RG Mags Staff, Author at RG Magazines https://www.rgmags.com/author/magsstaff/ RG Magazines Mon, 26 Feb 2024 19:17:45 +0000 en-GB hourly 1 https://www.rgmags.com/wp-content/uploads/2020/11/cropped-logo-fav-1-32x32.png RG Mags Staff, Author at RG Magazines https://www.rgmags.com/author/magsstaff/ 32 32 Righting the Ship https://www.rgmags.com/2024/02/righting-the-ship/ https://www.rgmags.com/2024/02/righting-the-ship/#respond Mon, 19 Feb 2024 17:42:11 +0000 https://www.rgmags.com/?p=14507 By René Hill  Being a tradition bearer is as intrinsic to Milton Hill Sr as breathing.  Mr Hill spent his early years fishing off North Rock with his Uncle James (aka Jimmy Trott), before learning the art of shipwrighting from the likes of Rhodes Ratteray.  Today, he continues his craft, producing models of the Sea [...]

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By René Hill 

Being a tradition bearer is as intrinsic to Milton Hill Sr as breathing. 

Mr Hill spent his early years fishing off North Rock with his Uncle James (aka Jimmy Trott), before learning the art of shipwrighting from the likes of Rhodes Ratteray. 

Today, he continues his craft, producing models of the Sea Venture, the Bermuda Gig, the Bermuda Sloop, and even a special art piece commemorating modes of transportation from the Darrell’s Island Airport to the Bermuda Sloop; which can be seen on display at the Bermuda International Airport. More than anything, he is most passionate about passing on the traditions of a bygone era. 

The artist, who will be 80 in May, has witnessed the decline of many of Bermuda’s boats with the introduction of the automobile. 

Until the early 90s, most of the boats he built were fishing boats – he always had a spare in his yard, and one in the water. Then he and his son, Wali Hill, began creating string art. Soon they would sell their first collection, called The Teaser, to Bluck’s on Front Street – which was followed by Smith’s, Trimingham’s, and A.S. Coopers. 

Shows in Art Galleries would soon follow, as Mr Hill transferred his shipwrighting skills into miniature replica making. 

Over the years, Mr Hill has taught at almost every school, taking part in the Department of Community and Cultural Affairs’ Tradition Bearer’s programme – teaching promising art students like Ami Zanders and Tremaine Stovell, who would both become accomplished artists. 

Other students included Luke Smith, Nicholas Lara, Sarah Lagan, and Esmeralda Zanders who, when apprenticing with him, created the HMS Resolution, marking the life of pilot Jamie Darrell – which is now on display at the National Museum of Bermuda. 

Mr. Hill is currently teaching Whitney Institute Middle School students the art of shipwrighting. 

“We are making a Bermuda Dinghy, which is about ten feet long,” he said. “It will be laminated with plywood over oak frames.” 

The project, he disclosed, will even be seaworthy! 

“The average Bermuda Dinghy is 12 to 18 feet long and – although shorter, at ten feet – it is a good project for kids to learn the old-fashioned way of doing things.” 

Mr Hill is proud to be able to pass his skills on to Bermuda’s school students. 

“I have been to all the elementary and high schools to share this knowledge,” explained Mr. Hill. “Each group does something different. I allow youngsters to use their imagination. It is a plus in this electronic world, as they need something else to do with their hands to stimulate them.” 

The passing of this craft, and history, is very important. 

“It is necessary because Bermuda itself is responsible for what you see out here with regards to sailing and yachting and not many youngsters know this,” explained Mr. Hill. “For instance, the Bermuda Rig was the forerunner of yachts today. 

“The part Bermudians played in the development of the proper – or better yet – faster ways of sailing is nothing short of incredible. 

“The Bermuda Rig has a triangle sail, and whether it is the America’s Cup or whoever, everyone uses the sail that was first designed in Bermuda. 

“If we could get royalties for what our ancestors did it would be incredible!” 

Mr Hill is passionate about passing on this vital tradition. 

“The few shipwrights that were around are all gone now. The last one was Dockyard Apprentice Raymond DeShields, who built The Deliverance on Ordnance Island,” he concludes. “Others included Alfie Cann, Clifford Lee, the Soares brothers, Buddy DeSilva, the Baisdens, and so many St. David’s Islanders.” 

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Moving at the Speed of Math https://www.rgmags.com/2024/02/moving-at-the-speed-of-math/ https://www.rgmags.com/2024/02/moving-at-the-speed-of-math/#respond Mon, 19 Feb 2024 17:27:16 +0000 https://www.rgmags.com/?p=14497  By Shay Dawn Burgess  Education is key to advancing the Bermudian narrative. History moves at the speed of math, and that’s not just hyperbole – so organizations like Planet Math are indeed vital parts of the vast tapestry of Bermudian history.  Planet Math is a company that started out in St. George’s in 2016. Mr. [...]

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 By Shay Dawn Burgess 

Education is key to advancing the Bermudian narrative. History moves at the speed of math, and that’s not just hyperbole – so organizations like Planet Math are indeed vital parts of the vast tapestry of Bermudian history. 

Planet Math is a company that started out in St. George’s in 2016. Mr. Sergio Pitcher, the owner and driving force behind Planet Math, shared the philosophy behind his fledgling venture: 

“Math is everywhere, and math is vital for everyone! But unfortunately, it has been – undeservedly – given a bad reputation over the years. As educators and lovers of mathematics, we saw that too many students either didn’t like math, or had some form of math anxiety. 

“For this reason, we found it crucial to create an organization that helps people to change their mind-sets towards mathematics.” 

Mr. Sergio Pitcher, the owner and driving force behind Planet Math

When asked how the Clinic works, Mr. Pitcher proudly asserts that they offer various programs at Planet Math to reach the community in many ways. 

“For example, we engage the public directly with our weekly radio quiz on Vibe103 – every Tuesday and Friday morning at 7:45; a project done in conjunction with the Road Safety Council. 

“On the show, we ask two math questions, one for adults and one for children – based on road safety. This has been going on for a few years now, and it keeps math at the forefront of people’s minds.” 

Planet Math also engages children by bringing programs to various schools, such as their Financial Literacy program, which is delivered in partnership with HSBC. Their Math-a-Thon – which takes them to every primary and middle school with a fun math contest – is something that the students absolutely love. 

Of course, Planet Math offers math tutorials for people of all ages, and helps adults and children prepare for various exams. They have recently added an after-school program, where students have fun while learning math. 

Perhaps their most popular program is their Math Camps. During camp, they provide math instruction every day, but they also include STEM, and various art projects as well. In addition, they provide breakfast and lunch at camps, and do a wide variety of field trips all over Bermuda, so that students can learn about their island home. 

The Planet Math Team has raised funds for over 440 students to attend their camps – at no direct cost to parents – over the past two years. As if that wasn’t enough, one-to-one tutoring is also available. This can be done in person or on-line. For further information on this, write to [email protected]. 

Asked how to offset a negative vibe, which some students may have with math, Mr. Pitcher responds, 

“If a student has a negative attitude towards the work, they will generally not put in the effort that is required. We tell students to take a breath and relax a bit. Next, students that are feeling this way should get regular tutorial assistance. Tutoring breaks a topic down to its components and is paced at a rate that is individualized for the student. As with anything, practice, practice, practice, and realization of the topic will be earned.” 

For some, Math can be a very scary four-letter-word. Planet Math has been a miracle for many Bermudians who find the discipline anxiety-inducing – whether they be little, or grown! 

In closing, Mr. Pitcher acknowledges the donors who have provided funds for students to attend camp at no cost – a blessing he describes as, “Huge!” Donors provided online math lessons and activity books during lockdown to ensure that school-aged children could continue honing those math skills that may have otherwise been lost. 

Planet Math is all about recovering what is lost, and taking that next step toward freedom – a highly valued commodity for those who keep their eyes on the prize! 

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The Legacy of the Black Lives Matter March https://www.rgmags.com/2024/02/the-legacy-of-the-back-lives-matter-march/ https://www.rgmags.com/2024/02/the-legacy-of-the-back-lives-matter-march/#respond Mon, 19 Feb 2024 17:23:21 +0000 https://www.rgmags.com/?p=14491 by Donna Janda In the wake of global social justice movements, Bermuda has witnessed its own wave of change, particularly following the Black Lives Matter (BLM) March. This pivotal event not only marked a significant moment in the island’s history, but also set the stage for a deeper exploration of racial equity and restorative practices.  [...]

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by Donna Janda

In the wake of global social justice movements, Bermuda has witnessed its own wave of change, particularly following the Black Lives Matter (BLM) March. This pivotal event not only marked a significant moment in the island’s history, but also set the stage for a deeper exploration of racial equity and restorative practices. 

The BLM March in Bermuda: A Catalyst for Change 

The BLM March in Bermuda, ignited by the tragic murder of George Floyd in the USA, was a monumental event. It drew one of the biggest crowds Bermuda has experienced during a march – highlighting the island’s solidarity with global movements against racial injustice. 

However, as Cordell Riley points out, the event’s aftermath raises questions about the sustainability of such movements. He noted the irony of witnessing white participants chanting against white supremacy, wondering whether these sentiments were lasting feelings, or a momentary lapse. 

Stacey-Lee Williams, who also attended the march, expressed a sense of pride in seeing the community, including students and faculty from the school where she was working, come together in solidarity with the black Bermudians who were marching for a better Bermuda. She emphasized that while the march brought attention to racial issues, the challenge lay in sustaining this progress – a task CURB has been committed to for almost twenty years. 

Integrating Dialogue with Action Post-March 

The dynamic energy of the BLM March brought attention to racial injustice, but it also highlighted a vital truth: real change requires more than just chanting and marching. Real change demands continued dialogue and action, a principle that CURB embodies through its commitment to Restorative Practice. 

The conversation must be ongoing, and engage all relevant parties; and listening is just as essential as speaking. Ms Williams highlights the role of active listening in CURB’s Truth and Reconciliation Community Conversations (TRCC), which are fundamental in resolving racially charged situations. These talks, grounded in Restorative Practice, create an environment where diverse groups can engage in honest, transformative dialogues. It is a process that goes beyond the immediate energy of public demonstrations, focusing instead on sustained, meaningful interaction, and understanding. 

Mr Riley recounts CURB’s journey with Restorative Practice, beginning with their participation in a World Congress Symposium, and subsequent training at Queen’s University. These experiences reinforced their conviction that Bermuda, with its close-knit community and small population, is an ideal setting to demonstrate the effectiveness of Restorative Practice. 

In the aftermath of the BLM March, CURB’s role in fostering dialogue and understanding became even more crucial. Marches can spark awareness, but lasting change is nurtured through continued, in-depth conversations and collaborative actions. 

As Bermuda moves forward from the heightened awareness created by the BLM March, the need for racial justice organizations to work together with the community becomes increasingly clear. There is a need, a longing, for certain voices to be heard, and for others to be accepted. 

This approach ensures that the momentum from the march is not lost, but instead transformed into a sustained effort towards racial equality and justice. 

Thousands take to the streets for a peaceful Black Lives Matter march through the city of Hamilton (Photograph by Blaire Simmons)

Challenges and Opportunities in Integrating Restorative Practices 

Integrating Restorative Practice into movements like BLM presents unique challenges and opportunities. The primary challenge, as Mr. Riley and Ms. Williams note, is securing community buy-in, especially when confronting deep-seated anger and frustrations stemming from historical injustices. 

However, they see a significant opportunity for the conceptual purview of Restorative Practice to transform the short-term effects of organized protests into meaningful, sustainable, long-term change. 

CURB’s aspiration to transform Bermuda into a fully restorative country reflects their commitment to this cause, and their belief that Restorative Practice truly works. Many of CURB’s upcoming restorative-oriented events and initiatives focus on highlighting the impacts of social issues, like gang violence, through art and personal testimonies. These efforts aim to re-sensitize the community to these issues – while also actively unravelling the crippling desensitization that Bermuda has suffered from – and propel them into action. 

Sustaining the Momentum Beyond the March 

The BLM March marked a profound moment in Bermuda’s fight for racial justice. It rallied the community, sparking vital conversations and heightened awareness about entrenched racial injustices. However, the apparent dormancy of the BLM Bermuda movement underscores a critical challenge in social justice efforts: ensuring continuity and long-term impact. 

While the march was successful in mobilizing Bermudians around an essential cause, the real test lies in maintaining this momentum. This is where racial justice organizations step in, playing a pivotal role in continuing the work initiated by the march. The fleeting presence of proletarian organizations like BLM Bermuda, and the Free Democratic Movement (FDM) is frustratingly indicative of a common hurdle in grassroots activism: sustaining the drive for change and translating immediate reactions into lasting reforms. 

To be fair, the legacy of the BLM March has transcended a single day of solidarity. It has kindled a continuing journey towards racial justice, with social justice organizations ensuring that the conversation not only persists, but also moves toward systemic change that will make lasting, real-world impact. 

The BLM March may have concluded, but the path towards a restorative Bermuda, where equality and justice are not just ideals, but realities, continues. Topics like the reparations debate, social injustice, the glass ceiling, the existence of ‘two Bermudas,’ white privilege, and much more that were once taboo within these shores can be openly broached now – and that is due in no small part to monumental events like the BLM March. 

This journey is, therefore, emblematic of a broader movement, echoing the call for continuous action in the pursuit of racial equality. So, while the march is now a note in history, its ripples will continue to echo into a new Bermudian reality. 

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Belonging at Bacardi: Fostering Racial Equity and Community Empowerment in Bermuda https://www.rgmags.com/2024/02/belonging-at-bacardi-fostering-racial-equity-and-community-empowerment-in-bermuda/ https://www.rgmags.com/2024/02/belonging-at-bacardi-fostering-racial-equity-and-community-empowerment-in-bermuda/#respond Mon, 19 Feb 2024 17:19:02 +0000 https://www.rgmags.com/?p=14488 Bacardi, the world’s largest privately held international spirits company, is proudly celebrating Black History Month and reflecting on the impactful initiatives that aim to uplift its people and communities. Empowering individuals for future success is among the key pillars of the company’s Belonging program, which strives to create a space where everyone is treated fairly [...]

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Bacardi, the world’s largest privately held international spirits company, is proudly celebrating Black History Month and reflecting on the impactful initiatives that aim to uplift its people and communities. Empowering individuals for future success is among the key pillars of the company’s Belonging program, which strives to create a space where everyone is treated fairly and provided equal opportunities. Through its Belonging program, Bacardi has become a beacon of change, championing diversity, and creating meaningful opportunities for marginalized groups.

In Bermuda, the journey towards fostering an inclusive community began with strategic partnerships and initiatives. Central to this journey is the transformative Bacardi Shake Your Future Program. Launched in collaboration with the Bermuda Government’s Department of Workforce Development in February 2023, this groundbreaking initiative underscores the company’s global commitment to social responsibility. Originally conceived in 2018, Shake Your Future has seen successful launches in Italy, France, India, South Africa, and other countries, playing a pivotal role in providing vital training and career opportunities in the hospitality sector to unemployed young adults.

The program’s expansion into Bermuda, is a testament to the long-term vision of fostering local talent and championing the next wave of hospitality leaders. The program not only equips participants with essential skills and knowledge but also emboldens them to embark on transformative career paths in the hospitality industry, shaping a brighter future for Bermuda. 

Furthermore, the Bacardi partnership with Citizens Uprooting Racism in Bermuda (CURB) has been a game-changer. The hiring of CURB’s first Strategic & Policy Consultant is a leap forward in the collective mission to uproot racism and promote social justice in Bermuda. Through support from Bacardi, CURB has been able to redesign their approach with new programs that have increased their capacity, spheres of influence, and fundraising success.

Internally, Bacardi has been proactive in educating and engaging its staff on racial justice issues. Bacardi employees have participated in CURB’s corporate training, and many have completed advanced training in restorative practices, fostering healing and addressing these critical issues in Bermudian society.

Each year, the Black Vendors’ Market, hosted at the Global Headquarters of Bacardi, brings entrepreneurial spirit and creativity to the forefront, offering a vital platform for small black-owned businesses to connect with new audiences. This initiative not only amplifies their presence but also drives economic growth by connecting them with a larger customer base. 

These efforts in promoting racial justice and belonging have garnered significant recognition. In October 2023, Bacardi received the Dr. Eva Naomi Hodgson Racial Justice Award, a celebration of the Company’s dedication to racial equity and justice. This accolade stands as a testament to the unwavering commitment to foster an inclusive society where every individual feels valued and empowered.

As Bacardi continues its journey, the company remains dedicated to education, dialogue, and awareness in racial justice. This commitment is not just about one-off initiatives; it’s a sustained effort to drive change and foster a culture of belonging for all. Through its actions, Bacardi sets a benchmark for other businesses, showcasing how corporate responsibility can be seamlessly integrated with community upliftment and social equity. 

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Making Connections Through Time https://www.rgmags.com/2024/02/making-connections-through-time/ https://www.rgmags.com/2024/02/making-connections-through-time/#respond Mon, 19 Feb 2024 17:09:27 +0000 https://www.rgmags.com/?p=14481 by René Hill  Bermudian Historian, Dr Kristy Warren, first came across merchant marine Charles Wotten through Dr Gemma Romain, author of Connecting Histories.  As part of Dr Romain’s PhD, she looked at the 1919 racist riots in England, which broke out in port cities such as London, Cardiff, and Liverpool, and mostly targeted black people.  In [...]

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by René Hill 

Bermudian Historian, Dr Kristy Warren, first came across merchant marine Charles Wotten through Dr Gemma Romain, author of Connecting Histories. 

As part of Dr Romain’s PhD, she looked at the 1919 racist riots in England, which broke out in port cities such as London, Cardiff, and Liverpool, and mostly targeted black people. 

In 2018, upon closer examination of the riots, Dr Warren learned that one of the victims of the 1919 racist uprisings was a Bermudian. Charles Wotten, who had served in the Merchant Navy during the First World War, was stoned to death during the riots – as Police watched! 

Finding this story too compelling to ignore, Dr Warren pursued a research grant so she could delve into the case further. She soon secured the British Academy Leverhulme Small Research Grant, which enabled her to hire two Bermudian researchers, Chynna Trott, Curatorial Assistant of the National Museum of Bermuda, and Jaylen Simons, a King’s College student at the time (and currently at Cambridge). 

Dr Warren had initially planned to write something modest about Mr Wotten, but soon discovered that the Charles Wootton College of Further Education opened in Liverpool in the 1970s, and the school put an engraved headstone on his previously unmarked grave in 1989. Also, in 2016, a plaque was erected on the Liverpool dock where Charles was killed as he was trying to get out of the water in 1919. 

Through the Bermuda archives, Dr Warren learned that the surname, ‘Wotten’ was no longer present on the Island. Records of Mr Wotten’s parents, siblings, and descendants did exist though; as did a birth registration, and ships’ logs that he traveled on – which she found in various other archives outside Bermuda. 

“A lot of our work is about reclaiming and thinking about black lives that often don’t get acknowledged for a range of reasons,” she said. “The coroner wasn’t interested in his life. So, we have this really horrible moment in history, and it’s something that happened to a Bermudian. 

“I wanted to know who he was, as a counter to this idea that his life was disposable – wasn’t worth anything to these people. That’s what horrified me.” 

Of course, the records are never 100% complete – even in the national archives. 

“This was a working-class black man at the turn of the 20th century,” she said. “There’s a tranche of records that we would have been able to use, but it’s spread across three different countries, so we’ve had to triangulate records, piece together what we can – and it’s still only partial!” 

Having found what they could on Mr Wotten, Dr. Warren and her team continued to explore turn-of-the-century Bermudian merchant mariners – but information was scarce. 

Reverend John William Deshield, who was born in the 1860s and died in the 1960s, provided the only testimony on being a sailor that could be found – in an article published in The Recorder to commemorate him turning 100. The article was shared with Dr Warren by Mr Deshield’s granddaughter, Sharon Swan. 

“It’s only a paragraph or two, but that’s so much more than we have for most people,” Dr Warren reflects. 

“This thing about trying to trace people across space and time – that’s my thing,” Dr Warren asserts. “Different types of people, different time periods, and thinking about – not just how we’re related by blood, but how these experiences as Bermudians unite us. 

“These men are part of all of our history. They’re the people that have gone quietly through their lives, making sure that goods reach us, making sure their families stay fed. I’d like them to be centered. I do lots of different types of histories, but this has been an amazing way to think about how connected our histories are.” 

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Beyond Black History Month https://www.rgmags.com/2024/02/beyond-black-history-month/ https://www.rgmags.com/2024/02/beyond-black-history-month/#respond Mon, 19 Feb 2024 16:56:38 +0000 https://www.rgmags.com/?p=14472 by Donna Janda As we delve into the complexities of racial advocacy and history in Bermuda, the onset of Black History Month brings a pertinent issue to the forefront. Stacey-Lee Williams, Executive Director of Citizens Uprooting Racism in Bermuda (CURB) offers valuable insights into the traditional approach to this observance. Her perspectives shed light on [...]

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by Donna Janda

As we delve into the complexities of racial advocacy and history in Bermuda, the onset of Black History Month brings a pertinent issue to the forefront. Stacey-Lee Williams, Executive Director of Citizens Uprooting Racism in Bermuda (CURB) offers valuable insights into the traditional approach to this observance. Her perspectives shed light on the broader implications of how Black history is integrated into our collective consciousness, challenging the status quo and urging a more inclusive approach.

CURB Executive Director Stacey-Lee Williams

While acknowledging the increased attention towards Black history and CURB’s role during February, Ms Williams points out an underlying issue: the ‘othering’ of Black history. She states that this seasonal focus inadvertently isolates Black history, treating it as separate from the broader historical narrative.

Conversely, Ms Williams advocates for a more continuous and integrated approach, where Black history is recognized as an essential and inseparable part of Bermuda’s history throughout the entire year.

The Genesis and Evolution of CURB

In the effort to weave Black history into Bermuda’s broader narrative, organizations like CURB have played a crucial role. CURB’s evolution from a discussion group to a prominent voice in racial advocacy occurred during a time in Bermuda’s history that was characterized by an acute awareness of racial disparities. Initially established from race-focused discussions, CURB was primarily led by white individuals dedicated to fighting racism. This initial stage of development saw significant progress in 1995, when CURB received a government grant to enhance their initiatives, marking a pivotal moment in their journey towards racial advocacy.

Former CURB President Cordell Riley (Photo by Akil Simmons)

Former President Cordell Riley recalls that the early years focused on raising awareness through seminars and workshops in collaboration with organizations like the Commission on Unity and Racial Equality (CURE). However, the dissolution of CURE in 2010, and its absorption into the Human Rights Commission, was seen by CURB as a dilution of focused efforts on racism. In response, CURB launched its racial justice platform, advocating for systemic changes that transcended mere acknowledgment, and sought tangible actions.

The Shift in Leadership Dynamics

Over time, CURB experienced a significant shift in its leadership. The organization, initially led by white activists, gradually saw an increase in Black leadership. This shift was reflective of a broader understanding, within CURB, of the different experiences between white and Black activists in the fight against racism. Mr Riley explains that while white activists could afford to step back from racial activism, Black individuals lived with the constant repercussions of racism, making their involvement a relentless – and personal – battle.

By 2012, this transformation within CURB was clearly evident, with the organization transitioning from about 60% white-led to predominantly Black-led. This change was more than a shift in demographics; it represented a deeper understanding and commitment to addressing racism from those most affected by it. Mr Riley notes that steadfast allies among the white community continue to support CURB, however, participation tends to fluctuate.

Impact of Global Events and Funding Challenges

CURB received a significant grant from Atlantic Philanthropies, recounted Mr Riley. This support enabled CURB to focus on leadership development and professional training, enhancing their capacity to effect change. However, funding in general had been a challenge until the global response to George Floyd’s death, and the subsequent Black Lives Matter movement. This period saw an unprecedented increase in awareness and financial support for CURB’s initiatives. Corporations, previously less engaged with CURB’s work, began to contribute financially, allowing CURB to expand its reach and offerings – including workshops and community engagement initiatives.

Ms Williams stated that sustaining this funding momentum has been challenging. As initial public interest waned, so did the peak in funding, prompting CURB to concentrate on maintaining donor relationships and adapt its focus to more internally-driven initiatives, such as restorative practices in schools and workplaces, to continue its impactful work.

Reflections of Hope

CURB’s work in recent times, while impactful, has often been conducted ‘under the radar’ – focusing on restorative practices and behind-the-scenes initiatives. Mr Riley stated that this approach, effective in addressing issues directly, led to a public perception that CURB might be less active than in previous years, when they are actually busier than ever.

Reflecting on CURB’s journey, Mr Riley shares a sense of cautious optimism. The organization has witnessed gradual, but significant, shifts in attitudes toward racial issues in Bermuda. The increased understanding and willingness to engage in difficult conversations across racial lines gives hope for a future where racial equality is not just an ideal, but a lived reality.

Despite the reluctance to engage publicly in discussions, Mr Riley reports that many in the white community privately express support for CURB’s work. This private support, while encouraging, also highlights the ongoing challenges of public advocacy against racism in Bermuda. The persistence of negative and racist comments in public forums serves as a reminder of the work that remains. Mr Riley calls for all to amplify voices that advocate for understanding, equality, and respect, which is crucial in counteracting the negative impact of these comments.

Current Focus and Future Aspirations

Looking ahead, CURB sets its sights on an ambitious – yet paradoxical – goal: making itself unnecessary. Ms Williams, Mr Riley, and the rest of the organization are working towards a future where CURB’s efforts are so successful that Bermudians can independently handle racial issues. They envision a Bermuda where racial equality is so deeply embedded in the fabric of society that every individual is empowered to actively combat racism. Their goal is to educate and inspire Bermudians across all sectors, fostering a community that can resolve racial matters independently. In this envisioned future, leaders will confidently and publicly stand against racial injustices, embodying the lessons CURB has imparted. Thus, the ultimate triumph for CURB lies in achieving a Bermuda where its existence is no longer necessary – a testament to a truly harmonious and racially aware society.

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World Social Media: X and Threads are born and AI gets personal https://www.rgmags.com/2024/01/world-social-media-x-and-threads-are-born-and-ai-gets-personal/ https://www.rgmags.com/2024/01/world-social-media-x-and-threads-are-born-and-ai-gets-personal/#respond Tue, 09 Jan 2024 15:24:30 +0000 https://www.rgmags.com/?p=14093 Barbara Ortutay AP Technology Writer  We lost Twitter and got X. We tried out Bluesky and Mastodon — well, some of us did. We fretted about AI bots and teen mental health. We cocooned in private chats and scrolled endlessly as we did in years past. For social-media users, 2023 was a year of beginnings [...]

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Barbara Ortutay AP Technology Writer 

We lost Twitter and got X. We tried out Bluesky and Mastodon — well, some of us did. We fretted about AI bots and teen mental health. We cocooned in private chats and scrolled endlessly as we did in years past. For social-media users, 2023 was a year of beginnings and endings, with some soul-searching in between. 

Here’s a look back some of the biggest stories in social media in 2023 — and what to watch for next year: 

GOODBYE TWITTER 

A little more than a year ago, Elon Musk walked into Twitter ‘s San Francisco headquarters, fired its chief executive and other top executives and began transforming the social-media platform into what’s now known as X. 

Musk revealed the X logo in July. It quickly replaced Twitter’s name and its whimsical bluebird icon, online and on the company’s San Francisco headquarters. 

“And soon we shall bid adieu to the Twitter brand and, gradually, all the birds,” Musk posted on the site. 

Because of its public nature and because it attracted public figures, journalists and other high-profile users, Twitter always had an outsized influence on popular culture — but that influence seems to be waning. 

“It had a lot of problems even before Musk took it over, but it was beloved brand with a clear role in the social-media landscape,” said Jasmine Enberg, a social-media analyst at Insider Intelligence. “There are still moments of Twitter magic on the platform, like when journalists took the platform to post real-time updates about the OpenAI drama, and the smaller communities on the platform remain important to many users. But the Twitter of the past 17 years is largely gone, and X’s reason for existence is murky.” 

Since Musk’s takeover, X has been bombarded by allegations of misinformation and racism, endured significant advertising losses and suffered declines in usage. It didn’t help when Musk went on an expletive-ridden rant in an onstage interview about companies that had halted spending on X. Musk asserted that advertisers that pulled out were engaging in “blackmail” and, using a profanity, essentially told them to get lost. 

Continuing the trend of welcoming back users who had been banned by the former Twitter for hate speech or spreading misinformation, in December, Musk restored the X account of conspiracy theorist Alex Jones, pointing to an unscientific poll he posted to his followers that came out in favour of the Infowars host who repeatedly called the 2012 Sandy Hook school shooting a hoax. 

LGBTQ+ and other organisations supporting marginalised groups, meanwhile, have been raising alarms about X becoming less safe. In April, for instance, it quietly removed a policy against the “targeted misgendering or deadnaming of transgender individuals”. In June, the advocacy group GLAAD called it “the most dangerous platform for LGBTQ+ people”. 

GLSEN, an LGBTQ+ education group, announced in December that it was leaving X, joining other groups such as the suicide prevention non-profit Trevor Project, saying that Musk’s changes “have birthed a new platform that enables its users to harass and target the LGBTQ+ community without restriction or discipline”. 

HELLO X. AND THREADS. AND BLUESKY 

Musk’s ambitions for X include transforming the platform into an “everything app” — like China’s WeChat, for instance. The problem? It’s not clear if US and Western audiences are keen on the idea. And Musk himself has been pretty vague on the specifics. 

While X contends with an identity crisis, some users began looking for a replacement. Mastodon was one contender, along with Bluesky, which actually grew out of Twitter — a pet project of former CEO Jack Dorsey, who still sits on its board of directors. 

When tens of thousands of people, many of them fed-up Twitter users, began signing up for the (still) invite-only Bluesky in the spring, the app had less than ten people working on it, said CEO Jay Graber recently. 

This meant “scrambling to keep everything working, keeping people online, scrambling to add features that we had on the road map”, she said. For weeks, the work was simply “scaling” — ensuring that the systems could handle the influx. 

“We had one person on the app for a while, which was very funny, and there were memes about Paul versus all of Twitter’s engineers,” she recalled. “I don’t think we hired a second app developer until after the crazy growth spurt.” 

Seeing an opportunity to lure in disgruntled Twitter users, Facebook parent Meta launched its own rival, Threads, in July. It soared to popularity as tens of millions began signing up — although keeping people on has been a bit of a challenge. Then, in December, Meta CEO Mark Zuckerberg announced in a surprise move that the company was testing interoperability — the idea championed by Mastodon, Bluesky and other decentralised social networks that people should be able to use their accounts on different platforms — kind of like your e-mail address or phone number. 

“Starting a test where posts from Threads accounts will be available on Mastodon and other services that use the ActivityPub protocol,” Zuckerberg posted on Threads in December. “Making Threads interoperable will give people more choice over how they interact and it will help content reach more people. I’m pretty optimistic about this.” 

MENTAL-HEALTH WORRIES 

Social media’s impact on children’s mental health hurtled towards a reckoning this year, with the US surgeon-general warning in May that there is not enough evidence to show that social media is safe for children and teens — and calling on tech companies, parents and caregivers to take “immediate action to protect kids now”. 

“We’re asking parents to manage a technology that’s rapidly evolving that fundamentally changes how their kids think about themselves, how they build friendships, how they experience the world — and technology, by the way, that prior generations never had to manage,” Vivek Murthy told The Associated Press. “And we’re putting all of that on the shoulders of parents, which is just simply not fair.” 

In October, dozens of US states sued Meta for harming young people and contributing to the youth mental-health crisis by knowingly and deliberately designing features on Instagram and Facebook that addict children to its platforms. 

In November, Arturo Béjar, a former engineering director at Meta, testified before a Senate sub-committee about social media and the teen mental-health crisis, hoping to shed light on how Meta executives, including Zuckerberg, knew about the harms Instagram was causing but chose not to make meaningful changes to address them. 

The testimony came amid a bipartisan push in Congress to adopt regulations aimed at protecting children online. In December, the Federal Trade Commission proposed sweeping changes to a decades-old law that regulates how online companies can track and advertise to children, including turning off targeted adverts to children under 13 by default and limiting push notifications. 

WHAT TO WATCH FOR IN ’24 

Your AI friends have arrived — but chatbots are just the beginning. Standing in a courtyard at his company’s Menlo Park, California headquarters, Zuckerberg said this autumn that Meta is “focused on building the future of human connection” — and painted a near-future where people interact with hologram versions of their friends or coworkers and with AI bots built to assist them. The company unveiled an army of AI bots — with celebrities such as Snoop Dogg and Paris Hilton lending their faces to play them — that social-media users can interact with. 

Next year, AI will be “integrated into virtually every corner of the platforms”, Enberg said. 

“Social apps will use AI to drive usage, ad performance and revenues, subscription sign-ups and commerce activity. AI will deepen both users’ and advertisers’ reliance and relationship with social media, but its implementation won’t be entirely smooth sailing as consumer and regulatory scrutiny will intensify,” she added. 

The analyst also sees subscriptions as an increasingly attractive revenue stream for some platforms. Inspired by Musk’s X, subscriptions “started as a way to diversify or boost revenues as social-ad businesses took a hit, but they have persisted and expanded even as the social-ad market has steadied itself.” 

With major elections coming up in the US and India among other countries, AI’s and social media’s role in misinformation will continue to be front and centre for social-media watchers. 

“We’re not prepared for this,” A.J. Nash, vice-president of intelligence at the cybersecurity firm ZeroFox, told the AP in May. “To me, the big leap forward is the audio and video capabilities that have emerged. When you can do that on a large scale, and distribute it on social platforms, well, it’s going to have a major impact.” 

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What They Said In 2023 https://www.rgmags.com/2024/01/what-they-said-in-2023/ https://www.rgmags.com/2024/01/what-they-said-in-2023/#respond Tue, 09 Jan 2024 15:22:38 +0000 https://www.rgmags.com/?p=14090 Laurie Kellman, Associated Press  To feel 2023 is to listen closely and think on the words of awe, dread, anger, disconnect, loss — and yes, love — that flowed from people directly involved in the world’s most recent turns of history.  WONDER  “I’m feeling the goose bumps, and it’s a very happy moment … You [...]

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Laurie Kellman, Associated Press 

To feel 2023 is to listen closely and think on the words of awe, dread, anger, disconnect, loss — and yes, love — that flowed from people directly involved in the world’s most recent turns of history. 

WONDER 

“I’m feeling the goose bumps, and it’s a very happy moment … You can see the energy. It’s beyond words.” 

Shrini Singh as she watched the live broadcast of Indian spacecraft Chandrayaan-3 landing on the lunar surface, making India only the fourth country to achieve this milestone. The successful landing showcasing India’s rising standing as a technology and space powerhouse sparked celebrations across India. Singh was speaking in New Delhi on August 23. 

EXASPERATION 

“We are here all together, all the world together, to combat climate change and, really, we’re negotiating for what? We’re negotiating for what in the middle of a genocide?” 

Hadeel Ikhmais, a climate-change expert with the Palestinian Authority, on December 1 during the COP28 talks in Dubai. The Israeli offensive had killed more than 18,700 Palestinians as of the weekend of December 16 and 17, the health ministry in the Hamas-run territory says.  

DISAPPOINTMENT 

“They told me that this country was different. But for me, it’s been hell.” 

Karina Obando, 38, a mother from Ecuador who has been given until January 5 to leave the former hotel in New York City where she has been staying with her two young children. She is one of thousands of migrant families in an emergency shelter system who has been ordered by the city to clear out, with winter setting in. Mayor Eric Adams says the order is necessary to relieve a shelter system overwhelmed by asylum seekers crossing the southern US border. 

PAIN 

“What is most painful is that years after the brutalities and the stealing of our land, British companies are still in possession of our ancestral homes, earning millions from their comfortable headquarters in the UK, while our people remain squatters.” 

Joel Kimutai Kimetto, 74, speaking to the AP in a phone interview during King Charles III’s visit to Kenya in October. Kimetto said his grandfather and father were kicked out of their ancestral home by the British. 

HOPE 

“God gave me a new lease on life.” 

Osama Abdel Hamid, weeping at a hospital in Idlib, Syria, after a 7.8-magnitude earthquake, the deadliest in decades, devastated his war-ravaged country and parts of Turkey on February 6. He said most of his neighbours died when their shared four-storey building collapsed. As he fled with his wife and three children, a wooden door fell on them, shielding them from falling debris.  

DISILLUSIONMENT 

“This is probably the most uniquely horrible choice I’ve had in my life.” 

Andrew Collins, 35, an independent from Windham, Maine, on the likely showdown in next year’s election between political foes, men who each have served one term as president, Republican Donald Trump and Democrat Joe Biden. Collins participated in a poll this month from The Associated Press-NORC Centre for Public Affairs Research, in which American voters made clear how less than jazzed they are about such a rematch in 2024. 

AWE 

“It is amazing to see this huge berg in person — it stretches as far as the eye can see.” 

Andrew Meijers, chief scientist on board the research ship RRS Sir David Attenborough, which crossed paths with the mega iceberg known as the A23a near Antarctica in early December. The iceberg is three times the size of New York City, or more than twice the size of Greater London. 

SHOCK 

“When they asked me to open my bra … I was shocked! But I couldn’t speak or refuse. When I tried to cover my breast with my hand, I was even scolded and yelled at…I was totally confused, nervous and humiliated, especially when I was told to lift my left leg on the chair.” 

Priskila Ribka Jelita, a 23-year-old model and a 2023 Miss Universe Indonesia contestant, describing her “body check” in an interview with The Associated Press on August 15 in Jakarta, Indonesia. 

APPRECIATION 

“There was silence and like a mist, as if it was dusk, but only a few minutes later the birds were singing again.” 

Carmen Jardines, 56, watching the “ring of fire” eclipse in October from Cancún, Mexico, on the dance of the moon and the sun cheered by millions across the Americas. 

INTENTION 

“I’m trying not to do anything that alienates anyone. But I can’t just not do the right thing because I’m scared.” 

Cydney Wallace, a Black Jewish community activist in Chicago, part of a growing number of Black Americans who see the Palestinian struggle in the West Bank and Gaza reflected in their own fight for racial equality and civil rights. The recent rise of protest movements against police brutality in the US, where structural racism plagues nearly every facet of life, has connected Black and Palestinian activists under a common cause. 

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Sport continues to be a catalyst for protest https://www.rgmags.com/2024/01/sport-continues-to-be-a-catalyst-for-protest/ https://www.rgmags.com/2024/01/sport-continues-to-be-a-catalyst-for-protest/#respond Tue, 09 Jan 2024 15:19:58 +0000 https://www.rgmags.com/?p=14087 Rohit Nair, Reuters  Sport and politics would ideally never mix but as the world becomes increasingly divided on societal issues, sporting platforms have turned into lightning rods for social activism.  Be it athletes or spectators, disobedience or disruption has been the order of the day as they attempt to transcend the boundaries of the arena [...]

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Rohit Nair, Reuters 

Sport and politics would ideally never mix but as the world becomes increasingly divided on societal issues, sporting platforms have turned into lightning rods for social activism. 

Be it athletes or spectators, disobedience or disruption has been the order of the day as they attempt to transcend the boundaries of the arena and convey their views to millions of people worldwide. 

When Colin Kaepernick took a knee during the US national anthem at NFL games to protest against racial injustice in 2016, little did he know the butterfly effect his deed would have as it sparked debates and polarised a country. 

But his gesture has since been embraced by top leagues around the world, none more so than England’s Premier League — European football’s most lucrative and popular competition. 

A spillover from the Black Lives Matter movement that began more than three years ago, the league’s players continue to fight discrimination by taking a knee before some games this season. 

“We are unified in our belief that any form of discrimination has no place within football or wider society,” the 20 Premier League captains said this year. 

“[We] are committed to using our platform to help celebrate diversity and show our support in the fight against racism.” 

The continued protests are, to a large extent, to do with rampant online abuse which rears its ugly head every week, with social-media platforms seemingly unable to stem the flow of unbridled rage and racist abuse that lands in players’ inboxes. 

Outside the arena, Olympic medal-winning wrestlers in India found out the hard way what lies in store for those who leverage their popularity to go up against a member of the ruling party after months of protests on the streets fell on deaf ears. 

India’s top wrestlers were detained by police in May when they intensified their protest demanding the arrest of their federation chief, Brij Bhushan Sharan Singh, over allegations of sexual harassment of female athletes, which he denied. 

As images of wrestlers being manhandled by police were beamed across the world, 2016 Olympic bronze medal-winner Sakshi Malik said: “This is how our champions are being treated. The world is watching us.” 

On the other hand, sporting platforms have also been a stage for spectators to amplify causes, and 2023 was no different in dividing viewers when activists disrupted big events from tennis grand slams to golf majors and cricket matches. 

Just Stop Oil protesters interrupted Wimbledon matches when they released orange ticker-tape on to the grasscourt surface, while the group also stopped play by scattering orange powder at an Ashes Test and the World Snooker Championship. 

Their controversial and disruptive tactics have been condemned by athletes and fans alike, but they also garnered sympathy from popular and outspoken football pundit Gary Lineker. 

“I completely understand where they’re coming from — disruptive protest is the only one that gets any publicity. I get it,” said Lineker, who presents BBC’s Match of the Day football highlights programme. 

“I also understand why people get so upset with it, particularly in sport. I think what is more important is probably our existence in the future rather than slight disruption of sporting events.” 

US Open tennis champion Coco Gauff, who has spoken out on various causes, also has no qualms about such protests, even though climate activists disrupted her semi-final at Flushing Meadows and one glued his feet to the stand’s concrete floor. 

“I think that moments like this are history-defining moments,” Gauff said. “If that’s what they felt they needed to do to get their voices heard, I can’t really get upset at it.” 

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World Business: From AI and inflation to Musk and Swift https://www.rgmags.com/2024/01/world-business-from-ai-and-inflation-to-musk-and-swift/ https://www.rgmags.com/2024/01/world-business-from-ai-and-inflation-to-musk-and-swift/#respond Tue, 09 Jan 2024 15:18:34 +0000 https://www.rgmags.com/?p=14084 Paul Wiseman, Ken Sweet – AP Business Writers  The tide turned against inflation.  Artificial intelligence went mainstream — for good or ill.  Labour unions capitalised on their growing might to win more generous pay and benefits.  Elon Musk renamed and rebranded the social-media platform Twitter, removed guardrails against phoney or obscene posts and ranted profanely [...]

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Paul Wiseman, Ken SweetAP Business Writers 

The tide turned against inflation. 

Artificial intelligence went mainstream — for good or ill. 

Labour unions capitalised on their growing might to win more generous pay and benefits. 

Elon Musk renamed and rebranded the social-media platform Twitter, removed guardrails against phoney or obscene posts and ranted profanely when advertisers fled in droves. 

The American housing market, straining under the weight of heavy mortgage rates, took a wallop. 

And Taylor Swift’s concert tour scaled such stratospheric heights that she invigorated some regional economies and drew a mention in Federal Reserve proceedings. 

A look back at ten top business stories in 2023: 

RAGING AGAINST INFLATION 

The Fed and most other major central banks spent most of the year deploying their interest-rate weapons against the worst bout of inflation in four decades. The trouble had erupted in 2021 and 2022 as the global economy roared out of the pandemic recession, triggering supply shortages and igniting prices. 

By the end of 2023, though, the Fed, the European Central Bank and the Bank of England had taken a breather. Their aggressive rate hikes had brought inflation way down from the peaks of 2022, when Russia’s invasion of Ukraine sent energy and grain prices rocketing and intensified price spikes. 

In the United States, the Fed’s policymakers delighted Wall Street investors by signalling in December that 2024 would likely be a year of rate cuts — three to be exact, in their expectations — and not rate hikes. The Bank of England and ECB sounded a more cautious note, suggesting that inflation, although trending down, remained above their target. 

“Should we lower our guard?” Christine Lagarde, the ECB president, told reporters. “We ask ourselves that question. No, we should absolutely not lower our guard.” 

The Council on Foreign Relations, which tracks interest rates in 54 countries, found that central banks turned aggressive towards inflation in the spring of 2022. Policies remain tight, the council found, but the overall anti-inflation stance has eased. 

AI GOES MAINSTREAM 

Artificial intelligence thrust itself into public consciousness this year. But the technology, while dazzling for its ability to retrieve information or produce readable prose, has yet to match people’s science-fiction fantasies of humanlike machines. 

Catalysing a year of AI fanfare was ChatGPT. The chatbot gave the world a glimpse of advances in computer science, even if not everyone learnt quite how it works or how to make the best use of it. 

Worries escalated as this new cohort of generative AI tools threatened the livelihoods of people who write, draw, strum or code for a living. AI’s ability to produce original content helped to fuel strikes by Hollywood writers and actors, and legal challenges from bestselling authors. 

By year’s end, the AI crises had shifted to ChatGPT’s own maker, OpenAI, which was nearly destroyed by corporate turmoil over its CEO, and to a meeting room in Belgium, where European Union leaders emerged after days of talks with a deal for the world’s first major AI legal safeguards. 

WORKERS SCORE GAINS 

The long-battered American labour movement flexed its muscle in 2023, taking advantage of widespread worker shortages to demand — and receive — significantly better pay and benefits. From Hollywood writers and actors to autoworkers to hotel workers, 510,000 labourers staged 393 strikes in the first 11 months of 2023, according to Cornell University’s Labour Action Tracker. 

Under its pugnacious new president, Shawn Fain, the United Auto Workers struck the Big Three automakers — Ford, General Motors and Stellantis, the parent of Chrysler, Jeep and Ram — and won pay raises, improved benefits and numerous other concessions. 

Hollywood writers and actors, as a result of their walkouts, secured higher pay and protection from the unrestricted use of artificial intelligence, among other concessions. 

The unions’ gains marked a resurgence for their workers after years following the Great Recession of 2007-09 when union power further dwindled, wage gains languished and employers seemed to have their pick of job candidates. An explosive economic rebound from the Covid-19 recession of 2020 and a wave of retirements left companies scrambling to find workers, and provided labour unions with renewed leverage 

Still, even now, unions remain a shadow of what they once were: as of last year, roughly 10 per cent of US employees belonged to labour unions, way down from 20 per cent in 1983. And back in the 1970s, the United States experienced an average of 500 strikes a year, involving two million workers, said Johnnie Kallas, a labour expert at Cornell. 

MUSK’S X-RATED TRANSFORMATION 

A little more than a year ago, Elon Musk walked into Twitter’s San Francisco headquarters, fired its CEO and other top executives and began transforming the social-media platform into what’s now known as X. 

Since then, the company has been bombarded by allegations of misinformation, endured significant advertising losses and suffered declines in usage. 

Disney, Comcast and other high-profile advertisers stopped spending on X after the liberal advocacy group Media Matters issued a report showing that their adverts were appearing alongside material praising Nazis. (X has sued the group, claiming it “manufactured” the report to “drive advertisers from the platform and destroy X Corp”.) 

The problems culminated when Musk went on an expletive-ridden rant in an onstage interview about companies that had halted spending on X. Musk asserted that advertisers that pulled out were engaging in “blackmail” and, using a profanity, essentially told them to get lost. 

“Don’t advertise,” X’s billionaire owner said. 

HOUSING’S MISERABLE YEAR 

Remarkably, the US economy and job market largely avoided pain in 2023 from the Fed’s relentless campaign against inflation — 11 interest-rate hikes since March 2022. 

Not so the housing market. 

As the Fed jacked up borrowing rates, the average 30-year fixed-rate mortgage rate shot up from 4.16 per cent in March 2022 to 7.79 per cent in October 2023. Home sales crumbled. For the first ten months of 2023, sales of previously occupied homes sank 20 per cent. 

Yet at the same time and despite the sales slump, home prices kept rising. The combination of high mortgage rates and rising prices made homeownership — or the prospect of trading up to another house — unaffordable for many. 

Contributing to the squeeze was a severe shortage of homes for sale. That, too, was a consequence of higher rates. Homeowners who were sitting on super-low mortgage rates didn’t want to sell their houses only to have to buy another and take on a new mortgage at a much higher rate. Mortgage giant Freddie Mac says 60 per cent of outstanding mortgages still have rates below 4 per cent; 90 per cent are below 6 per cent. 

CRYPTO CHAOS (CONTINUED) 

If 2022 was the year that the cryptocurrency industry collapsed, 2023 was the year of the spillover from that fall. 

The year’s headlines from crypto were dominated by convictions and legal settlements as Washington regulators adopted a much more aggressive stance towards the industry. 

A jury convicted Sam Bankman-Fried, the founder and former CEO of the crypto exchange FTX, of wire fraud and six other charges. Weeks later, the founder of Binance, Zhao Chengpeng, agreed to plead guilty to money-laundering charges as part of a settlement between US authorities and the exchange. Among the other crypto heavyweights that met legal trouble were Coinbase, Gemini and Genesis. 

Yet speculation that crypto may gain more legitimacy among investors helped more than double the price of bitcoin. After years of delays, regulators are eventually expected to approve a bitcoin exchange-traded fund. Whether that would prove sufficient to sustain bitcoin’s rally over the long run remains to be seen. 

BANKING JITTERS 

Historically, high interest rates benefit banks; they can charge more for their loans. But in 2023, higher rates ended up poisoning a handful of them. 

The industry endured a banking crisis on a scale not seen since 2008. Three mid-sized banks — Silicon Valley Bank, Signature Bank and First Republic Bank — collapsed. 

For years, banks had loaded up their balance sheets with high-quality mortgages and treasuries. In an era of ultra-low rates, those mortgages and bonds paid out puny interest. 

Enter the spectre of inflation and the Fed’s aggressive rate hikes. As rates jumped, the banks’ bonds tumbled in value because investors could now buy new bonds with much juicier yields. With pressure on the banks mounting, some anxious depositors withdrew their money. After one such bank run, Silicon Valley collapsed. Days later, Signature Bank failed. First Republic was seized and sold to JPMorgan Chase. 

Investors remain concerned about mid-sized institutions with similar business models. Trillions of dollars in commercial real estate loans that remain on these banks’ books could become problematic in 2024. 

GLOBAL MARKETS RALLY 

From Austria to New Zealand, stock markets rallied through 2023. As inflation eased, stocks climbed despite sluggish global economic growth. 

A tumble in crude-oil prices helped slow inflation. A barrel of Brent crude, the international standard, dropped 14 per cent through mid-December on expectations that the world has more than enough oil to meet demand. 

An index that spans nearly 3,000 stocks from 47 countries returned 18 per cent in US dollar terms as of December 11. Healthy gains for Apple, Nvidia and other US Big Tech stocks powered much of the gains. So did the 45 per cent return for the Danish pharmaceutical company Novo Nordisk, which sells the Wegovy drug to treat obesity and the 33 per cent return for the Dutch semiconductor company ASML. 

The bond market endured more turbulence. Bond prices tumbled for much of the year, and their yields rose, over uncertainty about how far central banks would go in raising rates to curb inflation. 

The yield on the ten-year US Treasury briefly topped 5 per cent in October to reach its highest level since 2007. Yields have since eased on the expectation that the Fed is done raising rates. 

World economy’s resilience 

Over the past three years, the global economy has absorbed one hit after another. A devastating pandemic. The disruption of energy and grain markets stemming from Russia’s invasion of Ukraine. A resurgence of inflation. Punishing interest rates. 

And yet economic output kept growing in 2023, if only modestly. Optimism grew about a “soft landing” — a scenario in which high rates tame inflation without causing a recession. The head of the International Monetary Fund praised the global economy for its “remarkable resilience’’. 

The United States has led the way. Defying predictions that high rates would trigger a US recession, the world’s largest economy has continued to grow. And employers, fuelled by solid consumer spending, have kept hiring at healthy rates. 

Still, the accumulated shocks are restraining growth. The IMF expects the global economy to expand just 2.9 per cent in 2024 from an expected 3 per cent this year. A significant concern is a weakened China, the world’s No 2 economy. Its growth is hobbled by the collapse of an overbuilt real estate market, sagging consumer confidence and high rates of youth unemployment. 

THE US ECONOMY (TAYLOR’S VERSION) 

Taylor Swift dominated popular culture, with her record-shattering $1 billion concert tour, her anointment as Time magazine’s Person of the Year and her high-profile romance with Travis Kelce, the Kansas City Chiefs NFL star. 

The Swift phenomenon went further yet. It extended into the realm of the national economy. Her name came up at a July news conference by Fed chair Jerome Powell, when Powell was asked whether Swift’s blockbuster ticket sales revealed anything about the state of the economy. Although Powell avoided a direct reply, Swift’s name came up that same month in a Fed review of regional economies: her tour was credited with boosting hotel bookings in Philadelphia. 

Economist Sarah Wolfe, of Morgan Stanley, has calculated that “Swifties” spent an average of $1,500 on airfares, hotel rooms and concert tickets to her shows — although it’s perhaps worth noting that Beyoncé fans spent even more; an average $1,800). 

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