Bassnectar Announces Mysterious Two Day Festival Event In Atlantic City

first_imgRenowned producer Bassnectar has revealed plans (well, some plans) for a brand new festival event in Atlantic City, NJ. Following the success of his event in Atlanta last year, Bassnectar has blocked off April 28th and 29th for a two day party featuring performances from ill.Gates, Caspa, Eprm, Nosaj Thing, Ninth Child and The Widdler.Interestingly enough, Bassnectar is keeping the location of the event hidden until “deep o’clock,” according to the announcement. The press release reads: “The theme is ‘creativity’ and we beckon you to join us in co-creating a one-of-a-kind experience – the intention is not to put on a “show” – but to gather from far and wide under one roof: a destination weekend event that is truly a family affair!” According to the artwork, there will not only be performances, but The Haven Sanctuary Space, Interactive Gift Altar, Creativity Zones, Art Participation Areas and more.You can read more about the show here, and see the artwork below.last_img read more

Innovative tool offers hope for children with rapid-aging disease

first_imgLuke Koblan sat at his desk, staring at some data. Excited but baffled, the grad student thought, there’s no way those numbers could be right. He shared the results with his boss, Professor David Liu, and today, that data has spurred a team of scientists from the Broad Institute of MIT and Harvard (including Koblan and Liu), the National Institutes of Health, and Vanderbilt University Medical Center to achieve an almost unbelievable leap for the CRISPR gene-editing tool known as base editing, moving the technology a critical step closer to being a treatment for progeria, a deadly premature aging disease.Several hundred children worldwide live with the malady. In most cases, just one small error involving one of the four main bases, or building blocks, of DNA — a thymine (T) in place of a cytosine (C) at one position in just one copy of the lamin A gene in a cell nucleus — causes the body to produce a toxic protein known as progerin. Toddlers with the progeria develop at a normal intellectual pace but soon lose their hair and body fat, fail to grow, and develop wrinkled skin, osteoporosis, and atherosclerosis, a threat to healthy arteries. Most live to about 14 years old and die from a heart attack or stroke.In a study published in Nature, Koblan, Liu, and the rest of the team used an adenine base-editing treatment in mice to successfully convert an impressive percentage of those errant Ts back to Cs in DNA, RNA, and protein, leading to a dramatic improvement in tissue health (including the heart) and lifespan — mice lived about 2½ times longer with just a single treatment and reached the start of what would be old age in normal, healthy mice. The first base editors were developed in Liu’s lab in 2016.,Because their effort proved so successful, the work not only offers a path to treat progeria, it provides a blueprint for testing novel gene-editing treatments for other genetic diseases like sickle cell anemia and muscular dystrophy.“This degree of lifespan extension in an animal model of progeria is, to our knowledge, unprecedented,” said Liu, the Richard Merkin Professor and director of the Merkin Institute of Transformative Technologies in Healthcare at the Broad Institute, professor at Harvard University, and Howard Hughes Medical Institute investigator.“To our knowledge, this work resulted in the strongest rescue of the symptoms of progeria by multiple measures,” he continued. “Five years ago, we were still finishing the development of the very first base editor. If you had told me then that within five years, a single dose of a base editor could address progeria in an animal at the DNA, RNA, protein, vascular pathology, and lifespan levels, I would have said, ‘There’s no way.’ It’s a real testament to the dedication of the team that made this work possible.”Four years ago, when Koblan, the study’s first author and a Ph.D. candidate in the Graduate School of Arts and Sciences, started to tinker with base editors in progeria cells, he had no expectations. That’s why his original data, which launched the massive collaboration, was so surprising: It showed that their adenine base editor (a Liu lab invention) corrected about 70 percent of disease-causing mutations in the liver cells of a mouse model developed by Francis Collins, director of the National Institutes of Health (NIH), who also discovered the DNA mutation that causes progeria. When Liu saw the results, he asked Koblan if he could share the numbers with Collins.,Koblan said, “One day it was kind of a rinky-dink operation,” composed of him and two postdoctoral researchers at the Dana Farber Cancer Institute: Charles Lin, and Jonathan Brown, who is now an assistant professor of medicine in the Division of Cardiovascular Medicine at Vanderbilt University Medical Center and a corresponding author on the paper. “Then, all of a sudden, the next day you’re collaborating with the director of the NIH. It exploded overnight.”The NIH team, which included co-first author Michael Erdos, reran Koblan and Brown’s experiment and got the same promising results. “That was a nice sanity check,” said Koblan. From there, they teamed up with the Progeria Research Foundation to obtain skin cells from kids with progeria. The treatment corrected the mutation in an astonishing 90 percent of the cultured cells with no detected off-targeting (meaning, the gene editor did not cause any detected unwanted edits, an important sign for the safety of a potential new treatment). Though very promising, the team still needed to verify the treatment would work in live animals. Using the same progeria mouse model (in which mice carry two copies of the human lamin A gene variant that causes the disease), they delivered the treatment either three or 14 days after birth (roughly analogous in maturation level to 1 and 5 years of age in a human).When mice with progeria reach six months old, the disease has already caused rapid deterioration of blood vessels. Healthy cells die off; scar tissue builds up. But mice treated with the team’s base editor saw almost 100 percent restoration of these especially vulnerable cells. “The aorta cross-sections were statistically indistinguishable from a wild-type mouse,” said Koblan. Untreated mice lived an average of 215 days (just over seven months); treated mice lived a median of 510 (just under 18 months) — a 137 percent extension of their lifespan.Since about half of all known disease-causing mutations are single-letter errors (like progeria), other scientists could use this study as a guide to hone base editors to cure more genetic disorders in humans.“But mice certainly aren’t humans,” said Collins in an NIH Director’s Blog post about the study’s results. While he’s hopeful the technique could lead to a cure for progeria, more work needs to be done to ensure the treatment is safe for humans.While the team observed no significant off-target edits, some of the longest-living mice developed liver tumors, a known complication when using adeno-associated viruses (AAVs) to deliver genes into mice that are allowed to live into old age. The side effect has yet to be observed in humans, said Koblan, but to be safe, they hope to eliminate the complication in mice prior to human use. Also, some base editors discovered after the study’s launch have higher editing efficiencies and could be effective with lower doses of the virus. Ongoing and future studies will search for the most ideal base editor, treatment timing, and viral delivery method while monitoring where the editor goes and how it performs once injected.Still, some scientists are eager to start clinical trials soon. “We will find a way to get this done for these kids,” said Leslie Gordon, a Brown University physician whose son Sam died from progeria, in an article in Science. Gordon co-founded the Progeria Research Foundation, which provided the skin cells for the study.Koblan, who met Gordon mid-project, said her work is an important reminder to other scientists that the patient is central. “Once you see the consequences of what you work on, you get a better perspective on what you’re doing and why you’re doing it,” he said. It’s no longer just an intellectual challenge, it’s, ‘I have to get this right, and if I don’t, there are consequences.’”last_img read more


first_imgBy Faith PeppersUniversity of GeorgiaA new player appeared in the sweet onion market about three years ago: organic Vidalia onions.”We’re seeing an increase in that trend,” said Reid Torrance, the University of Georgia Cooperative Extension coordinator in Tattnall County, in the heart of the Vidalia growing region.”Consumers are willing to pay a pretty good price for them,” Torrance said. “But, primarily due to weed control costs, you have to put more money into growing them.”George Boyhan, a UGA Extension vegetable horticulturist, estimates that Georgia has about 50 acres of Vidalias under organic cultivation this year. That’s less than 1 percent of the total acres of onions grown in the state. But both Boyhan and Torrance expect to see that number grow. “I expect there to be some growth, perhaps to 100 acres next year,” Boyhan said. “I don’t think it will become a huge part of the market, but there still is unmet demand.”Torrance said last week’s organic Vidalia onion price was two to three times the price for commercially grown onions. “Believe me,” he said, “if there’s a dollar to be made, people are going to pursue it.”Boyhan believes organic Vidalia onions have the potential to grow into a significant part of the Vidalia onion industry.”They may ultimately rival salad onions in terms of gross receipts to growers,” he said. “Overall, the organic industry is very small in Georgia, with about 1,000 acres total. This is in comparison with 190,000-plus acres in vegetables alone.” Weather and pests can create problems for organic growers, too.”Georgia does not have the cold winters they have up North nor the dry weather they have out West. So organic production is very difficult,” Boyhan said. “Diseases, insects and weed control can be problematic — particularly weed control.”There is little discernable difference in the organic and traditionally grown Vidalias. “Organic onions can be smaller, depending on how well the grower did in fertility, water, weed control, etc.,” Boyhan said. “Smaller onions generally are more pungent than large onions.”To be labeled Vidalia onions, the crop must have been grown in the certified area of the state that includes 12 whole counties and parts of eight others in southeast Georgia. “The Vidalia name for the purposes of marketing onions is controlled by the Georgia Department of Agriculture,” Boyhan said. “Organic Vidalia onions would also have to be certified as organic, which is a whole other process.”(Faith Peppers is a news editor for the University of Georgia College of Agricultural and Environmental Sciences.)last_img read more

College Prep

first_imgWhile it’s hard to imagine middle schoolers living on their own or heading off to college, students need to begin to think about their future education and career goals when they’re in middle school.Parents should begin asking their children about their intended career paths, interests and postsecondary education aspirations before they transition into high school, according to Breanna Coursey, CAES director of student and employer engagement.“There’s really no way to know what you want to do unless you’ve had experience,” Coursey said. “Although middle school seems early to be making decisions about the future, there are numerous things students can begin doing at this age that will help them navigate their options.”Coursey suggests students participate in educational programs or other activities during the summer. Students are better able to navigate the process of deciding what they want to do in the future if they’re active in the community and gain experience by “getting their hands dirty,” she said.Unfortunately, students tend to be very shy at that age and don’t always want to try new experiences that take them out of their comfort zones, she said. Convincing 12-, 13- and 14-year-olds to think about their future when it  seems so far away is another challenge for parents and academic professionals. Coursey, a former Oconee County, Georgia, middle school teacher, believes it’s important for parents and guardians to help their children formulate a game plan as they think through their high school pursuits and course schedule.“It’s helpful to have parents who are supportive and encourage their children to try new things, even things they may think they won’t like. Sometimes it’s as important to know what you don’t want to do as it is what you do want to do,” Coursey said.Georgia middle schools expose students to occupations that encompass different skill sets. Jamie Wise, a Career, Technical and Agricultural Education (CTAE) teacher at Eighth Street Middle School in Tifton, Georgia, says students at her school take field trips to places like the fire department, Publix and the WALB TV station in Albany, Georgia.“The kids see real people who are from their area and learn how they got there. Then, when I have somebody like Katie (Murray) come in, the children are like, ‘OK, so this is the way I actually get there,’” Wise said. Murray, the student recruiter on the UGA Tifton campus, speaks during College Days at Eighth Street Middle School and Pelham City Middle School in Pelham, Georgia. She speaks to seventh- and eighth-graders about the many career options available and how they can prepare for a possible future at UGA.Mandy Marable, a UGA Cooperative Extension 4-H specialist, believes 4-H provides students with an opportunity to discover their interests them through 4-H Project Achievement. It is one of Georgia 4-H’s four core programs. Students in fourth through eighth grade pick a topic of interest, research it, write about it and present what they learned. The students compete in their county for a chance to advance to the district, state and national levels.Marable has seen firsthand the impact of 4-H Project Achievement. Her son, Jack Durham, a middle school student, participates in the program.“Is he ready to determine his career track? Not necessarily,” Marable said. “But he does know, based on his 4-H project work in the past, that he enjoys learning about agriculture in our state, and he also really enjoys aviation. He’s been able to explore some of that through the different projects he’s participated in.”Whether it’s through 4-H, different summer camps or various activities throughout the school year, there are many ways for middle school students to develop new interests.“Students in middle school are starting to think about their high school classes, and maybe they’re not totally to the point of deciding what they want to do, but they’re at least starting to navigate the process,” Coursey said. “Throughout middle school, they take exploratory classes. They’ve rotated through elective options to try to feel out what they might be interested in. They’re definitely in that career-exploration phase of life.”To learn more about Georgia 4-H, go to read more

Nantahala River Re-Opens

first_imgActing District Ranger David Perez meeting with representatives from Nantahala Gorge Association and American Whitewater before the river assessment. Duke Energy released water on Saturday, August 31. They had not performed a release since before the landslides occurred in order to provide a safe environment for U.S. Forest Service contractors to perform debris removal operations. They proceeded to release water through the long weekend in order to draw down lake levels and move back toward normal operation. Duke Energy, North Carolina Department of Transportation, Swain County Emergency Management Services, and the U.S. Forest service monitored the water release and did not observe any significant impacts. Landslide site after debris removal operations were completed. This site was approx. 75% blocked with landslide debris.  On Tuesday, September 3, the U.S. Forest Service conducted some chainsaw work to remove potential strainers, downed trees in the river.  This was followed up by a float trip down the river to identify and address any additional concerns. The float team included the U.S. Forest Service, representatives from the Nantahala Gorge Association and American Whitewater. During the assessment, the team did not identify any additional obvious hazards. Visitors, please be aware, the landslides in the Nantahala Gorge changed the river in some places and paddlers should use caution. The landslides occurred Saturday, August 25, and created significant damage and debris blockages on US Highway 19/74. North Carolina Department of Transportation cleared all debris from the highway and repaired damaged portions by Tuesday morning. Once the road opened, U.S. Forest Service sent in a team to assess landslide impacts to the Nantahala River and the scale of the cleanup effort. Contractors were immediately mobilized and began to remove landslide debris from the Nantahala River on Wednesday, after a field review and opinion from US Fish and Wildlife and US Geological Survey. The debris removal operations in the river were completed by the end of Friday, August 30th, three days later. “The landslide cleanup in the Nantahala Gorge has been a success. I appreciate the public’s patience with us as we worked through it. In the end, I couldn’t be happier and more grateful for all the support from Duke Energy, Swain County Emergency Management, NC-Department of Transportation, Nantahala Gorge Association, American Whitewater, US Fish and Wildlife Service, and all the Forest Service employees that worked tirelessly. Thank you all,” states David Perez, Acting Nantahala District Ranger. Nantahala District River Ranger Nathan Dewhurst removing debris from Nantahala River.  Franklin, NC – September 4, 2019-  The Nantahala River in the Nantahala Gorge has reopened to the public for all uses. A technical team assessed the river for potential hazards from the recent landslides yesterday, Tuesday, September 3, and did not find any areas of concern. The team included U.S. Forest Service staff and partners with the Nantahala Gorge Association and American Whitewater. Contractors worked 12 hour days with as many as 9 excavators and 9 dump trucks at any given time. Throughout the entire operation, approximately 7,600 tons of soil and rock was removed and approximately 150 loads of woody debris. Follow the National Forests in North Carolina on Facebook ( or Twitter ( for more news and features.“USDA is an equal opportunity provider, employer, and lender.”last_img read more

Biden should choose new disarmament agenda—starting with the Mine Ban Treaty

first_imgAt Daily Kos on this date in 2017—Donald Trump says he believes Putin about election, says US intelligence full of ‘political hacks’:Though the White House yesterday announced that there was no scheduled meeting between Trump and Putin, the Kremlin disagreed. And one of them was right. In fact, Donald Trump is convinced that the Kremlin is always right,Trump said he took Putin at his word that Russia did not seek to interfere in the US presidential election last year, despite a finding from US intelligence agencies that it did. …“He said he didn’t meddle. He said he didn’t meddle. I asked him again. You can only ask so many times,” Trump told reporters aboard Air Force One as he flew from Da Nang to Hanoi in Vietnam. Trump spoke to Putin three times on the sidelines of summit here, where the Russia meddling issue arose.They were just short meetings. Just long enough for Trump to assure Putin that they were simpático. Just long enough for Trump to give his position on US intelligence officials. THREE OTHER ARTICLES WORTH READINGThe Myth of the Latino Vote and What Newsrooms Must Learn From 2020, by Perla Trevizo. This election once again showed the need for more distinct voices in newsrooms. ProPublica and Texas Tribune reporter Perla Trevizo explains why newsrooms must comprise and engage the communities they cover — and not just before an election. How the Trumps Helped Anti-Vaxxers Spread Lies About the COVID Vaccine, by David Gilbert. Trumpworld figures, including the president, supercharged anti-vaxx disinformation. Final Reckoning: The 50 Most Disgraceful People of the Trump Administration, by David Halperin. We’re avoiding all the awful outside allies and toadies, from Sean Hannity to Lil Wayne, Jerry Falwell Jr. to James O’Keefe, the late Bob Murray to Vladimir Putin to Diamond and Silk. We focus on the people paid by taxpayers (and Trump campaign donors) to destroy the country and the planet. Plus, of course, Rudy Giuliani. TOP COMMENTS • RESCUED DIARIESQUOTATION“All across our planet, crucial connections are being disrupted. The stability that we and all life relies upon is being lost. What we do in the next 20 years will determine the figure for all life on Earth.”           ~~Sir David Attenborough, “Our Planet,” 2019TWEET OF THE DAYx BLAST FROM THE PAST- Advertisement – Biden can start with the Mine Ban Treaty. Early this year, the Trump administration revised U.S. antipersonnel landmine policy to consider using those weapons anywhere in the world. As a candidate, Biden indicated he would return to the earlier Obama-Biden approach, which instead set the goal of eventual U.S. accession to the treaty. […]Biden can start with the Mine Ban Treaty. Early this year, the Trump administration revised U.S. antipersonnel landmine policy to consider using those weapons anywhere in the world. As a candidate, Biden indicated he would return to the earlier Obama-Biden approach, which instead set the goal of eventual U.S. accession to the treaty. […]Similarly, a total of 110 countries—among them the vast majority of our NATO allies—are now party to the Convention on Cluster Munitions, which bans these namesake weapons that are currently used to international outcry in harming civilians in Nagorno-Karabakh. The last significant U.S. use of cluster munitions was in 2003 (aside from a single attack in 2009). It’s time to recognize these too have no place in our arsenal. […] – Advertisement –last_img read more

Following the example of the Lika Quality system, Zadar County is launching its regional quality system

first_imgBut most importantly, there are currently 169 products in the system from 59 manufacturers from the destination Lika, which includes the Lika-Senj, Zadar and Karlovac counties. The Lika Quality system is a regional quality system of food, beverages and souvenirs produced in Lika. The Lika Quality logo is designed as a combination of a traditional Lika hat and an international quality label – the letter Q. The logo is protected by the State Intellectual Property Office of the Republic of Croatia as a guarantee stamp.  Lag Lika, ie Lika Quality, is an excellent example of how to strategically develop and brand a tourist destination. Thus, Ivana Starčević from Lika Local Action Group and Petra Butković and Viktorija Rogić from Lika Destination Cluster presented to their colleagues from Zadar County this excellent model of connecting tourist participants with local producers, ie family farms, which works on the market, which is most important throughout approach. The first successful model in Croatia, not to deal with form, but with content, and to have succeeded on the market. Representatives of Zadar County want to launch a quality system in their county. Aware of the fact that every region in Croatia has an extremely rich gastronomic offer and very high quality producers, they want to help producers from the Zadar County and motivate them to continue producing their quality products, but in this way they want to achieve that Zadar County, just like Lika a real gastro destination.  The Lika Quality model, which is unique in Croatia in many ways and the success it has achieved, also interested the neighboring Zadar County, so the Department for Rural and Island Development and Agriculture and Fisheries in Zadar County was in Gospić today to present and get to know this unique system. . As they say from the Lika Destination Cluster, this is not the first time that other regions are inquiring about launching the Lika Quality system because so far several LAGs from other parts of Croatia are interested in launching the label, which only proves and confirms how commendable the Lika Quality system is. project.  Bravo for cooperation, openness, proactivity and synergy. We chronically miss and need that in Croatia, and especially in tourism. It is not a shame not to know, it is a shame not to ask and stick to the status quo in today’s modern age where information is available to us in the palm of one hand, both immediately and now. Especially when we have a successful model in Croatia. Getting useful and practical advice first hand is invaluable, because it can skip some initial problems and challenges and accelerate the development of a project. Rather, buy the know-how and make your own authentic and different version of the story. That is why this step taken by the Zadar County is an excellent example of cooperation and proactivity, and we have a lot of similar excellent positive business models in Croatia. You just need to ask and see live how business models in the market behave. Because one thing is theory, and something else is practice. Products in the Lika Quality system are available at the joint Lika Quality point of sale in the Plitvice Lakes National Park, where for the first time small local producers had the opportunity to sell their products under a common brand in one of the most visited places in Croatia. Soon the products will be on sale in NP Northern Velebit, NP Paklenica, PP Velebit and other protected areas in the destination Lika.last_img read more

Pierre-Emerick Aubameyang’s priceless reaction to stunning Nicolas Pepe free-kick

first_imgPierre-Emerick Aubameyang’s priceless reaction to stunning Nicolas Pepe free-kick Comment Metro Sport ReporterFriday 25 Oct 2019 5:30 amShare this article via facebookShare this article via twitterShare this article via messengerShare this with Share this article via emailShare this article via flipboardCopy link7.6kShares Nicolas Pepe scored twice in ten minutes (Picture: Getty)Nicolas Pepe rescued Arsenal with two stunning free-kicks in the final ten minutes to hand the Gunners a 3-2 win against Vitoria.Unai Emery’s side were far from their best and found themselves 2-1 down in the second half after Marcus Edwards and Bruno Duarte scored for the visitors either side of Gabriel Martinelli’s strike.Arsenal were headed towards a discouraging result in what has been a difficult week for Emery but Pepe popped up twice to reverse the result.The Ivorian’s first was a clever strike that wrong-footed the goalkeeper but his second was even better as he clipped an exquisite effort round the wall and into the top corner.AdvertisementAdvertisementADVERTISEMENTIt was a huge win for the Gunners and the relief was written all over Pierre-Emerick Aubameyang’s face in the stands.The Gabon forward was not part of the matchday squad and watched on with team-mate Sokratis.And he couldn’t keep his hands of the Greek defender as he wildly celebrated Pepe’s winner in injury [email protected] and @SokratisPapa5 reaction to Pepes goal 😍😍 #arsenal— shah (@shah486) October 24, 2019Arsenal can now take confidence into Sunday’s clash against Crystal Palace at the Emirates.Aubameyang can be expected to come straight back into the side, though Alexandre Lacazette started on Thursday meaning the Gabon forward could be pushed out to the left again.MORE: Robin van Persie slams Arsenal boss Unai Emery and reveals why he’ll never compare to Arsene Wengercenter_img Advertisement Advertisementlast_img read more

Capital Markets Union could trigger relaxation of prudential investment rules

first_imgIn its paper, the Commission said a growing occupational and private pension market could assist in a move toward market-based financing, following a marked slowdown in lending by banks in the wake of the financial crisis.Growing the secuiritisation market and offering investors better access to the credit information of SMEs were two additional reforms viewed as important building blocks of the CMU, first highlighted last year.On barriers from prudential regulation, the Commission added: “Further work is needed to identify lower-risk infrastructure debt and/or equity investments, with a view to a possible review of prudential rules and the creation of infrastructure sub-classes.”Addressing IORPs, the paper noted that new rules were being discussed that would help remove existing national barriers preventing pension funds from investing in long-term assets, a likely reference to wording in the revised IORP Directive that overruled national investment restrictions that hindered growth.This is despite the Commission previously being warned that revisions to the Directive were “at odds” with the creation of the CMU. In line with Hill’s earlier comments that the absence of a Europe-wide personal pensions market was an obstacle to the creation of the CMU, the paper also asked if stakeholders would back the launch of a single, standardised cross-border product.The European Insurance and Occupational Pensions Authority has been working on details of a potential 29th Regime for personal pensions for a number of years. The Commission further signaled its intent to tackle tax rules that would discriminate against cross-border investments in property, saying it would take action “as necessary” where problematic arrangements were identified.Early reaction from stakeholders was positive, with the UK’s National Association of Pension Funds saying it was important to create an environment “conductive” to long-term investment.Joanne Segars, the organisation’s chief executive, added: “But it is important to remember that any reforms to the functioning of European capital markets should be seen through the lens of the providers of capital, in particular pension funds.”The European Fund and Asset Management Association’s (EFAMA) director general Peter De Proft said EU policymakers were right to encourage capital market cohesion as it would “diversify the sources of funding of the economy”.The Commission’s consultation on the CMU will conclude by mid-May.For more on the role of sustainable investment within the CMU, see IPE’s past coverage of the topic,WebsitesWe are not responsible for the content of external sitesLink to Commission Green Paper on the Capital Markets Union The European Commission has flagged up national tax regimes and the absence of a cross-border pensions market as two barriers to the creation of the Capital Markets Union (CMU).Publishing its green paper on the CMU, commissioner for financial stability Jonathan Hill said the ensuing three-month consultation would look at ways of building a single market for capital “from the bottom up” and was a “classic” single market project.The European executive also highlighted that existing prudential regulation could act as a barrier to attracting long-term financing, especially from institutions regulated by Solvency II – such as pension providers in the Nordic region.“Capital Markets Union is about unlocking liquidity that is abundant, but currently frozen, and putting it to work in support of Europe’s businesses, and particularly SMEs,” he added.last_img read more

Coronavirus: Australia leads global economic fightback, and property will signal the way out

first_imgPer capita Australia ranked second, behind Germany, as being the best placed nation to ride out the economic downturn, while as a percentage of GDP it ranked third, surpassed only by Germany and Japan.PRD chief economist Dr Diaswati Mardiasmo told The Courier-Mail that the numbers showed that Australia’s fiscal policy had put the coutry in a strong position for recovery. Empty parks and streets in Brisbane City due to social distancing rules linked to the Coronavirus pandemic. Picture: Russell ShakespeareAustralia is among the top three countries in the world best placed to ride out the economic fallout of COVID-19, with experts predicting property will signal the recovery.A report by PRD Nationwide called “Developed Country Response to COVID-19”, looked at all G20 nations and their packages designed to bolster economies and jobs (in USD). 1. Germany 21.4% $825.99billion2. Japan 14.5% $747.89325 billion3. Australia 14.4% $197.6576 billion (Source: PRD Nationwide) FOLLOW SOPHIE FOSTER ON TWITTER Video Player is loading.Play VideoPlayNext playlist itemMuteCurrent Time 0:00/Duration 0:58Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:58 Playback Rate1xChaptersChaptersDescriptionsdescriptions off, selectedCaptionscaptions settings, opens captions settings dialogcaptions off, selectedQuality Levels720p720pHD432p432p216p216p180p180pAutoA, selectedAudio Tracken (Main), selectedFullscreenThis is a modal window.Beginning of dialog window. Escape will cancel and close the window.TextColorWhiteBlackRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentBackgroundColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyOpaqueSemi-TransparentTransparentWindowColorBlackWhiteRedGreenBlueYellowMagentaCyanTransparencyTransparentSemi-TransparentOpaqueFont Size50%75%100%125%150%175%200%300%400%Text Edge StyleNoneRaisedDepressedUniformDropshadowFont FamilyProportional Sans-SerifMonospace Sans-SerifProportional SerifMonospace SerifCasualScriptSmall CapsReset restore all settings to the default valuesDoneClose Modal DialogEnd of dialog window.This is a modal window. This modal can be closed by pressing the Escape key or activating the close button.Close Modal DialogThis is a modal window. This modal can be closed by pressing the Escape key or activating the close button.PlayMuteCurrent Time 0:00/Duration 0:00Loaded: 0%Stream Type LIVESeek to live, currently playing liveLIVERemaining Time -0:00 Playback Rate1xFullscreenHow much do I need to retire?00:58More from newsParks and wildlife the new lust-haves post coronavirus9 hours agoNoosa’s best beachfront penthouse is about to hit the market9 hours ago First look: Karl and Jasmine’s $3.6m Noosa retreat Simon Pressley, the head of Propertyology, a buying agency, expected the crisis to mirror those of the past, where the rebound began “with a real estate surge before anything else”.He said shelter was the one thing 25.5 million Australians had in common, and the way to build confidence en masse was around the value of people’s homes. “A strong property market will again lead Australia out of this latest coronavirus health crisis, potentially starting as soon as six months’ time.”Mr Pressley expected the coming months to lead to record low transaction volumes, coming off supply that was already tight in the lead-up to the epidemic. Germany $9,890.08Australia $7,842.56United States $6,077.83 (Source: PRD Nationwide) Stimulus as % of GDP (USD) India 38,000,000Mexico 18,000,000China 5,000,000Canada 4,000,000Germany 1,400,000Australia 750,557 (Source: PRD Nationwide) QLD leads with COVID-19 rental assistance “Against other developed countries Australia’s stimulus package as a percentage of 2019 GDP (14.4 per cent) is on the higher end, above the US and Canada, and significantly higher than our neighbours New Zealand,” Ms Mardiasmo said. Walkers are urged not to press buttons at crossings as part of moves to flatten the coronavirus curve in Brisbane.“From a stimulus per capita perspective, Australia is in a strong position, only second to Germany. We are well ahead.”She said taking the number of jobs lost (750,557) and the stimulus package as a percentage of 2019 GDP, Australia had a strong ability to provide the population financial assistance. “In some instances more favourably compared toother countries.” It was the stimulus packages and ability of the country to keep people employed in the property sector that underpinned the relative strength when compared with other parts of the economy that had been dramatically hit, she said. Number of Job Losses Stimulus Per Capita (USD) “Let’s not forget that Australian real estate already had a significant shortage of properties listed for sale before this virus tipped our communities upside down.”Yet unlike the previous GFC, he said, this time credit policy was so tight in Australia that the quality of loans approved in the past few years was “exceptionally high”.He said the variety of support packages plus record low interest rates and empathetic banks “will cushion property owners through this and greatly minimise the need for distressed residential property sales”. “As winter becomes spring, and spring becomes summer, we will all come bursting out of our cocoons with a renewed sense of freedom. There will be an enormous release of pent-up demand for goods and services. For property it’s likely to be akin to a flock of seagulls fighting over a chip.”Among the financial assistance being provided is the JobKeeper payment ($1,500 a fortnight for business ownes), JobSeeker payment ($550 fortnight for those who have lost their jobs) and the coronavirus supplement ($550 fortnight, tops up the JobSeeker payment). MORE: Home values rise despite coronavirus falloutlast_img read more