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Davidzem

01 Aug 2025 - 06:26 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%.

Scottslofe

01 Aug 2025 - 08:15 am

What struck Scott Bennett most were the razor clams.

The long saltwater clams, resembling old-fashioned razors, normally burrow into sand to avoid predators. But when Bennett, an ecologist, visited South Australia’s Great Southern Reef last month, he saw thousands of them rotting on the sea floor.
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“100% of them were dead and wasting away on the bottom,” Bennett told CNN.

Since March, a harmful algal bloom, fueled by a marine heat wave, has been choking South Australia’s coastline, turning once-colorful ecosystems filled with thriving marine life into underwater graveyards.

The bloom has killed about 15,000 animals from over 450 species, according to observations on the citizen science site iNaturalist. They include longfinned worm eels, surf crabs, warty prowfish, leafy seadragons, hairy mussels and common bottlenose dolphins.
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The algae have poisoned more than 4,500 square kilometers (1,737 square miles) of the state’s waters – an area larger than Rhode Island – littering beaches with carcasses and ravaging an area known for its diversity.

It’s “one of the worst marine disasters in living memory,” according to a report by the Biodiversity Council, an independent expert group founded by 11 Australian universities.

The toxic algal bloom has devastated South Australia’s fishing industry and repelled beachgoers, serving as a stark warning of what happens when climate change goes unchecked.

Once a bloom begins, there is no way of stopping it.

“This shouldn’t be treated as an isolated event,” Bennett said. “This is symptomatic of climate driven impacts that we’re seeing across Australia due to climate change.”

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Anthonynes

31 Jul 2025 - 03:35 am

Emily Mazreku, director of marketing and communications at Breakthrough T1D, lives with type 1 diabetes and worked with Mattel to design the doll.
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Barbie’s phone app displays a snapshot of her actual blood sugar readings from one day during the design process. Barbie’s blood glucose reading is 130 milligrams of sugar per deciliter of blood, which is in the normal range. Most people with diabetes try to keep their blood sugar between 70 and 180 mg/dl.Her continuous glucose monitor has a graph that shows the highs and lows that can happen during the day. The blue polka dots are nods to the colors and symbols for diabetes awareness.
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Mazreku spent almost two years holding focus groups to get feedback about the features of the doll and to make sure it was representing the entire type 1 diabetes community.
“Mattel approached us, and they wanted this to be a part of their Fashionista line,” Mazreku said. “And we jumped on that opportunity right away.”

The line has dolls with more than 175 different looks, including a variety of skin tones, eye and hair colors. It includes a Barbie with behind-the-ear hearing aids, a blind doll who uses a cane and another with a prosthetic leg. There’s also a doll with vitiligo, a condition in which skin loses its pigment and becomes splotchy.

“We know that increasing the number of people who can see themselves in Barbie continues to resonate,” said Devin Duff, a spokesperson for Mattel, in an email to CNN.

The company said the blind Barbie and a doll with Down syndrome were among the most popular Fashionista dolls globally in 2024.
The company launched its first doll with a disability — a friend for Barbie called Share-a-smile Becky, who used a wheelchair — in 1997. Customers noted at the time that Becky’s wheelchair couldn’t fit through the doors of the Barbie Dream House, a situation many people with disabilities encounter in real life.

Georgegrorb

31 Jul 2025 - 02:29 am

Rescuers are hailing as a “four-legged hero” a furry Chihuahua whose pacing atop an Alpine rock helped a helicopter crew find its owner, who had fallen into a crevasse on a Swiss glacier nearby.
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The man, who was not identified, was exploring the Fee Glacier in southern Switzerland on Friday when he broke through a snow bridge and fell nearly 8 meters (about 26 feet), according to Air Zermatt, a rescue, training and transport company.

Equipped with a walkie-talkie, the man connected with a person nearby who relayed the accident to emergency services. But the exact location was unknown. After about a half-hour search, the pacing pooch caught the eye of a rescue team member.
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As the crew zeroed on the Chihuahua, the hole the man fell into became more visible. Rescuers rappelled down, rescued the man and flew him and his canine companion to a hospital.

“Imagine if the dog wasn’t there,” Air Zermatt spokesman Bruno Kalbermatten said by phone. “I have no idea what would happen to this guy. I think he wouldn’t survive this fall into the crevasse.”

On its website, the company was effusive: “The dog is a four-legged hero who may have saved his master’s life in a life-threatening situation.”

Adolphsog

31 Jul 2025 - 12:43 am

Colin Goodson knows more about energy than most people.

The tall, bearded Mainer is an engineer on an offshore oil drilling ship in the Gulf of Mexico. But when it came time for him to build a home in Southern Maine, Goodson largely bypassed fossil fuels.
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The house he built is entirely off the grid, powered from rooftop solar and batteries that convert the sun’s energy to electricity. Electrons power much of his two-story home; it is heated and cooled with heat pumps, and Goodson and his wife cook meals on an induction range. Incredibly well-insulated, the entire home is heated by a small wood stove.
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Goodson loves his new house, even though it has raised the eyebrows of his drilling ship colleagues.

“All the guys at work think I’m crazy,” Goodson said during a recent tour of his home. “They think I’m living in a shack out in the woods somewhere and I go outside to use the toilet, but that’s clearly not the case.”

The house, built by New Hampshire company Unity Homes, is a far cry from a shack. Modern and spacious, it has running water and three bathrooms.
Despite also having initial concerns about her husband’s off-the-grid aspirations, Katie Goodson is a convert as well – especially after the lights stayed on during an intense storm that knocked their neighbors’ electricity out.

“I would never go back,” she told CNN. “When I tell co-workers or neighbors that we live off-grid and they see the house, they’re always like, ‘Whoa, this isn’t what I was expecting!’ It’s really fun surprising people; I live a totally normal life.”

The Goodsons are part of a small but growing number of homeowners who are choosing to build energy-efficient “panelized” homes that are pre-made in a factory. The homes are better for the climate, and although they have a high upfront cost, several homeowners say their energy savings, quality of life and overall cost of living has greatly improved since moving in.

Barrybeelt

30 Jul 2025 - 08:04 pm

Job losses
But what about the impact of tariffs on job creation? Surprisingly, an increase in import taxes has been found to result in slightly more unemployment across countries.
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An example provided by Irwin at Dartmouth College points to one plausible explanation — and it has to do with the steeper cost of imported goods.

“A number of studies have shown, on net, we lost jobs from the (2018) steel tariffs rather than gained jobs because there are more people employed in the downstream user industries than in the steel industry itself,” he said.
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A study by the Federal Reserve Board found that a rise in input costs resulting from US tariff hikes in 2018-19 led to job losses in American manufacturing. The damage from those higher expenses was compounded by retaliatory taxes on US exports, more than offsetting a small boost to manufacturing employment from US tariffs — at least so far, the 2024 paper said.

Retaliation by other countries is indeed another danger of pulling the tariff lever. Higher tariffs on American exports would typically raise their prices for foreign consumers, hitting demand for the goods in many cases.

When Trump announced new tariffs this year, America’s major trading partners were quick to strike back with their own levies, although the US then agreed a temporary truce with China and the European Union.

Costs of free trade
While economists generally agree that free trade has benefited the global economy in recent decades, they acknowledge that it comes with certain costs.

One is the loss of jobs in communities that are particularly exposed to new competition from foreign manufacturers.

That is similar to the impact of technological progress on workers. “Manufacturing jobs as a share of the labor force have come down everywhere. It isn’t a US-specific story,” said Gimber at JPMorgan Asset Management, pointing to automation.

He drew a parallel between helping workers affected by higher imports and what is known as a just transition — the idea that the drastic changes needed to move toward a greener economy should be fair to everyone and minimize harm to workers and communities.

In both cases, providing workers in impacted industries with new skills or retraining them could be key, Gimber said.

Another potential cost of free trade is dependency on far-flung manufacturers. That took on new relevance during the pandemic, which snarled global supply chains, contributing to shortages of products such as face masks and respirators in the US and elsewhere.

However, economists do not typically see tariffs as a good way to build up domestic manufacturing, Fatas at INSEAD said, noting that subsidies for specific industries are viewed as a better tool “because they work more directly.”

But perhaps the strongest argument in favor of free trade is its importance to maintaining peace between nations.

As Gimber’s colleague David Kelly noted in March, closer trade relations give countries more to lose in any conflict.

Kennetherold

30 Jul 2025 - 07:30 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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