5 Sep 2024

Kristina Foltz: What Biden can do to free Venezuela of Nicolás Maduro’s illegitimate regime

by | posted in: Politics | 0

With flags and voting receipts in hand, thousands of Venezuelans have taken to the streets in Caracas and worldwide to protest Nicolás Maduro’s refusal to recognize his overwhelming defeat in the presidential election a month ago. The United States can do more to back them up.

The opposition party’s leader, María Corina Machado, recently came out of hiding to ride through the streets among throngs of demonstrators. Emerging from an armored truck, she urged her supporters to maintain their courage, defend the truth and ramp up defiance against Maduro’s fraudulent regime. Calling the protests the “greatest civic feat in the history of the country,” Machado warned that the movement would not relent.

After Maduro ordered his military leaders to respond to the protesters with an ” iron fist,” at least 24 were found dead and 2,200 were imprisoned. Undaunted, opposition leaders plan to keep a critical mass on the streets, lure military leaders to their side and drain the dictator’s resources and power. But to achieve all that, they will need all the help they can get from Washington.

The Biden administration has expressed openness to negotiations with Caracas, but Maduro has shown he can’t be trusted to abide by his agreements. After talks with the United States in Qatar last year, Maduro’s government promised to allow free and fair elections. It turned out to be another bluff: Not only was the election stunningly unfair, but Maduro responded to the result by cracking down on opposition leaders and their supporters.

Waiting for intervention by Maduro’s fellow leftists in Colombia, Brazil and Mexico, meanwhile, will only buy the dictator more time for deception and repression.

The Biden administration has alluded to the possibility of offering Maduro amnesty from prosecution on drug trafficking charges if he agrees to a peaceful transfer of power. But given his past failures to comply with international agreements, and with four long months left in his term, that “carrot” probably won’t be enough to dislodge the strongman. The United States and other foreign powers will have to threaten him with “sticks,” imposing economic and diplomatic consequences to push him out of power.

The harshest possible sanctions must be leveled against Maduro and all state-owned industries to make an exit plan his best option. Hector Briceño, a Venezuelan postdoctoral researcher at Germany’s University of Rostock, told me that although sanctions on private business could hurt ordinary Venezuelans, targeting state-owned enterprises such as the country’s petroleum industry can be effective when the regime is as cash-starved as it is now.

Related Articles

Opinion |


Carl P. Leubsdorf: They’re all ‘flip-floppers’

Opinion |


Thomas Friedman: How Netanyahu is trying to save himself, elect Trump and defeat Harris

Opinion |


Marc Champion: Netanyahu’s conflicts of interest are hurting Israel

Opinion |


Patrick A. McLaughlin: Most, least-regulated states reveal need to get off autopilot

Opinion |


Trudy Rubin: Netanyahu’s betrayal of remaining hostages could drag U.S. into a regional Mideast war

“Profits from the petroleum industry don’t reach the people,” Briceño said. “Maduro spreads them between his allies among the military and other top officials.”

Maduro’s regime, like that of his predecessor, Hugo Chávez, operates on a top-down system of bribes and threats. The threats alone work for only so long; at some point, Maduro’s minions will expect to be paid.

In April, responding to Maduro’s interference with and intimidation of the opposition ahead of the election, President Biden reinstated some of the Trump-era sanctions that had been eased following the Qatar deal. But the administration indicated that it would allow certain foreign oil operations to continue in the country.

The Maduro government’s objections to the reimposition of sanctions showed that they have an impact, but his continued intransigence also reveals that they haven’t gone far enough to affect his behavior. And this is the worst moment to be generous with the regime. Why not hold up authorizations of the remaining low-yield, risky and environmentally hazardous foreign oil ventures, at least until a democratic government is in place?

Washington should also officially recognize Edmundo González Urrutia as the country’s rightful incoming leader. The Biden administration has joined a few other countries in acknowledging that González won the election, but it stopped short of calling him the president-elect.

The administration can’t necessarily ensure that Venezuela’s valiant struggle for liberty prevails. But doing less than it can will only help Maduro and his cronies get richer and bolder in prolonging their hold on political power.

The stakes couldn’t be higher. Nearly 8 million Venezuelans have migrated to the United States and other countries in search of a better future, and 40% of those remaining say they plan to leave if Maduro doesn’t. A once-thriving economy has been devastated by years of inept and corrupt rule, and the country has become a haven for institutionalized crime and terrorism and a security threat to the entire hemisphere.

The brave Venezuelan resistance isn’t giving up, and the United States shouldn’t either. This is a golden opportunity to end 25 years of misery under Chávez and Maduro.

Kristina Foltz is a researcher and writer based in California and Colombia. She wrote this column for the Los Angeles Times.

5 Sep 2024

Pablo López on point as Twins earn series split with Rays

by | posted in: News | 0

ST. PETERSBURG, Fla. — Fresh off an ugly defensive game on Wednesday, and digesting tough injury news about Byron Buxton and Max Kepler, the Twins needed someone to who could send them to Kansas City for a pivotal series with some optimism.

And who better than Pablo López?

López has looked every bit the ace in the second half of the season and on Thursday helped lead the Twins to a 4-3 win over the Tampa Bay Rays in the series finale at Tropicana Field.

Kepler was placed on the 10-day injured list with patella tendinitis, and Buxton’s rehab from a hip injury took a step back when he felt pain during a rehab game Wednesday in St. Paul.

His 23⅓-scoreless innings streak was broken in the third inning when he allowed a two-run single to top prospect Junior Caminero, but the right-hander featured some of his best stuff as the Twins salvaged a split of the four-game series.

López threw three different pitches above 98 mph, including one at 98.6 — the hardest pitch of his career. And his sweeper had a 70 percent whiff rate, accounting for seven of the 18 swinging strikes he racked up in the game.

He gave up just one other run in the game, in the seventh inning when Yandy Díaz doubled to right. Matt Wallner tracked down the ball and his momentum took him tumbling over the outfield wall.

A lengthy replay review followed as the umpires figured out which base to place Díaz on. More than 10 minutes had passed, perhaps leading to the end of López’s day as Griffin Jax was summoned to finish off the seventh inning.

But it was yet again another promising start from López when his team needed him the most.

The Twins’ top starter pitched with the lead for much of the day as Edouard Julien stepped up offensively and hit his first major league home run since April 25 in the second inning, a three-run shot off starter Taj Bradley on a pitch left over the heart of the plate.

Wallner hit a solo homer an inning later for a 4-0 lead the Rays were unable to surmount.

With the split in the Sunshine State, the Twins now travel to Kansas City, to face the Royals, on whom they have a half game advantage in the American League Central race.  Both teams are currently positioned to win a Wild Card berth.

5 Sep 2024

The best ways to give money to a teenager

by | posted in: Society | 0

By Kimberly Palmer | NerdWallet

The investing information provided on this page is for educational purposes only. NerdWallet, Inc. does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks, securities or other investments.

Giving money to teenage children might sound simple, but it can quickly become complicated. Parents often want to set limits on how much their teens can spend, teach them about money management and protect them from fraud, all at the same time.

“It’s about knowing your kids and tailoring the approach a little bit to the child,” says Amy Spalding, a certified financial planner at District Capital Management, a Washington, D.C.-based firm. Some kids need more active help to stay organized and learn how to stay within a budget, while others need to be encouraged to practice spending in the real world.

Here are some strategies to consider when providing money to your teenager:

Start with cash

When children are using money on their own for the first time, sticking with cash can be the easiest way for them to learn how to manage it, says Dan Tobias, a CFP and founder of Passport Wealth Management in Cornelius, North Carolina. “First, get them to understand and appreciate money with paper. Then, when you need to, you can switch to electronic methods,” he says.

That’s the approach he uses for his own three children. He gives them a cash allowance and lets them decide how to spend it, which includes letting them make mistakes.

“Don’t be afraid to let them fail,” Tobias says. Kids might lose a $20 bill, splurge on something that breaks the next day or, in his case, buy a fish and a tank that they soon don’t want anymore. Those mistakes are critical teaching moments, he says, so it’s important parents don’t micromanage their kids’ spending.

Leverage familiar apps

Once children start earning and spending their own money without you nearby, digital payments become more appealing. You can use methods you and your kids may already know, like Apple Wallet, Venmo or other apps already connected to your phone. They are often connected to a parent’s credit card or checking account, unless a child already has their own.

Sarah Behr, a financial planner and owner of Simplify Financial in San Francisco, says apps can be helpful because a parent can closely monitor a child’s spending and “keep the guardrails up” while still giving them the freedom to make their own spending decisions.

If a teen overspends without permission, that can lead to a helpful conversation about budgeting. At the same time, parents can find ways to make sure their own accounts are protected, by using the apps to set spending limits or creating separate accounts with low balances and low credit limits.

Spalding turned to digital payment apps when her teenagers started spending money on their own. She set up a separate bank account with a low balance to limit the potential damage if the account was compromised or a teen overspent.

(Kimberly Palmer shares how she gives money to her teenage daughter.)

Try paid products for more support

Debit cards and apps designed for kids like Greenlight, GoHenry and BusyKid offer additional support for families, such as allowing them to actively manage a budget and chores, but they often come with a fee.

Greenlight, which costs between $5.99 and $14.98 a month, offers parental controls, the ability to assign chores and allowance automation, among other features. “Kids can understand the bigger picture of money management” and also set savings goals for themselves, says Jennifer Seitz, director of education at Greenlight.

Gregg Murset, a CFP and CEO of BusyKid, a debit card and chore app for kids, says the app helps parents teach kids important lessons about tracking money, investing and giving to charity. “That’s what we do as adults — save, invest and share — so we are modeling reality,” he says, adding that kids ages five through 17 can use the app, which costs $4 a month.

Encourage savings

Regardless of the method you choose, saving money should be part of the conversation with your kids, Spalding suggests. When her children were young teenagers, she took them to a local bank to set up a savings account so they could deposit money they had accumulated from babysitting jobs and gifts. She says you could also use an online high-yield savings account to see the money compound more quickly.

Investing in a Roth IRA can be a smart next step for children earning their own money. Behr offered her daughter a savings match up to the amount she contributed to encourage her to save more for the future. “I’m hoping the discipline of this exercise in delayed gratification sinks in,” she says. Teens can save up to the amount of their earned income with a limit of $7,000 for 2024.

With that kind of practice, saving for the future might even become a lifelong habit.

More From NerdWallet

Kim Palmer: How I Give Money to My Teenager
How to Set Financial Goals
The Cost of Raising Children

Kimberly Palmer writes for NerdWallet. Email: kpalmer@nerdwallet.com. Twitter: @kimberlypalmer.

The article The Best Ways to Give Money to a Teenager originally appeared on NerdWallet.

5 Sep 2024

Study looks deeper into olive oil’s health benefits

by | posted in: News | 0

Olive oil has long been touted for its ability to lower heart disease risk. So University of Florida researchers set out to dig deeper to learn how much olive oil is beneficial.

During the Recipe for Heart Health study, 40 participants at risk for cardiovascular disease were randomly assigned to consume either a “low” amount (less than a teaspoon) of extra virgin olive oil or a “high” amount (4 tablespoons) each day. After a one-week “washout” period, the participants switched and followed the other olive oil regimen for four weeks. Participants also adhered to whole-food, plant-based or vegan diets that were not low in fat.

UF’s researchers found that no matter the amount, consuming Extra Virgin Olive Oil decreased LDL, or “bad,” cholesterol, which has been linked to heart disease. They also learned that while consuming olive oil daily helps, other elements of someone’s diet may play a more significant role in achieving health benefits. For example, people who consumed low amounts of olive oil, but also limited foods such as red and processed meats, added sugars, and saturated fats  and ate plant-based fats such as avocados, nuts, seeds and olives had more significant reductions in LDL cholesterol than participants who just consumed high amounts of olive oil.

Overall, the study’s researchers concluded that where participants received their dietary fat from mattered and that getting it from whole-plant-based fats was more beneficial for reducing cholesterol than getting it from olive oil alone. The UF team plans to use data to produce additional research articles on cooking, diet quality, mood and quality of life.