Stock World Weekly 2-27-11
by ilene - February 27th, 2011 8:22 am
Here’s the latest edition of Stock World Weekly: Irresistible Forces Meet Immovable Objects. - Ilene
Excerpt:
On Saturday, February 27, the Security Council of the United Nations (UN) voted unanimously to institute sanctions on Libya, including travel bans and freezing the assets of Muammar al-Gaddafi and others associated with his regime. Protests have dragged into their twelfth day, and protestors refuse to yield in the face of utterly horrific retaliation by Gaddafi’s loyal forces. U.S. ambassador to the UN, Susan Rice said, “When atrocities are committed against innocents, the international community must act with one voice – and tonight it has.”
The Telegraph reported over the weekend that Gaddafi apparently made good on his threats to trigger a civil war, using irregular forces largely composed of hired mercenaries to launch a counterattack against protesters. “Anywhere we go there is danger,” said one woman, a 28-year-old mother of four who asked not to be named. “All we want is food and fresh water for our children but it is impossible to find. Security is the only concern of the authorities.”
An accurate report of the death toll is impossible to obtain at this time, but on Wednesday, Italy’s Foreign Minister, Franco Frattini said, “We believe that the estimates of about 1,000 are credible.” The situation in Libya has deteriorated since then. Multiple stories coming in from all over the country have cited dozens to hundreds of casualties in each city. It appears that Libya has slipped into the abyss of complete social breakdown and civil war.
This is just one example of the tide of popular unrest that has been unleashed in the wake of the Federal Reserve’s and other central banks’ inflationary policies. The chart below shows the U.S. Adjusted Monetary Base increasing from $1.75Tn in 2009, to $2.0Tn in 2010, and now nearing $2.3Tn, an increase of $300Bn in just two months! This represents an increase of 35% in less than 18 months. (The U.S. Monetary Base is the total amount of currency that is circulating in the hands of the public or in the commercial bank deposits held in reserves of member banks of the Federal Reserve System.)
Another revolt of a more peaceful nature took place in Ireland. The long-dominant Fianna Fail party was brutally rejected by Irish voters, taking just 15.1% of the vote and losing…
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The Black Death
by ilene - April 12th, 2010 11:05 pm
The Black Death
By RALPH NADER, writing at CounterPunch
The tragedy at the Massey Energy Company’s very profitable Upper Big Branch coal mine at Montcoal, West Virginia, which so far has cost 25 miners’ lives, is another reminder of the immense human and environmental cost of this fuel.
More coal miners have lost their lives from cave-ins, explosions and lung disease since 1900 than all the Americans who died in World War II. The devastation extends to chronic sickness from breathing coal dust and to maimed coal miners, often seen walking on crutches in the hollows of Appalachia.
During our struggle in the late sixties and seventies to get Congress to authorize the federal government to regulate these pugnacious corporations, and protect among the most defenseless workers in our country (try working 700 to 1800 feet underground six days a week), coal company executives perpetuated a culture tolerant of safety violations. Coal companies are known for greasing their way with political campaign contributions, gross underpayments of property taxes and intimidation of people in poor coal mining country who had few alternative employment opportunities.
Safety and health improvements finally came from the forces of the law 
(especially the Coal Mine Health and Safety Act of 1969) and from an awakened United Mine Workers union. The safety efforts have had to overcome industry lawyers, lobbyists, corporate cover-ups, refusals to pay fines and other misbehavior stemming from unaccountable corporate bosses sitting in fancy offices far from the coal fields.
Half of the nation’s coal companies were fined a modest total of $7 million under the first Bush Administration for faking coal dust samples in 847 underground mines. This is just a cost of doing business instead of a serious deterrent to an epidemic of deadly coal miners pneumoconiosis.
Until new leadership came under Joseph Main in 2009 to run the Mine Safety and Health Administration (MSHA), Richard L. Trumka, former coal miner and head of the United States Mine Workers (UMW) union and now president of the AFL-CIO, said that George W. Bush converted “MSHA from an enforcement agency to a business consulting group” to King Coal.
With the sharp decline of UMW workers, as non-union strip-mining expands, studies have shown a consistently better safety record of unionized coal mines. The devastated Massey mine was non-union.…
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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...
Ilene is editor and affiliate program
coordinator for PSW.
