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Is America experiencing a “social recession”?

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documents a Dip in sex, friends and confidence. Here are some points that I found important. I’d think of church membership in America as pretty much a flat 70%. This has been true for decades but not recently:

Here’s another trend, puberty stretching. We treat young people more and more like children, and in many respects they are similar to children of previous years.

There have been several psychological features of “delayed adulthood” that are common among those born from the 1990s onwards. Many major milestones—getting a driver’s license, moving out of the house, dating, starting a job, etc.—have been delayed for many young adults.

The trend became evident starting in the 2000s. In 2019, it was compiled into a comprehensive study titled Declining adult activities among American adolescents, 1976-2016.

See Cebalo more.

the post Is America experiencing a “social recession”? Debuted marginal revolution.

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California storm leaves more than 330,000 without power, more severe weather ahead By Reuters

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© Reuters. FILE PHOTO: Capitola Wharf damaged by the storm’s severe waves is seen in Santa Cruz, California, United States, on January 5, 2023, in this screenshot obtained from a social media video. Kelly Pound/via Reuters

(Reuters) – Heavy rains and damaging winds knocked out power to hundreds of thousands of homes and businesses in California late Sunday as the region prepared for the next onslaught of severe weather.

More than 330,000 homes and businesses were reported to still be without power in California as of 3:08 a.m. EDT (8:08 GMT) Sunday night, according to data from PowerOutage.us.

At least six people have died in the bad weather since New Year’s weekend, including a child who was killed by a falling redwood tree and crushing a mobile home in Northern California.

Meanwhile, meteorologists have warned that another “atmospheric river” of thick, moist tropical air will hit California on Monday with mountain rain and snow.

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An NWS weather warning Saturday warned that the cumulative effect of back-to-back heavy rain storms since late December could cause rivers to rise to record levels and cause flooding across much of central California.

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Mercedes expects double-digit growth in India in 2023 despite weak rupee by Reuters

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© Reuters. FILE PHOTO: Various models of Mercedes-Benz cars are parked at the company’s car assembly plant in Chakan, outside Pune, India June 11, 2015. REUTERS/Danish Siddiqui/File Photo

Written by Aditi Shah

NEW DELHI (Reuters) – Mercedes-Benz expects double-digit sales growth in India this year, the head of its domestic unit Mercedes-Benz said in an interview, despite concerns that a weak rupee could push up car prices.

The German luxury automaker’s sales in India rose 41% last year to 15,822 vehicles, an all-time high in the country, and it has a backlog of orders of around 6,000, Santosh Iyer, managing director of Mercedes-Benz India, told Reuters.

He said that one of the risks to the growth of the luxury car market in India is the weakness of the Indian currency, which could force Mercedes to increase domestic prices as the prices of imported components rise.

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The rupee fell 10% against the dollar in 2022, its biggest decline since 2013, making it one of the worst-performing Asian currencies.

“One of the biggest risks we see for us is the exchange rate. With the rupee weakening a bit more, that will lead us to more price increases. And that’s some of the headwinds that we see when it comes to growth potential,” Iyer said.

“But we are starting the year with a very healthy order bank and that gives us confidence of double-digit growth even in 2023,” Iyer said.

Mercedes plans to launch 10 new cars in India in 2023, most of which cost more than 10 million rupees (US$120,000), the high-end segment which grew by 69% in 2022. The new launches will include petrol cars, electric cars and plug-in electrics. – in hybrids.

The company launched three electric cars in India in 2022 including a locally assembled electric model of the S-class sedan. Electric cars have seen strong demand, with Indian customers waiting four to six months after reserving their cars. Iyer wants to reduce this to two to three months before more EVs are launched.

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Electric vehicle market in India is gaining momentum – Renault Reuters reported on Friday that (EPA:) is considering building a mass-market electric vehicle domestically, in a renewed push to a market where sales of these vehicles are expected to grow rapidly from a small base.

local automaker Tata Motors (NYSE::) and foreign players like Stellantis and Hyundai Motor have also launched EVs.

Ayer said Mercedes has seen a decrease in global semiconductor shortages, but it still faces some disruptions due to spare parts shortages and shipment delays due to geopolitical issues, the energy crisis in Europe and pandemic-related lockdowns in various parts of the world.

He predicted that it would take 12 to 18 months for the situation to return to normal.

($1 = 82.5410 Indian rupees)

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The Immigrant Investor Program in Ireland attracts wealthy Chinese

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George smiles broadly as he sips a pint of Guinness in a cozy Dublin pub, enjoying the famous warmth of the land of céad míle fáilte (100,000 welcomes). As one of the increasing number of Chinese nationals investing in Ireland in exchange for residency, he has every reason to feel at home.

Georges, who asked that his real name not be revealed, has invested 1 million euros in it Ireland He said China’s uncertain economic outlook has led wealthy individuals like himself to seek additional residence options abroad. “I am worried about the future in China,” he said.

The popularity of the Immigrant Investor Program (IIP) in Ireland has skyrocketed for a decade in 2022, with a number of potential investors from China more than tripled to 785 in the nine months through September, from 243 in all of 2021. Applications from all countries registered a record high of 812, nearly double the annual record set in 2019.

Since the scheme began in 2012, Chinese investors, including those from Hong Kong, have accounted for more than 90 percent of successful applicants and €1.18 billion has been invested in total.

At previous national congresses of the Communist Party of China, “the key word was ‘economic growth.’ But the buzzword of the 20th Congress [in October] It was a “struggle”. said the head of an Ireland-based fund, focused on the hospitality sector, where George has invested 1 million euros. The CEO of the fund asked not to be identified.

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He added, “The middle class and above worry about what it means for them, for their fortunes, for their careers, for their family.”

Vertical chart showing Chinese investor residency applications in Ireland

Ireland is becoming an increasingly tempting choice, in part due to problems with similar schemes elsewhere. Brexit made the UK a less attractive option even before London in February discontinued its Immigrant Investor Program Due to security concerns, the US scheme has also been suspended for several months.

“We’ve seen a huge jump [in IIP investments in Ireland] “My hunch is that this is because of Brexit,” said Niamh Walsh, who runs TDL Horizons, which focuses on hotel and tourist property sales, in County Donegal, and which has worked with IIP clients, since 2017.

Other factors such as education and the country’s friendly reputation have made the English-speaking EU member state a desirable choice for investors like George.

Nearly three years of harsh coronavirus restrictions—only Relax in December It was another factor in wealthy Chinese seeking residence abroad. “You can definitely draw a relationship there,” said James Hartshorn, CEO and co-founder of Bartra Wealth Advisors, a leading international investment fund, whose portfolio includes social housing and nursing homes.

Many countries have schemes offering residency or even passports in exchange for investment, Hartshorne said, but Ireland’s success has been making FDI investment “a tool for channeling investment into areas of the economy that really need it”.

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“Because of the cost of capital, the interest rate goes up and the cost of goods goes up[which could slow investment in those sectors]. . . The program is more important now than it used to be,” he said.

applicants have Four modes are availableThey can invest 1 million euros in an Irish project, invest 1 million euros in an approved investment fund or invest 2 million euros in a listed REIT – all for at least three years. Or they can donate €500,000 – or €400,000 if applications are submitted jointly by five people – to an arts, sport, culture or education project.

Peter Fitzpatrick, the Irish Dale MP from County Louth and former Gaelic footballer, has raised nearly €15m from Chinese IIP investors to build the first Gaelic games ground in his county in 60 years.

“We got an agent with contacts in Asia and we got 37 applicants willing to invest 400,000 euros,” he said. Maybe we could raise the money [without IIP] But not as quickly. It’s a dream come true.”

A view of County Donegal in Ireland
Ireland is becoming an increasingly tempting choice for investors, in part due to problems with similar schemes elsewhere. © Gareth McCormack / Alamy

Both Georges, who has been running an environmental monitoring business in China remotely, and Helen, a lawyer who also asked that her real name not be used and who has invested €500,000 in the same fund, say education has been a big motivator. George has a son who is in high school and Helen has one who is in university in Ireland.

Walsh said the “big benefit” is that investors only spend one day a year in Ireland. They do not lose residence in their countries of origin. However, the IIP does not give investors the right to a passport.

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Investors need to maintain the investment for at least three years. Then they can sell their investment and retain residency status, but they have no further investment obligation, said the hospitality-focused fund’s chief executive.

Although Chinese demand is driving the international investment programme, orders from the United States have also increased. “It took everyone by surprise,” said Hartshorn. “The main reason I heard has to do with the political situation in the United States. [Former president Donald] Trump has a lot of people worried, there is polarization and anxiety about where things are going. There are huge historical links between Ireland and the United States, so it allows Americans to go back to their roots.

The number of applicants in the United States, usually about five or fewer since the launch of the IIP, has doubled to 11 so far last year. The program has seen 31 successful applicants from the United States since 2012 and 1,511 from China, with a large number of investors also from Vietnam, Saudi Arabia and South Africa.

The chief executive of a hospitality-focused fund said Chinese investors, who come from a country where there is no Google, no Facebook, and news largely from official sources, “really appreciate the freedom” Ireland offers. But whether it can continue to attract the same volume of wealthy applicants depends on “where China goes from here” economically and politically.

He added, “Ireland was a ‘kept secret’ in Europe.” . . Now it has been discovered.”

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