Google Groups
Join To Get Blog Update Notices
Visit the Hickory Hound Group

Monday, July 7, 2014

Economic Stories of Relevance in Today's World -- July 6, 2014

By 2045 'The Top Species Will No Longer Be Humans,' And That Could Be A Problem - Business Insider - Dylan Love - July 5, 2014 - "Today there's no legislation regarding how much intelligence a machine can have, how interconnected it can be. If that continues, look at the exponential trend. We will reach the singularity in the timeframe most experts predict. From that point on you're going to see that the top species will no longer be humans, but machines."                          These are the words of Louis Del Monte, physicist, entrepreneur, and author of "The Artificial Intelligence Revolution." Del Monte spoke to us over the phone about his thoughts surrounding artificial intelligence and the singularity, an indeterminate point in the future when machine intelligence will outmatch not only your own intelligence, but the world's combined human intelligence too.                      The average estimate for when this will happen is 2040, though Del Monte says it might be as late as 2045. Either way, it's a timeframe of within three decades.

17 Facts That Prove That The Quality Of Jobs In America Is Going Down The Drain - The End of The American Dream - Michael Snyder - June 30th, 2014 - Do you wish that you had a better job? If so, you are not alone. In fact, there are millions upon millions of Americans that get up every day and go to a job that they wish that they could afford to quit. Unfortunately, most Americans end up just desperately holding on to the jobs that they have because just about any job is valuable in this economic environment. Over the past decade, the long-term trends that are destroying jobs in America have accelerated. We have seen countless numbers of jobs shipped overseas, we have seen countless numbers of jobs replaced by technology, we have seen countless numbers of jobs taken by immigrants and we have seen countless numbers of jobs lost to the overall decline of the once great U.S. economy. Unfortunately, even though we can all see this happening, our “leaders” have failed to come up with any solutions. And since there are so many of us that are desperate for jobs these days, employers know that they don’t have to pay as much. The balance of supply and demand in the employment marketplace has radically shifted in their favor. So less workers are getting health insurance these days, less workers are getting retirement plans and once you adjust for inflation our paychecks have been getting smaller for years. Needless to say, all of this is absolutely eviscerating the middle class. The following are 17 facts that prove that the quality of jobs in America is going down the drain…

40% of unemployed workers are millennials - New research reveals the growing problem of youth unemployment - Wall Street Journal Market Watch - Quentin Fottrell - July 5, 2014 - The jobs market is improving, according to government data released Thursday, but millennials are still left out in the cold. They’re suffering more than any other age group, new research finds.                          Some 40% of unemployed workers are millennials, according to an analysis of U.S. Census data by the Georgetown University Center on Education and the Workforce released to MarketWatch, greater than Generation X (37%) and baby boomers (23%). That equates to 4.6 million unemployed millennials — 2 million long-term — 4.2 million unemployed Xers and 2.5 million jobless baby boomers.

New report: Low wage jobs continue to hold North Carolina families back

- See more at:

Student loan forgiveness may be coming in the future - CNBC - Sharon Epperson - July 6, 2014 - For many members of the class of 2014 who borrowed money to attend college, the clock is ticking on what is likely to be their biggest expense after graduation.                          They'll have to start paying back their federal student loans in November or December—as the six-month grace period that lenders give new grads comes to an end. But depending on their income—or lack of income, if they're still looking for work—some borrowers may be eligible for much lower payments than they'd anticipated...                           The Consumer Financial Protection bureau estimates that one out of four American workers may be eligible for income-driven repayment or loan-forgiveness programs, but many graduates still are not aware of their options.                        The "Pay As You Earn" plan introduced by the Obama Administration caps a federal student loan borrower's payments at 10 percent of their income, and the balance will be forgiven after 20 years of on-time payments.                      Borrowers who opt for careers in the nonprofit or public sector could have loans forgiven in 10 years. However, this payment plan is only available to borrowers whose loans were disbursed on or after Oct. 1, 2007.                           Borrowers with older loans may be eligible for an income-based repayment plan, which caps monthly payments at 15 percent of your income. Payments change as your income changes, but may be forgiven after 25 years. Or they may qualify for income-contingent repayment plans, where payments are calculated each year based on your adjusted gross income, family size and the total amount of your federal loans.

Illegal immigrants already being released to neighborhood near you - Fox News - - Tori Richards - July 1, 2014 - Tens of thousands of immigrants who illegally crossed the Mexico border into Texas are in the process of being released into communities throughout the nation rather than being indefinitely detained or immediately deported, a congressman told                          The releases have already started and the Border Patrol did not disclose how many. At least 60,000 Central Americans have entered the country illegally this year, though some news reports say the figure is as high as 170,000. An effort is under way to place children in foster homes or with relatives already living in the U.S., said Rep. Louie Gohmert, R-Texas.                       The adults are being given a “notice to appear,” something like to a traffic ticket that requires they show up for a deportation hearing. Following that notice, they are simply being released. Those who return for the hearing will face a federal immigration judge to determine their fate...

Medical staff warned: Keep your mouths shut about illegal immigrants or face arrest - Fox News - Todd Starnes - July 2, 2014

Foodflation - Since QE3, Breakfast Is Up Over 24% - Zero Hedge - Tyler Durden - July 6,2014 - Having pointed out the 'surges' in the cost of your 4th of July burger at the behest of Greenspan and Bernanke, we thought a reflection on the soaring costs of 'the most important meal of the day' were in order. As the following chart illustrates in words and pictures even a PhD Fed economist or CNBC pretend-economist could understand - food-flation is here from breakfast through dinner (no matter how many iPads we try and eat).

North Carolina returns to CNBC's Top States for Business, claiming No. 5 spot - Charlotte Business Journal - Jen Wilson - June 24, 2014 - Call it a "Carolina Comeback," if you will. CNBC counted down its annual Top States for Business ranking throughout the day Tuesday, and North Carolina has reclaimed its place among the best.                    In fact, the Tar Heel State landed at No. 5 in the 2014 overall ranking, after falling out of the top 10 for the first time ever to rank No. 12 last year.                    "A year later, the state made a charge like one of its Panthers, pushing its way up to No. 5 — scoring a total of 1,569 points out of 2,500," an entry on the countdown post says. "North Carolina posted some powerful numbers, having the fourth-best economy as well as workforce — which is mostly nonunion. Last year, the Old North State's economy was 13th."                             CNBC credits the state's rise in part to "some substantial fiscal policy changes that have been made, such as a reduction in individual income and corporate tax."

New report: Low wage jobs continue to hold North Carolina families back - Progressive Pulse - Rob Schofield  - June 9, 2014 -
One in five North Carolina families earn too little to afford life’s essentials and move up the economic ladder. A North Carolina family of two adults and two children must earn $52,275 annually to afford housing, food, child care, health care, transportation, taxes and other necessities, based on the Budget & Tax Center’s Living Income Standard (LIS) for 2014.
More than a third of two-adult, two-children families in North Carolina earn less than that, and more than three-fourths of families with one adult and two children fall below the standard, which varies by family size.
People in families with incomes below the LIS are more likely to be women (59 percent), working age (56 percent), and have a high school degree or less (63 percent). Moreover, white North Carolinians are less likely to live under the LIS than North Carolinians of color. Nine percent of the total white population lives below the LIS while 23 percent of the total Latino population does and 14 percent of the African-American population does.
- See more at:

 The Chart that Foretells the Future of Humanity - Warren Pollock - June 30, 2014 - A single chart provides insight into the future and it also governs the very basis of all my analysis and thinking. In this presentation I share with you this universal chart, show you what to look for, and what to ignore and discount as something unimportant.

How to Fold A Fitted Sheet
- Most of us have, at one time or another, given up frustrated after the terrible ordeal of trying to fold a fitted sheet! LOL! Jill Cooper from shows you a step by step method to make this process easier in How to Fold A Fitted Sheet. BTW, If you're offended by the "one of the biggest challenges" joke in the beginning, you obviously need to lighten up... :-)

No comments: