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Updated: May 26

The US Debt Crisis: All You Need to Know

By: Fibre2Fashion

The United States is facing a debt crisis. The national debt has reached a record high of $31.4 trillion, and the government is estimated to have hit its debt ceiling on May 16, 2023. If Congress does not raise the debt ceiling, the government will be unable to pay its bills and will default on its debt.

The US treasury secretary Janet Yellen has affirmed that the agency might not be able to fulfil all of the US government’s payment commitments by the beginning of June, leading to an unprecedented US default. According to her, the debt ceiling may come into effect as early as June 1.

A default on US debt would have a devastating impact on the economy. It would lead to a sharp increase in interest rates, a decline in the value of the dollar, and a recession. It would also damage the United States’ reputation as a safe haven for investors. The debt ceiling is not a limit on how much money the government can spend, but it is a limit on how much money the government can borrow to pay for its spending. The government can still spend more money than it takes in, but it will have to do so by using other means, such as selling assets or cutting spending.

The debt ceiling was created in 1917 as a way to give Congress more control over the government’s spending. However, the debt ceiling has been raised 78 times since then, most recently in 2017, as the government has continued to spend more money than it takes in.

In recent years, the debt ceiling has become a political football, with Republicans and Democrats often using it as a bargaining chip in budget negotiations.

In 2011, the United States came within hours of defaulting on its debt. The crisis was resolved only after Congress agreed to raise the debt ceiling. However, the experience of 2011 showed how dangerous the debt ceiling can be.

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Pic: Shutterstock

World Water Day: Accelerating Change to Address Textile Industry Challenges

World Water Day, celebrated on March 22nd every year, reminds us of the significance of clean and safe water

sources for our planet. The event, organized by United Nations-Water and various partners, aims to promote sustainable water and sanitation for all by 2030. This year's theme is "Accelerating Change," with a focus on enhancing water supply and sanitation services through capacity building in regulation. However, we are far off track on Sustainable Development Goal (SDG) 6, which aims to provide everyone with safely managed water and sanitation by 2030.

The challenges related to water, such as droughts in the United States and Pakistan floods, have been exacerbated by climate change, which is putting significant stress on the planet's water resources. Mismanagement of water resources, combined with pollution, has intensified water stress and degraded water-related ecosystems, leading to adverse effects on human health, economic activities, food and energy supplies, and the decline of aquatic biodiversity. In order to meet future demand, global production of food, fibre, and feed must increase by 50 per cent, requiring 35 per cent more water resources.

Industrial water consumption has emerged as a significant challenge to environmental sustainability, primarily due to untreated wastewater discharge, a lack of water-efficient technologies, and inadequate recycling and reuse techniques. Among industries, the textile sector is notorious for its heavy reliance on water, making it the second-most polluting industry and contributing to 20 per cent of industrial wastewater pollution. According to a report by the Ellen MacArthur Foundation, the fashion industry alone consumes a staggering 93 billion cubic metres (21 trillion gallons) of water annually, equivalent to filling 37 million Olympic swimming pools.

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West Coast port labor talks

ILWU, PMA reach tentative deal on ‘certain key issues’

Contract talks remain ongoing as the two sides near the one-year mark since negotiations began.

In an aerial view, a container ship sits idle at the Port of Oakland on July 21, 2022 in Oakland, California. The port is one of 29 covered by contract talks between the International Longshore and Warehouse Union and the Pacific Maritime Association. Justin Sullivan via Getty Images

The International Longshore and Warehouse Union said in a press release Thursday negotiators had reached a tentative deal on “certain key issues” with the Pacific Maritime Association. The longshore union did not specify which issues the new tentative agreements cover, and declined to share further comments.

The news marks the first deal publicly announced since July 26, when the two sides said they had reached a tentative agreement on the maintenance of health benefits. Prior to the start of talks in May, port employers had said continuing to offer longshore workers with “world-class wages and benefits” was one of five principles guiding the PMA in contract talks.

Other principles include: avoiding work disruptions; prioritizing safety and training; “modernizing” terminals through densification and automation; and preparing to meet “stringent” environmental regulations, according to the PMA website.

The port employers’ group released its own statement Thursday afternoon, acknowledging “significant progress has been achieved” in the contract talks.

However, the PMA also said “several key issues remain unresolved” in negotiations. In addition, the association noted a local chapter of the longshore union, ILWU Local 13, continued to disrupt operations at key marine terminals at the ports of Los Angeles and Long Beach on Thursday.

“The Union is deliberately conducting inspections that are not routine, unscheduled, and done in a way that disrupt terminal operations,” the PMA said.

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MAY 22, 2023

5 Ways to Adjust Your Workout Routine After 40

Written By Allie Baker Medically Reviewed By Renae Thomas, MD, MPHLifeforce Physician Medically Reviewed By Ryan Greene, DO, MS Lifeforce Clinical Advisor

1. Step Up Your Strength Training

“As people get older, they may lift weights less,” says Ryan Greene, DO, MS, Lifeforce Physician and Medical Director of the Monarch Athletic Club. But he stresses that you should not resist resistance training.

Dr. Thomas strongly agrees. “Strength training is the most effective way to naturally build and maintain muscle mass,” she says. Studies show that strength training helps older adults increase lean muscle mass. Besides positive changes in body composition, lean muscle mass is associated with lower mortality risk and enhanced cognitive function.

Dr. Thomas notes that strength training can also improve hormone balance by boosting human growth hormone, IGF-1, and testosterone, which are all linked to lean muscle mass.

So, how much strength training should be built into your routine? Dr. Thomas suggests two to five sessions of resistance training per week — with cardio, stretching, and active recovery days mixed in on the other days.

2. Lean Into Lower Body Workouts

While all resistance training is beneficial, lower body moves will especially give you a leg up because studies show that they stimulate the production of anabolic hormones like testosterone.

“The legs and glutes are where the largest muscle groups are,” says Dr. Thomas. “Strengthening them — especially with relatively high volume and moderate-to-high intensity — requires the most effort and tends to produce the most significant hormonal release. Lower body strength training is also associated with better overall hormone balance due to improvements in insulin sensitivity and glucose metabolism, and reduction in excess cortisol and estrogen.”

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Currency Exchange

Dollar Raise slightly over last year as the market is in recovering mode. Raw Material remain stable in price. Less volatility in the market place due to overall demand is lower.

Oil price is down form its high in 2022 . EIA project oil price will average 95.33/barrel in 2023 for Brent Crude oil. Price is holding for now due to demand so we need to continue to monitor oil price to see how it will affect raw material price.

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