Category Archives: Economics/Finance

Opinion: It’s Been Six Months Since Biden Took Office. Here’s How He Stands.

Jennifer Rubin | The Washington Post 

President Joe Biden

PRESIDENT BIDEN HAS BEEN IN OFFICE FOR SIX MONTHS. Despite right-wing media’s effort to portray him as a doddering socialist – If he is so feeble, is there really a socialist threat? – his approval ratings remain strong – 58 percent in the most recent CBS/YouGov poll. THERE IS GOOD REASON FOR THE HIGH MARKS. 

Biden has exceeded expectations among progressives, more centrist Democrats and many non-MAGA Republicans on several fronts. Despite the emergence of the delta variant, his management of the vaccination program was commendable and arguably the most “whole of government” response to a crisis outside wartime in decades. We are now mostly down to the willfully unvaccinated. That success in turn has allowed the economy to begin roaring back, albeit with a flash of inflation.          Continue reading

GUYANA: GPL plans US$300 million investment but electricity theft major problem- CEO

The Guyana Power and Light (GPL) plans to invest US$292 million in building a modern transmission and distribution system, and the company is banking on behavioural change to stop losing GYD$4 billion (US$18.6 million) annually to electricity theft, said Chief Executive Officer Bharat Dindyal.

“We have developed a masterplan for transmission and distribution,” he told a webinar organised by the Public Utilities Commission (PUC) on “Energy and Electricity: What we should all know? “. Continue reading

WEATHER: ADAPTING TO CLIMATE CHANGE:  A 3°C World Has No Safe Place 

The extremes of floods and fires are not going away, but adaptation can lessen their impact 

The Economist

In 1745, as the River Liffey, having broken its banks, clawed at the foundations of the house in which he sat, the young Edmund Burke experienced a strange, perverse thrill. The man who would go on to found modern conservatism drew inspiration from this experience in a later essay on the sublime, writing of the unmatched delight that terrible destruction could stir — provided that it is watched from a certain distance.

The most terrible thing about the spectacular scenes of destruction that have played out around the world over the past weeks is that there is no safe place from which to observe them.        Continue reading

WATCH: New Rule: ‘LOSING TO CHINA’ | Real Time with Bill Maher (HBO)

New Rule: Losing to China | Real Time with Bill Maher (HBO)

Bill warns Americans that while they’re busy obsessing over silly culture wars, China is overtaking them on the world stage.

A very sobering message, especially to politicians in Washington. “Real Time” host, Bill Maher, closed his show Friday night by sounding the alarm on China’s growing dominance over the United States. “You’re not going to win the battle for the 21st century if you are a silly people. And Americans are a silly people,” Maher began the monologue, alluding to a “Lawrence of Arabia” quote        Continue reading

GUYANA: Report on QC Alumni Association Oil and Gas Symposium– by Dr. Terrence R. Blackman

By Terrence R. Blackman, Ph.D. – OilNOW – 18 July 2021

On June 09, 2021, ExxonMobil announced newly identified, high-quality hydrocarbon-bearing reservoirs below the original Longtail-1 at Longtail-3 offshore Guyana. The well, located approximately two miles (3.5 kilometers) south of the Longtail-1 well, was drilled in more than 6,100 feet (1860 meters) of water.

This announcement has brought into sharper focus the ideas emerging from the recently concluded Memorial Day Weekend symposium on Navigating the Opportunities and Imperatives in Guyana’s Oil and Gas Economy, presented by the Queen’s College of Guyana Alumni Association, NY Chapter (QCAANY)…Read More

GUYANA: ‘Because we care’ child cash grant – By Mosa Telford

The government of Guyana through the Ministry of Education has begun to distribute the ‘Because We Care’ cash grant to every child in the public school system. Each child will receive a grant of $15,000 and school uniform and supplies grant of $4,000 making it a total of $19,000. The government has promised that within the next five years the grant will be increased to $50,000. Within the next five years $50,000 might be of equal or less value than what $19,000 is now.

Instead of only an annual cash grant to assist parents, ‘Because We Care’ should be about a comprehensive approach to solving the issues that affect Guyanese children. It should be about every Guyanese child having access to the same learning opportunities and a balanced education that would allow them to explore their natural abilities.      Continue reading

VIDEO: Watch “Farrakhan visits Haiti to deliver powerful message!” – in 2011

VIDEO: Watch “Farrakhan visits Haiti to deliver powerful message!” – in 2011

The Honorable Minister Louis Farrakhan visited the island of Haiti in 2011 to deliver a message to the people!

FINANCE: Why China wants to undermine bitcoin – Currency and control – Opinion

Beijing’s crackdown on cryptocurrencies has captured headlines, while behind the scenes its reserve bank set up its own digital currency

Thu 8 Jul 2021 20.38 EDT – THE GUARDIAN. UK

Few would dispute that China’s recent crackdown on cryptocurrency trading and mining has contributed to the recent plunge in the value of bitcoin and other cryptos.

But while the argument rages about whether the volatility of cryptos is a sign of fundamental weakness or merely a bump along the road, the initiatives coming out of Beijing are being seen by experts as a sign of China’s attempts to incubate its own fledgling e-currency and reboot the international financial system.          Continue reading

USA: FOURTH OF JULY: The pandemic will deter few Americans from their typical celebrations

By  James Fransham – Data correspondent – The ECONOMIST

After a gruelling 16 months of pandemic restrictions, for many Americans this weekend’s celebrations of the Fourth of July will be more heartfelt—and poignant—than for many years. President Joe Biden will mark the occasion by hosting thousands of key workers and military folk on the South Lawn of the White House in what is being billed as “independence from the virus”. 

Even so, for a lot of people this July 4th weekend may be much like any other. Our latest weekly poll from YouGov asked Americans whether they plan to celebrate more or less than usual this year. Fully 73% said they will be celebrating about the same as usual; only 8% said more than normal. Around 20% said they would do less than usual. That tallies broadly with our new “normalcy index”, which we launched in this week’s Graphic Detail section. From data on eight areas of life, from flights to movie-going, we find that activity in America is still about 25% below its pre-pandemic norm.          Continue reading

Oil price climbing to a point where Guyana can rake in record revenues

An oil supply shortfall is coming and with OPEC+ expected to provide just a fraction of the demand, barrels from producers outside of the alliance, such as Guyana, would be needed even more. Already, dated Brent has soared past $75 a barrel – a two year high – as inventories continue to fall and demand picks up.

This scenario has seen analysts predict the return of a $100 a barrel oil price which would be the highest since Guyana began producing crude at the Liza Phase 1 Development in December 2019. This would see the Guyana government raking in around US$100 million per oil lift.        Continue reading