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    Since the onset of the pandemic, there has been a sense of unpredictability where the economy is concerned. However, the November 2021 jobs report only adds more fuel to the fire. According to CNN, this month's report "simultaneously shows signs of strength and cause for concern." How does that work? In short, three conflicting issues appear to be evident: the economy is finally rebounding from the impact of the COVID-19 pandemic, staggering as a result of the damning effect of inflation, and a disheartening inflection point for employment. With each issue, the element of surprise and unpredictability remains evident from month to month. On Friday, it was reported that the United States economy added 210,000 in November bringing the country's unemployment rate down to 4.2%. Normally this would signal that the economy is one step closer to full employment but that isn't the case here. In fact, many of the opinions on the latest job report have been negative, CNN reports. CNN's Anneken Tappe also weighed in on the report writing, "Economists had expected more than double...
    LOS ANGELES (CBSLA) — The historic Olvera street, where businesses have been passed down from generation to generation, used to be a thriving business district. “My father started in 1930 when the street first opened,” Valerie Hanley, treasurer of the Olvera Street Merchants Association. “He was a shoeshine boy.” READ MORE: 11-Year-Old Stabbed In Head In Mar Vista, Victim Is StableHowever, after narrowly surviving the pandemic, businesses at Olvera Street are concerned the homeless crisis will complicate their recovery. “You have that piece of the population that needs help that they’re not getting,” said Hanley. “And they can act out in front of the visitors and the kids and it’s very difficult when that happens because people become afraid of that.” Phuc Le is one of the homeless men struggling to get their lives back on track.  “My life just fell apart,” said Le. “Slowly but surely.” According to Le, said he spent time in prison and has lived on the streets since 2015. READ MORE: New COVID Testing Site At LAX Opened Due To Omicron Variant Concern“I got heart...
    BEIJING (AP) — A Chinese developer that is struggling under $310 billion in debt warned Friday that it may run out of money to “perform its financial obligations,” prompting regulators to scramble to assure investors that China’s financial markets can be protected from a potential impact. Evergrande Group’s struggle to comply with official pressure to reduce debt has fueled anxiety that a possible default might trigger a financial crisis. Economists say global markets are unlikely to be affected but banks and bondholders might suffer losses because Beijing wants to avoid a bailout. After reviewing Evergrande’s finances with outside advisers, “there is no guarantee that the Group will have sufficient funds to continue to perform its financial obligations,” the company said in a statement released through the Hong Kong Stock Exchange. Shortly after that, regulators tried to soothe investor fears by issuing statements saying China’s financial system was strong and that default rates are low. They said most developers are financially healthy and Beijing will keep lending markets functioning. “The spillover impact of the group’s risk events on the stable operation...
    Federal Reserve Chairman Jerome Powell testifies during the House Financial Services Committee hearing titled Oversight of the Treasury Department's and Federal Reserve's Pandemic Response, in Rayburn Building on Wednesday, December 1, 2021.Tom Williams | CQ-Roll Call, Inc. | Getty Images The first rule of medicine is to "do no harm." I would suggest that rule also applies to central banking. Jerome Powell, chair of the Federal Reserve and the nation's top medicine man for the economy, has suggested the Fed could wind down its bond-buying program, a pivot that many believe will lead to a quicker move to raise rates in mid-2022. The diagnosis, pushed by the Fed's resident physicians, is that inflation is an economic illness that needs to be cured before all other conditions are fully addressed. True, the economy is a great deal stronger than it was in 2020, but it is hardly ready to be given a clean bill of health given the emergence of a new Covid variant; persistent shortages of computer chips, cars, appliances and other consumer goods; labor market disruptions and...
    But it may not be all bad news Though even as hiring slowed, the report showed that unemployment dropped to a post-pandemic low of 4.2% in November, narrowly besting predictions of 4.5%. This latter news came from the household data survey, one of two surveys used to compile data. The other survey records hiring among employers. "As is the case from time to time, the two surveys painted somewhat different pictures of the economy," the New York Times explained, noting that the household survey showed the "number of employed Americans jumped by more than 1.1 million." "And the overall participation rate, which measures the proportion of Americans who either have jobs or are looking for one, rose by 0.2 percentage point to 61.8 percent," the Times added. Nick Bunker, economic research director at Indeed, told CNBC, "This report is a tale of two surveys. The household survey shows accelerating employment gains, workers returning to the labor force, and low levels of involuntary part-time work. The payroll survey shows a significant deceleration in job growth, particularly in COVID-affected sectors.”Anything else?The startling...
    The pro-China business group which counts two key Biden administration picks as strategic advisers likened the Justice Department’s crackdown on Chinese economic espionage to “McCarthyism” in a shocking panel discussion last month. Reta Jo Lewis, Biden’s nominee to run the Export-Import Bank, and Mitch Landrieu, the new infrastructure czar , are both listed as "strategic advisers" for the U.S. Heartland China Association, which regularly works with Chinese organizations tied to the CCP’s United Front — which Xi Jinping has described as a “magic weapon.” Last month, the USHCA released a video of a panel discussion titled “Return of McCarthyism” on YouTube. The video blasted the Department of Justice's China Initiative, which is aimed at stopping China from stealing intellectual property and economic secrets from U.S. academic institutions, describing it as reminiscent of onetime Republican Sen. Joe McCarthy, who crusaded against communist influence in the United States. “History never repeats itself, but it rhymes. At this time of political divide in America and tension between the U.S. and China, many symbols of the Cold War era are coming...
              more   Live from Music Row Monday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – host Leahy welcomed Knox County Mayor Glenn Jacobs to the newsmaker line to discuss Knox County’s coronavirus recovery and his main priorities going into the 2022 election. Leahy: We are joined on our newsmaker line by our good friend Knox County Mayor Glenn Jacobs. Good morning, Mayor Jacobs. Jacobs: Good morning, Michael. How are you? Leahy: We’re great. So the coronavirus thing keeps going, and there are more and more regulations. We saw a story up there about Oak Ridge National Labs. There were a couple of folks there that were put on paid leave because they wouldn’t take the coronavirus vaccine. I’ve seen some reports now that the president has put his breaks on that program. Have you seen any of that going on of late? Jacobs: I haven’t actually seen what’s happened to federal contractors. I believe that Attorney General Slatery has filed a lawsuit...
    Treasury Secretary Janet YellenJanet Louise YellenSchumer: 'Goal' is to pass Biden spending bill before Christmas The Hill's Morning Report - Presented by Facebook - Biden to update Americans on omicron; Congress back No deal in sight as Congress nears debt limit deadline MORE on Monday warned senators that failing to reach a deal on raising the debt limit could "eviscerate" the U.S. economy recovery. Yellen gave this message while addressing the Senate Committee on Banking, Housing, and Urban Affairs. She has issued similar notices in the time since the Senate reached a short-term debt hike to last until Dec. 15. Speaking to the committee, Yellen noted November job numbers that showed around 531,000 were added in the past month and stated, "Our economic recovery is on track." "At this point, I am confident that our recovery remains strong and is even quite remarkable when put it in context. We should not forget that last winter, there was a risk that our economy was going to slip into a prolonged recession, and there is an alternate reality where, right now, millions more people cannot find...
    The Chinese government credited recent energy “policy measures,” including increased coal production, for the increased manufacturing activity boosting its economy. “In November, power shortages eased and prices of some raw materials dropped significantly,” said Zhao Qinghe, a senior statistician at China’s National Bureau of Statistics (NBS), according to CNN. A manufacturing index that measures factory production increased to 50.1, marking the first time it surpassed 50 in three months and its first increase since March, NBS data showed, CNN reported. The increase suggests that China has overcome the power crunch caused by low energy supply and extreme weather. The Asian superpower’s government turned to coal production in October, ordering mines to churn out as much as possible. As a result, China set a record for coal production in November, according to CNN. (RELATED: John Kerry Brushes Off Question About Slave Labor In China, Says ‘That’s Not My Lane’) A barge unloads coal at a power station in Yangzhou, in China’s eastern Jiangsu province on Nov. 23. (STR/AFP via Getty Images) China’s “strong interventions” stifled the nation’s power shortage and eased...
    [The stream is slated to start at 10 a.m. ET. Please refresh the page if you do not see a player above at that time.] Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen testify Tuesday before the Senate Banking Committee in required updates regarding Covid-19's impact on the economy and the respective policy measures taken to combat the pandemic. In prepared remarks for the hearing, Powell cautioned that the virus, and its most recent omicron variant, could have consequences for growth and inflation. "The recent rise in COVID-19 cases and the emergence of the Omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation," the central bank leader said. "Greater concerns about the virus could reduce people's willingness to work in person, which would slow progress in the labor market and intensify supply-chain disruptions." In her remarks, Yellen expressed confidence in the economy and urged Congress to raise the debt ceiling and support the Biden administration's Build Back Better agenda. "Of course, the progress of our economic recovery can't be separated from our...
    A senior government official in France has accused the United Kingdom of operating an economic model in which illegal migrants are entered into a form of “modern slavery”. The Europe Minister for France, Clément Beaune said on Monday accused Britain of being less stringent in the face of the exploitation of workers, enabling human traffickers to take advantage of the economic desires of illegal migrants to reach the UK. “There is — let’s say it — an economic model of, sometimes, quasi-modern slavery or at least of illegal work that is very strong,” Beaune told the FranceInter radio station in comments translated by POLITICO. “We’re asking the British to change their framework,” he continued, claiming that the exploitation of illegal migrants “is more prevalent in the U.K. [than in France] because there are fewer checks.” “If the British are not going back to a certain number of checks, on more humane, more compliant labour market regulation, this attraction will remain,” Beaune added. Other figures in the French government have made similar accusations, including  Interior Minister Gérald Darmanin, who said on Monday that...
    WARSAW, Poland (AP) — Poland said Tuesday that consumer prices have risen 7.7% over the past year, evidence that inflation is accelerating even faster than had been expected in the largest central European economy in the European Union. The November number is the highest inflation rate in 20 years and marks a larger jump than what economists had predicted. Last month, it hit 6.8% annually, according to the statistics office. It comes as the annual inflation rate across the 19 countries that use the euro currency hit 4.9% in November, the highest since recordkeeping began in 1997, the European Union’s statistics agency said Tuesday. Eurozone consumer prices are being driven up by a huge spike in energy costs, much like Poland’s increases are fueled by gasoline prices. They have skyrocketed 36.6% since last year, exacerbated by a weakening of the country’s currency, the zloty. The weaker zloty means that imports — including oil, which is priced in U.S. dollars — become more expensive for Polish consumers. The cost of heating jumped 13.4%, while food and non-alcoholic beverage prices rose 6.4%....
    TOKYO (AP) — Asian shares mostly slipped Tuesday as investors cautiously weighed how much damage the new omicron coronavirus variant may unleash on the global economy. South Korea’s Kospi led regional losses with a 2.4% drop, to 2,839.01. Japan’s benchmark Nikkei 225 lost earlier gains and dropped 1.6% to 27,821.76, as pessimism over the omicron variant set in. Australia’s S&P/ASX 200 gained 0.2% to 7,256.00. Hong Kong’s Hang Seng dipped 1.7% to 23, 439.91, while the Shanghai Composite was nearly flat at 3,563.89. The yield on the 10-year Treasury slipped back to 1.46% from 1.51% late Monday. It tends to rise and fall with expectations for the U.S. economy’s strength and for inflation. Some analysts think a serious economic downturn, like what happened last year, likely will be averted because many people have been vaccinated. But they also think a return to pre-pandemic levels of economic activity, especially in tourism, has been dramatically delayed. “Sentiments may ride on the positive handover from Wall Street overnight, but with the slower vaccination rate and more limited healthcare...
    LOS ANGELES (KABC) -- Looking for employment in Southern California? Here's a list of companies currently hiring:CARE TAKERS AND COUNSELORSEasterseals Southern California offers indispensable resources to individuals and families living with a disability and currently has more than 200 job openings across Southern California.For more information, please visit: https://careers-essc.icims.com/. 9/21/21The Village Family Services is a leader in providing trauma-informed, culturally sensitive services to children, homeless youth and families so that they can lead safe, healthy and productive lives around Los Angeles County. We are currently hiring for various positions such as Foster Care Social Workers, Adult LVN, Peer Support Specialists, Administrative Assistant and DIC Case Managers. For more information, please visit: https://www.thevillagefs.org/about-our-village/careers/. 7/21/2124 Hour Home Care is looking for Caretakers. Duties include: Personal care, meal preparation, companionship, medication reminders & light housekeeping; Follow client care plan and provide updates as needed. Requirements: 2 caregiving references; Proof of negative TB test (will pay if need test); ID compliant with I-9 requirements; Registered Home Care Aide (HCA) - will pay if not registered (exclusions apply). Benefits: Competitive pay, paid orientation, trainings, and...
    CNBC's Jim Cramer on Monday laid out his investment playbook for two economic scenarios that could materialize as a result of the Covid omicron variant. The heavily mutated variant has spooked some investors, particularly during Friday's holiday-shortened session in which the Dow Jones Industrial Average recorded its worst day since October 2020. However, U.S. stocks finished higher Monday, as President Joe Biden indicated broad economic lockdowns currently aren't needed. Cramer agreed with Biden, saying strict restrictions akin to earlier stages of the pandemic are very unlikely. However, the "Mad Money" host said the Covid omicron variant may have an effect on the economy and investors need to prepare accordingly.SlowdownIf the spread of the variant gets to a point that ultimately causes an economic slowdown, Cramer said his top stock pick is Amazon. "This is a company that does well when people are scared to go to the mall. And it does well as more companies embrace the cloud because Amazon Web Services is indeed the dominant player in cloud infrastructure," he said, contending the cloud transition will continue even if...
    Federal Reserve Chairman Jerome Powell will testify that the omicron variant of COVID-19 could end up harming the economy and worsening inflation. Powell, who was just recently renominated by President Joe Biden to remain at the helm of the central bank, will testify alongside Secretary of the Treasury Janet Yellen on Tuesday before the Senate Banking Committee, where he will be asked questions about the new omicron variant in addition to other queries. “The recent rise in COVID-19 cases and the emergence of the omicron variant pose downside risks to employment and economic activity and increased uncertainty for inflation,” Powell said in prepared remarks for Tuesday’s testimony. “Greater concerns about the virus could reduce people’s willingness to work in person, which would slow progress in the labor market and intensify supply chain disruptions.” The newest COVID-19 variant has the potential to worsen the country’s inflation and supply chain problems, although it all depends on how much worse omicron turns out to be than other strains. BIDEN VOWS TO FIGHT OMICRON SURGE WITH MASKS AND SHOTS, NOT...
    What else? Dalio, the founder of the world's largest hedge fund, reportedly drew the inferences from his newly-developed "health index," which is featured in his new book. The system "rates around a dozen nations on 18 different factors ranging from debt burdens and economic output to military strength and innovation." Though the 18 factors provided a more complete picture, Dalio appears to focus in on the three elements mentioned above when making the dire prediction. Forbes said Dalio also highlighted the U.S.'s "increased conflict and polarization due to widening wealth gaps."Anything else?The news comes as the U.S. continues to experience the effects of soaring inflation under the Biden administration. In October, the Bureau of Labor Statistics reported that the year-over-year rise in the consumer price index had reached its highest level in over 30 years. In the meantime, the country battles a supply chain crisis and labor shortages. The economic downturn is one reason a majority of Americans believe the U.S. is heading in the wrong direction. All the while, China appears to be gaining on the U.S. in...
    WASHINGTON (AP) — Federal Reserve Chair Jerome Powell says that the appearance of a new COVID-19 variant could slow the economy and hiring, while also raising uncertainty about inflation. The recent increase in coronavirus cases and the emergence of the omicron variant “pose downside risks to employment and economic activity and increased uncertainty for inflation,” Powell says in prepared remarks to be delivered to the Senate Banking Committee on Tuesday. The new variant could also worsen supply chain disruptions, he added. In the past two weeks, other Fed officials have said the central bank should consider winding down its ultra-low interest rate policies more quickly than it currently plans. They cite concerns about inflation that has jumped to three-decade highs. Yet Powell’s remarks suggest that the additional uncertainty raised by the omicron variant may complicate the Fed’s next steps. Copyright © 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, written or redistributed.
    From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide.  Rising inflation is leading to price increases for food, gas and other products and pushing many people to choose between digging deeper into their pockets or tightening their belts. In developing economies, it's especially dire.  "We've noticed that we're consuming less," Gabor Pardi, a shopper at an open-air food market in Hungary’s capital, Budapest, said after buying a sack of fresh vegetables recently. "We try to shop for the cheapest and most economical things, even if they don't look as good."  NEW YORK TIMES COLUMNIST SAYS HE HAS ‘HIGH TOLERANCE’ FOR INFLATION IN ‘WHITE-HOT ECONOMY’  Vendor Judit Sos sells eggs in a food market in Budapest, Hungary, on Nov. 20, 2021.  (AP Photo/Laszlo Balogh) Nearly two years into the COVID-19 pandemic, the economic impact of the crisis is still being felt even after countries raced out of debilitating lockdowns and consumer demand rebounded. Now, another surge...
    Beirut, LebanonDemonstrators, some of them burning tires, blocked roads across parts of Lebanon on Monday in protest at the country's economic meltdown, days after the Lebanese pound sank to new lows.Lebanon's economic crisis, which erupted in 2019, has propelled more than three quarters of the population into poverty and the local currency has plummeted by over 90%.The Lebanese pound sank to more than 25,000 against the dollar last week, from a peg in 2019 of 1,500.Roads were blocked by burning tires in central Beirut, Tripoli in northern Lebanon and the southern city of Sidon. Lebanese protesters clap as they chant slogans during a protest in the capital Beirut on November 29, 2021, as the country struggles with a deep economic crisis. There has been little progress since Prime Minister Najib Mikati's government was appointed in September after more than a year of political deadlock that compounded the crisis.Read MoreMikati's government has been in paralysis since a row over the lead investigator into a fatal explosion at Beirut port last year flared during a cabinet meeting on October 12. The cabinet...
    BEIRUT (AP) — Lebanon’s president arrived in Qatar Monday for the opening ceremony of an Arab soccer tournament amid – and for talks on an precedented diplomatic crisis between Beirut and oil-rich Gulf nations. President Michel Aoun’s face-to-face meetings with the emir of Qatar and other Qatari officials come as Lebanon is sinks deeper into its economic crisis, the worst in its modern history. The country’s financial meltdown, coupled with multiple other crises, has plunged more than three quarters of the nation’s population of six million, including a million Syrian refugees, into poverty. Aoun is expected to discuss the tense relations between Lebanon and gulf nations led by Saudi Arabia during his meetings in Doha. Aoun has repeatedly said that Lebanon wants excellent relations with Saudi Arabia, which lists Hezbollah as a terrorist organization. Aoun is a political ally of the Shiite militant group. Saudi Arabia, a traditional backer of Lebanon, withdrew its ambassador from Beirut and asked the Lebanese envoy to leave last month following televised comments by George Kordahi, Lebanon’s information minister. Kordahi said the war in...
    BUDAPEST, Hungary (AP) — From appliance stores in the United States to food markets in Hungary and gas stations in Poland, rising consumer prices fueled by high energy costs and supply chain disruptions are putting a pinch on households and businesses worldwide. Rising inflation is leading to price increases for food, gas and other products and pushing many people to choose between digging deeper into their pockets or tightening their belts. In developing economies, it’s especially dire. “We’ve noticed that we’re consuming less,” Gabor Pardi, a shopper at an open-air food market in Hungary’s capital, Budapest, said after buying a sack of fresh vegetables recently. “We try to shop for the cheapest and most economical things, even if they don’t look as good.” Nearly two years into the COVID-19 pandemic, the economic impact of the crisis is still being felt even after countries raced out of debilitating lockdowns and consumer demand rebounded. Making things worse, a new surge of infections is leading to renewed restrictions in Europe and other parts of the world. The reverberations are hitting central and...
    Andreea Papuc | Bloomberg Stocks looked set to fall in Asia on Monday amid uncertainty about how the omicron coronavirus strain will impact global economic reopening. Currency markets stabilized after Friday’s volatility. Equity futures for Japan, Australia and Hong Kong pointed lower. The S&P 500 last week had its worst post-Thanksgiving performance since 1941, oil’s slump topped 10% and the yield on 10-year Treasuries slid the most since March 2020. The dollar was steady against the yen and euro in early trading. The currency of South Africa, where the variant was identified, rose as much as 0.9% against the greenback. Bonds in Australia and New Zealand climbed. Two South African health experts — including the doctor who first sounded the alarm about omicron — suggested the variant is presenting with mild symptoms so far. The World Health Organization urged caution, saying it will take time to assess the strain. Traders last week pushed back the expected timing of a first 25-basis-point rate increase by the Federal Reserve to July from June. Fed Bank of Atlanta President Raphael Bostic played down...
    A guest on ABC’s "Good Morning America" posed concerns over how the omicron variant of the coronavirus could affect President Biden’s economic record. ABC congressional correspondent Rachel Scott filled in as the anchor for the morning show on Sunday when she spoke with deputy political director Averi Harper on the emergence of this new variant. Namely, Scott asked what kind of challenge the omicron variant posed to Biden. BIDEN ‘PREMATURELY DELARED INDEPENDENCE FROM THE VIRUS’: NBC’S CHUCK TODD  President Joe Biden points to the Oval Office of the White House as he arrives on Marine One on the South Lawn in Washington, Sunday, Nov. 21, 2021, as he returns from Wilmington, Del. (AP Photo/Carolyn Kaster) (AP Photo/Carolyn Kaster) "Nearly 150 days ago the president said we were closer to declaring independence from the virus. Now we see this new Covid variant. How much of a challenge does this pose for the President," Scott asked. Harper remarked that the latest variant could pose "a significant challenge" on the "economic front" after the largest single-day drop of the year in U.S....
    ASHGABAT, Turkmenistan (AP) — The leaders of several Asian countries called for boosting their economic ties and pledged to provide assistance to Afghanistan during a summit in Turkmenistan on Sunday. The countries, which are part of the 10-member Economic Cooperation Organization that includes Turkey, Iran, Pakistan, Afghanistan and six ex-Soviet nations, called for removing trade barriers and developing new transport corridors across the region. They also voiced concerns about the situation in Afghanistan, which has been taken over by the Taliban, and promised to help stabilize the country. Speaking at the summit, Pakistan’s President Arif Alvi pointed at the threat of Afghanistan’s economic and financial collapse, saying the Islamic world needs to pool efforts to help avert a “catastrophe that could foment chaos and conflict.” He said countries in the region need to move quickly to help rebuild the Afghan economy, shore up the country’s health care and education systems and offer humanitarian assistance. He noted that the stabilization of Afghanistan would allow the implementation of long-stalled infrastructure projects, including a gas pipeline, railways and power grids linking countries in...
    Redesigning organisms for other purposes is a new field of scientific endeavor known as synthetic biology. According to a report by the World Economic Forum, expect to see (and hear) more about it as scientists look to reset humanity’s future and the “bio-economy” on the back of coronavirus vaccine research. The study was released Thursday by the Switzerland-based WEF, and proclaims a scientific human reset is near because “Synthetic biology lies at the intersection of an ageing population, climate change and environmental degradation.” It sets out what it calls the “bioeconomy” that covers all sectors and systems that rely on biological resources (animals, plants, microorganisms, and derived biomass, including organic waste) as well as their functions and principles. The study points to synthetic biology interlinks between economic and industrial sectors such as food, health, chemicals, materials, energy and services that use biological resources and processes – pretty much everything that sustains and underlines human endeavour. DNA has its role as well. Lessons learned from COVID-19 vaccines could advance synthetic biology. Heres how @KeoluFox https://t.co/T0yLmsGaUb pic.twitter.com/Ren0SZAjqy — World Economic Forum (@wef) September...
    CHAPEL HILL, Tenn. – A fourth-generation dairy farmer warned that climate change-related regulations and a slew of economic woes could signal the end for her family's way of life after nearly a century. "We've been attacked in the dairy industry for a while now," Stephanie Nash told Fox News. "Instead of educating people through the farmer, we're educating them through people that have never farmed and we're killing off our family farmers." Rising costs, labor and supply shortages and little support – in addition to climate change and conservation regulations – are all major obstacles threatening the Nash family, which has been in the dairy farming business for 92 years. Stephanie, 28, and her father, Steven Nash, moved their almost century-old dairy farm from California's San Joaquin Valley to Tennessee in 2014 to escape the Golden State's strict farming regulations and high cost of doing business. SENATE REPUBLICANS TO SOUND ALARM ON RISING COST OF THANKSGIVING AMID INFLATION, SUPPLY CHAIN CRISIS "They regulate us on every step we make," Stephanie recalled from their time in California. "We’re constantly looked at,...
              moreby Casey Harper   White House Press Secretary Jen Psaki confirmed that President Joe Biden will run for reelection in 2024, but critics have been quick to point out economic difficulties during his presidency. Psaki addressed reporters’ questions about previous reporting that Biden would run for the White House again in 2024, saying, “That’s his intention.” Biden would be 82 years old at the start of his second term. “The only thing I’ve heard him say is he’s planning on running again,” former Connecticut Sen. Chris Dodd told the Washington Post, which first reported the news. “And I’m glad he is.” A Washington Post-ABC News poll released earlier this month showed that Biden’s approval rating has decreased to about 41%. Meanwhile, 53% disapprove of his job as president, putting his approval figures at the lowest since he took office. Behind this fall in approval has been rising inflation, gas prices, and the supply chain shortage, all of which have become major economic concerns for many Americans. The Post/ABC poll reports that Biden’s approval rating on the economy has dropped to 39%, which is worse than...
              moreby Dr. Rainer Zitelmann   One of the most frequently raised arguments against capitalism is that it is the primary driver of environmental pollution and climate change. But if we compare Yale University’s ranking of countries with the highest environmental performance with the Heritage Foundation’s Index of Economic Freedom, a very different correlation emerges. For more than 20 years, Yale University has been publishing the Environmental Performance Index (EPI) and ranking countries according to their environmental health and ecosystem vitality. The EPI uses 32 performance indicators across eleven issue categories: Air Quality Sanitation & Drinking Water Heavy Metals Waste Management Biodiversity & Habitat Ecosystem Services Fisheries Climate Change Pollution Emissions Water Resources Agriculture According to Yale University’s analyses, Denmark, Luxembourg, Switzerland, the United Kingdom and France are the highest ranked countries, followed by Austria, Finland, Sweden, Norway and Germany. The report states, “One of the consistent lessons of the EPI is that achieving sustainability requires sufficient economic prosperity to fund public health and environmental infrastructure.” The researchers find that there is a clear positive correlation between environmental performance and country wealth,...
    Taipei, Taiwan (CNN)In just five years, Lin Fei-fan went from charging into Taiwan's legislature and occupying the building with hundreds of students to a senior job for the island's ruling party. But his story could have been very different if he lived in Hong Kong, where student activists once brought the financial hub to a standstill as they took to the streets to demand democracy and freedoms.Lin says he could only watch from afar as nearly all pro-democracy figures in nearby Hong Kong, about 800 kilometers (500 miles) southwest of Taipei were arrested or fled overseas in the year since Beijing imposed a controversial national security law in response to mass pro-democracy protests in the city."If I were in Hong Kong, I think I'll probably be in jail," said Lin, the 33-year-old deputy secretary-general of Taiwan's governing Democratic Progressive Party (DPP).The recent events in Hong Kong have given Lin greater determination to defend Taiwan's sovereignty, he said -- and he is not alone.Sunflower Movement activist Lin Fei-fan delivers a speech in front of Taiwan's Parliament on March 27, 2019 in...
    (CNN)After South Africa sounded the alarm on a new Covid-19 variant, the Dow Jones Industrial Average dropped 900 points on Black Friday, marking a dire start to what was forecast to be a record-shattering holiday spending season. Julian ZelizerNews of the Omicron variant, which has an unusually high number of mutations, will certainly throw a spanner in the works for the Biden administration as the President struggles with flagging approval ratings and a pessimistic view of the economy.The administration will need to work quickly to get ahead of the new variant. The administration has already announced it will restrict travel from South Africa and seven other countries, but the president needs to do more, as the new variant has already been detected in places including Belgium and Hong Kong. While the world waits for more data on vaccine efficacy against the Omicron variant, Biden needs to continue the push to vaccinate those who have not yet gotten the jab and to direct funds to ramp up the production and development of medical treatments for Covid. Despite the news that...
    A United Nations report on gender violence found that 4,091 women were victims of femicide in Latin America and the Caribbean in 2020, compared with the previous year. The study was released by the global organization's Economic Commission for Latin America and the Caribbean on Wednesday, and noted a 10 percent decrease compared to 2019 when 4,576 gender-related deaths of women were registered in the region.  Femicides are killings of women, by men, on account of their gender.  'Feminicide or femicide as an extreme and lethal form of gender violence continues to affect thousands of women and girls every year in Latin America and the Caribbean,' the Economic Commission for Latin America and the Caribbean said in the report. Economic Commission for Latin America and the Caribbean released on Wednesday its report on gender violence which found that 4,091 women were victims of femicide in 2020, decreasing from 4,576 in 2019 Anguila and British Virgin Islands were the only two nations among 26 countries reporting  gender-related killings of women to the United Nation's Economic Commission for Latin America and the Caribbean that...
    Friday, Rep. Jim Jordan (R-OH) predicted a spending bill pushed by congressional Democrats and touted by President Joe Biden would not receive any votes from Republicans. He warned the bill would make matters worse and predicted it would exacerbate the inflation problem. “I don’t think they’ll be any Republican in the Senate or the House that will vote for this crazy piece of legislation,” he said. “And frankly, Lawerence, let’s hope Senator Sinema and Senator Manchin hold firm and they don’t allow this thing to pass because we know it is going to exacerbate the inflation problem we talked about. I mean, it is a part of the Democrats’ crazy economic plan. Their economic plan has basically been lockdown the economy, spend like crazy, pay people not to work. And now for everybody that has been working — they’re going to raise your taxes. Such a deal.” “So, let’s hope this doesn’t pass because it will make matters worse,” Jordan continued. “Right now, the country gets it. Seventy-one percent of the country thinks we’re on the wrong track. In my time in...
    ROME (AP) — Italian Premier Mario Draghi said that a bilateral treaty signed on Friday with French President Emmanuel Macron to strengthen bilateral cooperation would also help create a “true European defense.” The treaty deepens cooperation “in crucial sectors, from security to justice, from research to industry,’’ Draghi told a press conference. That includes spending to create “a true European defense” that Draghi said “obviously is complementary to NATO” and doesn’t substitute the alliance. “To be sovereign, Europe needs to know how to defend its borders. We need to create a real defense,” he said. Draghi also cited the intent to strengthen investments in such key areas as semiconductors, as the global supply chain is hard hit by shortages from Asia, as well as in more sustainable energy sources, as countries seek to slow the pace of global warming. Macron said the agreement does not substitute France’s longtime friendship with Germany, which has been considered key to economic prosperity and security in postwar Europe. But he said the two friendships are different. “In France, we say that...
    BEIRUT (AP) — A small group of protesters broke into a ministry building in Beirut early Friday and removed a photo of the president from one of its main rooms, as the Lebanese pound hit new lows amid a worsening economic and political stalemate. The nearly dozen protesters who entered the Ministry of Social Affairs said conditions in the crisis-hit country have become unbearable as a result of the rapid economic collapse and ongoing crash of the pound, which reached 25,100 to the U.S. dollar. The previous record was 25,000. Prices have been skyrocketing in recent weeks as the government lifted subsidies on fuel and some medicines, making them out of reach of many in Lebanon. Some three quarters of the population of six million, including a million Syrian refugees, now live in poverty. The minimum monthly wage is now worth about $27. Protesters have blamed the ministry for sluggishness in issuing ration cards that are supposed to give poor families monthly financial aid. The protesters broke into the meeting room at the ministry and turned...
    Let's mend law THE world won’t buy President Macron’s ridiculous bluster over the Channel disaster. We can all see his police doing nothing as families with young children are packed aboard flimsy inflatables and shoved out into the world’s busiest shipping lane. They even stood idly by again yesterday despite the 27 tragic deaths hours earlier. 2Slashing their chances of staying, is key to stopping the small boats and further appalling tragediesCredit: AP But it is unthinkable that Macron will not now swallow his pride and his anti-Brexit fury and let Britain send officers to help patrol his beaches, since his own cops seem unable to cope. That will stop at least some dinghies setting sail. Combined sea patrols returning boats safely back to France will help further. So will both nations’ intelligence agencies working together to take down the criminal gangs behind the wicked people-smuggling trade. But these are short-term sticking plasters. The reality is that there is some merit in French jibes that Britain is a paradise for illegal immigrants. Their chances of making a new life...
    MEXICO CITY (AP) — Mexico’s economy slowed in the third quarter, posting a slight contraction compared to the previous three months, but still well above the same quarter a year earlier, according to data released Thursday by its National Institute of Statistics and Geography. Moody’s Analytics Latin America Director Alfredo Coutiño noted the effects of a surge of COVID-19 infections in August, supply-chain disruptions and a new law in Mexico aimed at eliminating outsourcing as among the factors responsible for the 0.4% quarterly contraction. Mexico President Andrés Manuel López Obrador urged the public to “view calmly” the effects of the slowdown and said the economy would still finish the year with 6% growth due to growing employment and foreign investment. He said the number of workers now registered in the social security system was now higher than before the pandemic. The economy’s third quarter performance was 4.7% above the same quarter last year. The disappointing economic news came one day after the peso dropped 1%, closing Wednesday at 21.44 to the dollar. BASE Financial Group attributed the peso’s plunge to...
    For months much of the media downplayed the effects of inflation and the supply chain crisis, with some even calling the economic hardship "good" for Americans despite it being an expensive burden on families this holiday season. Most recently, Yahoo Finance wrote, "Maybe Christmas Shortages are a Gift." In his piece, senior columnist Rick Newman advocated for "partial Christmas" - not just in the current rocky climate, but for years to come. "Save money, time and aggravation by exploiting the pandemic shortages to slash your shopping burden," he wrote. "Collusion is illegal in business—but not in parenting," he later said. "So coax as many of your fellow parents into the scheme as you can. It’s a solid pitch: Save money, time and aggravation by exploiting the pandemic shortages to slash your shopping burden. Maybe you’ll actually enjoy the holidays for once. Use the money you save to buy something nice for yourself. If you’re nervous, keep some cash on hand for day-after clearance sales." "Maybe Partial Christmas is more like real Christmas than the Excessive version," he concluded. "Gutsy parents...
              moreby Jason Schaumburg   Global IT consulting company Capgemini will invest $20.1 million in Tennessee to build a new delivery center in Nashville, state and company officials announced. The investment is expected to create 500 jobs, with the possibility of growth leading to another 500 jobs. “The establishment of Capgemini’s new delivery center is a major milestone that will help us continue to accelerate our business in the U.S.,” Capgemini CEO of Americas Jim Bailey said in a news release. “The area is rich with diverse talent from nearby colleges and universities, has strong accessibility and provides a ripe opportunity with our current partners and future clients. The delivery center will focus on Capgemini’s capabilities in enterprise application modernization, artificial intelligence, machine learning and IT solutions, state and company officials said. “This expansion continues our investment to best serve our clients in key markets at every stage of their digital transformation journey,” Bailey said. Capgemini is based in France and has a presence in 50 countries. “In recent years, Middle Tennessee has far outpaced national technology job growth rates and...
    Is President Joe Biden responsible for inflation ? That's what a majority of voters said in a Yahoo News/YouGov poll released Tuesday. Thirty-nine percent said Biden has a "great deal" of blame regarding inflation, while 18% said he deserves "some" of the blame. When it comes to the economy, inflation is the most important issue nationally, 17% of the poll's respondents said. THE VIEW CO-HOST BLAMES HARRIS'S LOW APPROVAL ON PEOPLE WANTING TO 'COME DOWN ON THE WOMAN' Less than one-fifth of voters, only 18%, believe Biden is responding to the economic crisis efficiently, the poll found. The economy could be affecting Biden's low approval rating, which stands at 43%, according to Yahoo News's write-up of the survey. CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER People are facing multiple economic challenges over the holiday season, including fallout from the coronavirus pandemic and the supply chain crisis. Unemployment, however, reportedly hit about a 50-year low. The poll was conducted between Nov. 17 and 19 among 1,696 U.S. adults and had a margin of error of...
    ‘Tis the season to be thankful for a bountiful harvest. Coronavirus and its variants made 2021 a difficult year in many ways for many people, especially economically speaking. Yet numerous business patterns charted a course to be grateful for – even if you haven’t been lucky enough to be helped by any or all of these moves. In the spirit of holiday gratitude, I offer my appreciation of 10 trends in the commercial world that we’ve witnessed since our last traditional turkey meal — without noting the conundrums, complications, consequences or controversies tied to these swings. More Jobs California bosses added 811,000 workers in the past year as the pandemic’s economic throttle has been lessened. Big winners were leisure and hospitality workers rehired as the business of having fun enjoyed a modest return to normal. Other industries with big staffing increases were business services, education and health, and transportation. Pay raises Bosses scrambled to restaff their business and competition for talent in many industries has become heated. As a result, paychecks grew — and in some cases, by a large...
    CNBC host Rick Santelli reacted with excitement to a slew of positive economic news that came out Wednesday, including a pandemic-low 199,000 initial jobless claims — the lowest since 1969. Although inflation has been the top story in the economy for several months, Wednesday morning saw the release of several pieces of good economic news. CNBC anchor Becky Quick tossed to Santelli for his reaction as the numbers came in. Santelli read the initial claims number first and said “Now that’s a nice Thanksgiving present! We breach two hundred thousand for the first time post-COVID.” He had an even bigger reaction to the shrinking of the trade deficit, exclaiming “Wow! For October, this is really big news, we went from a record-setting getting close to minus $100 billion, in the high 90s, to minus $82.9 billion.” “Now, granted, it isn’t great news, but it is very good news that it’s moved under 90 and so close to minus $80 billion, Santelli explained. The October deficit was also about $12 billion lower than expected, according to Econoday. “With regard to wholesale inventories,...
    His Fraudulency Joe Biden’s approval rating plunged to 42 percent in a poll conducted by far-left NPR. His disapproval rating has jumped to 52 percent. In a month, in this specific poll, Biden has lost four total points. Back in October, Biden sat at 44 percent approve, 50 percent disapprove. So he’s gone from being underwater by six points to ten points. NPR, a left-wing, taxpayer-funded propaganda outlet that frequently spreads misinformation, writes, “Americans’ most pressing economic concern is inflation, and it’s contributing to a decline in how they view President Biden, according to a new NPR/Marist poll.” BiDENS AMERICA: As inflation soars in the Biden economy, working class Americans are struggling to be able to pay for groceries. So, naturally, China Joe has big plans for them. https://t.co/ZIB3FDBIGG — Breitbart News (@BreitbartNews) October 4, 2021 “Biden’s approval is down to 42%, the lowest recorded in the survey since Biden took office. And a slim majority also say he hasn’t fulfilled his campaign promises.” This part of the poll is fascinating: When voters were asked what their top economic concerns are,...
    What else? General Mills is far from the first major corporation to announce significant price hikes amid the ongoing inflation and supply chain crises in America. The practice has become commonplace. Well-known companies such as Coca-Cola, Kraft-Heinz, Tyson, Unilever, Proctor and Gamble, and countless others have also responded to the volatile economic situation by shifting costs onto consumers. McDonald's, too, announced in October that it would be jacking up menu prices to withstand the economic headwinds. And this week, Dollar Tree, America's long-standing one-dollar discount chain, made history by announcing plans to raise the price on most of its products from $1.00 to $1.25. The trend will likely continue until soaring inflation starts to settle. But experts aren't sure when that will be, and in the meantime, American consumers will suffer. Earlier in November, the Bureau of Labor Statistics reported that the Consumer Price Index for October had risen 6.2% over the last year. It marked the largest yearly increase in the price of consumer goods in more than three decades — and things are showing no signs of slowing...
    BRUSSELS (AP) — The massive spike in COVID-19 cases in recent weeks is threatening the European Union’s recovery from the deep economic slump caused by last year’s onset of the pandemic, the bloc’s economy chief said Wednesday. And medical experts warned that the public health situation could get much worse. Only two weeks ago the EU executive raised its growth forecast for an economy bouncing back from the worst of the pandemic. But EU Economy Commissioner Paolo Gentiloni said Wednesday the upbeat picture was now in doubt again amid rising infections and with restrictions being reintroduced in a growing number of member states. The fear is that the fall forecast for 5% growth this year in the 19-nation eurozone could still be hurt by the end-of-year virus crisis. “Our only message is: Take the situation very seriously,” Gentiloni said, “but without thinking that the economic impact will be the same one as one year ago.” Medical experts warned of more hardship ahead, and called for urgent measures that could impact crucial sectors like the restaurant, bar and tourism industries,...
    DUBAI, United Arab Emirates (AP) — The island kingdom of Bahrain announced plans Wednesday for over $30 billion in spending to spur investment and build up infrastructure over the next several years, promising to create five brand-new cities on man-made islands. The project signals the government’s efforts to drive growth after the economic pain of the pandemic even as its fiscal picture remains shaky, with the country’s public debt rising 133% of its gross domestic product last year, according to the International Monetary Fund. The statement did not offer details as to how the country would fund the massive undertaking, which involves 22 projects, including artificial islands that would boost the kingdom’s landmass by over 60%, a new causeway to Saudi Arabia to stimulate regional trade and a 100-kilometer (62-mile) metro system connecting all the country’s cities. “Bahrain is emerging from the pandemic with a bold ambition that looks beyond economic recovery to a more prosperous future,” said Finance Minister Sheikh Salman bin Khalifa Al Khalifa. Bahrain, like its neighbors, is pushing a so-called Vision 2030 to diversify its...
    In Turkey, the Apple brand has decided to suspend its online sales. At least business in Turkey is not good for Apple. As a direct result of President Recep Tayyip Erdogan’s highly controversial monetary policy, the US company has made a tentative decision as the country’s economy experiences an unprecedented crisis. Stop its online sales. This drastic decision by GAFAM has not been officially confirmed, but Apple Turkey’s trading platform now looks like a ghost site. If the latter still seems to work on the front, that’s it No items can be added to the cart, The button is simply disabled. The Turkish lira fell On Tuesday, the Turkish lira depreciated by 15% after another speech by President Erdogan on the country’s financial situation. Unfortunately it has declined unprecedentedly since the beginning of the year, The Turkish currency has lost 45% of its initial value. Even last week there was a 22% drop. In the grip of 20% inflation from last year, Turkey is now recording a historically low rate of 14.5 pounds to 1 euro. Faced...
    London (CNN Business)A resurgence of coronavirus cases across Europe is feeding fears that the region's strong economic recovery from the pandemic could be jeopardized by another tough winter.So far, the new Covid-19 wave is having only a limited impact on business activity in the 19 countries that use the euro. The Purchasing Managers' Index from IHS Markit, a key gauge of the economy, rose in November after slipping to a six-month low in October, according to data released Tuesday.But expectations for the future are darkening. Austria announced last week that it's going back into a national lockdown. Skyrocketing infections in Germany have also sparked questions about whether the region's largest economy could reimpose sweeping restrictions."A stronger expansion of business activity in November defied economists' expectations of a slowdown, but is unlikely to prevent the euro zone from suffering slower growth in the fourth quarter, especially as rising virus cases look set to cause renewed disruptions to the economy in December," said Chris Williamson, IHS Markit's chief business economist.Consumer confidence in the euro zone fell "markedly" in November, according to the...
    (CNN)When a president has to assure Americans there'll be enough turkey for Thanksgiving, it's a sure sign of national malaise.That was the case Tuesday as the holiday season begins with citizens, already wearied by the worst public health crisis in 100 years, now punished by rising prices, the painfully high cost of gasoline and fears that winter's arrival could mean another spike in Covid-19 cases. President Joe Biden's transformational agenda is designed to reorient the economy toward working people. But American wallets and morale are hurting now, so its complex programs, which may take months or years to deliver relief, won't lighten the dark mood music on a holiday he is spending on Nantucket.While there are some strong signs in the economy pointing to job and wage growth, Republicans are seizing upon the country's difficulties to lambast Biden's leadership, increasingly confident of big wins in the House and Senate next year. Every day brings new evidence for their case, with headlines about Dollar Tree raising its eponymous baseline price to $1.25 and with staples like breakfast cereal set to cost...
    A Trans-Pacific trade pact orchestrated by the United States has turned into a strategic opportunity for China, while domestic political pressure impedes President Joe Biden’s ability to use American economic clout in the competition with Beijing. “It's a tool we don't have because of domestic political reasons,” American Enterprise Institute senior fellow Derek Scissors, an expert in U.S. economic relations with Asia and China’s economic policies, told the Washington Examiner. The Trans-Pacific Partnership was negotiated by former President Barack Obama’s administration in his second term as a way to bind the Pacific Rim more closely to the U.S., then modified after the political forces marshaled by then-candidate Donald Trump and Vermont Sen. Bernie Sanders in the 2016 presidential election season spiked American participation in the pact. China applied last month to join the pact, in the absence of the U.S., and Biden’s brain trust views its overture as a “strategic answer” to American efforts to fortify alliances in the Indo-Pacific. “And so, [with respect to] those who say that China is doing this for show in CPTPP — I would...