Samuel Stebbins 24/7 Wall Street Published 10:02 AM EDT Jul 8, 2019 The U.S. economy is a $20.5 trillion behemoth – and the nation’s infrastructure is the scaffolding upon which it depends. In many parts of the country, however, years of neglect have left critical transportation infrastructure in a state of serious, often dangerous, disrepair. The effects of deteriorating infrastructure range in severity, from potholes adding unnecessary wear-and-tear to personal vehicles to catastrophic failures, like the I-35 bridge collapse that killed 13 people in Minneapolis in 2007. According to some estimates, delays due to roadway congestion – which are often caused by inadequate infrastructure – take a more than $120 billion toll on the economy every year. Though the U.S. economy has grown at a steady pace over the past century, infrastructure spending has not kept up. Federal, state, and local governments invested the equivalent of 4.2% of GDP in … [Read more...] about United States infrastructure: The best and worst by state
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Mortgage applications in the United States dropped last week even though mortgages rates remained lower, Mortgage Bankers Association (MBA) said on Wednesday. For the week ending April 26, MBA’s market composite index, a measure of mortgage loan application volume, dropped 4.3 percent from one week earlier. The drop in mortgage applications came despite lower mortgage rates, which could have led to an increase in application volume. “Mortgage rates were lower last week, with the 30-year fixed rate declining to 4.42 percent, as concerns over global growth, particularly in Germany, outweighed more positive domestic news on first quarter GDP growth and business investment,” said Joel Kan, associate vice president of economic and industry forecasting of MBA. The U.S. Federal Home Loan Mortgage Corporation, said on Monday the 30-year fixed-rate mortgage is expected to average 4.3 percent for 2019, which is below last year’s average of 4.6 percent. MBA’s data … [Read more...] about Mortgage applications in the United States dropped last week
U.S. President Donald Trump, who came to power with the promise of isolationism, is moving towards its goal by running the risk of disrupting the state apparatus.Some of the major steps Trump has so far taken for the sake of isolation include the decision to withdraw from Syria, the imposition of steel tariffs (trade war) and building a border wall.Of course, this isolation perspective of the U.S. administration, which dominates the global markets and politics, is far from being an internal affair. U.S. allies will directly be influenced by these Trump policies.Undoubtedly, the EU is among the most prominent allies of the U.S. since the defense of the old continent is currently in the hands of the U.S. Even in strong EU countries like Germany, thousands of U.S. military officers are on duty. For the rest of the story, we must take note of the following words of the French Defense Minister Florence Parly which led us to discuss the question in the title:"If you put together the U.S. and … [Read more...] about What if the United States leaves NATO?
A study by the US Chamber of Commerce shows how the deterioration in the trade dispute between the world’s two largest economies, China and the United States, will drastically affect the American economy. “Escalation of bilateral tariffs results in lower GDP, lower employment, lower investment, and lower trade flows for the United States,” said the study, which was conducted jointly by the commerce chamber and research firm Rhodium Group. It found that tariff measures would cost the US GDP from $45 billion to $60 billion in the first year following the imposition. The figure will grow to $89 - $125 billion annually, five years later. The US economy stands to lose $1 trillion of its baseline potential within ten years of tariff implementation, the report concluded. Also on rt.com US-China trade plunges by 20% in the first two months of 2019 Tariffs are also expected to “shave up to one-third of a percentage point” in total factor productivity from … [Read more...] about Escalation of US-China bilateral tariffs to shave off $1 trillion from America’s GDP
Moldovan wine was promoted at a reception in Japan, with eight importing companies from Japan taking part in the event. The samples from 21 wineries that sent 95 types of quality wine from our country were presented at the embassy’s stand, “The festive reception is a celebration of the unspoiled work of the eight importing companies in Japan, who followed the invitation of the embassy and promoted Moldovan wines to the Japanese public, either during promotional events or in B2B meetings or among friends. At the same time, it is a good opportunity for the producers in our country to present their high quality wines,” said Vasile Bumacov, Ambassador of the Republic of Moldova to Japan. Kenji Yamada, Deputy Foreign Minister for Foreign Affairs, said at the event that the Government of Japan has worked to support the agricultural sector in the Republic of Moldova over the last few years. “I understand that Moldova’s wine was popular among noblemen and European … [Read more...] about The energy and investment sector of Moldova, discussed in the the United States