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written by ABSTRACTMIND @ 11:49 am, ,
THE NEW PINOCCHIO !!!
This Prime Minister main objective is to work for the oil industry, to allow the oil companies such as Galp, BP, Repsol and Cepsa to maintain a oil cartel were by final consumer prices keep going up on a weekly basis, as a example this year alone prices for the consumers at the petrol pump have gone up more than 11% while crude on the international market has dropped to below the $35 per barrel.
This attitude will continue to place the population under hard conditions as consumer goods and energy prices keep going up uncontrolled.
This form of corruption can only have one end...the removal of the government from power!!!
The population will have this opportunity during this year as elections are to take place, therefore the population may choose a government that works for the people and not for the oil companies...
There is no courage to debate this real issue in public, journalists, political parties, including the European Parliament prefer to look the other way and allow this Form of corruption to continue.
written by ABSTRACTMIND @ 2:17 pm, ,
Standard and Poor's. Rating..
This is now being debated in a meeting with the EU financial ministers.
The risk factor for investment has dramatically increased in just over a year as there is now a more cautious attitude regarding the financial stability of the Portuguese state and also the recent Standard and Poor's. Rating of Portugal.
According to WorldWatch the credit default swaps (CDS) of the foreign debt payable in five years are now situated in the 129 points, this value represents a increase in 245% compared to the 34.6 points of last year, foreign debt payable in ten years has also worsen and according to CDS are now situated in the 123 points compared to the 41,75 points of last year.
Last month the Standard and Poor's rating of the Portuguese debt dropped from (AA-) to (A+), as they consider that the structural reforms of the Government are insufficient, this in turn means bigger interest rate (yield) ...
See here attached report
This is the result of a bad government, one that hides the real issues from the population and in general works not for the people but for the oil industry such as Galp,BP,Repsol and Cepsa...
NOTE: Standard and Poor's are not a trustworthy reliable agency, last year they rated Iceland as excellent and two days later Iceland declared bankrupty.
written by ABSTRACTMIND @ 11:10 am, ,
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written by ABSTRACTMIND @ 12:19 pm, ,
Viktor Yuschenko, who assumed power in Ukraine in 2004, wanted to gain popularity to this issue and to attract the world he changed Goldomor to Holodomor so that it can be sound like holocaust. But this time also the EU rejected this as an act of genocide which was a defeat for Ukraine.
Holodomor or Golodomor is the great Soviet famine of 1932-1933 affected most major grain-producing agricultural areas of the Soviet Union, including Northern Caucasus, Volga Region, South Urals, West Siberia, Kazakhstan, and Ukraine.
The communist government led by Joseph Stalin seized tonnes of grains from common people and exported them to the west and other European countries in order to maintain the rapid developments due to industrialization or the industrial revolution. This aggressive policy of the communists led of the death of around 6-8 million innocent people due to poverty and hunger during 1932-33.
written by ABSTRACTMIND @ 7:22 am, ,
Consumer Confidence and corruption !!
Caterpillar Inc. and Home Depot Inc. were among companies this week that said they will cut at least 74,000 workers from payrolls in coming months as sales drop and the recession deepens.
Caterpillar, the world's largest maker of bulldozers and excavators, said yesterday it's cutting 20,000 jobs and this year's profit and sales will trail analysts' estimates. The jobs include 12,000 employees, or 11 percent of the workforce, and 8,000 contractors.
The consumer is being squeezed on so many sides, we're going to have to see some turn in the labour market before we see much upside for consumer confidence. Consumers in Europe remain quite pessimistic about the state of the economy and about their earnings, we can't say that the worst of times are behind us.
The recession in Portugal will continue to aggravate mainly because the energy companies like Galp,BP.Repsol and Cepsa continue to inflate oil prices for the consumer, even now as crude prices during the week dropped more than 10%, the Portuguese government together with the oil companies GALP,BP,REPSOL,CEPSA have once more increased final consumer prices for the motorist...
WorldWatch investigated and found that there is a monopoly of fixed prices between these companies and government, the month of January the oil prices for consumers increased more than 7 cents per litre, while in the international crude market prices dropped more than 10%...
The reason for this final increase is the fact that one of Portugals refineries had to closed for six weeks, so to counterbalance the import of refined crude
Galp decided to increase consumer prices and in this way the company profits for all involved does not suffer any loss.
As there is a cartel in price fixing, one oil company increases they all follow and since all authorities are involved in this form of corruption this country will continue to suffer higher energy prices..
Its time for the Portuguese population to choose a new government, one that will work for the people and not for the oil companies...
written by ABSTRACTMIND @ 9:19 am, ,