Author: ovieoftoronto

Written by Henry Carr: Economics Editor, The EconomistWill the forces of stagflation affecting the global economy continue? Throughout 2021, many central bankers and economists have said that the forces causing higher inflation and slower growth will be temporary. Supply chain bottlenecks will be resolved, energy prices will return to normal, and the rich world's workers who have been removed from the workforce will return to work, although no one fully understands why. Probably. However, as 2021 draws to a close for financial markets, not only the public but even central bankers themselves are beginning to lose confidence.The dilemma facing policymakers…

Amnesty International says the Dutch government risks exacerbating racism through its continued use of unregulated algorithms in the public sector, in a damning new analysis of the country's childcare benefits scandal. Ta. The report 'The Xenophobia Machine' finds racial profiling in the design of algorithmic systems used to determine whether claims for childcare benefits are flagged as inaccurate and potentially fraudulent. It reveals how it was incorporated. As a result, tens of thousands of parents and caregivers, mainly from low-income households, have been unfairly accused of fraud by the Dutch tax authorities, with ethnic minorities disproportionately affected. The scandal brought…

In the decade following the financial crisis, the problem for the world economy was a lack of spending. Worried households paid down debt, governments imposed austerity, and prudent companies hired from a seemingly limitless pool of workers while holding back investment, especially in physical strength. Now, consumption is coming back explosively as governments stimulate the economy and consumers allow themselves to be extravagant. The surge in demand is so strong that supply is struggling to keep up. Truck drivers are paid their contracts, swarms of container ships sit off the coast of California waiting for ports to clear, and energy…

Q: What led you to write Three Days at Camp David: How a Secret Meeting in 1971 Transformed the Global Economy? In August 1971, President Nixon took his top economic advisors to Camp David. Over three days, they made the radical and momentous decision to cut the dollar loose from gold. In the process, they unilaterally changed the whole global monetary system. When I started the book, I had in mind a major critique of the way they did it. But as I got deeper into the details and understood the rationale, I came to believe it was the only…

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These are the latest news about Pope Francis, the Vatican, and the Catholic Church brought to you by the Vatican Staff of Catholic News Agency, a service of EWTN News. Latest Pope Francis: “Hope is a gift that comes directly from God” May 8, 2024 Written by Matthew Santucci “Christians do not have their hopes based on their own merits. If they believe in the future, it is because Christ died… Read more Pope Francis welcomes Swiss Guard recruits to Vatican May 7, 2024 Almudena Martinez Bordiu Pope Francis welcomed the Vatican's Swiss Guards during the swearing-in of new guards…

WASHINGTON — Falling crop yields, the spread of disease, rising sea levels will engulf coastal cities and rising temperatures are likely to significantly reduce global wealth by 2050, a major insurance company warned Thursday. He highlighted the consequences if the world does not urgently slow down its use of fossil fuels.A report by Swiss Re, the world's largest provider of insurance to other insurers, says the impact of climate change will increase global economic output by 2050 compared to the level of growth in the absence of climate change. It is expected that this will reduce the cost of high-income…

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World economic forecast.Based on data from Dr. Bill Connolly, FocusEconomics The global economy will accelerate in 2021, but significant changes will be seen in many parts of the world. The world will benefit from vaccinations, both directly by reducing disease and indirectly by reducing lockdowns and fears. Although it will take much of 2021 and into 2022 for the full benefits of vaccination to be felt, and poorer countries may take even longer, the United States' major trading partners should look strong next year. The OECD recently reported that “the outlook has improved in recent months, with signs of recovery…

Daniel Ricciardo is one of the most popular drivers on the F1 grid, with his big smile and shoe-on podium celebrations adding some personality to what can sometimes be a dry series. The Australian has won eight races in his F1 career, seven of them with Red Bull, and has enjoyed recent success with McLaren. Ricciardo moved to Europe full-time and began his junior single-seater career in 2007, winning the Formula Renault 2.0 WEC series a year later and second only to Valtteri Bottas in the Eurocup Formula Renault 2.0 Championship. He achieved his first breakthrough by winning runner-up. The…