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Bank of England steps in to calm markets

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Bank of England

The Bank of England has said it will step in to calm markets after the government’s tax-cutting plans sparked a fall in the pound and caused borrowing costs to surge.

It warned that if the market volatility continued there would be a “material risk to UK financial stability”.

The Bank will start buying government bonds at an “urgent pace” to help restore “orderly market conditions”.

The pound tumbled to $1.0586 after the news, down 1.4% against the dollar.

It comes after the currency hit a record low on Monday following the chancellor’s mini-budget, which pledged $45bn worth of tax cuts, funded by borrowing, as part of a plan to boost economic growth.

Concerns over whether the plan will work, means investors have been demanding much higher interest rates to lend to the government through Treasury bonds or “gilts”. But the Bank now hopes to lower these prices by stepping in as a buyer.

Gilt yields fell back after the bank’s intervention.

The Bank has already said it will “not hesitate” to hike interest rates to try and protect the pound and try and stem surging prices.

Credit: bbc.com

Nuclear attack in Ukraine should spark ‘devastating’ Nato response -Poland

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Poland’s foreign minister, Zbigniew Rau

Poland’s foreign minister, Zbigniew Rau, has said Nato’s response to any use of nuclear weapons in Ukraine should be non-nuclear but “devastating”.

Speaking on a visit to Washington, Rau said the alliance was in the process of delivering that message to Moscow.

The Russian military debacle in Ukraine, where its forces are being pushed back in the east of the country, has increased concerns that a desperate Vladimir Putin could resort to using a nuclear weapon, possibly a lower-yield tactical warhead, in a bid to shock Ukraine into halting its resistance to his invasion.

“To the best of our knowledge, Putin is threatening to use tactical nuclear weapons on Ukrainian soil, not to attack Nato, which means that Nato should respond in a conventional way,” Rau told the NBC News program Meet the Press. “But the response should be devastating. And I suppose this is the clear message that the Nato alliance is sending to Russia right now.”

The US national security adviser, Jake Sullivan, warned on Sunday that any nuclear use by the Kremlin would have “catastrophic consequences for Russia”.

Credit: theguardian.com

How to Treat Hemorrhoids at Home

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Piles

You don’t need to see a doctor for quick ways to ease your itching and pain, or for ongoing fixes to keep the discomfort from getting worse. The best treatments for hemorrhoids are often things you can do at home.

Many of these tips will help you avoid constipation and make it easier to go. That can stop hemorrhoids before they form, too.

Ease Pain and Itching

Take warm baths. Soak in a bathtub filled with a few inches of warm water for about 15 minutes at a time. Do it two or three times a day and after every bowel movement. If you want to wash the area, too, use unscented soap and don’t scrub.

Pat gently afterward to dry. You can even use a blow dryer on a cool setting if that feels better.

There are also special “sitz baths” you can put directly on your toilet seat to make soaking easier.

Rub on relief. Over-the-counter wipes or creams with witch hazel can soothe pain and itch with no side effects. Don’t use one with hydrocortisone for more than a week unless your doctor says it’s OK.

Ice it. Put a small cold pack on the trouble spot several times a day. It can dull pain and bring down the swelling for a little while.

Consider painkillers. An over-the-counter medicine, like acetaminophen, aspirin, or ibuprofen, could help with soreness.

Don’t scratch. You could damage the skin and make the irritation — and the itching — worse.

Choose cotton. Wear loose, soft underwear. It keeps the area aired out and stops moisture from building up, which can bother your hemorrhoids.

Good Bathroom Habits

Limit your time on the throne. If you don’t go after a few minutes, don’t wait or force something to happen. Try to get into a routine where you go at the same time every day.

Be gentle. If toilet paper is irritating, try dampening it first. Or use pre-moistened wipes, cotton balls, or alcohol-free baby wipes.

Don’t hold it in. When you feel like you have to go, do it. Don’t wait for a better time or place. Stool can back up. And that can lead to straining and more pressure. Go as soon as you can when you feel the urge.

Try a squat position. Put a short bench or a stack of phone books under your feet when you go to the bathroom. Raising your knees as you sit on the toilet changes the position of your inner workings and could make bowel movements easier.

Don’t Make Things Worse

Bump up the fiber. It softens your stools and makes them move through your body more easily. You’ll find it in beans, whole-grain breads and cereals, and fresh fruits and veggies.

You may also want to try a supplement if you can’t get enough from foods. Add fiber slowly to help avoid gas and bloating.

Drink lots of fluids. Stay well hydrated to keep stools soft so they’re easier to pass. Water is the best choice. Drink plenty throughout the day. Prune juice is a natural laxative and can help you go.

Exercise regularly. Even brisk walking 20-30 minutes every day can help keep you from getting stopped up.

Breathe! Keep the air moving in and out when you’re working hard. It’s common to hold your breath as you’re pushing, pulling, or making an effort (you probably don’t realize you’re doing it) — and that can lead to hemorrhoid pain and bleeding.

Use a pillow. Sit on a cushion instead of a hard surface. It will ease swelling for any hemorrhoids you have. It may also help prevent new ones from forming.

Take breaks. If you must sit for a long time, get up every hour and move around for at least 5 minutes.

Source: www.webmd.com

Feature: It is time for conservatives to grow up and save the country

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Feature

Nkrumahist socialists, Marxists, social democrats and progressives have attacked the ideas of freedom and liberty —- the rule of law, individual rights, property rights free press, etc. —, before and after independence in 1957. They still do.

These ‘progressives’ blame the downward trend of the economy on external forces, inequality, and free market capitalism and insist that poverty and corruption is because of capitalist greed, and social injustice.

The ‘progressives’ get it all wrong. The poverty, inflation, the corruption and the worsening conditions of Ghanaians is not the problem of free market capitalism.

The problem is higher taxes, government intervention and regulation in the economy and our lives, maintenance of public goods, forcing too many people to live at the expense of others or charge their personal economic problems to the national credit card.

Intervention allows politicians and bureaucrats – not the masses themselves – to make most crucial decisions in the economy, which restrict the choices people make.

Therefore, when the vast majority of Ghanaians believe the country’s economy is on the wrong track, going to hell in populism’s hand basket, it is because of the ‘principles of state policy’.

Indeed, long the vicious cycle of clientelism, higher taxes, reckless public spending, inflation, higher petrol prices, and corruption, are because of the same cycle of interventionist’s policies that have wrecked the economy since independence.

Interestingly, it is a spiral that is difficult to break — bottomless public spending assures votes, while the high public debts are pushed to the future to be dealt with by the next elected official.

Ironically, there seems not much urgency for new and alternative policies to stop the madness, fix anything or muster much opposition to the ‘progressive’ fairy tale promises of meeting all of the needs of citizens — ranging from food, housing, and health care to education.

The story of Ghanaian politics is not so simple. The line between Danquah conservatives, who claim to believe in rule of law, property rights and individualism, and Nkrumah’s unhinged populists, with their African socialism policies, has broken down.

Political observers would be familiar with the failure of the Nkrumah-style African socialism, as has the mercantilism sponsored by his successors over the past years, which has only enriched the elites and brought corruption, nepotism, and wars for political control. Our politicians no longer fight an ideological war.

They have sadly become partners in a joint venture sustained by mutual self-interest and wilful rent taking, crony capitalist policies that have sentenced the majority of the citizens to live in poverty.

Ghana’s proverbial natural resources have been of no use to the people. Together our politics has paved the way for neo-colonialism to thrive and corrupt people to climb to the pinnacle of political power.

Presently, our politics has become a profession for plunder. A tiny minority prospers. Laws are broken with impunity. Meanwhile, critics are threatened or bribed into silence.

Nobody needs a degree in economics to see our policies are driving us to ruin. This country cannot continue to build private wealth on the back of public deficits.

Why do our leaders, in spite of their reckless and extremely high level of public spending and government entitlements that create huge pockets of citizens who are completely dependent on government support for survival, encourage their supporters to blame “neoliberalism” or “economic inequality” or “free market capitalism” for current economic problems?

There is indeed a reason why World Bank aid has been spectacularly unsuccessful. “Creating a robust, independent economy” is a nice sentiment. But if it is not coupled with a willingness to reduce the cost of government, reduce level of government intervention in the economy and a robust understanding of what individual responsibility, rule of law, property rights, economic freedom and wealth creation policies that reward results, not promises, our intentions can be somewhat void.

To revitalize our economy and strengthen government, we need to talk about talk. We need a new, respectful rhetoric — respectful, that is, listen to alternative views, analyse the relationship between the policies of prosperity, by which this country can escape poverty,and policy models, which are formulated based on how the world used to work, or supposedly worked, but are out of line with how the world works now.

Indeed, the growth of the economy should be so much more than a slogan. It is about ethics and personal responsibility. It is about self-improvement and creating value for others.

It is about seeing people as unique individuals and recognizing the tremendous benefits of free markets–self-reliance, fidelity, piety, industry and opportunity, individualism, low barriers to trade, and low barriers to capital flows and investments. You can call it conservatism or free capitalism. It is!

It is about time then, for conservatives to change the rhetoric in the political market place. We have to change course. We have to grow the economy. We have to understand what the vicious cycle of cronyism, higher taxes, reckless public spending and power-centralization, the same cycle that wrecks nations, is doing to our economic development.

Everyone seems to think that common sense will prevail and people will stop voting for bad politicians but we are not so sure. We cannot win this fight without ideas. It is not enough to be simply-not them.

Patriots need to point out – again and again – how government’s arbitrary intrusions into private economic transactions and its disregard for civil liberties is the cause of our problems. It is critical that freedom-loving politicians offer Ghanaians a worthy agenda of progress – A vision of a brighter future.

Common-sense thinking means, measuring good governance by the extent of intrusion. Rather, by the environment and the rules of the game that inspires people to go out and fend for themselves, their families and to keep this country strong. You cannot build anything worth building by punishing the poor who work by taking away benefits.

Those who continue to promise ‘an economy that works for all’ or ‘meets all the needs of all the people’ would not be able to defend their bad record.

The trouble with government interventionism is that it undermines the spirit and creativity of people, making them poor; moral and social progress depends on individual creativity and voluntary cooperation, not government planning and coercion.

The majority of Ghanaians are looking for new policies that give opportunity, not hand-outs.

None of those who preach ‘equity’ and ‘social justice’ is bringing in any “new” or “revolutionary” or even better, “progressive”, ideas. Their ideas are always the same, and have already been tried, always leading to crushing failure and suffering.

Unless those who believe in the individual and trust his ability to create wealth wins power, and restore the people’s right to regulate the government and redistribute its power back to individuals, we will stagger from economic crisis to economic crisis.

Of course, true conservatives would not run billion cedi deficits or propose new spending on entitlement programmes and subsidies that will put Ghanaians further in debt.

Conservatives will not concentrate all resources and decision-making in the State, and arouse expectations that could never be satisfied, and encourage everyone to live at each other’s expense through the tax and benefit system.

We should never forget that our rent-seeking progressives and their allies would not accept that growing our economy depends on freedom and rewarding those who work hard, take risks, and defer short-term pleasure to put themselves and their families in a better place. But, doing that will put them out of work.

That is why they will always make elections about their opponents — nasty, hateful free market conservatives. We need to make it about building a brighter future.

Freedom lovers should begin to be and always remain on offense. Bearing in mind that the ‘progressives’ with their bought media, their Mickey Mouse intellectuals and their gravy train partisans will always attack freedom and liberty nonstop and relentlessly.

Ghana needs people of conscience to put an end to the pandering and perfidy of so-called progressive social democrats. This country needs those who sincerely believe in the rule of law, the individual and property rights to stand up and be counted. It is time for more profiles in courage and fewer acts of cowardice.

By Kwadwo Afari

I nearly retired from boxing until a statue was built in my honour; Wilder

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Deontay Wilder

Deontay Wilder was considering hanging up his gloves for good after suffering a devastating 11th-round KO defeat to Tyson Fury during their trilogy bout in October last year.

The American boxer said he needed some time away from the ring to process the back-to-back defeats in 2020 and 2021 as they were the only losses of his professional career.

He was expected to walk away from boxing for good but the Olympic bronze medalist changed his mind after witnessing the public’s reaction to the unveiling of a life-size statue made in his likeness in May 2021.

Wilder referred to himself as a ‘walking, living legend’ and insisted the ‘world really needed’ him to return to boxing as he ‘motivated’ people.

‘What really got me back to this point [was the realization], like, damn, the world really needs me,’ Wilder said. During the ceremony, Wilder told fans that he would be returning to the ring in the future as he has a ‘lot of thing to get out of the way’ before hanging up his gloves.

Wilder will return to the canvas on October 15 to face Robert Helenius. However, he has recently called out Fury, Antony Joshua and Oleksandr Usyk after claiming he is still a ‘big fish’ in the division.

Credit: dailymail.co.uk

Nadal can’t hold back the tears as rival Roger Federer bids an emotional farewell to tennis

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Nadal broke down in tears for his great rival Roger Federer as he bid farewell to tennis

After the big cry came the big cry-off, with Rafael Nadal joining Roger Federer on Saturday in withdrawing from singles play at the Laver Cup.

This followed the extraordinary late night scenes at the 02 Arena, which saw the two legends in tears following their final appearance together. It was approaching 2am when the two of them came in to reflect on being a part of Federer’s valedictory match, which had sparked a remarkable outpouring of emotion.

By then Nadal was on the brink of confirming that he would be flying straight home to be with his wife Xisca, who is in the final stages of a difficult pregnancy. It appeared that the taxing personal events going on in Nadal’s life contributed to a rare public display of his feelings.

His withdrawal — a big disappointment to fans — was not a huge surprise, as it is understood that his replacement, Cam Norrie, was told some time ago to be fully prepared to step in.

It was also noteworthy that Nadal admitted that the retirement of Federer has had him thinking about his own future. Andy Murray, one year younger at 35, talked along similar lines last week, and you wonder how long it will be before there are more lachrymose farewells to members of this extraordinary generation.

‘I’m a pretty sensitive person, I’m not worried about crying. Crying is good sometimes, you need to let go of these emotions,’ Nadal told Spanish media.

late that he has been contemplating the end.

‘I was close to that moment this year, I’m not going to lie to you. During Roland Garros I thought it might be my last tournament, this is the reality.

‘From there everything went very bad physically. I injured my abs twice, at Wimbledon and in New York. It’s been a series of major misfortunes, added to these personal issues.’

Credit: d ailymail.co.uk

European giants struggle for form as World Cup looms

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Bruno Fernandez, Portugal

Just weeks away from the start of a World Cup like no other, the poor form of Europe’s powerhouses suggests there could be a changing of the guard in Qatar.

European nations have won every World Cup since Brazil lifted the last of their five titles in Japan and South Korea in 2002.

Europe has supplied 13 of the 16 semifinalists at the past four World Cups, with Italy, Spain, Germany and France coming out on top.

But reigning European champions Italy have failed even to qualify for Qatar, while there are doubts over the chances of England, France, Germany and Spain.

 

England’s six-game winless run is their worst ever heading to a major tournament, with the Three Lions relegated from the top tier of Uefa’s Nations League.

World champions France only avoided the same fate thanks to other results going their way as Les Bleus and Germany won just one of their six Nations League group games.

Spain have progressed to the semifinals of that competition, but were beaten 2-1 at home by Switzerland last week.

Adding to the uncertainty is a first-ever mid-season World Cup for European teams, with no time for pre-tournament training camps and friendlies.

Between now and the break for the World Cup on November 13 – a week before the tournament starts – players at Europe’s top teams could play up to 13 times for their clubs.

“Everybody has got the same challenge. It’s a strange period because so many teams are a little bit up in the air,” said England manager Gareth Southgate.

“There are very few teams that have been able to find form.

“We’ve all had the players for three or four days, two games in quick succession, and now this gap where you are sitting hoping you don’t pick up big injuries, but we’re going to pick up some.”

‘HIGH-LEVEL OPPOSITION’

Injuries, fatigue and the competitive nature of the Nations League have been pinpointed as the reasons for the struggles of some of the traditional giants.

England, Germany and Italy were all in the same Nations League group, as were Spain and Portugal.

“We’re playing and have been playing some top-level sides and we will be better for that,” said Southgate.

“In the past we’ve had runs of friendlies or whatever the matches are and then we’ve gone into tournaments. This is the first time we’ve hit high-level opposition.”

France were without a host of stars that Didier Deschamps hopes will be fit for the World Cup for their 2-0 defeat to Denmark on Sunday.

“The important thing is to be able to recover all our strength in the next two months,” said Deschamps.

As the European contenders struggle for continuity with little time to prepare, Argentina and Brazil head to Qatar as the form teams.

In what could be his final World Cup at 35, Lionel Messi is enjoying playing in the best Argentina side of his international career.

Lionel Scaloni’s men are on a national record 35-game unbeaten run stretching back to 2019, which includes Messi’s first major international trophy at the Copa America last year.

Defeat in that Copa America final on home soil is Brazil’s only defeat in 29 matches.

The vast majority of those games for both nations have come against inferior opposition in friendlies and South American World Cup qualifiers.

But any questions over the quality of the current Argentina squad disappeared in a dominant 3-0 victory over Italy in June in the first-ever “Finalissima” between the champions of Europe and South America.

“I see Argentina above the rest and Brazil too,” said Spain boss Luis Enrique. “Well above the rest.”

Source: supersport.com

Italian league first woman referee to make debut this weekend

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Referee Maria Sole Ferrieri

Italy’s Serie A is set to have its first match officiated by a woman after the country’s referee association AIA confirmed on Wednesday that Maria Sole Ferrieri Caputi would take charge of a game this weekend. In July Ferrieri Caputi was promoted to the top rung of Italian football’s match officials and local media report that she will be assigned Sassuolo’s home clash with Salernitana on Sunday afternoon.

“This isn’t any old day, I’m pretty emotional,” said AIA president Alfredo Trentalange.

Speaking at a press conference in Rome he did not confirm which match Ferrieri Caputi would be given.

“Maria Sole will make her Serie A debut on the basis of her merit… We don’t hand out privileges, Maria Sole has earned this, and it’s a success for the whole refereeing sector.”

Ferrieri Caputi refereed in the third-tier Serie C last season but she has already refereed a match featuring a Serie A side, when Cagliari played Cittadella in the Italian Cup in December last year.

The 31-year-old also officiated the latter team’s Serie B match with SPAL two months before.

Women referees are becoming increasingly common in the men’s game, with three selected for the upcoming men’s World Cup in Qatar.

Credit: supersport.com

Rio Ferdinand says racism remains a problem in football; after Richarlison had banana thrown at him 

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Richarlison had banana thrown at him when Brazil played against Tunisia

Rio Ferdinand says it is “disheartening” that racism remains a problem in football after Richarlison had a banana thrown at him in Brazil’s 5-1 friendly win over Tunisia.

The Tottenham striker was celebrating a goal when the incident occurred in Paris.

Former Manchester United defender Ferdinand said authorities must do more to combat racism in the sport. He described it as “another day racism is OK and welcomed in football”.

“I’m not saying football can change or cure racism because I would be an idiot to think that,” Ferdinand said on his Youtube channel.

“But when you’ve got your own kids waking up and saying: ‘Dad, have you seen that banana thrown on the pitch at Richarlison?’ It’s madness.”

Richarlison said on Tuesday that racism will continue “every day and everywhere” unless authorities “punish” the perpetrators.

“Football can play a good part in highlighting issues and standing together to make the authorities and powers that be put things in place to protect people,” Ferdinand added.

“But it ain’t happening. It’s disheartening.”

Credit: bbc.com

Denmark unveil World Cup ‘protest’ kits against Qatar’s human rights record

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Denmark’s three shirts for the World Cup in Qatar

Denmark will wear shirts at the World Cup that criticise the human rights record of host nation Qatar, with a black option unveiled to honour migrant workers who died during construction work for the tournament.

“The colour of mourning,” kit manufacturer Hummel said in a post on Instagram releasing the black third-choice design. “While we support the Danish national team all the way, this shouldn’t be confused with support for a tournament that has cost thousands of people their lives,” the company said.

Though Fifa’s World Cup rules prohibit political statements on team uniform, the three Denmark shirt designs in all-red, all-white and all-black appear to comply with no words or symbols that are an explicit statement.

“We support the Danish national team all the way, but that isn’t the same as supporting Qatar as a host nation,” added Hummel.

Qatar has been fiercely criticised in the past decade for its treatment of migrant workers, mostly from south Asia, needed to build tens of billions of pounds’ worth of stadiums, roads, hotels and further infrastructure.

Credit: theguardian.com

The Ghanaian Chronicle