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Showing posts from July 28, 2015

The Yellen Subsidy: Fed Chair Pumps for Keeping Financiers Fat Over Filling Potholes

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[Banksters and the corporatocracy in full action. As Yves Smith says, "the financial services industry is so heavily subsidized that it should not properly be considered private enterprise." *RON*]
Yves Smith, Naked Capitalism, 27 July 2015

The last few years has witnessed a rising tide of academic studies that have concluded that financial systems in advanced economies like the US have become outsized and are a drag on growth. One of the most recent and particularly devastating pieces came out of the IMF. That study found that Poland’s banking system was at the optimal level of product sophistication and penetration.

Since the financial services industry also so heavily subsidized that it should not properly be considered private enterprise, these articles are an indictment of how the sector operates. Banks should be regulated like utilities, or at least have their subsidies greatly reduced.

Yet the Fed is firmly against taking even mild …

5 Reasons You Shouldn’t Trust ‘Organic’ From China

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[Canada has imperfect but reasonably good regulations concerning what can or cannot be called organic (see this government web site for details), though no country is without 'slippage' in their controls. *RON*]

By Irene Luo, Epoch Times, 26 July 2015

After numerous food scares in China, the Chinese have become disillusioned with the communist regime’s ability to properly regulate the food industry. And the contaminated food does not just stay in China. The U.S. Food and Drug Administration (FDA) regularly refuses shipments from China for “filth,” unsafe additives, veterinary drug residues, and mislabeling. In 2007, melamine-tainted pet treats from China reportedly killed thousands of cats and dogs in the United States.

The answer for some victimized Chinese is now organics—a guarantee that their food products will be produced in an environmentally responsible way and not be grown with pesticides, synthetic fertilizers, antibiotics, growth…

Joe Oliver 'Overstepped' With Comments On Bank Of Canada Policy: Expert

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[We should switch to the US model. In the States, the President can publicly criticize the Federal Reserve chair, but cannot fire the chair over policy disagreements. In Canada, the Bank of Canada governor is employed directly by the Finance Minister, but tradition dictates that they do not criticize one another in public. Oliver is trying to have things both ways by publicly contradicting the governor while still being able to force the governor's resignation. *RON*]
CP / Huffington Post, 27 July 2015

OTTAWA — The federal finance minister raised eyebrows last week by publicly sharing his opinion on monetary policy — not necessarily because of his view on the matter, but because some believe he ventured too far onto the Bank of Canada's turf.

In response to a reporter's question, Joe Oliver said the policy measure known as quantitative easing was "not on the table" as a response to Canada's ongoing economic downturn.

The co…

Victoria shuts down Yellow Giant gold mine in northwestern B.C. over pollution spills

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[Gold mining operations commonly leak arsenic. Gitxaala First Nation plans legal action against the Yellow Giant operation, but the environment ministry claims the risk to humans and other animals is minimal. *RON*]

By Gordon Hoekstra, Vancouver Sun, 27 July 2015

The province has shut down the small Yellow Giant underground gold mine on Banks Island in northwest B.C. for spilling pollution on land and into creeks, lakes, and a wetland.

The B.C. environment ministry said the discharge reached the ocean through a creek, several beaver-dam-created wetlands and Banks Lake before entering the ocean at Surrey Bay, but it is not believed it will harm humans or animals.

The Yellow Giant incident is the latest of several mine waste spills — although much smaller in magnitude — since the catastrophic dam failure at Imperial Metals’ Mount Polley gold and copper mine in August 2014. There have been small spills at the Myra Falls and Copper Mountain mines in th…

Hillary Clinton Refuses to Take a Position on the Keystone Pipeline

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[Shillary. Maybe she's paying Donald Trump to run? ;-) "I think it's bogus. Look, the notion that she can't talk about it because the State Dept. is still working on it makes no sense. By that test, she shouldn't be talking about Benghazi or Iran or anything else either. The more she tries to duck the question, the more the whole thing smells." Bill McKibben. *RON*]

—By Tim McDonnell, Mother Jones, 27 July 2015

Hillary Clinton took a strong stance on clean energy Monday, telling a crowd in Des Moines, Iowa, that her efforts to tackle climate change would parallel President John F. Kennedy's call to action during the space race in the 1960s.

"I want to get the country back to setting big ambitious goals," Clinton said. "I want us to get back into the future business, and one of the best ways we can do that is to be absolutely ready to address the challenge of climate change and make it work to our advant…

RCMP tracked Toronto activists with fake Facebook profile

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[Aside from being objectionable, this seems both ineffective and amateurish. Mounties created bogus profile so as to reach out to protest groups from Black Lives Matter Toronto to Idle No More. *RON*]

By: Laurent Bastien Corbeil, Toronto Star, 27 Jul 2015

Has a waddle of penguins ever “liked” your Facebook page? If so, your account may have been monitored by the RCMP.

Officers with the national police force used a Facebook profile to pose as a broke student so as to communicate with protest groups in Toronto, according to documents obtained under the Access to Information Act.