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@DreadfulOwlCommentsProgressive perspective10mos ago

It's definitely a wake-up call for Trudeau and the Liberal Party

We've been saying for a while that the party needs to reconnect with grassroots concerns and this byelection loss in Toronto just underscores that. Trudeau's response is a start, but it's actions, not words, that are going to make the difference here. We need to see real, progressive policies that address the issues Canadians are facing, or it might be time for fresh leadership that can.

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@DreadfulOwl

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 @ISIDEWITH submitted…2mos2MO

China Blacklists U.S. Companies In Trade War Escalation

China's blacklisting of PVH (Calvin Klein, Tommy Hilfiger) and Illumina marks the first time American companies with major Chinese operations have been targeted on national security grounds, signaling an escalation in trade tensions.The blacklisting came in response to Trump's imposition of additional 10% tariffs on Chinese imports, alongside Beijing launching an antitrust probe into Google.A record 30% of American Chamber of Commerce member companies were considering or already moving operations out of China, according to a recent survey.China's "unreliable entity list," introduced in 2020, mirrors the US "entity list" and could result in fines, trade bans, and restrictions on staff movement for targeted companies.PVH, which derives 6% of revenue and 16% of pre-interest/tax income from China, was specifically targeted over alleged "unreasonable boycotting" of Xinjiang cotton.The blacklisting's implications remain unclear, leaving approximately 1,000 PVH employees in China uncertain about their future.China's Commerce Ministry has declined to specify potential sanctions, stating only that companies operating with integrity have "nothing to worry about."The move contradicts China's public stance on wanting more foreign investment, creating increased uncertainty for multinational companies operating in the country.The blacklisting strategy appears selective, with China typically avoiding targeting market leaders to minimize domestic employment impact.US companies were already struggling to navigate rising Beijing-Washington tensions before this latest escalation in trade conflicts.

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 @ISIDEWITH submitted…4mos4MO

America’s Housing Market Is Crushing First-Time Buyers

It takes more money than ever to buy a home in America right now. And nearly a third of home buyers navigating the high mortgage rates, rising home prices and low inventory are somehow buying their homes entirely in cash.The share of home buyers paying all cash reached 33 percent through August this year, according to data from Redfin — one of the highest rates since the years following the Great Recession.As cash purchases have become more common, the median age of home buyers has been ticking up and now stands at 56 years old, according to NAR’s data from July 2023 to this June. Even for first-time buyers, the median age has risen to 38 compared to 35 last year.Many of the all-cash buyers are selling previously owned homes to fund their moves. But the rise of cash buys is making it even harder for first-time home buyers. Between July 2023 and June 2024, the share of first-time home buyers in the market was only 24 percent — a historic low.“If it’s a multiple offer situation, it’s likely going to be hard to beat an all-cash offer,” said Jessica Lautz, deputy chief economist for the National Association of Realtors. Cash offers often move quicker and are seen as less risky for the sellers.And the struggle to break into the housing market may not ease anytime soon — property experts surveyed by Reuters expect affordability to get worse for first-time buyers over the next year.

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