Evidence of Our Growing Wealth Inequality
This first fact is nearly ungraspable: In 2009 the average wealth for almost half of American families was ZERO (their debt exceeded their assets).
In 1983 the families in America's poorer half owned an average of about $15,000. But from 1983 to 1989 median wealth fell from over $70,000 to about $60,000. From 1998 to 2009, fully 80% of American families LOST wealth. They had to borrow to stay afloat.
A recent audit by labor monitoring authorities found workers as young as 15 at a factory in Phnom Penh, Cambodia that produces clothes to be sold by the Army and Air Force. Some workers spoke to the Times of having to work long shifts without breaks, forcing them to soil themselves while sewing.
The Times also reported evidence of child labor in another Bangladesh factory commissioned to produce Marine Corps-branded shirts. And at yet another facility, this one making clothes for the General Services Administration—which supplies uniforms for more than a dozen federal agencies—beatings of workers were reportedly frequent, as was the often brutal suppression of labor organization. Both facilities lacked proper fire protections.
Youth facing long-term unemployment are more than two times as likely as their peers to believe they have nothing to live for at a rate of 21 percent, finds a report (pdf) released Thursday by the UK-based youth charity Prince's Trust.
In 2,161 interviews with UK-based young people aged 16 to 25 years old, the organization found that "40 per cent of jobless young people have faced these symptoms of mental illness – including suicidal thoughts, feelings of self-loathing and panic attacks – as a direct result of unemployment."
First-time buyers put down deposits averaging nearly £31,000 last year as house prices continue to soar, a report has revealed.
The figure is 77 per cent higher than at the peak of the housing bubble in 2007, and around £10,000 more than the average twenty-something in full-time employment earns in a year.
Those who can afford to save £200 a month would have to save for 13 years before they could afford to buy.
Meantime, you get loud and coarse and dance on tables with your knickers on your head, the cerebral cortex becomes atrophied, the liver and pancreas explode, the kidneys shrivel like walnuts, everyone gets addicted - alcohol-related disease costs $220 billion annually in North America alone.
'In science, a theory is abandoned or substantially modified if it does not concur with the emerging facts, fails to predict important events, or is contradicted by experiments. That, alas, does not seem to apply to economic theories.
Many of the leading lights of free-market (neo-liberal) capitalism were asserting before the crash that the market had correctly valued property, shares, derivatives and other exotic products that the “moneymen” were engaged in trading in. They failed spectacularly to predict the 2008 crash, the second largest economic crisis in history, after the great depression.
You would think, wouldn’t you, that those high priests of neo-liberal economics would now be contrite, admit that their models of the market and human behaviour are wrong, or at least are in need of serious modification. Not a bit of it, they just carry on regardless, as if the crash never happened.'
Imagine a country that, during the week between Christmas and New Year’s Day, abandons those hit hardest by economic turbulence, and you have a sense of what the United States has become under the cruel hand not just of House Budget Committee chairman Paul Ryan – who refused to agree to any budget deal that included an extension of benefits – and those members of Congress, Republicans and Democrats, who compromised with the failed Republican vice presidential candidate’s austerity agenda.
Siphoning billions of Medicare dollars, for-profit hospice companies found recruiting non-dying patients
Labour leader Ed Miliband has been accused of wasting taxpayers' money after spending £125,000 in nine months on travel and hotels.
The then Energy Secretary's team of ministers and civil servants splashed the cash during the last Government, The Sun reported.
They have been accused of 'champagne socialism' after a series of bills were made public under Freedom of Information laws.
Hand transplants are being denied to English patients because of a bureaucratic NHS row, Britain’s leading expert said last night.
In the meantime, Scottish patients can jump the queue and be treated in England while the dispute drags on.
Professor Simon Kay performed the UK’s first hand transplant a year ago on former pub landlord Mark Cahill, 52.
Are they kidding? This is how you treat the backbone of society? These men and women worked hard their whole lives, paid taxes their whole lives (funded those hefty bonuses paid to the politicians they were trusting), funded the schools, the hospitals, the roads and so much more. They are now retired and would like some rest and peace, instead many are faced with poverty, more financial struggle, stress and anxiety. Not to mention they are having a difficult time getting around, as in the physical conditions that come with aging, many live alone and face these physical struggles and emotional fear by themselves.
Ontario Finance Minister, Charles Sousa, said Ontario believes a change is urgently needed now, “Over 50 per cent of Ontarians do not have a pension plan. They’re going to be fully reliant on CPP (Canada Pension Plan) to provide for them and at $12,000 a year, that is insufficient,” he told CBC News.
'Dianne Jeffrey, chairman of the Malnutrition Task Force and of Age UK, said: 'Eating and drinking properly is critical to being healthy and remaining independent. Yet malnutrition goes untreated and diagnosed in nearly one million older people in England.
Health minister Dan Poulter added: 'Many people think of malnutrition as a problem that only affects the Third World. But the reality is that over three million people in the UK have the potential to become malnourished - many of whom are frail and elderly.'
'The charity, supported by the Church of England and other churches, says on its website that half a million people used aid from food banks this year.
It claims ‘the single most common reason for people to need food aid is that their benefits have been changed, delayed or stopped’.
Ben reveals, working grueling shifts in a warehouse is often the only job they can get
At Amazon, I am paid £7 an hour and have to work 55 hours a week, with no choice of when I do them. If I'm lucky, though, I can pick between day or night shifts.
Far from being surrounded by uneducated manual workers, I am pushing my trolley alongside law graduates, classicists and mathematicians, many from top universities like mine.
Last year consumers from around the world threw away 48.9million tonnes of electrical and electronic goods, and this figure is set to rise by a third by the end of 2017.
This would mean the number of fridges, TVs, mobile phones, tablets, computers and other electrical products being thrown away could fill a line of 40-tonne trucks stretching three quarters of the way around the Equator - or 18,600 miles.
El Mundo reports that the family turned to out-of-date food after the father lost his job as a plumber two years ago.
Their house was seized by the bank, but they continued to live in the property as de facto squatters, the Spanish daily newspaper added.
The season's first snow settled in parts of Lebanon this week, giving refugee children who have fled the war in Syria the opportunity for a snowball fight outside their tents.
But, children's games aside, the winter weather heaped another layer of misery on the already grim existence of many of the estimated one million Syrians in Lebanon who have fled the civil war raging in their homeland.
Academic safeguards like peer review and stringent ethical codes have not prevented scholars from presenting false and misleading information about the country. For example, Venezuela is often portrayed as an economic basket case, despite clear evidence that during the past decade, it has experienced a respectable real per capita income growth rate of 2.7 percent annually, has slashed poverty and unemployment in half, and has reduced income inequality to the lowest in Latin America.
Nothing can excuse the outrageous failure to prevent genocide. The United States needs to stop selectively condemning countries only when it is in its own supposed interest to do so. It needs to create a uniform standard for condemning human rights violations. And it needs to recognize the jurisdiction of the ICJ, as well as the International Criminal Court. If that means taking responsibility — and risk — for being held to account for its own violations of human rights, then all the better.
'..Sportsmen and politicians from Bill Clinton to Fidel Castro are all united in his beatification.
Is this, however, the whole story? Two key facts remain obliterated by this celebratory vision. In South Africa, the miserable life of the poor majority broadly remains the same as under apartheid, and the rise of political and civil rights is counterbalanced by the growing insecurity, violence and crime. The main change is that the old white ruling class is joined by the new black elite. Second, people remember the old African National Congress that promised not only the end of apartheid, but also more social justice, even a kind of socialism. This much more radical ANC past is gradually obliterated from our memory.