Pennsylvania Governor Tom Wolf announced new COVID restrictions last week that banned the sale of alcohol on the evening before Thanksgiving and defended his administration’s actions by blaming the virus and not his dictatorial ruling. “The virus is what’s doing this,” he said, according to The New York Times. “It’s not me, and it’s not the...
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GLOBAL ECONOMIC TRENDS
POST-ELECTION BOND RALLY INCREASES NEGATIVE-YIELDING DEBT. The settlement of the U.S. election sparked a rally in the bond market, raising the global total of bonds carrying negative interest rates to a record $17.05 trillion, the Financial Times reported. During the economic shutdown, governments and corporations issued a flurry of new bonds, including many in European...
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AZERBAIJAN FORCES CLOSE IN ON NAGORNO-KARABAKH
The weeks-long conflict that erupted in Nagorno-Karabakh between Azerbaijan and Armenia resulted in 90,000 civilians fleeing the area, as Azeri forces advance on the key strategic town of Shusha. Zaur Mammadov, Chairman of the Baku Club of Political Scientists, a think tank, told the Wall Street Journal this is “the most important moment now in...
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ARMENIA APPEALS TO RUSSIA IN NAGORNO-KARABAKH CONFLICT
Armenian Prime Minister Nikol Pashninian appealed to Russian President Vladimir Putin to provide security assistance while fighting continues over Nagorno-Karabakh, which would be seen as a major development in the conflict and could result in a showdown with Turkey. The Associated Press reported last Saturday that the Kremlin was yet to respond to Pashninian’s request....
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GLOBAL ECONOMIC TRENDS
AUTOMATION THREATENS JOBS AS NEW SHUTDOWNS TAKE HOLD. With politicians closing – again – sectors of their states’ and nations’ economies to blunt the latest surge in COVID cases, companies are rushing the adoption of automating technologies that will let them maintain production without human workers, according to a new study by the World Economic...
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ARMENIAN-AZERI PEACE DEAL BROKEN
U.S. Secretary of State Mike Pompeo met with leaders from Armenia and Azerbaijan last Friday to calm the boiling tension in the region over the Nagorno-Karabakh conflict. The Associated Press reported the U.S.’s top diplomat met with the foreign ministers of the neighboring countries in Washington, D.C. He aimed to get the leaders to agree to...
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ISRAEL APPROVES 4,000+ NEW SETTLER HOMES
Israel’s plan to build over 4,000 new settler homes in the West Bank prompted European countries to voice their concerns about the move and its effect on stability in the region. France, Germany, Britain, Italy, and Spain issued a joint statement that called the expansion of settlements a violation of “international law and further imperils...
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GLOBAL ECONOMIC TRENDS
BILLIONAIRES GAINED WEALTH DURING THE ECONOMIC SHUTDOWN, During the pandemic, the wealth of the world’s billionaires grew by 13 percent to reach $10.2 trillion, topping $10 trillion for the first time, according to a study by UBS and accounting firm PwC. The previous record was $8.9 trillion at the end of 2019. Between 7 April...
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ARMENIA VS. AZERBAIJAN: SPREADING WAR
The conflict between Armenia and Azerbaijan continued to destabilize the region last week, with Armenian President Armen Sarkissian warning the area could continue to descend into the abyss and become a “new Syria.” Sarkissian said Turkey has emerged as a “bully in the region” and has pushed aside Russia from its role as a mediator...
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CAUCASUS WAR: THE DEADLY FUTURE
Top world powers issued a joint statement last week condemning “in the strongest terms” the recent escalation in southern Caucasus (located on the border of Eastern Europe and Western Asia) that has led to mounting casualties for Armenia and Azerbaijan. The U.S., France, and Russia have called for a ceasefire after a recent breakout of...
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