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Indian Express
29 minutes ago
- Indian Express
Amsterdam Pride parade blends celebration and protest in LGBTQ+ show of solidarity
Around 80 colorful pride boats sailed through Amsterdam's World Heritage canals on Saturday in the finale of a week-long celebration in the city that stood in stark contrast to recent crackdowns on LGBTQ+ rights in fellow EU member state Hungary. While the flotilla is not political, attendees used the occasion to criticise conflicts or world leaders for their stance on LGBTQ+ rights. Thehany Gilmore, a 43-year-old Dutch-Caribbean dressed in a leather outfit with a whip, said banning of the Budapest pride parade 'is a form of oppression.' 'People everywhere should have their own pride to be able to represent who they are,' she said. Palestinian flags were spotted among the crowd of revelers, and Dutch police arrested four activists who had jumped in the water to vandalize the boat in protest over its listings in settlements in Israeli-occupied territories. Others criticized US President Donald Trump, whose administration implemented anti-trans policies and cut funding for international aid programs, dealing a setback to HIV prevention efforts in Africa. Some waved a hybrid US/Pride flag, while one boat declared itself a 'Trump-Free Pride Boat' with signs reading 'Trans Rights Are Human Rights.' Another featured mock graveyards and the message 'Trump's Actions Kill. Love Saves Lives,' highlighting fears over US AIDS funding cuts. 'Amsterdam Pride is… about expressing yourself, showing who you are, being grateful for the freedom that we have in Europe. The US really needs to reinvent itself… be more open about people,' 40-year-old Michael Jacobs, who hails from Dutch port city Rotterdam, said. 'Don't judge people for who they are. Just love each other.'
Time of India
an hour ago
- Time of India
Is a US recession imminent? A wake-up call as Trump's tariff shock meets collapsing job growth and Wall Street flashes crisis signals
US recession fears grow as Trump's new tariffs hit amid shocking job losses—Wall Street warns of a perfect economic storm- The phrase 'US recession imminent' is no longer just a headline—it's a growing reality both on Wall Street and in American households. President Donald Trump's sweeping new tariffs, combined with surprisingly weak job data and heightened market volatility, are creating what many economists now call a 'perfect economic storm.' From job losses to trade disruption and tumbling markets, the signals are flashing red—and the stakes couldn't be higher for your wallet, your job, and the future of the U.S. economy. Job report shocks Wall Street, weakens confidence in the economy The July jobs report landed like a bombshell. The U.S. added only 73,000 jobs, far short of projections. Adding to the concern, job gains from May and June were slashed by a combined 258,000—essentially erasing most of the perceived progress from earlier months. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking healthcare Project Management MBA Operations Management Degree Technology PGDM Data Science MCA Others CXO Cybersecurity Finance Public Policy Data Science Leadership Digital Marketing Artificial Intelligence Healthcare others Product Management Management Data Analytics Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Crucially, this wasn't limited to one sector. Even typically stable areas like government hiring and services showed declines. With the unemployment rate rising to 4.2% and labor force participation dropping for the third month straight, economists now warn that these aren't seasonal trends—they may point to a long-term economic slowdown. Trump's global tariff wave adds fuel to the fire Just hours after the job report, President Trump signed an executive order on July 31, triggering 'reciprocal tariffs' on imports from over 60 countries. New tariffs include: Live Events Canada: 35% India: 25% Switzerland: 39% Taiwan: 20% Rates are set to take effect within days, with the White House insisting the move will 'level the playing field.' But economists and trade experts warn that raising import costs right now could backfire—driving up prices for consumers and businesses, curbing investment, and deepening the downturn. Wall Street rattled by warning signs of recession Markets reacted swiftly to the double blow of the job data and tariffs : Dow Jones fell 1.2% S&P 500 dropped 1.6% Nasdaq plunged 2.2% —marking its worst day in over three months The VIX index, known as Wall Street's 'fear gauge,' spiked. Meanwhile, Treasury yields collapsed, with the 2-year yield dropping at its fastest pace since 2001—a clear signal of recession fears. Investors are now betting on the Federal Reserve slashing interest rates by September, suggesting the need for emergency intervention to prevent a full-scale economic downturn. Trump fires BLS chief, sparking alarm over data integrity In a dramatic twist, Trump fired Erika McEntarfer, the head of the Bureau of Labor Statistics (BLS), just hours after the jobs report was released. The White House claimed the numbers were 'manipulated' to damage the administration's image. This has sparked major concerns about the credibility of official economic data. Many fear this move could undermine public trust at a time when accurate, transparent reporting is more critical than ever. How it impacts the average American This isn't just about Wall Street. Everyday Americans are already feeling the pressure: Job prospects are weakening, especially in industries exposed to global trade Prices are rising as tariffs take hold—from electronics to groceries 401(k)s and retirement savings are vulnerable as markets wobble Mortgage rates might fall , but that may not offset the pain of job insecurity The mix of rising costs and falling job security is putting serious pressure on working families, even before any official recession is declared. What to watch next as recession risk rises Here's what could shape the coming weeks: August jobs report : Continued weakness could confirm that a recession is already underway Federal Reserve response : Rate cut signals will be key market movers Tariff negotiations : Some countries may seek exemptions, but Trump warns it's 'too late' Consumer spending : A major pullback could tip the economy into full contraction Are we already in the eye of the storm? Many experts believe we're no longer waiting for a recession—we may already be in the early stages of one. The combination of slowing job growth, trade tensions, falling market confidence, and policy uncertainty is creating a fragile and volatile environment. This so-called 'perfect economic storm' is no longer hypothetical—it's forming before our eyes. What happens next will depend on policy decisions from Washington, the strength of the U.S. consumer, and how the global economy reacts in the critical weeks ahead. FAQs: Q: What caused the latest US recession fears? Trump's new tariffs and weak job data triggered rising concerns of a U.S. recession. Q: How do Trump's tariffs affect average Americans? They raise prices on imports, making everyday goods more expensive. Economic Times WhatsApp channel )
Time of India
an hour ago
- Time of India
Nuclear drama deepens: Russia shrugs off Trump's submarine threat; boasts undersea superiority
Nuclear drama deepens: Russia shrugs off Trump's submarine threat; boasts undersea superiority In a chilling echo of Cold War posturing, Russia, in response to US President Donald Trump's nuclear vessels positioning order, claimed that it has more than enough nuclear submarines patrolling the world's oceans. Russian Duma member Viktor Vodolatsky told state-run agency TASS that Trump's order to redeploy two US nuclear submarines to "appropriate regions" was already anticipated, and that the American vessels are firmly within Russia's watch. "The number of Russian nuclear submarines in the world's oceans is significantly higher than the American ones, and the subs that US President Donald Trump ordered to be redirected to the appropriate regions have long been under their control. So no response from the Russian Federation to the American leader's statement about the submarines is required," Vodolatsky said. His comments came hours after Trump, in a Truth Social post, claimed he had repositioned US submarines in response to "extremely provocative statements" by Dmitry Medvedev, Russia's former president and now deputy head of the Russian Security Council. "Let the two US subs sail, they have been in the crosshairs for a long time now," Vodolatsky added ominously. "A fundamental agreement that must be concluded between Russia and America so that the whole world calms down and stops talking about the beginning of World War III," he added. While the rhetoric has sent pulses racing across global headlines, Russian foreign policy experts are calling for calm. Fyodor Lukyanov, editor-in-chief of Russia in Global Affairs, downplayed Trump's statement, suggesting it was more social media showmanship than actual military strategy. "Trump, as we know, runs his own channel and reacts, so to speak, emotionally, humanly and spontaneously. I think that the armed forces, the naval forces of the United States read this with great surprise. If this exchange of opinions continues, and Trump continues to be drawn into it, then, one way or another, he will probably have to take some action. In my opinion, so far this is only at the level of words," Lukyanov told local private news channel RBC TV.
