In this week’s recap, Marcello talks about the U.S. presidential hopeful Robert F. Kennedy Jr. shift from his Democratic Party bid to run as an independent and a leading volcanologist has warned that mass evacuations might be needed in a town close to Naples, Italy which sits on a so-called Super Volcano that has been hit by 100’s of small earthquakes in recent weeks.
U. S. presidential hopeful Robert F. Kennedy Jr. will announce he is running as an independent instead of pursuing his bid to oust President Biden as the Democratic Party nominee, a shift that will complicate the 2024 election. Anti-vaccine activist Kennedy, a member of a Kennedy U.S. political dynasty, posted a video on YouTube on Friday asking Americans to join him for a major announcement in Philadelphia on Oct. 9.
Argentina battling a looming recession & dwindling reserves of foreign currency saw poverty hit 40.1% in the 1st half of 2023, or nearly 12M people, official data on Wednesday showed. That is up from just over +39% at the end of last year. The crisis has hammered the center-left Peronist government & its presidential candidate, Economy Minister Sergio Massa, while anti-establishment right-wing candidate Javier Milei is way up in the polls. Conservative Patricia Bullrich makes up the trio of front-runners ahead of the Oct. 22 vote.
The market for gold bullion in China has surged this month, at times commanding a record premium over international prices of more than $100 an ounce, compared with an average over the past decade of less than $6. On Wednesday, an ounce of gold in Shanghai cost $2,007, about 6% higher than the price in London or New York, according to analysts. It is being caused by rising demand among investors & everyday citizens who are dealing with a domestic property crisis, a falling yuan & tumbling bond yields as the government attempts to stimulate the economy.
Auto company sources say President Biden’s support for a 40% pay hike may make it harder to reach a compromise with the UAW. Talks are not advancing this week as attention is focused on Biden & Trump, they said. Tesla CEO Elon Musk weighed in on social media platform X, saying the 40% pay hike & shorter work hours (from 40 to 32) are a sure way to drive the major auto companies bankrupt. Tesla’s factories in contrast to date, are not unionized.
Austria, France, Germany, Poland & Switzerland announced their hottest Septembers on record on Friday, in a year expected to be the warmest in human history as supposed climate change accelerates. Higher temperatures are likely to be on the horizon as the El Niño weather phenomenon,which warms waters in the southern Pacific & beyond, has only just begun.
New York City experienced torrential downpours on Friday, after a week of mostly steady rainfall bringing about flash flooding to the city, disrupting subway service, inundating ground-level apartments & turning some streets into small lakes. Almost 8 inches (20 cm) of rain fell in some parts of the most populous city in the U.S., enough to enable a sea lion at Central Park Zoo to swim briefly out of the confines of her pool enclosure. Another few inches could fall in the region, before the storm system will be pushed out to sea later in the evening, according to forecasters.
Gold is seeing its worst monthly losses since February;Germany to introduce new border controls with Poland & Czech Republic.