Only one over...

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"[Fraser Nelson] came across a striking fact while researching this piece: if Britain were to somehow leave the EU and join the US how would we rank? The answer is that we’d be the 2nd-poorest state in the union, poorer than Missouri. Poorer than the much-maligned Kansas and Alabama. Poorer than any state other than Mississippi, and if you take out the south east we’d be poorer than that too." Holy crap. In The Spectator today: Why Britain is poorer than any US state, other than Mississippi.

Only one over...

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"[Fraser Nelson] came across a striking fact while researching this piece: if Britain were to somehow leave the EU and join the US how would we rank? The answer is that we’d be the 2nd-poorest state in the union, poorer than Missouri. Poorer than the much-maligned Kansas and Alabama. Poorer than any state other than Mississippi, and if you take out the south east we’d be poorer than that too." Holy crap. In The Spectator today: Why Britain is poorer than any US state, other than Mississippi.

Oncoming obrogation II...

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Obama may be finally apologising (he'll be doing a whole lot more of that soon) for lies about medical insurance and the train-wreck that has been the 'Obamacare' roll-out but I think he may soon have more to worry about: Zero hedge has a post by Michael Snyder of The Economic Collapse blog with some startling facts and figures (all sourced) all about the gap between rich and poor, wealth imbalance etc in the US. Of course in the UK and elsewhere I am guessing similar things can be said but in the USA, as always, things seem so much more exacerbated.



Here is a couple that made me sit up:

• Nearly 40 percent of all American workers make less than $20,000 a year (before tax!). [US SSA]


• One out of every four American workers has a job that pays $10 an hour or less. [Economist's View]

Now looking at the graph (left: click to enlarge) you'll see the UK, Canada, Ireland and Germany all with one out of every five workers in the low-wage bracket but you'll know - at least in the UK - our lower wage bracket (worked in relation to median wage) is higher: the US figure is 25% of all workers on the equivalent of our minimum wage (currently £6.31/hour).



Update: also yesterday: "Senate Democrats, hoping to move beyond the disastrous rollout of the new health care law, plan to pivot to legislation that would increase the federal minimum wage by nearly $3, to over $10 an hour."

Oncoming obrogation II...

---

Obama may be finally apologising (he'll be doing a whole lot more of that soon) for lies about medical insurance and the train-wreck that has been the 'Obamacare' roll-out but I think he may soon have more to worry about: Zero hedge has a post by Michael Snyder of The Economic Collapse blog with some startling facts and figures (all sourced) all about the gap between rich and poor, wealth imbalance etc in the US. Of course in the UK and elsewhere I am guessing similar things can be said but in the USA, as always, things seem so much more exacerbated.

Here is a couple that made me sit up:

• Nearly 40 percent of all American workers make less than $20,000 a year (before tax!). [US SSA]
• One out of every four American workers has a job that pays $10 an hour or less. [Economist's View]

Now looking at the graph (left: click to enlarge) you'll see the UK, Canada, Ireland and Germany all with one out of every five workers in the low-wage bracket but you'll know - at least in the UK - our lower wage bracket (worked in relation to median wage) is higher: the US figure is 25% of all workers on the equivalent of our minimum wage (currently £6.31/hour).

Update: also yesterday: "Senate Democrats, hoping to move beyond the disastrous rollout of the new health care law, plan to pivot to legislation that would increase the federal minimum wage by nearly $3, to over $10 an hour."

Orinoco oblatration...

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The long-suffering Venezuelan people are poorer today, again. No surprise to hear that Venezuela has announced a (totally expected) currency devaluation (about 32%). Ah well, 22.2 percent [inflation] in January, increased foot shortages, verging on war-zone-like murder rates, gangster's paradise prisons...I could go on, the oil and gas industry producing less with far more employees; petrol and diesel are now being imported (wtf?!) yet oil now represents 96% of all exports; steel, aluminum, iron and bauxite industries on their knees. Corruption like you wouldn't believe (ironically the latest charges are against the opposition), not so good for business; oh and nepotism of course: Argenis Chavez (brother) is President of Corpoelec, the National Electric Corportation: Adan Chavez Frías is the governor of Barinas state in western Venezuela, and was Minister of Education (red education). Krusty's father Hugo de los Reyes Chavez was the previous governor of Barinas. Aníbal Jose Chavez is the current mayor of Sabaneta, Barinas; Krusty's cousin Asdrubal Chavez is Vice President of Refining for state oil company PDVSA...blah blah blah. And all the Chavernment sock puppet can do is waffle on like a child about the tricolour hat being his not Capriles'.



Update 9th Feb: another non-surprise: two months after he left: Krusty will not return...

Orinoco oblatration...

---

The long-suffering Venezuelan people are poorer today, again. No surprise to hear that Venezuela has announced a (totally expected) currency devaluation (about 32%). Ah well, 22.2 percent [inflation] in January, increased foot shortages, verging on war-zone-like murder rates, gangster's paradise prisons...I could go on, the oil and gas industry producing less with far more employees; petrol and diesel are now being imported (wtf?!) yet oil now represents 96% of all exports; steel, aluminum, iron and bauxite industries on their knees. Corruption like you wouldn't believe (ironically the latest charges are against the opposition), not so good for business; oh and nepotism of course: Argenis Chavez (brother) is President of Corpoelec, the National Electric Corportation: Adan Chavez Frías is the governor of Barinas state in western Venezuela, and was Minister of Education (red education). Krusty's father Hugo de los Reyes Chavez was the previous governor of Barinas. Aníbal Jose Chavez is the current mayor of Sabaneta, Barinas; Krusty's cousin Asdrubal Chavez is Vice President of Refining for state oil company PDVSA...blah blah blah. And all the Chavernment sock puppet can do is waffle on like a child about the tricolour hat being his not Capriles'.

Update 9th Feb: another non-surprise: two months after he left: Krusty will not return...