Remembering Ronnie: Join the 7th Annual Ronnie’s Run and Support Addiction Recovery

- August 20, 2023

On August 26th, 2023, the 7th Annual Ronnie’s Run will take place at Al Lopez Park, Tampa, in memory of Ronnie Scrimo. This event aims to raise awareness for addiction recovery and provide resources for those struggling with alcohol and drug addiction. Ronnie’s Run not only celebrates the life of a remarkable athlete and dedicated student but also endeavors to support individuals and families affected by addiction. Join this meaningful race and make a difference in the lives of those who need it most. Ronnie Scrimo, a talented athlete and student, tragically passed away on December 10th, 2014. He was a dedicated Saint Petersburg College student, who had already earned his A.A. degree and was close to completing his Bachelor’s of Arts degree. Ronnie was an active participant in various fitness activities such as Tri-Fitness, Orangetheory Fitness, and CrossFit Apogee in Apollo Beach, FL. The memory of Ronnie’s vibrant spirit and love for sports inspired the creation of this annual run in his honor. The primary focus of Ronnie’s Run is to raise awareness around the challenges of alcohol and drug addiction, while also providing essential resources for those struggling with addiction and their families. Addiction can have a devastating impact on individuals and their loved ones, and this event aims to spark conversations, diminish stigmas, and encourage support networks. To ensure a smooth race day experience, packet pick-up will be available at two locations. On Wednesday, August 23rd, 2023, visit St. Pete Running Company at 6986 22nd Ave N, St. Petersburg, FL 33710, from 4 pm to 7 pm. Additionally, on Thursday, August 24th, 2023, packet pick-up will be held at Dick’s Sporting Goods Store in Tampa, Westshore Mall, from 4 pm to 7 pm. Please note that race day registration will not be available, so be sure to register online by the day before the event. Ronnie’s Run promises a fantastic race experience for participants. The event will feature live, in-person races starting at Al Lopez Park. Racers can choose from a 5k or 10k distance, both designed to accommodate all levels of runners. The event offers a variety of incentives and perks for participants, including a race shirt with eight different options, ranging from tank tops to hoodies, and unique finisher’s medals with ten distinctive designs. Following the race, participants can enjoy a well-deserved breakfast burrito catered by McDintons of South Tampa. Athletes can also cool down with complimentary ice pops and non-alcoholic, ice-cold beer provided by Athletic Brewing. To keep the energy high, the event will feature Charlie Chase DJ Entertainment, offering a lively atmosphere with great tunes. Dave Ragsdale will serve as the emcee for the event, ensuring an engaging and enjoyable experience for all. Registration: To join this powerful event and support addiction recovery, visit Eventbrite and secure your spot for Ronnie’s Run. Tickets can be purchased at https://www.eventbrite.com/e/ronnies-run-5k-10k-leftover-race-tickets-697559297637?aff=ebdssbcitybrowse. The 7th Annual Ronnie’s Run is an opportunity to honor Ronnie Scrimo’s memory, celebrate his accomplishments, and support those battling addiction. By participating in this race, you can contribute to raising awareness and providing resources to individuals and families affected by alcohol and drug addiction. Lace up your running shoes, join the cause, and make a positive impact on August 26th, 2023, at Al Lopez Park in Tampa, FL. Together, we can run for Ronnie, run for recovery, and run for a better future. TBC Onlinetampabayconnects.com

Renowned investor and Stock Market Historian, Jeremy Grantham has No Faith in Federal Reserve

- August 20, 2023

Renowned investor and stock market historian, Jeremy Grantham, has expressed his belief in an upcoming US recession.  Grantham, known for accurately predicting previous financial crises, does not have confidence in the Federal Reserve’s ability to steer the economy towards a soft landing. He argues that higher interest rates will cause pain in the markets and expects the repercussions to drag on, potentially sparking a recession that could last into 2024. Grantham also warns of a possible stock market decline accompanying the downturn. In April, he predicted a significant market decline and a brutal recession, advising against holding US stocks and criticizing the Federal Reserve for creating asset bubbles. Furthermore, Grantham suggests that Federal Reserve Chair Jerome Powell’s goal of 2% inflation may be challenging to achieve. He believes that we have entered a period of moderately higher inflation and, consequently, moderately higher interest rates. Grantham states that low rates push asset prices up, while higher rates push them down, and he anticipates an era of higher rates compared to the previous decade. In summary, Jeremy Grantham’s insights highlight his concerns about an impending US recession and doubts about the Federal Reserve’s ability to effectively manage the situation. He warns of the negative impact of higher interest rates on the markets and expects a potential stock market decline as a result. Additionally, Grantham predicts moderately higher inflation and interest rates going forward. TBC Onlinetampabayconnects.com

Catastrophic results on the horizon with 1 trillion of high debt says Bank Of America.

- August 20, 2023

Bank of America has issued a warning about a mountain of high-yield debt that could potentially be at risk. The bank estimates that companies have accumulated approximately $1 trillion of high-yield debt over the past five years, largely driven by below-investment grade corporations.  According to Bank of America’s analysis, around 25% of this debt consists of below-investment grade firms issuing risky high-yield bonds. Additionally, 35% is comprised of broadly syndicated loans taken out by below-investment grade companies, while the remaining 40% is classified as private debt. This buildup of high-yield debt poses a significant concern for the market. Bank of America strategist Yuri Seliger stated in a note on Friday, “$1 trillion in new leveraged credit over the last five years faces its day of reckoning.” Seliger further explained that approximately half of this borrowed money is currently housed in well-performing capital structures, while the other half is now in various stages of stress. To dive deeper into the potential risks, it is worth highlighting specific figures. Around $400 billion of the debt is currently trading at rates over 6%, which Bank of America categorizes as “pre-distress.” Refinancing these assets could lead to a coupon rate of 10% or higher. Additionally, roughly $150 billion of the debt is considered to be “deeply distressed,” as refinancing is no longer a viable option. It’s not just Bank of America raising concerns about mounting debt levels in the United States. Experts have been voicing worries about both private and public debt as the country moves away from a period of low-interest rates towards a regime of higher rates. The US has seen an increase in real interest rates, with a rise of 525 basis points to combat inflation, subsequently leading to elevated borrowing costs for corporations. This, coupled with a surge in corporate defaults – surpassing last year’s total, according to Moody’s Investors Service – paints a worrisome picture. Bank of America had previously predicted that up to $1 trillion of corporate debt could be at risk of default if the US were to enter a full-blown recession. However, strategists currently do not see a recession as likely to occur this year. In conclusion, the accumulating high-yield debt of around $1 trillion poses a potential risk for the market. With about half of this debt at risk of defaulting, experts are closely monitoring the situation. As interest rates rise and concerns over mounting debt levels persist, it remains to be seen how these factors will shape the financial landscape in the near future. TBC Onlinetampabayconnects.com