News

[ad_1] Magnitude 6.2 earthquake strikes offshore Northern California [ad_2] Source link

[ad_1] Stating that the Glasgow Climate Pact does not mandate the phase down of coal power, “and it is not setting any timelines” for the same, Union coal minister Pralhad Joshi said on Monday that “despite the push for renewables, the country will require base load capacity of coal-based generation for stability and also for energy security”. Pointing out that the agreement only calls upon parties to accelerate efforts towards the phase down of unabated coal power in line with national circumstances and recognising the need for support towards a just transition,” in a written reply to the Parliament the minister said that “the pace of transition to cleaner energy sources in India is to be viewed in the light of national circumstances, and principle of common but differentiated responsibilities and respective capabilities, the transfer of climate finance and low cost climate technologies”. Analysts in India had said that the Glasgow agreement fell short of realising the ambition of meaningfully addressing the issue of global warning, even as it claimed to have ‘kept alive’ the hope of capping global warming at 1.5 degrees Celsius. They also averred that coal phase-out timelines or urgency cannot be the same for all countries, and particularly when there is no mention of phase-out of oil and natural gas in the pact. Based on the analysis of the Central Electricity Authority (CEA), the coal-based power generation capacity is expected to reduce from the current level to 54% of India’s total power generation capacity to 33% by FY30. Currently, the total installed power generation capacity in the country is 391 GW, of which coal-fired units make up for 209 GW. By FY30, CEA has projected that out of the total installed capacity of 795 GW, 266 GW will be coal-based. The government had earlier estimated that the country will need 892 million tonne (MT) of coal in FY30 for power generation. India currently produces around 600 MT of coal annually, and even if the share of the fuel in power generation decreases, coal output will have to increase to cater to local demand. [ad_2] Source link

[ad_1] Most of the time, the economy is like a slow-moving ocean liner that changes direction gradually and without much effort. But when a new, powerful variable presents itself, like the worldwide COVID-19 pandemic, the economy can change on a dime. COVID was a veritable iceberg for our ocean liner economy, but the ship did not go down! Even in the extreme conditions of COVID-19, my general premise on housing economics predicted that the two variables with the most influence — demographics and mortgage rates — would hold up the housing market. With those two factors still very much in play, here is my 2022 forecast. The 10-year yield and mortgage rates The forecast For 2022, my range for the 10-year yield is 0.62%-1.94%, similar to 2021. Accordingly, my upper end range in mortgage rates is 3.375%-3.625% and the lower end range is 2.375%-2.50%. This is very similar to what I have done in the past, paying my respects to the downtrend in bond yields since 1981. We had a few times in the previous cycle where the 10-year yield was below 1.60% and above 3%. Regarding 4% plus mortgage rates, I can make a case for higher yields, but this would require the world economies functioning all together in a world with no pandemic. For this scenario, Japan and Germany yields need to rise, which would push our 10-year yield toward 2.42% and get mortgage rates over 4%. Current conditions don’t support this. The backstory The lifeblood of my economic work depends greatly on the ebbs and flows of the 10-year yield, even more than mortgage rate targeting, which is unusual for a housing analyst.  When I first dipped into 10-year yield and mortgage rate forecasting in 2015, during the previous expansion, I said the 10-year yield will remain in a channel between 1.60%-3%. I’ve stuck to that channel forecast every year since — and for the most part that 10-year yield channel stuck. That range dictated that mortgage rates would roughly stay between 3.5%-4.75%. When COVID-19 was about to hit our economy, I forecasted that the 10-year yield recessionary yields should be in a range between -0.21%-0.62%. We got to as low as 0.32% on that Monday morning in March when the crisis was hitting the markets the hardest. About a month later, I published my AB (America is Back) recovery model, which said that the 10-year yield should get back toward 1%. We got there in December of 2020 so I was able to retire my America is Back recovery model. I said that when the economy was beginning the new expansion, the 10-year yield would create a range between 1.33%-1.60%. This couldn’t happen in 2020 but should happen in 2021. Even with the hot economic growth, the hottest inflation data in decades, and the Fed rate hike discussion picking up, this range of 1.33%-1.60% has held up nicely for most of 2021, meaning mortgage rates were going to be low in 2021. My forecast for the 10-year yield range in 2021 was 0.62%-1.94% which translates to a bottom-end range in mortgage rates of 2.375%-2.5%, and an upper-end of 3.375%-3.625%. Single mortgage rate target forecasts have not fared well over the decades because these forecasters did not respect the downtrend in bond yields since 1981. The X factor Can there be a bond market sell out short term, sending yields above 1.94%, like what we saw early in the COVID-19 crisis? Yes, but if the markets do overreact for any reason, typically bond yields would fall back. Why do I not believe bond yields will push higher aggressively? The economic rate of growth peaked in 2021. The economy was on fire this year, and inflation data was super-hot. Even so, the highest the 10-year yield got was 1.75%. The economic disaster relief that boosted the recovery in 2020 and 2021 has been drawn down. Government spending plans have also been watered down and new legislation might not even pass at all. Economic growth peaked in 2021 and some of the hotter inflation data has the potential to fall next year. The Federal Reserve wants to hike rates to cool the economy. Typically what happens before the first Fed rate hike is that the U.S. dollar has its biggest percent move higher ,which tends to hurt commodity prices and world growth. This is something to watch for next year as it could slow down world growth. The economy won’t be as hot in 2022 as it was in 2021, but it will remain in expansionary mode. This type of backdrop will make it challenging for rates to rise in a big way and stay higher. The key with all my 10-year yield channel work is how long the 10-year stays in that channel during the calendar year. I have always believed this type of forecast is more useful than targeting a mortgage rate.  Existing-home sales The forecast For 2022, I am forecasting the same sales trend range as 2021 of about 5.74 million to 6.16 million. If monthly sales prints are above 6.16 million for existing homes, then I would consider the market more robust than expected. If sales trend toward 5.3 million then we will be back to 2019 levels. This would still be healthy sales considering the post-1996 trend, but it will mean housing demand has gotten softer. This has happened before when higher rates have impacted demand. This is why since the summer of 2020 I have written about how if the 10-year yield can get above 1.94%, then things should cool down. However, as you can see it’s been hard to bond yields over that level and thus mortgage rates above 3.75%. The backstory If the last two reports of the year on existing home sales are above 6.2 million, I will admit that sales have slightly outperformed what I predicted for 2021. Early in 2021, I wrote that home sales would moderate after the peaks caused by the COVID-19 shutdown make-up demand and that readers should not overreact to this

[ad_1] Don’t miss these hot deals on the popular Liquid I.V. Wellness Beverages! Want to stay more hydrated in the new year? Zulily has some hot deals on these Liquid I.V. Wellness Beverages today! There are lots of flavors to choose from. Shipping starts at $5.99. But if you place one order today, the rest of your orders will ship for FREE through 11:59 p.m. PT tonight! [ad_2] Source link

[ad_1] Goldman Sachs strategist Abby Joseph Cohen retiring [ad_2] Source link

[ad_1] The government on Monday said traders will be allowed to import refined palm oil without licence for one more year till December 2022, a move aimed at increasing domestic supplies and bring down prices of cooking oils. In June, the government removed import restrictions on refined palm oil till December 31 this year as prices of edible oils had risen sharply. Import of ‘refined bleached deodoerised palm oil’ and ‘refined bleached deoderised palmolein’ is “free for a period up to December 31, 2022”, according to a notification by the Directorate General of Foreign Trade (DGFT). It, however, added that the import is not permitted through any port in Kerala. Earlier, these imports were under the restricted category wherein an importer needed a licence or permission from DGFT for inbound shipments. Solvent Extractors’ Association of India (SEA) Executive Director B V Mehta said the decision to extend the free import period will hit domestic oilseed processors. “The government has taken this decision in view of high wholesale inflation. However, it should have extended the period only till March next year. Local mustard crop will start arriving in the market from March onwards boosting domestic edible oil production,” he added. According to the SEA, India’s dependence on import of edible oils is nearly 65 per cent of the total consumption of about 22-22.5 million tonne. The country imports 13-15 million tonne to bridge the gap between demand and domestic supply. For the last two marketing years (November to October), due to the pandemic, the imported quantity reduced to nearly 13 million tonne. In 2019-20, the import quantity dropped to 13.2 million tonne valued at about Rs 71,600 crore. In 2020-21, India imported a similar quantity but the import bill jumped by 63 per cent and touched an alarming level of Rs 1.17 lakh crore due to hike in international prices of edible oils, it had said. Earlier in the day, Finance Minister Nirmala Sitharaman told the Lok Sabha, “we will attend to the problem of edible oil price and also some of the essential edible items”. In order to rein in the prices of edible oil, the government has cut import duties on both refined and crude edible oils several times this year. [ad_2] Source link

[ad_1] Jeffrey Wilen The Covid-19 pandemic hit Jeffrey Wilen and his family hard. In July 2020, he lost his job as an editor at a consulting firm for spa professionals. By that point, his wife, fearing infection, had already decided to resign as a part-time assistant teacher to stay home with their three kids.  It took Wilen, 49, about two months to get a new job. In September 2020, he landed a job as a service advisor assistant for an auto repair shop. “I’m still in this job, but I’m not making as much as I was at the previous one,” he said. Since the pandemic first hit, the family’s annual income decreased from around $80,000 to $41,600, according to Wilen. While they wait for the best moment for his wife to return to work  – they are still afraid of new Covid-19 variants – he is hustling at side jobs after his shift at the auto repair shop. “What’s happened is that the economy has changed a lot. Gas is more expensive. Groceries are more expensive,” he said. “I’m trying to make an extra anywhere.” Wilen is working with food delivery, which guarantees between $100-200 per week. A $250 monthly child tax credit from the federal government for each child also helps the household. But will end in December. While the family’s income has been cut by almost half and inflation has increased their expenses, Wilen’s primary concern is his mortgage.  In 2015, the family paid $250,000 for a 2,900-square-foot house in Ormond Beach, Florida. The four-bed property was perfect for the pre-Covid reality, but it is challenging to afford right now.  When Wilen lost his job last year, he stopped paying his $1,460.10 mortgage for 12 months, and the county where he lives paid three months of his mortgage bill as part of an assistance program. “But all my forbearance is done, and I can’t get any more,” Wilen said. He is afraid of losing his home. Wilen’s case illustrates how some Americans have a lot to lose if policies designed to help mortgage borrowers don’t break right.  Governments and servicers were both quick to launch forbearance programs for over seven million mortgage borrowers during the pandemic, realizing the historic challenge borne out of the Covid-19 pandemic. The fast and efficient response worked – a foreclosure crisis has not materialized, and most experts do not believe there’s a threat of a huge wave of foreclosures in the cards. But housing experts say a new phase of financial aid needs to be issued imminently to help those who are exiting forbearance and are still struggling to pay their mortgages. Black Knight data shows that roughly 450,000 forbearance plan expirations are expected to occur through the end of 2021, representing more than a third of active plans. “We are concerned that we are going to see more and more people in this same position in the coming months: many homebuyers who lost jobs are back to work but making less money,” said Jackie Boies, senior director at Money Management International, a nonprofit that provides credit and debt management counseling. “They’ve had a manageable budget due to mortgage forbearance. Now mortgage forbearances are coming to an end, and many homebuyers will not be able to pay their mortgage again.”  The unemployment rate checked in at 4.2% in November 2021, down from 14.8% in April 2020, according to the U.S. Department of Labor. Still, some borrowers haven’t regained employment or are now under-employed.  “Just because there are a lot of jobs out there doesn’t mean there are jobs that are paying as well as they were before the pandemic,” said Stephanie Moulton, professor at the John Glenn College of Public Affairs from the Ohio State University and an expert in public policy implementation. A $10 billion hope       The biggest hope for borrowers who can’t pay their mortgages – apart from winning the lottery – is the Homeowners Assistance Fund (HAF) program. A component of the American Rescue Plan Act, it was approved by Congress in March. The fund allocates $10 billion to prevent homeowners from falling behind on their mortgage, losing utility services, or being displaced.  The money can be used for mortgage payment assistance or mortgage principal or interest rate reductions. It can also cover utility payments, including electric, gas, home energy (firewood and home heating oil), water, and wastewater.  Homeowners have to document and describe their financial hardship, which has to have occurred after Jan. 21, 2020. They also must have incomes that do not exceed 150% of either the area median income or 100% of the median income for the United States, whichever is greater. According to the latest U.S. Census Bureau data, the median household income in Volusia County, where Wilen lives, is $49,494, so he would be a target.  States and eligible territories are tasked with administering the money, subject to the U.S. Department of the Treasury approval. Each state must also submit its own HAF plans to the Treasury for approval. As of October, 10% of the funds have been distributed upfront for states to initiate pilot programs. But few territories and states received a green light to implement their complete plans. “Right now, it is the time to get the HAF implemented,” said Moulton. “Forbearances are starting to expire. If we go much beyond Jan. 1, it might be too late for some borrowers.” According to consumer protection lawyers, advocates, and housing counselors, the expectation is that some state programs will be up and running sometime in the first quarter of 2022. After the plans’ approval, borrowers need to submit applications to the states, more complicated than the automatic forbearance plans provided to millions after a phone call to their servicers. Additionally, states will have to select and reach out to borrowers, which can take some time.   Mortgage servicers are negotiating uniform procedures and documents with states, so their interactions can be faster when paying borrowers’ debts. “Servicers don’t want to get in a position where

[ad_1] The post Get Paid to Play Games appeared first on Millennial Money. There are two reasons to play games today: for fun or for money. Most people play games for fun as a way to relax or pass the time. But believe it or not, some people view video games with dollar signs in their eyes — looking for ways to rake in cash or even free gift cards while playing the games they love.  Let’s take a look at how you get paid to play games. How to Get Paid to Play Games Here’s how to get paid to play games. Swagbucks InboxDollars Twitch Mistplay Work as a game tester Start a blog Start a YouTube channel Become an esports pro Work as a video game coach 1. Swagbucks Swagbucks is a cash-back rewards app that can reward you with real money for doing things you love. For example, Swagbucks provides rewards for things like watching movies, browsing the internet, and even playing games like Trivia Game Show and Solitaire Cube.  Simply install a mobile game app from the Swagbucks site and start earning rewards for playing it. Once you’ve made some money, you can cash out via your PayPal account. 2. InboxDollars  InboxDollars is another app that provides cash prizes and gift cards in exchange for playing games. The app connects folks with online game companies that want to attract more users and rewards participants for their efforts. You can play arcade games, casino games, and even enter cash tournaments.  3. Twitch Twitch is an online streaming service that’s a subsidiary of Amazon. You can create a channel on the Twitch app, stream live games or other content like music or art demonstrations, and attract followers.  If you attract enough followers and viewers, you can become a Twitch Affiliate or partner and potentially earn thousands of dollars per week. In fact, some users earn millions of dollars annually through sponsorships and promotional opportunities.  Imagine getting a lucrative contract from a game developer like Epic Games and becoming a professional Fortnite gamer. That would certainly be an amazing way to achieve financial freedom! Of course, making a substantial amount of real money on Twitch takes talent and time. But it’s not impossible. You just have to be prepared to put in the work to get there. 4. Mistplay  Another app that pays users to play games is Mistplay.  Create an account on Mistplay, discover new games, play, and collect points, or units. The more you play, the more units you’ll collect. Then cash them in for rewards.  The Mistplay app offers rewards like Amazon gift cards, Google Play credit, Visa gift cards, and PayPal distributions, among other things.  Mistplay FREE Create an account on Mistplay, discover new games, play, collect units, then cash your units in for rewards.   Get Started 5. Work as a game tester Video game developers often crowdsource testing, relying on individuals like yourself to test games, find bugs, and report experiences.  Check out iGameLab to get started. This site will pay you to be a beta tester and provide game feedback.  Imagine making real money testing out some of the best games on the market. How cool would that be? 6. Start a blog If you’re feeling ambitious and really enjoy gaming, consider starting a blog and writing video game reviews, tutorials, walkthroughs, and Q&As.  Folks who produce solid content about their favorite games and can market the blog effectively have the potential to make real money through sponsorships and advertisements. These can be obtained by approaching companies directly or through a service like Google AdSense. 7. Start a YouTube channel Another way to make real money playing games is to start a YouTube channel and post video game content online. This is similar to Twitch, in that it involves posting a lot of content and attracting subscribers.  If you reach a certain threshold of views, the YouTube app will compensate you.  8. Become an esports pro The esports market has skyrocketed in recent years, with more and more players getting sponsored and making a living simply by playing games.  As a disclaimer, becoming an esports pro is not easy. You have to be able to compete at gaming tournaments with the best of the best and keep up with people who are expert gamers.  Consider pursuing esports if you’re extremely talented at video games and capable of playing at the highest level there is. On top of the potential real cash prizes you can win at events, an esports career can lead to extra income from sponsorships — not to mention the swag you’ll get from game developers. 9. Work as a video game coach  Not everyone is great at video games. For some, it just doesn’t come naturally.  As such, there’s a strong opportunity at hand for those who are proficient to teach others and help them improve their game.  To find work as a video game coach, start by testing your network of friends and community members. Of course, you’ll have to demonstrate your skills and proficiency before someone will pay you to teach them how to play games. Here’s something you can try: Ask to play games with someone, demonstrate your superiority firsthand, and then offer to share your secrets — but for a price tag.  Tips for Making Real Money Playing Games Here are some things to keep in mind before you turn your video game hobby into a profession.  Decide if you really want to make money gaming Spend some time thinking about whether you want to keep your gaming habit as a hobby or if you really want to turn it into a side hustle. For some people, making real money playing games can actually be depressing because it can take the fun out of the experience. If you play video games to relax and have a good time, you might spoil your hobby by turning it into a job. Of course, this doesn’t really

[ad_1] This 2-In-1 Cornhole Board Game Set is great for summer evenings outside! You can get this 2-In-1 Cornhole Game Set with 2 Carrying Bags and 6 Bean Bags for just $39.99 shipped right now! This game set is fun for all ages and a welcome companion to your next family trip to the beach, park, or tailgating. Valid through December 24, 2021. [ad_2] Source link

[ad_1] Liquidity Protocol Algofi Launches on Algorand, Offering a Lending Market, Stablecoin, and Liquidity Incentives [ad_2] Source link