Covid-19 crisis could trigger global food shortage, UN warns
While people rushed to stock up on toilet paper and other supplies as the coronavirus crisis escalated, some countries decided to enforce protectionist measures, including export bans for certain products, to satisfy growing domestic demand.“The worst that can happen is that governments restrict the flow of food,” Maximo Torero, chief economist of the UN Food and Agriculture Organization, told the Guardian, adding that we may face the consequences of these steps soon. Also on rt.com Russia BANS export of certain grains amidst run on buckwheat For example, Russia halted exports of buckwheat and other grains for 10 days starting from March 20. Neighboring Kazakhstan followed suit and introduced restrictions on shipments of wheat flour, … [READ MORE...]
Medical Expert Who Corrects Trump Is Now a Target of the Far Right
Adding that Dr. Fauci is bearing the brunt of the attacks, Mr. Bergstrom said: “There is this sense that experts are untrustworthy, and have agendas that aren’t aligned with the people. It’s very concerning because the experts in this are being discounted out of hand.”The Trump administration has previously shown a distaste for relying on scientific expertise, such as when dealing with climate change. But misinformation campaigns during a pandemic carry a unique danger because they may sow distrust in public health officials when accurate information and advice are crucial, said Whitney Phillips, an assistant professor at Syracuse University who teaches digital ethics.“What this case will show is that conspiracy theories can kill,” she said.The National Institute of Allergy and Infectious … [READ MORE...]
Restaurant Workers Get a Final Paycheck and a Meal From Their Peers
The shock is starting to wear off, and they are formulating a survival plan. Once the government website stops crashing, Mr. Grinstead-Mayle hopes to submit an application for unemployment benefits. The couple’s insurance premiums have been waived for the time being, and they plan to apply for a small-business loan to save the barber shop.“It’s going to be dicey,” Mr. Grinstead-Mayle said.In Anchorage, Alaska, José Flores Isaza, 31, just lost his job as a bartender at the busy Spenard Roadhouse. He has been in the business for 16 years, and makes $10.75 an hour. With tips during a good shift, he might make $45 an hour.The city closed down dine-in service at restaurants and bars on March 16. “It was wild,” Mr. Flores said. “A week ago, I had no idea I was going to get laid off and hoping to … [READ MORE...]
Latest News
April Bills Loom. The Economy Hangs on How Many Are Left Unpaid.
Progressives, including Representative Alexandria Ocasio-Cortez of New York, have called for moratoriums on rent and other financial obligations. And even conservatives, despite concern about government initiatives already costlier than those in the 2008-9 financial crisis, have said this is a case where it makes sense to provide grants — not merely loans — to individuals and businesses.Michael R. Strain, director of economic policy studies at the right-leaning American Enterprise Institute, … [Read More...]
11 of Our Best Weekend Reads
Health care workers around the world are asking for help. “What do you want?” “PPE.” “When do you need it?” “Now.” They’re in desperate need of more PPE, also known as personal protective equipment. Stocks of the critical gear are disappearing during the coronavirus pandemic. Doctors say they are rationing gloves, reusing masks and raiding hardware stores. The C.D.C. has even said that scarves or bandannas can be used as protection as a last resort. “I’ve met the doctors, and talked with them … [Read More...]
The U.S. Is About to Vastly Increase Its Debt. That’s a Good Thing.
“This is not permanently raising government spending,” said Louise Sheiner, a senior fellow at the Hutchins Center on Fiscal and Monetary Policy at the Brookings Institution. “It’s a one-time thing. A big one-time thing, but it raises the level of debt and doesn’t do anything to the trajectory of debt after that, which makes it less challenging in the grand scheme of things.”Simple math shows why. If the national debt were to rise by $2 trillion compared with what had been forecast, and the … [Read More...]
Coronavirus relief bill: What it means for business
Businesses will also have to cede some control to the federal government in exchange for lifelines. Companies that borrow money are forbidden to repurchase their stock or pay dividends during the loan and for a year after it is repaid. They must not cut staffing by more than 10 percent through the end of September.Loans to small businesses, with 500 employees or fewer, are limited to $10 million. Loans to cover salaries of over $100,000 wouldn’t qualify for forgiveness, and businesses must … [Read More...]
Previous news
- ‘It’s a Wreck’: 3.3 Million File Unemployment Claims as Economy Comes Apart
- Fed’s Powell Says U.S. Must Get Virus Under Control Before Economy Restarts
- How the Fed’s Magic Money Machine Will Turn $454 Billion Into $4 Trillion
- Essential? Retailers Like Guitar Center and Michaels Think They Are
- How to Prevent a Coronavirus Depression
Small Business
Restaurant Workers Get a Final Paycheck and a Meal From Their Peers
The shock is starting to wear off, and they are formulating a survival plan. Once the government website stops crashing, Mr. Grinstead-Mayle hopes to submit an application for unemployment benefits. The couple’s insurance premiums have been waived for the time being, and they plan to apply for a small-business loan to save the barber shop.“It’s going to be dicey,” Mr. Grinstead-Mayle said.In … [Read More...]
Restaurant Closings Inflict Collateral Damage on Other Businesses
Orwashers Bakery, one of the handful of independently owned bakeries in New York City that sells fresh bread to restaurants, has already laid off 20 of its 110 employees. Wholesale revenue, most of it from restaurants and the distributors that supply them, “was the economic engine of the whole company,” Keith Cohen, the owner, said. Since early March, he said, “it has been in a progressive … [Read More...]
Your Money
Check Is in the Mail? For Many Bill Payers, It Won’t Be
Progressives, including Representative Alexandria Ocasio-Cortez of New York, have called for moratoriums on rent and other financial obligations. And even conservatives, despite concern about government initiatives already costlier than those in the 2008-9 financial crisis, have said this is a case where it makes sense to provide grants — not merely loans — to individuals and businesses.Michael R. … [Read More...]
How Philanthropists Are Helping During the Crisis
“Go ahead and start paying those out,” said Carla Wigen, managing director of fiduciary strategy at Laird Norton Wealth Management, which is based in Seattle. “Don’t let the money sit there now.”Emptying those funds is an immediate, easy way to create a lot of change. And donors seem to being doing just that: Schwab Charitable said its clients had increased giving from their funds 31 percent from … [Read More...]