Tag Archives: Damn Kids

Teen Unemployment In Major U.S. Cities Tops 50%

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“Old timers often say that the young people in the U.S. today don’t have the work ethic of their predecessors. This may be true, but is this perceived weakness a symptom of a greater problem?  Has the opportunity for many young people to find employment diminished, and thus made it harder for them to learn the necessary work ethic on the job?  Before we try to answer that question, let’s examine some evidence from a new analysis by the Employment Policy Institute (EPI) that shows unemployment among teens without a high school diploma is greater than 50% in two very large cities.”

http://lionsofliberty.com/2014/06/03/teen-unemployment-in-major-u-s-cities-tops-50/

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Delinquent US student loans hit record high, over $100 billion past due

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“The number and value of overdue student loans has reached an all-time high in the US as nearly a third of 20- to 24-year-olds are currently unemployed, according to a report by the Department of Education.  With continued concern regarding rising college costs, the amount of outstanding student loans has now reached $1 trillion, making that the largest category of consumer debt in the US aside from home mortgages.  According to the new report, eleven per cent of school loans – one hundred and ten billion dollars’ worth – are now seriously delinquent, meaning at least 90 days past due.  Bloomberg reports the employment rate for college graduates in the US is 87 per cent.”

http://rt.com/usa/record-high-us-student-debt-775/

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Bill Bonner: What Do Bond Investors Know That Stock Investors Don’t?

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“Your Rogue Economist entered the labor force when he was 14.  Thereafter, he was either in school or at work. He worked as an usher, a dishwasher, a carpenter’s helper, a mason, a painter, a truck driver, a teacher. It never took more than a day or two to find a job.  Times have changed. Now, it’s much harder to get on the bottom rung.  And according to the Financial Times, things aren’t much better for those on the economic ladder. If they are lucky enough to get a foothold… and eventually climb their way into the middle class… they will earn, on average, about as much as a middle-class wage earner a half a century ago!  How’s that for something to look forward to?”

http://www.bonnerandpartners.com/what-do-bond-investors-know-that-stock-investors-dont/

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$200 to set up a lemonade stand in Illinois is ‘insane’: senator

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“It could soon cost $200 for kids to set up a lemonade stand, have a bake sale or sell cupcakes in Illinois.  ‘This is absolutely insane!’ State Senator Jim Oberweis (R-Aurora) said. ‘Somebody in Madison County went crazy and decided to enforce a law against an 11 year old kid who was baking cupcakes. That was a mistake, but it happened.’  A law that [would have exempted] up to $1000 in sales [was amended] to require anyone selling food products to take an 8 hour food service sanitation course costing $145, obtain a county health department permit costing $25, label the food products to indicate ingredients and the fact that they are homemade, plus another $35 fee.”

http://illinoisreview.typepad.com/illinoisreview/2014/05/200-to-set-up-a-lemonade-stand-in-illinois.html

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Are you part of the ‘pay-as-you-live’ generation?

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“In late 2012 the venture capitalist and digital analyst Mary Meeker was among the first to identify what she labelled ‘the asset-light generation’, who access documents, music, film and other media digitally, rather than in some material form. Meeker also alluded to the sharing economy – also known as the ‘pay-as-you-live’ market – as evidence that consumers are increasingly preoccupied with ‘access’ rather than ‘ownership’. And it is everywhere, manifest in the success of companies such as Zipcar, Spotify, Girl Meets Dress and Airbnb, where individuals rent out spare rooms or their homes to total (albeit ID-vetted) strangers via a central search engine.”

http://www.telegraph.co.uk/women/womens-life/10810304/Are-you-part-of-the-pay-as-you-live-generation.html

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FBI ‘Grappling’ With Hiring Policy Because Top Hackers Smoke Pot

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“FBI Director James B. Comey said Monday that if the FBI hopes to continue to keep pace with cyber criminals, the organization may have to loosen up its no-tolerance policy for hiring those who like to smoke marijuana.  Congress has authorized the FBI to add 2,000 personnel to its rolls this year, and many of those new recruits will be assigned to tackle cyber crimes, a growing priority for the agency. And that’s a problem, Mr. Comey told the White Collar Crime Institute, an annual conference held at the New York City Bar Association in Manhattan. A lot of the nation’s top computer programmers and hacking gurus are also fond of marijuana.”

http://blogs.wsj.com/law/2014/05/20/director-comey-fbi-grappling-with-hiring-policy-concerning-marijuana/

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MIT club giving every undergrad $100 in bitcoin

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“A club at MIT wants to see what will happen when an entire community has access to a digital currency, and to find out, it plans to give every undergraduate student on campus $100 worth of bitcoin this fall. The MIT Bitcoin Club says that it’s raised a half million dollars from alumni and the bitcoin community, which it plans to use to cover the cost of bitcoin for the campus’ more than 4,500 undergrads and to finance informational programs about bitcoin. The group also plans to work with researchers on campus to study how students are using the new currency.”

http://www.theverge.com/2014/4/29/5664512/mit-club-giving-100-usd-in-bitcoin-to-all-undergrads

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Why I Sued the U.S. Government 28 Years Ago and What I Learned

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“My name is Will Bonner.  In 1986, at the age of seven years old, I took the US Secretary of the Treasury, James A. Baker, to federal court over the US national debt.  When I was seven years old, I took James A Baker, former US Secretary of the Treasury, to court… over the US national debt.  I wasn’t looking for a big cash payday.  I was asking the court to prevent Mr. Baker and the United States Treasury from getting away with the biggest rip-off in history… a policy most people don’t understand or like to talk about… but one that I believed would ruin this country… And I wish I was writing to you to tell you that I had been successful… that I had stopped it.  But it didn’t turn out that way.”

http://pro.bonnerandpartners.com/0514BBWUNSBPP/EBBWQ532

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Suit Goes To Bat For Future Taxpayers [1986]

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“A lawsuit supported by the National Taxpayers Union and two state attorney generals has been filed on behalf of 60 million children, charging that deficit spending benefits today`s adults at the expense of youth who will have to bear the future burden.  The novel suit names Treasury Secretary James Baker as the defendant, and it seeks to enjoin Baker from issuing any new instruments of federal debt except in certain instances and to compel the establishment of a schedule to reduce the deficit.  It also argued that by forcing children to assume responsibility of debts now incurred by fiscally irresponsible adults, children are being denied equal protection of the laws under the 5th Amendment.”

http://articles.chicagotribune.com/1986-01-16/news/8601040962_1_federal-court-debt-national-taxpayers-union

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Holder Admits, Calls For Rollback Of ‘Excessive’ Use Of Juvenile Solitary

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“Attorney General Eric Holder called for an end to ‘excessive’ use of solitary confinement in juvenile facilities on Wednesday, saying that the practice ‘can be dangerous, and a serious impediment to the ability of juveniles to succeed once released.’  DOJ has previously taken action against juvenile correctional facilities in Ohio and California, and Holder said the Justice Department has received reports ‘of young people who have been held in solitary confinement for up to 23 hours a day, often with no human interaction at all.’ In some cases, Holder said, ‘children were held in small rooms with windows that were barely the width of their own hands.'”

http://www.huffingtonpost.com/2014/05/14/holder-solitary-confinement_n_5324768.html

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