Signs of inflation and deflation

first_img Gold still lacks lustre Share this article and your comments with peers on social media Central banks look like they have tamed both the inflation tiger and the deflation risk. But that’s in an environment in which there has been sufficient growth to preclude a general drop in prices, yet not enough growth to get wages and, thus, prices moving up strongly. Whether a benign environment will continue is not certain. The plunge in oil prices made last year an anomaly from both an inflation and a growth perspective. Reported inflation plunged due to lower gasoline and heating/cooling costs while those lower costs acted like a tax break for consumers and a price increase for businesses, thereby stimulating growth. Weak growth a drag on bank profits Questions hang over oil prices Catherine Harris Facebook LinkedIn Twitter Outlook 2016: Not a barnburner Asia-Pacific a bright spot But that was a one-time event. Even if oil prices stay at current levels, consumers and businesses won’t be better off than they were last year. And if prices start to creep up, as most global strategists interviewed for this report expect, there would probably be some negative impact on both retail sales and profit margins, particularly as reported inflation will increase, which could lead to higher wage demands. We are in a strange period because there are both inflation and deflation risks, says Stephen Lingard, director of research at Franklin Templeton Investments Corp. in Toronto. “The drop in oil and other commodity prices is deflationary,” Lingard says. “But, for the first time in a while, it looks like inflation could gain some traction.” Peter O’Reilly, global money manager with I.G. Investment Management Ltd. in Dublin, puts it another way: if there is a big rally in oil prices, that will feed through to inflation. But there also is significant excess capacity in various industries, which could lead to price declines. Certainly, some strategists think there could be wage pressure in the U.S. Craig Basinger, chief investment officer with Richardson GMP Ltd. in Toronto, points out the Arkansas-based Wal-Mart Stores Inc. has raised its minimum wage. However, most global strategists don’t think growth will be strong enough in the U.S. for an upward wage/price spiral to develop. Growth is expected to stay moderate, especially with interest rates now rising. Nor is there any doubt that the U.S. Federal Reserve Board would quickly push interest rates higher if there were any sign of significant inflationary pressure from wages. Strategists are more concerned about the deflation risk in Europe and Japan. Neither is growing strongly, and they are growing at all only because of quantitative easing. With aging populations, both have an underlying sluggishness and fragility that is fertile ground for prices to move down if consumer demand falters. And once prices generally start moving down, the declines gather momentum. There are also concerns about deflation in emerging economies. A number of key economies, such as Brazil and Russia, are in recession and the declines in consumer spending could lead to deflation. There are even concerns about China if consumer spending is weak enough to result in declining prices. Related news Keywords Inflation,  Outlook 2016 last_img read more

Internet infrastructure praised in new book

first_imgHomeFeaturedInternet infrastructure praised in new book Jan. 04, 2019 at 8:46 amFeaturedNewsInternet infrastructure praised in new bookMadeleine Pauker2 years agoNo tags Santa Monica’s status as a technology hub is no accident.It’s a result of careful planning by the city over the past 20 years to install an inexpensive fiber network that allows businesses to transfer massive amounts of data in mere seconds.Susan Crawford, a Harvard Law School professor and Santa Monica High School alumna who also served as President Barack Obama’s technology advisor, writes in her book Fiber: The Coming Tech Revolution—and Why America Might Miss It (Yale University Press) that other cities have a lot to learn from Santa Monica’s investment in its fiber infrastructure. The book is on sale Jan. 8.Fiber transmits data using light rather than electricity, which makes it hundreds of times faster than cable internet. The technology is becoming spreading to cities around the world, including Seoul, Tokyo and Hong Kong, allowing people to access cheap, extremely fast internet. Santa Monica was ahead of its time. While fiber connects cities in the United States, only a quarter of American households can directly access a fiber network. And because of the monopoly the five main cable companies have on the telecommunications industry, Crawford writes, it could stay that way.20 states have made it difficult or impossible for cities to intervene in fiber access, but California is not one of them. That allowed Jory Wolf, the City of Santa Monica’s chief information officer, to create a telecommunications master plan in 1998 that “put him in the room whenever a public works official was considering tearing up a street” to make sure the City installed fiber, Crawford writes in Fiber. “It took his individual patience with this issue and ability to persuade successive mayors and City Councils that it was important,” Crawford said in an interview with the Daily Press. “As a result, Santa Monica remains very relevant as a place for entertainment and tech. Anyone dealing with very large files needs a fiber connection to their business.”Other American cities could follow Santa Monica’s example and reap benefits far beyond creating a better business environment. Crawford said more low-income people could access the internet because municipal fiber would be significantly cheaper than purchasing internet from cable companies. Fiber would also make downloads almost instantaneous and allow people on video conferences to be able to make eye contact in real time, making virtual doctors visits and classroom participation viable.The problem is, she said, is that cable companies have been politically proactive in fighting cities that have tried to build fiber networks. Comcast sued the city of Chattanooga, Tennessee in 2008 when the city tried to build its own fiber network. (It won the lawsuit and has since built a successful network.)Crawford likens this era to the period around the turn of the century when electricity provided by private companies only reached wealthy areas. Despite attacks from electricity companies, most states were able to create state-level commissions to oversee utilities by 1914.A similar transition is needed today, Crawford argues. Internet now is as essential to life as electricity: inadequate connectivity prevents people from accessing economic opportunities, healthcare and education, and hinders business development, she writes in Fiber.While installing fiber is expensive, Crawford said labor (i.e. paying construction workers to tear up streets) comprises 80 percent of the cost of building a network. Like Santa Monica, cities could simply install fiber whenever a street is already undergoing construction. “All it would take to roll out fiber to homes and businesses is political will,” she said.Today, Santa Monica’s CityNet provides free public Wi-Fi in tourist destinations and real-time data for apps that help people finding parking, Crawford writes. The City has also connected ten of its affordable housing buildings to fiber since 2015 with $175,000 in initial funding. An additional federal grant of $1.85 million will bring fiber to 29 more buildings in the next few years, providing more than 900 low-income families with either free Gigabit broadband in their community room or service in their units for $48 per month.Both local and federal policymakers have the obligation to take on the cable companies and pave the way for other cities to follow Santa Monica’s lead, Crawford said.“I don’t like to see people being bossed around, and the whole country is being bossed around by five companies with no competition or oversight, so they can charge whatever they want for subpar service,” she said. “I was pleased my hometown had taken this issue on so deliberately for so many years and is doing it so well.” [email protected] on Facebookshare on Twitteradd a commentLaughing MattersResolve to give blood with the Red CrossYou Might Also LikeFeaturedNewsBobadilla rejects Santa Monica City Manager positionMatthew Hall9 hours agoNewsBruised but unbowed, meme stock investors are back for moreAssociated Press19 hours agoNewsWedding boom is on in the US as vendors scramble to keep upAssociated Press19 hours agoNewsCouncil picks new City ManagerBrennon Dixson19 hours agoFeaturedNewsProtesting parents and Snapchat remain in disagreement over child protection policiesClara Harter19 hours agoFeaturedNewsDowntown grocery to become mixed use developmenteditor19 hours agolast_img read more

Savanne Paille thief ‘goes shopping’

first_img Share Share 26 Views   no discussions Tweet Sharing is caring!center_img Elijah Tonge, 30, of Savanne Paille was sentenced to four years “hard labour” by Magistrate Bernard Pacquette on Friday after he pleaded guilty to four charges of theft and a malicious damage charge.Tonge, who broke into two schools and a church in Savanne Paille and Portsmouth, said at a Roseau Magistrate’s Court that he was sorry.His ‘shopping spree’ began on August 20 and 21 when he broke into the Savanne Paille primary school and stole electronics worth $6,300.00 including two cell phones, a laptop and an internet modem. He was also charged with maliciously damaging the school’s window.Then on 13th September he broke into the Portsmouth Pentecostal Church and stole a $1, 869.00 Lenovo laptop and a $2, 002.50 Gateway laptop.The experienced thief, as the magistrate referred to him, quickly moved on to steal items from the St John’s Academy at Portsmouth.There he stole items which are used for the school’s fund raising activities and to provide meals to the students on September 13 and 15. He stole box drinks, cushions and other food items.These items have been estimated at a total of $1, 744.50, which brings the grand total of his heists to $11, 916.00.He told the court he was introduced to cocaine at eight years old by his mother and he soon became addicted.Tonge, who said he no longer lives in Savanne Paille but in an abandoned Portsmouth house, finds it difficult to stay away from cocaine.However Magistrate Pacquette informed him that when he is in prison he is off cocaine asking why he cannot remain clean when he is free.“I know I have the strength but the guide I need to stay away from it I don’t have,” he responded.Tonge, who has had previous convictions for theft, was sentenced to one year imprisonment for each break in. Magistrate Pacquette did not impose a separate penalty for the malicious damage charge.Dominica Vibes News LocalNews Savanne Paille thief ‘goes shopping’ by: – September 20, 2013 Sharelast_img read more

Belgium coach Martinez extends contract until 2022

first_imgThe 46-year-old former Everton manager took over as head coach of the Belgian national side in 2016, leading them to third in the 2018 World Cup.The Spaniard’s initial contract ran until Euro 2020, which has been postponed a year because of the coronavirus pandemic.He has overseen the Red Devils in 43 games in total, notching up 34 wins, six draws and just three defeats, leaving Belgium as FIFA’s number one ranked team.Martinez kicked off his coaching career with Swansea in 2007 before moving on to Wigan in 2009, notably winning the 2013 FA Cup against Manchester City but also suffering relegation from the Premier League.He then coached Everton before signing up with Belgium, taking over from Marc Wilmots.last_img read more

Justin Britt injury update: Seahawks center will undergo ACL surgery, Pete Carroll confirms

first_img Matt Ryan injury update: Falcons quarterback (ankle) ruled out vs. Seahawks The Seahawks have been dealt a huge blow to their already shaky offensive line.Center Justin Britt will have to undergo surgery to repair his ACL, coach Pete Carroll confirmed Monday. Pete Carroll confirms Justin Britt needs surgery on injured ACL— Dugar, Michael-Shawn (@MikeDugar) October 28, 2019On Sunday in Atlanta, Britt was quickly ruled out after leaving the first half of the game with a knee injury.  Quarterback Russell Wilson quickly felt Britt’s absence. He was sacked in the third quarter. It was Atlanta’s third sack of the season.Britt, who was selected in the second round of the 2014 draft, has spent all six seasons with the Seahawks. He was able to walk to the locker room on his own after being evaluated in the blue tent. Related News Quandre Diggs ‘was blindsided’ by trade from Lions to Seahawks Will Dissly injury update: Seahawks tight end will miss rest of season, Pete Carroll sayslast_img read more