news.com.au — Australia’s leading news site>news.com.au — Australia’s leading news site, UN Secretary-General António Guterres urged the world to, That’s thanks to a rational pandemic response and the success of the JobKeeper program, he adds, recent analysis of the struggling Pacific fishing industry finds, a World Meteorological Organisation report states, argue Flinders University biodiversity researchers Frederik Saltre and Corey Bradshaw. And that temperature boundary is likely to be breached by 2024. The overall economic drop in 2020 was more than double in 2009, when U.K. GDP declined 4.1 percent due to the worldwide financial crisis. As in, the markets are actually factoring in negative interest rates for 2021. Following the coup, Myanmar’s economy is facing significant risks of a collapse and the level of impoverishment has not been seen in the country since 2005, the United Nations Development Programme (UNDP) recently revealed in a report. “Vaccines do not equal zero COVID,” he said. UN Secretary-General António Guterres urged the world to “stand with people in their darkest hour of need”. In terms of physical health, “Sixty-one percent of U.S. adults report undesired weight changes since the COVID-19 pandemic began.” This will only exacerbate the diabetes pandemic that has been ravaging more countries every year. Other than … May 10, 2021 May 10, 2021 by Michael Snyder. The U.S. dollar will crash in value by the end of 2021, according to senior Yale University economist Stephen Roach. The so-called “Gig Economy” has beleaguered millions. He also said the probability of a double-dip recession is now over 50%. Asia Apr 17th 2021 edition. Members of the Fire Department rescue locals from banana fields following the passage of Hurricane Eta, in the El Progreso sector, Yoro department, 240 km north of Tegucigalpa, on November 7, 2020. World Economic Outlook, April 2021: Managing Divergent Recoveries March 23, 2021 Description: Global growth is projected at 6% in 2021, moderating to 4.4% in 2022. [The homeless include the] homeless on the streets, shelter residents and couch surfers. One obvious sign of growing food stress is the way China’s fishing fleets are ranging far afield. Without large-scale, government employment programs the Pandemic Recession is projected to cause twice as much homelessness as the 2008 Great Recession. Businesses are beginning to face the challenge of producing adequate supplies of goods and services — … WHO emergency response expert Mike Ryan says complacency presents a real risk. In April 2021 Business Insider stated that, “roughly 80,000 stores are doomed to close in the next 5 years as the retail apocalypse continues to rip through America.”  The real figure is likely higher. Corn Prices Are Up Roughly 50% In 2021 As Americans Brace For Years Of Horrific Food Inflation. April 26, 2021. tonytran2015. The situation, however, is much more dire in Africa and South America. Acting Finance Minister Heba Mohamed (Social media) The Economic Committee of the Forces for Freedom and Change (FFC) has warned that the 2021 National Budget approved by the Council of Ministers last week will lead to an economic collapse of the country. The Federal Reserve reports that 37 percent of Americans in 2019 did not have $400 to cover an unanticipated emergency. Allowing major decisions to be made by a historically superfluous financial oligarchy is not the way forward. Anger Simmers Over Syria's Economic Collapse, but Assad Appears Secure . “This is a global crisis, and the solutions must be shared equitably as global public goods.”, Jamie Seidel is a freelance writer | @JamieSeidel. (emphasis added). The social and economic consequences can already be seen across the world, he said. I … Picture: Philip FONG / AFP.Source:AFP. And that could trigger a global shortages and economic shockwaves. And privatization schemes around the world are just making conditions worse for the majority of people. But it’s the disasters that are grabbing the headlines. Millions of college faculty have also suffered greatly over the past year. As a result, he said, “multiple” famines are looming. And if you think Australia won’t be affected by all this, think again. Burmese blaze Myanmar is on the brink of collapse. We are on the cusp of a massive economic contraction and a total reset of the global economy. And Brazil. And Antarctica’s glaciers are accelerating their slide into the oceans. Flood. Share in Twitter. By The Irrawaddy 11 May 2021 . The end of 2020 will be welcomed but an expert has warned that 2021 is “literally going to be catastrophic”. “Climate fluctuations that used to take millennia are now occurring in less than 100 years, affecting freshwater availability, food supply, health, and environmental integrity,” argue Flinders University biodiversity researchers Frederik Saltre and Corey Bradshaw. To add insult to injury, we are told that there is no alternative to this outdated system, and that the goal is to strive for “inclusive capitalism,” “ethical capitalism,” “responsible capitalism,” or some other oxymoron. There is tremendous economic carnage and pain out there, and the scarring and consequences are going to linger for some time. Prices are going up so fast that even the … In-Depth Coverage . Lebanese face risks of social unrest, economic collapse in 2021 The warning comes as Lebanon is wrestling with an economic meltdown, caused by decades of corruption and mismanagement, and a crashing currency that has lost more than 80% of its value A general view shows Martyrs' Square in downtown Beirut, Lebanon August 20, 2020. After adjusting for inflation, real wages decreased at over two-thirds of colleges and universities. “We’re not going to be able to fund everything ... so we have to prioritise,” he said. A new problem is about to hit – and hard. And that can be seen in prices, and reliability of supply. The UN Office for the Coordination of Humanitarian Affairs predicts a record 235 million people will need humanitarian assistance and protection next year. Misery loves company. A medical staff member in Texas places her hands on a deceased patient's hands before put the patient into a body bag in the COVID-19 intensive care unit (ICU) Picture: Go Nakamura/Getty Images/AFP.Source:AFP. The world is more interdependent and interconnected than ever. “Past climate changes set the stage for people to demonstrate immense adaptability and resilience by developing new skills, farming techniques, trading patterns and political structures, but most importantly by leaving their old, unsustainable ways of life behind.”, “Progress on vaccines gives us all a lift, and we can now start to see the light at the end of the tunnel,” Mr Tedros told the world assembly. There is no way for the massive wealth of society to be used to serve the general interests of society so long as the contradiction between the socialized nature of the economy and its continued domination by competing private interests remain unresolved. Among younger adults, ages 18 to 34, some 59 percent said they had delayed a financial milestone. Growing poverty, hunger, homelessness, unemployment, under-employment, debt, inequality, anxiety, and insecurity are real and painful. Lebanon's economic collapse in numbers A protester holds a Lebanese flag, as he walks on a blocked main road that leads to the Central Bank during a protest against the increase in prices of consumer goods and the crash of the local currency, in Beirut March 16, 2021. Tens Of Millions Of “Working Poor” Americans Are Suffering Very Deeply Due To Biden’s Economic Policies | The Economic Collapse | Truth2Freedom’s Blog. How can you weather the coming storm? Homelessness in the U.S. is also increasing: COVID-driven loss of jobs and employment income will cause the number of homeless workers to increase each year through 2023. (emphasis added, January 1, 2021). This leaves many of our crops at risk of rotting in the fields. Australia has experienced extreme bushfires. 16 Mar 2021 Lebanon: Aid to be disbursed in dollars as Lebanese pound crashes The EU, UN and World Bank have confirmed a deal to disburse aid in dollars, Reuters news agency reported. Residents say lines for bread across government-controlled areas can run up to five hours long as wheat imports dwindle. Working in concert, and contrary to the lived experience of millions of people, many newspapers are declaring miraculous “economic growth rates” for country after country. This article examines the 2020 economic and financial background to likely developments in 2021 … The rich and their representatives are unfit to rule and have no real solutions for the recurring crises caused by their outmoded system. 1/2) “In 2020, over 50 million people have been doubly hit: by climate-related disasters (floods, droughts and storms) and the COVID-19 pandemic,” a World Meteorological Organisation report states. The Economic Committee of the Forces for Freedom and Change (FFC) has warned that the 2021 National Budget approved by the Council of Ministers last week will lead to an economic collapse … Picture: Orlando SIERRA / AFP.Source:AFP. What happens in one region necessarily affects other regions. And Siberia. The assault on economic science and coherence is intense. The coronavirus pandemic’s economic collapse in the UK is severe, worst in three centuries. Australia is in an ideal position for recovery, says ANU Crawford School of Public Policy researcher Peter Martin. “Getting back to the pre-Covid standard will take time,” said Carmen Reinhart, the World Bank’s chief economist. Argentina, Lebanon, Colombia, Turkey, Brazil, Mexico, Jordan, South Africa, Nigeria, and dozens of other countries are all experiencing major economic setbacks and hardships that will take years to overcome and will negatively affect the economies of other countries in an increasingly interdependent world. All we are left with are recurring economic crises that take a bigger and bigger toll on humanity. https://truth4freedom.wordpress. They are focused mainly on depriving people of an outlook that opens the path of progress to society. This year, that figure was 170 million. That is a reflection of the fact that the COVID pandemic has wreaked carnage across the whole of the most fragile and vulnerable countries on the planet,” Lowcock said. “Casino capitalism” is intensifying. Lowcock warns that the “obscene” chance of global famine in 2021 would inevitably lead to war and civil unrest. The COVID pandemic already saw food shortages and there will be more to come. It is ushering in a “new poor” profile that is more urban, better educated, and reliant on informal sector work such as construction, relative to the existing global poor (those living on less than $1.90/day) who are more rural and heavily reliant on agriculture. The upward revision reflects additional fiscal support in a few large economies, the anticipated vaccine-powered recovery in the second half of 2021… At no other time in U.S. history has such a calamity on this scale happened. This has never happened before. Desperation to convince everyone that all is well or all will soon be great is very high. “Apocalyptic fires and floods, cyclones and hurricanes are increasingly the new normal,” he said. COVID had produced “new spikes of conflict in places that were previously more peaceful. And according to Reuters, “Overall, global FDI [Foreign Direct Investment] had collapsed in 2020, falling by 42% to an estimated $859 billion, from $1.5 trillion in 2019, according to the UNCTAD report.” UNCTAD stands for United Nations Conference on Trade and Development. 20 million borrowed from friends or family. 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