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23 votes
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America: a healthy or healthcare economy? The sickness at the heart of US GDP.
9 votes -
Economists report on an intervention that helps low-income families beat the poverty trap
17 votes -
Silicon Valley’s best kept secret: Founder liquidity
12 votes -
Alex Jones files for chapter 7 bankruptcy liquidation amid Sandy Hook debt
63 votes -
California insurance crisis: Angry Orinda homeowners want action
13 votes -
Elon Musk accused of massive insider trading at Tesla in shareholder lawsuit
35 votes -
Money laundering: Epoch Times CFO charged in alleged $67 million case
29 votes -
Supreme Court of the United States National Bank Act Preemption Ruling makes room for more state consumer protection regulations
5 votes -
Real estate agents are fleeing the field
30 votes -
US FDIC chair says he’ll leave job after toxic workplace report
11 votes -
Wisconsin pension fund now includes bitcoin
22 votes -
Synapse, backed by a16z, has collapsed
17 votes -
Failed Graceland sale by a mystery entity highlights attempts to take assets of older or dead people
21 votes -
SEC opens door for US Spot-Ether ETFs in landmark for crypto
5 votes -
Manhattan co-op in crisis spearheads push to cap land rent hikes
10 votes -
Why 295,000 businesses are in this little building
12 votes -
Jane Street [Capital] gets into mobile gaming
4 votes -
Exxon Mobil is suing its shareholders to silence them about global warming
33 votes -
Three North Koreans, one American accused by DOJ of ‘staggering fraud’ involving Fortune 500 companies
14 votes -
US President Joe Biden raises tariffs on $18 billion of Chinese imports: EVs, solar panels, batteries and more
23 votes -
Seattle’s law mandating higher pay for food delivery workers is a case study in backfire economics
18 votes -
Judge says up to twenty million fintech "depositors" are at risk from Synapse bankruptcy
9 votes -
The economics of $15 salads
11 votes -
Mortgage companies could intensify the next recession, US officials warn
24 votes -
The US Federal Reserve fears a bond meltdown
6 votes -
How private equity consumed America
26 votes -
San Francisco office sells for a stunning 90% discount from 2016 price
34 votes -
GDP per capita vs. the federal poverty rate over the years (observation and discussion)
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this. In the 1960s, America's GDP (per capita) was $3,000. Also, in 1960, the...
Fair warning, I'm a dummy trying to talk about stuff I don't fully understand, but I wanted to see others' thoughts on this.
In the 1960s, America's GDP (per capita) was $3,000.
Also, in 1960, the federal poverty limit was $3,000 for a family of four.In 2023, the GDP (per capita) was $82,034.
The federal poverty limit for a family of four in 2023 was $30,000.This can't be good for the American people. Unless I'm drawing comparisons between two completely unrelated things?
People who are barely in poverty today would have to earn ~2.7x the amount they earn to stay consistent with those who were barely in poverty in the 1960s if GDP and FPL were still equal to each other. So what about the families caught in the middle? Too high earnings to get help and too low to thrive? They just suffer, I guess.
Out of curiosity, I calculated what the thresholds would be if the percentages of GDP to FPL were swapped between 2023 and 1960.
1960s numbers adjusted if FPL matched 2023's percentage:
GDP=$3,000
FPL=$1,1111960s numbers adjusted if GDP matched the percentage comparison of 2023:
GDP=$8,100
FPL=$3,000Please let me know if it actually matters that the GDP per capita is 2.7x the federal poverty limit for a family of four. Also, let me know your thoughts.
8 votes -
Japan intervenes after Yen slides against the Dollar
20 votes -
Big Tech has slashed its office presence in San Francisco by half
22 votes -
New Jersey is motivating telecommuters to appeal their New York tax bills. Connecticut may be next.
13 votes -
Two SEC lawyers resign after agency censured for abuse of power in US crypto case
12 votes -
I grew up in Michigan but currently live in Georgia. My GF and I are looking at buying a house, and both states have first time home buyer incentives, but they're income based.
So we make about $100,000 combined, I make just shy of 70K and she makes about 30K. Both states have programs for first time homebuyers, but our incomes together prohibit us from qualifying,...
So we make about $100,000 combined, I make just shy of 70K and she makes about 30K.
Both states have programs for first time homebuyers, but our incomes together prohibit us from qualifying, whereas separately we both qualify.
Would it be considered fraud if I were to apply for one as myself, get the house in my name, but we both pay on it? I can't find anything on either page about it, but obviously we are not legally married.
11 votes -
Rents are the Federal Reserve’s ‘biggest stumbling block’ in taming US inflation
16 votes -
Inflation in times of overlapping emergencies: Systemically significant prices from an input–output perspective
7 votes -
There used to be a people’s bank at the US Post Office
37 votes -
How Hertz’s bet on Teslas went horribly sideways
36 votes -
Home insurance rates to rise 6% in 2024 after 20% increase in last two years
27 votes -
Insurers use aerial photos to check out roofs or to spot yard debris and undeclared trampolines
32 votes -
Kansas bank collapse due to executive caught in pig butchering investment scam from Asia
32 votes -
Disney shareholders officially reject Nelson Peltz’s board bid in big win for CEO Bob Iger
20 votes -
California store sells returned Amazon packages — still in the box
15 votes -
Retirement warning highlights fight over finance’s hardest problem
20 votes -
Fallen crypto mogul Sam Bankman-Fried sentenced to twenty-five years in US prison
54 votes -
Visa, Mastercard settle long-running antitrust suit over swipe fees with merchants
20 votes -
State Farm shedding 72,000 home insurance policies in California
29 votes -
US Federal Reserve’s Jerome Powell ready to support job market, even if it means lingering inflation
7 votes -
Sam Bankman-Fried repeatedly lied to get out of “supervillain” US prison term, FTX CEO alleges
32 votes -
Why the 2% inflation target?
29 votes