Student debt has reached an all-time high of $1.4 trillion!!

The Daily Show

August 22, 2019

Student debt has reached an all-time high of $1.4 trillion across America, or roughly one dollar for every Democratic presidential candidate.

Student Debt in the U.S. Reaches an All-Time High

Student debt has reached an all-time high of $1.4 trillion across America, or roughly one dollar for every Democratic presidential candidate.

Posted by The Daily Show on Tuesday, August 20, 2019

Young cellist plays amazing!!

Daniel D.

August 2019

This young cellist is amazing! You can tell she loves playing, crazy talented! 😮
Cellist- Ifetayo Ali-Landing

Girl Plays Cello Amazing!

This young cellist is amazing! You can tell she loves playing, crazy talented! 😮 Cellist- Ifetayo Ali-Landing

Posted by Daniel D. on Sunday, August 4, 2019

Bill Maher Has No Tears For David Koch:

Clashes between police and protesters have brought Hong Kong to a standstill!

CNN posted an episode of Go There. 
Clashes ripple across Hong Kong as student-led protests defy government 

August 13, 2019

“They’re calling for a revolution.” Clashes between police and protesters have brought Hong Kong to a standstill, with thousands of citizens continuing to peacefully march despite tear gas and forceful removal by police. Here’s what protesters are demanding, and how the standoff is bringing the city of more than 7 million to the brink. Warning: The following video contains graphic content. Viewer discretion is advised.

Clashes ripple across Hong Kong as student-led protests defy government

“They’re calling for a revolution.” Clashes between police and protesters have brought Hong Kong to a standstill, with thousands of citizens continuing to peacefully march despite tear gas and forceful removal by police. Here's what protesters are demanding, and how the standoff is bringing the city of more than 7 million to the brink. Warning: The following video contains graphic content. Viewer discretion is advised.

Posted by CNN on Tuesday, August 13, 2019

Trump Is Making The Same Trade Mistake That Started The Great Depression

Forbes

Trump Is Making The Same Trade Mistake That Started The Great Depression

John Mauldin, Senior Contributor – Markets       June 2019

GETTY

We all wonder if Trump’s trade actions are as random as they appear or if there is a broader strategy.

Some of my contacts argue that the relatively strong U.S. economy allows the administration to take a harder line than would normally be advisable.

The thinking is that we can ride out a trade war better than China can.

This only works if the U.S. economy keeps growing long enough for the tariffs to make China bend. We can postpone a recession for another year or two if the trade war doesn’t intensify and Europe holds together.

Since it is intensifying, we may not get that time. In other words, tariffs could end the conditions that justified them.

Something similar happened before, during the most famous trade mistake in U.S. and global history.

The 1930’s Smoot-Hawley Tariffs

Similar to today, the Roaring 1920’s saw rapid technological change, namely automobiles and electricity.

This created a farm surplus as fewer horses consumed less feed. Prices fell and farmers complained of foreign competition.

Herbert Hoover promised higher tariffs in his 1928 presidential campaign. He won, and the House passed a tariff bill in May 1929.

The Senate was still debating its version of the bill when the stock market crashed in October 1929. Today, we use that event to mark the Great Depression’s beginning.

But at the time, people didn’t know they were in a depression or even a recession. Most economists expected a quick recovery. Stocks did recover quite a bit in the following months, though not back to their prior highs.

So, when the Senate finally passed a tariff bill in March 1930, the thinking was not that different from what we see today. They thought they could preserve and even extend the good times.

But conditions worsened quickly, and by 1931, unemployed men were standing in soup lines.

In 1932, both Smoot and Hawley lost their seats as Franklin Roosevelt beat Hoover in a landslide—57% of the popular vote.

That history won’t necessarily repeat this time, but it’s not a good sign.

Throwing Caution to the Wind

Last year, I wrote about a sandpile experiment conducted by physicists back in the 1980’s. I described how a sandpile can slowly grow in size, apparently stable. At any moment, however, something could trigger an avalanche.

The global trade system is something like that. Of course, it’s not perfect or even optimal. Countries erect barriers to their advantage.

I can point to several countries whose economic policies are mercantilistic, but at least everyone knows about them. We see the the dangers and back off to avoid an avalanche whose victims are impossible to predict.

It is a kind of equilibrium.

Everyone’s incentive is to avoid catastrophe and make incremental improvements. That makes trade talks extraordinarily difficult.

The Trump administration doesn’t seem to care about equilibrium. Whether it’s coming from the president himself or those around him, the strategy appears to be “kick apart the sandpile and make everybody rebuild it.”

And whether we like it or not, many of Trump’s supporters actually like the concept of throwing a wrench into the system.

So, it is not the case that the U.S. has no choices. We have many choices. Tariffs are the wrong one. But then, that is just me, and I am one lone voice and vote.

John Mauldin is President of Mauldin Economics and a financial writer, publisher, and New York Times bestselling-author. Each week, nearly a million readers around the world receive my Thoughts From the Frontline free investment newsletter.

What you should and should not flush down your toilets!

NowThis Politics

August 9, 2019

From fatbergs to microplastics, here’s why what you flush down the toilet matters — and why you should NEVER flush wet wipes 🚽(via NowThis Future)

What You Should & Should Not Flush Down the Toilet

From fatbergs to microplastics, here’s why what you flush down the toilet matters — and why you should NEVER flush wet wipes 🚽(via NowThis Future)

Posted by NowThis Politics on Thursday, August 8, 2019

Moscow has 12 million people, and no system to recycle.

Vice News

August 3, 2019

Moscow has 12 million people, and no system to recycle.

That’s created a garbage crisis not just for the city, but the entire country.

Moscow has No System to Recycle and it's Starting to Poison People

Moscow has 12 million people, and no system to recycle.That’s created a garbage crisis not just for the city, but the entire country.

Posted by VICE News on Friday, August 2, 2019

What did Obama do for America? Obama v. trump; no contest

Occupy Democrats
One year ago:      July 22, 2018

Show this handy video to all of your conservative friends who claim that President Obama didn’t accomplish anything in his two terms. He makes President Trump look like a lazy amateur.

What did President Obama do for America?

Show this handy video to all of your conservative friends who claim that President Obama didn't accomplish anything in his two terms. He makes President Trump look like a lazy amateur.

Posted by Occupy Democrats on Saturday, July 22, 2017

Trump’s cuts to food stamps are economically and morally indefensible.

Opinion: Trump’s cuts to food stamps are indefensible, economically and morally

By Karen Dolan             July 31, 2019

SNAP program reduces poverty better than anything else, with very little fraud

Getty Images
A half a million kids will lose their school lunch assistance if the Trump administration changes the rules for food stamps.

Under new changes proposed by the Trump administration, over 3 million struggling parents, children, people living with disabilities, and older American may lose access to food stamps, also known as the Supplemental Nutrition Assistance Program (SNAP). Children in families who are slated to lose their SNAP benefits will also lose critical school-lunch assistance.

The Trump administration wants to eliminate an eligibility criterion known as broad-based categorical eligibility (BBCE), which enables states to expand access to those in need of food assistance based on other programs they qualify for.

By eliminating it, the administration is effectively creating a benefits cliff, where a parent’s small raise at work — or a modest amount of savings — could end up disqualifying a family from SNAP entirely. That leaves them poorer for getting a raise or saving money, or else puts them at risk of their food aid falling through the bureaucratic cracks.

Failed twice

Trump and the Republicans attempted to get this reduction in the nation’s most effective social safety-net program rammed through Congress last year — and failed. They also failed in their attempt to significantly defund the program. So now Trump is attempting to reduce food access to families in need via executive fiat.

SNAP reduces poverty more simply and directly than nearly any other program. Because it’s responsive to the overall economy, it expands during economic downturns and contracts when poverty levels fall. This enables people to weather temporary economic hardship, stay above the official poverty level, and gets money more quickly into the economy.

It also literally puts food into children’s mouths, while their parents work and save.

Why would the administration want to take critical food assistance away from children and families who need it? The administration has claimed ineligible people are using the program, perhaps fraudulently. But that’s unlikely.

Looking at figures through 2016, Forbes contributor Simon Constable calculated potentially fraudulent SNAP expenditures at under 1% of the cost of the program — a minuscule amount compared to behemoth agencies like the Pentagon, which can’t even pass an audit, and which nonetheless keeps getting budget increases.

Rigorous standards

SNAP, by contrast, “has some of the most rigorous program integrity standards and systems of any federal program,” adds Robert Greenstein of the Center of Budget and Policy Priorities, including for recipients who qualify by their participation in other programs.

According to the center, SNAP is one of the most effective economic stimulators per federal dollar spent of any program. During the economic downturn of 2009, for example, Moody’s Analytics estimated that for every dollar increase in SNAP benefits that year, $1.70 economic activity was generated.

Further, the administration has repeatedly claimed — also falsely — that poverty is all but solved.

That’s not remotely true.

According to research by the Poor People’s Campaign and the Institute for Policy Studies, 140 million Americans are either poor or low-income. In this wealthiest nation on the planet, even as more wealth concentrates at the top, some 43% of us struggle to make ends meet — a number that far outpaces the official poverty measure, not to mention Trump’s mis-characterization of it.

Our social safety net, which includes assistance for basic needs such as housing, health, and nutrition, is insufficient and under attack.

Neglecting children

The impact of this neglect on the health and well being of our children, in particular, reverberates through our entire economy.

Our report compiles reams of data on the enormous economic costs of child poverty, such as the Children’s Defense Fund’s estimation that the economic cost of lost productivity, worsened health, and increased crime rates that stem from child poverty total roughly $700 billion per year — 3.5% of GDP.

Strengthening SNAP is key to reducing this damage. So on economic grounds alone, the Trump proposed rule change to kick millions struggling children, families — and not to mention people living with disabilities and older people — off critical food assistance makes no sense. On moral grounds, it’s indefensible.

As the Rev. Dr. William Barber and the Poor People’s Campaign often says, “Everybody’s got the right to live.” That right belongs to America’s 140 million poor and low-income people, including the 3.1 million children and families experiencing hardship that rely on the nutritional assistance provided by the SNAP program.

Karen Dolan directs the Criminalization of Race and Poverty Project at the Institute for Policy Studies. She’s a co-author of the IPS-Poor People’s Campaign Report, “A Poor People’s Moral Budget: Everybody Has the Right to Live.” The IPS is funded by private foundations and individual donors.

Ethiopia’s bid to plant four billion trees

AFP

Going green: Ethiopia’s bid to plant four billion trees

Robbie Corey – Boulet, AFP         July 30, 2019