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Real World Economics: BRICS expansion and the dollar’s vulnerability

Published Tue, 25 Feb 2025 17:21:29 GMT

Edward LottermanA French president once asserted, to much acclaim, that the U.S. dollar’s status as a “reserve currency” conferred an exorbitant privilege on our nation.As I write this, members of the six-nation BRICS bloc are meeting in South Africa. The ways in which the dollar’s status harms these nations is a central topic and measures to reduce its influence will be announced.Six other nations are joining the bloc. Many others, including other aspirants to membership, have sent observers. China has held bilateral talks with Brazil, Mexico and Nigeria, among others, on how a greater fraction of their bilateral trade should be settled in their own currencies, not dollars.At the same time, respected and obscure pundits both regularly proclaim how this imminent “downfall” of the dollar will cripple the U.S. economy. There is a particularly silly one by Bethann Moorcraft, on the Moneywise site, asserting that India paying rupees for 100 million barrels of oil from the United Arab Em...

2 arrested, including armed teen, after large brawl at prep football game in Aurora

Published Tue, 25 Feb 2025 17:21:29 GMT

One adult and one teenager have been arrested after a large brawl broke out during a high school football game in Aurora, according to the Aurora Police Department.Related ArticlesCrime and Public Safety | Cherry Creek rolls Ralston Valley, 35-9, as Bruins overcome key injuries to open quest for Class 5A five-peat Crime and Public Safety | Colorado high school football: How Post Preps Top 10 teams fared in Week 1 Crime and Public Safety | Broomfield begins Class 4A title defense with blowout of Longmont Crime and Public Safety | Colorado high school football scoreboard: Week 1 Crime and Public Safety | Keeler: What do CU Buffs’ Deion Sanders and CSU Rams’ Jay Norvell have in common? Neither is locking gates to keep Colorado prep football recruits at home. Officials said multiple fights broke out Friday night during a game between Ridgeview and Vista Prep high schools at the APS Stadium.“...

Band members wounded in Cook's Corner shooting discharged from hospital 

Published Tue, 25 Feb 2025 17:21:29 GMT

Two members of the band that was performing when Wednesday's mass shooting occurred in Orange County have been released from the hospital.The M Street Band was on stage at Cook’s Corner in Trabuco Canyon when authorities say retired Ventura Police Department Sgt. John Snowling opened fire on his wife and other patrons in the crowded restaurant. A picture posted to Instagram by the band shows all five members smiling in front of “get well soon” bouquets and sharing food together. "First M Street get together since Cook's Corner felt so good," the post's caption read. "Such a wonderful outpouring of support from all our friends with flowers, food, cards and well wishes. We are so grateful to you all."A picture posted to Instagram by the band shows all five members smiling in front of “get well soon” bouquets and sharing food together. (Instagram/@mstband)The two injured band members, Dave Stretch and Ed Means, sustained gunshot wounds during the shooting.  Other members of...

Excessive heat warnings issued for Southern California

Published Tue, 25 Feb 2025 17:21:29 GMT

Summer is not over just yet as excessive heat warnings and watches will be in effect across Southern California this week. The National Weather Service has issued heat advisories for Monday and Tuesday for:-L.A. and Ventura County Valleys-L.A. and Ventura coastal plains-Mountains in San Bernardino, Ventura, L.A. and San Luis Obispo counties-Santa Ynez Valley and Cuyama ValleyHigh temperatures will reach anywhere from 8-16 degrees above normal, paired with gusty winds and hot, dry conditions, the NWS said.Some areas will see temps hitting the 90s and even triple digits across inland, valley and desert communities. Overnight temps will also be very warm.The high heat will create an elevated fire risk as gusty winds, dry conditions and excessive heat cover the Southland, an area that already houses the most fire-threatened homes in the state.An excessive heat warning will be in effect across Southern California on Aug. 28-29. (KTLA)An excessive heat warning will be in effect across Sou...

El Segundo Little League team advances to World Series championship 

Published Tue, 25 Feb 2025 17:21:29 GMT

The best Little League team in the entire country is from right here in Southern California. The El Segundo Little League 12U All Stars, who represent the West region of the United States in the 2023 Little League World Series, clinched a spot in the championship game on Saturday afternoon with a 6-1 win over the team representing the Southwest region of the U.S. from Needville, Texas, who they previously lost to earlier in the tournament. The LLWS consists of two brackets; an international bracket and a United States bracket. Teams representing regions from around the world compete against each other on one side while teams from all parts of the United States compete against each other on the other. El Segundo, Calif.'s Brody Brooks (14) is greeted by teammates after hitting a solo home run off Needville, Texas' DJ Jablonski during the first inning of the United States Championship baseball game at the Little League World Series tournament in South Williamsport, Pa.,...

Man shot and killed near Antioch BART station early Sunday morning

Published Tue, 25 Feb 2025 17:21:29 GMT

A 30-year-old man was shot and killed near downtown Antioch early Sunday morning, according to the Antioch Police Department.Officers received reports of a shooting on W. 2nd Street, about a quarter mile from the Antioch BART station, at 1:51 a.m. When police arrived they found a 30-year-old man who had been shot multiple times.The man was transported to a nearby hospital, where he died. According to the police, the man was from Antioch.The Antioch Police Department is currently withholding the identity of the victim pending notification of next of kin. Police are asking are asking anyone with information about the crime to contact Detective Duffy at 925-779-6884 or the Antioch Police Department non-emergency line at (925)778-2441.Related ArticlesCrime and Public Safety | ‘Consequences across the board’: Criminal case dismissals mount amid Antioch police scandals Crime and Public Safety | White man fatally shoots 3 Black people at a Florida sto...

Simitian to hold sidewalk office hours at Princeton Plaza Farmers’ Market

Published Tue, 25 Feb 2025 17:21:29 GMT

Simitian’s sidewalk office hoursSanta Clara County Supervisor Joe Simitian will hold “Sidewalk Office Hours” at the Princeton Plaza Farmers’ Market on Sunday, Sept. 10,11:30 a.m.-12:30 p.m. Community members are invited to stop by to share their thoughts and concerns about local issues, ask questions and learn about county services. All questions are welcome, and no appointment is required.For more information, visit district5.sccgov.org/5th-district/sidewalk-office-hours.Neighborhood NotesALMADEN/WILLOW GLEN>>The California State Assembly and State Senate have both unanimously passed legislation by Sen. Dave Cortese intended to speed up housing development in the state.SB 406 aims to cut repetitive reviews under the California Environmental Quality Act (CEQA) while keeping California’s main environmental law intact. The bill is headed to the Gov. Gavin Newsom’s desk for consideration.“SB 406 cuts red tape without compromising on environmental protection. This bill will stream...

Could Los Gatos soon start charging for hourly parking downtown?

Published Tue, 25 Feb 2025 17:21:29 GMT

In a split vote, the Los Gatos Town Council last month approved hiring a fulltime parking manager to tackle the town’s ambitious plans to overhaul its downtown parking.The council voted 3-2, with Vice Mayor Mary Badame and Councilmember Matthew Hudes against creating the position, which has a salary cap of $200,000 annually.“I think this is something critical, there’s more work to be done in parking, but we need to do the work we’ve already started,” Mayor Maria Ristow said at the Aug. 15 council meeting.As its population grows along with its plans to bring in more tourists, the town is considering switching from free hourly parking to paid parking to break up parking congestion and the resulting traffic.The town has been slowly implementing its 2019 parking action plan, which identified changes like employee parking permits and better way-finding signs, as well as paid parking via kiosks and mobile apps.After Los Gatos rolled out its employee parking program earlier this year...

Campbell masterclass helps audiences get swept up in ‘Cinderella’

Published Tue, 25 Feb 2025 17:21:29 GMT

As part of the U.S. national tour of World Ballet Series’ “Cinderella,” which hits the stage at Campbell’s Heritage Theatre on Nov. 1, producers are holding a “Ballet for All” masterclass prior to the performance.The free masterclass, set for 3 p.m. on the day of the show, is designed as an entertaining way to learn more about classical ballet and is offered to community members as part of an educational outreach program. Participants will meet World Ballet Series cast members in a studio, learn ballet language, see some ballet dancing and discover the challenge of first position. No previous ballet experience is required for those who want to participate.“This is our way to share our love for ballet with everyone,” producers Sasha Gorskaya and Gulya Hartwick said in a statement. “Being the largest touring ballet company in the United States, we understand responsibility of our work in popularizing ballet and breaking the stigma around it being exclusive.”Campbell is one stop on the...

Board Game Day brings dozens of gamers to Milpitas Library

Published Tue, 25 Feb 2025 17:21:29 GMT

The Milpitas Library opened its auditorium to the Fremont Board Gamers Group for the first time on Saturday, Aug. 19.Claude Robinson started the group in January, spurred by the increasing interest in board games since the pandemic, and inspired by the success of a similar group in Oakland. The group initially met at the Bigger Better Games store in Fremont and now sets up at the Fremont Library every other Sunday.Jonathan Cheung and Johnny Chin joined Robinson to lead the expansion of the group. They approached Nicole Sam, Milpitas Library’s adult reference librarian, to host a meet for adult gamers from around the Bay Area. Sam asked the group for their games wish list, which included Bohnanza, Codenames, Carcassonne and Patchwork.Board Game Day drew 35 gamers to the Milpitas Library to discover new games, and share their own. Tim from Pleasanton joined a table and made new friends from Milpitas. On the other side of the library auditorium, Zach shared his Barrage game with Erik a...