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Jeffreyphony

18 Apr 2025 - 06:36 pm

Americans nearing retirement and recent retirees said they were anxious and frustrated following a second day of market turmoil that hit their 401(k)s after President Donald Trump’s escalation of tariffs.

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As the impending tariffs shook the global economy Friday, people who were planning on their retirement accounts to carry them through their golden years said the economic chaos was hitting too close to home.

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Some said they are pausing big-ticket purchases and reconsidering home renovations, while others said they fear their quality of life will be adversely affected by all the turmoil.

“I’m just kind of stunned, and with so much money in the market, we just sort of have to hope we have enough time to recover,” said Paula, 68, a former occupational health professional in New Jersey who retired three years ago.

Paula, who spoke on the condition of anonymity because she feared retaliation for speaking out against Trump administration policies, said she was worried about what lies ahead.
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“What we’ve been doing is trying to enjoy the time that we have, but you want to be able to make it last,” Paula said Friday. “I have no confidence here.”

Trump fulfilled his campaign promise this week to unleash sweeping tariffs, including on the United States’ largest trading partners, in a move that has sparked fears of a global trade war. The decision sent the stock market spinning. On Friday afternoon, the broad-based S&P 500 closed down 6%, the tech-heavy Nasdaq dropped 5.8%, and the Dow Jones Industrial Average fell more than 2,200 points, or about 5.5%.

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18 Apr 2025 - 03:21 pm

Tbilisi, Georgia — Jailed journalist Mzia Amaghlobeli gets weaker every day as her hunger strike has reached three weeks in Rustavi, a town near the Georgian capital of Tbilisi, her lawyer says. Now the 49-year-old is having difficulty walking the short distance from her cell to the room where they usually meet, and human rights officials, colleagues and family fear for her life.
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Amaghlobeli was arrested Jan. 12 during an anti-government protest in the coastal city of Batumi, one of over 40 people in custody on criminal charges from a series of demonstrations that have hit the South Caucasus nation of 3.7 million in recent months.
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The political turmoil follows a parliamentary election that was won by the ruling Georgian Dream party, although its opponents allege the vote was rigged.

Protests highlight battle over Georgia's future. Here's why it matters.
Its outcome pushed Georgia further into Russia's orbit of influence. Georgia aspired to join the European Union, but the party suspended accession talks with the bloc after the election.

As it sought to cement its grip on power, Georgian Dream has cracked down on freedom of assembly and expression in what the opposition says is similar to President Vladimir Putin's actions in neighboring Russia, its former imperial ruler.
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18 Apr 2025 - 02:45 pm

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Larryrix

18 Apr 2025 - 02:39 pm

WASHINGTON — “Liberation Day” just gave way to Capitulation Day.
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President Donald Trump pulled back Wednesday on a series of harsh tariffs targeting friends and foes alike in an audacious bid to remake the global economic order.

Trump's early afternoon announcement followed a harrowing week in which Republican lawmakers and confidants privately warned him that the tariffs could wreck the economy. His own aides had quietly raised alarms about the financial markets before he suspended a tariff regime that he had unveiled with a flourish just one week earlier in a Rose Garden ceremony.

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The stock market rose immediately after the about-face, ending days of losses that have forced older Americans who've been sinking their savings into 401(k)s to rethink their retirement plans.

Ahead of Trump's announcement, some of his advisers had been in a near panic about the bond markets, according to a senior administration official. Interest rates on 10-year Treasury bonds had been rising, contrary to what normally happens when stock prices fall and investors seek safety in treasuries. The unusual dynamic meant that at the same time the tariffs could push up prices, people would be paying more to buy homes or pay off credit card debt because of higher interest rates. Businesses looking to expand would pay more for new loans.
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Two of Trump's most senior advisers, Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, presented a united front Wednesday, urging him to suspend the tariffs in light of the bond market, the administration official said.

In a social media post, Trump announced a 90-day pause that he said he’ll use to negotiate deals with dozens of countries that have expressed openness to revising trade terms that he contends exploit American businesses and workers. One exception is China. Trump upped the tariff on the country’s biggest geopolitical rival to 125%, part of a tit-for-tat escalation in an evolving trade war.

Trump reversed course one week after he appeared in the Rose Garden and unveiled his plan to bring jobs back to the United States. Displaying a chart showing the new, elevated tariffs that countries would face, Trump proclaimed, “My fellow Americans, this is Liberation Day.”
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Gordonhiete

18 Apr 2025 - 02:34 pm

‘A whole different mindset’
Accurate clockwork is one matter. But how future astronauts living and working on the lunar surface will experience time is a different question entirely.
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On Earth, our sense of one day is governed by the fact that the planet completes one rotation every 24 hours, giving most locations a consistent cycle of daylight and darkened nights. On the moon, however, the equator receives roughly 14 days of sunlight followed by 14 days of darkness.

“It’s just a very, very different concept” on the moon, Betts said. “And (NASA is) talking about landing astronauts in the very interesting south polar region (of the moon), where you have permanently lit and permanently shadowed areas. So, that’s a whole other set of confusion.”
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“It’ll be challenging” for those astronauts, Betts added. “It’s so different than Earth, and it’s just a whole different mindset.”

That will be true no matter what time is displayed on the astronauts’ watches.

Still, precision timekeeping matters — not just for the sake of scientifically understanding the passage of time on the moon but also for setting up all the infrastructure necessary to carry out missions.

The beauty of creating a time scale from scratch, Gramling said, is that scientists can take everything they have learned about timekeeping on Earth and apply it to a new system on the moon.

And if scientists can get it right on the moon, she added, they can get it right later down the road if NASA fulfills its goal of sending astronauts deeper into the solar system.

“We are very much looking at executing this on the moon, learning what we can learn,” Gramling said, “so that we are prepared to do the same thing on Mars or other future bodies.”