The weakness in Manhattan real estate prices and store vacancies that we have been reporting on in the Trends Journal over the past year have spread across the East River to Brooklyn. The dollar volume of real estate sales in Brooklyn last year dropped 30 percent from 2019, to $5.1 billion. The plunge was driven largely...
Tag: 28 January 2020
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IMF FORECAST CASTS SHADOW OVER DAVOS
The International Monetary Fund (IMF) told the World Economic Forum at Davos that it has revised downward its 2020 and 2021 growth forecast for the world’s economy, cutting this year’s outlook from 3.4 to 3.3 percent and next year’s from 3.6 to 3.4 percent. The glum forecast was mirrored by corporate executives attending the conference....
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EUROPE: POLICIES UNDER PRESSURE
The weakness of Europe’s economy in January has surprised analysts, but it comes as no surprise to Trends Journal subscribers. IHS Markit’s Purchasing Managers Index (PMI) for the region was stuck at 50.9 as the year began, unchanged from December. Observers had expected it to begin January at 51.2. The German economy’s strength early this...
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CHINA: BANKSTER BLUES
More banks need bailouts. China’s lax banking regulations have led to decades of bad loans, corruption, and mismanagement. Now, according to UBS Research, more than 24 of the nation’s banks need $339 billion in rescue funding to have 12.5 percent of their at-risk portfolio balanced by cash – the global standard for safe practice. Although...
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INDIA: MASS PROTESTS CONTINUE
On Sunday, millions of Indian citizens continued the two months-long protests against the passage of the Citizenship Amendment Act, spearheaded by Prime Minister Narendra Modi’s ruling Hindu nationalist party, which grants citizenship to religious minorities – except Muslims – from neighboring countries. Some seven million people in the state of Kerala formed a human chain that...
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CRYPTO BUG BITING BANKS = GOING CASHLESS
One in every ten of the world’s central banks is planning to issue a national cryptocurrency before 2023, according to a 2019 survey by the Bank for International Settlements. The number almost doubled for banks planning to launch digital currencies by 2026. In theory, national cryptocurrencies could be used to buy anything from fast-food burgers...
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BIG CHAIN “HEALTH HUBS” ON THE RISE
The retail giant Walmart is planning to open its second Health “super center” in Georgia this year. Walmart’s first Health center opened its doors last September in Dallas, GA. The 10,000-square-foot storefront offers primary care, lab work, X-rays and EKGs, optical and hearing services, mental health counseling, dental services, nutrition counseling, fitness guidance, and health...
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“SENOLYTIC” DRUG REVERSES KEY CAUSE OF AGING
As the human body ages, it accumulates a growing number of “senescent” cells that lose their ability to work properly or even go dormant. As more of these cells build up, the symptoms of ageing become more pronounced – everything from dementia to crepe-like skin. “Senolytic” drugs that could clear away senescent cells have been...
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IT’S ALIVE! (SORT OF)
Scientists at the University of Colorado at Boulder have created a form of concrete that can reproduce and can heal itself if damaged. Beginning with a particularly robust strain of bacteria, researchers mixed the bugs with sand and a hydrogel holding water and nutrients to feed the microbes. As the bugs flourished and multiplied, they...
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PFAS CONTAMINATION MORE WIDESPREAD
PFAS – perfluoroalkyl substances, a family of more than 5,000 hardy chemicals used to make products ranging from firefighting foam to waterproof mascara – have widely pervaded the U.S. water supply, according to a new study by the private, nonprofit Environmental Working Group (EWG). Several of the chemicals have been linked to liver damage, kidney...