Almost 800 arrested over Nigerian crypto-romance scam( MENAFN - Jordan Times) BERKELEY – The New York Times famously prepares obituaries for notable individuals well in advance of their death. Now that President Joe Biden's administration is about to expire, an elegy is in order for its economic achievements, failures, and missed opportunities. The administration's achievements are self-evident, at least to the clear-eyed analyst, if not, as it appears, to the average voter. In Biden's four years, the US outperformed virtually every other advanced Economy in terms of output, employment, and productivity growth. Despite inheriting an unemployment rate of 6.3 per cent in January 2021 and an elevated level of pandemic-related uncertainty, the administration drove unemployment down to just 4 per cent in its first 12 months, where it essentially remained throughout Biden's term. Job growth among Black workers was especially impressive. Unemployment among African-Americans fell below 6 per cent, down sharply from an average of 10 per cent in the first two decades of the twenty-first century. Admittedly, Biden's inheritance also included a pandemic-stricken economy, creating ample scope for output and employment to bounce back. But the aftermath of the global financial crisis and recession of 2007-10 showed that the mere presence of economic slack is no guarantee of a macroeconomic bounce-back and sustained recovery. Biden administration officials took this lesson to heart. By boosting demand, the massive macroeconomic stimulus applied through the American Rescue Plan, the Infrastructure Investment and Jobs Act, the Inflation Reduction Act (IRA), and the CHIPS and Science Act made all the difference. With the benefit of hindsight, it will now be popular to argue that these measures made too much of a difference. They delivered a burst of inflation, which was a major factor in the electoral defeat of Biden's anointed successor, Vice President Kamala Harris. Although the Fed succeeded in bringing this post-pandemic inflation under control relatively quickly, the rise in prices at the pump and the supermarket created angst among consumers and provided an effective talking point for Donald Trump. If pandemic-era deficit spending had been curtailed more quickly, inflation would have been lower, but the recovery of output and employment would have been slower. It is not clear on balance that sentiment among consumers and workers would have improved or that the Democrats' electoral prospects would have been any better. Another cost of the Biden stimulus was the increase in federal government debt. But it is important not to exaggerate the severity of the problem. Debt in the hands of the public as a share of GDP rose from 94 per cent in 2021 to 100 per cent of GDP in 2024. Some will view this increase as modest, others will be alarmed. Either way, it does not signal an imminent debt crisis. Conventional economic models suggest that a debt increase of this magnitude will raise the real (inflation-adjusted) interest rate by at most a quarter of a percentage point, hardly Armageddon for debt-servicing costs. It is, of course, regrettable that neither the Democrats nor the Republicans have an appetite for meeting the problem of chronic deficits head-on. And Trump's promise of massive tax cuts implies even larger deficits and higher debt. But the United States still has some years to run before this problem becomes acute. US Treasury securities are still regarded as safe assets. There may come a point in the not-too-distant future when securities currently regarded as safe are re-rated as unsafe. But financial markets are not going to force the issue in 2025. Then there are Biden's industrial policies. The US Department of Commerce is on track to allocate $53 billion by the end of 2024 to proposed CHIPS private-sector investments spanning 23 projects. Taking advantage of other incentives, companies have committed to nearly $400 billion in new US semiconductor investments. The outgoing administration anticipates 115,000 new construction and manufacturing jobs as a result of these investments. Yet whether troubled companies like Intel can compete with powerhouses like the Taiwan Semiconductor Manufacturing Company (TSMC) and Samsung, even with help of these subsidies, is unclear. Foreign semiconductor firms seeking to set up in the US complain about high construction costs and inadequately trained and poorly disciplined workers. Moreover, the federal bureaucracy has a very mixed record of picking winners. Can you say“Solyndra,” the failed solar-panel company supported by Barack Obama's administration? (In fairness, the Obama administration also backed Elon Musk's Tesla early on, though Tesla's market share in the US declining.) In fact, boosting productivity and creating good jobs were not the fundamental motives for the CHIPS Act. The central motive was geopolitical: to reduce US dependence on China, and on Taiwan, over which China looms, for high-tech inputs, and more generally to ensure that the US is self-sufficient in the development and manufacture of essential high-tech products. If the CHIPS Act's subsidies do not produce the desired result, then more subsidies will follow. The ultimate objective is not higher productivity and employment, but rather national security, even if achieving it comes at a significant economic cost. On the environment, Biden's record is mixed. He has used executive orders and regulations to protect parkland, strengthen the enforcement of environmental laws, and assist communities suffering from pollution and related harms. Unable to get Congress to agree on the Green New Deal, his administration turned to consumer tax credits for electric vehicles (EVs) and energy-efficient appliances. The IRA also provides funding for investments in clean-energy technologies. But this spending is spread over ten years, and its magnitude pales in comparison with both the clean-energy investments by European governments and the scale of the global problem. Moreover, the consumer subsidies of the IRA are discriminatory. They are not extended to imported EVs and heat pumps. This brings us to the administration's record on trade and protection. Biden did not retain the worst of Trump's tariffs, but he maintained the tariffs on imports from China, and in 2024 his administration announced tariff hikes on an additional $18 billion of Chinese goods, including EVs, solar cells, batteries, steel, aluminum, and face masks. More than promoting national self-sufficiency, these measures sought to advance the specific objective of decoupling from China, reflecting the administration's view of the People's Republic as an economic and geopolitical rival. Meanwhile, Biden did nothing to advance reform of the World Trade Organisation. He continued to obstruct the appointment of judges to the WTO's Appellate Body, no doubt because those judges would have had the IRA's discriminatory subsidies squarely in their sights. For those who believe that globalisation needs all the help it can get, this record was disappointing. It was not the worst record on trade of any recent administration, but neither was it the best. A final economic policy issue is immigration, where Biden swung from liberal to restrictive, in line with the prevailing political mood. His policies ended up pleasing neither advocates nor opponents of immigration. Biden clamped down on illegal border crossings while opening legal pathways for immigrants from distressed countries like Haiti and Ukraine. But the legal status of many immigrants remains uncertain, limiting their incentive to invest in education and take other steps to contribute to the economy. One can dispute who is responsible for this failure to reform the immigration system: an administration that swung from one position to the other, or a Republican Congress that saw chaos at the border as working to its political advantage. (Personally, I opt for the latter.) But there is no disputing that the result was a signal failure. Such is Biden's economic legacy. His political legacy can be summarised more briefly: he leaves behind a hot mess. Had he withdrawn from the presidential race earlier, there might have been a good chance that his successor would maintain many of his economic-policy initiatives. Now we will see how many of those policies, if any at all, survive four years of Trump and J.D. Vance. Barry Eichengreen, Professor of Economics and Political Science at the University of California, Berkeley, is a former senior policy adviser at the International Monetary Fund. He is the author of many books, including In Defence of Public Debt (Oxford University Press, 2021). Copyright: Project Syndicate, 2024. MENAFN16122024000028011005ID1109000193 Legal Disclaimer: MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Overall, the series of investment promotion conferences organized by AliExpress in Zhejiang, Guangdong, Jiangsu, and other provinces have successfully showcased the platform as a leading destination for cross-border e-commerce. By bringing together industry stakeholders, experts, and investors, these conferences have fueled excitement and enthusiasm for leveraging the power of digital commerce to drive business success and growth.Abstract Security Joins Forces with Analytica42 to Supercharge Integration Delivery including integration to Google SecOps Platform
Brad Treliving's Biggest Home Run is Paying Significant Dividends for the Toronto Maple Leafs
"Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum." Section 1.10.32 of "de Finibus Bonorum et Malorum", written by Cicero in 45 BC "Sed ut perspiciatis unde omnis iste natus error sit voluptatem accusantium doloremque laudantium, totam rem aperiam, eaque ipsa quae ab illo inventore veritatis et quasi architecto beatae vitae dicta sunt explicabo. Nemo enim ipsam voluptatem quia voluptas sit aspernatur aut odit aut fugit, sed quia consequuntur magni dolores eos qui ratione voluptatem sequi nesciunt. Neque porro quisquam est, qui dolorem ipsum quia dolor sit amet, consectetur, adipisci velit, sed quia non numquam eius modi tempora incidunt ut labore et dolore magnam aliquam quaerat voluptatem. Ut enim ad minima veniam, quis nostrum exercitationem ullam corporis suscipit laboriosam, nisi ut aliquid ex ea commodi consequatur? Quis autem vel eum iure reprehenderit qui in ea voluptate velit esse quam nihil molestiae consequatur, vel illum qui dolorem eum fugiat quo voluptas nulla pariatur?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" 1914 translation by H. Rackham "But I must explain to you how all this mistaken idea of denouncing pleasure and praising pain was born and I will give you a complete account of the system, and expound the actual teachings of the great explorer of the truth, the master-builder of human happiness. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because those who do not know how to pursue pleasure rationally encounter consequences that are extremely painful. Nor again is there anyone who loves or pursues or desires to obtain pain of itself, because it is pain, but because occasionally circumstances occur in which toil and pain can procure him some great pleasure. To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage from it? But who has any right to find fault with a man who chooses to enjoy a pleasure that has no annoying consequences, or one who avoids a pain that produces no resultant pleasure?" To keep reading, please log in to your account, create a free account, or simply fill out the form below.
In memory of the father's brother and the tragic event that unfolded, a talented sculptor was commissioned to create a lasting tribute that would capture the essence of that fateful moment. The result was the striking sculpture that now stands in the town square, a solemn reminder of the fleeting nature of life and the unexpected twists of fate that can alter our existence in an instant.Media Monitoring Tools Market worth $13.7 Billion Globally by 2031, Growing at a 15.1% CAGR, According to AMR
LIZ Kendall today promises to cut the number of Brits on benefits - as she warns the jobless epidemic is “terrible” for the country. People stuck on welfare are poorer, sicker and less happy, the Work and Pensions Secretary said. She staked her reputation on slashing the welfare bill and getting people back to work. Speaking to The Sun on Sunday at a job centre in Stratford, East London, Ms Kendall said: “I’ve never been swayed from my belief in the value of work. “I believe that the benefits of work go way beyond a pay slip; that work can bring pride, self respect and dignity. “Work is good for your mental health . And as a woman, I believe work can bring you independence and equality.” READ MORE IN POLITICS 'In politics to succeed' Asked if she is staking her reputation on cutting the number of people languishing on welfare, Ms Kendall said: “Yes. “I’m not in politics to fail. I am in politics to succeed. “And this will be one of the biggest reforms this government does.” Ms Kendall will this week unveil plans for a radical shake-up of Britain’s broken benefits system to get people into work. Most read in Politics At the heart of it is a tough new ultimatum to get young adults off welfare and in jobs. She will promise every Brit aged 21 and under work or training. Those who refuse will have their benefits withdrawn. Plans to cut £3 billion a year from welfare by reassessing people on long term sick and disability benefits more often will also be set out. Ministers are increasingly worried that the UK is once again turning into the sick man of Europe. Britain spent a staggering £150 billion on non pensioner benefits last year - and the number is predicted to carry on ballooning. Four million people will be claiming long-term sickness benefits by 2030, according to forecasts. This is 60 per cent higher than pre Covid levels. Shocking stats show nearly one million adults aged 24 and under are not in education , employment or training - known as NEETs. Hitting out at the welfare epidemic blighting Britain’s youth, Ms Kendall said: “That is terrible for them. It can have a long term effect on your job prospects, your ability to earn, and your health, because we know the longer you’re out of work that can be bad for your health too, which increases costs on the taxpayer “It’s terrible for businesses , many of whom are desperate to recruit, and it’s terrible for taxpayers seeing an ever higher benefits bill. “And I am determined to bring that down through more and better opportunities for young people to work, to get training and to get skills. “And in return for that, young people will have to take up those offers. “If you’re out of work when you’re young... the consequences can be lifelong. “It can have a long term effect on your job prospects, your ability to earn, and your health, because we know the longer you’re out of work that can be bad for your health too, which increases costs on the taxpayer. “So my commitment to young people is this: I value you. I believe in you. I will offer you the chances and choices you deserve. Social media impact “But in return for that, you have a responsibility to take them up.” She added: “I’ve always believed, if you can work, you must.” Ms Kendall is “extremely concerned” about the growing number of young adults in their 20s off work because of mental health problems. And she is “worried about the impact of social media on young people”. Her concerns were echoed by the staff at the busy job centre Liz is visiting in East London. They are seeing more and more young adults off work with things like depression and anxiety . The current system of sickness and disability benefits “isn’t working at the moment”, Ms Kendall said. “It’s not working for the people who rely on them, and we are seeing the costs rise”, she warned. Plans to carry out more checks on people on sickness benefits are expected to be set out in the New Year. Brits will also be given more mental health support in schools and via job centres to keep them in training or work. The UK has no choice but to get people back to work - the mission to kickstart economic growth depends on it, Ms Kendall said. “We are the HR department of the growth mission”, she said. But Ms Kendall has come under fire for other welfare cuts announced. This is not a decision that any of us wanted or expected to make Earlier this week, she admitted cuts to winter fuel allowance could force another 100,000 pensioners in England and Wales into poverty . The decision to strip the £300 payments from around 10 million pensioners is hugely unpopular. Britain stagnating It will only save the government about £1.4 billion. So, is the cut worth it? “This is not a decision that any of us wanted or expected to make”, Ms Kendall said. “The need to get the public finances sorted, though, is not something we’re going to duck. “I understand how concerned people have been about it, but when money is tight, we took the decision to focus on pensioners in the greatest need.” Britain’s economy is stagnating and business confidence is plummeting. The Labour government says getting people into work and growth going again is their number one mission. READ MORE SUN STORIES They will be judged on the results. Ms Kendall may have the fate of her party in her hands.
Two-Wheeler Tires Market Size Set to Hit USD 21.8 Billion by 2034, Driven by 8.0% CAGR - Latest Report by TMRSouth Korea lifts president's martial law decree after lawmakers reject military ruleVANCOUVER. British Columbia, Dec. 16, 2024 (GLOBE NEWSWIRE) -- Through the Province's Integrated Marketplace program delivered by Innovate BC, Prince Rupert-based Gitxaala Environmental Services (GES) has been awarded $448,355 in funding to support a multi-phase project aimed at enhancing environmental monitoring processes in port and terminal settings to improve operational efficiency and reduce environmental impact. GES, a wholly owned entity of the Gitxaala Nation, is working with Nanaimo-based Shift Coastal Technologies to utilize their new Port Environmental Monitoring Platform (PEMP) for critical data collection. Through this collaboration, and with support from the Canadian Coast Guard, GES will be leveraging the PEMP as part of operations at the Port of Prince Rupert, which serves as a Testbed for the Integrated Marketplace. "There is a strong ecosystem of talented companies creating new and innovative technology that will drive B.C. towards sustainable economic growth,” said Diana Gibson, Minister of Jobs, Economic Development and Innovation. "One example is Gitxaala Environmental Services who, working with Innovate BC through B.C.'s Integrated Marketplace program, will scale up their technology solutions and strengthen B.C.'s economy in a way that contributes to meaningful economic reconciliation.” Created to help drive innovation in the province, the Integrated Marketplace supports projects that connect strategic partners operating at Testbeds like the Port of Prince Rupert, to B.C.-based solution providers to implement, scale, and export B.C. technology solutions. This framework allows B.C. industries to receive assistance and reduce the risks in adopting innovation and new technologies, boosting their productivity and competitiveness, while connecting these solution providers with valuable Canadian reference customers that support their growth. "Through the Integrated Marketplace, we are creating an avenue for local solution providers such as Gitxaala Environmental Services to contribute to the development of high-growth industries and at the same time address critical priorities here in B.C. and at a global level,” said Peter Cowan, President + CEO of Innovate BC. "From reducing carbon emissions in key provincial sectors, to bolstering the productivity of major industries, and in this instance, supporting indigenous economic development in B.C. and generating new job opportunities in the region's ocean-based sector, the impact is broad-based, creating prosperity for our industries, businesses, and communities.” The project will test the PEMP in three distinct subject areas, with each phase leveraging different hardware, including sensors mounted on autonomous surface vessels (ASVs) and drones. This will enable the PEMP to collect real-time, diverse data types including habitat characterization, noise, emissions, seabed disturbance, and water quality, among other ecological factors. Using Shift's software, the data can be viewed in real-time on a marine domain awareness platform used to inform maritime decision-making for port and terminal clients, in a safer, more cost-effective, and accurate way, with less environmental impact. Using a combination of the PEMP's shore-based and drone optical and thermal imaging cameras, along with drones equipped with water sampling devices, GES aims to improve the observation of marine mammals and water quality monitoring to enhance understanding of local marine behaviour and environmental conditions. This will support refined maritime project planning and environmental protection. Employing ASVs equipped with hydroacoustic sensors, GES seeks to utilize the PEMP to enhance the observation of marine mammals and underwater noise levels to establish exclusion zones and protect marine habitats. This will support compliance with environmental regulations and enable better management of acoustic impacts on marine life. Utilizing the PEMP's ASV's fitted with photogrammetric cameras to capture high-resolution images of artificial reefs and underwater structures, GES will build 3D models to analyze structure and habitat changes over time, gathering detailed insights into species composition, habitat changes, and infrastructure health. This will support ongoing environmental monitoring and help guide management strategies for underwater ecosystems. This announcement is part of the Government of B.C.'s investment of $11.5 million, and the Government of Canada's investment, through PacifiCan, of $9.9 million in the Integrated Marketplace. To view and download digital assets relating to this announcement, please click here . Additional Quotes The Honourable Harjit S. Sajjan, Minister of Emergency Preparedness and Minister responsible for the Pacific Economic Development Agency of Canada "PacifiCan knows B.C. entrepreneurs are creating the innovations to address industry needs, reduce environmental impacts, and grow prosperity here at home. Gitxaala Environmental Services' deployment of Shift Coastal Technologies' platform for environmental data collection will boost productivity, support Indigenous economic development and create good jobs. This project shows how the Integrated Marketplace is helping local businesses test their innovations here in B.C. before taking on the world.” Trevor McConkey, General Manager, Gitxaala Environmental Services "This collaboration, supported by Innovate BC through the Integrated Marketplace initiative, is key to building resilient and local expertise in marine and environmental sciences on the North Coast of British Columbia. The opportunity to evaluate emerging technologies which can enable improved safety, efficiency, and data quality is highly aligned with our organizational objectives, and those of our clients.” James Spencer, CEO, Shift Coastal Technologies "This collaboration, made possible through Innovate BC's Integrated Marketplace program, exemplifies how advanced marine technologies, paired with a local First Nation-owned business, can create scalable, impactful solutions for sustainability. We are proud to partner with Gitxaala Environmental Services to develop tools that empower Indigenous communities and redefine environmental monitoring." Media Contact Michael Gleboff Communications + Community Manager [email protected] 604 - 602-5210 About Innovate BC A Crown Agency of British Columbia, Innovate BC works to foster innovation across the province and bolster the growth of the local economy through delivering a wide range of programs that help companies start and scale, access talent and encourage technology development, commercialization, and adoption. Innovate BC also harnesses crucial data collection and research, and works to forge strategic industry and community partnerships that create more opportunities for B.C. innovators.
Monday’s episode of ESPN’s “ First Take ” was anything but ordinary, as Stephen A. Smith and Hall of Fame tight end Shannon Sharpe engaged in a fiery debate over whether Bill Belichick would be a good fit as the Dallas Cowboys head coach. The exchange was intense, with both personalities passionately arguing their points, leaving co-panelist Tedy Bruschi, a three-time Super Bowl champion with the Patriots, mostly silent as he watched the heated back-and-forth unfold. Sharpe took a strong stance against Belichick joining the Cowboys, pointing to Jerry Jones’ dominant presence as team owner. Drawing from his Hall of Fame career, Sharpe argued that Dallas needs a single, clear voice in the locker room, which he doesn’t believe would happen with both Belichick and Jones involved. Sharpe contended that Jones has historically hired coaches he can overshadow to stay in the spotlight and that Belichick’s stature would clash with Jones’ leadership style. Shannon Sharpe vs. Stephen A. Smith starting to sound like Shannon Sharpe vs. Skip Bayless pic.twitter.com/SLqUBbstD4 “You made your point! You’re trying to run out the clock,” Sharpe said to Smith as the conversation intensified, trying to get his words in before the topic changed. Smith quickly shot back, “No, I’m not,” adding, “Usually it’s you who do that.” The debate grew even more contentious when Smith questioned the Cowboys’ championship pedigree under Jones’ leadership, which seemed to frustrate Sharpe. “Your argument goes right out the window when you mention championship with the Dallas Cowboys,” Smith said. Mark J. Rebilas-Imagn Images Sharpe, clearly irked, responded, “OK, now you know more football than me.” Smith immediately attempted to diffuse the moment, saying, “C’mon, Shannon, I never said I know more football than you.” The heated exchange highlighted the strong personalities that make “First Take” must-watch television. Fans quickly took to social media, making the debate trend on platforms like X. Despite the tension, the segment showcased why both Smith and Sharpe remain among the most compelling voices in sports media today. Related: Stephen A. Smith Didn't Hesitate When Naming The Best Team In the NFLPrince Harry jokes about getting a tattoo on his a** in hilarious video with singer Jelly Roll
Friendly reminder |
The authenticity of this information has not been verified by this website and is for your reference only. Please do not reprint without permission. If authorized by this website, it should be used within the scope of authorization and marked with "Source: this website". |
Special attention |
Some articles on this website are reprinted from other media. The purpose of reprinting is to convey more industry information, which does not mean that this website agrees with their views and is responsible for their authenticity. Those who make comments on this website forum are responsible for their own content. This website has the right to reprint or quote on the website. The comments on the forum do not represent the views of this website. If you need to use the information provided by this website, please contact the original author. The copyright belongs to the original author. If you need to contact this website regarding copyright, please do so within 15 days. |