The Federal Reserve held interest rates steady in a decision released Wednesday 20th September 2023, while also indicating it still expects one more hike before the end of the year and fewer cuts than previously indicated next year.
That final increase, if realised, would be it for now according to data released at the end of the Fed two-day meeting. If the Fed goes ahead with the move, it would be the twelfth rate hike since policy tightening began in March 2022.
No change priced in
Markets had fully priced in no move at this meeting, which kept the fed funds rate targeted in a range between 5.25%-5.5%, the highest in some 22 years. The rate fixes what banks charge each other for overnight lending but also affects many other forms of consumer debt too.
While the no-hike was expected, there was plenty of uncertainty over where the rate-setting Federal Open Market Committee (FOMC), would go from here.
Judging from reports released Wednesday 20th September 2023, the bias appears towards more restrictive policy and a higher-for-longer approach to interest rates.
The possibilities of how high the XRP price can go has triggered heated debate among crypto community members over the past week. One particular forecast put the price of the cryptocurrency as high as $10,000 as Ripple advances in the payments sector. However, the validity of this prediction is still heavily debated, leading crypto analysts to weigh in on whether this price point is even possible.
Why The Sudden Bullishness On XRP Price?
Indicators and investors alike turned bullish for the XRP price following Ripple’s partial victory over the United States Securities and Exchange Commission (SEC) in July 2023. The price of the coin had risen over 60% in the days following the ruling as interest soared.
The token’s rally has since slowed down since then, wiping the majority of its gains from the ruling. However, crypto analysts remain bullish. One analyst put the XRP price at $130, while another analyst sees it going as high as $500.
Investors like the coin
XRP’s trading volumes, which have been nearly consistent above $1 billion, also show that investors are heavily attached to the coin. This sustained bullishness is further fueled by Ripple’s exploits in the payments sector, as well as working with various countries on their Central Bank Digital Currencies (CBDCs).
Other sources are more conservative and estimate that XRP price could range from $0.50 to $2.18 by the end of 2023, depending on the outcome of the SEC lawsuit, the development of the Ripple protocol, and the market conditions. Some sources also provide long-term predictions for XRP price based on historical trends.
For example, one source suggests that XRP could reach $14.21 by 2040 and $106.14 by 2050 if it follows Bitcoin’s growth trajectory over the past five years.
What is XRP?
XRP is a cryptocurrency that powers the Ripple network, which is a decentralized platform for cross-border payments. XRP aims to provide fast, cheap, and secure transactions for individuals and institutions around the world.
XRP price predictions are based on various factors, such as the demand and supply of XRP, the adoption and innovation of the Ripple protocol, the regulatory environment, the competition from other cryptocurrencies, and the overall market sentiment.
$10 – $100 range?
Is $10000 possible for XRP price?
According to some sources, XRP price could reach as high as $100-$500 in the next four to seven months, based on the recent ruling that XRP is not a security and the potential growth of Ripple’s partnerships in the payments space. However, this is a very optimistic scenario that assumes a high level of adoption and innovation of the Ripple network.
This is NOT investment advice
However, these predictions are not investment advice and should be taken with a ‘pinch of salt’. The cryptocurrency market is very volatile and unpredictable, and XRP price could be influenced by many factors that are beyond anyone’s control. Therefore, it is advisable to do your own research and analysis before making any financial decisions involving XRP or any other cryptocurrency or any investment.
NOTE: These are not recommendations. Investments may go up or down. Your money is at risk!
Water stress measures the amount of available supply a country uses to meet demand, and is expected to worsen as the climate warms.
A quarter of the world’s population is currently exposed to extremely high annual water stress, according to new data from the World Resources Institute (WRI).
New data from WRI’s Aqueduct Water Risk Atlas show that 25 countries – housing one-quarter of the global population – face extremely high water stress each year, regularly using up almost their entire available water supply. And at least 50% of the world’s population – around 4 billion people – live under highly water-stressed conditions for at least one month of the year.
Living with this level of water stress jeopardizes people’s lives, jobs, food and energy security. Water is central to growing crops and raising livestock, producing electricity, maintaining human health, fostering equitable societies and meeting the world’s climate goals.
Without better water management, population growth, economic development and climate change are poised to worsen water stress.
What’s Causing Global Water Stress?
Across the world, demand for water is exceeding what’s available. Globally, demand has more than doubled since 1960.
25 Countries, Housing One-quarter of the World’s Population, Face Extremely High Water Stress
Increased water demand is often the result of growing populations and industries like irrigated agriculture, livestock, energy production and manufacturing. Meanwhile, lack of investment in water infrastructure, unsustainable water use policies or increased variability due to climate change can all affect the available water supply.
Water stress, the ratio of water demand to renewable supply, measures the competition over local water resources.
The smaller the gap between supply and demand, the more vulnerable a place is to water shortages. A country facing ‘extreme water stress’ means it is using at least 80% of its available supply, ‘high water stress’ means it is withdrawing 40% of its supply.
Without intervention – such as investment in water infrastructure and better water governance – water stress will continue to get worse, particularly in places with rapidly growing populations and economies.
Which Countries Face the Worst Water Stress?
The data shows that 25 countries are currently exposed to extremely high water stress annually, meaning they use over 80% of their renewable water supply for irrigation, livestock, industry and domestic needs. Even a short-term drought puts these places in danger of running out of water and sometimes prompts governments to shut off the taps. We’ve already seen this scenario play out in many places around the world, such as India, Iran, Mexico, South Africa, and even in England.
The five most water-stressed countries are Bahrain, Cyprus, Kuwait, Lebanon, Oman and Qatar. The water stress in these countries is mostly driven by low supply, paired with demand from domestic, agricultural and industrial use.
The most water-stressed regions are the Middle East and North Africa, where 83% of the population is exposed to extremely high water stress, and South Asia, where 74% is exposed.
The 25 counties currently experiencing extreme water stress annually.
1. Bahrain
2. Cyprus
3. Kuwait
4. Lebanon
5. Oman
6. Qatar
7. United Arab Emirates
8. Saudi Arabia
9. Israel
10. Egypt
11. Libya
12. Yemen
13. Botswana
14. Iran
15. Jordan
16. Chile
17. San Marino
18. Belgium
19. Greece
20. Tunisia
21. Namibia
22. South Africa
23. Iraq
24. India
25. Syria
Water Demand Is Exploding in Africa but Plateauing in Wealthier Nations
The biggest change in water demand between now and 2050 is expected to occur in Sub-Saharan Africa. While most countries in Sub-Saharan Africa are not extremely water-stressed right now, demand is growing faster there than any other region in the world. By 2050, water demand in Sub-Saharan Africa is expected to skyrocket by 163% – 4 times the rate of change compared to Latin America, the second-highest region, which is expected to see a 43% increase in water demand.
Demand has plateaued in wealthier countries in North America and Europe. Investment in water-use efficiency has helped reduce in-country water use in high income countries, but water use and dependencies extend beyond national boundaries, and the water embedded in international trade from lower-middle income countries to high income countries will increasingly contribute to rising water stress in low and lower-middle income countries.
Water Stress Could Disrupt Economies and Agricultural Production
Increasing water stress threatens countries’ economic growth as well as the world’s food security.
According to data from Aqueduct, 31% of global GDP – a whopping $70 trillion – will be exposed to high water stress by 2050, up from $15 trillion (24% of global GDP) in 2010. Just four countries – India, Mexico, Egypt and Turkey – account for over half of the exposed GDP in 2050.
According to data from Aqueduct, 31% of global GDP – a whopping $70 trillion – will be exposed to high water stress by 2050
Energy, industrial and agricultural production issues
Water shortages can lead to industrial interruptions, energy outages and agricultural production losses – like those already being seen in India, where a lack of water to cool thermal powerplants between 2017 and 2021 resulted in 8.2 terawatt-hours in lost energy – or enough electricity to power 1.5 million Indian households for five years. Failing to implement better water management policies could result in GDP losses in India, China and Central Asia of 7% to 12%, and 6% in much of Africa by 2050 according to the Global Commission on Adaptation.
Global food security is also at risk. Already, 60% of the world’s irrigated agriculture faces extremely high water stress – particularly sugarcane, wheat, rice and maize. Yet to feed a projected 10 billion people by 2050, the world will need to produce 56% more food calories than it did in 2010 – all while dealing with increasing water stress as well as climate-driven disasters like droughts and floods.
Better Management for a Water-secure Future
It’s good to understand the state of the world’s water supply and demand, but water stress doesn’t necessarily lead to water crisis. For example, places like Singapore and the U.S. city of Las Vegas prove that societies can thrive even under the most water-scarce conditions by employing techniques like removing water-thirsty grass, desalination, and wastewater treatment and reuse.
Solution is NOT expensive
In fact, WRI research shows that solving global water challenges is cheaper than you might think, costing the world about 1% of GDP, or 29 cents per person, per day from 2015 to 2030. What’s missing is the political will and financial backing to make these cost-effective solutions a reality.
If this cost conclusion is accurate – why aren’t we doing it?
V-Bucks are the in-game currency of Fortnite, they can be used to buy virtual items such as skins and loot. However, some players have complained that they were charged for unwanted items and that their children made purchases without their knowledge.
As a result, Epic Games, the developer of Fortnite, agreed to pay $245 million to settle a lawsuit with the U.S. Federal Trade Commission (FTC) and offer refunds to eligible customers.
If you want to apply for a refund, you need to visit the FTC’s official website and fill out a form with your claim number or your Epic Account ID.
You qualify for a v-buck refund if…
You were charged in-game for items you didn’t want between January 2017 and September 2022.
Your child made charges to your account without your knowledge between January 2017 and November 2018.
Your account was locked after you complained about wrongful charges.
Fortnite v-buck refunds
Deadline
The deadline for claims is January 17, 2024. Alternatively, if you want to return a skin or an item that you bought with V-Bucks within the last 30 days, you can do so by following these steps…
In Fortnite, go to account and privacy from the settings page or the ‘Customer Support & Refunds’ button below the gear with three lines in the sidebar menu
”I’d like to buy a new car please’. ‘Yes, of course… do you want a… gas, coal, wood, petrol, diesel, vegetable oil, virgin oil, hydrogen, electric, hybrid, pedal, jet, or rice powered one?” ‘Umm, I think I’ll leave it for now thank you’.
We just don’t have the funds, do we?
UK Prime Minister Rishi Sunak is reportedly planning to water down some of Britain’s climate commitments, saying the country must fight climate change without penalising workers and consumers.
Sunak issued a statement Tuesday in response to a BBC report saying the prime minister is considering extending deadlines for bans on new petrol and diesel cars – currently due in 2030 —- and on new natural-gas home heating.
The news drew dismay from environmental groups, opposition parties and some members of Sunak’s Conservative Party. It broke as senior politicians from the U.K. and around the world gather at the United Nations General Assembly in New York, where Biden and Yellen have placed climate high on the agenda.
Senior Tories who have championed net zero policies are reportedly furious at Sunak’s plans to delay or water down green measures. They warn that the decision will cost the U.K. jobs, inward investment and future economic growth that could have been theirs by committing to the industries of the future.
We won’t save the UK by bankrupting its people – Braverman
Home Secretary Suella Braverman says she backs Rishi Sunak’s expected shift on how the UK gets to net zero carbon emissions.
‘We’re not going to save the country by bankrupting the British people,’ she told BBC Breakfast.
It must be true, I’ve just seen it on the news. Is the UK broke? Is this the real reason for the climate roll-back?
‘We’re not going to save the country by bankrupting the British people’.
I for one am very confused??
Does the UK have the money? Is it a too big-a-burden for the UK tax payer? Can the UK generate enough ‘POWER’ from renewables? The UK needs fossil fuels?
Most of the world still needs fossil fuels!
Are we really ready to switch yet? Renewables and fossil fuels will have to work hand-in-hand for some time yet.
According to the Office for National Statistics (ONS), the UK’s inflation rate dropped unexpectedly in August 2023 to its lowest level since the start of Russia’s invasion of Ukraine, which led to sharp rises in energy and food costs which were already on the rise due to the pandemic.
The Consumer Prices Index (CPI) rose by 6.7% in the 12 months to August 2023, down from 6.8% in July. The Consumer Prices Index including owner occupiers’ housing costs (CPIH) rose by 6.3% in the 12 months to August 2023, down from 6.4% in July.
The ONS said that the main factors behind the fall in inflation were lower prices for clothing, footwear, and second-hand cars, partly offset by higher prices for transport services and recreational goods.
UK Inflation 1989 – 2023 (ONS data)
The ONS also said that the inflation rate was still high compared with historical levels, and that it expected it to rise further in the coming months due to increases in energy bills and supply chain pressures.
Chancellor Jeremy Hunt said the news showed ‘the plan to deal with inflation is working’. Well Jeremy, your comments are encouraging – if you truly believe a 0.1% fall in inflation is ‘working‘. Where were you when the Bank of England lost control of the ‘2% inflation remit’.
‘Don’t worry – the money is being printed as we speak. Come and get your share now!’
Where were you when the excessive ‘uncontrolled’ government borrowing infected the UK’s economy? With all that ‘free’ money sloshing around the system, what did you really expect would happen..?
