The Atlantic: The Impact of Microaggressions and Why They Matter.
“Using a person’s preferred or desired gender pronouns (such as the gender neutral ‘they’ instead of she or he) is not a meaningless exercise in identity politics—it is an acknowledgement of a person’s innermost identity, conferring both respect and dignity.” Navigating the emerging ‘microaggression’ meme is damned tricky. Those in college right now have the upperhand, learning it as reflex.
Daily Kos: Debunking the Myth That It’s Your Fault You’re Poor.
“In a span of less than a decade nearly all productivity raises ended for most Americans.” Much as I’d like to jump on this bandwagon, I just can’t. Productivity raises did NOT end in 1983. I was getting 10% raises every year, up until Clinton got into office. Then 5%, then 3%, then “bite the bullet” in ‘95, and I spun off as a sole proprietorship. I can’t quite express the disappointment in working for a large business, with all their shiny trappings, and having a well-dressed executive offer 3% with a straight face. Especially after having taken over management of a second entire department.
Economist/Buttonwood: Many unhappy returns.
“What is true of American pension funds is true of anyone planning for their retirement: they will need to save more. But the average payment into a defined-contribution pension scheme (from employer and employee combined) is just 10% of salary. That is not going to pay for any world cruises.”
BBC: US oil output set for sharpest fall since 1992, says industry body.
“Oil’s price collapse is closing down high-cost production from Eagle Ford in Texas to Russia and the North Sea, which may result in the loss next year of half a million barrels a day, the biggest decline in 24 years.” Getting ready for a nosebleed boost in prices ... ?
The Atlantic: A Study of the 1.5 Million American Households Living on $2.00 Per Day.
“There’s one man in Cleveland who really illustrates this ingenuity brilliantly. He has figured out a way to capture the rainwater, so that he can use it to flush the toilet in his house because he can’t afford any of the water.” Grim. This should be sent to all members of Congress.
Economist/Buttonwood: Forecasting a global recession.
“... the monetary authorities once again will have to do the heavy lifting. If the Federal Reserve and the Bank of England raise rates this year or early next year they may, if the global recession scenario materialises, be cutting rates again during the second half of 2016.”
TechDirt: Utterly Incoherent Wall Street Journal Missive Blames Netflix For, Well, Everything.
Vox: How granite countertops became an American obsession.
As we’ve heard from many folks, if your house won’t sell, put in granite and it’ll move. Doesn’t matter the price point. Even if a bungalow, people expect granite. “Formica?!!!”
naked cap: Proof of Ongoing Foreclosure Fraud and Mortgage Document Fabrication, in Five Emails.
Mashable: Walmart cuts some workers’ hours to help control costs from raising wages.
You know, I hope, that Wall Street watches Walmart closely. WM has realtime results for every store, and moves accordingly in very swift fashion.
Guardian.UK: US stock markets finish down to close out worst August in three years.
*Sigh*. I have a feeling if the interest rate hike doesn’t come, the market will climb in spite of China. Wall Street is well-versed in blackmailing the Fed.
Valet/Fall 2015 Buying Planner: Chukkas.
ArtDaily: Craft in America episode focuses on fine handmade instruments.
“Craft in America, the Peabody Award-winning documentary series, now in its 7th season, returns to PBS, on November 20th at 10pm, with an all new episode, titled MUSIC, which focuses on how fine handmade instruments are crafted and the world-renowned artists who play them, demonstrating the perfect blend of form and function.”
The Atlantic: U.S. Housing: An Economic Bright Spot After a Wobbly Week.
“Unlike with the stock market, economists agree that the housing market can probably withstand an interest rate hike ...” You wonder if policy-makers or journalists ever look beyond the statistics and check actual conditions on the ground. Real estate is but thinly recovering here. A hike would immolate that progress.
SF New Mexican: New Mexico insurer is pulling out of state health exchange.
The house of cards will come falling down. Folks I talk to, cannot find doctors to take some of the other exchange options. Not good.
Later: What happens if the ACA fails in a single state? Oh, people may be covered, but they may not find physicians to take that coverage. What happens then?
Angry Bear: Real Household Net Worth - Look Out Below?
Uh-oh. Recession coming? That’ll hurt not only us, but the Dem nominee. Obama better get serious with Ms. Yellen.
Pen Test Partners: Hacking DefCon 23’s IoT Village Samsung fridge.
“Whilst the fridge implements SSL, it FAILS to validate SSL certificates, thereby enabling man-in-the-middle attacks against most connections.” No flying cars, but SSL in your refrigerator. Welcome to the future. Thanks, @emceeaich.
Guardian.UK: North Dakota’s big oil boom in a man’s land - ‘It’s like capitalism on steroids’.
A bit light and fluffy. Is anyone preparing for when the money stops flowing? And no real mention of the environmental concerns. At least the author did hit the infrastructure issue.
naked cap/Wolf Richter: Americans’ Economic Outlook Plunges.
“Many Americans don’t own stocks and don’t pay attention to stocks even if they do own them in their retirement accounts. They care about job prospects, promotions, and incomes, which aren’t really going anywhere; and health care expenses, college expenses, housing costs, and the like, which are soaring. For many Americans, this economy is tough.” My italic emphasis.
Telegraph.UK: Dead teenager ‘wakes up in grave in Honduras’ – only to then ‘die in hospital’.
Nightmare of the day. If you don’t want to be totally bummed out, don’t read this.
BBC: US stocks fall again as rally runs out of steam.
As I said earlier [below], it ain’t over until the bell rings. As long as China remains unstable, it’s going to play hell with Wall Street. Have a drink, or take a walk ... try to forget about it.
Atlantic: The Dow Spikes at the Opening Bell After China Cuts Interest Rates.
“The Dow jumped 300 points at the opening bell Tuesday, and the S&P 500 spiked 2 percent—a day after global markets were battered amid the uncertainty posed by signs of weakness in China’s economy.” It ain’t over until the bell rings.
Reuters: Wall Street in free-fall; all three indexes in correction.
“The Dow has never lost more than 800 points in a day.” Add ten years to your retirement schedules.
Mashable: U.S. stock market suffers drastic day of panic, capping a miserable week.
Ouch, that hurts.
Aeon: We are sacrificing the right to walk.
You know, even as a kid, I noticed the dearth of sidewalks west of the Mississippi. Cars rule the long ribbons of highway, and the grids of town.