Monthly Archives: September 2013

US poverty rate steady at 15 percent, but ‘lower class’ is booming

"The share of those who identify themselves as 'lower class' – at 8.4 percent – now stands at its highest level in four decades, according to separate data released this week from the long-running General Social Survey (GSS). Just as surprising, the share of college graduates who describe themselves as lower class has jumped from 2.6 percent in 2002 to 5.8 percent in 2012. According to the GSS, only 55 percent of Americans these days believe things will get better for themselves and their kids – a rather paltry number for a country built on the notion that everyone has an equal chance to get ahead." Continue reading →

Continue ReadingUS poverty rate steady at 15 percent, but ‘lower class’ is booming

With the end of Fed’s QE in sight, U.S. public says ‘Huh?’

"The Fed's $2.8 trillion 'quantitative easing' program has, among other things, lifted stock prices to record highs, driven interest rates to record lows and put a floor under what had been a reeling housing market. Yet barely a quarter of Americans even know what it is. A poll leading up to the Fed's pivotal decision, expected Wednesday afternoon, found just 27 percent of U.S. adults could pick the correct definition of quantitative easing from among five possible answers." Continue reading →

Continue ReadingWith the end of Fed’s QE in sight, U.S. public says ‘Huh?’

Median Household Income Is Flat

"In 2012, median household income in the USA was flat. Adjusted for price inflation, it was down 9% since 1999: the Clinton era. It is where it was in the late 1980s: early Bush I. All this has happened under Keynesianism. The engine of economic development has gone flat for 80% of Americans. According to Keynesian economic theory, none of this should have happened. The federal government is supposed to be able to manage the economy, so that recessions are short and mild. But that theory was blasted by the recession of 2008-9. The recovery has not done anything for the vast majority of Americans." Continue reading →

Continue ReadingMedian Household Income Is Flat

Government-Run Bridges: Guaranteed Erosion

"Many fracture critical bridges were erected in the 1950s to 1970s during construction of the interstate highway system because they were relatively cheap and easy to build. Now they have exceeded their designed life expectancy but are still carrying traffic — often more cars and trucks than they were originally expected to handle. The Interstate 5 bridge in Washington state that collapsed in May was fracture critical. Cities and states would like to replace the aging and vulnerable bridges, but few have the money; nationally, it is a multi-billion-dollar problem. As a result, highway engineers are juggling repairs and retrofits in an effort to stay ahead of the deterioration." Continue reading →

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Moon Shining At Sunset: Marina Bay Sands Resort in Singapore

"This sunset shot at the Marina Bay Sands was one in a million. The sky lit up just right as the moon was rising behind the resort. Many people don’t know but the resort is an actual complex complete with a shopping mall, casino, and a Venice Gondola ride. One of the cool things about the Marina Bay Sands Resort besides the amazing infinity rooftop pool is the fact that you can use your hotel Wi-Fi throughout the entire shopping complex. The picture was taken from the famous Merlion statue just across the water from the resort. This also happens to be where the cars zip by in the only night time Formula 1 race." Continue reading →

Continue ReadingMoon Shining At Sunset: Marina Bay Sands Resort in Singapore

World’s first ‘invisible’ skyscraper planned for South Korea

"Architects in South Korea are going to need one big invisibility cloak. Seoul will soon add a 1,476-foot tower to its skyline, you just may not be able to see it. The international architectural firm GDS Architect received the green light to begin building the 'world's first invisible tower.' The glass-encased Tower Infinity will use cameras to snap real-time pictures of the area directly behind the building and project them back onto the building's reflective surface. This will create the illusion that viewers are looking straight through the building." Continue reading →

Continue ReadingWorld’s first ‘invisible’ skyscraper planned for South Korea

U.S. to seize New York skyscraper it claims is secretly owned by Iran

"A federal judge ruled in favor of the government’s suit this week, saying the building’s owners had violated Iran sanctions and money laundering laws. Manhattan Federal Prosecutor Preet Bharara said the decision upholds the justice department claims the owner of the building 'was (and is) a front for Bank Melli, and thus a front for the Government of Iran.' Bharara said the funds from selling the building would provide 'a means of compensating victims of Iranian-sponsored terrorism.' Prosecutors allege the building’s owners, the Alavi Foundation and Assa Corporation, transferred rental income and other funds to Iran’s state-owned Bank Melli." Continue reading →

Continue ReadingU.S. to seize New York skyscraper it claims is secretly owned by Iran

Young Greeks Helping Each Other to Combat Crisis

"The political class may have set the rules, but almost everyone adhered to them. Now the game is over, and there is no money left for fakelaki and rousfeti, corruption and nepotism, two basic principles of Greek political life until now. Suddenly there is room for those who want to set up new rules, and who want change and more cooperation. Some 3,000 initiatives were established throughout Greece in the last three years. They all have the same goal: to do things better than before. There are food cooperatives, community gardens, social pharmacies and neighborhood assistance programs for the poor. In Crete alone, there are now five alternative currencies." Continue reading →

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‘HELP: Detroit is Waiting to be Rescued!’

"If I believe the sensationalist media, the city where I have spent my half-century on earth is barely recognizable to me anymore, thanks to the fourth estate bobbleheads who have either never step foot here, or, they take a moment to zip through the city via their hired limousines just long enough to have their camera crew photograph some background ruin porn while they spin their melodramatic tales of Detroit’s long, slow, harrowing demise due to bankruptcy woes, oodles of $100 houses falling into disrepair, dead bodies percolating from the ground, and lastly, angry packs of feral dogs (in gangs of 20) roaming the streets and eating humans as appetizers." Continue reading →

Continue Reading‘HELP: Detroit is Waiting to be Rescued!’

New Yorker Foodies Pissing Off the Regulatory Bullies

"The article describes heroic foodies in New York who celebrate and arrange unique dining experiences for folks who voluntarily want to partake of these experiences and pay their hosts a worthwhile fee to provide them with a desired service. Great chefs are doing this not just for a profit, but also because of their love for food culture and the desire to foster unique dining experiences for their own enjoyment. Meet-Ups have been forming here in Detroit doing the same sort of thing. I am going to my first 'illegal' event soon." Continue reading →

Continue ReadingNew Yorker Foodies Pissing Off the Regulatory Bullies