Transcranial direction current stimulation may help improve depression symptoms in hard-to-treat cases.ArtemisDiana/ Shutterstock
Up to a third of people diagnosed with depression do not respond to antidepressants or therapy.
In such cases, patients may be prescribed neuromodulation therapy, which modulates brain activity in order to reduce depression symptoms. One promising form of neuromodulation therapy that researchers are investigating is transcranial direction current stimulation (tDCS).
Transcranial direct current stimulation delivers a weak electrical current to the brain through electrodes that are held to the head by a band or strap. This changes the excitability of the brain tissue located beneath the electrodes. Reducing the excitability of overactive areas and increasing the excitability in underactive areas, especially in regions connected to emotion, can help to improve depression symptoms.
TDCS is a safe, effective treatment, which, in some studies, has been shown to help patients achieve remission and stay symptom-free for up to a month. However, previous clinical trials of tDCS have required patients to visit a clinic or hospital in order to receive the treatment, despite the equipment being quite portable.
But a recent randomised controlled trial has now shown that tDCS – which was delivered by the patient in their own home with online virtual support – can lead to significant reductions in depression.
To conduct their study, the researchers recruited 174 patients in the UK and US who had been diagnosed with major depressive disorder. Around 63% of these participants had been classed with having treatment-resistant depression.
Half the participants received an at-home tDCS treatment. This was delivered for 30 minutes a day, five times a week for three weeks to begin with. Then, they dropped down to three sessions per week for seven weeks. Because these sessions were carried out in the patient’s own home with remote support, this meant no doctor or nurse visits were required.
The other half of the patients were in a control group. These participants were given a sham condition, where they wore the electrode strap but did not receive any electrical stimulation.
After the initial ten-week study, patients in the tDCS group were give the option to continue receiving the treatment three times a week. Those in the sham condition were also offered the active protocol.
The at-home treatment was generally well tolerated. There were only a few reports of adverse reactions (mainly linked to irritation around the stimulation site).
Patients in both groups filled out a depression assessment scale at the start and end of the study. This assessment asks patients a series of questions, then provides them a score.
Any score above ten indicates depression. Both the active tDCS and sham groups improved – however the active tDCS group’s scores decreased significantly more, showing an over a two-point decrease in depression scores compared to the control group.
Neuromodulation therapies
This study has found home-based tDCS shows enormous promise as a cost-effective, convenient and safe means of providing treatment to patients with treatment-resistant depression.
This gives it an advantage over other forms of neuromodulation therapy – such as transcranial magnetic stimulation (TMS). TMS modulates brain activity by delivering magnetic pulses via an electromagnetic coil held to the skull.
TMS is shown to be effective 50% of the time for patients with treatment-resistant depression when paired with psychotherapy. But a downside of TMS therapy is that it can only be delivered in a clinic or hospital with patients needing to have 30-minute treatments at least five times a week for up to six weeks for TMS to have any effect.
Transcranial direct current stimulation therapy also has significantly fewer side-effects compared to electroconvulsive therapy (ECT) which also passes an electric current through the brain. ECT is also far more invasive than tDCS as it requires anaesthesia to perform. In contrast, tDCS passes a weak electrical current through two points of contact in the brain.
However, the authors raise an important point relating to the treatment-resistant status of some of the participants.
Patients that had a history of depression and had been resistant to three or more therapies were excluded from the study. This means future studies will need to investigate the threshold of efficacy when it comes to at-home tDCS – and whether it can also work for patients with more severe forms of treatment-resistant depression.
Another factor that will be important for future studies to investigate is whether the patient’s at-home environment and social support network affect the efficacy of the treatment. The next steps for researchers will be to take into account the variability of why depression occurs, how it manifests itself as well as the differences in terms of acceptance and how it’s dealt with.
It will also be important for future studies to account for the physiological differences related to age, sex, ethnicity, socioeconomic status and many other factors that can influence the progression of depression.
Still, this study has shown that at-home tDCS delivery leads to significant improvements in mood for people diagnosed with depression who have failed to respond to other treatments.
Amanda Ellison does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Here they come: an apron and tattoos that make you look like chef Carmy from The Bear, or weird insect-like accessories resembling the infamous Paris Fashion Week bedbugs – new year, new over-the-top inventive Halloween trends. Thanks to the proliferation of social media platforms like TikTok and Instagram, we’re in for a treat for this year’s online Halloween extravaganza.
What used to be a traditional holiday celebrated with reverence by the people remembering the religious meaning of All Hallow’s Eve, or simply an excuse for phantasmagorical parties by those who didn’t, Halloween is now exhibiting a whole new digital layer.
Last year, the hashtag #Halloween was viewed three billion times in a week. We live in a time of “information fatigue”, “information anxiety” or even “infobesity”, as some academics call our oversaturated media environment, with plentiful, often unpleasant stimuli coming from the news and social media.
No one’s 20s and 30s look the same. You might be saving for a mortgage or just struggling to pay rent. You could be swiping dating apps, or trying to understand childcare. No matter your current challenges, our Quarter Life series has articles to share in the group chat, or just to remind you that you’re not alone.
All this badly affects our biological systems, which have not developed as fast as the media environment. As a result, we are overwhelmed, anxious, overstimulated and struggling with processing so much information. It is hard to cut through this noise, whether you’re a journalist, politician, influencer or just someone having fun in a pumpkin latte costume.
In my research on viral journalism, I discovered that even professional communicators struggle to keep up with the changes in social media algorithms and various new functions of these platforms. Many feel discouraged by the non-transparency of social media giants and prefer to rely on classic principles of strong reporting and creative presentation formats. But what are the triggers for media virality for those who still want their posts to explode online?
Not a virus, but a choice
Halloween, like St Valentine’s Day and other annual celebrations, presents a chance to be the new viral sensation, simply because using the hashtag #Halloween instantly grants additional visibility.
Virality stands on two pillars – the opaque algorithms of social networks, and people’s emotional reactions. Unlike viruses, from which the word “viral” originates, virality online is not a malady, but a choice. People instinctively choose content that will satisfy their needs. These can be having something to think about, or a distraction, so we don’t have to think about other things going on in the world.
Engagement with stories online is seldom rational – research has shown that emotions dominate our relationship with news and social media. The feelings of awe, anger and anxiety are the strongest predictors for a post to go viral.
So how, when creating content, do we achieve the coveted reaction of “awe”? This feeling can be described in a variety of ways, from a religious epiphany, to deep appreciation because we’re impressed, to the sense of calm experienced through nature. This is where the theory of memes can help.
Halloween costumes on social media are, essentially, wearable and broadcastable memes. These, as my book Internet Memes and Society explains, are half-baked jokes and weird cryptic artefacts that tempt users to figure out why they are supposed to be funny.
Memes are used as everyday language, political tools, and “fast-food” media. Will a costume based on Only Murders in the Buildings’ Christmas fitness influencer make it to viral stardom? Will it be another take on the brat summer? Or perhaps some twisted commentaries on the cost-of-living crisis?
Theories of humour and Halloween costumes
I predict that virality this season will demand either to go full-on maximalist, or be understated and minimalist. The theories of humour stand on three pillars: humour as release, humour as aggression, and humour as incongruity.
Perhaps we will also see the manifestations of what Plato called comedy as scorn: “Taken generally,” the ancient Greek philosopher mused, “the ridiculous is a certain kind of evil, specifically a vice.” Expect the highest-earning or most influential celebrities to be shoved off their pedestal and roundly mocked in a Halloween costume.
What about incongruity? Some of the more absurd costumes from last year featured a drink coaster and a paper bag, or a man dressed as a ULEZ street camera. These examples generate a reaction of awe, surprise and glee, making the posts worthy of sharing.
And finally, release. Humour is invaluable when it comes to dissipating worries or letting off steam. The recent viral sensation from the music band The Kiffness’ “Eating the cats” ft Donald Trump hilariously reimagined a phrase from the US presidential debate as a soft reggae hit – and a hit it has become, amassing eight million views in a matter of weeks.
This Halloween will surely see a couple of TikTokers dressed as cats, or dogs, or even “a catalogue of other things to eat”. Humour allows us to reveal the ridiculousness of certain political claims, and therefore serves as a soothing tool that unites people and challenges those in power through mockery.
Virality as modern mythology
Virality – memes included – forms the modern mythology. The media informs our collective identities and often the things we think about, which means the themes of this Halloween will most likely reveal what people are scared of as a way to release those fears.
Who will people mock because they feel intimidated by a particular public figure’s power, wealth, talent, influence, looks or profile (aggression). Or who or what do people find awe-inspiring or puzzling this year (incongruity)?
After all, Halloween is the one time of the year that reminds people of the medieval carnivals of the 14th century – the only time jesters and critics could come to the main square and have a go at the king. The digital carnival (as academics like myself sometimes call the digital mockery of the elites) is not limited to a specific time in the year.
The never-ending flow of ridicule, sarcasm and dressing up online never ceases to amaze viral studies academics. But the end of October sees a particular concentration of this subversion, attracting the attention of the digital crowds seeking to laugh at the rich, famous and powerful.
People form and negotiate cultural codes through viral cultures, by choosing what posts to share, like, and comment on. Through these interactions, valuable meanings and identities emerge, and it will be fascinating to see which meanings the collective beehive wants to focus on this Halloween 2024. Whether that’s Carmy Berzatto in his blue apron or the cats and dogs of Springfield.
Anastasia Denisova does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
SINGAPORE, Oct. 30, 2024 (GLOBE NEWSWIRE) — Leading crypto exchange HTX announced a limited-time boost to the interest rates of its Flexible Earn products for 13 major crypto assets starting from October 29, 2024.This latest update, following recent enhancements to the Earn products, is part of HTX’s ongoing effort to expand user earnings opportunities and diversify investment options.
Prioritizing Leading Assets: Up to 700% APY Increase for Flexible Products
This update highlights the profitability boost of 11 popular Proof-of-Stake (PoS) crypto assets, including ETH, TRX, DOT, TON, SOL, ATOM, CSPR, POL, NEAR, ADA, and EOS. Notably, the APY for ETH subscriptions beyond the 0.2 ETH threshold has risen from 1.25% to 3%, while TRX has leapt from a meager 0.5% APY to a lucrative 4% APY for holdings exceeding 3,000 TRX.. The rate for SOL has increased from 1.2% to 6%, and ATOM has jumped from 1.5% to 12%. These adjustments place HTX’s Flexible products for the mainstream assets among the highest rates in the market, even rivaling on-chain staking yields.
Additionally, interest rates for two popular stablecoins, USDT and USDC, have also increased. USDT holdings beyond the 1,000 USDT tier now earn 4% interest per year, up from 2.25%, while the USDC rate has climbed from 1.1% to 4%. This means users can earn higher returns simply by holding their assets, maximizing capital efficiency.
For more details on the new rates, visit HTX Website
Continuous Flexible Product Enhancements Aim to Optimize User Experience
HTX has recently rolled out a series of major enhancements to its Flexible Earn products, designed to strengthen product functionality and elevate the user experience. These enhancements feature hourly interest calculations, instant earnings upon subscription, fast arrival of redeemed assets, and automatic interest reinvestment. Additionally, Flexible products boast robust risk management to ensure asset security, allowing users to deposit and withdraw assets at any time.
As a vital component of exchange services, flexible investment products have long been a focus for HTX. Through product enhancements and interest rate increases, these products have gained market competitiveness. Users can benefit from both stable earnings and the flexibility to shift between trading and yield-earning as desired. Moreover, by directing funds into the Flexible products, users not only benefit from these attractive returns, but also contribute to a more liquid and efficient crypto market, ultimately fueling the industry’s long-term growth.
HTX is dedicated to enhancing its asset growth services and providing users with an ever-expanding range of financial opportunities. Adhering to its user-first philosophy, HTX is set to present continuous product upgrades with innovation, offering users richer investment opportunities to appreciate their support.
About HTX
Founded in 2013, HTX has evolved from a virtual asset exchange into a comprehensive ecosystem of blockchain businesses that span digital asset trading, financial derivatives, research, investments, incubation, and other businesses.
As a world-leading gateway to Web3, we harbor global capabilities that enable us to provide users with safe and reliable services.
Our growth strategy – “Global Expansion, Thriving Ecosystem, Wealth Effect, Security & Compliance”, underpins our commitment to providing quality services and values to virtual asset enthusiasts worldwide.
Disclaimer: This content is provided by HTX. The statements, views and opinions expressed in this column are solely those of the content provider. The information provided in this press release is not a solicitation for investment, nor is it intended as investment advice, financial advice, or trading advice. It is strongly recommended you practice due diligence, including consultation with a professional financial advisor, before investing in or trading cryptocurrency and securities. Please conduct your own research and invest at your own risk.
Photos accompanying this announcement are available at
Source: The Conversation – UK – By Linda Yueh, Fellow in Economics/Adjunct Professor of Economics, University of Oxford
For the first time in 14 years, it was a Labour chancellor who delivered the UK budget. And for the first time ever, that chancellor was a woman. But Rachel Reeves faces an almighty task: plugging a £40 billion spending gap in the knowledge that pre-election promises not to raise the main taxes are still fresh in people’s memories.
Growth was the buzzword of the election campaign – Reeves now had to lay her cards on the table. So here’s what our panel of experts made of the plans:
More challenges for employers and small businesses
Shampa Roy-Mukherjee, Associate Professor in Economics, University of East London
The budget introduces £40 billion in tax hikes and, in some areas, spending cuts that will put pressure on the economy and business in particular. But it also reflects the government’s focus on economic growth, with policies intended to stabilise finances while addressing some of the concerns of small businesses.
The chancellor has retained her commitment to preserve the rates of income tax, employee national insurance and VAT. But a notable change is the increase in employers’ national insurance contributions (NICs) from 13.8% to 15%.
There was also a reduction in the secondary threshold, which is the amount at which the employer starts paying NI on each employee, from £9,100 to £5,000. Altogether this will raise £25 billion annually but will significantly impact many businesses that will now face higher wage bills.
The national living wage is also rising by 6.7% to £12.21 per hour in April 2025, boosting incomes for about three million workers but again increasing costs for many businesses. These rising taxes and wage increases, alongside incoming employment regulations, will strain businesses, particularly in sectors with high labour demands.
To offset some of these pressures, the employment allowance, which allows some smaller employers to reduce their NICs, has been raised from £5,000 to £10,500. The chancellor said that over 1 million employers will not see their NICs bill rise as a result.
Small businesses in retail, hospitality and leisure, where profits have been hit as consumers struggle with the cost of living, will benefit from a 40% business rate relief on properties up to £110,000. Other supportive measures include a continued freeze on fuel duty, which will aid logistics and transport costs. Corporation tax remains fixed at 25%.
Higher wages for three million, but it could cost more to get the bus to work
Rachel Scarfe, Lecturer in Economics, University of Stirling
The biggest change for those on low incomes was an increase in the national minimum wage (for 18 to 20-year-olds) of 16.3%, from £8.60 to £10 an hour, and an increase in the national living wage (for employees aged 21 and over) of 6.7%, from £11.44 to £12.21, from April 2025. This will lead to a pay rise for more than 3 million workers.
Business associations warn that this will cause job losses, particularly in hospitality and the care sector, where many employees earn the minimum wage. But a large body of research has not found a negative effect of minimum wages on employment.
There is some evidence that earlier minimum wage rises caused an increase in the number of zero-hours contracts in social care, as firms tried other ways to reduce wages. However, the new employment rights bill introduced earlier in October would limit the use of zero-hours contracts in this scenario.
The budget could have an indirect effect on pay packets though. The effect of the change to employer NICs will be greater in sectors with more low-paid workers, such as hospitality, and employer associations have warned that it will risk jobs. There is also some evidence that in the long term, firms pass some of these costs on to employees by reducing their wages.
However, the minimum wage increase will reduce the capacity for firms to reduce wages. And any long-term effect would also be offset by lower income taxes that will come after 2028 when the chancellor has said she will increase the threshold at which people starting paying tax.
So if wages and profits fall because of increased contributions, then the amount Reeves raises will be lower than expected, because income and corporation tax receipts will be hit.
Another indirect factor affecting incomes is the cost of getting to work. The fuel duty freeze will continue, but the bus fare cap will increase from £2 to £3. Lower-paid workers and jobseekers are much more likely to use the bus than those with higher incomes, who are more likely to drive, but the cost of bus travel increased much more than the cost of train travel or petrol over the last parliament.
The fare cap reversed some of this increase, and some evidence shows that it led to more people travelling by bus. But the new £3 cap will only last until the end of 2025, which may be too soon to see much effect.
Jonquil Lowe, Senior Lecturer in Economics and Personal Finance, The Open University
As expected, the budget targeted several wealth taxes, including capital gains tax (CGT), which is charged on profits you make when you “dispose of” (sell or give away) an asset. The first slice of such profits (£3,000 in 2024-25) is tax-free. Profit above that is added to your income to determine what rate will apply: a lower rate for profit covered by the basic income tax rate band and a higher rate on anything more.
Reeves announced that CGT rates on financial assets – things like shares – will immediately increase from 10% to 18% (for the lower rate) and from 18% to 24% (for the higher rate). Financial assets account for around 85% of all disposals within the scope of CGT, but only around 350,000 people a year pay the tax.
This brings the rates on financial assets into line with residential property, such as a second home. (There is no CGT when you sell or give away your only or main home.) But this still leaves wealth taxed less heavily than income.
The government says it is committed to tackling the UK’s housing shortage. So to deter multiple home ownership, it has raised stamp duty for people buying a second (or third or fourth) home. Purchases completed will now incur an extra 5% tax (currently 3%) over and above the normal stamp duty rates.
There were also changes to inheritance tax (IHT). Pension savings left unused at death have in recent years been passed on tax free. But from April 2027, the savings will count as part of the estate and be subject to IHT at a rate of up to 40%.
The first slice of the estate a person leaves, called the nil-rate band, is IHT-free, and that band has been frozen at £325,000 since 2010. Reeves extended the freeze until April 2030.
As a result of these changes, the government expects almost 6% of estates to pay IHT this year, up from fewer than 5% in recent years. People in London and the south east are more likely to be IHT-payers, largely due to higher property values in those areas.
A downpayment on growth – but probably not quickly
Linda Yueh, Adjunct Professor of Economics, University of Oxford
The chancellor declared that the government will “invest, invest, invest”. This is an important enabler of economic growth.
But, the country’s creditors need reassuring, so Reeves also announced two new fiscal rules that aim to achieve that balance of allowing the government to borrow to invest (and generate growth), but not to pay for day-to-day spending.
Specifically, the investment rule permits borrowing to invest and the stability rule requires day-to-day spending to be paid for by taxes. Both rules support the government’s growth aims while trying to reassure the country’s creditors that the borrowing will pay off by generating future growth – and also higher tax receipts with which to repay that borrowing.
But spending watchdog the Office for Budget Responsibility (OBR) has downgraded the UK’s GDP growth outlook from 2% to 1.8% in 2026, and to 1.5% in 2027 and 2028. The OBR’s forecast of slower growth highlights the impact of the £40 billion of tax increases, which dampens economic activity.
This underscores the government’s challenge of investing to grow while at the same having to raise taxes to balance the books when it comes to its daily spending. In particular, the OBR’s assessment of slowing growth towards the middle of this parliament raises questions about how long it will take for the investment-fuelled growth to materialise.
It may be that five years is still too short a period. Many physical investments require planning and those reforms could also take a while. Moreover, getting investment projects under way requires scoping, and private investors will want time to assess before joining the government in energy projects.
But this budget is certainly a start on a much-needed growth strategy.
Good news on public investment – emerging industries could benefit
Phil Tomlinson, Professor of Industrial Strategy, University of Bath
The key budget change related to the chancellor’s fiscal rules. By redefining how public debt is calculated, Reeves has been able to increase public investment by around £100 billion. The new fiscal rules have gone not as far as some economists have advocated – but they are a welcome step in the right direction.
Investment was the core focus of the budget. For decades, the UK has suffered from low investment and weak productivity compared to other leading economies. Since 1990, the UK’s investment gap with the average across rich countries in the Organisation for Economic Co-operation and Development (OECD) has been around £35 billion a year – the UK now ranks 28th of 31 OECD countries on business investment. British workers are using outdated kit and so are less productive. This has meant a stagnant economy and lower living standards.
So, the budget’s plans to boost investment in the UK’s crumbling infrastructure and public services and to support the new industrial strategy are a positive move. The latter should see additional funding to support emerging tech industries, such as artificial intelligence, cyber and clean energy. And this public investment should “crowd in” additional private investment.
In the long run, these investments should pay for themselves. For instance, the Office for Budget Responsibility estimates that a sustained increase in public investment of 1% of GDP increases that GDP by 0.5% after five years and more than 2% after ten to 15 years.
The rise in employer national insurance contributions will increase business’s operating costs, especially those in the care and hospitality sectors. But paradoxically, in the long run, it may encourage some businesses (in sectors where it is feasible) to invest in new labour-saving capital equipment.
The NHS gets a cash injection – but it may not go that far
Karen Bloor, Professor of Health Economics and Policy, University of York
Amid all the gloomy pre-budget talk of tough choices and economic problems, would the government’s plans to improve the NHS cheer up the country (England, at least)? Not entirely.
On the plus side, the chancellor promised a generous spending increase of £22.6 billion in the year 2025 to 2026, with £3.1 billion on capital investment. But solving the problems of the NHS is not just about money, and there will be difficult decisions to come.
Meanwhile, increases in employers’ national insurance contributions, while raising funds, will also have a big impact on the NHS, which employs over 1.5 million people. So the additional spending may be less than it appears.
The new government has said it has three main priorities for healthcare in England: moving care from hospitals to the community, moving resources from treatment to prevention, and changing systems from analogue to digital. None of these ideas are new, and there are good reasons why they haven’t happened already.
Expanding primary and community care often does not translate into reduced demand for hospital services – in fact, it can do the opposite, by uncovering previously unmet needs. And successive governments have failed to address long-standing problems in social care, which is crucial to addressing pressures on the NHS. A successful NHS means people living longer, but often with long-term health problems.
Returns on investment in preventing illness can be substantial, but they vary widely, and can be difficult to achieve. This is particularly true when it comes to interventions needing individual behaviour change, such as increasing exercise or cutting down on alcohol. Even when clearly positive, they take a very long time to generate cost savings.
And there are other aspects of the chancellor’s plans which could arguably harm public health. Abolition of winter fuel payments for example, could affect the health of older people on low incomes.
Rising bus fares could affect people’s ability to attend appointments, and the controversial two-child benefit cap, which can affect child health remains in place.
Finally, while technology should improve the efficiency of services, people need care from people. Capital investment – in scanners, radiotherapy machines and diagnostics – will need to be matched by the cost of the professionals who operate them and interpret their findings.
Karen Bloor receives funding from the NIHR policy research programme to conduct responsive analysis for the Department of Health and Social Care,
Phil Tomlinson receives funding from the Engineering and Physical Sciences Research Council (EPSRC) for Made Smarter Innovation: Centre for People-Led Digitalisation.
Rachel Scarfe is a member of the Labour Party.
Jonquil Lowe, Linda Yueh, and Shampa Roy-Mukherjee do not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.
Source: The Conversation – UK – By Larisa Yarovaya, Director of the Centre for Digital Finance, Associate Professor in Finance, University of Southampton
Crypto traders are waiting anxiously to see whether it will be the Republican presidential candidate, Donald Trump, or his Democratic rival, Kamala Harris, who will be sitting in the White House come January 2025.
Harris leads Trump by a slender margin in the national polling averages, but some betting markets have Trump as the favourite to win. According to election gambling site Polymarket, the chance of Trump winning the election is 67% at the time of writing.
These odds will certainly be welcomed by cryptocurrency investors. Trump has previously shown support for crypto, most notably at a Bitcoin conference in Nashville in July, where he vowed to turn the US into the “crypto capital of the planet and the Bitcoin superpower of the world”.
Indeed, Bitcoin’s price approached a three-month high in October in anticipation of a Trump victory. And cryptocurrency investors believe Bitcoin’s price could surge again, reaching a new high if Trump wins.
It may well be an opportune moment to invest in crypto. But cryptocurrency markets are notorious for their volatility and are prone to several behavioural anomalies that any prospective investor should be aware of.
1. Momentum and reversal effects
Buying crypto stocks that have recently performed well and short selling (selling shares that are falling in value, and then buying them back later at a reduced price) those that have performed poorly is often considered a potentially profitable strategy.
When buying high-performing stocks, investors anticipate that the positive trend will continue, leading to further price increases. And, in the same vein, investors expect prices to continue declining when short selling those that are performing badly. In crypto circles, as well as in finance more generally, this is called the momentum effect.
However, finance theories suggest that the complete opposite strategy can, in some instances, yield even better returns. Stocks that are performing well could also be seen as close to exhausting their growth potential, suggesting that a decline is likely to follow.
So, some investors may instead buy poorly performing stocks in the expectation that their price will rebound. This strategy, which is called the reversal effect, aims to generate substantial profits as the market corrects itself.
By targeting poorly performing cryptocurrencies, large investors in particular can help increase liquidity for these assets. Liquidity can be measured simply by trading volume – the more active traders there are in the market, the easier it is to buy or sell the asset. This should enable greater growth potential.
Bitcoin is performing well in anticipation of a Trump victory. But amateur investors should be aware that larger institutional investors may employ different tactics. It is also important to consider that even robust-looking trends can be reversed at any moment.
2. Salience and recency biases
Events like a US presidential election attract the attention of investors, partly due to something called salience bias. Various studies suggest that crypto investors, in particular, tend to focus on a prominent event or a piece of information that is emotionally striking.
Rational investment decisions should be based on a balanced assessment of the risk and return of investment assets. But, during an election, crypto investors’ attention is likely to be narrowly focused on polling data or media coverage of the candidates.
For newer and less mature markets like cryptocurrency, a reliance on easily accessible information is more common than conducting sophisticated analysis of the underlying financial metrics or economic indicators (fundamentals). This is risky, as all other less prominent yet important information can be easily ignored.
The history of cryptocurrency shows numerous collapses, demonstrating the vulnerability of cryptocurrency as an asset class. In November 2022, for example, the collapse of FTX, a leading crypto exchange, triggered a major collapse across the entire crypto market. This included a significant decline in Bitcoin’s price.
Cryptocurrency markets are subject to significant speculation. Investors hope for big wins, even if the chances are slim. Similar to buying a lottery ticket, investors may buy assets driven by the illusion of lucrative future profits.
This is, of course, also true for some investments in traditional markets. But stories of Bitcoin millionaires and how they quickly made their fortunes create the illusion of the possibility of becoming rich quickly.
Such successes are not necessarily replicable in current market conditions. Regardless of the election outcome, cryptocurrency markets will remain highly volatile, speculative and risky. Just because some people win the lottery does not mean that you will.
4. Anchoring effect
Another behavioural anomaly typical of cryptocurrency markets is the anchoring effect. This is where investors accept and cling to the “anchor” of the first piece of information they receive. For example, if they read an article stating that Bitcoin’s price will rocket after Trump’s victory, they will hold on to this idea regardless of what other sources or information may suggest.
This is, again, because the analysis of fundamentals in crypto markets is very challenging. Unlike traditional stocks, which can be evaluated based on factors such as earnings reports and revenue growth, cryptocurrencies often lack similar financial metrics. Hence, crypto investors are particularly susceptible to believing in discussions in the media and various online forums.
There have been no details on how Trump’s promise to make the US the Bitcoin superpower of the world will be delivered. However, it would be hard for crypto investors to change their minds if they are already anchored to this idea.
Investing is not gambling. Even if you think your decision is entirely rational, it is essential to triple check to ensure you are not subject to any of the aforementioned behavioural biases. You’ll probably be subject to all of them, as will any other human being.
Larisa Yarovaya is affiliated with the British Blockchain Association.
Source: The Conversation – Canada – By Charles Z. Levkoe, Canada Research Chair in Equitable and Sustainable Food Systems, Lakehead University
For more than a year, the Israeli state has been engaged in a massive incursion into Gaza following the October 2023 Hamas attack against Israel.
In March 2024, Francesca Albanese, the United Nations Special Rapporteur on the situation of human rights in the Occupied Palestinian Territories, announced: “There are reasonable grounds to believe that the threshold indicating the commission of the crime of genocide…has been met.”
We have come together as a group of critical food systems scholars to examine the parallels between the weaponization of food in Gaza and Canada to bring about the systematic destruction of Indigenous Peoples. But we’ve also observed that food has been a powerful tool of resistance and resurgence.
The Scream, by Kent Monkman (2016), was part of a travelling exhibition in 2017 on colonized Canada entitled ‘Shame And Prejudice: A Story Of Resilience.’ (Courtesy of Kent Monkman)
Israel targets food infrastructure
In the occupied Palestinian territories, Israeli control over land and resources reflects a similar colonial dynamic. Laws like the Absentee Property Law of 1950 facilitated the expropriation of Palestinian land.
Tanks and trucks have decimated orchards, field crops and olive groves.
An estimated 800,000 tonnes of asbestos among the debris of destroyed buildings will result in asbestos-related diseases for generations to come. Under the Geneva Conventions, destruction of civilians’ means of survival and starvation as a tool of warfare is strictly prohibited.
Similarly, Indigenous nations and communities across Canada have used food as a form of resurgence. Alongside land back movements, efforts to revitalize Indigenous food systems — such as hunting, fishing, growing and gathering — are central to movements for Indigenous sovereignty.
Learning about and enacting traditional food practices are important acts of resistance, as these practices sustain communities, strengthen connections to land and assert rights over the unceded territories Indigenous Peoples are fighting to reclaim. By reclaiming and rebuilding their land and food systems on their own terms, they continue to challenge colonial structures.
Food, colonialism and resistance
The destruction of food systems in Gaza and Canada is part of a larger effort of land dispossession and capitalist accumulation. By severing Indigenous Peoples’ connection to their food systems, settlers and colonial regimes have sought to control not only the land but also the people who depend on it.
Yet, through food sovereignty movements, these same populations are reclaiming their right to self-determination and building global networks of solidarity.
The struggle for food sovereignty is inseparable from broader struggles for land, justice and self-determination.
Connecting the dots between the Palestinian territories and Canada provides powerful examples of global colonial relations and struggles for justice and self-determination. It challenges us to critically examine the role of food in these struggles and demand government accountability.
We wish to acknowledge Mustafa Koç, professor emeritus at Toronto Metropolitan University, as a co-author and to thank Max Ajl, Yafa Al Masri and Justin Podur for contributions to this article.
Charles Z. Levkoe receives funding from the Social Sciences and Humanities Research Council of Canada and the the Government of Ontario.
Sarah Rotz receives funding from the Social Sciences and Humanities Research Council of Canada.
Tammara Soma receives funding from the Social Sciences and Humanities Research Council of Canada.
Martha Stiegman does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: US Department of Health and Human Services – 3
Department of Justice U.S. Attorney’s Office District of Massachusetts
FOR IMMEDIATE RELEASE Wednesday, October 30, 2024
Two individuals also pleaded guilty to misbranding N95 masks and conspiracy to commit price gouging
BOSTON – A Florida company, and two individuals associated with the company, have pleaded guilty to charges associated with shipping facemasks that were misbranded as N95 respirators, and price gouging hospitals, during the earliest phase of the COVID-19 pandemic.
JDM Supply LLC (JDM) pleaded guilty to one count of conspiracy to introduce misbranded devices into interstate commerce with intent to defraud or mislead, in violation of the Federal Food, Drug and Cosmetic Act. Daniel Motha, 40, of Miami, Fla., and Jeffrey Motha, 36, of Norfolk, Mass., also pleaded guilty to one count of introduction of misbranded devices into interstate commerce and one count of conspiracy to commit price gouging in violation of the Defense Production Act. U.S. District Court Judge Myong J. Joun scheduled sentencing for Daniel Motha and Jeffrey Motha on March 4, 2025 and JDM on March 25, 2025. In August 2023, a third individual, Jason Colantuoni of Norfolk, Mass, pleaded guilty to conspiracy to commit price gouging in connection with this investigation.
In the spring of 2020, during the earliest phase of the COVID-19 pandemic, JDM and a company identified as “Company 1” conspired to ship facemasks that were misbranded as National Institute of Occupational Safety and Health (NIOSH)-approved, N95 respirators. One hospital accepted and paid for hundreds of thousands of purported N95 masks that were manufactured by Company 1 and sold by JDM. Ultimately, the hospital did not use the masks, which were eventually returned to Company 1. JDM misled the hospital into believing that the Company 1 masks were NIOSH-approved N95s, when in fact they were not.
In August 2020, a NIOSH lab tested a sample of the Company 1 masks that had been shipped to the hospital. The masks tested between 83.94% and 93.24% filtration efficiency, thus falling below the 95% minimum level of filtration efficiency required for N95 respirators.
Daniel Motha and Jeff Motha conspired to use JDM to exploit and profit off of the critical need of hospitals and healthcare workers for scarce N95 masks during the COVID-19 pandemic. They accumulated N95 masks from various sources and then sold the N95 masks through JDM to hospitals in Massachusetts, and elsewhere, at prices in excess of the prevailing market price.
The charge of conspiracy to introduce or deliver for introduction into interstate commerce a misbranded device with intent to defraud or mislead, brought against JDM, provides for a fine of $500,000 or twice the pecuniary gain or loss of the offense, whichever is greater and up to five years of probation. The charge of introduction or delivery for introduction into interstate commerce a misbranded device provides for a sentence of up to one year in prison; up to one year of supervised release; and a fine of $100,000. The charge of conspiracy to commit price gouging in violation of the Defense Production Act provides for a sentence of up to one year in prison; up to one year of supervised release; and a fine of up to $10,000. Sentences are imposed by a federal judge based upon the U.S. Sentencing Guidelines and statutes which govern the determination of a sentence in a criminal case.
Acting United States Attorney Joshua S. Levy; Ketty Larco-Ward, Inspector in Charge of the U.S. Postal Inspection Service, Boston Division; Fernando McMillan, Special Agent in Charge of the Food and Drug Administration, Office of Criminal Investigations; Christopher Algieri, Special Agent in Charge of the U.S. Department of Veterans Affairs Office of Inspector General, Northeast Field Office; Jodi Cohen, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division; and Michael J. Krol, Acting Special Agent in Charge of Homeland Security Investigations in New England made the announcement today. Assistant U.S. Attorneys Bill Brady and Howard Locker of the Health Care Fraud Unit are prosecuting the case.
On May 17, 2021, the Attorney General established the COVID-19 Fraud Enforcement Task Force to marshal the resources of the Department of Justice in partnership with agencies across government to enhance efforts to combat and prevent pandemic-related fraud. The Task Force bolsters efforts to investigate and prosecute the most culpable domestic and international criminal actors and assists agencies tasked with administering relief programs to prevent fraud by augmenting and incorporating existing coordination mechanisms, identifying resources and techniques to uncover fraudulent actors and their schemes, and sharing and harnessing information and insights gained from prior enforcement efforts. For more information on the department’s response to the pandemic, please visit https://www.justice.gov/coronavirus and https://www.justice.gov/coronavirus/combatingfraud.
Anyone with information about allegations of attempted fraud involving COVID-19 can report it by calling the Department of Justice’s National Center for Disaster Fraud Hotline via the NCDF Web Complaint Form.
NEW YORK – New York Attorney General Letitia James today led a coalition of 15 attorneys general urging Congressional leaders to support a ban on price gouging at the national level. While over 40 states ban price gouging, there is no federal law preventing businesses from raising prices to increase their profits on essential goods during an emergency. In a letter to Congressional leaders, Attorney General James and the coalition argued that a national ban on price gouging would give the federal government the power to crack down on price gouging that cannot be stopped by a single state, and allow states and the federal government to work together to stop illegal price gouging in national supply chains.
“Businesses should never be able to hike prices during an emergency just to increase their profits,” said Attorney General James. “When companies take advantage of major disruptions and raise prices of food and supplies that New Yorkers rely on, my office holds them accountable, getting people their money back and protecting their wallets. Our federal government should have the same power to protect Americans when disaster strikes and stop price gouging at the national level that threatens both hardworking families and small businesses.”
Bans on price gouging let businesses raise prices to cover costs but prevent them from raising prices further solely to increase their profits during an emergency. Attorney General James and the coalition argue in their letter that prohibiting price gouging benefits both consumers and businesses. First, it encourages much-needed production at critical times by only allowing businesses to make more money by selling more products, instead of by raising prices. Second, it prevents businesses from risking long-term harm and reputational damage by overreacting in an emergency and setting prices too high. Third, it discourages hoarding in an emergency, since rising prices can prompt customers to over-buy. Fourth, price gouging bans protect consumers from monopolists who can raise prices without worrying about consumers’ reactions or being undercut by a competitor.
The COVID-19 pandemic and the onset of war in Ukraine disrupted supply chains at the national level, creating opportunities for price gouging that were sometimes out of reach from individual states. Attorney General James and the coalition argue in their letter that a federal ban would complement states’ anti-price gouging measures to help stop price gouging at the national level.
As Attorney General James and the coalition note, attorneys general have successfully stopped price gouging at the state level, demonstrating a clear need for national enforcement to complement these efforts. In New York, Attorney General James has secured decisive settlements with companies for illegally raising prices during emergencies, including the COVID-19 pandemic. In March and April 2024, Attorney General James distributed over 9,500 cans of baby formula in Buffalo and New York City as part of a settlement with Walgreens for illegally raising prices of baby formula during the 2022 shortage. In May 2023, Attorney General James recovered $100,000 from Quality King for price gouging Lysol products at the beginning of the COVID-19 pandemic. In April 2021, Attorney General James secured 1.2 million eggs for New Yorkers from Hillandale Farms Corporation as part of a settlement resolving a lawsuit brought by the Office of the Attorney General (OAG) in August 2020 for illegally gouging egg prices in the early months of the pandemic.
In March 2023, Attorney General James proposed new rules to protect consumers and small businesses by making it easier for OAG to investigate and combat price gouging. Throughout the pandemic, during major disruptions, and ahead of recent declared disasters, Attorney General James has issued consumer warnings against price gouging on essential supplies.
Joining Attorney General James in sending the letter to Congress are the attorneys general of California, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Michigan, New Jersey, New Mexico, Oregon, Pennsylvania, Vermont, and the District of Columbia.
Governor Kathy Hochul today celebrated the completion of Sunset Ridge, an 84-unit, affordable housing development for seniors and older adults in Sunset Park, Brooklyn. The energy-efficient development, which also houses a new education space, will preserve historic decorative elements from a church that used to be on the site and is the first affordable older adult housing built in Sunset Park in over 15 years.
“Sunset Ridge is the embodiment of a multi-generational and community-centered development — one that incorporates the neighborhood’s history with the need for growth and sustainability,” Governor Hochul said. “By investing in new mixed-use projects, we are unlocking a future that is more affordable and more livable, opening up new opportunities for communities to thrive.”
The entire $65 million development is reserved for persons aged 62 and older earning up to 50 percent of the Area Median Income. All units are supported by project-based vouchers, ensuring tenants pay no more than 30 percent of their income on rent. Reflecting a strong commitment to address housing insecurity among the city’s most vulnerable, 26 apartments are set aside for formerly homeless seniors who will receive social services including emergency assistance, recreational activities, case management, wellness support and benefits assistance.
The ground floor and first floor of the new building includes a community facility space for five pre-kindergarten classrooms that will be constructed by the New York City Schools Construction Authority starting in 2025, enhancing access to early childhood education for local families.
New York State Homes and Community Renewal Commissioner RuthAnne Visnauskas said, “Sunset Ridge is giving 84 senior households affordable and modern homes where they can age in place, while also prioritizing the needs of families with a new education space. This $65 million investment will help residents decrease their carbon footprint and provide support for tenants who need it most. We are grateful to Governor Hochul for her vision, as well as to Commissioner Carrion and all our partners for bringing this project to fruition.”
The project included the demolition of the Zion Lutheran Church and the construction of a new nine-story building, as well as the complete rehabilitation of two pre-existing townhouses which were combined into one building. Decorative elements of the original church were preserved and reused within the new building.
Both buildings feature energy-efficiency measures including all-electric heating and cooking. Additionally, a 19.8kW solar array was installed on the roof, underscoring the project’s commitment to sustainability.
In the past five years, New York State Homes and Community Renewal has created or preserved nearly 7,700 affordable homes in Brooklyn. Sunset Ridge continues this effort and complements Governor Hochul’s $25 billion five-year Housing Plan which is on track to create or preserve 100,000 affordable homes statewide.
Fifth Avenue Committee, a nonprofit comprehensive community development corporation, is the project sponsor, developer and manager. Bay Ridge Center provides on-site social services to the formerly homeless tenants. Metropolitan New York Synod is the owner of the Community Facility on the ground floor and first floor.
Sunset Ridge is supported by HCR’s Federal Low-Income Housing Tax Credit program that generated approximately $18.3 million in equity and its State Low-Income Housing Tax Credit program that generated approximately $3.4 million in equity. All of the units benefit from a project-based Section 8 rental assistance vouchers. The New York State Energy Research and Development Authority provided more than $100,000 in funding with $31,700 in tax incentives through NY-Sun, along with $73,600 in combined incentives through the Low-Rise New Construction and the Multifamily New Construction programs. The New York City Department of Housing Preservation and Development provided $11.7 million through its Senior Affordable Rental Apartments program and $1.3 million in accrued interest. The project also received a $6 million discretionary capital grant from the Brooklyn Borough President in Fiscal Year 2017 and Fiscal Year 2020 administered by HPD.
The project was guaranteed by Fifth Avenue Committee and Moodna Creek, LLC. Chase Community Development Banking provided a $28 million construction loan. Tax credit syndicator Hudson Housing Capital and the Tax Oriented Investments unit of J.P. Morgan invested $23 million in tax credit equity to support the development. Freddie Mac through Greystone provided $15 million in permanent loan financing.
NYSERDA President and CEO Doreen M. Harris said, “Sunset Ridge shows how sustainable new construction practices and retrofitting existing structures can uplift historically underserved communities by providing affordable, healthy and comfortable housing and community spaces. This all-electric, multi-use development powered by rooftop solar will ensure New Yorkers living in Sunset Park benefit from clean energy while advancing Governor Hochul’s commitment to tackling the housing shortage.
Senate Majority Leader Charles Schumer said, “Everyone deserves a safe and affordable place to call home. I’m proud that the federal Low-Income Housing Tax Credit and project-based Section 8 rental assistance vouchers that I worked hard to protect and expand has delivered millions to help build senior housing in Sunset Park, which will provide more seniors with an affordable, supportive and energy-efficient place to live. I applaud Governor Hochul’s efforts to create and preserve affordable homes across the state, and I will continue working to deliver the federal resources needed for more affordable homes in Brooklyn.”
New York City Schools Construction Authority President and CEO Nina Kubotasaid, “The SCA is excited to partner with the Fifth Avenue Committee, HCR, HPD, and Metropolitan New York Synod to leverage this high-quality opportunity to provide access to early childhood education for Sunset Park and Bay Ridge parents. We will begin work on this 13,314 square foot pre-kindergarten facility in early 2025 that will bring 90 new seats and an exterior play yard to this community. Thinking outside of the box by maximizing space in multi-use sites is part of the strategy we have been deploying to expand early childhood education throughout the City. Access to pre-k improves cognitive and social development, reduces achievement gaps, and supports working parents, providing them with affordable, reliable childcare. Today is a day to celebrate this truly unique partnership.”
Representative Dan Goldman said, “As housing costs in New York City rise to unprecedented levels, our seniors have been left behind. The Fifth Avenue Committee’s new affordable housing complex in Sunset Park is a crucial step toward providing our older New Yorkers with the homes they deserve, and I applaud the city, state, and Fifth Avenue Committee for ensuring that this vital project is completed. I look forward to continuing to work alongside FAC to ensure every New Yorker can access high-quality, stable, and affordable housing.”
State Senator Andrew Gounardessaid, “If we want Brooklyn to be a place where everyone can succeed, we need to create resources for everyone from young children to seniors. The Sunset Ridge development is exactly the kind of resource our communities need: affordable housing for seniors along with universal pre-k classrooms so families can more easily access childcare and education. Thank you to Fifth Avenue Committee for taking the opportunity to support working families and a thriving future for all Brooklynites.”
Assemblymember Marcela Mitaynessaid, “Fifth Avenue Committee and its partners have brought much-needed affordable senior housing to Sunset Park. Sunset Ridge is an example of how the intentional construction of housing can address the gaps that exist in New York State communities. AD51 needs more affordable units in environmentally friendly and community-oriented buildings under strong tenant protections.”
Brooklyn Borough President Antonio Reynoso said, “As we work to address housing insecurity in Brooklyn, it is critical that we consider the particular vulnerabilities faced by older adults in our community. Sunset Ridge confronts this disparity directly, and by combining affordable senior housing with universal pre-k, the project creates an intergenerational community resource and gathering place. I applaud NYS Homes and Community Renewal and NYC Department of Housing Preservation and Development as well as the Fifth Avenue Committee for investing in the well-being of both the oldest and youngest members of the Sunset Park community, and I look forward to seeing residents and students thrive in their new space.”
New York City Councilmember Alexa Avilessaid, “I applaud the Fifth Avenue Committee for bringing to fruition Sunset Ridge Apartments, a development that will deliver truly affordable housing for our older adults. Housing insecurity is the number one issue in my office with frequent visits from so many older adults who are facing displacement as a result of gentrification and unscrupulous landlords. Today however, we celebrate a move towards solutions, and am proud to have played a role in bringing this much needed housing to our community. I thank Fifth Avenue Committee under the leadership of Michelle de la Uz for their work in providing affordable housing to our district seniors.”
Fifth Avenue Committee Executive Director Michelle de la Uz said, “FAC is thrilled to be cutting the ribbon at Sunset Ridge, the first new affordable housing for seniors in the community in over 15 years and FAC’s 2nd new affordable housing project in Sunset Park to be completed in 2 years. Access to quality, affordable housing is crucial to our health and well-being, especially as we age. The project is especially gratifying because it will also have 90-Universal Pre-K seats in the future, representing an important intergenerational resource for the local community. We broke ground on the project just before the pandemic hit, so we never celebrated its start, making today’s ribbon cutting with our project partners and tenants all the more meaningful. On behalf of our tenants and the local community, thank you to the Metropolitan New York Synod, NYS HCR and NYC HPD and everyone who helped make this critical project possible.”
Bay Ridge Center Executive Director Todd Fliedner said, “At Bay Ridge Center, we are dedicated to enhancing the lives of adults 60 and older in our vibrant community, through a variety of enriching programs and essential services, we strive to support our members in living active fulfilling lives.”
Chase Community Development BankingHead of East Region Dave Walsh said, “We are proud to support the redevelopment of Sunset Ridge, a project delivering essential affordable senior housing in Brooklyn. Providing housing with essential services not only fosters a sense of belonging but is vital to ensure our most vulnerable senior residents have the resources they need to flourish.”
Hudson Housing Capital Managing Director Sam Ganeshan said, “Hudson Housing Capital is proud to partner with Fifth Avenue Committee to finance high-quality, affordable housing for seniors at Sunset Ridge. This property will provide some of the City’s most vulnerable residents with a safe place to live independently and age in-place. We thank and commend all those involved in making this day possible, including our investor J.P. Morgan, and look forward to seeing this impactful housing development thrive for many years to come.”
Governor Hochul’s Housing Agenda
Governor Hochul is committed to addressing New York’s housing crisis and making the State more affordable and more livable for all New Yorkers. As part of the FY25 Enacted Budget, the Governor secured a landmark agreement to increase New York’s housing supply through new tax incentives for Upstate communities, new incentives and relief from certain state-imposed restrictions to create more housing in New York City, a $500 million capital fund to build up to 15,000 new homes on state-owned property, an additional $600 million in funding to support a variety of housing developments statewide and new protections for renters and homeowners. In addition, as part of the FY23 Enacted Budget, the Governor announced a five-year, $25 billion Housing Plan to create or preserve 100,000 affordable homes statewide, including 10,000 with support services for vulnerable populations, plus the electrification of an additional 50,000 homes. More than 45,000 homes have been created or preserved to date.
The FY25 Enacted Budget also strengthened the Pro-Housing Community Program which the Governor launched in 2023. Pro Housing Certification is now a requirement for localities to access up to $650 million in discretionary funding. To date, more than 160 communities have been certified, including the City of New York.
What’s most important now is not being first but rather being right. In recent decades, Americans have gotten used to media organizations declaring the winners of races in the hours or days after the polls close, but those are not official results. They are projections based on the available unofficial information. The formal results of the election are checked and certified through a process that takes weeks to months – and potentially longer, if lawsuits are filed.
A wrong call could spark violence, particularly because Donald Trump has yet to say that he will accept the results of the 2024 election if he loses.
Media figures and election officials are preparing Americans for the fact that we might have to wait some time to get an accurate call. As in 2020, they’re using metaphor to shape public expectations. But this year, they’re also explicitly trying to define the nation’s perceptions of time, in terms of which results count as on time or as delayed.
A metaphor is a linguistic device that describes something in terms of something else, usually to highlight an important idea. If we see a football team as the Bears, we know they’re not literally animals, but they are ferocious. As a scholar of presidential rhetoric and political campaigns, I know it’s important to notice metaphors because they often shape public perceptions.
As members of the media prepare themselves and the public for an uncertain election night, they’re worried that Americans will be misled by false or incomplete information in the early returns. Fredreka Schouten and Sara Murray of CNN Politics write, “Election officials worry that delays in counting could give the public a false sense of who’s winning the election.” The Republican Pennsylvania secretary of state adds, “It’s obviously a concern.” And so, as they did in 2020, they’re again using the metaphor of “mirage.”
A mirage is an optical illusion, something that looks real but is not. Old adventure movies would show a mirage of water in a desert. Lost explorers with empty canteens would run excitedly toward a sparkling oasis, only to find nothing but sand.
In 2020, no one was quite sure whether the early results would show a red or a blue mirage and so they suggested it could vary by state. For example, some states, such as Florida and Arizona, counted mail ballots as they arrived, even before Election Day. In those states, Vox reported, the early “results might look overwhelmingly favorable to Joe Biden and other Democratic candidates.”
In 2024, the overwhelming expectation is that early returns in this year’s key states will look better for Republicans. Reporter Nick Corasaniti of The New York Times wrote that “Democratic operatives” have come to expect “‘the red mirage,’ the result of far more Democrats than Republicans opting to vote by mail, leading to Democratic votes being counted later.” The editorial board of The Washington Post fretted in September 2024 that Trump “used this so-called red mirage in 2020 to declare victory and insist that the counting stop.” The implication was clear: a fear he might do so again.
People tend to see what they want to see. Those lost explorers want and need water, much as Trump yearns for victory. And mirages are partly self-deception. Partisans want that beautiful picture of triumph, blue or red seas cascading across screens on election night. These feelings explain why the mirage metaphor works well for the media: It signals that campaigns and the public see what they hope for, not what’s there. Wait, the metaphor tells us. Wait until we know it’s real.
To make the waiting easier, the media has also explicitly tried to shape the public’s perceptions of time. This is not a new idea: The ancient Greeks used the term “kairos” to talk about timing in public speech – when we should speak, how we define time in that speech, and what sorts of times we live in.
For example, an NBC report catalogs changes various states have made since 2020 to speed up the counting, but nonetheless notes “in the event of a close race, a handful of key battleground states could keep Americans waiting well beyond Election Day.” In early October 2024, Arizona’s secretary of state told a group at Harvard the results would take “thirteen days and we’re not doing it any sooner because we’re going to get it right.”
At that same Harvard meeting, Pennsylvania Secretary of State Al Schmidt disputed the concept that taking time to count votes constituted a “delay.”
“It’s not a delay at all. It takes time to count millions of votes, with integrity, especially when you can only start at 7 a.m. on election morning,” Schmidt said.
Taken together, the two persuasive strategies urge patience. A mirage will appear, but it is false, alluring and dangerous. It does not reflect reality. Reality will come in time, the proper time, in its season. This isn’t a delay, because it takes time to get things right. This election poses enough dangers, these officials and the media believe. All Americans need to take – or give – the time to get the count right.
Some of the material in this article was previously published on Nov. 3, 2020.
John M. Murphy does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Here they come: an apron and tattoos that make you look like chef Carmy from The Bear, or weird insect-like accessories resembling the infamous Paris Fashion Week bedbugs – new year, new over-the-top inventive Halloween trends. Thanks to the proliferation of social media platforms like TikTok and Instagram, we’re in for a treat for this year’s online Halloween extravaganza.
What used to be a traditional holiday celebrated with reverence by the people remembering the religious meaning of All Hallow’s Eve, or simply an excuse for phantasmagorical parties by those who didn’t, Halloween is now exhibiting a whole new digital layer.
Last year, the hashtag #Halloween was viewed three billion times in a week. We live in a time of “information fatigue”, “information anxiety” or even “infobesity”, as some academics call our oversaturated media environment, with plentiful, often unpleasant stimuli coming from the news and social media.
No one’s 20s and 30s look the same. You might be saving for a mortgage or just struggling to pay rent. You could be swiping dating apps, or trying to understand childcare. No matter your current challenges, our Quarter Life series has articles to share in the group chat, or just to remind you that you’re not alone.
All this badly affects our biological systems, which have not developed as fast as the media environment. As a result, we are overwhelmed, anxious, overstimulated and struggling with processing so much information. It is hard to cut through this noise, whether you’re a journalist, politician, influencer or just someone having fun in a pumpkin latte costume.
In my research on viral journalism, I discovered that even professional communicators struggle to keep up with the changes in social media algorithms and various new functions of these platforms. Many feel discouraged by the non-transparency of social media giants and prefer to rely on classic principles of strong reporting and creative presentation formats. But what are the triggers for media virality for those who still want their posts to explode online?
Not a virus, but a choice
Halloween, like St Valentine’s Day and other annual celebrations, presents a chance to be the new viral sensation, simply because using the hashtag #Halloween instantly grants additional visibility.
Virality stands on two pillars – the opaque algorithms of social networks, and people’s emotional reactions. Unlike viruses, from which the word “viral” originates, virality online is not a malady, but a choice. People instinctively choose content that will satisfy their needs. These can be having something to think about, or a distraction, so we don’t have to think about other things going on in the world.
Engagement with stories online is seldom rational – research has shown that emotions dominate our relationship with news and social media. The feelings of awe, anger and anxiety are the strongest predictors for a post to go viral.
So how, when creating content, do we achieve the coveted reaction of “awe”? This feeling can be described in a variety of ways, from a religious epiphany, to deep appreciation because we’re impressed, to the sense of calm experienced through nature. This is where the theory of memes can help.
Halloween costumes on social media are, essentially, wearable and broadcastable memes. These, as my book Internet Memes and Society explains, are half-baked jokes and weird cryptic artefacts that tempt users to figure out why they are supposed to be funny.
Memes are used as everyday language, political tools, and “fast-food” media. Will a costume based on Only Murders in the Buildings’ Christmas fitness influencer make it to viral stardom? Will it be another take on the brat summer? Or perhaps some twisted commentaries on the cost-of-living crisis?
Theories of humour and Halloween costumes
I predict that virality this season will demand either to go full-on maximalist, or be understated and minimalist. The theories of humour stand on three pillars: humour as release, humour as aggression, and humour as incongruity.
Perhaps we will also see the manifestations of what Plato called comedy as scorn: “Taken generally,” the ancient Greek philosopher mused, “the ridiculous is a certain kind of evil, specifically a vice.” Expect the highest-earning or most influential celebrities to be shoved off their pedestal and roundly mocked in a Halloween costume.
What about incongruity? Some of the more absurd costumes from last year featured a drink coaster and a paper bag, or a man dressed as a ULEZ street camera. These examples generate a reaction of awe, surprise and glee, making the posts worthy of sharing.
And finally, release. Humour is invaluable when it comes to dissipating worries or letting off steam. The recent viral sensation from the music band The Kiffness’ “Eating the cats” ft Donald Trump hilariously reimagined a phrase from the US presidential debate as a soft reggae hit – and a hit it has become, amassing eight million views in a matter of weeks.
This Halloween will surely see a couple of TikTokers dressed as cats, or dogs, or even “a catalogue of other things to eat”. Humour allows us to reveal the ridiculousness of certain political claims, and therefore serves as a soothing tool that unites people and challenges those in power through mockery.
Virality as modern mythology
Virality – memes included – forms the modern mythology. The media informs our collective identities and often the things we think about, which means the themes of this Halloween will most likely reveal what people are scared of as a way to release those fears.
Who will people mock because they feel intimidated by a particular public figure’s power, wealth, talent, influence, looks or profile (aggression). Or who or what do people find awe-inspiring or puzzling this year (incongruity)?
After all, Halloween is the one time of the year that reminds people of the medieval carnivals of the 14th century – the only time jesters and critics could come to the main square and have a go at the king. The digital carnival (as academics like myself sometimes call the digital mockery of the elites) is not limited to a specific time in the year.
The never-ending flow of ridicule, sarcasm and dressing up online never ceases to amaze viral studies academics. But the end of October sees a particular concentration of this subversion, attracting the attention of the digital crowds seeking to laugh at the rich, famous and powerful.
People form and negotiate cultural codes through viral cultures, by choosing what posts to share, like, and comment on. Through these interactions, valuable meanings and identities emerge, and it will be fascinating to see which meanings the collective beehive wants to focus on this Halloween 2024. Whether that’s Carmy Berzatto in his blue apron or the cats and dogs of Springfield.
Anastasia Denisova does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
The NFL has avoided overt political messages since former 49er Colin Kaepernick’s anthem protests against police brutality against Black Americans. But what are the implications of a white player displaying an overt political message right before the United States presidential election?
U.S. athletes Tommie Smith, centre, and John Carlos extend gloved hands skyward in racial protest during the playing of national anthem at the 1968 Olympics. (AP Photo)
In turn, Kaepernick’s protest against police brutality and historic inequalities was seen as unpatriotic, and faced significant criticism.
Will Bosa face a similar backlash? It seems highly unlikely, especially since Bosa’s support for Trump will probably be framed as patriotic due to the former president’s populist rhetoric about returning America to greatness.
Former San Francisco 49ers quarterback Colin Kaepernick (7) and outside linebacker Eli Harold (58) kneel during the playing of the national anthem before an NFL football game against the Atlanta Falcons in Atlanta. (AP Photo/John Bazemore)
But when Bosa donned a piece of campaign merchandise on national television a little over a week out from a contentious presidential election, it was overtly political — arguably just as overtly political as taking a knee during the national anthem.
Rather, they don’t want to see political views they oppose being platformed in professional sports spaces.
If they agree with the politics, sporting events are seemingly just another stop on the campaign trail.
Noah Eliot Vanderhoeven does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United States Department of Defense (video statements)
Special Assistant to the Secretary of Defense Carrie Kagawa and military service recruitment leaders hold a panel on 2025 recruitment issues at the Pentagon on October 30, 2024.
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Your military is an all-volunteer force that serves to protect our security and way of life, but Service members are more than a fighting force. They are leaders, humanitarians and your fellow Americans. Get to know more about the men and women who serve, who they are, what they do, and why they do it.
For more on the Department of Defense, visit: http://www.defense.gov
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AIKEN, S.C., Oct. 30, 2024 (GLOBE NEWSWIRE) — Security Federal Corporation (the “Company”) (OTCBB: SFDL), the holding company for Security Federal Bank (the “Bank”), today announced earnings and financial results for the three and nine months ended September 30, 2024.
The Company reported net income available to common shareholders of $2.0 million, or $0.62 per share, for the quarter ended September 30, 2024, compared to $2.1 million, or $0.65 per share, for the third quarter of 2023. Year-to-date net income available to common shareholders was $5.9 million, or $1.83 per common share, for the nine months ended September 30, 2024, compared to $6.6 million, or $2.02 per common share, during the nine months ended September 30, 2023. Both the quarterly and year-to-date decreases in net income available to common shareholders were primarily due to increases in the provision for credit losses and non-interest expense, as well as the payment of preferred stock dividends during 2024, which were partially offset by increases in net interest income and non-interest income.
Third Quarter Comparative Financial Highlights
Net interest income increased $964,000, or 10.2%, to $10.4 million during the quarter ended September 30, 2024, compared to $9.4 million during the third quarter of 2023.
Total interest income increased $2.7 million, or 16.1%, to $19.5 million while total interest expense increased $1.7 million, or 23.7%, to $9.1 million during the quarter ended September 30, 2024 compared to the same quarter the prior year. The increase in interest income and interest expense was the result of higher market interest rates and increased average interest-earning assets and interest-bearing liabilities.
Non-interest income increased $457,000, or 21.1%, to $2.6 million during the quarter ended September 30, 2024 compared to the same quarter in the prior year primarily due to $263,000 and $74,000 increases in trust income and gain on sale of loans, respectively.
Non-interest expense increased $389,000, or 4.4%, to $9.3 million during the quarter ended September 30, 2024 compared to the same quarter in the prior year primarily due to an increase in salaries and employee benefits expense.
Quarter Ended
(Dollars in Thousands, except for Earnings per Share)
9/30/2024
9/30/2023
Total interest income
$
19,531
$
16,822
Total interest expense
9,121
7,376
Net interest income
10,410
9,446
Provision for credit losses
580
–
Net interest income after provision for credit losses
9,830
9,446
Non-interest income
2,625
2,168
Non-interest expense
9,313
8,924
Income before income taxes
3,142
2,690
Provision for income taxes
732
568
Net income
2,410
2,122
Preferred stock dividends
415
–
Net income available to common shareholders
$
1,995
$
2,122
Earnings per common share (basic)
$
0.62
$
0.65
Year to Date (Nine Months) Comparative Financial Highlights
Net interest income increased $1.8 million, or 6.1%, to $30.6 million during the nine months ended September 30, 2024 compared to the same period in the prior year.
Total interest income increased $10.5 million, or 22.5%, to $57.1 million while total interest expense increased $8.7 million, or 49.0%, to $26.5 million during the nine months ended September 30, 2024 compared to the same period in the prior year.
Non-interest income increased $780,000, or 11.8%, to $7.4 million during the nine months ended September 30, 2024 compared to the same period in the prior year primarily due to a $480,000 increase in trust income.
Non-interest expense increased $1.8 million, or 6.5%, to $28.6 million for the nine months ended September 30, 2024 compared to the same period in 2023.
Nine Months Ended
(Dollars in Thousands, except for Earnings per Share)
9/30/2024
9/30/2023
Total interest income
$
57,071
$
46,593
Total interest expense
26,497
17,780
Net interest income
30,574
28,813
Provision for credit losses
1,090
221
Net interest income after provision for credit losses
29,484
28,592
Non-interest income
7,400
6,620
Non-interest expense
28,617
26,863
Income before income taxes
8,267
8,349
Provision for income taxes
1,878
1,775
Net income
6,389
6,574
Preferred stock dividends
512
–
Net income available to common shareholders
$
5,877
$
6,574
Earnings per common share (basic)
$
1.83
$
2.02
Credit Quality
The Bank recorded a $1.2 million provision for credit losses on loans and a $110,000 reversal of provision for credit losses on unfunded commitments, resulting in a total provision for credit losses of $1.1 million for the first nine months of 2024, compared to $376,000 in provision for credit losses on loans and a $155,000 reversal of provision for credit losses on unfunded commitments, resulting in a total provision for credit losses of $221,000 for the first nine months of 2023.
Non-performing assets were $6.8 million at both September 30, 2024 and December 31, 2023, compared to $6.3 million at September 30, 2023.
The allowance for credit losses to gross loans was 1.95%, 1.98% and 2.03% at September 30, 2024, December 31, 2023, and September 30, 2023, respectively.
At Period End (dollars in thousands):
9/30/2024
12/31/2023
9/30/2023
Non-performing assets
$
6,770
$
6,825
$
6,339
Non-performing assets to total assets
0.43
%
0.44
%
0.43
%
Allowance for credit losses
$
13,604
$
12,569
$
12,348
Allowance for credit losses to gross loans
1.95
%
1.98
%
2.03
%
Balance Sheet Highlights and Capital Management
Total assets were $1.6 billion at September 30, 2024, a year-over-year increase of $99.0 million, or 6.7%.
Total loans receivable, net were $686.7 million at September 30, 2024, an increase of $64.2 million during the first nine months of 2024 and a year-over-year increase of $88.7 million.
Investment securities decreased $28.7 million during the first nine months of 2024 to $672.1 million at September 30, 2024, as maturities and principal paydowns of investment securities exceeded purchases during the nine-month period.
Deposits were $1.3 billion at September 30, 2024, an increase of $62.3 million, or 5.2% during the nine months ended September 30, 2024, and a year-over-year increase of $71.3 million, or 6.0%.
Borrowings decreased $49.1 million, or 28.9%, during the nine months ended September 30, 2024 to $121.0 million due to the repayment of borrowings with the Federal Reserve Bank Term Funding Program.
Dollars in thousands (except per share amounts)
9/30/2024
12/31/2023
9/30/2023
Total assets
$
1,576,326
$
1,549,671
$
1,477,330
Cash and cash equivalents
132,376
128,284
84,224
Total loans receivable, net
686,708
622,529
598,029
Investment securities
672,054
700,712
705,558
Deposits
1,257,313
1,194,997
1,186,053
Borrowings
120,978
170,035
119,898
Total shareholders’ equity
185,081
172,362
158,996
Common shareholders’ equity
102,132
89,413
76,047
Common equity book value per share
$
31.97
$
27.69
$
23.46
Total risk-based capital to risk weighted assets (1)
19.21
%
19.49
%
19.33
%
CET1 capital to risk weighted assets (1)
17.96
%
18.24
%
18.08
%
Tier 1 leverage capital ratio (1)
10.27
%
9.83
%
10.11
%
(1) – Ratio is calculated using Bank only information and not consolidated information
Security Federal Bank has 19 full-service branches located in Aiken, Ballentine, Clearwater, Columbia, Graniteville, Langley, Lexington, North Augusta, Ridge Spring, Wagener and West Columbia, South Carolina and Augusta and Evans, Georgia. A full range of financial services, including trust and investments, are provided by the Bank and insurance services are provided by the Bank’s wholly owned subsidiary, Security Federal Insurance, Inc.
Forward-looking statements:
Certain matters discussed in this press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements relate to, among other things, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company’s mission and vision. These forward-looking statements are based upon current management expectations and may, therefore, involve risks and uncertainties. The Company’s actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide variety or range of factors including, but not limited to: potential adverse impacts to economic conditions in our local market area or other aspects of the Company’s business, operations or financial markets, including, without limitation, as a result of employment levels, labor shortages and the effects of inflation, a potential recession or slowed economic growth; economic conditions in the Company’s primary market area; demand for residential, commercial business and commercial real estate, consumer, and other types of loans; success of new products; competitive conditions between banks and non-bank financial service providers; changes in management’s business strategies, including expectations regarding key growth initiatives and strategic priorities; legislative or regulatory changes that adversely affect the Company’s business, including the interpretation of regulatory capital or other rules; the ability to attract and retain deposits; the availability of resources to address changes in laws, rules, or regulations or to respond to regulatory actions; adverse changes in the securities markets; changes in accounting policies and practices, as may be adopted by the financial institution regulatory agencies or the Financial Accounting Standards Board, including additional guidance and interpretation on accounting issues and details of the implementation of new accounting methods; technology factors affecting operations, including disruptions, security breaches, or other adverse events, failures or interruptions in, or attacks on, our information technology systems or on the third-party vendors who perform critical processing functions for us; pricing of products and services; environmental, social and governance goals and targets; the effects of climate change, severe weather events, natural disasters, pandemics, epidemics and other public health crises, acts of war or terrorism, and other external events on our business; and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2023. These factors should be considered in evaluating forward-looking statements, and undue reliance should not be placed on such statements. The Company does not undertake any responsibility to update or revise any forward-looking statement.
Today, Dr. Brendan Hanley, Member of Parliament for the Yukon, on behalf of the Honourable Dan Vandal, Minister of Northern Affairs and Minister responsible for PrairiesCan and CanNor, announced a federal investment of nearly $100,000 in Northern Garments Inc., a Dawson City-based small business widely known as SKOOKUMbrand.
October 30, 2024 — Dawson City, Yukon — Canadian Northern Economic Development Agency
Small businesses across the North are providing unique high-quality products while boosting community growth, providing good jobs and contributing to regional and territorial economic development.
Today, Dr. Brendan Hanley, Member of Parliament for the Yukon, on behalf of the Honourable Dan Vandal, Minister of Northern Affairs and Minister responsible for PrairiesCan and CanNor, announced a federal investment of nearly $100,000 in Northern Garments Inc., a Dawson City-based small business widely known as SKOOKUMbrand.
Through this two-year project, SKOOKUMbrand will upgrade its production equipment to include computer-aided design technology so it can build capacity and meet increasing demand for its award-winning custom-made winter clothing. This investment will also support the purchase of small capital equipment to enhance productivity at the rural worksite and help address challenges with staff recruitment. Additionally, this project includes upgrades to the company’s website to increase its reach and expedite order processing.
The Government of Canada is supporting small business growth across the North. Investing in territorial entrepreneur and innovator ecosystems supports dynamic and strong economies and provides benefits to Yukoners and Northerners alike.
Quotes
“Supporting small businesses in rural areas to grow is essential to building strong economies and resilient communities. SKOOKUMbrand is contributing to the territorial economy, providing jobs, and designing clothing made in the North for northern weather. By investing in projects like this, our government is supporting northern businesses to expand, adopt new technology and address northern challenges.”
The Honourable Dan Vandal, Minister of Northern Affairs and Minister responsible for PrairiesCan and CanNor
“Small businesses contribute so much to the Yukon. For nearly 20 years, SKOOKUMbrand has produced high-quality Yukon-made outdoor clothing for Yukoners and have shipped its creations to people around the world. By implementing digital technologies, enhancing their online presence, and building capacity, this company can access wider markets.”
Dr. Brendan Hanley, Member of Parliament for the Yukon
“Our government is proud to stand behind Yukoners, driving local growth and strengthening our economy. By investing in local businesses, we are helping Yukoners enhance their communities, expand their businesses, and contribute to a resilient, sustainable future for our territory. SKOOKUMbrand embodies the spirit of Yukon—innovative, community-driven and proudly local, crafting products tailored specifically for Yukoners. Through the Economic Development Fund, we are excited to help this outstanding local company grow and reach new heights.”
Ranj Pillai, Premier and Minister of Economic Development, Government of Yukon
“Doing business from the North is always challenging. We operate in isolation from our industry peers and face skilled labour shortages, so we need to be resourceful and look to technology to for solutions that enable us to fill the demand for our products. The assistance we’ve been able to access through CanNor and the Yukon government is helping us to expand to become fully digital in sales and manufacturing, provide employee transit to our workplace and scale up to the next level of development. We are extremely grateful for this timely and focused assistance.”
Megan Waterman, Owner, Northern Garments Inc.
Quick facts
CanNor is contributing up $99,999 over two years for this project through the Inclusive Diversification and Economic Advancement in the North (IDEANorth) program. This program makes foundational investments in economic infrastructure, sector development and capacity building to help position Northerners in the territories to take advantage of Canada’s innovation economy.
The Government of Yukon’s Economic Development Fund (EDF) is also investing more than $20,000 in this project between 2023 and 2025. The EDF supports projects and initiatives that provide long-term, sustainable economic benefits to Yukoners and Yukon communities.
SKOOKUMbrand is a woman-owned small business located in Dawson City, Yukon. Since 2005, the company has been designing and manufacturing winter outerwear, such as fur-trimmed parkas, and accessories for circumpolar lifestyles.
Associated links
Contacts
Kyle Allen Director of Communications, Parliamentary Affairs and Issues Management Office of the Minister of Northern Affairs, Minister Responsible for PrairiesCan, and Minister Responsible for CanNor kyle.allen@rcaanc-cirnac.gc.ca
Leighann Chalykoff Communications Advisor, Yukon Region Canadian Northern Economic Development Agency (CanNor) leighann.chalykoff@cannor.gc.ca
Damian Topps Government of Yukon, Economic Development 867-667-5378 damian.topps@yukon.ca
Headline: South Carolinians Affected by Hurricane Helene Can Apply for FEMA Assistance and SBA Disaster Loan at the Same Time
South Carolinians Affected by Hurricane Helene Can Apply for FEMA Assistance and SBA Disaster Loan at the Same Time
In addition to applying for FEMA assistance, homeowners and renters in designated South Carolina counties have the option to apply for a low-interest disaster loan from the U.S. Small Business Administration at various stages of their recovery. While FEMA doesn’t require survivors to apply for an SBA loan before being considered for FEMA assistance, the SBA can offer financial support to individuals and business owners to aid their recovery.Homeowners and renters in Abbeville, Aiken, Allendale, Anderson, Bamberg, Barnwell, Beaufort, Cherokee, Chester, Edgefield, Fairfield, Greenville, Greenwood, Hampton, Jasper, Kershaw, Laurens, Lexington, McCormick, Newberry, Oconee, Orangeburg, Pickens, Richland, Saluda, Spartanburg, Union and York counties and the Catawba Indian Nation can apply for federal assistance.How To Apply for FEMA AssistanceThe quickest way to apply is to go online to DisasterAssistance.gov.To get in-person assistance, you can visit any Disaster Recovery Center. To find a center close to you, please go to fema.gov/drc or text “DRC” and a Zip Code to 43362. You can also apply using the FEMA App for mobile devices or calling toll-free 800-621-3362. The telephone line is open every day. Help is available in many languages. If you use a relay service, such as Video Relay Service (VRS), captioned telephone or other service, give FEMA your number for that service. For a video with American Sign Language, voiceover and open captions about how to apply for FEMA assistance, select this link FEMA programs are accessible to survivors with disabilities and others with access and functional needs. FEMA assistance is available for people with disabilities and others with access and functional needs.How To Apply for SBA Disaster LoansThe SBA offers disaster loans to assist businesses, private nonprofits, homeowners and renters with their recovery. Homeowners and renters are eligible to apply for disaster loans to repair or replace disaster-damaged or destroyed real estate and damaged or destroyed personal property. Businesses and nonprofits are eligible to apply for loans to cover physical damage. Economic Injury Disaster Loans (EIDLs) are also available to qualified businesses and nonprofits to help meet working capital needs caused by the disaster. dalton.kramer Wed, 10/30/2024 – 18:38
Source: US State of California Department of Justice
OAKLAND — California Attorney General Rob Bonta today joined 16 attorneys general in supporting a federal prohibition on price gouging. While 40 states across the country, including California, ban price gouging, there is no federal price gouging prohibition. Because so many product supply chains are nationwide, states face heightened challenges when protecting consumers from price gouging. A complementary federal price gouging prohibition would provide critical partnership to state enforcement, protect both consumers and small businesses, and strengthen existing state laws.
“During and after a crisis, it is unfair — and harmful to our economy —for companies to reap higher profits for selling goods and services that families need to survive. That is why California’s price gouging law protects Californians during and after wildfires, severe weather storms, and other emergencies,” said Attorney General Bonta. “A federal price gouging prohibition that complements state law would build on successful partnerships between states and the federal government to protect consumers by making it easier to enforce price gouging prohibitions nationally, up the supply chain. This would benefit California consumers and small businesses who currently bear the brunt of their suppliers’ price setting.”
Price gouging refers to sellers who take unfair advantage of consumers during an emergency or disaster by greatly increasing prices for essential consumer goods and services. Price gouging prohibitions are not price caps; prohibitions place temporary limits on a business’s ability to raise its profits on essential goods in a crisis. Price gouging prohibitions allow businesses to raise prices to cover costs, but those price increases should not result in an increase in their profits.
In the letter, the attorneys general explain that the current gap in federal regulations allows larger companies outside of state control to raise prices and pass down costs to smaller businesses. Without a federal prohibition, consumer-facing retailers — often small businesses — bear the burden of reputational and legal consequences of crisis-induced higher prices, even when the most significant price gouging activity may be happening up the supply chain. A federal price gouging prohibition that complemented state prohibitions would allow federal enforcement agencies, such as the Federal Trade Commission, to identify and restrain irrational price increases throughout the entire supply chain.
In the letter, the attorneys general argue that price gouging laws have key benefits that strengthen the economy. Price gouging laws:
Prevent inefficient pricing overreactions in the heat of a crisis. Setting prices too high may damage a business’s reputation and harm long-term profitability.
Encourage the production of essential supplies. Increasing production and selling more products, instead of selling the same amount at a higher price, allows businesses to increase their gross profits but not their profit margins and helps ensure people have enough essential supplies at reasonable costs.
Prevent hoarding. Encourages businesses to directly limit inefficient over-consumption.
Keep prices competitive. If consumers have no choice but to buy an essential product from one particular seller, price gouging prohibitions can restrain high prices for products where there is very little competition.
In sending today’s letter, Attorney General Bonta joined the attorneys general of New York, Connecticut, Delaware, Hawaii, Illinois, Maine, Maryland, Massachusetts, Michigan, Oregon, New Jersey, New Mexico, Pennsylvania, Vermont, and the District of Columbia.
In California, price gouging during a state of emergency is illegal under Penal Code Section 396. Californians who believe they have been the victim of price gouging should report it to their local authorities or to the Attorney General at oag.ca.gov/report.
For additional information, please see DOJ’s FAQs on price gouging here.
Gremex Shipping S.A. de C.V., a Mexican corporation that managed several ships, including the M/V Suhar, pleaded guilty and was sentenced today in federal district court in Pensacola, Florida, for creating and providing false records to the U.S. Coast Guard to conceal its illegal discharge of oily bilge waste into the ocean, which is a felony violation of the Act to Prevent Pollution from Ships (APPS).
The charge stems from a Coast Guard investigation of the ship once it arrived in Pensacola on Aug. 25, 2023. The Suhar is a 7,602 gross ton Panamanian-flagged ocean-going bulk carrier that routinely hauled cement from Tampico, Mexico, to Pensacola. Since March 2021, day-to-day operation of the ship was undertaken by Gremex, which was responsible for hiring all crew, and ensuring compliance with all policies on protection of the environment in accordance with international regulations. After boarding the ship to determine compliance with all applicable laws, Coast Guard personnel determined that the vessel’s crew had regularly discharged untreated oily bilge water into sea in a manner that bypassed onboard pollution control equipment, and then falsified the ship’s oil record book to conceal these discharges.
As part of normal vessel operations, large ocean-going ships like the Suhar generate oily bilge water that periodically needs to be discharged for the vessel to operate safely. The United States and Panama are both parties to an international treaty known as MARPOL, which regulates and limits the at-sea discharge of oily bilge water. To satisfy these marine pollution requirements, vessels typically discharge oily bilge water after it has been processed through an oily water separator, a piece of onboard pollution control equipment which removes oil from bilge water prior to discharge. Ships are required to maintain an oil record book that documents all discharges of oily bilge water so authorities can monitor ships for compliance with these international requirements. Federal law requires that foreign ships arriving at U.S. ports maintain an accurate oil record book.
Consistent with a sentencing recommendation jointly proposed by the government and Gremex, the court sentenced the company to pay a $1.75 million fine, serve a four-year term of probation and commit to developing and implementing an environmental compliance plan that will be in effect during the time the company is on probation.
Assistant Attorney General Todd Kim of the Environment and Natural Resources Division and U.S. Attorney Jason R. Coody for the Northern District of Florida made the announcement.
The Coast Guard’s Investigative Service investigated the case.
Trial Attorney Joel La Bissonniere of the Environment and Natural Resources Division’s Environmental Crimes Section and Assistant U.S. Attorney Ryan Love for the Northern District of Florida prosecuted the case.
DALLAS, Texas, Oct. 30, 2024 (GLOBE NEWSWIRE) — MEF, a global industry association of network, cloud, security, and technology providers accelerating enterprise digital transformation, today announced winners of its 2024 MEF NaaS Excellence Awards. These awards recognize outstanding achievements by service providers, technology providers, and professionals pioneering the future of digital services in an ecosystem optimized for a cloud-driven experience.
Winners were unveiled at MEF’s Global Network-as-a-Service Event (GNE) happening this week in Dallas, Texas and selected by a distinguished panel of senior industry analysts from ACG Research, Analysys Mason, Appledore Research, Atlantic-ACM, AvidThink, Dell’Oro Group, Frost & Sullivan, IDC, Omdia, TeleGeography, and Vertical Systems Group.
“We are thrilled to announce the winners of the 2024 MEF NaaS Excellence Awards, celebrating the visionaries advancing the automated network ecosystem,” said Nan Chen, CEO, MEF. “As the industry shifts toward dynamic, cloud-based service models, these awards recognize the achievements of the companies and individuals whose dedication and innovation are shaping the future of digital communications. This year’s honorees exemplify leadership and commitment to a future-ready, cloud-optimized ecosystem.”
2024 MEF Excellence Awards Winners
Service Provider Category:
NaaS Service Provider of the Year
Global – Colt Technology Services
Europe – Colt Technology Services
North America – Lumen Technologies
Asia Pacific – Console Connect
Latin America – Ufinet
Best NaaS Vision
Colt Technology Services
MEF 3.0 CE Service Provider of the Year
Global – Tie: Verizon Business and Tata Communications
Europe – Comcast Business
North America – Verizon Business
Asia Pacific – Tata Communications
Latin America – Ufinet
Secure Access Service Edge (SASE) Service Provider of the Year
About MEF MEF is a global consortium of service, cloud, cybersecurity, and technology providers collaborating to accelerate enterprise digital transformation. It delivers standards-based frameworks, services, technologies, APIs, and certification programs to enable Network-as-a-Service (NaaS) across an automated ecosystem. MEF is the defining authority for certified Lifecycle Service Orchestration (LSO) business and operational APIs and Carrier Ethernet, SASE, SD-WAN, Zero Trust, and Security Service Edge (SSE) technologies and services. MEF’s Global NaaS Event (GNE) convenes industry leaders building and delivering the next generation of NaaS solutions. For more information about MEF, visit MEF.net and follow us on LinkedIn and Twitter.
NEW YORK/JERUSALEM, October 30, 2024 — The Israeli Knesset’s ban on UNRWA operations represents a devastating blow to Palestinians, further jeopardizing their survival in Gaza and greatly impacting communities in the West Bank, said Doctors Without Borders/Médecins Sans Frontières.
UNRWA is the largest health provider in Gaza, with over half of Gazans relying on it for essential health care services, including for the treatment of chronic diseases, displacement-related conditions, maternal and child heath, and vaccinations. Each day, UNRWA’s health teams provide over 15,000 consultations in the Gaza Strip. The ban of its activities threatens to create a vast gap in services within an already largely destroyed health system in Gaza—directly and indirectly endangering the lives of Palestinians.
“UNRWA is a lifeline for Palestinians,” said Christopher Lockyear, MSF’s secretary general. “If implemented, the ban on UNRWA’s activities would have catastrophic implications on the dire humanitarian situation of Palestinians living in Gaza, as well as in the West Bank—now and for generations to come. We strongly condemn this decision, which is the culmination of a long-running campaign against the organization.”
If implemented, the ban on UNRWA’s activities would have catastrophic implications on the dire humanitarian situation of Palestinians living in Gaza, as well as in the West Bank—now and for generations to come.
Christopher Lockyear, MSF secretary general
The newly voted legislation will make it almost impossible for UNRWA to work in Gaza or the West Bank. Coordination with Israeli authorities will be impeded and entrance permits to either of the occupied territories will be denied, essentially blocking delivery of UNRWA aid into and within Gaza. UNRWA handles almost all the distribution of UN aid coming into the Strip. This vote adds to the endless physical and bureaucratic impediments imposed by Israel to limit the amount of aid reaching Gaza, and contradicts Israel’s claims that it is facilitating humanitarian assistance into the Strip.
Earlier this month, the US sent a letter to Israel demanding they take steps to improve the humanitarian situation within 30 days, and not adopt this legislation. As the leading provider of military and financial support to Israel, the US has an obligation to assess if the conduct of the war is consistent with international and US laws designed to protect civilians and to apply the appropriate legal procedures.
The Israeli parliament’s passage of legislation banning UNRWA is shocking in its cruelty … In the face of this blatant criminalization of humanitarian aid, the US government yet again offers only weak warnings while maintaining its support for a war without rules.
Avril Benoît, chief executive officer of MSF USA
“After a full year of death, destruction, and deprivation in Gaza, Israel is moving to make it impossible for the largest humanitarian actor to deliver assistance and services amid the most severe humanitarian crisis Palestinians have ever endured,” said Avril Benoît, chief executive officer of MSF USA. “The Israeli parliament’s passage of legislation banning UNRWA is shocking in its cruelty. This ban would suffocate the humanitarian response in Gaza and cut off people’s access to basic services in the West Bank. In the face of this blatant criminalization of humanitarian aid, the US government yet again offers only weak warnings while maintaining its support for a war without rules and for the continued collective punishment of civilians.”
The impact of UNRWA’s ban will extend beyond Gaza. Critical services, including refugee camp management, health services, education, and social programs across the West Bank are also at risk of destabilization under this legislation. These bills set a grave precedent for other conflict situations where governments may wish to eliminate an inconvenient United Nations presence.
Israeli bill to designate UNRWA a terrorist organization is an attack on humanitarian aid
Walled up in our silos, we fear what the people in the other silo might inflict on us. The frightening visions have different names and faces, but everyone seems to fear the future.
Halloween’s ghoulish displays seem to have generated more sales than ever this year, inflation be damned. What with school shootings, random violence and a general atmosphere of threats, one would think we didn’t need to scare ourselves more.
But as psychologist Sarah Kollat has recently written, Halloween thrills and chills can feel warming and reassuring. People who have survived a frightening shared ordeal, be it a hurricane or flood or fire or war or even, apparently, a haunted house, feel significantly connected to those who have experienced the same fearful event alongside them.
Our fear can bring us together. It can also tear us apart.
Halloween provides the language to talk about threats, real or imagined. “The zombies have arrived, and we have to figure out how to navigate around them,” a citizen of a Vermont town was recently quoted as saying. She was talking about homeless people.
‘Treachery, Rage and black Fear’
It’s both easy and helpful to personify fear as something outside of us – to give it, in Shakespeare’s phrase, “a local habitation and a name.”
Fear looms and fades; visits at night; thrives in certain conditions. In his epic “The Aeneid,” the Roman poet Virgil describes the war god, Mars, as accompanied by his posse: “the god’s retainers – Treachery, Rage, and black Fear – pound beside him.”
This nightmare troika has a contemporary ring. If by treachery we understand traps, tricks, ambushes, we can plug in political debate, rife with accusations of mendacity; tricks and rage also characterize a good deal of public discourse. And isn’t anger the opposite side of the coin of fear?
Virgil, a great psychologist of many kinds of unease, also depicts a less aggressive manifestation of fear: “Up on the wall stood frightened mothers, gazing/After the dust cloud and the bronze-bright squadrons.” Uneasy spectators, helpless to protect their loved ones, they watch their sons marching to war. In a similar passage, “mothers, the unarmed commons,/And weak old men came pouring out to fill/Towers and roofs.”
Those of us not on a battlefield are in a position of tense watching and waiting.
We feel powerless to affect the outcome; the stakes are high; we fear the worst.
Love and heroism in short supply
Fear is linked to love. In Homer’s “Iliad,” Achilles is reluctant to fight for the Greek side not because he’s afraid of death, even though he knows his life may be short. Rather, he’s too angry to sacrifice his life for a cause and commanders he no longer believes in – until his beloved Patroklos is killed by Hector. Only then do Achilles’ mood and motivation change; he eagerly rejoins the fight.
Characters in Greek tragedies can make terrible decisions, be subject to madness, destroy themselves and others – but they are rarely afraid. The fear and pity Aristotle ascribes to tragedy are the emotions of the spectator.
In connection with fear, one of the only characters in Greek tragedy who readily comes to mind is Admetus, the husband of Alcestis in Euripides’ play of that name. Informed that he is fated to die, Admetus scrambles frantically for a substitute to die in his place. His own father huffily refuses, but his wife Alcestis volunteers.
When at the end of the play a veiled, silent figure we presume to be Alcestis reappears, there’s relief, as well as some nervous laughter. This play, with its – sort of – happy ending, turns out not to be a tragedy after all. It’s closer to dark comedy.
In our own time, rather than fear of death, fear of loss looms large – fear of isolation, humiliation, status; fear of poverty; fear of change. Elsewhere in “the Aeneid,” a character in the underworld makes a resonant remark about the afterlife: “Each bears his own ghosts.”
Maybe each of us has our own flavor of fear. There’s not much love or heroism in evidence these Halloween and preelection days. Anger and treachery, fear’s companions, are on daily display.
Rachel Hadas does not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: State University of Management – Official website of the State –
On October 30, 2024, the National Economic Forum named after D.S. Lvov was held at the Information Technology Center of the State University of Management, within the framework of which a new master’s educational program of the Eurasian Network University “Economics of Integration Processes in the Eurasian Economic Union” was opened.
The plenary session was attended by: Vice-Rector of the State University of Management Maria Karelina, Co-Chair of the Forum, Corresponding Member of the Russian Academy of Sciences, Head of the Department of Institutional Economics of the State University of Management Georgy Kleiner, Corresponding Member of the Russian Academy of Sciences, Director of the Central Economics and Mathematics Institute of the Russian Academy of Sciences Albert Bakhtizin, Head of the Scientific Direction “Macroeconomics and Institutional Theory” of the Central Economics and Mathematics Institute of the Russian Academy of Sciences Viktor Dementyev, Director of the Department of Support of New Businesses of the State Corporation “Rosatom” Dmitry Baidarov, Academician of the Russian Academy of Sciences, Head of the Department of Economic Policy and Economic Measurements of the Institute of Economics and Finance of the State University of Management Sergey Glazyev. The moderator was Director of the IEF of the State University of Management Galina Sorokina.
The renewal of the tradition of holding the Forum will allow the State University of Management to advance in economic science. This was stated by the Vice-Rector of the State University of Management Maria Karelina. Addressing all participants, students of Academician Dmitry Lvov and future economists, she also noted that this decision will contribute to interdisciplinary research, which is especially relevant today.
It should be noted that this year marks the 70th anniversary of Dmitry Lvov’s graduation from the Moscow Ordzhonikidze Engineering and Economics Institute (now the State University of Management). The head of the Department of Institutional Economics at our university, Georgy Kleiner, delivered a report to the audience. Georgy Borisovich drew attention to the fact that not many economists offered their economic paradigm to the world. Academician Lvov saw the essence of economics in the fusion of material factors, spiritual quests, emotions and institutional influences. It is thanks to this science that we are a society. A person is not only the main resource of the economy, but also a beneficiary, a source of progress. He should not be a hostage to the economic system, but a part of it. Dmitry Lvov’s key idea was that the economy should be a link between man and humanity. It was to study such global issues that Academician Lvov created the first Department of Institutional Economics in Russia at the State University of Management.
During the active work of Dmitry Lvov, the Internet had not yet penetrated into all spheres of life, but today the academician’s speeches would be constantly on everyone’s lips, because he outraged the space with uncomfortable questions. This was very subtly noted by the director of the Central Economics and Mathematics Institute of the Russian Academy of Sciences, Albert Bakhtizin. Back in 2004, he drew attention to the depopulation of Russia, the unfair division of resources, noted the importance of contacts with China, described the instruments of pressure of the USA on other countries, that is, he saw the contours of the future world order. The speaker analyzed modern economic problems in detail, in particular, he noted that even experts in the USA understand how harmful excessive dollarization is for the world economy.
Viktor Dementyev, head of the Macroeconomics and Institutional Theory research department at the Central Economics and Mathematics Institute of the Russian Academy of Sciences, gave a report on the topic of “The Resilience of Russian Regional Economies under Different Shocks.” According to him, the modern economy has experienced four shocks: the Great Recession of 2009, the sanctions wave of 2015, the pandemic, and, of course, the second wave of sanctions, which is still ongoing. Research has shown that entities that are resilient to one shock are also resilient to others. But at the same time, methods for successfully overcoming one crisis do not always work under another.
Dmitry Baidarov, Director of the Department for Support of New Businesses at the Rosatom State Corporation, expressed the opinion that economic challenges facing Russia did not appear after the start of the SVO or during the pandemic – they have always been there, it’s just that the attitude towards them was different before. The history of Rosatom shows that if you pay attention to a gap in the economy in time, you can quickly and effectively fill it. For example, the corporation currently fulfills 88% of global orders for the construction of nuclear power facilities. Dmitry Baidarov regretfully noted that the paradigm of a competitive rather than a partnership economy, imported from outside, still prevails in Russia. The speaker said that Rosatom only realized two years ago how much engineers and economists are needed in production, and there are almost none left on the labor market, so the focus of the State University of Management on training just such specialists is very timely.
Sergey Glazyev, Head of the Department of Economic Policy and Economic Measurements at the Institute of Economics and Finance at the State University of Management, said that Dmitry Lvov was his academic advisor, with whom they substantiated the priorities of Russia’s new economic development and discussed the need to create state corporations as opposed to the fragmentation of production cycles. China has followed this path and achieved a lot, and we are facing dynamic catch-up, which is also impossible without the creation of state corporations. For an economic breakthrough, we need not just a sharp increase in investment, but targeted investment lines. The experience of Asian economies shows that this is the only way it works. If we followed the ideas of Lvov, who claimed that money cannot be a moral value and the core of the economy, we would already be world leaders along with India and China, where this is carefully monitored.
The second part of the plenary session was no less interesting and productive. It was dedicated to the opening of the educational program of the Eurasian Network University “Economics of Integration Processes in the Eurasian Economic Union”.
The program was presented by the Vice-Rector of the State University of Management Dmitry Bryukhanov, who noted that questions about the “fifth freedom”, freedom of knowledge, are becoming increasingly loud today, so the opening of the new program is fully supported by the Ministry of Science and Higher Education of the Russian Federation and Rossotrudnichestvo. The Vice-Rector reported that the program was developed with the assistance of the Eurasian Economic Commission and about 20 master’s students have already been enrolled, and training will start this week. The process will be hybrid, for which a special information environment has been developed.
One of the developers of the program, Deputy Director of the Department of Macroeconomic Policy of the Eurasian Economic Commission Kanybek Azhekbarov wished all applicants good studies and drew the attention of those gathered to the fact that the program was created on the basis of additional professional education, which has already trained 40 specialists.
The head of the program, Sergey Glazyev, thanked the Ministry of Science and Higher Education of the Russian Federation, the government of Kyrgyzstan and the State University of Management for their support. He shared plans to expand the program and noted that the Eurasian Economic Union and its labor market cannot effectively exist without a common educational space, and the State University of Management is an excellent platform to begin forming it.
At the end of the new program, students were presented with a symbolic pass to the State University of Management. After the break, the Forum continued in sections and round tables.
Subscribe to the TG channel “Our GUU” Date of publication: 10/30/2024
Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.
The Taxpayers’ Ombudsperson, Mr. François Boileau, is pleased that the Canada Revenue Agency (CRA) has proactively waived the 2024 filing requirement for bare trusts, unless it makes a direct request.
OTTAWA, October 30, 2024 – The Taxpayers’ Ombudsperson, Mr. François Boileau, is pleased that the Canada Revenue Agency (CRA) has proactively waived the 2024 filing requirement for bare trusts, unless it makes a direct request.
In July 2024, the Taxpayers’ Ombudsperson announced that our Office was opening a systemic examination into whether the CRA had respected taxpayers’ rights in its administration of bare trust filing requirements for the 2023 tax year.
In carrying out the examination, we heard from stakeholders that the bare trust information the CRA provided for the 2023 tax year had value, but like the 2023 exemption, it came too late. Many tax preparers complete their hiring and training in the fall for each upcoming tax season. Therefore, announcing relief or an exemption beyond November is not timely.
In August and September 2024, the Department of Finance Canada consulted with Canadians on technical amendments clarifying the trust reporting rules. It indicated that the legislative proposal would seek to reduce the administrative burden and to exempt bare trustees from the 2024 bare trust filing requirement.
The CRA’s role is to administer the tax legislation in a manner that is fair and reasonable for taxpayers. It appears unlikely that a bill reflecting the proposed amendments would receive royal assent before many tax preparation firms begin planning for the 2025 tax-filing season. Therefore, it was important that the CRA proactively communicate this exemption, which it did this week.
We are currently in the final stages of drafting our report on our examination into the CRA’s administration of the 2023 bare trust filing requirements. We have met with stakeholders, examined complaints we received, and sought answers from the CRA. We plan to publish the report in early 2025.
Background information
The Office of the Taxpayers’ Ombudsperson works independently from the CRA. Canadians can submit complaints to the Office if they feel they are not receiving the appropriate service from the CRA. Our main objective is to improve the service the CRA provides to taxpayers and benefit recipients by reviewing individual service complaints and service issues that affect more than one person or a segment of the population.
The Taxpayers’ Ombudsperson assists, advises and informs the Minister of National Revenue about matters relating to services provided by the CRA. The Ombudsperson ensures, in particular, that the CRA respects eight of the service rights outlined in the Taxpayer Bill of Rights.
RCMP Central Region Thunder Bay detachment is advising that their phone number, 807-623-2791, has been spoofed and is being used unlawfully to intimidate and defraud victims.
Spoofing is when a scammer uses a device to mask their real phone number and display a different number that does not actually belong to the caller.
Be aware that government agencies, including police:
Will never ask you to make payments using bitcoin or gift cards,
Will not show up to your residence to collect money for a child in jail
Will not ask for your personal information such as your Social Insurance Number (SIN), your date of birth (DOB) or phone number over the phone.
Please also be aware that the RCMP in Ontario is not the police of jurisdiction. In Ontario, the RCMP enforces federal laws, including national security, border integrity, transnational, serious and organized crime and financial crimes such as cybercrime, money laundering and counterfeiting.
If you suspect that you are being scammed, hang up. If you have been a victim of a scam, please report it to your local police. You can also report any scams totheCanadian Anti-Fraud Centre.
Never assume that phone numbers appearing on your call display are accurate
Hang up and make the outgoing call when someone claims to be contacting you from your financial institution, service provider, law enforcement or government agency
Call the company or agency in question directly, if you receive a text message or email. Make sure you research their contact information and don’t use the information provided in the first message
Never click on links received via text message or email
When visiting a website, always verify the URL and domain to make sure you are on the official website.
With questions or concerns about whether an RCMP police officer from Thunder Bay has or is trying to contact you, call the RCMP Thunder Bay detachment directly, Monday-Friday, 8 am-4 pm, 807-623-2791.
GLENWOOD SPRINGS, Colo., Oct. 30, 2024 (GLOBE NEWSWIRE) — Alpine Banks of Colorado (OTCQX: ALPIB) (“Alpine” or the “Company”), the holding company for Alpine Bank (the “Bank”), today announced results (unaudited) for the quarter ended September 30, 2024. The Company reported net income of $13.6 million, or $127.16 per basic Class A common share and $0.85 per basic Class B common share, for third quarter 2024.
Highlights in third quarter 2024 include:
Basic earnings per Class A common share increased 16.8%, or $18.28, during third quarter 2024.
Basic earnings per Class A common share decreased 16.8%, or $18.30, compared to third quarter 2023.
Basic earnings per Class B common share increased 16.8%, or $0.12, during third quarter 2024.
Basic earnings per Class B common share decreased 16.8%, or $0.12, compared to third quarter 2023.
Net interest margin for third quarter 2024 was 2.98%, compared to 2.87% in second quarter 2024, and 2.87% in third quarter 2023.
“Third quarter 2024 results show a continuation of our improving financial performance,” said Glen Jammaron, Alpine Banks of Colorado President and Vice Chairman. “Alpine successfully grew customer deposit balances, paid down brokered CDs and decreased the cost of our funding during the third quarter. Both our net interest margin and return on assets saw improvements over the first and second quarters of 2024.”
Net Income Net income for third quarter 2024 and second quarter 2024 was $13.6 million and $11.7 million, respectively. Interest income increased $1.9 million in third quarter 2024 compared to second quarter 2024, primarily due to increases in yields on the loan portfolio and increased balances in due from banks. These increases were slightly offset by decreased yields and volumes in the securities portfolio and decreased rates on due from banks, along with decreased volume in the loan portfolio. Interest expense increased $0.3 million in third quarter 2024 compared to second quarter 2024, primarily due to increased balances in deposit accounts. This increase was partially offset by decreases in costs on, and volume of, the Company’s trust preferred securities. Noninterest income increased $1.3 million in third quarter 2024 compared to second quarter 2024, primarily due to increases in service charges on deposit accounts, and other income. Noninterest expense decreased $0.8 million in third quarter 2024 compared to second quarter 2024, due to decreases in other expenses and salary and employee benefit expenses slightly offset by increases in occupancy expenses and furniture and fixture expenses. A provision for loan losses of $1.2 million was recorded in third quarter 2024 compared to a $0.2 million provision recorded in second quarter 2024.
Net income for the nine months ended September 30, 2024, and September 30, 2023, was $35.9 million and $46.0 million, respectively. Interest income increased $18.5 million in the first nine months of 2024 compared to the first nine months of 2023, primarily due to increases in volume in the loan portfolio and balances due from banks, along with increases in yields on the loan portfolio, the securities portfolio, and balances due from banks. These increases were slightly offset by a decrease in volume in the securities portfolio. Interest expense increased $31.8 million in the first nine months of 2024 compared to the first nine months of 2023, primarily due to increases in costs on the Company’s trust preferred securities, other borrowings, and cost of deposits, along with increases in volume in deposit balances. These increases were partially offset by a decrease in the volume of other borrowings. Noninterest income increased $3.3 million in the first nine months of 2024 compared to the first nine months of 2023, primarily due to increases in earnings on bank-owned life insurance, service charges on deposit accounts and other income. Noninterest expense increased $3.0 million in the first nine months of 2024 compared to the first nine months of 2023, due to increases in salary and employee benefit expenses and occupancy expenses. These increases were partially offset by decreases in furniture and fixture expenses and other expenses. Provision for loan losses decreased $0.3 million in the first nine months of 2024 due to loan portfolio declines and a small volume of loan charge-offs, compared to the nine months ended September 30, 2023.
Net interest margin increased from 2.87% in second quarter 2024 to 2.98% in third quarter 2024. Net interest margin for the nine months ended September 30, 2024, and September 30, 2023, was 2.89% and 3.17%, respectively.
Assets Total assets increased $107.0 million, or 1.7%, to $6.58 billion as of September 30, 2024, compared to June 30, 2024, primarily due to increased cash and due from banks and investment securities balances, partially offset by decreased loans receivable. Total assets increased $110.6 million, or 1.7%, from September 30, 2023, to September 30, 2024. The Alpine Bank Wealth Management* division had assets under management of $1.34 billion on September 30, 2024, compared to $1.09 billion on September 30, 2023, an increase of 23.3%.
Loans Loans outstanding as of September 30, 2024, totaled $4.0 billion. The loan portfolio decreased $36.3 million, or 0.9%, during third quarter 2024 compared to June 30, 2024. This decrease was driven by a $22.9 million decrease in real estate construction loans and a $33.7 million decrease in residential real estate loans, partially offset by a $13.7 million increase in commercial and industrial loans, a $5.0 million increase in commercial real estate loans, a $1.6 million increase in consumer loans, and a $0.1 million increase in other loans.
Loans outstanding as of September 30, 2024, reflected a decrease of $5.0 million, or 0.1%, compared to loans outstanding of $4.0 billion on September 30, 2023. This decrease was driven by a $102.8 million decrease in real estate construction loans, partially offset by a $54.9 million increase in commercial real estate loans, a $20.8 million increase in residential real estate loans, a $20.0 million increase in commercial and industrial loans, a $1.8 million increase in consumer loans and a $0.3 million increase in other loans.
Deposits Total deposits increased $74.1 million, or 1.3%, to $5.9 billion during third quarter 2024 compared to June 30, 2024, primarily due to a $110.1 million increase in demand deposits and a $49.5 million increase in money market accounts. This increase was partially offset by a $36.4 million decrease in certificate of deposit accounts, a $3.8 million decrease in savings accounts, and a $45.4 million decrease in interest-bearing checking accounts. Brokered certificates of deposit totaled $330.7 million on September 30, 2024, compared to $390.5 million on June 30, 2024. Noninterest-bearing demand accounts comprised 30.7% of all deposits on September 30, 2024, compared to 29.3% on June 30, 2024.
Total deposits of $5.9 billion on September 30, 2024, reflected an increase of $38.5 million, or 0.7%, compared to total deposits of $5.8 billion on September 30, 2023. This increase was due to a $248.2 million increase in money market accounts, partially offset by a $41.6 million decrease in certificate of deposit accounts, a $111.6 million decrease in interest-bearing checking accounts, a $27.0 million decrease in demand deposits and a $29.5 million decrease in savings accounts. Brokered certificates of deposit totaled $330.7 million on September 30, 2024, compared to $563.7 million on September 30, 2023. Noninterest-bearing demand accounts comprised 30.7% of all deposits on September 30, 2024, compared to 31.4% on September 30, 2023.
Capital The Bank continues to be designated as a “well capitalized” institution as its capital ratios exceed the minimum requirements for this designation. As of September 30, 2024, the Bank’s Tier 1 Leverage Ratio was 9.62%, Tier 1 Risk-Based Capital Ratio was 14.15%, and Total Risk-Based Capital Ratio was 15.30%. On a consolidated basis, the Company’s Tier 1 Leverage Ratio was 9.23%, Tier 1 Risk-Based Capital Ratio was 13.59%, and Total Risk-Based Capital Ratio was 15.85% as of September 30, 2024.
Book value per share on September 30, 2024, was $4,787.58 per Class A common share and $31.92 per Class B common share, an increase of $294.62 per Class A common share and $1.96 per Class B common share from June 30, 2024.
Each Class A common share is entitled to one vote per share. Except as otherwise provided by the Colorado Business Corporation Act, each Class B common share has no voting rights.
Dividends Each Class B common share has dividend and distribution rights equal to one-one hundred and fiftieth (1/150th) of such rights of one Class A common share. Therefore, each one Class A common share is equivalent to 150 Class B common shares for purposes of the payment of dividends.
During third quarter 2024, the Company paid cash dividends of $30.00 per Class A common share and $0.20 per Class B common share. On October 10, 2024, the Company declared cash dividends of $30.00 per Class A common share and $0.20 per Class B common share payable on October 28, 2024, to shareholders of record on October 21, 2024.
About Alpine Banks of Colorado Alpine Banks of Colorado, through its wholly owned subsidiary Alpine Bank, is a $6.6 billion, independent, employee-owned organization founded in 1973 with headquarters in Glenwood Springs, Colorado. Alpine Bank employs 890 people and serves 170,000 customers with personal, business, wealth management*, mortgage, and electronic banking services across Colorado’s Western Slope, mountains and Front Range. Alpine Bank has a five-star rating – meaning it has earned a superior performance classification – from BauerFinancial, an independent organization that analyzes and rates the performance of financial institutions in the United States. Shares of the Class B non-voting common stock of Alpine Banks of Colorado trade under the symbol “ALPIB” on the OTCQX® Best Market. Learn more at www.alpinebank.com.
*Alpine Bank Wealth Management services are not FDIC insured, may lose value, and are not guaranteed by the Bank.
Contacts:
Glen Jammaron
Eric A. Gardey
President and Vice Chairman
Chief Financial Officer
Alpine Banks of Colorado
Alpine Banks of Colorado
2200 Grand Avenue
2200 Grand Avenue
Glenwood Springs, CO 81601
Glenwood Springs, CO 81601
(970) 384-3266
(970) 384-3257
A note about forward-looking statements This press release contains “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “reflects,” “believes,” “can,” “would,” “should,” “will,” “estimates,” “continues,” “expects” and similar references to future periods. Examples of forward-looking statements include, but are not limited to, statements we make regarding our evaluation of macro-environment risks, Federal Reserve rate management, and trends reflecting things such as regulatory capital standards and adequacy. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward- looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statement include, but are not limited to:
The ability to attract new deposits and loans;
Demand for financial services in our market areas;
Competitive market-pricing factors;
Changes in assumptions underlying the establishment of allowances for loan losses and other estimates;
Effects of future economic, business and market conditions, including higher inflation;
Adverse effects of public health events, such as the COVID-19 pandemic, including governmental and societal responses;
Deterioration in economic conditions that could result in increased loan losses;
Actions by competitors and other market participants that could have an adverse impact on expected performance;
Risks associated with concentrations in real estate-related loans;
Risks inherent in making loans, such as repayment risks and fluctuating collateral values;
Market interest rate volatility, including changes to the federal funds rate;
Stability of funding sources and continued availability of borrowings;
Geopolitical events, including acts of war, international hostilities and terrorist activities;
Assumptions and estimates used in applying critical accounting policies and modeling, including under the CECL model, which may prove unreliable, inaccurate, or not predictive of actual results;
Actions of government regulators, including potential future changes in the target range for the federal funds rate by the Board of Governors of the Federal Reserve;
Sale of investment securities in a loss position before their value recovers, including as a result of asset liability management strategies or in response to liquidity needs;
Any increases in FDIC assessments;
Risks associated with potential cybersecurity incidents, data breaches or failures of key information technology systems;
The ability to maintain adequate liquidity and regulatory capital, and comply with evolving federal and state banking regulations;
Changes in legal or regulatory requirements or the results of regulatory examinations that could restrict growth;
The ability to recruit and retain key management and staff;
The ability to raise capital or incur debt on reasonable terms; and
Effectiveness of legislation and regulatory efforts to help the U.S. and global financial markets.
There are many factors that could cause actual results to differ materially from those contemplated by forward-looking statements. Any forward-looking statement made by us in this press release or in any subsequent written or oral statements attributable to the Company are expressly qualified in their entirety by the cautionary statements above. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.
Key Financial Measures The attached tables highlight the Company’s key financial measures for the periods indicated (unaudited).
Isn’t raising one’s child supposed to be full of joy and laughter? Apparently not, according to the horror genre.
Consider Mary Shelley’s Frankenstein (1818), one of the earliest and most famous horror novels ever written. It follows a father-like character who creates a child-like progeny, and the former’s failure to love the latter turns the nameless creature into a “monster” in more ways than one.
Australia is a noteworthy contributor to the sub-genre of parental horror. The Babadook (2014), Relic (2020) and Lake Mungo (2008) are just some Aussie horror films that feature terrified (or terrifying) mums and dads.
The first half of Jon Bell’s The Moogai made me think it could be in the running for the title of Ultimate Aussie Horror Flick. It is a certifiably Australian horror film. It is also one of very few Indigenous-directed horror films, alongside Tracey Moffatt’s 1993 experimental triptych beDevil.
Bell’s past credits include work in horror’s sister genre, sci-fi, including for co-writing the script of the acclaimed TV series Cleverman. As with this show, his directorial debut feature fuses a figure from Indigenous spiritual traditions with the modern genre conventions.
The Moogai is a bad spirit from Indigenous lore that is known to steal children. Elise Lockwood
Being followed by a bad spirit
The titular figure at the centre of The Moogai is a “bad spirit” from Indigenous lore – “something akin to the boogie man,” Bell said in an interview.
We first encounter the Moogai – or at least become aware of his ominous presence – in the film’s introductory sequence which recalls the trauma of the forced removals of the Stolen Generations.
In these scenes, set in 1970, an Indigenous girl runs into a cave in a rural setting to hide from government agents. She and the audience soon realise something very threatening already resides in the cave.
We hear some heavy breathing, a growl, the girl’s scream and then … cut to 2024, to a posh corporate function in the city, where a bottle of champagne is being uncorked. It’s a terrifically startling cut, and Bell’s incisive use of montage throughout the film is just one facet of his skills as a highly visual filmmaker.
In one of the most wonderfully disturbing scenes, the protagonist Sarah (Shari Sebbens), not long after having given birth to her second child, cracks open an egg in the kitchen to make breakfast. Inside is a bloody chicken embryo. Unsettled, Sarah throws the egg’s contents in the kitchen sink, but the glistening embryo is alive; it opens its beak and pecks at her fingers.
This scene of fertility gore succinctly and excellently conveys the film’s central source of horror. Sarah, a successful corporate lawyer, has a Lazarus moment while giving birth. During a brief otherworldly sojourn, the Moogai enters her life to do what the Moogai apparently are known to do: steal children.
Soon, Sarah’s petrified daughter Chloe (Jahdeana Mary) is mumbling about having seen “that man with the long arms”. Sarah’s estranged biological mother, Ruth (played by a forceful and fascinating Tessa Rose), counsels Chloe: “you look out for that Moogai, baby girl.”
Shari Sebbens plays the main character, Sarah. Elise Lockwood
Bloodless and thematically heavy
There’s a clear allegorical, or perhaps metaphorical, association between the demonic entity in The Moogai and the lurid racial policies of Australian governments with regards to the Indigenous. At the same time, the film is careful not to overstate or oversimplify its figurative qualities.
Sarah is, to be sure, an Indigenous woman fearing for the safety of her children, but she’s not a simple or stereotypical victim. She’s proudly bourgeois, supremely self-important and unabashedly horrible towards those who earn less money than her, including the long-suffering Ruth.
The Moogai is as much about class – and the horror wealthy folk have of things not always going their way – as it is about maternity, Indigeneity, mental illness and intergenerational conflict.
It is perhaps due to the these hefty topics that the film starts to become, as it were, somewhat weighty in its second half. While it maintains a degree of dread and includes a few scary moments, its interest in horror recedes. There are, much to my sadness, no scenes of blood and gore – not even when the minor character Ray Boy (Clarence Ryan) is primed to get mauled by the Moogai.
The Moogai touches on a range of weighty topics from Indigeneity to intergenerational conflict. Elise Lockwood
A toned-down approach to horror
The final confrontation between the three generations of women and their ghostly tormentor strikes me as something from a fantasy or superhero movie. It seems, for whatever reason, the filmmakers decided to tone down the horror and opt for a restrained offering with an exceedingly positive and heart-warming ending.
This is a shame, really. If The Moogai had embraced the genre’s darker, more shocking aesthetics, it could have easily earned its place not only alongside recent Australian instant classics such as Talk to Me (2022), but also the year’s best horror films such as The Substance. But it has ultimately settled for a fairly bloodless tale of parental paranoia and cultural dissociation.
I’m confident viewers who appreciate serious movies with serious themes would approve of the film’s second half. But would these folk deign to see anything that resembles “horror” to begin with?
Here’s hoping the indisputably talented Jon Bell will continue to work in the genre – and engage with it more wholeheartedly in the future.
Bell’s directorial debut falls short of embracing the darker side of the horror genre. Elise Lockwood
The Moogai is out in cinemas from October 31.
Ali Alizadeh does not work for, consult, own shares in or receive funding from any company or organisation that would benefit from this article, and has disclosed no relevant affiliations beyond their academic appointment.
Source: United States House of Representatives – Congressman Chris Deluzio (PA-17)
CARNEGIE, PA — Today, Congressman Chris Deluzio (PA-17) announced that Shaler Township, a community in Pennsylvania’s 17th Congressional District, is receiving $4.3 million in a federal investment for water infrastructure improvements. Specifically, the project will replace defective infrastructure in the Township’s public sewer system through PENNVEST low-interest financial assistance loans.
“It’s simple: the good people of Shaler Township need a dependable water system. I’m proud to see these federal dollars come home to make sure Shaler’s water is safe,” said Rep. Chris Deluzio. “I came to Congress to make life better for folks in Western PA, and fixing our infrastructure—like this project funded through the Infrastructure Law—is a big part of that work.”
The project will repair 30,000 feet of defective sewer lines, rehabilitate 177 manholes through direct excavation and in situ lining, and install 29 new manhole structures. This project will help Shaler Township meet water safety standards, as it pulls the Township into compliance with the infiltration and inflow Consent Order with the Allegheny County Health Department.
The federal funding for this project comes from the Biden-Harris Administration’sInfrastructure Investment and Jobs Actand is awarded to Shaler Township through PENNVEST, a Pennsylvania State financing authority. The authority provides low-cost financial assistance to address water, wastewater, stormwater, and non-point source pollution problems in local water systems that impact public health, safety, the environment, regulatory compliance, and economic development. PENNVEST’s two-part goal is to provide all Pennsylvanians access to clean water while also supporting the Commonwealth’s economic development.
Source: United States House of Representatives – Congresswoman María Elvira Salazar’s (FL-27)
WASHINGTON, D.C. –Rep. María Elvira Salazar (R-FL) joined Rep. Brittany Pettersen (D-CO) in introducing two bills to give critical support to caregivers across the United States who selflessly support their families. U.S. Senators Susan Collins (R-ME) and Mark Warner (D-VA) introduced the Senate versions of these bills.
The Improving Retirement Security for Family Caregivers Act (H.R. 9765) and Catching Up Family Caregivers Act (H.R. 9764) would help address the financial challenges faced by individuals who leave the workforce to care for loved ones, often sacrificing their own long-term financial security. Our family caregivers need as many tax breaks and incentives as possible to help navigate the challenges they face while supporting their family.
“Caregiving is one of the most important jobs, but our current policies penalize selfless Americans who look after their loved ones,” said Rep. Salazar. “I’m proud to co-lead the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act, which will reward caregivers with new opportunities to secure a dignified retirement.”
The Improving Retirement Security for Family Caregivers Act would allow family caregivers to contribute up to $7,000 annually to a Roth IRA, even if their income falls below that threshold. Current law caps contributions at the lower of $7,000 or yearly income, limiting caregivers’ ability to save for retirement when their earnings are reduced due to caregiving responsibilities. By eliminating this income cap for family caregivers, the bill would help to ensure that they can continue to save for retirement despite their reduced wages.
The Catching Up Family Caregivers Act would allow family caregivers to make catch-up contributions to employer-sponsored retirement plans, an option typically reserved for those over age 50. For every year they are out of the workforce, caregivers could be eligible for an additional year of catch-up contributions, up to a maximum of five years. This provision would help caregivers who miss critical savings years get back on track with their retirement planning.
Both bills are supported by the Alzheimer’s Association, the Edward Jones Grassroots Task Force, the Society for Human Resources Management (SHRM), the Insured Retirement Institute, and the National Alliance for Caregiving.
“Caregivers do some of the most important but under-appreciated work in our country,” said Rep. Pettersen. “Caregivers do everything from cooking meals, administering medications, paying bills, and driving their loved ones to frequent medical appointments. Caregivers often take a significant financial hit when they take time out of the workforce to prioritize their loved ones and many struggle with their own financial security and ability to save in the long term. These two pieces of legislation make it easier for caregivers to save for retirement, ensuring they can take care of their own financial health while caring for their family.”
“Family caregivers provide critical support to their loved ones, yet many are forced to step away from work, significantly inhibiting their ability to save for retirement,” said Senator Collins. “Our bipartisan bills would give these individuals a better opportunity to build a secure financial future and help ensure they are not penalized for the vital care they provide.”
“Family members often make tremendous sacrifices to leave the workforce and care for their aging relatives, and as a result, they miss out on key years of saving for their own golden years,” said Senator Warner. “We need to make it easier for those folks to continue their essential care work while also securing their own financial futures. I’m proud to introduce bills that would give these family caregivers the flexibility to continue contributing to retirement accounts so it’s easier for more people to care for aging relatives without obstructing their own ability to retire with dignity.”
“Caring for a loved one living with Alzheimer’s or other dementia too often takes a devastating toll on caregivers, with many experiencing substantial emotional, financial and physical difficulties,” said Robert Egge, Alzheimer’s Association Chief Public Policy Officer and AIM president. “These two bipartisan bills will support our nation’s dementia caregivers by improving access to retirement resources that can help offset some of the financial challenges faced by families impacted by this disease. Thank you to Sens. Collins and Warner for introducing these bills and for your dedication to the Alzheimer’s community.”
“Edward Jones is grateful for Senator Collins’ leadership in introducing the Improving Retirement Security for Family Caregivers Act and Catching-up Family Caregivers Act,” said Dr. Lamell McMorris, Principal and Head of Policy, Regulatory & Government Relations for Edward Jones. “We know through our experience, that caregivers make significant sacrifices in providing care to loved ones, which can impact their personal financial security and retirement readiness. We believe that this bipartisan legislation will provide savings opportunities to improve the financial futures of millions of Americans and their families.”
“Business leaders and HR professionals are responsible for designing and implementing benefit plans that meet the needs of their team members. However, too often, caregiver support is not considered. People are living longer, and workers are caring for both children and elderly parents simultaneously. If we intend to lead with empathy, providing employees with the opportunity to care for ill, injured, or aging loved ones must be a priority,” said Emily M. Dickens, Chief of Staff and Head of Public Affairs, SHRM. “That is why we are honored to support the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act. SHRM is pleased to see the bipartisan progress in Congress being made to help employees reconstitute their retirement nest egg after a period of intensive caregiving.”
“Family caregivers often pause their careers and retirement savings to provide essential care for loved ones, a service vital to both families and the economy. However, this time away from paid work can result in reduced income and benefits, potentially leading to future financial difficulties, particularly in retirement,” said Jason Resendez, CEO & President of the National Alliance for Caregiving. “If enacted, the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act would represent progress towards acknowledging and addressing the economic sacrifices too many family caregivers make.”
BACKGROUND:
Women often take time away from careers to care for their families, resulting in a significant loss to their retirement savings. According to the Center for American Progress, an average 26-year-old female making $60,000 a year who leaves the workforce for five years to care for her children will lose close to one million dollars over her lifetime due to lost retirement assets and wage growth. A recent study from the Edward Jones Grassroots Taskforce found that 64 percent of women say their caregiving duties have negatively impacted their ability to save towards their long-term financial goals. Those taking care of an aging parent often face similar repercussions to being a family caregiver. In 2020, AARP found that three in ten caregivers have stopped contributing to their savings. Therefore, these proposals would allow those who dedicate at least 500 hours to family caregiving and are unemployed or severely underemployed the ability to contribute to their retirement now and later.
Click here to read the full text of the Improving Retirement Security for Family Caregivers Act.
Click here to read the complete text of the Catching Up Family Caregivers Act.
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Question for written answer E-002220/2024 to the Commission Rule 144 Radan Kanev (PPE), Wouter Beke (PPE), Stefan Berger (PPE), Markéta Gregorová (Verts/ALE), Bernard Guetta (Renew), Miriam Lexmann (PPE), Nicolás Pascual De La Parte (PPE), António Tânger Corrêa (PfE), Sebastian Tynkkynen (ECR), Axel Voss (PPE), Lucia Yar (Renew)
Both the Draghi report on Europe’s global competitiveness and the new European defence industrial strategy[1] have uncovered significant gaps in Europe’s industrial capacity. These gaps have led to Europe being economically dependent on high-risk non-EU countries. This poses credible threats to the security of the EU and the wider Schengen area. One such threat is Chinese cyber warfare, including espionage and alleged data theft through China-produced scanning equipment at the EU’s external borders.
1.Will the Commission support the development of European ‘champions’ and EU-based partnerships with trusted allies to provide border scanning equipment and services that are controlled and inspected by the EU?
2.Is it the Commission’s view that the Customs Control Equipment Instrument funds could be extended to include defence products, for instance by classifying border scanning equipment as defence-related, and achieving this through transparent award procedures?
3.Will the Commission take steps to ensure that border and customs control scanning equipment is procured solely through transparent public tenders, restricted to EU companies and EU-based partnerships, thereby guaranteeing the security of EU and Schengen area borders as well as cybersecurity?
