Where does it all end?

Important reminder: Today is your last day to register for my urgent Squawk Box conference call, which I’m holding at noon tomorrow. Click here.

The big news: The U.S. labor market is improving all right — but not in the way the government would have you believe.

Walt Disney’s Robert Iger got a 30 percent pay hike last year, taking home total compensation of $28 million.

The CEOs at DirectTV and at Stanley Black & Decker made even more — over $32 million each.

But Occidental Petroleum CEO Ray Irani made more than both those guys combined: He raked in $76 million (after a 142 percent jump in comp).

And consider Viacom’s P. Dauman, who bumped up his take by 149 percent and made $84.5 million!

All in just one year!

Heck, if you’re an average American worker and you’d like to make that much money, you’ll have to work for 2,074 years. (With no long vacations or leaves of absence, of course.)

And if you think that’s “a bit too long,” consider workers making the federal minimum wage of $7.25 per hour. To match the earnings of Viacom’s CEO, they’ll need 5,825 years of hard labor. Heck, even if Methuselah could have lived till 2011 A.D., he still wouldn’t have made it.

Granted, few Americans want a socialist-style “equality.” But for anyone who still subscribes to some notion of fair play, these kinds of numbers can invoke only laughter or nausea.

The more pressing issue, however, is about all those who don’t have a job to begin with. Sure, Washington rejoiced on Friday, announcing that the official unemployment rate ticked down to 8.8 percent. But that narrowly focused number overlooks three shocking realities:

Shocking reality #1 is this: If you include discouraged workers who have given up looking and part-time workers who want a full-time job, the Labor Department’s “all-inclusive” unemployment rate in the U.S. (dubbed “U6?) is 15.7 percent.

Shocking reality #2: But that 15.7 percent figure still excludes folks who have given up looking for more than a year. Economist John Williams of www.shadowstats.com estimates that if you include them as well (as the government used to years ago), the true all-inclusive jobless rate in America is 22 percent!

Shocking reality #3 is an admission that comes from the U.S. Labor Department itself. In March, only 64.2 percent of the adult population was participating in the labor force. That’s an all-important measure of the dire state of affairs. And it’s now stuck at lowest rate in over a quarter century (see chart).

Is this all we get from trillions of dollars of stimulus and trillions more of Fed money printing?

Unfortunately, no! Those trillions also buy much bigger trouble — in the form of the greatest-ever debts to foreign countries and to future generations.

But I’m not the only one deeply concerned about America’s future.

Senator Mark Warner says “we’re approaching financial Armageddon.” Senator Joe Manchin declares that our national debt and deficit are a “fiscal Titanic.” And ten former chairmen of the White House Council of Economic Advisers warn of a crisis that could “dwarf” the debt collapse of 2008.

Where does it all end? Right now,
experts see only two broad choices …

Choice A. We embark on a deflationary path — massive cutbacks and falling prices. Following in the footsteps of Ireland or the UK, Washington slashes government spending and risks the kind of mass protests we saw on the streets of London last Saturday.

Choice B. We continue on an inflationary path — more spending, more money printing, and surging prices. We follow a trajectory reminiscent of Brazil in the 1970s, of the failed governments of the Middle East, and even the hyperinflation of pre-Hitler Germany.

Now, here are my next questions, first asked in my Money and Markets last week …

Which one would you pick: A or B?
Or is there a third choice?

In response, friends on my Facebook page have come up with some very interesting answers …

Lisa C. writes on my Facebook wall that deflation (cutbacks and falling prices) would be “the lesser of the two evils,” especially if the sacrifice is shared by the rich and powerful. “What if enough people just refused to play the game?” she asks. “I think a lot of people are on their way to doing that.”

Myron P. may be one of them. He says: “I am staying home more, cooking all my meals, baking my own bread, paying down my debt, growing a garden … anything I can to save a buck. I know some of these things sound extreme, but at least I know my money will serve me well when I need it.”

James S. adds that the solutions will either come with a mass movement or through the normal chaotic democratic process. “It’s nothing new,” he writes. “Sometimes it’s necessary for life forms to make the choice between change and extinction.”

Drina F. concludes that there is a third choice: To compromise — lower spending and appealing to everyone to do the same. “Maybe there would be some deflation,” she writes, “but not a crisis.” In contrast, she believes money printing “seems unconscionable — it’s taking something that doesn’t belong to you.”

Thank you — and many others — for your great input! Now, let me weigh in on the debate …

The End Game

When looking into our crystal ball — no matter how shaky or solid it may be — it’s easy to confuse what we think will be done with what we believe should be done.

Optimists hope that the “will” and the “should” are one and the same. Pessimists conclude that they’re the exact opposite.

Fortunately, in the real world, there is some connection between what most people want and what most people get. But to avoid confusion, let’s first cover the “should” side of the debate … and then talk about what’s actually likely to happen.

Lisa C. nailed the core issue on the head:

Deflation is the lesser of the evils.
Inflation is far more destructive!

Sure, inflation eases the burden of debtors. Even if you owe a lot of money, inflation helps you pay it off with cheaper, devalued money — less pain and more gain.

That’s the main reason inflation gives the semblance of “a recovery,” and even the illusion that “the debt crisis is over.”

But such benefits are almost invariably short lived. They are enjoyed mostly by the privileged few. And even if they’re more widespread or last a bit longer, they almost inevitably backfire in the form of new bubbles, new busts — an even deeper recession with more financial losses, more bankruptcies, and more layoffs.

Worse, the inflation comes with …

Still more bad debts: Everyone, the government included, is once again encouraged to borrow, spend, and speculate — adding a whole new layer of burdensome debts in a nation that is already bogged down in the biggest debts of all time. Massive hidden unemployment: The official jobless numbers go down and politicians claim victory. But the ranks of long-term unemployed continue to grow. Moreover, even those who are employed suffer a steep erosion in the buying power of their wages. The ultimate moral hazard: Speculators, among the primary culprits of boom and bust, are rewarded with more cheap money and credit. Meanwhile, savers, essential to help finance a true recovery, are actually punished: If you’re saving for college tuition, retirement, or your long-term health care, after you deduct inflation and taxes, you earn zero — or less than zero — on your money. Erosion and destruction of the dollar: Surging prices come with a plunge in the purchasing power of the dollar. And as the value of the dollar falls, your savings are eroded or even destroyed. As a result, people have little incentive to work hard and every incentive to find alternative schemes for making money. Inflation corrupts society and sabotages efforts to bring about a lasting recovery.

In contrast, deflation is far less damaging to the economy and to society.

Yes, it can come with harsh financial losses, more corporate bankruptcies, and higher unemployment. But those consequences are largely unavoidable anyway. More importantly, there are major, lasting benefits that can come with deflation:

A long-overdue reduction of burdensome debts: Debts are paid off or liquidated in bankruptcies. Bad debts are cleansed from the economic body, creating a clean slate for future growth. Real wages for the employed: Even in the worst case, 80 percent or more of the work force remains employed. And the money they earn is worth something. In fact, as prices fall, they can buy more with that money. Just deserts: Speculators who take the most risk during the bubble suffer the biggest losses, while those who have the foresight and prudence to save their money benefit from higher real interest rates. In other words, deflation naturally delivers the most punishment to those who cause the busts. And it gives the greatest rewards to those capable of investing in a true recovery. A stronger dollar: The U.S. dollar gains in purchasing power, giving every American a bedrock of value to strive for — to save and to invest prudently. This lays the foundation for shared sacrifice by families, local communities, and the country as a whole.

The Big Dilemma

Most people in the United States reject — and rebel against — deflation because they fear that they will be the prime victims. They will be asked to pay the price — cuts in Social Security and Medicare, lost jobs, even hunger and homelessness.

Adding insult to injury, they assume (based on hard evidence) that, while they suffer, Washington and Wall Street fat cats will continue to party.

Thus, for deflation to be socially and politically acceptable, it must come in three phases:

First, personal sacrifices by the rich and powerful of Washington, Wall Street, and Main Street, including deep declines in their compensation. Second, widespread public support for non-governmental organizations that provide emergency assistance to the hungry and homeless. And third, as soon as the first phases are largely in place, major across-the-board cutbacks in government spending.

That’s what should happen. What actually will happen depends on you, me, and millions of others.

My forecast: Washington will push the debt inflation game as far as it possibly can — to the very brink of the financial Armageddon that so many of us now fear.

Will we fall over the cliff into an American Apocalypse? Or will an 11th hour event save the day? We can talk more about it on Facebook this week. (Click here to join the debate.)

But in the meantime, it’s absolutely essential that you continue to build up your defenses. You can do that passively by moving money to safety. And you can do it pro-actively by turning crisis into opportunity.

I’ll show you how to do both in my special Squawk Box conference call tomorrow at noon. So if you haven’t signed up yet, today is your last chance to do so. Registration is free, but closes promptly tonight at 11:59 PM Eastern Time. Click here.

Good luck and God bless!

Martin

Dr. Weiss began his career in 1971 when he founded Weiss Research, dedicated to evaluating the safety of financial institutions and investments for consulting clients.  He is the publisher and contributing editor of the financial newsletter, Safe Money, known for its track record in picking major turns in interest rates, and serves as co-editor for a number of Premium Services. He is also the author of The Ultimate Safe Money Guide and The Ultimate Depression Survival Guide.

View the original article here

“Mommy, Where Do ETFs Come From?”

It’s the question every parent dreads: “Where do exchange traded funds come from?" If you haven’t heard it yet, you eventually will.

You can just tell the little ones “Ask Ron Rowland," and let me answer the question. Or, after reading today’s column, you might be ready to tackle the question yourself.

ETFs do not come out of thin air. Nor are they delivered by storks. Today I’ll let you in on the secret.

Before we reveal their origin, we must first define what ETFs are. They aren’t mutual funds, nor are they closed-end funds. They are something entirely different that did not exist in the U.S. until 1993.

ETFs are not delivered
this way.

The first ETF was based on the S&P 500 and is still around today, under the symbol SPY. And you can read my 2009 column to learn why ETFs have become the hottest business on Wall Street.

The “secret sauce" that makes ETFs different from stocks, mutual funds, and closed-end funds is the creation and redemption mechanism. This is how new shares enter the world and eventually leave it.

Technical? Yes, but it makes a huge difference in your bottom line. So you need to understand it.

The first thing that happens is that a sponsoring firm — a company like iShares, SPDR, or PowerShares, to name some of the largest — files a registration form with the Securities & Exchange Commission in Washington. The SEC has jurisdiction over the stock markets.

Once the SEC grants registration, are we ready to trade? No, not yet. The ETF is now legitimate but has no public shares. They must be created.

This presents a problem. At this point the ETF is nothing but an empty shell. There are no stocks inside. So why would anyone buy it?

Enter the Authorized Participant (AP)

The AP is typically a financial institution that has a special agreement with the ETF sponsor. The AP assembles a portfolio of stocks that match whatever the sponsor says should be in the ETF. It then gives the portfolio — which may be worth millions of dollars — to the ETF trustee. In return, the AP receives shares of the ETF.

Notice that no cash changed hands in this “share creation" transaction. The AP traded shares of stock for shares of an ETF. The value of the underlying assets is the same. All that’s changed is the wrapper. This is important for tax reasons.

The AP takes the new ETF shares it just received and sells them to other investors via regular transactions on a stock exchange. At this point, these newly created ETF shares are freely traded on the open market.

The entire process works in reverse, too. If the AP has enough shares (typically 50,000) of an ETF, it can make a “redemption" and receive the actual stocks in exchange for the ETF shares.

This creation/redemption process keeps the ETF market price from getting too far above or below the ETF’s actual net asset value (NAV). The NAV is the total value of all the securities in its portfolio, less any liabilities, divided by the number of fund shares outstanding.

If the ETF’s price falls too far below the NAV, the AP will buy ETF shares and exchange them for the actual higher priced stocks. When the ETF is trading higher than its NAV, the opposite occurs. These are often called arbitrage transactions, and they are all part of what makes ETFs unique.

Now you might ask …

How Does Anyone Make Money
from All this Activity?

The same way you do when trading anything else: You sell it for more than you paid.

We can know how much an ETF share is worth by looking at its NAV, which is calculated every 15 seconds during the day. But why would anyone pay more than the NAV? That would be dumb, right?

ETF net asset values are published every 15 seconds.

Not necessarily …

Small investors like ETFs because they offer a diversified portfolio in bite-size portions. For example, you probably can’t buy all 500 stocks of the S&P 500 unless you are very wealthy. But you can buy a few shares of the SPY ETF and get almost the same thing.

I say “almost" because most likely you will have to pay slightly more than the actual NAV when you buy shares of any ETF. You’ll also receive a little less than the NAV when you sell your shares. That’s how the market makers earn their living.

The difference in the buying price and selling price at any given time is called the bid/ask spread and is usually related to how specialized the ETF is. Those covering narrow sectors or illiquid foreign markets have a wider spread. Because they have to compete with each other, though, the difference tends to be very small in ETFs. Add in the convenience factor and it is a good deal for everyone.

Advertisement

Now that you understand the process, why does it matter?

It matters because the creation/redemption mechanism is what makes an ETF liquid and cost-effective. Without it, ETFs would be very much like those old closed-end funds that routinely trade 10 percent above or below their NAV — and sometimes even more.

We got a real-world demonstration of this just in the last few weeks …

The Egyptian stock market closed on January 27 when violence broke out, and stayed closed until last week. And as I wrote on February 3, this meant big trouble for Market Vectors Egypt (EGPT).

With the underlying market inaccessible for so long, no one had any idea what EGPT shares were really worth. And, without the ability to buy and sell the underlying stocks, the creation/redemption process was not able to function properly.

The result was predictable: Dramatically higher price premiums.

At one point, shares of EGPT were trading at a 24 percent premium largely due to the fact that new shares could not be created. It was essentially trading as a closed-end fund. However, EGPT snapped right back in line when the Egyptian market reopened on March 23 after being closed for nearly two months.

Now you know where ETFs come from. Not so difficult, was it? Once you see how creation/redemption works, it actually seems quite simple.

Why didn’t anyone think of it sooner? I don’t know, but I’m glad they finally did. For small investors, ETFs are one of the best inventions ever!

Best wishes,

Ron

Ron Rowland is widely regarded as a leading ETF and mutual fund advisor. You may have read about Mr. Rowland and his strategies in publications such as The Wall Street Journal, The New York Times, Investor's Business Daily, Forbes.com, Barron's, Hulbert Financial Digest and many more. As a former mutual fund manager from 2000 to 2002, Ron was a pioneer in using ETFs inside of mutual funds. Today, he is the editor of International ETF Trader, dedicated to helping investors use ETFs to profit from ever-changing global market conditions.

View the original article here

“Mommy, Where Do ETFs Come From?”

It’s the question every parent dreads: “Where do exchange traded funds come from?" If you haven’t heard it yet, you eventually will.

You can just tell the little ones “Ask Ron Rowland," and let me answer the question. Or, after reading today’s column, you might be ready to tackle the question yourself.

ETFs do not come out of thin air. Nor are they delivered by storks. Today I’ll let you in on the secret.

Before we reveal their origin, we must first define what ETFs are. They aren’t mutual funds, nor are they closed-end funds. They are something entirely different that did not exist in the U.S. until 1993.

ETFs are not delivered
this way.

The first ETF was based on the S&P 500 and is still around today, under the symbol SPY. And you can read my 2009 column to learn why ETFs have become the hottest business on Wall Street.

The “secret sauce" that makes ETFs different from stocks, mutual funds, and closed-end funds is the creation and redemption mechanism. This is how new shares enter the world and eventually leave it.

Technical? Yes, but it makes a huge difference in your bottom line. So you need to understand it.

The first thing that happens is that a sponsoring firm — a company like iShares, SPDR, or PowerShares, to name some of the largest — files a registration form with the Securities & Exchange Commission in Washington. The SEC has jurisdiction over the stock markets.

Once the SEC grants registration, are we ready to trade? No, not yet. The ETF is now legitimate but has no public shares. They must be created.

This presents a problem. At this point the ETF is nothing but an empty shell. There are no stocks inside. So why would anyone buy it?

Enter the Authorized Participant (AP)

The AP is typically a financial institution that has a special agreement with the ETF sponsor. The AP assembles a portfolio of stocks that match whatever the sponsor says should be in the ETF. It then gives the portfolio — which may be worth millions of dollars — to the ETF trustee. In return, the AP receives shares of the ETF.

Notice that no cash changed hands in this “share creation" transaction. The AP traded shares of stock for shares of an ETF. The value of the underlying assets is the same. All that’s changed is the wrapper. This is important for tax reasons.

The AP takes the new ETF shares it just received and sells them to other investors via regular transactions on a stock exchange. At this point, these newly created ETF shares are freely traded on the open market.

The entire process works in reverse, too. If the AP has enough shares (typically 50,000) of an ETF, it can make a “redemption" and receive the actual stocks in exchange for the ETF shares.

This creation/redemption process keeps the ETF market price from getting too far above or below the ETF’s actual net asset value (NAV). The NAV is the total value of all the securities in its portfolio, less any liabilities, divided by the number of fund shares outstanding.

If the ETF’s price falls too far below the NAV, the AP will buy ETF shares and exchange them for the actual higher priced stocks. When the ETF is trading higher than its NAV, the opposite occurs. These are often called arbitrage transactions, and they are all part of what makes ETFs unique.

Now you might ask …

How Does Anyone Make Money
from All this Activity?

The same way you do when trading anything else: You sell it for more than you paid.

We can know how much an ETF share is worth by looking at its NAV, which is calculated every 15 seconds during the day. But why would anyone pay more than the NAV? That would be dumb, right?

ETF net asset values are published every 15 seconds.

Not necessarily …

Small investors like ETFs because they offer a diversified portfolio in bite-size portions. For example, you probably can’t buy all 500 stocks of the S&P 500 unless you are very wealthy. But you can buy a few shares of the SPY ETF and get almost the same thing.

I say “almost" because most likely you will have to pay slightly more than the actual NAV when you buy shares of any ETF. You’ll also receive a little less than the NAV when you sell your shares. That’s how the market makers earn their living.

The difference in the buying price and selling price at any given time is called the bid/ask spread and is usually related to how specialized the ETF is. Those covering narrow sectors or illiquid foreign markets have a wider spread. Because they have to compete with each other, though, the difference tends to be very small in ETFs. Add in the convenience factor and it is a good deal for everyone.

Advertisement

Now that you understand the process, why does it matter?

It matters because the creation/redemption mechanism is what makes an ETF liquid and cost-effective. Without it, ETFs would be very much like those old closed-end funds that routinely trade 10 percent above or below their NAV — and sometimes even more.

We got a real-world demonstration of this just in the last few weeks …

The Egyptian stock market closed on January 27 when violence broke out, and stayed closed until last week. And as I wrote on February 3, this meant big trouble for Market Vectors Egypt (EGPT).

With the underlying market inaccessible for so long, no one had any idea what EGPT shares were really worth. And, without the ability to buy and sell the underlying stocks, the creation/redemption process was not able to function properly.

The result was predictable: Dramatically higher price premiums.

At one point, shares of EGPT were trading at a 24 percent premium largely due to the fact that new shares could not be created. It was essentially trading as a closed-end fund. However, EGPT snapped right back in line when the Egyptian market reopened on March 23 after being closed for nearly two months.

Now you know where ETFs come from. Not so difficult, was it? Once you see how creation/redemption works, it actually seems quite simple.

Why didn’t anyone think of it sooner? I don’t know, but I’m glad they finally did. For small investors, ETFs are one of the best inventions ever!

Best wishes,

Ron

Ron Rowland is widely regarded as a leading ETF and mutual fund advisor. You may have read about Mr. Rowland and his strategies in publications such as The Wall Street Journal, The New York Times, Investor's Business Daily, Forbes.com, Barron's, Hulbert Financial Digest and many more. As a former mutual fund manager from 2000 to 2002, Ron was a pioneer in using ETFs inside of mutual funds. Today, he is the editor of International ETF Trader, dedicated to helping investors use ETFs to profit from ever-changing global market conditions.

View the original article here

Where do you buy rose colored glasses?

Is is just me, or is the news getting more and more worrisome each day? I can't stand to watch it. What they say will never happen, eventually happens.

There's teeny tiny amounts of radiation found in milk in the US now? I thought it wasn't even going to get here to begin with??

So, we're arming possible Al-Quaida in Libya? And....why? Why are we even involved in that? Oh, that's the humane thing to do. They might have been killed at the hands of their crazy leader. Huh? Ummm...what are our troops doing again? Oh yeah. We're fighting Al-Quaida. Or, I think we are. I bet that's a great morale booster.

Humane things to do...help people on US soil? Not right now. All those people without jobs? That's cool. That disabled vet living in a cardboard box can figure it out. Those elderly people who lost their home in a foreclosure scam? Nah. Let's give a gun to the Al-Quaida. Give some money to an illegal immigrant while you're at it. Have a bunch of babies and don't work and you'll fare-well. Oh, and let the cost of oil rise, do no drilling, but let Brazil do it. Make sure food costs more than most people make and cut down on the sizes. This is the United States of America and we help everybody. Else.

What happened to our great nation? I am saddened by what I see. I really am.

I've realized the tin foil hatters aren't too far off base really. The zombies are here. Just take any serious matter and voice your concern to one of those we lovingly refer to as sheeple. They'll say "It's OKAAAAAAY" instead of "BRAAAAAINS"

No, I'm not feeling too politically correct today. I'm frustrated. I see this crap (as I am sure you guys do as well) but the sheeple of the world walk around like zombies saying everything is fine, the government has got our back, there's nothing to worry about, whatever.

I guess the pressure is getting to me because I am alone in this and the rest of my family thinks I'm nuts, even when I voice concerns over the news stories. They think I worry too much. Maybe I do. But someone has to. Food doesn't magically appear in your house or in a garden.

How do you keep your sanity? I try to take things just a day at a time, because I know I am only capable of so much, but time after time of being "shot down" so-to-speak (you worry too much, why do you need a year's worth of food, we don't need another gun, blah blah).....I feel like I'm in quicksand.

Opsec issues seems to keep others from reaching back if I reach out in an attempt to make a like minded friend online, which I understand. I'm not a chatty person (like at the store), I don't get out unless I have to, and I don't attend church. (Please, no religious discussion.) So, I have resigned to the fact that I am preparing alone for my family of 5 and planning on another 5 (mom, dad, etc.)

Are others feeling this stress at all? How are you holding up?

Calgon take me away!!!!!

View the original article here

Where do you buy rose colored glasses?

Is is just me, or is the news getting more and more worrisome each day? I can't stand to watch it. What they say will never happen, eventually happens.

There's teeny tiny amounts of radiation found in milk in the US now? I thought it wasn't even going to get here to begin with??

So, we're arming possible Al-Quaida in Libya? And....why? Why are we even involved in that? Oh, that's the humane thing to do. They might have been killed at the hands of their crazy leader. Huh? Ummm...what are our troops doing again? Oh yeah. We're fighting Al-Quaida. Or, I think we are. I bet that's a great morale booster.

Humane things to do...help people on US soil? Not right now. All those people without jobs? That's cool. That disabled vet living in a cardboard box can figure it out. Those elderly people who lost their home in a foreclosure scam? Nah. Let's give a gun to the Al-Quaida. Give some money to an illegal immigrant while you're at it. Have a bunch of babies and don't work and you'll fare-well. Oh, and let the cost of oil rise, do no drilling, but let Brazil do it. Make sure food costs more than most people make and cut down on the sizes. This is the United States of America and we help everybody. Else.

What happened to our great nation? I am saddened by what I see. I really am.

I've realized the tin foil hatters aren't too far off base really. The zombies are here. Just take any serious matter and voice your concern to one of those we lovingly refer to as sheeple. They'll say "It's OKAAAAAAY" instead of "BRAAAAAINS"

No, I'm not feeling too politically correct today. I'm frustrated. I see this crap (as I am sure you guys do as well) but the sheeple of the world walk around like zombies saying everything is fine, the government has got our back, there's nothing to worry about, whatever.

I guess the pressure is getting to me because I am alone in this and the rest of my family thinks I'm nuts, even when I voice concerns over the news stories. They think I worry too much. Maybe I do. But someone has to. Food doesn't magically appear in your house or in a garden.

How do you keep your sanity? I try to take things just a day at a time, because I know I am only capable of so much, but time after time of being "shot down" so-to-speak (you worry too much, why do you need a year's worth of food, we don't need another gun, blah blah).....I feel like I'm in quicksand.

Opsec issues seems to keep others from reaching back if I reach out in an attempt to make a like minded friend online, which I understand. I'm not a chatty person (like at the store), I don't get out unless I have to, and I don't attend church. (Please, no religious discussion.) So, I have resigned to the fact that I am preparing alone for my family of 5 and planning on another 5 (mom, dad, etc.)

Are others feeling this stress at all? How are you holding up?

Calgon take me away!!!!!

View the original article here

Three Sites Where You Can Monitor U.S. Radiation Levels

EPA map of U.S. radiation monitoring stations

Radiation from Japan’s Fukushima nuclear disaster has been detected in the air in five Western states and in rainwater in at least two so far.

While federal officials continue to assure the public that no harmful levels have reached the United States, some Americans have not been content to take the government at its word. Geiger counters have been selling like popsicles in summer, and traffic has never been higher at websites that display data from radiation monitoring stations.

We list three such sites below.

[more...]

Related posts:

DON’T Take Potassium Iodide Unless You Are Exposed to RadiationJapan’s radiation no threat here: Canada PMScientists Project Path of Radiation PlumeLevels of Radiation Rapidly Rising In Ibaraki Prefecture Near Fukushima Nuclear Power PlantMore U.S. states find traces of radiation from JapanRadioactive fallout from Fukushima approaching same levels as Chernobyl

View the original article here

Where Are All the Looters?

It’s been three days since the initial earthquake that triggered a deadly Tsunami. Millions of Japanese are without power, and as we pointed out in our news update series on the Japanese crisis, store shelves in the afflicted areas have been wiped bare. Even hundreds of miles from the damage, Japanese residents are stocking up on food, water and emergency provisions.

Within hours of the Chilean earthquake, gangs and looters hit the streets. A similar scenario unfolded in New Orleans, in the aftermath of Hurricane Katrina. Videos of looters in stores taking everything from HDTV’s to food and diapers were readily available. In Haiti, gang violence broke out within days of the earthquake.

In any disaster, when emergency personnel are diverted to the crisis zone, chances are that violence in non-police patrolled areas is going to see a spike. This happened in Chile within hours.

After witnessing similar events in recent years in crisis hot spots around the world, the situation in Japan begs the question: Where are all the looters?

Via Lew Rockwell and The Telegraph

Perhaps even more impressive than Japan’s technological power is its social strength, with supermarkets cutting prices and vending machine owners giving out free drinks as people work together to survive. Most noticeably of all, there has been no looting, and I’m not the only one curious about this.

This is quite unusual among human cultures, and it’s unlikely it would be the case in Britain. During the 2007 floods in the West Country abandoned cars were broken into and free packs of bottled water were stolen. There was looting in Chile after the earthquake last year – so much so that troops were sent in; in New Orleans, Hurricane Katrina saw looting on a shocking scale.

Why do some cultures react to disaster by reverting to everyone for himself, but others – especially the Japanese – display altruism even in adversity?

Is it a cultural thing? Perhaps it is. At least in the initial stages of crisis.

We have yet to hear reports of looting-related activity in Japan. For the most part, the population seems to be dealing with the crisis in a non-violent manner. But there may be numerous reasons for this.

Japan is the third largest economy in the world. In terms of technological advancement and warning systems, they are top notch. They likely have a solid national emergency response plan for earthquakes and volcanoes considering their geographic location. Even with all of this, they could not prevent a massive, wide-spread national catastrophe.

Based on reports, the Japanese have already started handing out emergency iodine packets to treat immediate radiation absorption around overheating nuclear reactors. And according to the story from The Telegraph, shop owners are willingly helping residents in need of food and water.

In those areas destroyed by Tsunami, the fact is that there is nothing to loot. It’s all gone. There are no grocery stores or electronics stores. Unlike in Hurricane Katrina, the people in Northern Japan wouldn’t have anywhere to take an HDTV even if it was available to loot because they no longer have homes.

The earthquake is over. The Tsunami has passed. The nuclear crisis is now the primary concern, as it should be. While officials scramble to evacuate residents, they will inundate cities outside of the current danger zone, certainly putting a strain on supplies in areas like Tokyo.

For a time, the Japanese government will likely be able to provide help, especially with assistance from Western nations like the US.

But what if those reactors really blow – and it becomes official? What if it really goes Chernobyl on us?

The panic that will follow would likely be unprecedented in Japan – even more so than anything that followed World War II. There are millions more people, and they are all dependent on functioning electricity, gas, water, sewage, and just-in-time food delivery.

While there may be no looting now, and for the most part, the people of Japan are dealing with this crisis in a peaceful manner, we suggest that without external assistance from the US or other nations who can provide Japan with fresh water, food and medical supplies, Japan can easily take a turn for the worse and look like New Orleans or Haiti within a matter of days.

Had the problems facing Japan stopped with the Tsunami, then the threat of looting and violence would be unlikely. But Japan is still in crisis, and until the issues surrounding their nuclear reactors is resolved, we can only wait and see.

Hat tip Clark

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Census 2011: Where do you work?

As you might have heard, the first batch of 2011 census forms have today begun dropping onto the doormats of millions of homes across the UK. At Big Brother Watch, we have a clear position on the census: we believe it is both highly intrusive and a monumental waste of time and money. While the fact the public will be questioned on the type of central heating they have and the religion they practice has been widely publicised, the questions relating to an individual's workplace have received far less airtime. According to a BBW supporter in Herefordshire, the Office of...

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