By Andrew Atkinson 19 February 2018 (Bloomberg News) – The income boom enjoyed by people born between 1966 and 1980 has turned to “bust” for the generation that followed them, according to a report published Monday.In an analysis of eight high-income countries, the Resolution Foundation think tank found that millennials in their early 30s have […]
By Danica Coto 18 February 2018 SAN JUAN, Puerto Rico (Associated Press) – Puerto Rico’s power company said Sunday that it will reduce its operating reserve to save money amid a cash shortfall as officials warned that the move could destabilize the U.S. territory’s fragile electrical grid. William Rios, director of generation at Puerto Rico’s […]
By Martin Arnold 6 February 2018 (Financial Times) – Central banks must clamp down on bitcoin and stop such cryptocurrencies “piggybacking” on mainstream institutions and becoming a “threat to financial stability”, the head of the Bank for International Settlements has warned.Agustín Carstens, general manager of the BIS — known as the bank for central banks […]
12 February 2018 (MSNBC) – President Trump released his fiscal 2019 budget on Monday, 12 February 2018. Steve Rattner says the country’s budgetary outlook is “potentially apocalyptic”. Photo: MSNBC Rattner: Deficits headed for $2 trillion
By Umair Hague 25 January 2018 (Eudaimonia & Co.) – You might say, having read some of my recent essays, “Umair! Don’t worry! Everything will be fine! It’s not that bad!” I would look at you politely, and then say gently, “To tell you the truth, I don’t think we’re taking collapse nearly seriously enough.” […]
By Patricia Mazzei and Mary Williams Walsh 24 January 2018 (The New York Times) – The devastation wrought by Hurricane Maria has made Puerto Rico’s already dire financial situation even worse: The island’s leaders acknowledged late Wednesday that they will not be able to pay down any portion of their more than $70 billion debt […]
25 January 2017 (The Economist) – America, which has long defined itself as a standard-bearer of democracy for the world, has become a “flawed democracy” according to the taxonomy used in the annual Democracy Index from the Economist Intelligence Unit, our sister company. Although its score did not fall by much—from 8.05 in 2015 to […]
By Peter Richards 30 December 2017 BRIDGETOWN, Barbados (CMC) – In 2017, the Caribbean felt the full brunt of climate change with a warning that current trends indicate that there will be no respite. Within a two-week period, Hurricanes Irma and Maria brought home the reality of the impact of climate change as they churned […]
By Peter Richards 30 December 2017 BRIDGETOWN, Barbados (CMC) – In 2017, the Caribbean felt the full brunt of climate change with a warning that current trends indicate that there will be no respite.Within a two-week period, Hurricanes Irma and Maria brought home the reality of the impact of climate change as they churned their […]
4 January 2018 (Munich Re) – The hurricane trio of Harvey, Irma, and Maria will cost the insurance industry a record amount in 2017: the final insurance bill for those and other natural catastrophes, including a severe earthquake in Mexico, is expected to come to US$ 135bn – higher than ever before. And overall losses […]
