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Real World Economics: Dollar is an ugly nag yet still prettier than the rest

Published Sun, 16 Feb 2025 16:30:54 GMT

Edward LottermanThere is much news of countries moving to use currencies other than the U.S. dollar for international trade and investment. In March, Brazil and China agreed to use their real and renminbi currencies for settling import and export bills rather than U.S. dollars. This comes in the wake of China supplanting the United States as Brazil’s largest trading partner, a status that we took away from Britain more than a century ago.Should we worry?The issue is the degree to which the U.S. dollar is the “reserve currency” for all other countries for international payments and for maintaining stocks of “foreign exchange.” This still includes gold, but mostly is currencies of other nations that are immediately and automatically accepted. The dollar predominates, but the Euro, pound, Swiss franc and the Japanese yen all meet the standard.Worry? Yes and no. First, bi-lateral agreements by nations to price or invoice trade in their own currencies are largely symbolic. Moreover, desp...

Your Money: 5 things to consider in countdown to retirement

Published Sun, 16 Feb 2025 16:30:54 GMT

Bruce Helmer and Peg WebbAccording to a 2022 Gallup poll, the average age among retirees is now 61, up from 57 in the 1990s. The average expected retirement age among non-retirees is now 66, vs. 60 in 1995. There are a few reasons for this shift to later retirement dates. First, changes in Social Security payouts enacted in the 1980s are coming into play for today’s workers of retirement age — and they’re incentivizing people to stay employed longer to maximize monthly benefits post-retirement. Then, despite a slight reversal during the COVID-19 pandemic, generally longer lifespans are causing people to work longer and save more money to fund a retirement that could last 10, 20 or 30 years — and especially as the cost of living is increasing. Finally, a shift from the manufacturing economy to one focused primarily on delivering services and information means that many are opting to work longer — their jobs are not as physically demanding.Whatever your target retirement date is, you ...

Thomas Greaney signs with Cleveland Browns

Published Sun, 16 Feb 2025 16:30:54 GMT

ALBANY, N.Y. (NEWS10) -- University at Albany football tight end Thomas Greaney has officially signed a deal with the Cleveland Browns of the National Football League. A senior tight end from Bedford, Mass., Greaney was the top target for the Great Dane offense in 2022. He recorded 50 receptions for 693 yards and nine receiving touchdowns, all of which led the team. His touchdown total was tied for second in the CAA. Four times he had games in which he scored multiple (2) touchdowns. He surpassed the 100-yard mark three times, with a season-high 126 yards coming in the Great Danes' final home game against Maine, a 23-21 win in which the TE also recorded a touchdown. Get the latest, news, weather, sports and community events delivered right to your inbox! "Everyone here at UAlbany football are very happy to see Thomas sign with the Cleveland Browns and get the opportunity to play in the NFL," said Head Coach Greg Gattuso. "Thomas has worked extremely hard to reach this point and I ...

FireWolves falter in regular season finale with first-place Bandits

Published Sun, 16 Feb 2025 16:30:54 GMT

ALBANY, N.Y. (NEWS10) -- The Albany FireWolves (3-15) were defeated by the Buffalo Bandits (14-4), 16-10, at the MVP Arena Saturday evening in their final game of the 2022-'23 season.  Get the latest, news, weather, sports and community events delivered right to your inbox! It was a fast-paced, back-and-forth first half, but the Bandits grew their lead early in the third quarter and never looked back. Buffalo came out of the gate firing as Chase Fraser opened the scoring by bouncing one in between Doug Jamieson’s legs. Despite a Buffalo penalty, they were able to score shorthanded after Nick Weiss blocked a FireWolves shot and ran the length of the floor for a goal.  Still on a powerplay, Albany got their first on the board thanks to Ethan Walker as he beat Matt Vinc over his right shoulder.  Buffalo wasted no time getting the goal back as Kyle Buchanan cut to the front of the crease and scored from in close.  Keeping up the pace, Connor Kelly added ...

Great Danes men's lacrosse comes up short against Binghamton

Published Sun, 16 Feb 2025 16:30:54 GMT

VESTAL, N.Y. (NEWS10) -- The University at Albany men's lacrosse team solidified itself as the four-seed in the 2023 America East Tournament after falling just short at Binghamton, 15-14, in the Great Danes' regular-season finale Saturday afternoon. Get the latest, news, weather, sports and community events delivered right to your inbox! Key StatsTJ Sheehan scored three goals and added three assistsSilas Richmond scored four goals with one assistPeter Salit recorded five assistsBen Wimmer recorded a hat trickUAlbany outshot Binghamton 48-38UAlbany assisted on 11 of 14 goalsHead Coach Scott Marr: "I thought we played from the opening whistle to the last whistle.  Down by four with less than four to play and we two shots in the last 30 seconds that just don't fall.  We showed some good fight against a solid Binghamton team, and we have to bring that fight to Vermont on Thursday." How it HappenedThe University at Albany men's lacrosse team...

RPI Men’s Lax second half lifts them past Ithaca

Published Sun, 16 Feb 2025 16:30:54 GMT

TROY, N.Y. (NEWS10) -- The Rensselaer Polytechnic Institute (RPI) men's lacrosse team closed their regular season on a high-note, taking home a 14-9 victory on Senior Day over the Ithaca Bombers at ECAV Stadium Saturday afternoon. Get the latest, news, weather, sports and community events delivered right to your inbox! RPI concludes the regular season with a 9-6 overall record and a 6-1 mark in Liberty League play. The Engineers finish the regular season in second place in Liberty League standings and will host a semifinal game at ECAV Stadium next Friday against the third-seeded Union Dutchmen. RPI showed the first signs of life early in the first quarter, as Zach Swanson and Sean Smith went back-to-back with goals to open the game less than five minutes in. Those two goals were key early on, as both sides were kept in a low-scoring battle into the half. Luke Murphy and Angelo Venuto each scored before halftime, but strikes from Graham Brady, Charlie Niebuhr, and Jake Erickson pu...

Keeler: Chris Paul got dirty. Kevin Durant moped. Devin Booker sulked. It’s official: Jamal Murray, Nuggets are in Phoenix’s heads now.

Published Sun, 16 Feb 2025 16:30:54 GMT

Devin Booker sulked. Maybe it was the box score staring back. Maybe it was the scoreboard laughing from above. Maybe it was the ego, bruised like a Palisade Peach.Then again, when it comes to Jamal Murray, maybe it was the question.“Murray seems to be on a personal type of mission, the way he’s playing in particular,” a reporter asked the Suns guard after the Nuggets humbled Phoenix, 125-107, in Game 1 of the Western Conference semis Saturday night. “What do you have to do to slow him down?”Another Booker frown. Deeper this time.“I don’t feel that,” he replied.Oh, they feel him, all right. And with 5:55 to go in a laugher, Murray felt Phoenix right back.That’s when veteran Suns point guard Chris Paul unleashed a bit of his inner John Starks. CP3 effectively back-checked Murray, hockey-style, while the latter was breaking away with the ball in his hand.Paul lowered his shoulder, sending the Blue Arrow sliding onto the floor in a heap. Murray, who got the last laugh with a game-high 3...

1 found dead in Beverly Crest missing airplane search

Published Sun, 16 Feb 2025 16:30:54 GMT

One person was found dead after a missing airplane was located near Beverly Crest on Saturday night.The incident was reported around 8:09 p.m. near the 3500 block of Beverly Glen Terrace, according to the Los Angeles Fire Department.A small, single-engine plane, along with the deceased victim, was found on a steep hillside above a home at 3045 Beverly Glen Circle around 11:20 p.m. The victim's identity has not been released. "Though no other persons were believed aboard, a search of the immediate area will be conducted to confirm no other victims," said LAFD.Emergency crews were checking “a large swath of mountainous territory near Stone Canyon Road and Mulholland Drive” after reportedly losing radar contact with the aircraft.The airplane was believed to be traveling between Santa Monica Airport and Van Nuys Airport.Los Angeles Fire Department crews are searching for a possible missing aircraft amid heavy fog in Sherman Oaks on April 29, 2023. (Citizen)Los Angeles Fire Department cr...

Cupertino Lions Club hosts free vision clinic

Published Sun, 16 Feb 2025 16:30:54 GMT

Hundreds of patients received free eye exams April 23 at a vision clinic sponsored by the Cupertino De Anza Lions Club. No medical insurance or proof of citizenship was required to receive a free exam.Ten volunteer doctors and 70 non-medical volunteers—most of them Lions Club members—spent nine hours seeing 349 patients at the clinic, held  at St. John Vianney Community Center in San Jose. Most patients received recycled eyeglasses from the Lions’ inventory collected from schools, libraries, hospitals and banks. Unusual prescriptions were ordered from an online glasses supplier that donates them to vision clinics.Lines built up as the doctors worked to keep up with flow of people, but by the end of the day, everyone had been seen. Some patients—both children and adults—put on glasses for the first time at the clinic.The Lions Club is planning a similar clinic for October.

Bay Area Older Adults offers hikes, tours and seminars

Published Sun, 16 Feb 2025 16:30:54 GMT

Bay Area Older Adults (BAOA) is offering a variety of hikes, tours and seminars in May.BAOA leading a moderate-to-strenuous 4-mile hike May 10 to look for spring wildflowers and butterflies on the trails of Cupertino’s Fremont Older Preserve, and learn about butterflies seen along the Stevens Creek Reservoir. Register for Hike 7 at https://www.bayareaolderadults.org/bao-hikesOlder adults can take an expert-led walking tour of the Silicon Valley water purification center on May 12 to see firsthand via interactive exhibits how waste water can cost-effectively be transformed into drinking water Santa Clara County residents. For more information and to register for Event 4, visit https://www.bayareaolderadults.org/bao-culture.Dr. Merav Vonshak will lead a virtual seminar on ant ecology and social behavior on May 18, when she’ll explain the insects’ complex social interactions and how they developed agriculture and slavery millions of years before humans. Vonshak studied ants during her ...