Thursday, November 24, 2011

Euro collapse edges closer

The rate on sovereign bonds in Europe continues to climb, even in Germany which has the strongest non-communist economy in the world. Things are so bad that the British Pound is starting to look good.

US 3rd quarter GDP was revised down to only 2% growth this week. Given years of stagnation while the population continued to grow, this could be viewed as negative growth since wages for the 99% continue to fall. Last week's initial unemployment claims were up slightly, still close to 400,000/week, so there is no good news there.

The declining standard of living is reflected in the higher cost of the traditional Thanksgiving dinner that rose 13% over last year. Wall Street speculators controlling the price of commodities such as grain and fuel are driving up production costs. With the food supply firmly under the control of large transnational corporations you can bet the increased costs are passed along. Throw in the cost of new packaging to make the prices look the same, you have an added increase in the real cost that consumers don't "see" but must pay.  Well at least we aren't turkeys, even if the billionaires don't see us any different.

5 comments:

Earl Stell said...

P2,

Need your help. Former Republican Sen. Alan Simposon recently repeated the right wing talking point citing the gross % of income taxes paid by 1 percenters as justification for current tax law. The same talking point uttered by a high-powered Republican operative has also recently rendered Ed Shultz putty in the hands of his opponent (on his own show!). Do you know if anybody besides Senate candidate Elizabeth Warren has ever mentioned a d-bunk comeback for the seemingly unstoppable argument? Can we come up with a credible comeback with a breakdown of how much the income these corporations and their shareholders generate on the back of rest of the 99% of the nation?
1) public and private education
2) roads bridges highways railroads
3) ports
4) utilities
5) court systems
6) police / military protection
7) direct subsidies
8) tax incentives

Anonymous said...

Don't forget 'BUY CANNED GOODS'!
www.theglobeandmail.com/life/health/new-health/paul-taylor/bpa-being-absorbed-from-canned-food-study/article2248262/
BPA being absorbed from canned food: study"
Is it safe to eat canned foods? ... The analysis revealed that when participants ate the canned soup they experienced more than a 1,000 per cent increase in their urinary concentrations of BPA, compared to when they dined on fresh soup.

The study, published this week in the Journal of American Medical Association, represents one of the first attempts to measure BPA urine levels soon after the consumption of canned foods.

Even so, the study raises more questions than it answers. Because all urine samples were collected the same time of day, the researchers can't say how high the BPA levels rose. Nor can they say how quickly the BPA was excreted from the body. Plus, a lot more research is needed to determine the long-term health effects from this type of exposure.

Although the team investigated only canned vegetable soup, the researchers suspect they would find similar results with other canned food and possibly canned beverages as well.
So ya got THAT goin' for ya. Check yer canned good for BPA!
imbolllorightsmaniapprvovethismessage in CLE OH

Anonymous said...

Don't forget 'BUY CANNED GOODS'!
www.theglobeandmail.com/life/health/new-health/paul-taylor/bpa-being-absorbed-from-canned-food-study/article2248262/
BPA being absorbed from canned food: study"
Is it safe to eat canned foods? ... The analysis revealed that when participants ate the canned soup they experienced more than a 1,000 per cent increase in their urinary concentrations of BPA, compared to when they dined on fresh soup.

The study, published this week in the Journal of American Medical Association, represents one of the first attempts to measure BPA urine levels soon after the consumption of canned foods.

Even so, the study raises more questions than it answers. Because all urine samples were collected the same time of day, the researchers can't say how high the BPA levels rose. Nor can they say how quickly the BPA was excreted from the body. Plus, a lot more research is needed to determine the long-term health effects from this type of exposure.

Although the team investigated only canned vegetable soup, the researchers suspect they would find similar results with other canned food and possibly canned beverages as well. ...
It would be interesting to see if a similar spike arises with soda because some people drink a lot of canned soda during the day, said Dr. Michels. And if that's the case, you may have continuously elevated levels of BPA.

Scientists have warned that BPA could interfere with numerous biological processes because its structure resembles the hormone estrogen. It has been shown to interfere with reproductive development in animals and it has been linked to cardiovascular disease, diabetes and obesity in humans. Aside from cans, it's also used to make some hard, clear plastics, dentistry composites and sealants, and some cash register receipts.
So ya got THAT goin' for ya.
imbolllorightsmaniapprvovethismessage in CLE OH

prairie2 said...

On BPA, it depends what the base level was before multiplying it by a 1000. It isn't necessarily a big deal. I think the reason (excuse) they started coating cans with plastic was to keep the zinc and such out of the food, it probably allows the use of cheaper cans. I'm sure they could do better, that's what "burdensome" government regulation is for.

On taxing the one percent (really the 0.1%), the only reason the one percent pay such a high percentage of income taxes is that they have all the income. All other taxes that the rest of us pay are far more lopsided the other way. This allows them to overwhelm the rest of us. All of their "growth" comes at our expense.

Every year their "wealth" grows and ours shrinks. Arguing over "fair share" is a false premise. If allowed to grow they will grow until we have nothing. This is the way the math works, it always has. Look what happens to a town and more importantly to the surrounding towns when a Walmart comes in. The one percent are doing this to the entire country.

Anonymous said...

"The declining standard of living is reflected in the higher cost of the traditional Thanksgiving dinner that rose 13% over last year."

It wouldn't hurt mostfat Americans to eat 13% less.