Vials of Moderna's COVID-19 vaccine in Bridgeport, Conn., in a file image. (Joseph Prezioso/AFP via Getty Images) |
A Personal Blogger by James Alexander Michie, recently shared articles related to Finance, Sports, Hockey, NHL, Travel, Photography, Random Musings
Since COVID-19 started its spread around the world in 2020, the global economy has been put to the test with supply chain disruptions, price volatility for commodities, challenges in the job market, and declining income from tourism. To analyze the extent of global debt, we’ve compiled debt-to-GDP data by country from the most recent World Economic Outlook report by the IMF.
What is the main risk of a high debt-to-GDP ratio?
A rapid increase in government debt is a major cause for concern. Generally, the higher a country’s debt-to-GDP ratio is, the higher chance that country could default on its debt, therefore creating a financial panic in the markets. The World Bank published a study showing that countries that maintained a debt-to-GDP ratio of over 77% for prolonged periods of time experienced economic slowdowns. COVID-19 has worsened a debt crisis that has been brewing since the 2008 global recession.
| Source: World Economic Outlook Report (October 2021 Edition) |
Source: Raul Amoros, Christina Kostandi | Visual Capitalist
| COVID-19 mandate protesters block the roadway at the Ambassador Bridge border crossing with the U.S. in Windsor, Ont., on Feb. 9, 2022. PHOTO BY GEOFF ROBINS/AFP VIA GETTY IMAGES |
With the trucker protest against mandatory health policies still in play, it is no surprise that the controversial Johns Hopkins economic study released last week made the front pages here. This is a far cry from Imperial College London epidemiology studies from almost two years ago that estimated lockdowns were needed to cut deaths by 98 per cent. The three authors, only one of whom, Hanke, is actually at Johns Hopkins, conducted a «meta-analysis» of 34 COVID studies focused on March 16-April 20, 2020. Comparing COVID deaths across jurisdictions, they concluded that mask mandates had the largest impact on mortality with rules such as shelter-in-place or school closings having only marginal effects.
We must not aim simply to restore ‘normality’ for children. Many took to social media in the aftermath, trying to make sense of how the abuse of these defenceless children could have occurred. Some were vehement that Arthur’s death, was the result of lockdown and school closures, whilst others argued that such claims only detract from the culpability of the perpetrators. Thinking in such binary terms, however, does not advance our learning or help to better protect children in the future.
‘Between April and September 2020, the period in which Arthur and Star were both killed, there were 119 child deaths and 153 incidents of serious harm due to known/suspected abuse or neglect, as compared to 89 and 132 during the same period in 2019. During the first month of lockdown, calls to the National Domestic Abuse Helpline increased by around 50% . Fleeing domestic abuse will also have resulted in homelessness for many children, likely compounding their experience of trauma. In England, 15,370 households with children were homeless or threatened with homelessness due to domestic abuse between April 2020 and March 2021, reflecting an increase of almost 14% from the previous year.
| Tom Wilson made his first all-star appearance Saturday in Las Vegas. (Rick Scuteri/AP) |
The 27-year-old was just soaking in his first career all-star appearance, an experience he described as a «dream come true.» The boos, he said, just added to the memories. «Guys had a lot of fun with me being booed, and it is just all part of the journey,» Wilson said in a recent interview with The Washington Post. «’Guys were hearing it and then making nice comments toward me. I had to say to a couple guys, ‘Thanks for having me this weekend,’ because they were all so good to me».