A shuttered business is shown in the Brooklyn borough of New York City, the US. Photo: AFP
Sky-rocketing US federal debts, rock-bottom interest rates and concerns about an upcoming resurgence of the coronavirus pandemic coupled with the winter influenza are hyping up skepticism that the “K-shaped” economic recovery in the world’s largest economy is now an ongoing reality.
The bellwether of the economy’s health – the trading price of the US currency – is now near its lowest level in 28 months, down more than 10 percent from its 2020 peak against a number of its global peers.
On Friday, the Chinese currency, the yuan, jumped a massive 1.3 percent in onshore trading and hit a 17-month high against the US dollar, catching up with gains in its offshore counterpart during the week-long National Day holidays. Clearly, the yuan’s strength foretells the dollar’s decline.
The bearish investors of UBS, Goldman
LONG BRANCH, NJ — At Patch, we partnered with Ring doorbell security to find local heroes, people who are not thinking of themselves and simply trying to help others during the COVID crisis.
A reader nominated Donna Cetrulo, a volunteer with St. Vincent de Paul Society of Christ the King parish in Long Branch. Donna runs the food pantry for St. Vincent de Paul Society.
The economic fall-out from COVID — plus governors shutting down businesses — has resulted in a massive increase in the number of people needing help putting food on the table.
“We hit a high-water mark of 260 families in May, and since then our numbers have averaged about 180 families each Wednesday,” said Cetrulo. “It takes many people to keep the pantry stocked and ready to serve families in need. I do not know a more dedicated, harder-working group. It is they who deserves the