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Biden Raises Refugee Cap Far Above Trump's Limit : NPR - 0 views

  • President Biden announced on Monday that the administration is raising the cap on refugee admissions to 62,500 for the fiscal year, far above the 15,000 limit set by the previous administration, but below an earlier campaign promise.
  • Biden acknowledged in his Monday statement that the level of 62,500 will not be met in reality.
  • But Biden vowed to reach his goal of 125,000 refugee admissions in the coming fiscal year.
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Trillion-Dollar Company: Google Reaches Milestone in Market Value - The New York Times - 0 views

  • When it filed to go public in 2004, it said it planned to raise $2,718,281,828, which was the sum of multiplying $1 billion with the mathematical constant “e.”
  • And in 2015 when it reorganized under a parent entity called Alphabet, it announced it would buy back shares worth $5,099,019,513.59, a figure derived from the square root of 26 — the number of letters in the alphabet.
  • The market cap of Alphabet vaulted above $1 trillion for the first time. That made it the fourth technology company — after Apple, Amazon and Microsoft over the past two years — to pass this once unimaginable valuation.
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  • The Silicon Valley giant is bidding adieu to its founders, Larry Page and Sergey Brin, whose love of math and disregard for Wall Street once embodied Google’s free spirit. Mr. Page, 46, and Mr. Brin, 46, said last month that they would step down from their executive roles.
  • Google has also crammed more advertising onto the top of search results and squeezed money out of businesses like YouTube
  • Google faces other challenges. Regulators and lawmakers around the world are scrutinizing the company for vacuuming up people’s private information and chilling the technology landscape with its market dominance.
  • For all the changes facing Google, one constant has remained: It is essentially the sole proprietor of the internet’s most lucrative business. Google search is the on-ramp to much of the internet, and placing advertising next to key search terms is a necessity for most businesses, who risk forgoing traffic to a competitor.
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Trump's suspension from Twitter caps an online revolt against him. - The New York Times - 0 views

  • Twitter said on Friday that it had permanently suspended President Trump from its service “due to the risk of further incitement for violence,” effectively cutting him off from his favorite method of communicating with the public and capping a series of actions by mainstream sites to limit his online reach.
  • “After close review of recent Tweets from the @realDonaldTrump account and the context around them — specifically how they are being received and interpreted on and off Twitter — we have permanently suspended the account due to the risk of further incitement of violence.”
  • It concluded that Mr. Trump’s tweets since Wednesday’s attack were “likely to inspire others to replicate the violent acts that took place on Jan. 6, 2021, and that there are multiple indicators that they are being received and understood as encouragement to do so.”
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  • A day earlier, Facebook had barred Mr. Trump for the rest of his term, and other digital platforms — including Snapchat, YouTube, Twitch and Reddit — also recently limited Mr. Trump on their services.

Welcome to the blah blah blah economy - 0 views

started by Javier E on 17 Dec 22 no follow-up yet
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Andrew Sullivan Liveblogs the RNC, Night 1 - 0 views

  • mulling over the events tonight, there’s one obvious stand-out. I didn’t hear any specific policy proposals to tackle clearly stated public problems. It is almost as if governing, for the Republican right, is fundamentally about an attitude, rather than about experience or practicality or reasoning. The degeneracy of conservatism – its descent into literally mindless appeals to tribalism and fear and hatred – was on full display.
  • You might also say the same about the religious right, the members of whom have eagerly embraced a racist, a nativist, a believer in war crimes, and a lover of the tyrants that conservatism once defined itself against. Their movement long lost any claim to a serious Christian conscience. But that they would so readily embrace such an unreconstructed pagan is indeed a revelation.
  • If you think of the conservative movement as beginning in 1964 and climaxing in the 1990s, then the era we are now in is suffering from a cancer of the mind and the soul. That the GOP has finally found a creature that can personify these urges to purge, a man for whom the word “shameless” could have been invented, a bully and a creep, a liar and cheat, a con man and wannabe tyrant, a dedicated loather of individual liberty, and an opponent of the pricelessly important conventions of liberal democracy is perhaps a fitting end. This is the gutter, ladies and gentlemen, and it runs into a sewer. May what’s left of conservatism be carried out to sea.
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Military Expects More Shopping Money, if Not All Trump Seeks - The New York Times - 0 views

  • ping Money, if Not All Trump Seeks
  • Over the next two weeks, the military services will be scrambling to get their wish lists in front of top defense officials, hoping their requests for more troops, planes, ships and missiles will be stuffed into President Trump’s proposed $54 billion increase in the Pentagon budget.
  • Never mind that Congress is unlikely to approve the full amount. Or that it is not clear if the Pentagon, which views Russia as the biggest threat, and the new president, who is mainly focused on defeating the Islamic State, agree on the priorities.
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  • The services are betting that Mr. Trump will eventually win a large enough chunk of the money so that they can do a bit of everything, like reversing recent declines in the number of soldiers and Marines and breaking logjams over how many high-tech jets and ships they can afford to build.
  • “In the end, I think the budget caps will be adjusted upward again,” he said, “and we might get an uneven deal where the caps are higher for defense than for the domestic programs.”
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Hotter than Paul Ryan: Candidates Ignore an Arctic Disaster : The New Yorker - 1 views

  • the National Snow and Ice Data Center, in Boulder, Colorado, announced that the Arctic sea ice had reached a new low. The sea ice shrinks in the summer and grows again during winter’s long polar night. It usually reaches its minimum extent in mid-September. On September 16, 2012, the N.S.I.D.C. reported, the sea ice covered 1.3 million square miles. This was just half of its average extent during the nineteen-eighties and nineties, and nearly twenty per cent less than its extent in 2007, the previous record-low year.
  • It would be difficult to overstate the significance of this development. We are now seeing changes occur in a matter of years that, in the normal geological scheme of things, should take thousands, even millions of times longer than that. On the basis of the 2012 melt season, one of the world’s leading experts on the Arctic ice cap, Peter Wadhams, of Cambridge University, has predicted that the Arctic Ocean will be entirely ice-free in summer by 2016. Since open water absorbs sunlight, while ice tends to reflect it, this will accelerate global warming. Meanwhile, recent research suggests that the melting of the Arctic ice cap will have, and indeed is probably already having, a profound effect on the U.S. and Europe, making extreme weather events much more likely. As Jennifer Francis, a scientist at Rutgers, observed recently in a conference call with reporters, the loss of sea ice changes the dynamics of the entire system: “It’s like having a new energy source for the atmosphere.”
  • Representative Paul Ryan’s fitness routine—he’s a big fan of what’s known as the P90X workout plan—has received three times as much television coverage as the ice loss
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  • You might have thought that with the Arctic melting, the U.S. in the midst of what will almost certainly be the warmest year on record, and more than sixty per cent of the lower forty-eight states experiencing “moderate to exceptional” drought, at least one of the candidates would feel compelled to speak out about the issue. If that’s the case, though, you probably live in a different country.
  • “President Obama promised to begin to slow the rise of the oceans,” Romney declared in his convention speech in Tampa, pausing here to give the audience time to chuckle, “and to heal the planet. My promise is to help you and your family.
  • Obama at least got exercised enough to point out, in his convention speech, that “climate change is not a hoax.”
  • But that was as far as he was willing to go: no more grandiose claims about actually taking action.
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What American Healthcare Can Learn From Germany - Olga Khazan - The Atlantic - 0 views

  • Every German resident must belong to a sickness fund, and in turn the funds must insure all comers. They’re also mandated to cover a standard set of benefits, which includes most procedures and medications. Workers pay half the cost of their sickness fund insurance, and employers pay the rest. The German government foots the bill for the unemployed and for children. There are also limits on out-of-pocket expenses, so it’s rare for a German to go into debt because of medical bills.
  • this is very similar to the health-insurance regime that Americans are now living under, now that the Affordable Care Act is four years old and a few days past its first enrollment deadline.
  • There are, of course, a few key differences. Co-pays in the German system are minuscule, about 10 euros per visit. Even those for hospital stays are laughably small by American standards: Sam payed 40 euro for a three-day stay for a minor operation a few years ago
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  • nearly five million Americans fall into what’s called the “Medicaid gap”
  • In Germany, employees' premiums are a percentage of their incomes, so low-wage workers simply pay rock-bottom insurance rates.
  • Germany actually pioneered this type of insurance—it all started when Otto von Bismarck signed his Health Insurance Bill of 1883 into law. (It’s still known as the “Bismarck model” because of his legacy, and other parts of Europe and Asia have adopted it over the years.)
  • You can think of this setup as the Goldilocks option among all of the possible ways governments can insure health. It's not as radical as single-payer models like the U.K.’s, where the government covers everyone. And it's also not as brutal as the less-regulated version of the insurance market we had before the ACA.
  • Since there are no provider networks in Germany, doctors don’t know what other providers patients have seen, so there are few ways to limit repeat procedures.
  • All things considered, it’s good to be a sick German. There are no network limitations, so people can see any doctor they want. There are no deductibles, so Germans have no fear of spending hundreds before their insurance ever kicks in.
  • There’s also no money that changes hands during a medical appointment. Patients show their insurance card at the doctor’s office, and the doctors' association pays the doctor using money from the sickness funds. "You don’t have to sit at home and sort through invoices or wonder if you overlooked fine print,”
  • That insurance card, by the way, is good for hospital visits anywhere in Europe.
  • of all of the countries studied, Germans were the most likely to be able to get a same-day or next-day appointment and to hear back from a doctor quickly if they had a question. They rarely use emergency rooms, and they can access doctors after-hours with ease.
  • And Germany manages to put its health-care dollars to relatively good use: For each $100 it spends on healthcare, it extends life by about four months, according to a recent analysis in the American Journal of Public Health. In the U.S., one of the worst-performing nations in the ranking, each $100 spent on healthcare resulted in only a couple of extra weeks of longevity.
  • those differences aside, it’s fair to say the U.S. is moving in the direction of systems like Germany’s—multi-payer, compulsory, employer-based, highly regulated, and fee-for-service.
  • The German government is similarly trying to push more people into “family physician” programs, in which just one doctor would serve as a gatekeeper.
  • like the U.S., Germany may see a shortage of primary-care doctors in the near future, both because primary-care doctors there don’t get paid as much as specialists, and because entrenched norms have prevented physician assistants from shouldering more responsibility
  • With limitations on how much they can charge, German doctors and hospitals instead try to pump up their earnings by performing as many procedures as possible, just like American providers do.
  • Similarly, “In Germany, it will always be an operation,” Göpffarth said. “Meanwhile, France and the U.K. tend to try drugs first and operations later.”
  • With few resource constraints, healthcare systems like America's and Germany's tend to go with the most expensive treatment option possible. An American might find himself in an MRI machine for a headache that a British doctor would have treated with an aspirin and a smile.
  • Perhaps the biggest difference between our two approaches is the extent to which Germany has managed to rein in the cost of healthcare for consumers. Prices for procedures there are lower and more uniform because doctors’ associations negotiate their fees directly with all of the sickness funds in each state. That's part of the reason why an appendectomy costs $3,093 in Germany, but $13,000 in the U.S.
  • Now, Maryland is going a step further still, having just launched a plan to cap the amount each hospital can spend, total, each year. The state's hospital spending growth will be limited to 3.58 percent for the next five years. “We know that right now, the more [doctors] do, the more they get paid,” John Colmers, executive director of Maryland’s Health Services Cost Review Commission, told me. “We want to say, ‘The better you do, the better you get paid.’”
  • certain U.S. states have tried a more German strategy, attempting to keep costs low by setting prices across the board. Maryland, for example, has been regulating how much all of the state’s hospitals can charge since 1977. A 2009 study published in Health Affairs found that we would have saved $2 trillion if the entire country’s health costs had grown at the same rate as Maryland’s over the past three decades.
  • “In Germany, there is a uniform fee schedule for all physicians that work under the social code,” Schlette said. “There’s a huge catalogue where they determine meticulously how much is billed for each procedure. That’s like the Bible.”
  • “The red states are unlikely to follow their lead. The notion that government may be a big part of the solution, instead of the problem, is anathema, and Republican controlled legislatures, and their governors, would find it too substantial a conflict to pursue with any vigor.”
  • no other state has Maryland’s uniform, German-style payment system in place, “so Maryland starts the race nine paces ahead of the other 46 states,” McDonough said.
  • the unique spirit of each country is what ultimately gets in its way. Germany’s more orderly system can be too rigid for experimentation. And America’s free-for-all, where hospitals and doctors all charge different amounts, is great for innovation but too chaotic to make payment reforms stick.
  • rising health costs will continue to be the main problem for Americans as we launch into our more Bismarckian system. “The main challenge you’ll have is price control,” he said. “You have subsidies in health exchanges now, so for the first time, the federal budget is really involved in health expenditure increases in the commercial market. In order to keep your federal budget under control, you’ll have to control prices.”
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With Uber, Less Reason to Own a Car - NYTimes.com - 0 views

  • if Uber and its ride-sharing competitors succeed, it wouldn’t be a stretch to see many small and midsize cities become transportation nirvanas on the order of Manhattan — places where forgoing car ownership isn’t just an outré lifestyle choice, but the preferred way to live.
  • “In many cities and even suburbs, it’s becoming much easier to organize your life car-free or car-lite,” said David A. King, an assistant professor of urban planning at Columbia University who studies technology and transportation. By car-lite, Dr. King means that instead of having one car for every driver, households can increasingly get by with owning just a single vehicle, thanks in part to tech-enabled services like Uber.
  • car-sharing services like Zipcar and bike-sharing services have already led to a significant net reduction of car ownership among users.
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  • though you may think of taxis as a competitor to subways and buses, several studies have found just the opposite.
  • The richest Americans do use taxis more often than middle-class Americans, but so do the poorest Americans, who rely heavily on taxis for trips that aren’t practical through public transportation — shopping trips that involve heavy parcels that wouldn’t be convenient to take on the bus, say, or a ride back home after a medical procedure.
  • Taxis and other car services are usually seen as the province of the rich, but that’s only partly true, studies show.
  • many taxi trips are “multimodal,” meaning that riders mix taxis with other forms of transportation. For instance, people from other boroughs might get to Manhattan by train, and then use cabs to return home late at night.
  • “The one-way travel of taxis allows people to use transit, share rides and otherwise travel without a car,” the researchers wrote. “In this way taxis act as a complement to these other modes and help discourage auto ownership and use.”
  • There’s only one problem with taxis: In most American cities, Dr. King found, there just aren’t enough of them. Taxi service is generally capped by regulation, and in many cities the number of taxis has not been increased substantially in decades
  • Ride-sharing services solve this problem in two ways. First, they substantially increase the supply of for-hire vehicles on the road, which puts downward pressure on prices. As critics say, Uber and other services do this by essentially evading regulations that cap taxis. This has led to intense skirmishes with regulators
  • But Uber has done more than increase the supply of cars in the taxi market. Thanks to technology, it has also improved their utility and efficiency. By monitoring ridership, Uber can smartly allocate cars in places of high demand, and by connecting with users’ phones, it has automated the paying process. When you’re done with an Uber ride, you just leave the car; there’s no fiddling with a credit card and no tipping. Even better, there’s no parking.
  • Compared with that kind of convenience, a car that you own — which you have to park, fill up, fix, insure, clean and pay for whether you use it or not — begins to seem like kind of a drag.
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Republicans for Campaign-Finance Reform: Lindsey Graham, Chris Christie, and Ted Cruz -... - 0 views

  • “I’ve told my six-year-old daughter, ‘Running for office is real simple: you just surgically disconnect your shame sensor,’” he said. “Because you spend every day asking people for money.
  • Starting with the attack on the McCain-Feingold campaign-finance law in 2003, opponents have won an accelerating series of victories against similar laws. The result has completely changed the world of campaign finance. Citizens United struck down limits on independent expenditures. SpeechNow made it possible for contributions to be largely hidden. Aggregate limits on personal contributions were swept away by McCutcheon v. FEC in 2014
  • even as it fails to rise to the top of most voters' agendas, majorities of Democrats, Republicans, and independents have voiced concern about the corrupting influence of money in polls, and the public generally supports spending caps.
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  • The Koch brothers have put together a coalition that intends to spend almost $1 billion in 2016. Some donors complained after McCutcheon that they'd no longer be able to hide behind limits when they didn't want to give, but the overall landscape has clearly shifted toward those writing the checks.
  • Members of Congress get the shaft, too, spending up to 12 hours a day dialing for dollars. The simple drag of having to do all that seems like a potent reason for candidates to push back
  • For extremely wealthy donors who want to elect candidates and influence issues, their newfound power is a godsend. After spending $92 million on super PACs in 2012, Sheldon Adelson can summon any Republican candidate he wants and has their ears to discuss Israel, his pet issue.
  • The candidates who are doing best at fundraising, or for whom super PACs are likely to raise money effectively, are staying tactfully quiet on the issue.
  • she also called last week for a constitutional amendment to create limits or mandate transparency for campaign cash.
  • Peter Schweizer has excited the political world with allegations of quid pro quos, in which foreign governments gave to the Clinton Foundation and Hillary Clinton, then serving as secretary of state, did them favors—essentially alleging bribery in foreign affairs
  • Shadowy organizations funded by multimillionaires, many of which scrupulously cover up their sources of donations, are going to pour huge amounts of money into trying to sway the democratic process—all in an attempt to prove that huge, insufficiently transparent infusions of cash from wealthy donors can corrupt a public servant’s policy decisions. Is this irony lost on the donors and the candidates they back, or does it simply not bother them?
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Industrial farming is one of the worst crimes in history | Books | The Guardian - 0 views

  • Animals are the main victims of history, and the treatment of domesticated animals in industrial farms is perhaps the worst crime in history.
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Fully dressed and preserved 350-year-old corpse of French noblewoman found | World news... - 0 views

  • 17th century widow Louise de Quengo, wearing her shoes and cap, was found along with heart of her husband in lead coffin
  • French archaeologists have uncovered the well-preserved body of a noblewoman who died 350 years ago – along with the clothes in which she was buried, including her cap and shoes, still intact.
  • The corpse of Louise de Quengo, a widow from an aristocratic family from Brittany, was discovered in an hermetically sealed lead coffin placed in a stone tomb at a convent chapel in the western city of Rennes.
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  • The corpse, uncovered in 2014, will be reburied in Rennes later in 2015, archaeologists have said. De Quengo’s clothes and shoes have been restored and are expected to be put on display. Colleter said: “As archaeologists we are used to finding interesting things, but this is the sort of find that happened once in a career. It’s a dream to find something so exceptional, so unu
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Tax Cuts Are the Glue Holding a Fractured Republican Party Together - The New York Times - 0 views

  • The Republican tax plan is a bit like having a baby to save a failing marriage.
  • With divisions roiling the party, the prospect of a once-in-a-generation bill to cut taxes on businesses and individuals increasingly appears to be the last, best hope for a fractured establishment desperate to find common ground and advance an effort it has long championed as the pinnacle of Republican orthodoxy.
  • a top House Republican said that changes to retirement savings were still being considered, even after Mr. Trump declared Monday that “there will be NO change to your 401(k).”
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  • The lawmaker, Representative Kevin Brady of Texas, the chairman of the House Ways and Means Committee, defended a proposal to dramatically lower the cap on tax-free 401(k) contributions, indicating that there are better ways to encourage the bulk of American workers to save.
  • “Right now, we are not a nation of savers,” he said, adding at a breakfast convened by The Christian Science Monitor, “We think in tax reform we can create incentives for Americans to save more and save sooner.”
  • Lowering the cap would be unlikely to encourage more savings, research suggests, but they would amount to an accounting maneuver that would help Republicans make up some of the lost revenue from large cuts to business tax rates.
  • Republican leaders retreated to the only safe ground they have left: a partisan, fast-tracked tax bill, which party leaders hope to introduce next week in the House and deliver to Mr. Trump’s desk by Christmas.
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A third of Himalayan ice cap doomed, finds report | Environment | The Guardian - 0 views

  • At least a third of the huge ice fields in Asia’s towering mountain chain are doomed to melt due to climate change, according to a landmark report, with serious consequences for almost 2 billion people. Even if carbon emissions are dramatically and rapidly cut and succeed in limiting global warming to 1.5C, 36% of the glaciers along in the Hindu Kush and Himalaya range will have gone by 2100. If emissions are not cut, the loss soars to two-thirds, the report found.
  • The glaciers are a critical water store for the 250 million people who live in the Hindu Kush-Himalaya (HKH) region, and 1.65 billion people rely on the great rivers that flow from the peaks into India, Pakistan, China and other nations.
  • Until recently the impact of climate change on the ice in the HKH region was uncertain, said Wester. “But we really do know enough now to take action, and action is urgently needed,” he added.
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  • The HKH region runs from Afghanistan to Myanmar and is the planet’s “third pole”, harbouring more ice than anywhere outside Arctic and Antarctica.
  • Limiting the global temperature rise to 1.5C above pre-industrial levels requires cutting emissions to zero by 2050. This is felt to be extremely optimistic by many but still sees a third of the ice lost, according to the report. If the global rise is 2C, half of the glaciers are projected to melt away by 2100
  • from the 2060s, river flows will go into decline. The Indus and central Asian rivers will be most affected. “Those areas will be hard hit,” said Wester.
  • the most serious impact will be on farmers in the foothills and downstream
  • the monsoon is also becoming more erratic and prone to extreme downpours. “One-in-100 year floods are starting to happen every 50 years,” he said.
  • Political tensions between neighbouring nations such as India and Pakistan could add to the difficulties. “There are rocky times ahead for the region. Because many of the disasters and sudden changes will play out across country borders, conflict among the region’s countries could easily flare up,”
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Banks Look to Break Government's Hold on Student-Loan Market - WSJ - 0 views

  • Private lenders are pushing to break up the government’s near monopoly in the $100 billion-a-year student-loan market.
  • The banking industry’s main lobbying group, the Consumer Bankers Association, is pressing for the government to instate caps on how much individual graduate students and parents of undergraduates can borrow from the government to cover tuition. That would force many families to turn to private lenders to cover portions of their bills. While that could mean lower interest rates for some, it could constrain funding to households with blemished credit histories.
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      Private Lenders boom because of the CBA's pressure for the government to instate caps on student loan.
  • At stake is potentially billions of dollars in new business for private lenders, a group currently dominated by SLM Corp. , better known as Sallie Mae, Wells Fargo & Co., and Discover Financial Services .
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  • Private lenders pushed for legislative changes in previous years to no avail, but now they’re receiving a more welcome reception from congressional Republicans and the Trump administration.
  • House Republicans, looking to revamp higher-education policies for the first time in a decade,
  • Private student lending has fallen in part because banks tightened underwriting standards after the 2007-2009 financial crisis. It also has dropped because of moves by Congress to allow students to borrow more directly from the government. Starting in 2006, most graduate students have been able to borrow unlimited amounts. Parents also face no restrictions on how much they can borrow under the Parent Plus program.
  • Promoting Real Opportunity, Success, and Prosperity through Education Reform, or Prosper, Act—calls for limits on the total federal student-loan amounts certain borrowers can receive. Many graduate students wouldn’t be able to borrow more than $150,000 in total federal loans for undergraduate and graduate studies. Parents in many cases would be limited to around $56,000 per dependent.
  • Critics say some of the industry’s proposals would hurt taxpayers and students who lack the credit to qualify for private-sector loans. Some schools and student advocates add that setting stricter dollar limits on federal loans would limit many students from attending schools of their choice.
  • Pushing more students to borrow private loans from banks without consumer protections is a terrible idea.”
  • has led to high default rates, runaway tuition inflation and taxpayer costs.
  • What we don’t want to see is continued nearly unlimited lending that has been fueling a rise in tuition costs,
  • Private student lenders target the most creditworthy borrowers. That includes parents of undergraduate students and graduate students with an established history of paying debts on time.
  • Several private lenders are offering lower interest rates than what the federal government charges the most creditworthy borrowers. And unlike federal loans, most private loans don’t charge an origination fee when borrowers sign up for the loan.
  • The government relies on interest payments from creditworthy borrowers to offset the money it loses on defaults from other borrowers and thereby keep the federal loan program solvent.
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    CBA and House Republicns proposed to set a upper limit for Student Loan, for booming private lenders, reducing tuition inflation and reducing untrustworthy detors. Which may require students to have high debt credibility.
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Spring Home Sales Could Be the Weakest in Years - WSJ - 0 views

  • The culprits: rising mortgage rates, a tax bill that reduces the incentives for homeownership and a growing weariness among first-buyers being priced out of the market—all of which are expected to damp demand for homes this year.
  • “It’s still going to be a tight market, but we’re moving from an extremely tight market to one that has some wiggle room around the edges for buyers,” said Daren Blomquist, a senior vice president at the housing-research firm Attom Data Solutions.
  • Lawrence Yun, chief economist at the National Association of Realtors, said he expects sales to be flat this spring from a year earlier. Roughly 2.06 million homes were sold between March and June 2017, up from about 2 million in the same period a year earlier, according to the National Association of Realtors.
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  • Mr. Yun predicts sales will remain flat for all of 2018, due to inventory shortages and eroding affordability, as both prices and mortgage rates rise.
  • A homeowner with a median-priced home in the San Francisco area will receive $4,500 less in housing-related tax benefits in the first year of a 30-year mortgage this year, according to real-estate data company Apartment List. A homeowner in the same position in the New York metro area would receive $1,500 less annually.
  • Weakness at the high end is being driven by stock market volatility and the $10,000 cap the tax bill placed on deducting state and local property taxes
  • “People are being a little more cautious than they were before,” Mr. Glazer said. “Buyers have a number in mind, and they’re willing to stick their ground more than in the past.”
  • Kalena Masching, a Redfin agent in Silicon Valley, said she has seen a pickup in activity in recent weeks as buyers and sellers have digested the implications of the tax bill. Buyers are putting down larger down payments to bring the size of their mortgages below the new $750,000 cap. But that could be a challenge if the stock market continues to fluctuate, because buyers might want to hold on to more of their cash
  • s. Masching said she is also hearing more from older buyers who are thinking about selling their homes and using the proceeds to retire out of state, prompted in part by the changes to the tax law
  • “I’m hoping it’s going to be better. We never got any inventory last year,” said Ms. Masching. “The big concern for our sellers is: Where are they going to go?”
  • Rhian Daniel, a 50 year old who works for a medical startup, and his wife have been looking for a home for about four years, both in the Bay Area and further afield. The couple have largely given up for the moment, and are considering eventually moving to a place like Dallas, with lower home prices and property taxes.
  • Mr. Daniel’s wife is a therapist, and they both have student debt that limits the size of the mortgage they can get.
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Medical schools shouldn't divorce education from politics - 0 views

  • M any medical schools don’t encourage political thought in their students, far less nurture it. That’s a shame because it squanders an opportunity to equip future thought leaders to deal with serious concerns facing the U.S. population, many of which have their tentacles in politics.
  • Politics is the way that civilized societies are supposed to decide how limited resources should be distributed. It makes sense, then, to say that health care is a political issue.
  • What good is teaching medical students to recommend treatments that patients won’t use because they can’t afford them?
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Senate Leaders Reach Budget Deal to Raise Spending Over Two Years - The New York Times - 0 views

  • Senate leaders struck a far-reaching bipartisan agreement on Wednesday that would add hundreds of billions of dollars to military and domestic programs over the next two years while raising the federal debt limit, moving to end the cycle of fiscal showdowns that have roiled the Capitol.
  • The accord between Senators Mitch McConnell of Kentucky, the majority leader, and Chuck Schumer of New York, his Democratic counterpart, would raise strict caps on military and domestic spending that were imposed in 2011 as part of a deal with President Barack Obama that was once seen as a key triumph for Republicans in Congress.
  • The deal would raise the spending caps by about $300 billion over two years.
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  • The limit on military spending would be increased by $80 billion in the current fiscal year and $85 billion in the next year, which begins Oct. 1.
  • The limit on nondefense spending would increase by $63 billion this year and $68 billion next year.
  • The budget agreement, coming a day after President Trump threatened to shut down the government, would effectively negate Mr. Trump’s demands to broadly reorder government with deep cuts to nondefense programs like environmental protection, foreign aid and health research that were to offset large increases in military spending.
  • Mr. Trump is to release his second budget request on Monday, but the deal — championed by the top congressional leaders from his own party — amounts to an unequivocal rebuke of many of the budgetary demands he has put forth.
  • The deal would give Mr. Trump military bragging rights. “The bottom line is that, thanks to President Trump, we can now have the strongest military we have ever had,” the White House press secretary, Sarah Huckabee Sanders, said on Wednesday.
  • At least for now, it could put an end to the fiscal crises that Mr. Trump has at times seemed to welcome.
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Himalayan glacier melting doubled since 2000, spy satellites show | Environment | The G... - 0 views

  • The melting of Himalayan glaciers has doubled since the turn of the century, with more than a quarter of all ice lost over the last four decades, scientists have revealed. The accelerating losses indicate a “devastating” future for the region, upon which a billion people depend for regular water.
  • The scientists combined declassified US spy satellite images from the mid-1970s with modern satellite data to create the first detailed, four-decade record of ice along the 2,000km (1,200-mile) mountain chain.
  • The analysis shows that 8bn tonnes of ice are being lost every year and not replaced by snow, with the lower level glaciers shrinking in height by 5 meters annually. The study shows that only global heating caused by human activities can explain the heavy melting.
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  • “It is really the doubling of the speed of glacier melt that is most concerning.” The new understanding of past melting means forecasts can now be made with far more confidence but the outlook is dire, he said. “It looks devastating and there is no doubt in my mind, not a single grain of doubt, that [the impact of the climate crisis] is what we are seeing.
  • Temperature data from the region also shows an average rise of 1C from 2000-16 compared with 1975-2000. Calculations show this rise is consistent with the amount of ice being lost. “Even glaciers in the highest mountains of the world are responding to global air temperature increases driven by the combustion of fossil fuels,”
  • “Increasingly uncertain and irregular water supplies will impact the 1 billion people living downstream from the Himalaya mountains in south Asia.”
  • The scientists used this data to track the changes in 650 Himalayan glaciers. On average, the glacier surfaces sank by 22cm (8.6 inches) a year from 1975 to 2000. But the melting has accelerated, with an average loss of 43cm a year from 2000 to 2016.
  • at least a third of the ice in the Hindu Kush-Himalaya ranges was already doomed to melt by the end of the century, even if drastic action to cut emissions was taken immediately. Without action, two-thirds would go.
  • “For the wellbeing of the people there, our results are of course the worst possible. But it is what it is, and now we have to prepare for that scenario. We have to worry a lot, because so many people are affected
  • “To stop the temperature rises, we have to cool the planet,” he said. “We have to not only slow down greenhouse gas emissions, we have to reverse them. That is the challenge for the next 20 years.”
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Coronavirus economy plans are clear: No return to normal in 2020 - Vox - 0 views

  • Over the past few days, I’ve been reading the major plans for what comes after social distancing. You can read them, too. There’s one from the right-leaning American Enterprise Institute, the left-leaning Center for American Progress, Harvard University’s Safra Center for Ethics, and Nobel Prize-winning economist Paul Romer.
  • In different ways, all these plans say the same thing: Even if you can imagine the herculean political, social, and economic changes necessary to manage our way through this crisis effectively, there is no normal for the foreseeable future.
  • The AEI, CAP, and Harvard plans aren’t identical, but they’re similar. All of them feature a period of national lockdown — in which extreme social distancing is deployed to “flatten the curve” and health and testing capacity is surged to “raise the line.”
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  • All of them then imagine a phase two, which relaxes — but does not end — social distancing while implementing testing and surveillance on a mass scale. This is where you must begin imagining the almost unimaginable.
  • The CAP and Harvard plans both foresee a digital pandemic surveillance state in which virtually every American downloads an app to their phone that geotracks their movements, so if they come into contact with anyone who later is found to have Covid-19, they can be alerted and a period of social quarantine can begin
  • o state the obvious: The technological and political obstacles are massive. While similar efforts have borne fruit in Singapore and South Korea, the US is a very different country, with a more mistrustful, individualistic culture. Already, polling shows that 70 percent of Republicans, and 46 percent of Democrats, strongly oppose using cellphone data to enforce quarantine orders.
  • The alternative to mass surveillance is mass testing. Romer’s proposal is to deploy testing on a scale no one else is contemplating — 22 million tests per day — so that the entire country is being tested every 14 days, and anyone who tests positive can be quickly quarantined
  • The AEI proposal is the closest thing to a middle path between these plans. It’s more testing, but nothing approaching Romer’s hopes. It’s more contact tracing, but it doesn’t envision an IT-driven panopticon. But precisely for that reason, what it’s really describing is a yo-yo between extreme lockdown and lighter forms of social distancing, continuing until a vaccine is reached.
  • This, too, requires some imagination. Will governors who’ve finally, at great effort, reopened parts of their economies really keep throwing them back into lockdown every time ICUs begin to fill? Will Trump have the stomach to push the country back into quarantine after he’s lifted social distancing guidelines?
  • even if the political hurdles could be cleared, it’s obvious, reading the AEI proposal, that there’ll be no “V-shaped recovery” of the economy. Scott Gottlieb, the former FDA commissioner who helped craft the plan, says he thinks something like 80 percent of the economy will return — that may sound like a lot, but it’s an economic collapse of Great Depression proportions.
  • As unlikely as these futures may be, I think the do-nothing argument is even less plausible: It imagines that we simply let a highly lethal virus kill perhaps millions of Americans, hospitalize tens of millions more, and crush the health system, while the rest of us go about our daily economic and social business.
  • That is, in my view, far less likely than the construction of a huge digital surveillance state. I care about my privacy, but not nearly so much as I care about my mother.
  • My point isn’t to criticize these plans when I have nothing better to offer. Indeed, my point isn’t to criticize them at all. It’s simply to note that these aren’t plans for returning to anything even approaching normal
  • They either envision life under a surveillance and testing state of dystopian (but perhaps necessary!) proportions, or they envision a long period of economic and public health pain, as we wrestle the disease down only to see it roar back, as seems to be happening in Singapore.
  • As of now, the White House has neither chosen nor begun executing on a plan of its own. That’s a terrible abdication of leadership, but reading through the various proposals, you can see why it’s happened. Imagine you’re the president of the United States in an election year. Which of these futures, with all its costs and risks and pain, would you want to try and sell to the American people?
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