DOGE's Next Target Set To Hand 401K Savers A Windfall?

Musk's Department of Government Efficiency has already uncovered $55B in waste--and Trump's backing his plan to return $2T in savings to taxpayers. But why wait? Unlock a legal Trump IRS loophole to protect & grow your wealth NOW!

Syria's economic pains far from over despite Assad's ouster

KAREEM CHEHAYEB
January 24, 2025

DAMASCUS, Syria (AP) -- Samir al-Baghdad grabbed his pickax and walked up a wobbly set of stairs made of cinderblocks and rubble.

He is rebuilding his destroyed family house in the Qaboun neighborhood near Damascus, Syria 's capital.

The traditional building, which once housed his family, parents and some relatives, had a courtyard decorated with plants and tiled floors where guests were received. But the house, like scores of others nearby, has been reduced to heaps of rubble during years of civil war.

Al-Baghdadi can't afford to hire workers or rent a bulldozer to clear the debris and fix the house. He makes just about enough money as a mechanic to feed his family. But he's desperate to rebuild it because he is struggling to pay skyrocketing rent for an apartment.

"Economic opportunities are basically nonexistent," al-Baghdadi said, sitting on a pile of rubble and debris where the house's entrance used to be. "So we're going to slowly rebuild with our own hands."

Although Syrian President Bashar Assad was toppled last month in a lightning insurgency, the country's dire economic conditions that protesters decried have not changed.

The economy has been battered by corruption and 13 years of civil war. Coupled with international sanctions and mismanagement, inflation skyrocketed, pulling some 90% of the country into poverty. Over half the population -- some 12 million people -- don't know where their next meal will come from, according to the U.N. World Food Program.

With no sign of a full-scale withdrawal of international sanctions and continuing caution among potential overseas investors, the honeymoon period for the country's new rulers could be short-lived.

Qaboun, just a stone's throw away from the city center, and other eastern Damascus neighborhoods became rebel strongholds in 2012, when the country's mass protests against Assad spiraled into all-out war.

It suffered government airstrikes and artillery fire, and at one point Islamic State group extremists. In 2017, government forces reclaimed the neighborhood, but when al-Baghdadi tried to return in 2020, security forces kicked him out and forced him to sign a pledge to never return, saying it was a security zone that was off limits.

After Assad's fall, al-Baghdadi was finally able to return. Like many, he was euphoric and hoped it would pave the way for better times despite the many challenges that lay ahead, including rampant power cuts and fuel shortages.

For years, Syrian families have relied on humanitarian aid and remittances from family members living abroad to survive. On top of the gargantuan costs of rebuilding the country's destroyed electricity, water and road infrastructure, money is needed to restore its battered agriculture and industrial sectors to make its hobbled economy productive again.

The United Nations in 2017 estimated that it would cost at least $250 billion to rebuild Syria. Some experts now say that number could reach at least $400 billion.

Wealthy Gulf countries have pledged to build economic partnerships with Syria's new interim rulers, while Washington has eased some restrictions without fully lifting its sanctions. The U.S. Treasury Department issued a six-month license authorizing some transactions with Syria's interim government. While it includes some energy sales, Syrians say it isn't enough.

Sinan Hatahet, an economic researcher at the Washington-based Atlantic Council think tank, said the U.S. actions were the "bare minimum" needed to show good faith to Damascus and aren't enough to help Syria jumpstart its economy.

"It doesn't help the private sector to engage," Hatahet said. "The restrictions on trade, the restrictions on reconstruction, on rebuilding the infrastructure are still there."

While countries are hesitant to make more impactful decisions as they hope for a peaceful political transition, many Syrians say the economy can't wait.

"Without jobs, without huge flows of money and investments ... these families have no way of making ends meet," Hatahet said.

The executive director of the World Food Program echoed similar sentiments, warning Syria's neighbors that its food and economic crisis is also a crisis of security.

"Hunger does not breed good will," Cindy McCain said in an interview during her first visit to Damascus.

In the Syrian capital's bustling old marketplace, crowds of people pack the narrow passageways as the country's new de facto flag is draped over the crowded stalls. Merchants say the atmosphere is pleasant and celebratory, but nobody is buying anything.

People stop to smell the aromatic and colorful spices or pose for photos next to masked fighters from the ruling Hayat Tahrir al-Sham group guarding the market's entrances.

"We're very happy with our liberation, thank God, but there are few jobs," said Walid Naoura, who works with his father at a clothing shop. "Yes, we've been relieved of thuggery and oppression, but all these people here have come to celebrate but not to buy anything because things are expensive."

Nearby, Abou Samir, a carpenter, saws a piece of wood as he assembles a chest of drawers. There is no electricity to power his machinery, so he's doing it by hand.

"I'm working at a loss ... and you can't make larger workshops work because there is no electricity," he said.

His sons live abroad and send money to help him get by, but he refuses to stop his carpentry work which has been his livelihood for 50 years.

In Qaboun, al-Baghdadi sips tea on a makeshift porch overlooking his neighborhood, which has turned into empty plots and a gathering point for local buses and minivans. It was a successful day because he managed to connect an electric cable to power a single light bulb -- but part of his roof collapsed.

He still hasn't been able to secure running water but hopes that he and his family can move into the house with its many memories before summer, even if it is far from completion because of his financial situation.

"I prefer that to living in a palace elsewhere," al-Baghdadi said.

Continue Reading...

Popular

Senate confirms Mehmet Oz to take lead of Medicare and Medicaid agency

WASHINGTON (AP) — Former heart surgeon and TV pitchman was confirmed Thursday to lead the Centers for Medicare and Medicaid Services.

US energy department invites AI data center development at Los Alamos and other federal lands

The U.S. Department of Energy said it has identified , including storied nuclear research laboratories such as Los Alamos, where tech companies could build data centers in a push to accelerate commercial development of artificial intelligence technology.

Microsoft, Amazon, and OpenAI Pour Billions Into Breakthrough Tech - Ad

We're heading into the biggest energy crisis we've ever faced. The computational power needed for AI models is DOUBLING every six months...That's why tech companies are investing BILLIONS into an AI "Master Key" technology that's crucial for the advancement of AI...And there's one pioneering company at the forefront of its development.

Trump's tariffs aren't strictly reciprocal. Here's how he calculated them

WASHINGTON (AP) — President promised that would raise high enough to mirror what other assess as trade penalties on American goods.

Bitcoin, Ethereum, XRP Down Since The Start Of 2025: Would A President Harris Have Been Better For Crypto?

Cryptocurrency traders on social media are debating whether a hypothetical Harris presidency may have been a better long-term outcome for the sector, given the poor performance of cryptocurrencies since President Trump took offic

Trump's Crypto Boom: The Hidden Opportunity in Today's Dip - Ad

Few realize Trump is systematically engineering a massive wealth transfer through crypto. His team is dismantling barriers, creating a national reserve, and setting the stage for an unprecedented bull run. This temporary price dip is the perfect entry window.

Tesla Leveraged ETFs Hit A Death Cross: Is A Short Squeeze Next For TSLL, TSLR?

Tesla stock's wild ride in 2024 has been painful for its leveraged ETFs, and now, the charts are flashing a classic technical red flag.

FDA Delays Full Approval Decision On Novavax's COVID-19 Vaccine (UPDATED)

Novavax's COVID-19 vaccine received FDA Emergency Use Authorization, but full approval faces delays as regulators request more data beyond the April 1 deadline.

The DOGE Shock: Nine Stocks to Buy - Ad

They say that DOGE's real agenda could shock the entire stock market in the coming days - sending a handful of widely unknown stocks soaring. And they've compiled the definitive investment playbook for anyone who wants the opportunity to capitalize.

A Senate vote to reverse Trump's tariffs on Canada is testing Republican support

WASHINGTON (AP) — With President Donald Trump's so-called fast approaching, Senate Democrats are putting Republican support for some of those plans to the test by forcing a vote to nullify the emergency declaration that underpins the tariffs on Canada.

France 'deeply shocked' by US demand to drop diversity initiatives

PARIS (AP) — France's minister for foreign trade says the country won't compromise after the U.S. State Department reportedly demanded that French companies drop

No.1 Opportunity for 2025 [Take Action Now!] - Ad

Starlink's potential IPO Could Be the Biggest in History--Silicon Valley insider James Altucher has uncovered a way to profit BEFORE the IPO--with as little as $50. Musk's $180B giant is set to launch--will you miss out? Claim your spot before it's too late.

Elon Musk Attacks Netflix Hit Series, Shares 'Anti-White Propaganda' Allegation: Here's How The Show's Writer Claps Back

One of Netflix's biggest hits in 2025 has been attacked for its use of race. One of the show's co-writers spoke out about the allegations, which were amplified by Elon Musk.

MrBeast Reveals What He'd Fix at Meta If He Were CEO - And Zuckerberg Agreed

In a recent interaction with Meta CEO Mark Zuckerberg, YouTube star MrBeast proposed ways to enhance Meta's multilingual content reach.

Gold Prices Are Skyrocketing - Is This the Moment? - Ad

With analysts forecasting gold at $4,000 per ounce, a new exploration company may be perfectly positioned.

CEO of fast-fashion brand Primark steps down after allegations of bad behavior in social situation

LONDON (AP) — The chief executive of Primark, one of Europe’s biggest fast fashion retailers, has resigned after an investigation into his behavior toward a woman in a social environment.

Jeff Bezos Quietly Backing World-Changing Tech (Not AI) - Ad

The Amazon founder is quietly advancing a radical technology that could change society forever and make early investors rich.

As war draws men to fight, Ukraine's women take tough new jobs in machinery and mines

DNIPROPETROVSK REGION, Ukraine (AP) — Kateryna Koliadiuk was curious. The 19-year-old Ukrainian agronomy student spotted an ad seeking women to enroll in a tractor driving course and decided to try. But the industrial vehicle was huge and complex, and she wasn’t sure she could operate it.

Us Businessman Appeals to Trump After Russia Seizes His $200 Million Food Empire

American entrepreneur Leonid Smirnov has sought intervention in the Russian seizure of his $200 million canned food business, Glavprodukt.

One Coin to Rule Them All... - Ad

Hardly any investors are talking about this coin but I believe that's about to change with some potentially huge news! Get in on the ground floor while it's rock bottom with this new how-to guide, just $3.

Hong Kong's richest man, Li Ka-shing, is in hot water over his company's Panama Ports deal

HONG KONG (AP) — Hong Kong tycoon Li Ka-shing’s business empire is in the after CK Hutchison Holdings chose to sell its Panama Canal to a consortium that includes U.S. investment firm BlackRock Inc., apparently angering Beijing.

Is US Taking Cues From Argentina's Bold Reforms That Sparked A Market Rally?

Argentina's fiscal reforms helped curb inflation and ignite a market rally, Could the U.S. be on a same path under D.O.G.E. and Trump?

Buffett's $29B Oil Bet--Here's How to Earn 22% Yields Monthly - Ad

Buffett is loading up on oil stocks--10% of his portfolio is now in energy. But while he earns modest dividends, we've found an ETF yielding 22% annually with monthly payouts! Get the full details now--before the next oil surge!

Amazon Stock's Recent Pullback Offers 'Unique Opportunity': Analyst

Amazon shares are down 9% over the last month, but WestPark Capital analyst Curtis Shauger sees a buying opportunity in the stock's recent pullback. 

New "Trump" Currency Proposed in DC - Ad

A new Executive Order could unlock a $150 trillion hidden asset--and spark a historic boom in one overlooked corner of the market. Jim Rickards reveals the full story--before it hits front-page news. Watch now before it's too late!

Amtrak CEO abruptly resigns from the nation's passenger railroad

NEW YORK (AP) — Amtrak CEO Stephen Gardner abruptly resigned from his top post at the U.S. passenger railroad this week.

Canada's oldest company to liquidate all but 6 stores starting Monday

TORONTO (AP) — An Ontario court on Friday gave Hudson’s Bay, Canada’s oldest company, permission to start liquidating all but six of its stores on Monday.

Elite Investors Are Buying This Dip Like Crazy - Ad

While everyday investors panic, billionaires are quietly accumulating crypto at these "artificially suppressed" prices. They know Trump's pro-crypto policies and institutional adoption are creating a coiled spring ready to explode upward once uncertainty clears. History shows these fear moments create the biggest fortunes.

Johnson & Johnson's Golden Cross: Technical Momentum Meets Groundbreaking Lung Cancer Breakthrough

JNJ stock hits Golden Cross, signaling potential long-term upside. Latest breakthrough in lung cancer treatment could provide additional catalyst.

10 IRA mistakes to avoid

From contributions to conversions to distributions, don’t fall into these traps when managing your IRA.

U.S. Gov't Backs Small Firm Solving the AI Energy Crisis - Ad

The AI sector's explosive growth is setting us on a collision course where a single company's energy needs could rival those of entire nations. But ONE company holds the key to preventing this crisis...With a breakthrough tech designed to fulfill the surging power needs of our AI-driven future. Its shares are currently selling for just a few dollars.

Apple Labor Cases Frozen By NLRB After Trump Nominates Company's Attorney As General Counsel: Report

The National Labor Relations Board has frozen two cases against Apple Inc. days after President Donald Trump nominated Crystal Carey, an attorney representing the tech giant, to be the agency's general counsel.

Trump's Next Move - Ad

First it was MAGA, then MAHA, now MARA. New video reveals what Trump's greatest plan yet. Presidential insider exposes shocking plot to reshape U.S. economy.

Europe and Canada are eyeing alternatives to American-made fighter jets. Here's why

BERLIN (AP) — Questions are mounting in Canada and in Europe over whether big-ticket purchases of high-end U.S. weaponry, such as the F-35 Joint Strike Fighter, are still a wise strategic choice for Western countries worried about their investment in U.S. defense technology.

Edmunds small sedan test: 2025 Honda Civic vs. Kia K4

When budgets are tight, it’s hard to beat a small sedan for value. Better yet, the modern models in the class are stylish, roomy and technologically advanced. The is one of the most popular models on sale, and it faces new competition from the , which replaces the previous Forte in that automaker’s lineup. How well does the K4 stack up? Edmunds compared the new K4 with the benchmark Civic to find out.

Trump's Exec Order #14154 Could Be a "Millionaire-Maker" - Ad

Trump's next move could cement his legacy--and trigger a historic wealth boom. Ex-presidential advisor Jim Rickards reveals how it could hand millions a shot at true financial freedom. Watch the urgent interview while it's still free.

Financial Crime Weekly: Toyota Subsidiary To Pay Over $1.6 Billion For Emissions Fraud Scheme

Toyota subsidiary, Hino Motors, ordered to pay more than $1.6 billion in penalties related to an emissions fraud scheme.

Trending Now

Information, charts or examples are for illustration and educational purposes only and not for individualized investment management This message contains commercial elements, such as advertising. We only send these offers to those who have opted in to our newsletter. Past performance is not indicative of future results. For these reasons we strongly suggest trading in a DEMO/Simulated account. The information provided by us is for educational and informational purposes only. We make no representations or warranties concerning the products, practices or procedures of any company or entity mentioned or recommended and have not determined if the statements and opinions of the advertiser are accurate, correct or truthful. If you use, act upon or make decisions in reliance on information contained or any external source linked within it, you do so at your own peril and agree to hold us, our officers, directors, shareholders, affiliates and agents without fault.

Copyright traderelite.club
Privacy Policy | Terms of Service