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LONDON (AP) — When voters around the globe had their say in 2024, their message was often: “You’re fired.” Some 70 countries that are home to half the world’s population held elections this year, and in many incumbents were punished . From India and the United States to Japan , France and Britain , voters tired of economic disruption and global instability rejected sitting governments — and sometimes turned to disruptive outsiders. The rocky democratic landscape just seemed to get bumpier as a dramatic year careened toward its end, with mass protests in Mozambique and Georgia , an election annulled in Romania and an attempt to impose martial law in South Korea. Cas Mudde, a professor of international affairs at the University of Georgia who studies extremism and democracy, summed up 2024 in Prospect magazine as “a great year for the far right, a terrible year for incumbents and a troublesome year for democracy around the world.” One message sent by voters in 2024: They’re fed up. University of Manchester political scientist Rob Ford has attributed the anti-incumbent mood to “electoral long COVID” -– lingering pandemic-related health, education, social and economic disruptions that have made millions of people unhappier and worse off. High inflation, fueled by Russia’s invasion of Ukraine, and mass displacement from that war and conflicts in the Middle East and Africa have added to the global unease. In South Africa, high unemployment and inequality helped drive a dramatic loss of support for the African National Congress, which had governed for three decades since the end of the apartheid system of white minority rule . The party once led by Nelson Mandela lost its political dominance in May’s election and was forced to go into coalition with opposition parties. Incumbents also were defeated in Senegal, Ghana and Botswana , where voters ousted the party that had been in power for 58 years since independence from Britain. Namibia’s ruling SWAPO party extended its 34 years in power in December -– but only by a whisker. Uruguay’s leftist opposition candidate, Yamandú Orsi , became the country’s new president in a November runoff that delivered another rebuke to incumbents. In India, the world’s largest democracy, Prime Minister Narendra Modi’s Hindu nationalist Bharatiya Janata Party lost its parliamentary majority in a shock election result in June after a decade of dominance. It was forced to govern in coalition as the opposition doubled its strength in Parliament. Japanese politics entered a new era of uncertainty after Prime Minister Shigeru Ishiba’s governing Liberal Democratic Party, which has ruled almost without interruption since 1955, suffered a major loss in October amid voter anger at party financial scandals. It now leads a minority government. The U.K.’s July election saw the right-of-center Conservatives ousted after 14 years in office as the center-left Labour Party swept to power in a landslide. But the results also revealed growing fragmentation: Support for the two big parties that have dominated British politics for a century shrank as voters turned to smaller parties, including the hard-right party Reform U.K. led by Nigel Farage. Britain is not alone in seeing a rise for the right. Elections in June for the parliament of the 27-nation European Union saw conservative populists and the far right rock ruling parties in France and Germany, the EU’s biggest and most powerful members. The anti-immigration National Rally party won the first round of France’s parliamentary election in June, but alliances and tactical voting by the center and left knocked it down to third place in the second round, producing a divided legislature and a fragile government that collapsed in a Dec. 4 no-confidence vote. In Austria, the conservative governing People’s Party was beaten by the far-right, pro-Russia Freedom Party in September, though other parties allied to keep it out of a coalition government. Nepotism and political dynasties continued to exert influence -– and to be challenged. After messy elections in February, Pakistan elected Prime Minister Shehbaz Sharif, younger brother of three-time leader Nawaz Sharif. Indonesia, Southeast Asia’s largest democracy, elected President Prabowo Subianto , son-in-law of the late dictator Suharto . Bangladeshi Prime Minister Sheikh Hasina, the world’s longest-serving female leader, won a fourth successive term in a January election that opposition parties boycotted . Months later, her 15-year rule came to a tumultuous end: After mass student-led protests in which hundreds were killed, Hasina was ousted in August and fled to India. In Sri Lanka, voters also rejected a discredited old guard. Voters elected the Marxist Anura Kumara Dissanayake as president in September, two years after an island-wide public movement by an engaged middle class removed the long-ruling Rajapaksa clan. Covert meddling and online disinformation were growing concerns in 2024. Meta, the parent company of Facebook, Instagram and WhatsApp, said that this year it took down 20 election-related “covert influence operations around the world, including in the Middle East, Asia, Europe and the U.S.” It said Russia was the top source of such meddling, followed by Iran and China. In Romania, far-right candidate Călin Georgescu came from nowhere to win the first round of the presidential election in November, aided in part by a flood of TikTok videos promoting his campaign. Amid allegations of Russian meddling, Romania’s Constitutional Court canceled the presidential election runoff two days before it was due to take place after a trove of declassified intelligence alleged Russia organized a sprawling campaign across social media to promote Georgescu. No date has yet been set for a rerun. Moldova’s pro-Western President Maia Sandu won a November runoff against her Moscow-friendly rival in an election seen as pivotal to the future of one of Europe’s poorest nations. Georgia has seen huge protests since an election in October was won by the pro-Moscow Georgian Dream party, which suspended negotiations on joining the European Union. The opposition and the pro-Western president, Salome Zourabichvili, have accused the governing party of rigging the vote with Russia’s help. Possibly the year’s most seismic result, Donald Trump’s victory in November’s U.S. presidential election, has America’s allies and opponents bracing for what the unpredictable “America-first” leader will do with his second term. And instability already reigns on several continents as the year ends. Venezuela has been in political crisis since a July election marred by serious fraud allegations which both President Nicolás Maduro and the opposition claim to have won. Amid opposition protests and a harsh crackdown, opposition candidate Edmundo González went into exile in Spain. In Mozambique, the Frelimo party that has ruled for half a century was declared the winner of an October election that the opposition called rigged. Weeks of ongoing street protests across the country have left more than 100 dead. South Korea’s conservative President Yoon Suk Yeol — weakened after the liberal opposition retained control in an April election -– astonished the country by declaring martial law in a late-night announcement on Dec. 3. Parliament voted to overturn the decision six hours later, and within days voted to impeach Yoon. The crisis in the deeply divided country is far from over. Democracy’s bumpy ride looks likely to continue in 2025, with embattled incumbents facing challenge in countries including Germany, where Chancellor Olaf Scholz lost a confidence vote on Dec. 16, triggering an early election likely in February. Canada will also vote in 2025, with the governing Liberals widely unpopular and increasingly divided after almost a decade in power. Seema Shah, head of democracy assessment at the Stockholm-based International Institute for Democracy and Electoral Assistance, said global surveys suggest support for the concept of democracy remains strong, but the numbers plummet “when you ask people how satisfied they are with their own democracy.” “People want democracy. They like the theory of it," she said. “But when they see it actually play out, it’s not living up to their expectations.” Sheikh Saaliq in New Delhi, Mari Yamaguchi in Tokyo and Gerald Imray in Cape Town, South Africa, contributed to this story.
Several of Trump's Cabinet picks — and Trump himself — have been accused of sexual misconduct
India’s Data Centre Investments To Exceed $100 Billion by 2027: CBREMillions of homes to get grants and cheap loans for solar panelsThe Atlanta Falcons drafting of Michael Penix Jr. just six weeks after signing Kirk Cousins to a $180 million contract doesn’t seem like that much of a head-scratcher anymore. Penix, the eighth overall pick in this year’s draft, was supposed to serve as Cousins’ understudy for a year or two, a plan that was scuttled when Cousins quickly lost the zip and accuracy on his passes and his grip on the starting job. It was hard to argue with making the change after Cousins had nine picks and one touchdown pass in his last five starts — but it was a daring move nonetheless with the Falcons trailing first-place Tampa Bay by a single game with three weeks left. Penix made the move pay off with a solid first NFL start in the Falcons’ 34-7 rout of the New York Giants on Sunday that bolstered Atlanta’s playoff hopes , and the Falcons (8-7) moved back into first place in the NFC South with the Buccaneers’ loss at Dallas on Sunday night. The left-hander was not at all overwhelmed by the moment, completing 18 of 27 passes for 202 yards — numbers that would’ve been better if not for at least three dropped passes, one of which Kyle Pitts bobbled right into the hands of a New York defender for Penix’s lone interception. “He went out and played almost flawless football,” coach Raheem Morris said. Cousins will almost certainly be looking for his fourth team in 2025. If the Falcons cut ties as expected, they’ll have paid Cousins $90 million for 14 games. Cousins’ career earnings are about $321 million and his record is 84-77-2, including a 1-3 mark in the playoffs and 7-7 this season. In the spirit of expedited judgments, let’s take a gander at how other quarterbacks have fared with their new teams in 2024. Russell Wilson The Pittsburgh Steelers landed the biggest bargain of the season in Wilson, whom they signed for the veteran’s minimum of $1.21 million, leaving his former team, the Denver Broncos, on the hook for the remaining $37.79 million of his 2024 salary. Wilson’s calf injury in camp forced the Steelers to start Justin Fields, who went 4-2 before Mike Tomlin made the risky switch to Wilson, who’s gone 6-3 with 15 TD throws and four interceptions. With the Steelers (10-5) playoff-bound, Wilson will make his first postseason appearance since 2020. The only question is whether it’ll be at home as AFC North champ or on the road as a wild-card. They’re tied with the Ravens atop the division but currently own the tiebreaker. Sam Darnold This was expected to be a rebuilding year in Minnesota after the Vikings lost Cousins in free agency. They signed Darnold, the third overall pick in 2018, to a $10 million, one-year contract and drafted national champion J.J. McCarthy with the 10th overall pick. McCarthy tore the meniscus in his right knee during the preseason opener and has undergone two surgeries, opening the way for Darnold’s breakthrough season. Darnold brought a 21-35 career record with him to Minneapolis and all he’s done is go 13-2 while setting career highs with 32 touchdown passes, 3,776 passing yards and a 67.2% completion percentage. The Vikings are tied with the Lions atop the packed NFC North and the division crown could come down to Minnesota’s season finale at Detroit on Jan. 5. Gardner Minshew The Las Vegas Raiders signed Minshew to a two-year, $25 million contract and he beat out incumbent Aidan O’Connell for the starting gig. But he only went 2-7 and sustained a season-ending broken collarbone in a Week 12 loss to the Broncos, opening the door for O’Connell (1-4) to return. The Raiders’ 19-14 win over Jacksonville on Sunday snapped a 10-game skid but might have taken them out of the Shedeur Sanders sweepstakes. They are 3-12, a game behind the Giants (2-13), who jettisoned QB Daniel Jones less than two years after signing him to a four-year, $160 million contract and have gone with Drew Lock and Tommy DeVito instead. Caleb Williams The Chicago Bears had high hopes after drafting Williams with the No. 1 overall pick, but it might turn out that the second QB taken — Washington’s Jayden Daniels — is better than the first as was the case last year when C.J. Stroud outperformed Carolina’s Bryce Young. Williams has a terrific TD-to-INT ratio of 19-5, but the Bears are 4-11 and have lost nine in a row. Their last win came way back on Oct. 13 against Jacksonville. Jayden Daniels The 2023 Heisman Trophy winner out of LSU has led the Washington Commanders (10-5) to the cusp of their first playoff appearance since 2020. His bolstered his Rookie of the Year credentials with a five-TD performance Sunday in leading the Commanders to a 36-33 win over the Philadelphia Eagles. For the year, Daniels has 22 TD throws and eight interceptions. Bo Nix The former Auburn and Oregon star hasn’t looked much like a rookie after starting an NCAA QB record 61 times in college. The Broncos (9-6) could snap an eight-year playoff drought with a win Sunday at Cincinnati thanks to Nix’s steady play , Sean Payton’s exhaustive guidance and Denver’s traditionally stingy defense. Nix was drafted 12th overall after the Broncos released Wilson despite a a whopping $85 million dead money charge on top of the $37.79 million they’re paying Wilson to play for Pittsburgh this year. With 22 TDs and 11 interceptions, Nix has almost matched Russell’s win total (11-19) in his two seasons in Denver. ___ AP Sports Writer Paul Newberry in Atlanta contributed to this report. ___ Behind the Call analyzes the biggest topics in the NFL during the season. ___ AP NFL: https://apnews.com/hub/nfl
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Shiba Inu’s SHIB/USD mysterious lead, Shytoshi Kusama , announced a new podcast series on Sunday to deep dive into key ecosystem-related technology and developments What Happened : Kusama took to X to reveal what one could expect in the podcast that begins from Monday. He stated that the series would consist of 44 episodes, where they would discuss the technology developed by Shiba Inu and how it relates to TREAT , the ecosystem’s hotly anticipated token. The podcast will follow a weekly schedule with different themes for each day. Mondays will focus on memes, Tuesdays on TREAT token, Thursdays will be tech talks, Fridays for shoutouts and follows, Saturdays will delve into spirituality, and Sundays will be reserved for tournaments. My podcast will consist of 44 episodes of yours truly talking from the heart and explaining something very important...all the tech we've built (some of which you've seen), how it all ties to #Treat , and how everything fits together (ideally) to save the world. Ready? I am... Time to stop being Shy... pic.twitter.com/F3vVoofxxv See Also: 2024 Crypto Rally Ends With A Whimper As Trading Volume Falls 64%, Michael Saylor Says ‘Take A Break’ Why It Matters : The real identity of Kusama has been a subject of significant interest within the cryptocurrency circle. In July, Kusama made their first public appearance in Japan but disguised their true self with a Batman-styled mask. The podcast announcement comes at a time when the Shiba Inu ecosystem was making significant strides as a blockchain project. Shiba Inu’s virtual world, ‘Shib The Metaverse’, went live on Christmas , offering an immersive experience for users. The platform, built on Shiba Inu’s Layer-2 blockchain, Shibarium , merges the real and virtual worlds, enabling people to interact through digital avatars. Price Action : At the time of writing, SHIB was exchanging hands at $0.0000216, down 2.09% in the last 24 hours, according to data from Benzinga Pro . Read Next: Crypto Analyst Foresees Dogecoin Price Rebound As Whales Increase Holdings Disclaimer: This content was partially produced with the help of Benzinga Neuro and was reviewed and published by Benzinga editors. © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
By Twink Jones Gadama In a nation where the democratic process is held in high regard, the recent actions of the Malawi Electoral Commission (MEC) have sparked widespread outrage and concern among citizens. Anabel Mtalimanja, the chairperson of the MEC, finds herself at the center of a brewing storm as calls for accountability grow louder. The impending civil strife, fueled by allegations of technological manipulation and disenfranchisement, has raised questions about the integrity of the electoral process in Malawi. The controversy began with the introduction of the Smartmatic machine, a technological device that has been met with skepticism by many Malawians. Critics argue that the machine is capable of manipulating figures, casting doubt on the transparency of the electoral process. Despite these concerns, Mtalimanja has remained steadfast in her support for the Smartmatic system, dismissing calls from citizens and civil society organizations to abandon its use. This stubbornness has not only alienated a significant portion of the electorate but has also raised fears of potential unrest as the country approaches the next election. The third phase of voter registration, which recently concluded, has been particularly contentious. Reports have emerged that millions of eligible voters were denied their right to register due to the Smartmatic machine’s programming. According to numerous accounts, the machine was set to close at 4 p.m., leaving many individuals unable to complete their registration before the deadline. This has led to accusations that the MEC is deliberately disenfranchising voters, particularly those from the southern and northern parts of malawi, areas dominated by the opposition. As the clock ticked down to the registration deadline, long lines formed outside registration centers across the country. Many citizens, eager to exercise their democratic right, arrived only to find that the Smartmatic machine had already shut down for the day. Frustration and anger boiled over as individuals who had waited for hours were turned away, their hopes of participating in the upcoming election dashed. The situation was exacerbated by reports of technical malfunctions and inadequate staffing at registration centers, further complicating the process for those seeking to register. In the wake of these events, civil society organizations have mobilized to demand accountability from the MEC. Protests have erupted in various cities, with demonstrators calling for Mtalimanja to resign and for the immediate suspension of the Smartmatic system. The message is clear: Malawians are unwilling to accept a compromised electoral process that undermines their fundamental rights. The stakes are high, as the upcoming election is seen as a critical moment for the country’s democracy, and any perceived manipulation of the process could have dire consequences. The situation has drawn the attention of international observers, who are closely monitoring developments in Malawi. Concerns have been raised about the potential for civil unrest if the MEC does not address the grievances of the electorate. The United Nations and various human rights organizations have issued statements urging the MEC to ensure a fair and transparent electoral process, warning that failure to do so could lead to instability in the region. Mtalimanja’s refusal to heed the calls of the people has led to a growing sense of disillusionment among voters. Many feel that their voices are not being heard, and that the MEC is more concerned with maintaining the status quo than with ensuring a fair electoral process. This sentiment has been echoed by political leaders from various parties, who have called for an independent investigation into the use of the Smartmatic machine and its impact on voter registration. As tensions rise, the potential for civil strife looms large. The memories of past electoral violence are still fresh in the minds of many Malawians, and the prospect of a repeat of such events is a source of deep concern. The government has a responsibility to ensure that the electoral process is free from manipulation and that all citizens have the opportunity to participate in shaping their future. Failure to do so could have catastrophic consequences for the nation. In the face of mounting pressure, Mtalimanja has remained defiant, insisting that the Smartmatic machine is a necessary tool for modernizing the electoral process. However, her insistence on using a system that has been widely criticized raises questions about her commitment to upholding the democratic principles that underpin the nation. The electorate is demanding transparency and accountability, and the longer the MEC delays in addressing these concerns, the more likely it is that civil unrest will erupt. As the country prepares for the upcoming election, the stakes could not be higher. The integrity of the electoral process is paramount, and the actions of the MEC will have lasting implications for the future of democracy in Malawi. Anabel Mtalimanja’s accountability for the impending civil strife is not just a matter of political responsibility; it is a reflection of the broader struggle for justice and equality in a nation that has long grappled with issues of governance and representation. In the coming weeks, the pressure on the MEC will only intensify. Citizens are demanding answers, and the call for accountability will not be silenced. The future of Malawi’s democracy hangs in the balance, and the actions taken by the MEC in the face of this crisis will determine whether the nation can move forward or whether it will be plunged into chaos. As the clock ticks down to the election, the eyes of the world are watching, and the time for decisive action is now. The people of Malawi deserve a fair and transparent electoral process, and it is the responsibility of the MEC to ensure that their rights are upheld. The consequences of failure are too great to ignore, and the call for accountability will not be easily dismissed. Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. Learn how your comment data is processed .Sonic 3 Understands the Importance of Voice Acting, and It Shows
By Lauren Beavis An adorable little donkey named Wonder has received a new prosthetic leg to help her stand and walk - just in time for Christmas. Wonder was born with two deformed hooves leaving her unable to stand or walk. But since being fitted with a specialist prosthesis, the young mule is now able to walk "better than ever before". At a young age, she was admitted to Donkey Sanctuary Bonaire in the Netherlands - a center for neglected, abused, confiscated, sick or old donkeys . Wonder the donkey with its new leg. ( When veterinarians at the Faculty of Veterinary Medicine at Ghent University heard about Wonder's condition, they got in touch with Wesley Michiels from Pet Orthopedics - a company that makes prostheses and braces for animals. Wesley Michiels, head of Pet Orthopedics , said: "The vets contacted us and explained that they wanted to amputate the leg - asking us how they could best go about it to ensure that the donkey would be able to walk again with a view to a prosthesis. "We were on site for about three weeks to carry out the measurements on Wonder." As the vets amputated her little hooves - the orthopedics were able to fit a prosthetic leg that grows as Wonder does. (Pet Orthopedics via SWNS) Wesley said: "The cooperation results in a perfect amputation stump so that the prosthetic device also fits perfectly. "Wonder is still a little donkey who still has to grow in the future, so the prosthesis is adaptive so we can adjust it when she grows. "In the beginning, she has to learn how to use the leg more - but with the prosthetic device she is now already walking better than before." (Pet Orthopedics via SWNS) Wesley says he has worked with donkeys before - but a full prosthesis for the species was a new task for him. He added the new technology has helped many species - from alpacas to dogs and now donkeys . Wesley said: "In the past, the legs of animals were completely amputated up to the shoulder or up to the hip for a problem with toes for example - then sometimes you couldn't do anything with one leg. "But now many vets first call us to ask for advice about the amputation, so that we can put a prosthesis afterwards."The Central Committee on Counter-Terrorism Meeting 2024 was held at 1 pm yesterday at the Areindama Hall, Myanmar Police Force Headquarters in Nay Pyi Taw. Attendees included State Administration Council Member and Chairman of the Central Counter-Terrorism Committee, Union Minister for Home Affairs Lt-Gen Yar Pyae, as well as vice-chairpersons, members of the Central Committee, chairpersons and secretaries of the Working Committees and Working Groups, the Chief of the Myanmar Police Force, senior police officers, and commanders from Nay Pyi Taw, Region, and State Police Forces. During the meeting, Lt-Gen Yar Pyae discussed the impact of terrorism on politics, society, economy, and geopolitics, the evolving tactics of terrorist groups with advancing technology, UN Security Council resolutions on drones, the utility of AI technology in counter-terrorism, and the connections between terrorism, drugs, money laundering, and arms smuggling. He also emphasized the importance of international cooperation and the formulation of a national counter-terrorism strategy. Vice-Chairman of the Central Counter-Terrorism Committee, Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein, and Union Minister for Border Affairs Lt-Gen Tun Tun Naung also contributed to the discussion. Following this, the Secretary of the Central Counter-Terrorism Group, Myanmar Police Force, Chief Police Lt-Gen Win Zaw Moe reported on the group’s activities. This included operations against terrorist groups, the seizure of weapons and ammunition, compliance with Counter-Terrorism Law and Regulations, international information sharing, and the use of funds for anti-terrorism efforts and rewards for legal compliance. Police Brig-Gen Kyaw Zeya, Head of the Transnational Crime Department of the Myanmar Police Force Headquarters, provided updates on measures to control the assets and funds of terrorists, prohibit financial services to these entities, revise working groups as per law and regulations, and draft and implement the National Counter-Terrorism Strategy. Committee members, working committee chairmen, working group heads, secretaries, and members then presented their explanations and suggestions. Finally, Lt-Gen Yar Pyae instructed relevant committees and groups to implement the recorded and approved points in line with procedures, continue studying the links between violence, drugs, money laundering, and arms smuggling, enhance international cooperation, raise international awareness of the true nature of the violence, and systematically use the Counter-Terrorism, Extremism, and Terrorism Prevention and Combatting Fund. — MNA/TS
California has enough problems without making people endure political stunts. That’s just what the California Air Resource Board did by providing a subsidy up to $2,000 to buy an electric bike, part of the California E-Bike Incentive Project. That’s the average price of a new e-bike, according to REI. The idea is to get people out of gas-guzzling cars and onto bikes to reduce climate change. Costing $3 million for just 1,500 grants, the application deadline was Dec. 18, but the website announced soon there will be new application windows. Applicants must apply online, be a California resident 18 or older and earn a household income less than the 300% of the federal poverty level, currently $93,600 for a family of four. According to the website of the program, “Applicants who either live in a disadvantaged community or low-income community” or who “have an income at or below 225% of” the federal poverty line will be prioritized for the subsidy. CARB is very proud of itself for this program. “By using e-bikes, people can get around and meet everyday needs while improving air quality,” said Steven Cliff, CARB’s executive officer, in a press release. “Prioritizing equity and access is key as we work to achieve our zero-emissions goals, and this incentive program will support those efforts by helping e-bikes be part of the solution.” For all the buzzwords, though, it’s obvious there isn’t really much to this program. The gimmick will bring “imperceptible impact on environmental outcomes,” Mark Scribner told us; he’s the senior transportation policy analyst at the Los Angeles-based Reason Foundation. “This is political posturing. It confers private benefits on recipients, but will fail a social cost-benefit test.” That’s right. Statista Market Insights estimates 1.6 million e-bikes were sold nationally in 2024. There’s no breakout, but equivalent sales in California could be 192,000. The 1,500 e-bike grants, if all are for purchases above that amount, would goose sales just 0.78%. Another issue is safety. A July study by UCSF found, “Electric Scooter and Bike Accidents Are Soaring Across the U.S.” From 2017-22, e-bike injuries doubled each year, while e-scooter injuries rose 45%. Co-lead author Adrian Fernandez, MD, chief resident with the UCSF Department of Urology, called the findings “an urgent need for added safety measures.” Last July, Gov. Gavin Newsom signed Assembly Bill 1774, which banned devices to make the e-bikes go faster than the 28 mph limit currently allowed by law. But the devices could be brought in from other states. Another problem is kids riding e-bikes irresponsibly. Although underage for the grants, kids obviously will be driving many of the subsidized e-bikes. We’ll examine the new safety bills as they come. But CARB should put the brakes on subsidizing expensive e-bikes that won’t do anything for the climate but might help put a few more people in the hospital. If government officials want to spend their own money helping people buy e-bikes, fine. But government shouldn’t be wasting time and money with efforts like this.The holiday season isn't prime time for the housing market. Fewer people buy and sell homes in the winter months, leading to a decline in home loan applications. Furthermore, mortgage rates have reached their highest levels in weeks. Following the Federal Reserve's third interest rate cut at its December policy meeting, the average 30-year fixed rate jumped back up to its November high of around 7%. Though the Fed influences the direction of overall borrowing rates, it doesn't directly control the mortgage market . Mortgage rates are driven by investor expectations and move with the yield on the 10-year Treasury, with numerous factors affecting the bond market. For mortgage rates to reverse their upward trend, bond market investors would have to be convinced that the economy is cooling. Until there's proof that inflation is easing and the job market is softening, mortgage rates will stay elevated in the near term. The Fed is projecting a slower pace of rate cuts over the course of 2025 , which will likely keep average rates somewhat volatile, fluctuating between 5.75% on the low end and 7.25% on the high end, according to HousingWire's 2025 forecast . Read more : 2025 Mortgage Rate Forecast Why are mortgage rates higher after the Fed's rate cut? The recent surge in longer-term Treasury yields and home loan rates was due in large part to the Fed's newly updated Summary of Economic Projections , outlining expectations for just two 0.25% interest rate cuts in 2025, down from four previously. To maintain maximum employment and contain inflation, the Fed assesses economic data to determine whether to raise or lower its benchmark short-term interest rate. Investors care about the Fed's future outlook for rate adjustments because it determines their trading strategy and risk assessment. This month, markets heavily weighed Fed Chair Jerome Powell's concerns about inflation reigniting and President-elect Donald Trump's tax and tariff proposals . Powell conveyed a more conservative tone about future policy changes: "When the path is uncertain, you go a little bit slower." Taking cues from "a more hawkish Fed," prices in the bond and stock market quickly plunged, according to Matt Graham of Mortgage News Daily. Hawkish monetary policy tends to be more restrictive, relying on higher interest rates to keep inflation in check. Though the Fed pivoted to cutting interest rates back in September, it's wary of easing them too quickly only to see progress on inflation stall or reverse course entirely. Experts say the Fed is likely to hold off on additional reductions until March or even later. Where are mortgage rates going in 2025? Although experts optimistically predicted rates would fall close to 6% by the end of 2024, projections have changed significantly. Fannie Mae now expects average 30-year fixed mortgage rates to hold above 6.5% until early 2025. "If the Fed does end up only cutting twice next year, it's possible mortgage rates will stay pretty similar to where they are now," said Chen Zhao , head of economic research at Redfin. Aside from the normal day-to-day volatility, mortgage rates will stay above 6% for a while. That may seem high compared with the recent 2% rates of the pandemic era. But experts say getting below 3% on a 30-year fixed mortgage is unlikely without a severe economic downturn. Since the 1970s, the average rate for a 30-year fixed mortgage has been around 7%. Given a new administration, changes in the geopolitical outlook and a risk of inflation rebounding, forecasts could change again over the coming months. Future rate movement depends on an array of factors, including: Trump's economic policies: Trump's proposals for tax cuts and tariffs are a big wild card for mortgage rates. Experts say such moves could stimulate demand, increase deficits and push inflation back up. That could prompt the Fed to delay future rate reductions, which in turn would keep home loan rates high. 10-year Treasury yields: Average 30-year fixed mortgage rates closely track bond yields, specifically 10-year Treasury yields. If inflation and labor data continues to be strong, bond yields and mortgage rates will go up. The opposite will happen if unemployment rises or inflation cools and the Fed continues cutting rates. Geopolitical situations: Mortgage rates are also impacted by geopolitical events, including military conflicts and elections. Political instability can lead to economic uncertainty, which can result in more volatility with bond yields and mortgage rates. Potential curveballs: Bond investors often act in anticipation of what they believe will happen in the economy. For example, if the expectation is for unemployment to increase, bond yields and mortgage rates will fall. But if the outcome doesn't match market expectations, yields can quickly swing higher or lower. Other unknowns: Though Trump's policies have led to expectations of higher inflation and budget deficits, there's still a lot of uncertainty surrounding the timing and substance of economic changes. Campaign promises rarely mirror the policies that end up being implemented, and it's impossible for investors to predict how big the gap between the two will be. What else is happening in the housing market? Today's unaffordable housing market results from high mortgage rates, a long-standing housing shortage , expensive home prices and a loss of purchasing power due to inflation. 🏠 Low housing inventory : A balanced housing market typically has five to six months of supply. Most markets today average around half that amount. Although we saw a surge in new construction in 2022, according to Zillow , we still have a shortage of around 4.5 million homes. 🏠 Elevated mortgage rates : At the start of 2022, mortgage rates were near historic lows of around 3%. As inflation surged and the Fed began hiking interest rates to tame it, mortgage rates roughly doubled within a year. In 2024, mortgage rates are still high, effectively pricing millions of prospective buyers out of the housing market. That's caused home sales to slow , even during typically busy home-buying months, like the spring and early summer. 🏠 Rate-lock effect : Since the majority of homeowners are locked into mortgage rates below 6%, with some as low as 2% and 3%, they're reluctant to sell their current homes since it would mean buying a new home with a significantly higher mortgage rate. Until mortgage rates fall below 6%, homeowners have little incentive to list their homes for sale, leaving a dearth of resale inventory. 🏠 High home prices : Although home buying demand has been limited in recent years, home prices remain high because of a lack of inventory. The median US home price was $434,568 in September, up 5.1% on an annual basis, according to Redfin. 🏠 Steep inflation : Inflation increases the cost of basic goods and services, reducing our purchasing power. It also impacts mortgage rates: When inflation is high, lenders typically set interest rates on consumer loans to compensate for the loss of purchasing power and ensure a profit. Should you wait or buy now? It's never a good idea to rush into buying a home without knowing what you can afford, so establish a clear homebuying budget. Here's what experts recommend before purchasing a home: 💰 Build your credit score . Your credit score is one of the main factors lenders consider when determining whether you qualify for a mortgage and at what interest rate. Working toward a credit score of 740 or higher will help you qualify for a lower rate. 💰 Save for a bigger down payment . A larger down payment will allow you to take out a smaller mortgage and get a lower interest rate from your lender. If you can afford it, making a down payment of at least 20% will also eliminate the need for private mortgage insurance. 💰 Shop around for mortgage lenders . Comparing loan offers from multiple mortgage lenders can help you negotiate a better rate . Experts recommend you get at least two to three loan estimates from different lenders before making a decision. 💰 Consider the rent vs. buy equation . Choosing to rent or buy a home isn't just comparing monthly rent to a mortgage payment. Renting offers flexibility and lower upfront costs, but buying allows you to build wealth and have more control over your housing costs. The best choice depends on your finances, lifestyle and how long you plan to stay in one place. 💰 Consider mortgage points . One way to get a lower mortgage rate is to buy it down using mortgage points . One mortgage point equals a 0.25% decrease in your mortgage rate. Generally, each point will cost 1% of the total loan amount. More on today's housing market
Geek Bar’S Double Victory At Vaping360’S 2024 Annual AwardsDUBAI (Reuters) – Iranian authorities have lifted a ban on Meta’s instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday. The Islamic Republic has some of the strictest controls on Internet access in the world, but its blocks on U.S.-based social media such as Facebook, Twitter and YouTube are routinely bypassed by tech-savvy Iranians using virtual private networks. “A positive majority vote has been reached to lift limitations on access to some popular foreign platforms such as WhatsApp and Google Play”, Iran’s official IRNA news agency said on Tuesday, referring to a meeting on the matter headed by President Masoud Pezeshkian. “Today the first step in removing internet limitations... has been taken,” IRNA cited Iran’s Minister of Information and Communications Technology Sattar Hashemi as saying. Social media platforms were widely used in anti-government protests in Iran. In September the United States called on Big Tech to help evade online censorship in countries that heavily sensor the internet, including Iran. (Reporting by Elwely Elwelly; Editing by Christina Fincher) Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content. var ytflag = 0;var myListener = function() {document.removeEventListener('mousemove', myListener, false);lazyloadmyframes();};document.addEventListener('mousemove', myListener, false);window.addEventListener('scroll', function() {if (ytflag == 0) {lazyloadmyframes();ytflag = 1;}});function lazyloadmyframes() {var ytv = document.getElementsByClassName("klazyiframe");for (var i = 0; i < ytv.length; i++) {ytv[i].src = ytv[i].getAttribute('data-src');}} Save my name, email, and website in this browser for the next time I comment. Δ document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() );