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What We Read Today 09 October 2016

Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary "reading list" which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for "reading list" items are gratefully reviewed, although sometimes space limits the number included.

This feature is published every day late afternoon New York time. For early morning review of headlines see "The Early Bird" published every day in the early am at GEI News (membership not required for access to "The Early Bird".).

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Topics today include:

  • 5 Warning Signs You are Headed for a Personal Financial Disaster

  • Glasses to Keep Computer Screens from Destroying Your Eyes

  • Is California about to be Destroyed by a Killer Quake?

  • Latest on Matthew

  • What Would Happen in Felons Could Vote?

  • Racial and Ethnic Inequality in the U.S.

  • The Ever-Growing Wealth Gap in the U.S. Indicates Centuries Needed for Improvement

  • Russia Says U,S, Actions Threaten Its National Security

  • And More

Articles about events, conflicts and disease around the world

U.S.

  • Matthew no longer a hurricane, but still just as dangerous (CNN)  Matthew, the deadly storm that's spread misery from the Caribbean to the Carolinas, is no longer a hurricane. But it's still packing a powerful punch.  The storm whipped North Carolina Sunday morning, causing devastating, widespread flooding and still blasting powerful winds after killing at least 17 people in four states.  As of 2 p.m. Sunday Matthew was about 150 miles east of Cape Hatteras, North Carolina, and heading east at 15 mph.  Sig Silber is providing continuously updated storm reports at GEI.

matthew.2016.oct.09.441pm

  • What would happen if felons could vote in the US? (Quartz)  The United States is unique in how it handles voting rights for people convicted of a crime. The Fourteenth Amendment allows each state to make its own rules when it comes to granting them the right to vote. In some states, ex-offenders are essentially barred from voting for life. Only two states let prisoners vote. According to research conducted this year by the Sentencing Project, about 2.5% of the adult US population, 6.1 million voters, are disenfranchised because of a felony conviction. Because the US disproportionately convicts people of color, this sort of disenfranchisement can have crucial political and social consequences.  The variation among states is displayed below:

felon.disenfranchisement.map

  • The Bad News about Good Census Numbers (U.S. News & World Report)  Forty-three million people still live in poverty in the U.S., including 14.5 million children. According to an analysis of the U.S. Census data, black women still take home just 63 cents compared to a white man's dollar, and Latinas make a measly 54 cents per dollar.  In 2015, according to a new study by the Economic Policy Institute, the gap in hourly wage pay between white and black workers widened to nearly 27%, the widest racial pay gap in 40 years.  (See next article.)  Further, the racial wealth gap is the highest it's been in 30 years. Meanwhile, the richest Americans' wealth has grown by an average of 736%. That's 10 times the rate of wealth growth for the Latinos, and nearly 30 times the rate of growth for the black population, says a report by the Institute for Policy Studies.  (See second and third articles below.)  IPS' analysis further finds that by the year 2043, that huge chasm in wealth between white people and black and Latino people will double if we don't do something to change it. And to squeeze the last bit of helium out of that quickly deflating balloon celebrating new census data – median income for all but the richest 5 percent of Americans is still below pre-recession rates. 

  • Black-white wage gaps expand with rising wage inequality (Economic Policy Institute)

wealth.divide.color.1

wealth.divide.color.2

wealth.racial.demographics.1983.2013

Russia

  • Russia says U.S. actions threaten its national security (Reuters)  Russian Foreign Minister Sergei Lavrov said on Sunday he had detected increasing U.S. hostility towards Moscow and complained about what he said was a series of aggressive U.S. steps that threatened Russia's national security.  In an interview with Russian state TV likely to worsen already poor relations with Washington, Lavrov made it clear he blamed the Obama administration for what he described as a sharp deterioration in U.S.-Russia ties.

Other Scientific, Health, Political, Economics and Business Items of Note - plus Miscellanea

  1. You often borrow money from friends and relatives

  2. Bill collectors are calling you — and it’s not to say hi

  3. You rely heavily on credit

  4. You’re living paycheck to paycheck

  5. You tell financial lies

Click for larger image.


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