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How Hurricane Helene Could Devastate the U.S. Economy and Trigger a Slowdown

Supply chain expert Amit Malhan from North Carolina A&T warns that Hurricane Helene's damage to infrastructure could significantly impact the U.S. economy. He highlights the pause in production in West Carolina, which could result in a $34 billion toll, with J.P. Morgan investors estimating $5 billion in daily costs. A major concern is the damage to Spruce Pine, a small town near Asheville, which produces nearly 90% of a critical element for microchips. The town’s infrastructure has been heavily affected by flooding, potentially halting production and disrupting the supply chain for essential items like electronics, automobiles, and renewable energy products. The recovery process will determine whether a shortage occurs, and further disruptions to Asheville’s tourism, beer industry, and big rig part production could worsen the supply chain impact. Read More.

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Cuba Submits Official Application to Join BRICS as a Partner Country

Cuba has officially applied to join BRICS (Brazil, Russia, India, China, and South Africa) as a partner country. This request was submitted to Russian President Vladimir Putin, who chairs the group, and reflects Cuba's desire to align more closely with BRICS, which is seen as a growing political and economic force representing the Global South. The Russian ambassador to Cuba confirmed that Cuba's leader, Miguel Diaz-Canel, has been invited to attend the upcoming BRICS Plus/Outreach summit.

For the U.S. dollar, this move could signal a continued shift toward economic and political alliances that challenge the dominance of Western-led institutions, including the dollar’s status as the global reserve currency. BRICS has been discussing alternatives to the U.S. dollar for trade and finance among its members, and with more countries like Cuba joining or partnering with BRICS, the push for a multipolar financial system could gain momentum, potentially reducing global reliance on the dollar. Read Now.