Author: Chris Gorrie

Russia’s economic trajectory, ostensibly resilient in the face of geopolitical challenges and Western sanctions, is subject to concealed and profound deterioration, warns the Official Monetary and Financial Institutions Forum (OMFIF). Despite contrasting views on the impact of sanctions, the OMFIF contends that Russia is not as impervious as it may seem, and its economic resilience is overshadowed by latent issues that could perpetuate its decline and marginalize its global influence. Russia is Coping with Trade Restrictions Vyacheslav Argenberg/Wikimedia Commons The prevailing notion that Russia is weathering the storm is questioned by Michael Santi, a European economist, and former banker, who…

China, the world’s most populous country, is undergoing a profound demographic shift that has far-reaching implications for its economy and, subsequently, the global landscape. The recent announcement that China’s population has declined, coupled with forecasts indicating a further decrease, presents a complex set of challenges with economic, social, and geopolitical ramifications. China’s Aging Population Adsfghj./Wikimedia Commons The first major trend contributing to this demographic shift is the aging population. With over 20% of the population aged 60 and above, China is witnessing a significant increase in the proportion of elderly citizens.  This demographic shift poses economic challenges, particularly as a…

The influx of wealth from tech billionaires and venture capitalists into San Francisco politics has created a formidable political-influence machine, seeking to reshape the city’s policies.  Over the past six years, figures like William Oberndorf, Michael Moritz, Chris Larsen, David Sacks, Garry Tan, and Zachary Rosen have invested at least $5.7 million in pushing for tougher stances on crime and homelessness, as well as business-friendly and housing construction policies. Who is William Oberndorf? American Federation for Children William Ernst Oberndorf is a prominent American billionaire businessman and influential Republican political donor. He was educated at the University School in Cleveland,…

San Francisco is facing legal challenges from conservative groups over its Guaranteed Income for Trans People Program (GIFT).  Judicial Watch, known for previous legal action against diversity initiatives, filed a lawsuit, asserting that GIFT violates the equal protection clause of the California Constitution. What are Guaranteed Income Programs? Elvert Barnes/Wikimedia Commons Guaranteed income programs, distinct from Universal Basic Income (UBI), offer recurring, unconditional cash payments to targeted groups, aiming to provide economic support and a basic safety net. These initiatives gained prominence, particularly during the pandemic, as U.S. cities initiated pilot programs to assess their efficacy. Key points about guaranteed…

In the heart of New York City, Citibank, once seen as a symbol of financial stability, faces serious allegations from New York Attorney General Letitia James.  The lawsuit filed in the US District Court for the Southern District of New York accuses Citibank of neglecting to reimburse scam victims, leaving them exposed to financial devastation due to what is described as inadequate online security measures. Citibank’s Lax Security Protocols and Procedures Freelancers Union/Wikimedia Commons At the center of the legal battle is the claim that Citibank’s digital defenses, or lack thereof, have allowed unauthorized account takeovers, resulting in substantial financial…

President Joe Biden and former President Donald Trump have recently been the focus of investigations concerning the handling of classified documents.  The outcomes of these investigations, conducted by special counsels Robert Hur and Jack Smith, respectively, have led to contrasting conclusions. Let’s look into the nature of the documents, the rationale behind not charging Biden, the allegations against Trump, and think through the similarities and differences between the two cases. Biden’s Classified Documents and Memos The White House/Wikimedia Commons FBI agents discovered classified documents related to Afghanistan and handwritten memos in Biden’s Delaware garage.  Additionally, notebooks containing sensitive information from…

The departure of the United Kingdom from the European Union, colloquially known as “Brexit,” has triggered a waterfall of impacts on various fronts. Brexit has influenced not only the economy but also the lives of citizens on both sides of the English Channel. Let’s look at the aftermath of Brexit and assess its repercussions nearly three years post-departure and two years into the new relationship. Britain Exits the European Union UK Parliament/Wikimedia Commons The separation of the United Kingdom from the European Union, a formidable economic and political alliance of 27 nations, marked the conclusion of nearly 50 years of…

A 63-year-old man named Andrew Howard from Frankfort, Michigan, was convicted on federal charges after manually diverting a national park river. Howard diverted the Platte River through Sleeping Bear Dunes National Lakeshore to ease boat access on Lake Michigan. The conviction follows a trial that shed light on Howard’s actions and their impact on the national park’s ecosystem. Fisherman Diverts Platte River by Hand National Park Service Digital Image Archives/Wikimedia Commons In August 2022, Howard took matters into his own hands by using a shovel to manually alter the river’s course.  He removed sediment and rocks from the river basin,…

Famous player in the fast-food industry Chipotle is signaling substantial price increases for its California customers. This news comes following the recent approval of minimum wage hikes for fast-food workers in the state. Chipotle Price Hikes Deemed Necessary TaurusEmerald/Wikimedia Commons Jack Hartung, Chipotle’s Chief Financial and Administrative Officer, conveyed the necessity of these price adjustments during an earnings call. Hartung emphasized the need to offset the escalating labor costs associated with the impending 20% wage increase set to take effect in April under California’s new minimum wage law, paying fast food workers $20 an hour. Governor Newson Signs AB 1228…

In a concerning series of events, two men, Charlie Zeanah, 27, and Micah Brown, 34, claim they were separately robbed of significant amounts—each exceeding $30,000—after visiting the same Atlanta sports bar. The place was Five Paces Inn, and the robberies occurred on different nights. Both victims believe criminals gained access to their phones, leading to unauthorized transactions and compromises of their personal information. Victim Wakes Up Disoriented in Moving Car with Strangers Burak The Weekender/Pexels Zeanah reported that he visited Five Paces Inn alone last week, only to wake up disoriented in a moving car with strangers.  Despite his attempts…