U.S. economy needs ‘really big’ Covid relief package, says Paul Krugman

first_imgKrugman, an economics professor at City University of New York’s Graduate Center, said it’s difficult to put a total price tag on an ideal relief package for the U.S. But he stressed that a “really, really big” one is needed given that the U.S. hasn’t managed to contain the virus.The economist, whose research interest includes macroeconomics and international economics, won the Nobel prize in 2008 for his analysis on trade patterns and location of economic activity. – Advertisement – “We’re still 11 million jobs down from where we were before this thing hit and all of those people are without wages, state local governments are in extreme financial distress, thousands of businesses — maybe hundreds of thousands — are on the verge of collapse,” he said.“So we need a lot to keep this thing afloat.”  The U.S. enacted a $2 trillion package known as the CARES Act in March, but those benefits have either expired or will soon end. Negotiations for another pandemic relief has been at an impasse for months after Republicans and Democrats failed to agree on what should be in the package.Democrats proposed another $2.2 trillion relief package that includes funding for state and local governments, as well as extending enhanced unemployment benefits of an additional $600 weekly subsidy. Republicans, meanwhile, wanted a smaller deal that would focus more on payment to individuals and business loans. Paul KrugmanNobel prize-winning economist A lot of people are going to be out of work, a lot of businesses are going to be stressed. We need to just make life tolerable for them.- Advertisement – The U.S. may need several hundred billion dollars a month in “disaster relief” to keep the economy afloat as a raging coronavirus outbreak continues to suppress prospects for workers and businesses, Nobel prize-winning economist Paul Krugman said on Thursday.“We really are still very much in the disaster relief stage,” he told CNBC’s “Street Signs Asia.”“A lot of people are going to be out of work, a lot of businesses are going to be stressed. We need to just make life tolerable for them,” he added.- Advertisement – Senate Majority Leader Mitch McConnell (R-Ky.), who has won his reelection bid for a seventh term, said on Wednesday that the additional relief package will be his priority when the chamber reconvenes next week.Still, Krugman said there’s no indication that McConnell would agree to a large relief bill or extend enhanced unemployment benefits which have been the “most important policy” to cushion the pandemic’s economic impact.Republicans, he noted, viewed those benefits as “rewarding people for not working” and therefore, may not be inclined to renew that payout.“That was far more effective than anything else in the package, but we’ve seen very, very little … on the part of Senate Republicans to resume enhanced employment benefits,” he said. Nobel Prize-winning economist Paul Krugman.Panayiotis Tzamaros | ullstein bild via Getty Images – Advertisement –last_img read more

Smart homes lend a hand, improve toilet etiquette

first_imgSyncWise Smart Building Solutions managing director Roy Baharal controls a home from a tablet. Photographer: Liam Kidston.IF you don’t wash your hands after flushing, a smart home will know and it won’t hesitate to tell on you.Enabling technologies in the home are becoming more intuitive, taking over those everyday tasks that can be monotonous in the home.They also are enabling people to live at home for longer with greater independence. “One client wanted to remind the kids to wash their hands after going to the toilet, so we programmed the lights to blink next to the vanity,” SyncWise Smart Building Solutions managing director Roy Baharal said. The next five years will see an increase in people turning their houses into smart homes according to Queensland Smart Home Initiative partner, Tunstall Healthcare.“With the changes we have in telecommunications infrastructure, 4G and the NBN, we’re going to see a big uplift in smart home technology to care for people with disabilities, and people who are ageing,’’ Tunstall marketing manager Lisa Capamagian said.Changes to the National Disability Insurance Scheme and consumer directed care funding will also enable individuals to put some of that money toward introducing intelligent assistive technology in the home.“It’s becoming more affordable and technology is becoming more intuitive which makes it easier for the older generation to work with and it is less intrusive in their lives, helping them to stay at home longer. Sometimes you just need a reminder …More from newsParks and wildlife the new lust-haves post coronavirus16 hours agoNoosa’s best beachfront penthouse is about to hit the market16 hours ago“We can take your face and use facial recognition so that as you approach the house we can initiate a scenario to welcome you and open the doors.’’Mr Baharal will speak at the Brisbane Home Show this week as part of the Build Renovate Decorate seminar series. He will explain how to future proof a house using smart home technology with improved security and systems that can work with multiple manufacturers all controlled via a central tablet.“It’s a very user friendly system. For some applications we use voice control too.”A basic smart home could have light circuit controls, cameras and an integrated intercom system, with more complex systems designed to do everything from brewing your morning coffee, to turning off airconditioning in a room when a window is opened.center_img >>FOLLOW THE COURIER-MAIL REAL ESTATE TEAM ON FACEBOOK<<last_img read more

Patching to begin on US 52 in Franklin and Dearborn Counties

first_imgFranklin and Dearborn Counties, IN — INDOT contractors plan to begin asphalt patching on a nine-mile section of US 52 in Franklin and Dearborn Counties on or after Tuesday, August 18. The work is part of a $1.6 million resurface contract between SR 1 and I-74. Patching will be completed under lane closures with flagging, followed by paving.The road work is expected to be complete by the end of November. Motorists are reminded to slow down, use extra caution, and drive distraction-free through all work zones. All work is weather dependent.last_img read more

Mata at the double in United win

first_imgJuan Mata inspired Manchester United to a 4-0 victory at Newcastle which took them into the Barclays Premier League’s top six. The win was not without controversy, with referee Kevin Friend – the official who had to deal with Alan Pardew’s head-butt on Hull’s David Meyler – coming under fire for awarding the free-kick from which Mata gave United a first-half lead. However, there were no complaints thereafter as Mata extended the lead five minutes after the break and further strikes from Javier Hernandez and substitute Adnan Januzaj wrapped up the victory. The defeat was Newcastle’s fourth in five league games, a run which has seen them score just one goal, and in truth there was little prospect of them completing a first league double over United since 1931 from the moment that Mata struck. There was an end-of-season feel about the game before kick-off, with Moyes keeping one eye on Munich and opposite number Pardew missing five of the men who started the 1-0 win at Old Trafford in December. As a result, there was inevitably a makeshift look about both sides with United patient in their build-up, in which a deep-sitting Marouane Fellaini figured prominently, as they tried to find space for Hernandez and Mata. Newcastle’s approach was more direct with Davide Santon, lining up at right-back rather than on the left, making life difficult for Patrice Evra to supply a series of dangerous crosses. It was he who produced the second-minute ball from which Dan Gosling, making his first Barclays Premier League start for the Magpies since December 2011, headed just wide, and he who picked out striker Papiss Cisse to force a fine 24th-minute save from Anders Lindegaard with a glancing header. But, too often, the home side squandered possession in promising positions to let the visitors off the hook. The 25-year-old Spaniard struck twice to take his tally to three goals in his last two games and pay off another slice of his £37.1million transfer fee. On a day when manager David Moyes was without the injured Wayne Rooney, and decided to make eight changes to the side which drew 1-1 with Bayern Munich in midweek ahead of Wednesday night’s return leg, United ran out deserved winners as the Magpies’ early promise dissolved. Moyes’ men lost winger Ashley Young with a dislocated finger after just 18 minutes and home keeper Rob Elliot had little to do for much of the first half. However, the game turned six minutes before the break and it did so in controversial circumstances. Gosling was furious to be penalised for a trip on Darren Fletcher on the edge of the box, but as the home fans made their feelings known to Friend, Mata stepped up to curl a delicious left-foot free-kick high into the top corner with Elliot powerless to resist. The game could have been effectively over in the final minute of the half when, after Friend had allowed play to continue with central defender Mike Williamson appealing for a foul by Hernandez, the Mexican ran on to Shinji Kagawa’s through-ball to shoot past Elliot, only to see the ball come back off the foot of the post. However, any hopes of a fightback were dealt a fatal blow within five minutes of the restart and this time Newcastle had no-one to blame but themselves. Skipper Fabricio Coloccini’s ambitious attempt to chest a long ball to full-back Massadio Haidara fell short and Kagawa stole in to pick out Hernandez’s run. The striker fed Mata inside the box and he cleverly side-stepped Coloccini’s desperate lunge before slotting calmly into the bottom corner. Hernandez might have made it 3-0 with a snapshot which flew over on the hour, and it was then that the Magpies opted for change with Hatem Ben Arfa replacing the ineffectual Luuk De Jong. But Hernandez made amends with 25 minutes remaining when he slid home from close range after Januzaj and Kagawa teamed up to play him in. Lindegaard had to turn away Cisse’s curling 71st-minute effort and then produced a remarkable stop to deny the same man from just six yards before Mata set up Januzaj to complete the rout with an audacious back-heeled pass. Press Associationlast_img read more


first_imgBREAKING NEWS: There has been a suspected case of killer disease Ebola in Co Donegal.The body of the man has been put in isolation.A man in his 40s and from Mountcharles was found dead showing signs of the disease.The body of the person, who recently returned from Sierra Leone in Africa, has been put in isolation at Letterkenny General Hospital. A statement from the HSE confirmed “The public health department was made aware earlier today of the remains of an individual, discovered early this morning, who had recently travelled to the one of the areas in Africa affected by the current Ebola virus disease outbreak.”It added that the appropriate national guidelines, in line with international best practice, are being followed by the public health team dealing with the situation.This means that the body of the deceased has been isolated to minimise the potential spread of any possible virus.Blood samples have been sent for laboratory testing to confirm whether or not this individual had contracted Ebola virus disease. The statement added “Until a diagnosis is confirmed, and as a precautionary measure, the individual’s remains will stay in the mortuary pending the laboratory results which are expected late tomorrow.”“The risk of transmission of any disease is considered to be extremely low.”As a precautionary measure, appropriate infection control procedures are being put in place in the community and at the mortuary pending the outcome of laboratory tests.Dr. Darina O’Flanagan, Head of the HSE Health Protection Surveillance Centre, said; “In general, the risk of contracting Ebola virus disease is extremely low and would involve very close personal contact with the infected individual or their body fluids for there to be any risk at all.”“We await the outcome of the laboratory tests before we will know whether or not this individual had contracted Ebola virus disease. The appropriate public health guidelines are being followed at every stage in this process as a precaution.” Further information on Ebola virus disease can be found on the HPSC’s website at http://www.hpsc.ie and http://www.hpsc.ie/A-Z/Vectorborne/ViralHaemorrhagicFever/Ebola/BODY OF MAN PUT IN ISOLATION IN LETTERKENNY AMID FEARS HE DIED FROM KILLER EBOLA DISEASE was last modified: August 21st, 2014 by StephenShare this:Click to share on Facebook (Opens in new window)Click to share on Twitter (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on Pocket (Opens in new window)Click to share on Telegram (Opens in new window)Click to share on WhatsApp (Opens in new window)Click to share on Skype (Opens in new window)Click to print (Opens in new window)last_img read more