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Economics

The mission of this working group is to build sustainable economy and financial balance within resilient social ecologies.

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Corey Watts david hastings Elhadj Drame Gina Angiola Kathy Gilbeaux LintonWells
Maeryn Obley mdmcdonald Samuel Bendett

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China's Market Convulsions Threaten Petrostates from Russia to Venezuela

             

latinamericanpost.com - by Keith Johnson - August 29, 2015

The Chinese contagion that sparked “Black Monday” is especially worrisome for crude oil prices, which this summer were thought to have finally found a floor after a year of steady price declines. But that floor suddenly looks rotten: U.S. benchmark crude prices fell well below $40 a barrel on Monday, their lowest levels since the depths of the global financial crisis.

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This Graphic Explains Monday’s Stock Market Crash

         

How a slowdown in China can take money out of your pocket

time.com - by Alex Fitzpatrick and Heather Jones - August 24, 2015

The Dow Jones Industrial Average plummeted more than 1,000 points Monday morning, taking millions of Americans’ 401(k) plans down with it. While stocks regained some of their lost ground by Monday afternoon, continued uncertainty over factors as far-ranging as China’s economy to global commodity prices could continue to wreak havoc on the markets for the rest of the week and beyond.

How can an economic slowdown in China take money out of your pocket? Check out the TIME infographic (in the link) below to learn more:

(CLICK HERE - TIME infographic)

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Stock Market Plunge Wipes Out This Year’s Gains

            

washingtonpost.com - by Thad Moore and Drew Harwell - August 21, 2015

A worldwide sell-off pushed U.S. stocks to their worst week since 2011 as spooked investors scattered amid worries of an economic slowdown in China and the potential for higher interest rates at home.

The Dow Jones industrial average capped a four-day losing streak by dropping more than 500 points to close at 16,459.75, sinking 10 percent from its May peak and following even steeper market declines in Asia and Europe.

The rout will further rattle workers whose 401(k) retirement accounts have taken a troubling hit. Investors have lost billions in recent weeks and are flocking to safety-net Treasury bonds as they wait for the bleeding to stop.

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100% renewables by 2045 is now the law in Hawaii

Link to Article:  http://www.argusmedia.com/News/Article?id=1051970

Hawaii law sets target of 100pc renewables by 2045

 

9 Jun 2015, 2.15 pm GMT

Washington, 9 June (Argus) — Hawaii's governor David Ige (D) signed legislation making the island state the first in the US to set a mandate for all electricity to come from renewable resources.

The governor signed HB 623, which requires electric utilities to supply 100pc of their sales with renewables by 2045. The new renewable portfolio standard includes interim targets of 30pc by 2020, 40pc by 2030 and 70pc by 2040. HB 623 replaces a previous standard that called for 15pc by 2015, 25pc by 2020 and 40pc by 3030. The bill takes effect on 1 July.

Ige said the move to local sources of energy will help the state's economy, which relies on about $5bn/yr in oil imports. Fuel oil provides about 70pc of the state's electricity, according to the Energy Information Administration (EIA).

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Sierra Leone President unveils Ebola "battle plan"

AFP    July 26, 2015
Freetown  - Sierra Leone's President Ernest Bai Koroma has unveiled a post-Ebola "battle plan" to help the west African country turn the page on the devastating epidemic.


Sierra Leone's President Ernest Bai Koroma speaks at an International Ebola Recovery Conference on July 10, 2015 at the United Nations headquarters in New York (AFP Photo/Eduardo Munoz Alvarez)

"Beyond the immediate nine-month recovery period, we will commence a two-year plan during which we must resolve to restore Sierra Leone to the path to prosperity," Koroma said in a statement released Friday.

"We will work to reinvigorate the private sector as a source of growth, create jobs and livelihoods in our economy," he said, emphasising the need to improve roads and market access.

Read complete story.
http://news.yahoo.com/sierra-leone-president-unveils-post-ebola-battle-plan-175118537.html

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Lack of People, Supplies and Money Plague Africa's Ebola Fight - Experts

      

Health workers put on protective gear before entering a quarantine zone at a Red Cross facility in the town of Koidu, Kono district in Eastern Sierra Leone December 19, 2014.  Reuters/Baz Ratner

reuters.com - by Leslie Gevirtz - July 8, 2015

NEW YORK (Thomson Reuters Foundation) - Three Ebola-stricken countries will seek nearly $700 million in aid at a U.N. conference this week to rebuild their devastated health care systems, the World Health Organization said.

Guinea, Liberia and Sierra Leone, which are all experiencing a resurgence of the deadly hemorrhagic fever, have budgeted a little more than $2 billion between them to restore their health systems.

But, according to WHO, to reach that goal they will still need $696 million in aid from donor nations.

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Three Ways the World’s Power Mix Is About To Change

weather.com - June 26th, 2015 - Brian Kahn

Big changes are afoot for the energy sector in the next 25 years. Coal and gas are headed out, and solar and wind are rushing to take their place on a multi-trillion dollar investment bonanza, according to a new report from Bloomberg New Energy Finance. The report scopes out the power generating landscape through 2040.

The main reason for the big shift in power generation isn’t likely to be because of a grand climate agreement, national policies or carbon pricing scheme, though. Instead, it comes down to cold, hard cash, with renewables offering more power-generating bang for the buck than fossil fuels. Here are the three big numbers.

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South Korea Cuts Growth Forecast as MERS Saps Spending

A man walks through tour buses at a parking lot after schools cancel excursions due to concerns over the spreading of Middle East Respiratory Syndrome in Seoul, South Korea, Thursday, June 25, 2015. South Korea's finance ministry said Thursday that economic growth will slow this year as the outbreak of MERS saps spending and tourism. (AP Photo/Ahn Young-joon)

bigstory.ap.org - by Youkyung Lee - June 25, 2015

SEOUL, South Korea (AP) — South Korea's finance ministry said Thursday that economic growth will slow this year as the outbreak of Middle East respiratory syndrome saps spending and tourism.

The ministry cut its forecast for South Korea's growth to 3.1 percent from 3.8 percent. Asia's fourth-largest economy grew 3.3 percent last year.

The outbreak that began last month is having a bigger effect on South Korea's economy than a deadly ferry disaster last year that plunged the country into mourning.

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New Data Reveals Which Approach to Helping the Poor Actually Works

      

An Ethiopian man examines his crop near Korom in northern Tigray province, November 25, 2004.
REUTERS/Radu Sigheti

CLICK HERE - RESEARCH - A multifaceted program causes lasting progress for the very poor: Evidence from six countries

reuters.com - by Dean Karlan - June 17, 2015

For years, policymakers have debated different approaches to helping the poor . . . new data, published in May after a nine-year, six-country study, offers resounding evidence for a strategy that works.  An approach known as a "Graduation" program is such a strategy.

Organizations employing this approach had been offering participants a “productive asset” (an asset that generates income, such as livestock or supplies to sell in a small store), training on how to use it, healthcare to keep them healthy enough to work, a small amount of food or money to support themselves while they learned to make a living (so they didn’t have to sell the asset immediately, merely to eat), access to a savings account to build up a buffer for future emergencies, and weekly coaching in areas like overcoming unexpected obstacles and meeting their savings goals.

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Coal Crash: How Pension Funds Face Huge Risk From Climate Change

           

Coal is moved on a conveyor belt at the PT Bukit Asam open pit coal mine in Tanjung Enim, South Sumatra province, Indonesia. Photograph: Dadang Tri/Getty Images

Special report: The plummeting coal sector and a growing green divestment movement is leaving firms who still invest in fossil fuels and connected pension holders heavily exposed

theguardian.com - by Damian Carrington and Caelainn Barr - June 15, 2015

The pension funds of millions of people across the world, including teachers, public sector workers, health staff and academics in the UK and US, are heavily exposed to the plummeting coal sector, a Guardian analysis has revealed.

It has also found that just a dozen people, including the owner of Chelsea FC, Roman Abramovich, own coal reserves equivalent to the annual carbon emissions of China, the world’s biggest polluter. The UN, which advocates a shift to clean energy, has more than $100m (£65m) invested in coal through its own pension fund.

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