Trump has repeated similar lines — that the middle class will be the plan’s main beneficiaries. But the rhetoric so far doesn’t match up with the few details released on Sept. 27 — and some recent analyses by Washington policy groups have used specifics from earlier GOP tax proposals in combination with the latest framework to find that some middle-income taxpayers might pay more.
Congrats, College Grads. Now Good Luck Paying Off All That Debt (Saxplayer00o1)
“While college is generally a good investment, it has become increasingly expensive over the last several decades to attend a four-year program, as costs have risen considerably faster than wages, especially wages for all but the very top of the income distribution,” New York Fed President William Dudley said in a speech Friday. “This means that college has become increasingly unaffordable for those families who need it most, if we are to increase social and economic mobility.”
Electric Car Putsch (thc0655)
Not without monster “incentives” that dramatically lower the purchase price. The Chevy Bolt, for instance. GM’s latest electric car – on which many hopes were pinned – stalled like a ’78 Pinto after it was introduced at the beginning of this year. Its $37,500 base price being the obvious reason for buyer reluctance. The Bolt is basically a compact economy car – except for its electric drivetrain, the same sort of car as a Honda Civic or Toyota Corolla.
Except it costs twice as much as they do.
Then, earlier this week, The Intercept unmasked Klarman’s Baupost Group as one of the largest holders of Puerto Rico’s skyrocketing public debt. The U.S. territory is reeling from a recent one-two punch of Hurricanes Irma and Maria, but its residents—who are U.S. citizens—have long suffered as the island’s government has struggled to pay off over $70 billion in bonds. For over a decade, infrastructure has been neglected and privatized, government employees have been laid off, and public services have been drastically cut—in May, 184 public schools were put on the chopping block. Even democracy has been taken from the people: last year, Congress gave decision-making power over the territory to an unelected board. Why? To pay back bondholders like Klarman. Using a shell company to hide that they’re profiting from this suffering, the Baupost Group owns $911 million of the island’s bonds.
Is This The Geopolitical Shift Of The Century? (Michael K.)
U.S. allies Saudi Arabia, Egypt, Turkey and even the UAE, have shown an increased eagerness to develop military and economic relations with Moscow, even if this means dealing with a global power currently supporting their archenemy Iran. Analysts wonder where the current visit of King Salman will really lead to, but all signs are on green for a straightforward Arab-Saudi support for a bigger Russian role in the region, and more in-depth cooperation in oil and gas markets.
The energy story is now in full swing (see part two of BIG SCIENCE), but the focus here is more on philosophy. On the key historic events. Hey it is wild enough we might have to do this, and I agree with that view, but we are here to discuss not to convince the like-minded. The ideas of Rousseau figure large in the aftermath of 1789, logic is made into practical ability to change society. I will repeat that this piece will avoid talking about economics.
There are various scenarios that follow from here — China could: shift to reducing its massive demand for energy, a tall order in itself given population growth projections and rising consumption; accelerate a renewable energy transition; or militarise the South China Sea for more deepwater oil and gas.
When political movements or leaders adopt population control as a central concern… let’s just say it never goes well. In practice, where you find concern over “population,” you very often find racism, xenophobia, or eugenics lurking in the wings. It’s almost always, ahem, particular populations that need reducing.
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