the poor Americans ever challenge globalization's assumptions?
Time and Place: Overnight, North Korea revalues currency, 100 to 1, destroying personal savings and throwing panic into the citizenry. This is not the first time such a devaluation has happened, and it is not the last place it will happen.
I See You! In the last year, eight million Sprint customers were tracked by Big Brother via the GPS tracking ability built into Sprint phones.
Chickens Coming Home to Roost: Jobs losses continue and barring miracles or severe social unrest, the future looks grim. Unemployment will above 10% - and that may become the “new normal.” Layoffs are coming to an end, but hiring won't resume until the consumer is back in the stores, buying and running up credit debt – and that's not in sight yet either. Unemployment benefit costs are making giant holes in state budgets - 19 states are borrowing billions from the federal government, while 9 more are deep in the red. Most Americans don't want a WPA-type program, they want protection from unfair labor competition. Why are there no protections against “dumping” labor as there are for such things as dumping tires? Why doesn't fair trade include protections for US workers in the form of tariffs equal to the stolen wages in a product?
Garage Sale: Fannie and Freddie are planning a garage sale to get rid of about $250 billion in non-performing mortgages. Prices as marked, make an offer.
DOA: The FHA wants to require higher down payments, charge more for its mortgage insurance, limit seller 'concessions', and raise credit score requirements. In that each of these will whittle away at house sales, these proposals have a lot in common with snowballs in front of the fireplace.
Strong Minds/Strong Bodies: A study of over a million Swedish men shows that those with good physical fitness (not strength, fitness) had higher IQ scores than the unfit. Further research showed that environmental factors and not genes explained the link between IQ and fitness.
Buck Up: It is human nature to hope for the best and shut out uncomfortable truths, such as that the world is heading for several disasters at once. We may know what's in store for us, but we won't believe it.
Hollow Pledge: Mexico has pledged to reduce its CO2 emissions 50% by 2050. This would be more laudable if it were not probable that its CO2 emissions will drop abruptly when it ceases to be an oil exporter in a couple of years and its economy comes apart.
Up in Smoke: A trillion dollars in commercial real estate value has disappeared since 2007. Just as houses slipped underwater, so too commercial real estate. What's an empty mall going for these days?
Plastics: US credit-card delinquencies rose again in October, and Fitch Ratings expects charge-off rates to continue rising “a result of the persistent weakness in the labor markets.”
Porn O'Graph: When's the rent come due?