Politics

POLITICS & STUFF | What’s Past is Prologue: Race and Poverty in Contemporary America

By |

Imagine a society in which almost 1 in 4 African-Americans are in poverty; for white people, the number is less than 1 in 10 (Proctor et al., 12). Imagine that society in which not only black children are more likely to be born into poverty, but half of them will also remain there as adults. Only a third of poor white people will stay in the lowest income quintile (Reeves, 1). No, this isn’t the 1850’s. This is American poverty in 2016.

Business

CONSCIOUSLY LIBERAL | MARKETS: New Census Data and Why We Should Proceed With Caution

By |

A new census found that median household income in the US had risen by 5.2% in 2015 compared to the rise in income in the previous year. Although this is good news, the data turns out to be more a reflection of the health of the labor market, rather than the health of the economy. In other words, rising median income, according to a New York Times article, was due to the expansion in employment. Although gains were made in median household income, we have yet to see the market move in the direction that one would predict it to move if the health of the economy had adequately recovered. According to a Financial Times article, the months prior to the past month of August have shown decent consumer spending.

Business

THE DISMAL SCIENCE | Venezuela Can’t Feed Its Cats

By |

Long lines and empty shelves plague Venezuela’s grocery stores as its economic crisis shows no signs of stopping. Pets are also feeling the effects of the prolonged food shortages as residents are struggling to spare a single morsel, according to a report by CBS. The South American nation traditionally relies on foreign goods to stock its stores, but imports are down 40% from last year, according to a report by NPR. The reason for such a sharp cut is simple: the government is running out of money. It is easy to blame the problem on a worldwide slump in oil prices.