News Dump Sunday: By The Numbers Edition
Submitted by gjohnsit on Sun, 08/07/2016 - 12:06pm
Negative wealth is on the rise in the United States and according to the New York Federal Bank of Reserve, student loans have become a predictor of shrinking assets of many families. Households have negative wealth when debts are greater than total cash and non-cash assets.
About 15.1% of U.S. households have total wealth at or below zero, while another 14% are well below the zero or break-even threshold, according to an August 1, 2016 New York Fed report, "Which Households Have Negative Wealth?"
"We find that the heads of such households are younger than their counterparts in households with non-negative wealth—an average age of 43 compared to 51," said Olivier Armantier, assistant vice president of the New York Fed's research and statistics group who, with senior vice president of research and statistics Wilbert Van der Klaauw wrote the report. "Moreover, we find the association between having negative wealth and the head of household's age to be stronger for those with a college degree and especially so for those with postgraduate degrees." They added that it is likely that steady growth and borrowing, combined with a very slow rate of repayment, "has materially contributed and will contribute to negative household wealth and wealth inequality."
Hong Kong-based Bitfinex said all users will lose 36 percent of their deposits after the bitcoin exchange concluded its review of a $71 million hacking attack.
“After much thought, analysis, and consultation, we have arrived at the conclusion that losses must be generalized across all accounts and assets,” the exchange wrote in a blog post on Saturday. “In place of the loss in each wallet, we are crediting a token labeled BFX to record each customer’s discrete losses.”
The African National Congress lost its stranglehold on South African politics as voter discontent over a struggling economy, a scarcity of jobs and scandals surrounding President Jacob Zuma handed it the worst performance in an election since Nelson Mandela swept it to power in 1994.
The ANC’s support dropped to 54.5 percent in an Aug. 3 local government election from 62.2 percent in a national vote two years ago. It was relegated to the second-biggest party in the capital, Pretoria, and southern city of Port Elizabeth, and gave up outright majorities in financial center, Johannesburg, and its industrial hub neighbor Ekurhuleni. The party now controls by itself only three of the country’s eight metropolitan areas.
The ANC has struggled to meet its pledge to reduce a 27 percent unemployment rate and income inequality, as low commodity prices, a weak global economy and power shortages constrained growth. The central bank expects the economy to stagnate this year and the nation is at risk of having its credit rating cut to junk by S&P Global Ratings in December.
Adding to the ever-growing number of US ground troops in the “no boots on the ground” war in Iraq, Army officials announced yet another significant deployment from the 2nd Brigade Combat Team of the 101st Airborne Division, from which some 400 troops will be sent to Qayara, just south of Mosul.
ISIS are no longer the toughest Syrian rebels
Syrian rebels cut through government forces in southern Aleppo, Al Jazeera TV reported Saturday, ending a weeks-long siege of 275,000 civilians in opposition-controlled neighborhoods in the city.
The rebel offensive, led by an Islamist alliance that includes fighters formerly pledged to al-Qaeda, overran several military bases this week. Syrian government forces, supported by Iranian-backed militias and Russian air power, besieged eastern Aleppo in July in what a monitoring group said was their most significant advance in the province since 2013...
Separately, U.S.-backed Kurdish and Arab fighters expelled Islamic State militants from Manbij, a city about 90 kilometers (56 miles) east of Aleppo, according to Al Arabiya TV. Manbij is about 100 kilometers northwest of Raqqah, capital of Islamic State’s self-proclaimed caliphate, and served as a staging area for transporting jihadists in and out of Turkey.
Comments
Media fails to notice Obama started a 4th war
ho-hum
But.. but.. we have ALWAYS been at war in West Asia! Since 1095,
anyhow. Seriously, since our constitution requires Congress to actually "declare war" rather than merely "authorize use of military force," I'd say the current POTUS is simply continuing an illegal act. Calling it a fourth war would bring attention to its reality, and neither the government nor the fourth estate wants that spotlight. Congress hasn't authorized a war since I was a 5 month old fetus.
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Gjohnsit, you have it
all wrong. It's no longer war. Now, it's just a good business opportunity. /s
Debt
One in three American adults have debt that has been sent to a collection company.
A problem that is not immediately obvious is that when so much money is involved, it becomes worthwhile for financial vultures to buy and repackage the debt for resale. An issue to this is that much of the debt is bogus to begin with and/or from an entity that has declared bankruptcy. Once it's in the hands of the financial manipulators and sold, it doesn't matter, the profit has been made and someone will relentlessly come after you for the money.
Say you, and others, were fraudulently bilked for a service or product never delivered and the company is bankrupt and no longer exists. Normally, you don't owe but since your debt has been bundled, it becomes part of a new legal product and you'll be hounded for payment. The issuer of the fraudulent product/service is gone, off the hook, but you are not because of the bundling by the financial company that bought your debt.
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
To my children
Feudalism here we come.
Sorry 'bout dat. Deal with it , don't bitch.
Cause it's the american way. Things were going swimmingly until those damned Roosevelt's showed up.
Edit. I don't really need a snark tag , do I?
Neither Russia nor China is our enemy.
Neither Iran nor Venezuela are threatening America.
Cuba is a dead horse, stop beating it.
No connection at all. Really
Trust us
If we didn't have "history's most transparent administration"
I would arch an eyebrow or involuntarily have a sharp intake of breath, but we do, Barack Obama promised it, so I guess it's synchronicity, which Prof. Jung told us is an acausal motivational syndrome.
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
Lay off Obama. He's breaking records.
When he leaves office next January, PBO's a lock to smash Cal Ripken Jr's streak of 2,632 consecutive MLB games played when he finishes with 2,922 consecutive days of America at war!
"Just call me Hillbilly Dem(exit)."
-H/T to Wavey Davey
Point well made & taken: The only president to prosecute 8 years
of war - every minute of every day of every year - in office.
I stand abashed: As one of my heroes said, in another context: No more hot dogs for you(me) - Thanks Hasil A.!!
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
"A mighty hot dog is our Lord." -Firesign Theatre
"Just call me Hillbilly Dem(exit)."
-H/T to Wavey Davey
"Peanut Butter Rock n Roll" - Hasil Atkins
Music giant from Madison, WV
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
dp, he was a West "by God" Virginia stalwart.
He was born and lived in Boone County. Also the home of, for better or worse, Jesco White "The Dancin' Outlaw".
"Just call me Hillbilly Dem(exit)."
-H/T to Wavey Davey
Hasil, I met & spent some time with; Jesco - I would run the
other way. I know Jesco dearly loves Elvis and can dance up a storm but he's unpredictable, to say the least.
Hasil believed in his music and the people of Boone county would turn out to the packette basement clubs to see him and hoist a few.
When I was visiting Boone County I am pretty sure there was just one traffic light in the county and that one was in Madison.
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
You knew The Haze?
That is so cool. I'm born, raised and still live in West "by God" and let me tell you, that is cool that you knew the man. My brother met Jesco once. Jesco liked him. He told my brother "God will take care of you, brother. Just like He's gonna take care of those motherfuckers that burned down my trailer."
"Just call me Hillbilly Dem(exit)."
-H/T to Wavey Davey
I was living at Fancy Gap and drove up looking for him.
In Madison, I bought a cold case of 16 oz Buds and snacks(mostly meat) and drove the relatively few non main roads figuring I'd recognize his place.
Found it, (took a while),found him, got out and said who I was and that I was an admirer and was invited over to the porch and then invited to have a Bud. We talked for an hour, got along fine, and it was a nice day. Talked about country music of the 50s and 60s and rockabilly. I didn't want to impose anymore so I said my goodbyes and had a smile on my face driving home.
I found him to be sincere and a decent guy - I was very much pleased that I got enough nerve to do it and that he seemed to appreciate seeing a fan. (Should have gotten a tub of KFC - Hasil on his last album wrote a song called KFC and always had nice things to say about Colonel Sanders.)
(As I said before, I would seek to avoid Jesco White - no offense but my reaction to what I've heard.)
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
Your assessment is on target about
both Ol' Haze and Jesco.
"Just call me Hillbilly Dem(exit)."
-H/T to Wavey Davey
Thanks. Since then, I've made it a point to buy all the
Hasil Adkins CDs I can find and even like his mostly country recordings. He had a very good voice and feel for the music.
One of a kind I think.
"The justness of individual land right is not justifiable to those to whom the land by right of first claim collectively belonged"
Saw Obomber's
pressed on that. His hole attitude(to me) was 'What the fuck You all gonna do about it'?'
Beyond sad. And FUCK his 'new' war!
Edit: for bad grammar.
Ya got to be a Spirit, cain't be no Ghost. . .
Explain Bldg #7. . . still waiting. . .
If you’ve ever wondered whether you would have complied in 1930’s Germany,
Now you know. . .
sign at protest march
Your next vacation? Why not make it Afghanistan?
It's a thing
Damn
I won't even go to Tijuana.
Neither Russia nor China is our enemy.
Neither Iran nor Venezuela are threatening America.
Cuba is a dead horse, stop beating it.
Nigerian Scammers Infect Themselves With Own Malware
oops
OH, I love me my itsy bit of Schadenfreude. :-) /nt
https://www.euronews.com/live
Did someone say Scadenfreude? :)
Get used to it...
[video:https://www.youtube.com/watch?v=6gEjxzsVAE4]
"I used to vote Republican & Democrat, I also used to shit my pants. Eventually I got smart enough to stop doing both things." -Me