush, according to documents released by the EPA.

Ozone holeEPA officials initially tried to set a lower seasonal limit on ozone to protect wildlife, parks and farmland, as required under the law. While their proposal was less restrictive than what the EPA’s scientific advisers had proposed, Bush overruled EPA officials and on Tuesday ordered the agency to increase the limit, according to the documents.

“It is unprecedented and an unlawful act of political interference for the president personally to override a decision that the Clean Air Act leaves exclusively to EPA’s expert scientific judgment,” said John Walke, clean-air director for the Natural Resources Defense Council.

The president’s order prompted a scramble by administration officials to rewrite the regulations to avoid a conflict with past EPA statements on the harm caused by ozone.

Solicitor General Paul D. Clement warned administration officials late Tuesday night that the rules contradicted the EPA’s past submissions to the Supreme Court, according to sources familiar with the conversation. As a consequence, administration lawyers hustled to craft new legal justifications for the weakened standard.

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FDA Investigation Leads to Several Indictments for Importing Contaminated Ingredients Used in Pet Food

Sunday, March 9th, 2008

Contaminated pet food caused pet illnesses and deaths last year

The U.S. Food and Drug Administration’s (FDA) Office of Criminal Investigations announced that two Chinese nationals and the businesses they operate, along with a U.S. company and its president and chief executive officer, were indicted by a federal grand jury today in separate but related cases. The indictments are for their roles in a scheme to import products purported to be wheat gluten into the United States that were contaminated with melamine. These products were used to make pet food.

Xuzhou Anying Biologic Technology Development Co., LTD. (XAC), a Chinese firm that processes and exports plant proteins to the United States; Mao Linzhun, a Chinese national who is the owner and manager of XAC; Suzhou Textiles, Silk, Light Industrial Products, Arts and Crafts I/E Co. LTD. (SSC), a Chinese export broker that exports products from China to the United States; and Chen Zhen Hao, president of SSC and a Chinese national were charged in a 26-count indictment returned by a federal grand jury today in Kansas City, Mo.

Also indicted were ChemNutra, Inc., a Las Vegas, Nevada corporation that buys food and food components from China to sell to U.S. companies in the food industry, along with ChemNutra owners Sally Qing Miller and her husband, Stephen S. Miller, who were charged in a separate, but related, 27-count indictment. Sally Qing Miller, a Chinese national, is the controlling owner and president of ChemNutra; Stephen Miller is an owner and CEO of ChemNutra. The indictments charge all seven defendants with delivering adulterated food that contained melamine, a substance which may render the food injurious to health, into interstate commerce; introduction of a misbranded food into interstate commerce; and other charges.

The indictments allege that more than 800 tons of purported wheat gluten, totaling nearly $850,000, was imported into the United States between Nov. 6, 2006, and Feb. 21, 2007. According to the indictments, SSC falsely declared to the Chinese government that those shipments were not subject to mandatory inspection by the Chinese government prior to export.

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New High In U.S. Prison Numbers

Monday, March 3rd, 2008

Growth Attributed To More Stringent Sentencing Laws

More than one in 100 adults in the United States is in jail or prison, an all-time high that is costing state governments nearly $50 billion a year and the federal government $5 billion more, according to a report released February 28th.

With more than 2.3 million people behind bars, the United States leads the world in both the number and percentage of residents it incarcerates, leaving far-more-populous China a distant second, according to a study by the nonpartisan Pew Center on the States.

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Financial instability

Thursday, February 21st, 2008

– One of the ‘legs’ of the Perfect Storm Hypothesis asserts that our first-world hi-tech societies are like houses of cards; being built higher and high each year and growing more unstable as we go.

nasdaq-stock-market.jpg– The increasing snarl of inter linkages and interdependencies are making the entire system more unstable. Many folks feel, however, that the additional redundancies should make it more robust but that is an irrelevancy because the deepest truth is that a chain is only as strong as its weakest link.

– The following two stories are both from the financial world and they both illustrate how something (insurance) that one would assume would make a system more robust against failure has, in these cases, actually made it more fragile.

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story #1:

Bonds Unbound by James Surowiecki on the Financial Page of The New Yorker Magazine, Feb 11, 2008

story # 2:

Arcane Market Is Next to Face Big Credit Test by Gretchen Morgenson, New Yorks Times, Feb 17, 2008

– research thanks to L.A.

– The second article is from the NY Times and they insist that folks have an ID and a PW in order to read their stuff. You can get these for free just by signing up. However, a friend of mine suggests the website bugmenot.com :arrow: as an alternative to having to do these annoying sign ups. Check it out. Thx Bruce S. for the tip.

UBS Reports Record Loss After $14 Billion Writedown

Wednesday, January 30th, 2008

– This story is not remarkable in and of itself. There are always financial reversals and some of them can be quite uncomfortable for those affected.

– What I find notable here is that this story is part of a pattern that’s been growing for months now. I can’t recall a time when so many stories of financial losses have appeared. The world’s financial markets certainly have a lot of resilience and protections built into them – not to mention the vested interests of those who participate in them and who therefore want to see them healthy. But there must be a limit somewhere to just how many hits the markets can take without deep instability setting in.

– Here are a list of such stories plucked from the ever passing river of world news and data:

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UBS Reports Record Loss After $14 Billion Writedown

FDIC Approves the Assumption of all the Deposits of Douglass National Bank, Kansas City, Missouri

Banks may need $143 billion in fresh capital

French Bank Rocked by Rogue Trader

SunTrust: $555 Million in Write-Downs

Wachovia profit falls further than expected (98%)

BofA: $5.28 Billion in CDO Write-Downs

Writedowns Surpass $100 Billion

– I could go on, but need I say more?…

Massive wind farm ‘turned down’

Saturday, January 26th, 2008

– The logic of the authorities in the British Isles is amazing, to say the least. 

– Back on 12Jan08, I wrote a piece on the folks in Wales going ahead with the biggest open coal mine in the British isles.

– And now, here in Scotland, they’re refusing to build wind mills for power generation because they want to preserve the local wetlands.  Bloody amazing.

– One has to wonder how much the coal industry may have supported the one and opposed the other with big money back-room arm-twisting.   

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Plans to build one of Europe’s biggest wind farms on the Isle of Lewis are set to be turned down, BBC Scotland understands.

The BBC’s Gaelic news service, Radio nan Gaidheal, has learned that Scottish Government ministers are “minded to refuse” the 181 turbine scheme.

More than 5,000 letters of objection to the proposals were received by the Scottish Government.

It is believed environmental concerns are behind the decision.

An official announcement from the Scottish Government is not expected for a further two or three weeks.

A Scottish Government spokesman said: “No final decision has been taken and ministers are working towards finalising and announcing a decision in the near future.”

A spokesman for Lewis Wind Power said they welcomed the Scottish Government’s commitment to make a swift decision on the application.

He said: “We continue a dialogue with Scottish Government officials about our application.”

Campaigners had warned the wind farm would cause “irreversible damage” to one of the country’s most important wetland sites.

The Royal Society for the Protection of Birds also opposed the project, disputing job figures put forward by developers Lewis Wind Power and raising concerns about the farm’s impact on local wildlife.

Supporters of the turbines pointed to potential economic benefits, claiming more than 400 jobs would be created during construction.

More…

Globalization

Friday, January 18th, 2008

globe.jpgThere are a lot of ways to look at the topic of Globalization. And which way you choose to look at it depends on which aspect of it you focus on.

One way to see Globalization is as a leveling process wherein the world’s resources are redistributing themselves. Poorer nations can do the work for richer nations cheaper than the richer nations could have it done at home, so the rich nations send the work offshore and money flows into the poorer nations while increased profits flow into the stockholder’s pockets in the richer nations. People in the rich nations pay less for the products, people in the poor nations have higher incomes and the corporations in the richer nations deliver better returns to their stock holders. So what’s not to like?

poor_home.jpgFor one thing, the well paying jobs in the richer nations are being sent offshore to be done for less and this reduces the income of the folks who previously worked in the rich nations. This in turn increases the gap between the wealthy folks in the rich nations who own the stocks and are getting richer and the folks in the rich nations who used to do the work (which is now outsourced) who are now getting poorer.

Some folks imagine the rich nation is better off for all of this but I don’t think so. The money sent overseas to pay the workers doing the outsourced work is money that has left the country. The increased profits made by the stockholders in the rich country is money that remains in the rich country. So, if the folks overseas have more money and the stockholders have more money, then who has less? Yes, the folks who used to work in the well paying jobs in the rich country.

So, one way to look at globalization is to say that the stockholders in the rich country, in order to increase their wealth, have sold the workers in their own country down the river.

People say that globalization is better because is it distributing wealth more equitably between the richer and poorer countries but that’s not really the point. If the stockholders in the rich countries were not getting richer in the process (which is the point), there would be no redistribution of wealth. But, these stockholders are quite willing to give away the wealth of the workers in their own country if it will increase their own personal wealth.

France is healthcare leader, US comes dead last: study

Wednesday, January 9th, 2008

Profit verses what’s best for the people. Here’s a classic story that reveals the inevitable outcome when the pursuit of profit runs rough shod over all other considerations.

The richest country in the world with the worse health care of all the western industrialized nations.

All of this began, I think, when corporate America began to take over the medical world in the U.S. Corporate profit driven medicine – now there’s an oxymoron.

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WASHINGTON (AFP) — France is tops, and the United States dead last, in providing timely and effective healthcare to its citizens, according to a survey Tuesday of preventable deaths in 19 industrialized countries.

The study by the Commonwealth Fund and published in the January/February issue of the journal Health Affairs measured developed countries’ effectiveness at providing timely and effective healthcare.

The study, entitled “Measuring the Health of Nations: Updating an Earlier Analysis,” was written by researchers from the London School of Hygiene and Tropical Medicine. It looked at death rates in subjects younger than 75 that could have been prevented by timely and effective medical care.

The researchers found that while most countries surveyed saw preventable deaths decline by an average of 16 percent, the United States saw only a four percent dip.

The non-profit Commonwealth Fund, which financed the study, expressed alarm at the findings.

“It is startling to see the US falling even farther behind on this crucial indicator of health system performance,” said Commonwealth Fund Senior Vice President Cathy Schoen, who noted that “other countries are reducing these preventable deaths more rapidly, yet spending far less.”

The 19 countries, in order of best to worst, were: France, Japan, Australia, Austria, Canada, Denmark, Finland, Germany, Greece, Ireland, Italy, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, the United Kingdom and the United States.

More…

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A hat tip to cryptogon for this story