Home

Real World Economics: Doom for dollar in international trade is overblown

Published Fri, 21 Feb 2025 09:58:00 GMT

Little has changed in international currency issues since last week. The BRICS conference was held, and six new countries added. Then everyone went home with nothing really done. Exchange rates have changed little nor have trade flows. But what about these variables in the longer-run for our nation’s currency? Is it, and are we, “doomed” as some pundits fret or is that a phantom menace? Why or why not?Edward LottermanRemember that there are two aspects to the international status of the U.S. dollar.One is as a common settlement currency used by many nations in paying for imports or exports or in borrowing, whether by governments or businesses, or in their paying principal and interest on existing debt. The analogy in terms of “functions of money” learned in introductory econ is as a “medium of exchange” between countries.The other aspect is the dollar’s function as a “store of value” internationally. Do citizens of other countries, or businesses, or governments themselves or their c...

Man shot to death and found lying outdoors in Frogtown early Sunday

Published Fri, 21 Feb 2025 09:58:00 GMT

St. Paul police are investigating the death of a man who was found shot near Sherburne Avenue and Mackubin Street North early Sunday.Officers were called to the 400 block of Sherburne just before 2 a.m. on reports of shots fired. They found a man with multiple gunshots lying in the street. He was pronounced dead at the scene.Authorities will release the victim’s name after the Ramsey County medical examiner’s office confirms his identity.This is the city’s 24th homicide of the year, according to police.Authorities ask anyone with information to call 651-266-5650.Related ArticlesCrime & Public Safety | Hastings man dies in car crash on Highway 55 Friday night Crime & Public Safety | St. Cloud police are latest agency to withdraw school resource officers over opposition to use-of-force limits Crime & Public Safety | St. Cloud lawmaker to plead guilty in July DWI case in Kanabec County Crime & Public Safety | ...

Highest paying jobs in St. Louis for high school graduates

Published Fri, 21 Feb 2025 09:58:00 GMT

A high school diploma gives graduates a leg up in the workforce, even if they don't pursue any further education.The latest Bureau of Labor Statistics data shows that workers over age of 25 with a high school diploma or equivalent earned about 25% more than those without one—$853 a week compared to $682. Diploma holders also faced lower unemployment rates, at 4% in 2022, compared to 5.5% for those who never completed high school.There are many reasons high-school graduates may choose to not continue on to college—for instance, the cost. Average tuition costs continue to rise, increasing by 1% to 4% last year, depending on the institution type. While higher degrees of education typically pave the way for higher earnings, a college degree isn't necessary for many high-paying jobs. And for many careers, it doesn't make sense to pay to study for years when there are paid apprenticeship or learn-on-the-job programs.Stacker used Bureau of Labor Statistics data to find the highest-paying j...

Chips, romaine lettuce, and other groceries that rose in price in the Midwest last month

Published Fri, 21 Feb 2025 09:58:00 GMT

After more than a year of historical inflation, grocery prices are staying relatively steady. Prices fell in March and April for the first time since September 2020 and have changed little since. In July, the cost of groceries inflated 0.3% over June prices.The drop earlier this spring was largely fueled by decreases in eggs—which had risen dramatically in price—as well as meats, fruits and vegetables, and dairy products.The overall cost of groceries in July remained up 3.6% from 2022 after historically high inflation in the past couple of years following a series of major social and economic events, including the COVID-19 pandemic, Russia's invasion of Ukraine, labor disruptions, and heightened consumer demand. Overall, inflation has finally somewhat cooled after continuous interest rate hikes from the Fed, and grocery inflation appears to be doing the same.Despite the lull, groceries in some categories continued to climb. Stacker used monthly data from the Bureau of Labor Statisti...

Video: jewelry store employees fight back against robbery suspect who allegedly sprayed them with bear repellent 

Published Fri, 21 Feb 2025 09:58:00 GMT

Southern California is no stranger to smash-and-grab robberies, but an attempted theft in El Monte didn’t go as planned for one man, and his encounter with employees was all caught on video. According to the El Monte Police Department, the suspect entered Meza’s Jewelry, located at 10909 Main Street, around 2:20 p.m. Saturday afternoon. The man allegedly sprayed employees and customers with bear repellent spray and then proceeded to smash display cases and attempt to take merchandise. Things took a turn when the employees “engaged the suspect” according to El Monte police, and a struggle ensued. (Instagram/@SGV)Things took a turn when the employees “engaged the suspect” according to El Monte police, and a struggle ensued. (Instagram/@SGV)Things took a turn when the employees “engaged the suspect” according to El Monte police, and a struggle ensued. (Instagram/@SGV)Things took a turn when the employees “engaged the suspect” according to El Monte police, and a struggle ...

Police investigating shooting death of man in South Los Angeles

Published Fri, 21 Feb 2025 09:58:00 GMT

A man was shot in South L.A.’s Florence neighborhood early Sunday morning. According to the Los Angeles Police Department, units responded to the 100 block of West 71st Street at 1:07 a.m.  When they arrived on scene, they found a man suffering from multiple gunshot wounds. The victim, only described as a Hispanic man in his early 20s, was found in a vehicle and eventually pronounced deceased at the scene. No suspect information has been released. Anyone with information is urged to contact the LAPD. 

They said it: Sideshows and social media

Published Fri, 21 Feb 2025 09:58:00 GMT

“These events are fueled by social media. They are increasingly spread, consumed, and attended primarily for the purpose of generating content to gain social media notoriety.”— San Jose Mayor Matt Mahan, in a letter this week asking TikTok, Snapchat, Meta and other social media companies to stop posting videos of chaotic car sideshows that have caused injuries and deaths in Bay Area cities.

Programs help Sunnyvale residents get fit, eat healthy

Published Fri, 21 Feb 2025 09:58:00 GMT

Shape-Up SunnyvaleSunnyvale residents are invited to shape up with a free program designed to help them get active and cook healthier meals. Participants in Shape-Up Sunnyvale can join as an individual or family. Priority will be given to new participants and those enrolled in MediCal, Supplemental Security Income, Temporary Assistance for Needy Families, a free and reduced-cost lunch program and Special Supplemental Nutrition Program for Woman, Infants and Children.Through the program, funded by the El Camino Healthcare District, participants take home a healthy meal kit with recipe instructions each week and choose from a list of fitness activities.Email [email protected] to join the interest list or call 408-730-7800 for more information.Veggie RxThe city of Sunnyvale is inviting residents to join a free eight-week program to learn about healthy living. The welcome packet includes a workbook, cookbook, and voucher guide, and each participant is provided coupons for free fruits...

Concord: Kidnapping victim jumped from moving vehicle as suspect sexual assaulted her while driving, police say

Published Fri, 21 Feb 2025 09:58:00 GMT

CONCORD — A 24-year-old man has been arrested and charged with kidnapping and sexually assaulting a woman who bailed from his moving car to escape, authorities said.Edgar Ivan Mendoza-Uribe, of Vallejo, was charged with kidnapping, sexual battery, assault with intent to commit another crime and evading police, all felonies. He was also charged with a misdemeanor count of committing a hit and run. His bail has been set at $1.2 million.The details behind Mendoza-Uribe were distressing to police as well as the alleged victim, who called 911 after being pulled into Mendoza-Uribe’s vehicle, but was unable to articulate exactly what was going on. The dispatcher was met with the sound of her screaming at Mendoza-Uribe to stop the attack, followed by sounds consistent with a fight, authorities said.Police were able to triangulate the location of the call to an area of Concord, where an officer noticed Mendoza-Uribe’s vehicle traveling in excess of 100 miles per hour. Mendo...

Campbell’s History Happy Hour covers Moffett Field

Published Fri, 21 Feb 2025 09:58:00 GMT

History of Moffett FieldRetired US Navy Reserve Capt. John Mascali will discuss the history of Moffett Field at a Sept. 15 History Happy Hour at Campbell’s Ainsley House. Mascali is a member of the Moffett Field Historical Society.In 1933, the United States government established a Naval Air Station in what is now part of Sunnyvale and Mountain View. The site was later renamed NAS Moffett Field. The original mission of the Naval Air Station was to serve as a station for the dirigible, U.S.S. Macon.The talk will be held inside the Carriage House, next to the historic Ainsley House, at 51 N. Central Ave. Doors will open at 5:30 p.m. for light appetizers and beverages. The presentation will be from 6-7:30 p.m.Tickets are $15 at https://www.campbellmuseums.com/shop.Climate change grantsSanta Clara County is awarding up to $80,000 in funding to support community-based climate change mitigation and adaptation activities focused on extreme heat and poor air quality. The funding will help c...