All posts by Peter Jefferson

About Peter Jefferson

Peter Jefferson is a full-time researcher for www.businessdistrict.com, a task he took on in 2011 when the site was launched. He brings to the position a wealth of practical experience in the field of fiscal policy, having consulted with various government bodies on revenue collection, expenditure and economic growth. Contact Peter at peter[at]businessdistrict.com

As US Violence Escalates Countries Warn Citizens to Take Care

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In what is either a sign of the dangerous level of violence now plaguing the US or an overseas overreaction to that violence, three countries have issued travel advisories to their citizens planning on traveling to the United States.

The embassy of the tiny Middle Eastern island nation of Bahrain in the US issued a warning to its citizens visiting the US to “be cautious of protests or crowded areas occurring around the US.”

The Caribbean nation of Bahamas, where the majority of citizens identify as having a black African heritage, advised its people to be cautious when visit US cities which have had “shootings of young black males by police officers.”

“In particular young males are asked to exercise extreme caution in affected cities in their interactions with the police. Do not be confrontational and cooperate,” Bahamas foreign ministry said in a travel advisory.

Students and other citizens of the United Arab Emirates visiting the US have also been warned to practice caution during their travels. The warnings are evocative of the comparable warnings issued by the US State Department to citizens traveling to countries where extremists have perpetrated violent acts against their own citizens as well as visitors.

“Please be aware of immediate surroundings and avoid crowded places when possible,” the UAE embassy said, urging people to stay away from any U.S. demonstrations. “Exercise particular caution during large festivals or events, be alert and stay safe.”

US Business Urging Obama and Congress to Engage PM Modi on Economic Issues

Emerging Markets,
The Prime Minister, Shri Narendra Modi at Government Buildings, Dublin on September 23, 2015. Picture courtesy of Narendra Modi.

The Alliance for Fair Trade with India is pressing President Obama and Congress to move forward with the US economic relationship with India, taking advantage of India’s Prime Minister Narendra Modi’s visit to the US scheduled for June.

The Alliance, which represents a broad rand of businesses from manufacturing to pharmaceuticals, has sent letters to the president and congressman saying that Modi’s visit is an important event which should include discussions about crucial commercial issues which are harming India’s ability to grow its trade economy.

“We hope you will use this visit to engage with the Prime Minister to advance both discussions and concrete action to produce a stronger and more-promising U.S.-India commercial relationship,” the Alliance wrote.

“A strong and vibrant U.S.-India relationship is beneficial not only to our two countries, but also to greater growth and opportunity throughout the world.”

Inflation-Plagued Venezuela to Print Larger Denomination Bills

News, ,
Aerial view of Caracas from Plaza Venezuela.
Aerial view of Caracas from Plaza Venezuela. Photo by Paulino Moran

 

With inflation at 181 percent, Venezuela has the highest inflation in the world. A top finance official in the government said that due to the runaway inflation, Venezuela will be force to print paper money of larger denominations. Right now the country’s largest bill has a value of only ten cents.

The first confirmation that Venezuela will be issuing larger notes came from Central Bank President Nelson Merentes in an interview with the Associated Press. Rumors have been circulating for months that Venezuela was planning such a step.

Market economists believe that larger bills will only quicken the already nightmarishly skyrocketing inflation, make it more difficult to bring under control.

Merentes, disagreeing with that assessment, said the new money will reduce panic in the public, reducing price pressures since “you’re going to have less bills circulating.”

This is a big project that will take us to a monetary system more in line with the Venezuelan situation,” Merentes said.

Hysteria Grips US Malls as Thousands Evacuated in Multiple Bomb Scares

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Saturday was a crazy day at the mall in America as thousands of Christmas shoppers were evacuated in light of bomb and other threats of violence.

The evacuations come on the heels of a highly publicized terrorist attack in San Bernardino in which 14 were killed and over 20 people injured.

At the outdoor Largo Mall near Tampa, Florida 500 people were told to leave after an empty suitcase caused concern. In Hackensack, New Jersey the two-floor Riverside Mall was evacuated when someone noticed a bomb threat written on a bathroom wall. Across the country in New Mexico, at the Animas Valley Mall in Farmington, another restroom message caused the police to evacuate and close the mall as they searched for the threat. On San Francisco’s iconic Embarcadero an ownerless backpack sent the police into suspicious mode, clearing the area and carefully examining the lone backpack for bombs or other threats.

No bombs or other threats were found in any of these incidents. The disruption and delays caused by the threats did interrupt the smooth flow of commerce on what was one of the busiest shopping days of the year.

US Travelers Wary as Airlines Merge

Transportation Industry, , , ,

The computer glitch last Thursday was short, and luckily did not overly inconvenience travelers at Phoenix Sky Harbor International Airport. There was also some impact from the bump on American Airlines flights in Chicago, Miami, and Dallas-Fort Worth airports.

Passengers are hopeful and cautious about the merger of US Airways and American Airlines; hopeful all will go well, and cautious to avoid unnecessary delays or problems.

Chief pilot Tate Willworth, for Leading Edge Aviation, who flies with US Airways/American often for work, said that his luggage is lost about 3 out of 5 times that he flies with them.

He said he is hoping that the merger will improve the running of the company, but he also added:

“I see it like a pack of sled dogs, if you’re not in the lead it’s a bad view.”

The two major airline companies merged in December 2013. Since that time they have been working to bring together 120,000 employees and about 1,000 airplanes, plus nine hubs, under one unified roof. The next giant step will be on October 17, when the company will transfer the reservations system of US Airways into the American Airlines system.