Social Issues

Something unexpected happened on the road to Obama's economic "recovery" - according to Gallup, over the past two years, a record two-thirds, or an average of 67% of lower-income U.S. adults, up from 51% from 2010-2011, have worried "a great deal" about the problem of hunger and homelessness in the country. They are not alone: concern has also increased among middle- and upper-income Americans, but they still worry far less than do lower-income Americans.

Authored by Wolf Richter via WolfStreet.com,

Those who lost out on the Fed’s “wealth effect.”

Here’s a mystery: Has this “wealth-effect” economy that the Fed so beautifully engineered since the Financial Crisis gotten a lot riskier, scarier, and uglier in some profound ways for lower-income Americans, those making $30,000 or less a year?

One of the questions that Gallup posed was this:

A month ago, Maryland Attorney General Brian E. Frosh wrote to federal authorities asking that they declare the state's courts, schools and hospitals off limits to immigration agents. Frosh, a Democrat, wrote that he was sending the letter in response to new immigration guidelines issued by the Trump administration that greatly expand the number of people considered a priority for removal from the country.

Irish Government To Issue Free Gold Coin To Protect Citizens From Brexit's Impact On Euro and EU

Chicago's pension funds, along with several other large public pensions around the country, are in serious trouble (we recently discussed the destruction awaiting our financial markets here: "Are Collapsing Pensions "About To Bring Hell To America"?"). 

The problem is that the pending doom surrounding these massive public pension obligations often get clouded over by complicated actuarial math with a plan's funded status heavily influenced by discount rates applied to future liability streams.