Economy
By now, I’m at the point where I wonder why nobody -that I know of- has tried holding governments, scientists, scientific journals, MSM, responsible for their negligence of COVID-related treatment and prophylactic evidence that is everywhere if you’re willing to look for it.
Because this negligence may well be the reason for millions of deaths, hospitalizations, untold misery, and the disruption of entire societies and economies. When will we hold the willfully blind and dumb feet to the fire for causing all this?
The new use for abandoned oil rigs
As offshore oil and gas platforms come to the end of their working lives, the remarkable ecosystems beneath the waves come into their own.
The grey steel girders of Platform Holly rise 235ft (72m) above the waters of the Pacific Ocean, just a couple of miles off the Santa Barbara coast. Above the water, this decommissioned oil rig is dull and lifeless, but the view below the surface is very different. Beneath the waves, colourful fish, crabs, starfish and mussels congregate on the huge steel pylons, which stretch for more than 400ft (120m) to the ocean floor.
Yellen Faces ‘Currency War’ Redux as Strong Dollar Ditched
Treasury Secretary Janet Yellen faces one more headache on an agenda packed with everything from Covid-19 relief to addressing inequality and overhauling tax policy: tensions over foreign-exchange intervention.
The dollar has tumbled 13.1% from its high last March, thanks in part to historic moves by the Federal Reserve to pump liquidity into the financial system and pull down American borrowing costs. While policy makers abroad at first benefited from U.S. action to stave off a global credit crunch, the appreciation of their currencies more recently threatens to curtail their own recoveries. So from Europe to Thailand to Chile, officials have laid out plans for sustained intervention.
World’s $10 Trillion Food System Eyes a Covid-Era Reboot
“Food systems” is one of those abstractions that for years has been largely confined to academic and policy-making circles, but in the time of Covid-19 it’s renewed a very real debate around hunger and poverty.
What essentially is a $10 trillion complex web of people and processes that ensure food travels from farm to fork is undergoing its greatest scrutiny yet. How to transform it has been a subject of all three food-focused panels at this year’s virtual Davos confab.
US economic decline not as bad as feared
The US economy shrank by 3.5% last year faring better than many other countries despite the heavy economic toll caused by the pandemic.
However growth slowed in the last three months of the year, as a resurgence of virus cases prompted a fresh pullback in activity.
Output increased at an annual rate of 4% in the last three months of 2020.
2020 was the worst year for economic growth since World War II
The U.S. economy shrank by 3.5 percent in 2020 as the coronavirus pandemic ravaged factories, businesses and households, pushing U.S. economic growth to a low not seen since the United States wound down wartime spending in 1946.
Overall, the economy was surprisingly resilient in the second half of the year, given the falloff at the start of the public health crisis, according to data released Thursday from the Bureau of Economic Analysis. Yet, the 1 percent growth in the fourth quarter signaled a faltering recovery and a long road ahead, with 9.8 million jobs still missing and 23.8 million adults struggling to feed their families.
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