What I am Reading Today: California water problems, Chinese flexing, and finally killer political economic insights & revelations.
Political Economic Revelations
California continues to struggle with a solution to their water shortage. YES, I CALLED THIS HAPPENING. Farmers are selling portions of their water rights. Via Yapping Kit
Some news abroad coming to you from China. China has brought out their meter sticks recently (fellow Archer fans will appreciate that metric reference). Maybe I haven’t been following the Chinese enough, but I was very surprised to learn that they are building their national defense forces, hard. Not only that, they have been expanding out to surrounding islands to build and dock their Navy. They also have an “unsinkable” aircraft carrier. Anyways, the US had a plane fly over to check out what they were doing out in the South China Sea. Flying over international waters, China warned the US to get out immediately. 8 times. They’re probably just practicing their English? Via CNN
With the unemployment rate sitting at a solid 5.5%, why are so few people witnessing the supposed “recovery”? Here are a couple of reasons.
The declining unemployment rate means that either more people are getting jobs, or people in the workforce are backing out. As a recent college graduate, I can tell you first hand that even for us, finding work is not a walk in the park. Yes, jobs are slowly being created, and the “recovery” slugs on. But what about the people looking for jobs, but can’t find any? Currently, about eight million US citizens are jobless. Of these, 40% have given up looking for employment. The labor force participation rate mirrors this. Compounding this comes from drastically decreasing health care benefits, as well as retirement plan (cough, pensions) negative outlook. Full article on Via CNBC.
So we’re seeing the “recovery” being experienced somewhere other than the middle class. Sounds eerily similar to, uh, income inequality doesn’t it?
I won’t jump on that soapbox again. But I’d highly recommend you click on that link, learn as much as you can about it, and then watch this video that can relate income inequality with your favorite DC Boyz, Congress.
This video is incredible.