Tag: Financial Markets

Poll: Many pessimistic about improving standard of living

[ad_1]

NEW YORK — More than half of Americans believe it’s unlikely younger people today will have better lives than their parents, according to a new poll from the University of Chicago Harris School of Public Policy and The Associated Press-NORC Center for Public Affairs Research.

Most of those polled said that raising a family and owning a home are important to them, but more than half said these goals are harder to achieve compared with their parents’ generation. That was particularly true for younger people — about seven in 10 Americans under 30 think homeownership has become harder to achieve.

About half of those polled also said it’s hard for them to improve their own standards of living, with many citing both economic conditions and structural factors.

Josean Cano, 39, a bus operator in Chicago who is Hispanic, said he’s had a harder time economically than his parents. He mentioned inflation, high housing costs, and the recent baby formula shortage as examples.

“Things have doubled and tripled in price, ” he said. “We’re not talking about gym shoes or concert tickets. We’re talking about essentials. Six months ago, you couldn’t find PediaSure. And if you could find it, it would be $20. It used to be $11 at Target.”

Cano also pointed to the fact that the real purchasing power of the minimum wage was higher for previous generations and that rents and the cost of education were more reasonable.

According to the Economic Policy Institute, the federal minimum wage in 2021 was worth 34% less than in 1968, when its purchasing power peaked.

“Many people perceive their options are less than what they had in the past,” said University of Chicago professor Steven Durlauf, who studies inequality and helped construct the study. “A lot of sense of well-being has to do with relative status, not absolute status.”

The study also showed marked partisan disagreements over whether structural factors contribute to social mobility.

Democrats were more likely than Republicans to say that factors such as parents’ wealth, the community one lives in, college education, race and ethnicity, and gender greatly affect one’s social mobility. Black and Hispanic adults were also more likely than white adults to say a college education, race and ethnicity, and gender are very important factors.

Acacia Barraza, 35, who lives in Las Lunas, New Mexico and works as an employee services coordinator, said she was more optimistic about social mobility for Hispanic Americans before the election of former President Donald Trump. Barraza is Hispanic and Native American.

“Before, I would have thought we had made progress,” she said. “That we’d be able to have more and be more. But we’re battling the same battles our parents did. Trump brought it back to the forefront.”

Barraza said that student debt, which she and her husband both have, has made raising a family and working towards buying a house more difficult.

According to Department of Education data, average student loan debt has increased for all generations, reaching record highs. Of adults under 30 who have a bachelor’s degree or higher, 49% have student loan debt. Federal borrowers 24 and younger owe an average of $14,434, those aged 25 to 34 owe an average debt of $33,570, and those aged 35 to 49 owe an average federal debt of $43,208.

Mark Claffey, 52, who is disabled, white, and lives in Logan, Ohio, said that “everything costs more” now than it did for his parents’ generation.

“Back then you could make something on a limited budget,” he said. “You could do more with less. Bread cost less than a dollar.”

Now, Claffey says he and his wife find themselves squeezed at the end of the month on their fixed income budgets. He also thinks the country is more divided and polarized along partisan lines than in previous eras.

Compared with younger people, Americans aged 60 or older are more likely to believe it’s easier for them to achieve a good standard of living compared with their parents, the poll found.

Only 35% of adults over 60 said it is “much or somewhat harder” to achieve a good standard of living, compared with 54% of adults aged 18-29.

The poll also found that Black Americans have a more positive outlook on upward mobility for future generations than white Americans.

Poll respondent Glen McDaniel, 70, who is Black and works as a medical laboratory scientist in Atlanta, said he has “a certain amount of optimism” about the prospect of future generations having a better standard of living because he “knows for a fact it’s possible, not something you read in a book.”

“I’ve seen a lot of history through these eyes,” he said. “There were times when even someone looking like me going to college didn’t seem possible. We would have to think, going on vacation — would people who look like us be safe, or would we be harassed? It’s incredible to think that was during my lifetime.”

McDaniel said his mother started college, but dropped out, and that he went to the University of Toronto. He said seeing technological advances also contributes to his feeling that future generations may make gains.

McDaniel added that his optimism is “a little constrained by the political climate right now.”

“There’s still a climate of people coming out from under rocks motivated by their worst fears,” he said. “It’s not as blatant as when I was a kid. But it’s still part of the American ethos.”

———

The poll of 1,014 adults was conducted Aug. 25-29 using a sample drawn from NORC’s probability-based AmeriSpeak Panel, which is designed to be representative of the U.S. population. The margin of sampling error for all respondents is plus or minus 4.3 percentage points.

———

Follow AP’s coverage of financial wellness at https://apnews.com/hub/financial-wellness

———

The Associated Press receives support from Charles Schwab Foundation for educational and explanatory reporting to improve financial literacy. The independent foundation is separate from Charles Schwab and Co. Inc. The AP is solely responsible for its journalism.

[ad_2]

Source link

October 4, 2022
UK’s Truss vows to listen as she reels from policy U-turns

[ad_1]

BIRMINGHAM, England — British Prime Minister Liz Truss has insisted she is leading “a listening government” that learns from its mistakes, as she tries to restore her shaky authority and reassure financial markets spooked by her government’s see-sawing economic pledges.

Truss told the BBC in an interview broadcast Tuesday that she and her ministers were determined to “reflect on how we could have done things better.”

“Is everything the government (has) done absolutely perfect? No it’s not,” she said. “I fully acknowledge that. And we have learned from the feedback we’ve received.”

That “feedback” has been dramatic: Truss’ four weeks in office have seen the pound plunge to record lows against the dollar, the Bank of England take emergency action and the opposition Labour Party surge to record highs against her Conservatives in opinion polls.

Now Truss also faces a battle with her party over her economic plans, with some lawmakers warning they will oppose any attempt to slash welfare benefits to help pay for lower taxes.

Truss is on a mission to reshape Britain’s economy through tax cuts and deregulation in a bid to end years of sluggish growth. But she is trying to ride out a series of U-turns over her first big policy: a stimulus package that includes 45 billion pounds ($50 billion) in tax cuts, to be paid for by government borrowing. Its announcement on Sept 23 sent the pound tumbling to a record low against the dollar and increased the cost of government borrowing.

The Bank of England was forced to intervene to prop up the bond market and stop a wider economic crisis. Fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.

Under political and financial pressure, the government on Monday scrapped the most unpopular part of its budget package, a tax cut on earnings above 150,000 pounds ($167,000) a year.

Treasury chief Kwasi Kwarteng has also promised to publish a fully costed fiscal plan, alongside an economic forecast from the independent Office for Budget Responsibility. Initially that was due to come Nov. 23, but mounting pressure means it’s likely to arrive weeks sooner.

What Kwarteng on Monday called the “hullabaloo” over the government’s plans has cast a shadow over the Conservatives’ annual conference in the central England city of Birmingham, where many delegates express fears that the party, in power since 2010, is headed for defeat in the next election.

The party has a commanding majority in Parliament but is fractious after three years of scandal under former Prime Minister Boris Johnson, followed by a divisive leadership contest between Truss and former Treasury chief Rishi Sunak. Sunak warned during his losing campaign that Truss’ plan to fund tax cuts through borrowing would undermine both the government’s economic credibility and the nation’s finances.

Truss says her policies will bring economic growth, higher wages and eventually more tax revenue for the government to spend. But critics say the plans do little to help millions of people who are struggling right now with a cost-of-living crisis fueled by soaring energy prices.

Truss said she was “very committed to supporting the most vulnerable,” pointing to a cap on energy prices that took effect Oct. 1.

However, she refused to promise benefits and state pensions would increase in line with inflation, which has been the practice for years.

“We are going to have to make decisions about how we bring down debt as a proportion of GDP in the medium term,” Truss said. “We have to be fiscally responsible.”

Conservative lawmakers — including government ministers — warned Truss that they would oppose a real-terms cut in welfare benefits.

“I have always supported, whether it’s pensions, whether it’s our welfare system, keeping pace with inflation. It makes sense to do so,” said Penny Mordaunt, the leader of the House of Commons.

“That’s what I voted for before and so have a lot of my colleagues,” Mordaunt told Times Radio.

[ad_2]

Source link

October 4, 2022
UK scraps tax cut for wealthy that sparked market turmoil

[ad_1]

BIRMINGHAM, England (AP) — The U.K. government on Monday dropped plans to cut income tax for top earners, part of a package of unfunded cuts unveiled only days ago that sparked turmoil on financial markets and sent the pound to record lows.

In a dramatic about-face, Treasury chief Kwasi Kwarteng abandoned plans to scrap the top 45% rate of income tax paid on earnings above 150,000 pounds ($167,000) a year, a policy that had drawn near-universal opposition. The pound rose after the government U-turn, trading at $1.13 — just over the value it held before the government’s calamitous budget announcement on Sept. 23.

But Kwarteng said the government would push ahead with the rest of its tax-cutting stimulus package — though further changes of plan may be looming. The Financial Times reported that the government would bring forward a planned full fiscal statement from Nov. 23 to later this month.

Kwarteng and Prime Minister Liz Truss have spent the last 10 days defending the plan in the face of market mayhem and increasing alarm among the governing Conservative Party.

In a speech to the party’s annual conference, Kwarteng acknowledged the plan had “caused a little turbulence.”

“I get it. We are listening and have listened, and now I want to focus on delivering the major parts of our growth package,” he said, trying to draw a line under 10 days of turmoil.

“We need to move forward. No more distractions. We have a plan and we need to get on and deliver it.”

The turnaround came after a growing number of Conservative lawmakers, including former ministers with broad influence, turned on the government’s tax plans.

“I can’t support the 45p tax removal when nurses are struggling to pay their bills,” Tory lawmaker Maria Caulfield said.

The backlash has cast a shadow over the Conservative conference in the central England city of Birmingham, where many delegates express fears that the party, in power since 2010, is headed for defeat in the next election. It’s not due until 2024, but the opposition Labour Party has taken a substantial lead in opinion polls.

Truss defended the economic plan on Sunday but said she could have “done a better job laying the ground” for the announcements.

She also said the decision to abolish the top tax rate had been taken by Kwarteng alone. On Monday, Truss’ spokesman said the prime minister still had confidence in her embattled Treasury chief.

Truss took office less than a month ago, promising to radically reshape Britain’s economy to end years of sluggish growth. But the government’s announcement of a stimulus package that includes 45 billion pounds ($50 billion) in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.

The Bank of England was forced to intervene to prop up the bond market, and fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.

The package proved unpopular, even among Conservatives. Reducing taxes for top earners and scrapping a cap on bankers’ bonuses while millions face a cost-of-living crisis driven by soaring energy bills was widely seen as politically toxic.

Truss and Kwarteng insist that their plan will deliver a growing economy and eventually bring in more tax revenue, offsetting the cost of borrowing to fund the current cuts. But they also have signaled that public spending will need to be slashed to keep government debt under control.

Monday’s change of direction lifts some of the political pressure on the government from inside the Conservative Party, but it still faces skepticism from markets and economists and mounting public opposition to the worsening cost-of-living squeeze.

Paul Johnson, director of the Institute for Fiscal Studies think tank, said that unless Kwarteng “also U-turns on some of his other, much larger tax announcements, he will have no option but to consider cuts to public spending: to social security, investment projects or public services.”

Kwarteng has promised to set out a medium-term fiscal plan on Nov. 23, alongside an economic forecast from the independent Office for Budget Responsibility.

Axing the top-earners tax rate would have cost about 2 billion pounds, a small share of the government’s overall tax-cutting plan. Kwarteng said Monday that the government was sticking to its other tax policies, including a cut next year in the basic rate of income tax and a reversal of a corporation tax hike planned by the previous government.

Speaking to a reception at the conference, Kwarteng said the “hullabaloo” over the plans should not overshadow the “strong body of ideas there which are all about growth.”

Tony Danker, who heads business group the Confederation of British Industry, said he hoped the government U-turn would bring stability to the markets.

“None of this growth plan will work unless we have stability. Let’s hope this is the beginning of it,” he told broadcaster LBC.

Opposition parties said the government should scrap its whole economic plan.

“This is an economic crisis made in Downing Street, paid for by working people,” Labour economy spokeswoman Rachel Reeves said. “The Tories have damaged the U.K.’s reputation on the global stage and left us all worse off.”

[ad_2]

Source link

October 3, 2022
UK scraps tax cut for wealthy that sparked market turmoil

[ad_1]

BIRMINGHAM, England — The British government has dropped plans to cut income tax for top earners, part of a package of unfunded cuts that sparked turmoil on financial markets and sent the pound to record lows.

In a dramatic about-face, Treasury chief Kwasi Kwarteng said Monday that he would abandon plans to scrap the top 45% rate of income tax paid on earnings above 150,000 pounds ($167,000) a year.

“We get it, and we have listened,” he said in a statement. He said “it is clear that the abolition of the 45p tax rate has become a distraction from our overriding mission to tackle the challenges facing our country.”

The U-turn came after a growing number of lawmakers from the governing Conservative Party turned on government tax plans announced 10 days ago.

It also came hours after the Conservatives released advance extracts of a speech Kwarteng is due to give later Monday at the party’s annual conference in the central England city of Birmingham. He had been due to say: “We must stay the course. I am confident our plan is the right one.”

Prime Minister Liz Truss defended the measures on Sunday, but said she could have “done a better job laying the ground” for the announcements.

Truss took office less than a month ago, promising to radically reshape Britain’s economy to end years of sluggish growth. But the government’s Sept. 23 announcement of a stimulus package that includes 45 billion pounds ($50 billion) in tax cuts, to be paid for by government borrowing, sent the pound tumbling to a record low against the dollar.

The Bank of England was forced to intervene to prop up the bond market, and fears that the bank will soon hike interest rates caused mortgage lenders to withdraw their cheapest deals, causing turmoil for homebuyers.

The cuts were unpopular, even among Conservatives. Reducing taxes for top earners and scrapping a cap on bankers’ bonuses while millions face a cost-of-living crisis driven by soaring energy bills was widely seen as politically toxic.

Truss and Kwarteng insist that their plan will deliver a growing economy and eventually bring in more tax revenue, offsetting the cost of borrowing to fund the current cuts. But they also have signaled that public spending will need to be slashed.

Kwarteng said the government was sticking to its other tax policies, including a cut next year in the basic rate of income tax and a reversal of a corporation tax hike planned by the previous government.

The pound rose after Kwarteng’s announcement to around $1.12 — about the value it held before the Sept. 23 budget announcements.

[ad_2]

Source link

October 3, 2022
Business sentiments cool as cheap yen, costs weigh on Japan

[ad_1]

TOKYO — Business sentiment among large manufacturers worsened for the third straight quarter, a Bank of Japan survey showed Monday, as the nation grappled with rising costs, the dropping value of the yen and restrictions on economic activity over the coronavirus pandemic.

The headline measure for the “tankan,” measuring sentiment among large manufacturers, was plus 8, down from plus 9 the previous quarter.

The tankan measures corporate sentiment by subtracting the number of companies saying business conditions are negative from those responding they are positive.

Worries are growing about how the Bank of Japan hasn’t gone along with other central banks in tightening interest rates to curb growing inflation. Japan has been trying to fight deflation in recent years and has kept interest rates at near zero.

The nose-diving yen is also a concern, although a cheap yen has in the past been lauded as helping the nation’s big exporters like Toyota Motor Corp., by raising the value of overseas earnings.

The rising costs of imports, including energy as well as food, is hurting Japan, when the U.S. dollar is now trading at nearly 145 yen, when it used to be at 130-yen levels just a few months ago. A year ago, the dollar cost 111 yen.

Sentiment among large nonmanufacturers improved to 14 from 13, according to the latest tankan.

The world’s third-largest economy has struggled for decades to keep growth going. But the stagnation has worsened the last two years because of reduced travel and supply shortages caused by the pandemic.

The war in Ukraine has added to the problems for a resource-poor nation that imports almost all its oil.

The return of individual visa-free travel later this month is certain to work to boost incoming tourists.

The pandemic had squelched overseas tourism, which had sustained economic activity in recent years.

———

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

[ad_2]

Source link

October 2, 2022
Victims of Bernard Madoff’s Ponzi scheme to get another $372m

[ad_1]

Bernie Madoff’s fraud, estimated as high as $64.8bn, went undiscovered for years until he confessed to his sons in December 2008.

Bernard Madoff’s victims will soon receive another $372m to help cover their losses, nearly 14 years after the swindler’s capture for running a massive Ponzi scheme, the United States Department of Justice (DOJ) has said.

The payout from the government’s Madoff Victim Fund will go to 27,219 victims, including more than 400 who had yet to recoup a penny from any source, the DOJ said on Wednesday.

Following the payout, the fund will have distributed about $4.08bn in one or more payments to 40,454 individuals, schools, charities, pension plans and others.

“People getting these cheques are not hedge funds,” Richard Breeden, the former US Securities and Exchange Commission chairman who oversees the government fund, said in an interview. “They’re real people, and it helps families around the world.”

An additional $14.54bn has been recouped for customers of the former Bernard L Madoff Investment Securities LLC by Irving Picard, the trustee liquidating that firm in bankruptcy. That boosts the total payout to about $18.6bn.

Madoff’s fraud, estimated as high as $64.8bn, went undiscovered for many years until he confessed to his sons in December 2008, one day after his firm’s annual Christmas party.

After pleading guilty to 11 criminal counts, Madoff was sentenced to 150 years in prison. He died behind bars at age 82 in April 2021.

Wednesday’s payout is the eighth from the government fund, with victims recouping an average 88.35 percent of their losses.

Another 2,265 victims with valid claims have received nothing from the fund, but many have been made whole by Picard or other sources.

The fund was created in 2013, mainly from settlements between the DOJ and Madoff’s former bank JPMorgan Chase & Co, and between Picard and the estate of former Madoff investor Jeffry Picower.

It originally held $4.05bn, but has grown because the DOJ has recovered additional assets.

Breeden said about $200m remains available, and a ninth payout next year will “almost certainly be the last”.

He also cautioned investors not to let their guard down and chase higher returns, to combat falling stock prices and elevated inflation.

“People start looking for alternatives, and that’s when fraudsters thrive,” he said. “People like Madoff are always happy to throw their lures in the water and offer deals too good to be true.”

[ad_2]

Source link

September 28, 2022
The British pound has taken a tumble. What’s the impact?

[ad_1]

LONDON (AP) — The pound is taking a pounding.

The British currency has taken a plunge, sliding against the U.S. dollar to touch an all-time low. It’s a sign of the alarm in financial markets over new Prime Minister Liz Truss’ emergency budget measures unveiled last week aimed at jump-starting the ailing economy.

Investors are spooked by a sweeping package of tax cuts likely to cost tens of billions of pounds in extra government borrowing and amounts to a risky gamble to stave off a looming recession.

But that’s not all. The currency chaos is playing out against the wider backdrop of the dollar’s rally to a two-decade high.

Here’s a look at what it all means:

EVERYDAY IMPACT

Many Britons are struggling amid soaring inflation driven by rising prices for food and energy, in a cost-of-living crisis that’s been dubbed the worst in a generation.

The pound’s slump threatens to make it even worse. One of the most visible ways is by feeding into the energy crisis because oil and natural gas is priced in dollars. The impact is being felt at the pump.

British drivers are paying 5 pounds ($5.45) more on average to fill up their cars since the beginning of the year as the pound has fallen, according to an analysis by motoring association AA. U.K. gas prices would be at least 9 pence per liter cheaper if the pound was still at its mid-February level of $1.35, compared with the now-outdated $1.14 level that the group used last week for its calculation.

“There’s every chance that a falling pound will make life more expensive,” said Sarah Coles, senior personal finance analyst at financial services firm Hargreaves Lansdown. Anything bought from overseas — components, raw materials, supermarket staples and household basics — will be pricier.

“These rising costs will feed into higher prices, and push inflation even higher,” Coles said. “For anyone whose budget was already stretched to breaking point, this will mean even more pain at the tills.”

Finance minister Kwasi Kwarteng hopes that big tax cuts will spur economic growth and generate wealth, but the sliding pound raises the possibility that will be offset if the central bank steps in with bigger-than-expected interest rate increases.

Some analysts are speculating rates could rise as high as 6% by next spring, a sharp contrast to the near zero level they were at just a few years ago. Rising rates mean many homeowners face bigger monthly mortgage bills, leaving them less to spend on other goods and services.

HOW LOW CAN IT GO?

Fifteen years ago, 1 British pound was able to buy $2. Now, the pound is getting closer to parity with the greenback, a once-unthinkable event and a psychologically important milestone. The pound has tumbled more than 5% since the government outlined its economic plans Friday, dropping as low as $1.0373 early Monday, before bouncing back to above $1.06.

The markets are raising the prospect that the two currencies might soon reach equal footing. A lot of the decline has been driven by the strength of the dollar, which has climbed against a wide range of other currencies as the U.S. Federal Reserve aggressively raises rates, drawing interest from investors fleeing riskier assets.

The euro, for example, has been on a similar trajectory to the pound, having fallen below parity with the dollar recently and then hitting a fresh 20-year low Monday.

The pound has dropped more than most, though, because of local factors. Investors are alarmed at Kwarteng’s “lack of focus on fiscal prudence,” which outweighs any optimism about his pro-growth, anti-red tape agenda, said Victoria Scholar, head of investment at interactive investor.

“On top of being bullish towards the dollar, the international investor community is now also very bearish towards the pound amid fears about the UK’s economic outlook and investment case,” Scholar said.

TUG OF WAR

The plummeting pound highlights what analysts are calling a “tug of war” between Britain’s Treasury and the central bank, which has independence from the government to operate free of political influence.

The Truss government is gambling that slashing taxes and borrowing more to pay for it will kick-start economic growth as a recession looms.

That puts government officials at odds with the Bank of England, where policymakers are trying to rein in inflation that threatens financial stability by raising interest rates, with seven hikes so far this year and more in the pipeline.

The central bank said Monday that it wouldn’t hesitate to raise interest rates by as much as needed at its next meeting in November, which did little to soothe markets. An interim meeting to decide on an emergency rate hike could be needed, “though that would risk escalating tensions with the new government,” said Jeremy Lawson, chief economist at asset manager abrdn.

“There are no good options from here, just less bad ones, with the U.K.’s already struggling household and businesses left to pick up the pieces,” Lawson said.

IS THERE ANY UPSIDE?

British exports will be cheaper for buyers paying in dollars. But the economic impact is likely to be limited, given that the United Kingdom runs a trade deficit with the rest of the world by importing more than it exports.

It’ll be a lot cheaper for foreign visitors, especially Americans. Pub beers, theater tickets for shows in London’s West End, and hotel bills will be more affordable for tourists.

And for investors and wealthy people, the slumping pound makes it cheaper to buy real estate in Britain, especially in exclusive London neighborhoods that have long been favored by the global superrich.

[ad_2]

Source link

September 26, 2022
Astrilis Working Group Calls for International Collaboration to Ensure Prosperity
[ad_1]

Global program makes essential resources available and provides the only feasible solution for Climate Change

Press Release
–

updated: Jan 23, 2019
FOXTON, Colo., January 23, 2019 (Newswire.com)
–
Astrilis Working Group announced today that it was implementing its plan to solve the intensifying problems caused by the rapid growth of human population, in the only humane manner by which they can be feasibly resolved, and has begun informal discussions with international financial institutions regarding possibilities of technical and financial cooperation.

Mr Bob Roth, the Chairman of AWG said, “Our program rapidly returns the vital resources we need to sustain our consumer-based societies, and by creating entirely new markets for the vast majority of the resources we acquire, we maintain the stability of the current market values of the PGMs and other materials on which our financial institutions are based.”

Astrilis provides the solutions for many of the accelerating climate problems reported over the course of the last year, including those most recently identified at the WEF, as Black Swans, Gray Rhinos, and the other financial market difficulties presented as being imminent. As there remains little time to deal with these problems, AWG is calling for global collaboration to encourage the rapid implementation of these solutions.

AWG’s Project Architect, Dwight Prouty stated that “By converting the slag we obtain from refining asteroids, into new territory in the form of habitations and industrial platforms, we create protected environments in which industry can less expensively obtain, process and produce the Concrete, Steel, and Glass that is essential in construction and manufacturing, and outspaces the majority of the CO2, and other greenhouse gas emissions that are causing climate change on Earth. Hazardous chemical and biological production processes can be safely outspaced, and only the final products safely returned for consumption.”

During the press conference AWG’s CEO, Coty Kaliszewski conveyed his concern that “In order to accomplish the Astrilis program efficiently, and equitably, for our species as a whole, the primary challenge that AWG must overcome is our national and industrial tendencies to compete, rather than collaborate,” and said that “AWG’s intent is to ensure the sustainable growth, and development, of every nation. Our forums are designed to provide an internationally common platform, on which technological refinements can be cooperatively developed, and the economic benefits equitably distributed to our entire species.”

For more information, visit ASTRILIS•ORG
- Press Contact: Dwight Prouty
- dwight.prouty@astrilis.org
- 303 838 7722
Source: Astrilis Working Group
[ad_2]

Source link
January 23, 2019