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A new study by finance professors Aleksandar Andonov of Erasmus University Rotterdam and Joshua Rauh of Stanford University looks at expected returns among more than 230 public pension plans with more than $2.8 trillion in combined assets.

For their portfolios, generally consisting of cash, U.S. and international bonds and stocks, real estate, hedge funds and private-equity or buyout funds, these pension plans report that they will earn an average of 7.6% annually over the long term. (That’s 4.8% after their estimates of inflation.) These funds often define “long term” as between 10 and 30 years.

Based on how they divvy up their money, how much are these pension funds assuming specific assets will earn?

They expect cash to return an average of 3.2% annually over the long run; bonds, 4.9%; such “real assets” as commodities and real estate, 7.7%; hedge funds, 6.9%; publicly traded stocks, 8.7%; private-equity funds, 10.3%.

consider bonds. The simplest reliable indicator of how much you will earn from a portfolio of bonds in the future is their yield to maturity in the present. With 10-year Treasurys yielding 2.6% and investment-grade corporate bonds averaging under 3.7%, it would take a near-miracle today to get anything close to 4% out of a high-quality fixed-income portfolio.

That’s below the U.S. average of 10.2% annually over the past 90 years. But stocks were far cheaper over most of that period than they are today, so their returns were naturally higher.

stocks aren’t likely to earn more than an average of 5.9% annually over the long run from today’s lofty prices.

Among those, the least implausible scenario is higher inflation. So the pension funds could hit their 8.7% stock return that way — but such a surge in the cost of living would crimp their bond returns. What they would gain on their stocks they would lose on their bonds.

the new study of estimated returns finds that the older a pension fund’s holdings of private equity are, the more likely its officials are to extrapolate those returns — as if the good times of the early 2000s, when deals abounded and buyouts were cheaper, were still rolling.

Why do expectations among pension plans run so high? Because they have to, the chief investment officer of a large public pension plan tells me. State laws guarantee generous retirement benefits for millions of current and former government employees. To appear as if they can meet those obligations, the pension plans have no choice but to set their expected returns higher than reality is likely to deliver.

That’s the exact opposite of what the rest of us should do. Sooner or later, investors who build their expectations on hope rather than on arithmetic end up sorry.

it’s not just aging. In a variety of different areas, the Baby Boom generation created, advanced, or preserved policies that made American institutions less dynamic

most zoning was intended to protect property values for homeowners, or to exclude certain racial g

Stricter zoning rules began to be implemented in many places in the 1940s and 1950s as suburbanization began. But then things got worse in the 1960s to 1980s

These decades, when the political power of the Baby Boomer generation was rapidly rising, saw a sharp escalation in land-use rules.

There’s debate about why this is: Some researchers say the end of formal segregation may have pushed some voters to look for informal methods of enforcing segregation. Others suggest that a change in financial returns to different classes of investment caused homeowners to become more protective of their asset values.

Even as the American population has doubled since the 1940s, it has gotten more and more legally challenging to build houses. The result is that younger Americans are locked out of suitable housing. And as I’ve argued previously, when young people have to rent or live in more crowded housing, they tend to postpone the major personal events marking transformation into settled adulthood, such as marriage and childbearing.

hey also made new rules restricting young people’s employment. Laws and rules requiring workers to have special licenses, degrees, or certificates to work have proliferated over the past few decades. And while much of this rise came before Boomers were politically active, instead of reversing the trend, they extended it.

even as higher education gets more expensive, the actual economic returns to a university degree are about flat. People who are more educated make more money than people with less education, but overall, most educational groups are just treading water

the actual enforcement mechanism for this norm is explicitly generational: older employers setting standards for younger job applicants.

these developments are part of a wider social trend toward increasing control and regulation across all walks of lif

graph tracking the rise in paperwork needed to start a new business, or the length of census questionnaires, or the length of the federal code, or virtually any measure of administrative or regulatory complexity would show the same basic trend

most glaring example of this growth in regulation and control is also the easiest one to pin on Baby Boomers: the incredible rise in incarceration rates

It’s understandable that, faced with a wave of crime, Baby Boomers might want to respond with a law-enforcement crackdown. But the scale of the response was disproportionate. The rush to respond to a social ill with control, with extra rules and procedures, with the commanding power of the state, has been typical of American policy making in the postwar period, and especially since the 1970s

Even young Americans today who are free from prison are nonetheless in bondage to debt—sometimes their own debt, in the form of rapidly growing student loans or personal and credit-card loans. But on a larger scale, the problems of entitlements, pensions, Social Security, Medicare, and federal, state, and local debt are becoming more severe all the time

Below, I show a reasonable projection of the share of national income that will have to be spent paying for these obligations in the future if there is no substantial restructuring of liabilitie

Making these payments will require fiscal austerity, through either higher taxes or lower alternative spending. Younger Americans will bear the burdens of the Baby Boomer generation, whether in smaller take-home pay or more potholes and worse schools.

Baby Boomers are living longer even as the workers who pay for their pensions are dying from an epidemic of drug overdose, suicide, car accidents, and violence

there is cause for hope. If the problem is too many senseless rules, then the solution is obvious. Strict licensure standards can be repealed. Minimum lot sizes can be reduced. Building-height ceilings can be raised. Nonviolent prisoners can have their sentences commuted. Even thorny problems such as cost control in universities can be addressed through caps on non-instructional spending

Meanwhile, the top banks and law firms, along with other high-paying employers, recruit almost exclusively from a few elite colleges.

Hardworking outsiders no longer enjoy genuine opportunity. According to one study, only one out of every 100 children born into the poorest fifth of households, and fewer than one out of every 50 children born into the middle fifth, will join the top 5 percent

Absolute economic mobility is also declining—the odds that a middle-class child will outearn his parents have fallen by more than half since mid-century—and the drop is greater among the middle class than among the poor.

because meritocratic inequality does not in fact serve anyone well, escaping meritocracy’s trap would benefit virtually everyone.

Nearly three-fifths of Republicans believe that colleges and universities are bad for America

Outrage at nepotism and other disgraceful forms of elite advantage-taking implicitly valorizes meritocratic ideals. Yet meritocracy itself is the bigger problem, and it is crippling the American dream. Meritocracy has created a competition that, even when everyone plays by the rules, only the rich can win.

Even meritocracy’s beneficiaries now suffer on account of its demands. It ensnares the rich just as surely as it excludes the rest, as those who manage to claw their way to the top must work with crushing intensity, ruthlessly exploiting their expensive education in order to extract a return.

But what, exactly, have the rich won

Meritocracy frames this exclusion as a failure to measure up, adding a moral insult to economic injury.

Elite middle and high schools now commonly require three to five hours of homework a night; epidemiologists at the Centers for Disease Control and Prevention have warned of schoolwork-induced sleep deprivation.

Where aristocratic children once reveled in their privilege, meritocratic children now calculate their future—they plan and they scheme, through rituals of stage-managed self-presentation, in familiar rhythms of ambition, hope, and worry.

Wealthy students show higher rates of drug and alcohol abuse than poor students do. They also suffer depression and anxiety at rates as much as triple those of their age peers throughout the country

education—whose benefits are concentrated in the extravagantly trained children of rich parents—must become open and inclusive. Private schools and universities should lose their tax-exempt status unless at least half of their students come from families in the bottom two-thirds of the income distribution

A recent study of a Silicon Valley high school found that 54 percent of students displayed moderate to severe symptoms of depression and 80 percent displayed moderate to severe symptoms of anxiety.

Elite universities that just a few decades ago accepted 30 percent of their applicants now accept less than 10 percent.

The University of Chicago admitted 71 percent of its applicants as recently as 1995. In 2019 it admitted less than 6 percent.

A person whose wealth and status depend on her human capital simply cannot afford to consult her own interests or passions in choosing her job. Instead, she must approach work as an opportunity to extract value from her human capital, especially if she wants an income sufficient to buy her children the type of schooling that secured her own eliteness. She must devote herself to a narrowly restricted class of high-paying jobs, concentrated in finance, management, law, and medicine

In 1962, when many elite lawyers earned roughly a third of what they do today, the American Bar Association could confidently declare, “There are … approximately 1,300 fee-earning hours per year” available to the normal lawyer.

In 2000, by contrast, a major law firm pronounced with equal confidence that a quota of 2,400 billable hours, “if properly managed,” was “not unreasonable,” which is a euphemism for “necessary for having a hope of making partner.” Because not all the hours a lawyer works are billable, billing 2,400 hours could easily require working from 8 a.m. until 8 p.m. six days a week, every week of the year, without vacation or sick days

Today, the higher a person climbs on the org chart, the harder she is expected to work. Amazon’s “leadership principles” call for managers to have “relentlessly high standards” and to “deliver results.” The company tells managers that when they “hit the wall” at work, the only solution is to “climb the wall.”

Americans who work more than 60 hours a week report that they would, on average, prefer 25 fewer weekly hours. They say this because work subjects them to a “time famine” that, a 2006 study found, interferes with their capacity to have strong relationships with their spouse and children, to maintain their home, and even to have a satisfying sex life.

The capacity to bear these hours gracefully, or at least grimly, has become a criterion for meritocratic success

Meritocracy traps entire generations inside demeaning fears and inauthentic ambitions: always hungry but never finding, or even knowing, the right food.

As the meritocracy trap closes in around elites, the rich themselves are turning against the prevailing system. Plaintive calls for work/life balance ring ever louder. Roughly two-thirds of elite workers say that they would decline a promotion if the new job demanded yet more of their energy

it is simply not possible to get rich off your own human capital without exploiting yourself and impoverishing your inner life, and meritocrats who hope to have their cake and eat it too deceive themselves

Building a society in which a good education and good jobs are available to a broader swath of people—so that reaching the very highest rungs of the ladder is simply less important—is the only way to ease the strains that now drive the elite to cling to their status

Parents—sometimes reluctantly, but feeling that they have no alternative—sign their children up for an education dominated not by experiments and play but by the accumulation of the training and skills, or human capital, needed to be admitted to an elite college and, eventually, to secure an elite job

How can that be done

A parallel policy agenda must reform work, by favoring goods and services produced by workers who do not have elaborate training or fancy degrees

For example, the health-care system should emphasize public health, preventive care, and other measures that can be overseen primarily by nurse practitioners, rather than high-tech treatments that require specialist doctors

In finance, regulations that limit exotic financial engineering and favor small local and regional banks can shift jobs to mid-skilled workers.

The main obstacle to overcoming meritocratic inequality is not technical but political. Today’s conditions induce discontent and widespread pessimism, verging on despair.

In his book Oligarchy, the political scientist Jeffrey A. Winters surveys eras in human history from the classical period to the 20th century, and documents what becomes of societies that concentrate income and wealth in a narrow elite. In almost every instance, the dismantling of such inequality has been accompanied by societal collapse, such as military defeat (as in the Roman empire) or revolution (as in France and Russia).

Rebuilding a democratic economic order will be difficult. But the benefits that economic democracy brings—to everyone—justify the effort. And the violent collapse that will likely follow from doing nothing leaves us with no good alternative but to try.

Employees who are selected to make the switch can make $19 per hour, a $2 raise on top of the pay hike Amazon announced earlier this month.

“As we continue to see a significant increase in demand for grocery orders, we are offering temporary opportunities for associates across our fulfillment network to provide additional support,” an Amazon spokesperson said on late Friday, confirming the action.

Amazon has been doubling down on the grocery industry since its $13.7 billion acquisition of Whole Foods in 2017.

Since the outbreak, grocery delivery has become a lifeline for people to get household staples while trying to avoid stepping outside.

So far, coronavirus has spread to at least 17 Amazon warehouses in the U.S., prompting workers and lawmakers to question if enough safety measures have been taken to protect employees on the frontlines.

Grocery stores are competing for workers to fulfill online orders. Walmart, with a fast growing online grocery business, plans to hire 150,000 employees at stores, distribution and fulfillment centers through May.

Only 2% of the patients in a review of nearly 45,000 confirmed Covid-19 cases in China were children, and there were no reported deaths in children under 10

Among nearly 6,300 Covid-19 cases reported by the Korea Centers for Disease Control & Prevention on March 8, there were no reported deaths in anyone under 30. Only 0.7% of infections were in children under 9 and 4.6% of cases were in those ages 10- to 19-years-old.

Studies from China show that the rate of deaths for those with cardiovascular issues is 10.5% while it’s 7.3% for diabetes patients and about 6% for those with hypertension or lung and respiratory disease. In cancer patients, it was reported as 5.6%.

Is Covid-19 more contagious than influenza or other viral respiratory diseases? It appears to be. Both are very contagious. The R0—pronounced “R naught”—is an estimate of how many healthy people one contagious person will infect. The R0 for Covid-19 is estimated to be 2.6. “That’s a lot,” says Dr. Schaffner.

A high fever would be 101 or higher

Are there any precautions or steps different in coronavirus prevention than in influenza prevention? What about treatment? No. Both illnesses are infectious respiratory illnesses caused by different viruses but spread the same way, says Vanessa Raabe, an infectious disease specialist at NYU Langone Health. They are transmitted through droplets from a sick person sneezing or coughing or talking within 2 meters or 6 feet. If such a droplet enters your eyes, mouth or nose, you could become infected.

There is some concern that the new coronavirus can also be transmitted by tiny fine droplets that remain suspended in the area after an ill person leaves, but Dr. Raabe says that it’s not believed to be the main way it’s transmitted and it’s more of a worry in the health care setting.

Do allergy and asthma sufferers have a higher rate of illness contraction? There is no evidence that allergy sufferers have a higher rate of getting the new coronavirus. But asthma suffers do. The groups with the highest risk of fatalities are the elderly and those with diabetes, heart disease, lung disease, including respiratory illnesses, and smokers

When should I go to the hospital? Experts say you should go to a hospital if you’re sick enough that you think you should be admitted. The telltale sign is difficulty breathing or shortness of breath combined with a high fever

shortness of breath and difficulty breathing is a sign that the lungs are being affected and the virus has moved from being an upper tract respiratory illness to a lower tract one. Upper tract illness is usually defined by a runny nose, congestion, and sore threat. Once a virus moves to the lower tract symptoms can include shortness of breath and a lot of coughing that produces mucus

In comparison, for influenza the figure is somewhere around 1.2 to 1.8

How do you distinguish the new coronavirus from the flu or the common cold? It’s impossible to do based on symptoms alone, says Dr. Raabe. The main symptoms of the new coronavirus are fever, cough, shortness of breath, and general fatigue and muscle aches. These overlap with the symptoms of the flu or any other respiratory virus. The only way to know for sure is to get tested by a doctor

The book traces the way that the upper-middle class has pulled away from the middle class and the poor on five dimensions: income and wealth, educational attainment, family structure, geography, and health and longevity.

their wage and investment increases have proven sizable. They dominate the country’s top colleges, sequester themselves in wealthy neighborhoods with excellent public schools and public services, and enjoy healthy bodies and long lives.

They then pass those advantages onto their children, with parents placing a “glass floor” under their kids. They ensure they grow up in nice zip codes, provide social connections that make a difference when entering the labor force, help with internships, aid with tuition and home-buying, and schmooze with college admissions officers.

All the while, they support policies and practices that protect their economic position and prevent poorer kids from climbing the income ladder: legacy admissions, the preferential tax treatment of investment income, 529 college savings plans, exclusionary zoning, occupational licensing, and restrictions on the immigration of white-collar professionals.  

As a result, America is becoming a class-based society, more like fin-de-siècle England than most would care to admit, Reeves argues. Higher income kids stay up at the sticky top of the income distribution. Lower income kids stay down at the bottom

but the 20 percent have done their part to immiserate the 80 percent, as well—an arguably more relevant but less recognized class distinction.

Why more relevant? In part because the 20 percent are so much bigger than the one percent.

Reeves offers a host of policy changes that might make a considerable difference: better access to contraception, increasing building in cities and suburbs, barring legacy admissions to colleges, curbing tax expenditures that benefit families with big homes and capital gains.

other, bigger solutions might be necessary as well: a universal child allowance to reduce the poverty rate among kids, as the Century Foundation has proposed, say, or baby bonds to help eliminate the black-white wealth gap

Expanding opportunity and improving fairness would require the upper-middle class to vote for higher taxes, to let others move in, and to share in the wealth.

Members of the upper-middle class, as those viral stories show and Reeves writes, love to think of themselves as members of the middle class, not as the rich. They love to think of themselves as hard workers who played fair and won what they deserved, rather than as people who were born on third and think they hit a triple. They hate to hear that the government policies they support as sensible might be torching social mobility and entrenching an elite. That elite is them.

We profess outrage about sexual assault and abuse, the dimensions of which have been rendered even clearer by the galling revelations of the last month and a half. Still we indulge fraternities, which abet that behavior. Persuasive research — along with common sense — tells us that members of all-male fraternities are more likely to have a warped view of permissible sexual contact and that women who frequent fraternity parties are more likely to be assaulted. Additionally, the binge drinking so prevalent at fraternities is the enemy of informed consent. Advertisement Continue reading the main story

, we resolve to assemble more heterogeneous campuses. But then we blithely watch and even celebrate the retreat of students into fraternities and sororities, which are in many cases largely homogeneous enclaves antithetical to the broadening of perspective and challenging of ingrained assumptions that higher education should be all about.

“These fraternities have drink, danger and debauchery in their blood — right alongside secrecy and self-protection,” Lisa Wade, an Occidental College sociology professor and the author of “American Hookup: The New Culture of Sex on Campus,” wrote in a Time magazine essay that called for an end to fraternities. “They cannot reform.”

colleges could at least stop promoting and even romanticizing them. Hechinger said that campus websites and tours have presented gauzy propaganda extolling Greek life. Why not provide detailed information about individual fraternities’ disciplinary records instead? And why not put more energy into nurturing other groups and living arrangements that might siphon students away from fraternities?

150 years ago, fraternities were regarded with enormous suspicion by many college presidents, who described them as “un-American,” a “plague” and a force for “greater unkindness and ill feeling than almost anything else in college.”

“Imagine a world,” she said, “in which everything was the same about higher education except there have never been Greek organizations. An 18-year-old waltzes into a dean’s office and says, ‘I want to start an exclusive club on campus that doesn’t allow women and serves mostly white and privileged students and we’re going to throw parties all the time that are illegal, and at these parties, all the bad stuff that happens on campus is going to happen disproportionately. What do you think?’ ”

Authorities encountered 9,297 children without a parent in February, a 30% increase from 2019 during the last major influx of unaccompanied children. To be sure, it's still below the peaks of 11,000 unaccompanied minors who arrived in May 2019 and above 10,000 in June 2014, but experts and administration officials expect those records to be broken this year.

Homeland Security Secretary Alejandro Mayorkas said last week that U.S. agents are on pace to intercept more migrants on the southwest border in 2021 than they have in the last two decades.The reasons for the influx of migrants from Central America are vast and complex. They are also deeply personal for each family who chooses to leave their home.

Jessica Bolter, an analyst at the Migration Policy Institute, says they involve a mix of longstanding factors, such as poverty and corruption, as well as new factors such as two recent hurricanes and widespread unemployment due to the pandemic.

U.S. Customs and Border Protection agents apprehended an average of 5,000 undocumented immigrants per day over the past 30 days, including about 500 unaccompanied children, according to a senior Border Patrol official who spoke to reporters on Friday.

The official said the influx was "much different" than previous years, citing the large number of unaccompanied children and families traveling. As of Wednesday, more than 5,000 unaccompanied migrant children and teens were stuck in Border Patrol facilities waiting for beds in more appropriate shelters built for children, according to Department of Homeland Security data viewed by NPR.

The Border Patrol official told reporters Friday that agents are trying to discharge the children from warehouses and jail-like holding cells as quickly as possible, but there's a bottleneck because the government can't open child shelters run by the Department of Health and Human Services fast enough to accommodate everyone who's crossing.

The Biden administration is working with other agencies trying find more bed space. They're using places like the San Diego Convention Center to hold unaccompanied minors so they're not sleeping in cells on the border. The challenges in Central America – and at the border – have become cyclical.

Like under previous presidents, the Biden administration was not prepared to shelter this many arriving children. But Bolter questions whether this is some kind of a new "crisis." She says this part of the same flow of migrants that the United States has been experiencing over the last decade.

Up until 2012, the vast majority of apprehensions at the southwest border were of young Mexican males coming across to find work in the United States. Two years later, the majority of cases coming across the southwest border were from Central America and were a mix people, families and unaccompanied children.

The Biden administration also has long term plans to deal more directly with these issues in Central America. They include developing more legal avenues to seek asylum so that migrants don't feel they have to choose illegal avenues. And Biden just sent three top officials to Mexico and Guatemala as part of efforts to tackle the root causes of migration, something he also just tasked Vice President Harris with leading.

He told NPR's Steve Inskeep Friday that the administration wants to help countries in the region create the right environment for international investment that drives economic prosperity, but also has ways to encourage better behavior from money launderers and other corrupt officials.

Why does it not generate more outrage that many Republican governors are continuing these policies even as infections spread and virus mutations accumulate?

Realistically, this is because the economic benefits of covid irresponsibility are immediate and obvious to everyone. And even twice a very small risk is still a very small risk.

But this reasoning requires us to abandon our social solidarity with the elderly and vulnerable, who bear a disproportionate cost in Noem’s vision of liberty. And I fear it indicates a wide streak of social Darwinian callousness in the American right.

they expected very few people — 15-20% — to actually opt-in to having their data be shared. But a new analysis from AppsFlyer, a mobile software company, says opt-in rates may be higher, possible minimizing the impact of Apple's changes on the ad ecosystem.

it — along with other web browsers like Apple's Safari and Mozilla's Firefox — would begin phasing out web cookies,

Google's solution requires broad industry support, and many web publishers are skeptical. WordPress, the blogging platform that supports a huge chunk of the internet's websites, last week called Google's alternative a "security concern" that could unintentionally facilitate disparities amongst people on the web.

Some industry bodies, like ad tech giant The Trade Desk, are proposing alternative to third-party cookies that still allow marketers to track individuals.

Consider a calculation to determine the threshold for herd immunity: Vc=(1− 1/R0)/E. "Vc" is the proportion of people who must be vaccinated to protect the rest of the herd, "R0," pronounced R-naught, is an estimate of the number of secondary cases from the original infected person and "E" represents effectiveness of a given vaccine against transmission. And this, which resembles a brutal SAT math section entry, is the dumbed-down version.

Lessening the threat of fetal loss therefore was straightforward: farmers should "retain" immune cattle -- those who had already had a spontaneous abortion -- and not waste "material, time, and energy ... on animals of doubtful value." Rather, they advised to butcher the non-immune cows and concentrate on the immune, "profitable" ones.

In other words, susceptible cows should be culled to lessen the risk of new infections

Though, of course, the fix -- culling -- is not an option for human disease, the benefit of an immune herd is self evident.

Fast forward to the 21st century world of vaccines. Pandemics and health care are decidedly more complex, which has led all to wonder: what is the magic number of people we need to vaccinate so we can all forget these disastrous last 14 months?close dialogOur free Provoke/Persuade newsletter compiles the week’s most thought-provoking pieces and delivers them straight to your inbox. Please enter aboveSign me upBy subscribing you agree to ourprivacy policy.Thanks for Subscribing!Continue ReadingBy subscribing you agree to ourprivacy policy.close dialog/* effects for .bx-campaign-1295603 *//* custom css .bx-campaign-1295603 *//* custom css from creative 52220 */.bxc.bx-custom.bx-campaign-1295603 .bx-row-image-logo img { height: 42px;}@media screen and (max-width:736px) { .bxc.bx-custom.bx-campaign-1295603 .bx-row-image-logo img { height: 35px;}}/*Validation border*/.bxc.bx-custom.bx-campaign-1295603 .bx-row-validation .bx-input { border-color: #B50000; /*Specify border color*/ border-width: 1px; box-shadow: none; background-color: transparent; color: #B50000; /*Specify text color*/}/* rendered styles .bx-campaign-1295603 */.bxc.bx-campaign-1295603.bx-active-step-1 .bx-creative:before {min-height: 220px;}.bxc.bx-campaign-1295603.bx-active-step-1 .bx-creative {border-color: #c1c1c1;border-style: solid;background-size: contain;background-color: white;border-width: 1px 0;border-radius: 0;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603.bx-active-step-1 .bx-creative:before {min-height: 200px;}}.bxc.bx-campaign-1295603.bx-active-step-1 .bx-creative> *:first-child {width: 780px;vertical-align: middle;padding: 10px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603.bx-active-step-1 .bx-creative> *:first-child {width: 340px;padding: 20px;}}.bxc.bx-campaign-1295603.bx-active-step-1 .bx-close {stroke: rgb(193, 193, 193);stroke-width: 2px;width: 24px;height: 24px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603.bx-active-step-1 .bx-close {width: 30px;height: 30px;padding: 0 0 10px 10px;}}.bxc.bx-campaign-1295603 .bx-group-1295603-y4M7jyO {width: 660px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603 .bx-group-1295603-y4M7jyO {text-align: center;width: 315px;}}.bxc.bx-campaign-1295603 .bx-element-1295603-tVcUlRZ {padding: 0;width: auto;}.bxc.bx-campaign-1295603 .bx-element-1295603-tVcUlRZ> *:first-child {background-color: transparent;background-size: contain;}.bxc.bx-campaign-1295603 .bx-group-1295603-BpRQ7DR {width: 660px;text-align: left;padding: 25px 0 15px;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603 .bx-group-1295603-BpRQ7DR {width: 310px;padding: 15px 0 15px;text-align: center;}}.bxc.bx-campaign-1295603 .bx-element-1295603-oUX5Jvf {width: 100%;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603 .bx-element-1295603-oUX5Jvf {width: auto;}}.bxc.bx-campaign-1295603 .bx-element-1295603-oUX5Jvf> *:first-child {font-family: CNN Business,CNN,Helvetica Neue,Helvetica,Arial,Utkal,sans-serif;font-weight: 400;font-size: 24px;line-height: 1.1em;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603 .bx-element-1295603-oUX5Jvf> *:first-child {font-size: 16px;padding: 6px 0 0;line-height: 1.2;}}.bxc.bx-campaign-1295603 .bx-group-1295603-PZ8dLrW {width: 660px;padding: 0;min-width: 550px;text-align: left;}@media all and (max-width: 736px) {.bxc.bx-campaign-1295603 .bx-group-1295603-PZ8dLrW {min-width: auto;width: 310px;padding: 0;}}@media all and (min-wi

This is not a fund-raiser with a fixed universal goal we all are striving to reach. The above equation evaluates the nation as a homogenized entity, but people live in communities

A famous mumps outbreak in adolescent boys from the Orthodox Jewish community is thought to have been exacerbated by the school practice of promoting close, sustained (15 hours a day) contact with a study partner ("chavrusa") including "animated" face-to-face discussion resulting in transmission despite the fact that most had been vaccinated years before.

Stated more simply, the herd likely is protected at a very different percent of vaccinated people in an Orthodox Jewish community in San Diego where people live near the school and walk to most activities compared to a gated community in a Minneapolis suburb where many prefer to keep to themselves.

We have received a master class in viral variants in recent months, witnessing day by day the alarming uptick in new cases as the B.1.1.7. variant has been introduced to new communities. But a single R-naught cannot fit all variants of Covid-19; a community with higher rates of B.1.1.7. and, therefore, a higher R-naught will require, among other things, a higher level of vaccination to designate the herd as sufficiently immune.

There is not one magic number to signal to the entire country that we have finally made it;

This is extremely important to keep in mind in the weeks and months ahead as we continue to vaccinate and wait and vaccinate and wait, chasing a number that is fundamentally misleading.

The heterogeneity of human behavior, geography and the virus itself explains the vagueness of the pronouncements of Dr. Anthony Fauci, the chief medical adviser to President Joe Biden, and other experts as they seek to evade specifying just how many more people need vaccination before we officially can claim victory.

As we have seen in the US during the 15-month arc of the pandemic, trust in science and scientists has been the key to progress. Masks work. Vaccines work. Certain medications work.

“I want to stress that we are deeply concerned that this strain is more transmissible and can accelerate outbreaks in the U.S.

Covid cases and deaths have broken record after record across the country, with a peak number of deaths, 4,400, announced on Tuesday. At least 3,973 new deaths and 238,390 new cases were reported on Thursday, and the nation is nearing a milestone of 400,000 deaths.

The new variant, called B 1.1.7 was first identified in Britain, where it rapidly became the primary source of infections, accounting for as many 60 percent of new cases diagnosed in London and surrounding areas.

In the new report, C.D.C. scientists modeled how quickly the variant might spread in the United States, assuming about 10 percent to 30 percent of people have pre-existing immunity to the virus, and another 1 million people will be vaccinated each week beginning this month.

It’s not yet clear what makes the new variants more contagious. They share at least one mutation, called N501Y, that is thought to be involved. One possibility, researchers said, is that the mutation may increase the amount of virus in the nose but not in the lungs — potentially explaining why it is more contagious, but not more deadly.A higher amount of virus in the nose means anyone infected would expel more virus while talking, singing, coughing or even breathing, said Trevor Bedford, an evolutionary biologist at the Fred Hutchinson Cancer Research Center in Seattle

Federal health officials sounded the alarm Friday about a fast spreading, far more contagious variant of the coronavirus that is projected to become the dominant source of infection in the country by March, potentially fueling another wrenching surge of cases and deaths.

The variant is not known to be more deadly or to cause more severe disease. But the dire warning — hedged by limited data about just how prevalent the variant first identified in Britain has become — landed in a week where the nation’s nascent vaccination campaign was hampered by confusion and limited supplies as demand grew among growing numbers of eligible people

Only 76 cases of the variant have been identified so far in the U.S., but the actual number is believed to be higher and is expected to spiral upward in the next few weeks, officials said.

One in 860 Americans have died of Covid-19 in the last year, according to new figures released by the C.D.C. But the burden of deaths has not fallen equally across racial, ethnic lines and geographic regions, and there is concern that vaccines will not reach the hardest hit communities, where access to health services is limited and distrust is rampant. Editors’ PicksFor Pro Athlete Leading Social Justice Push, a Victory and UncertaintyJames Comey’s View of Justice — and How It Differs From Donald Trump’sHow ‘Orwellian’ Became an All-Purpose InsultAdvertisementContinue reading the main storyImage

But spikes in cases threaten to cripple already overwhelmed hospitals and nursing homes in many parts of the country. Some are at or near capacity. Others have faced troubling rates of infection among their staff, causing shortages and increasing patient loads.

If the variant is about 50 percent more contagious, as suggested by data from Britain, it will become the predominant source of all infections in the United States by March, the model showed. A slow rollout of vaccinations will hasten that fate.

missing just one night of sleep impairs memory.

an impaired mind focuses “on negative information when making decisions.”

losing out on as little as 16 minutes a night could have serious negative impacts on job performance.

When we delay or speed up our internal body clock, it can have the same consequences as not getting enough sleep, a phenomenon known as advanced sleep-wake phase disorder.

“The reason is that our circadian rhythm tells our brain when to produce melatonin, our sleep hormone, so if you try to wake while your brain is still producing melatonin, you could feel excessive daytime sleepiness, low energy, decline in mood and cognitive impact,”

“There are a handful of people who can function adequately on a shorter sleep duration than the average person, but it’s very, very rare,

Missing even two hours here, an hour there, then having a wildly different sleep pattern over the weekend, is the gateway drug to chronic sleep deprivation.

you may be able to adjust your schedule

If you get less than seven hours a night, you can put on weight, since sleep loss can adversely impact energy intake and expenditure. That’s because, in part, the chemical that makes you feel full, leptin, is reduced, while ghrelin, the hunger hormone, increases

chronic sleep loss can increase the amount of free fatty acids in the blood.

People with sleep issues may also be at higher risk for depression and anxiety, while those disorders can also interfere with sleep.

The National Sleep Foundation recommends sticking to a sleep schedule. It won’t happen right away, and you’ll have to build and buy back your debt

Set a goal and regular bedtime, and turn your bedroom into a comfortable, dark, sleep-friendly area. That could mean blackout curtains, maybe a sleeping mask or earplugs.

et your body wake you up, a key to regaining natural circadian rhythm

Reading before bed, something Bill Gates and Arianna Huffington swear by, relaxes the mind

The total number of deaths this year is about 300,000 over the average, according to data, indicating that COVID-19 deaths have actually been higher than reported.

Dr. Anthony Fauci testified before Congress in May that deaths from COVID-19 are “almost certainly higher” than reported.

an aversion to altering one’s belief on the basis of evidence was more common among conservatives and that this correlated “with beliefs about topics ranging from extrasensory perception, to respect for tradition, to abortion, to God.”

In their forthcoming paper, “On the belief that beliefs should change according to evidence,” the authors develop an eight-item “Actively Open-minded Thinking about Evidence Scale.”

People taking the test are asked their level of agreement or disagreement with a series of statements including:“A person should always consider new possibilities.”“Certain beliefs are just too important to abandon no matter how good a case can be made against them.”“One should disregard evidence that conflicts with your established beliefs.”“No one can talk me out of something I know is right.”“I believe that loyalty to one’s ideals and principles is more important than ‘open-mindedness’.”

One study showed thatthe speeches of liberal US presidents score higher on integrative complexity than those of conservatives, as measured by the presence of “words involved in differentiation (exclusive words, tentative words, negations) as well as integration of different perspectives (conjunctions).”

there is one more item to add to the constantly growing list of factors driving polarization in America: Those on the left and right appear to use substantially different cognitive processes to interpret events in the world around them, large and small.

Baron and Jost also cite studies suggesting that those on the right are more susceptible to authoritarian appeals:Conservatives score higher than liberals on measures of personal needs for order and structure, cognitive closure, intolerance of ambiguity, cognitive or perceptual rigidity, and dogmatism.

Liberals, they write, “perform better than conservatives on objective tests of cognitive ability and intelligence” while conservatives “score higher than liberals on measures of self-deception” and “are more likely than liberals to spread ‘fake news,’ political misinformation, and conspiracy theories throughout their online social networks.”

n a February 2019 paper, “Liberals lecture, conservatives communicate: Analyzing complexity and ideology in 381,609 political speeches,” four political scientists, Martijn Schoonvelde, Anna Brosius, Gijs Schumacher and Bert N. Bakker, argue that “speakers from culturally liberal parties use more complex language than speakers from culturally conservative parties” and that this variance in linguistic complexity isrooted in personality differences among conservative and liberal politicians. The former prefer short, unambiguous statements, and the latter prefer longer compound sentences, expressing multiple points of view.

Pennycook and his co-authors concluded:People who reported believing that beliefs and opinions should change according to evidence were less likely to be religious, less likely to hold paranormal and conspiratorial beliefs, more likely to believe in a variety of scientific claims, and were more politically liberal in terms of overall ideology, partisan affiliation, moral values, and a variety of specific political opinions.

President Trump speaks at the lowest level of all those studied, as measured on the on the Flesch-Kincaid index. As Factbase put it:By any metric to measure vocabulary, using more than a half dozen tests with different methodologies, Donald Trump has the most basic, most simplistically constructed, least diverse vocabulary of any president in the last 90 years.

Some scholars argue that a focus on ideological conflict masks the most salient divisions in the era of Donald Trump: authoritarians versus non-authoritarians.

It’s really critical to help people understand the difference between conservatives and authoritarians. Conservatives are by nature opposed to change and novelty, whereas authoritarians are averse to diversity and complexity. It’s a subtle but absolutely critical distinction.

“What we’re facing,” she continued,is an authoritarian revolution — not a conservative revolution, the term is inherently contradictory — which in the U.S. has been creeping up since the 1960s

Authoritarianism, Stenner continued, isclearly distinct from what I call “laissez faire conservatism.” In fact, in cross-national research I consistently find that these two dimensions are actually negatively related. If anything, authoritarians tend to be wary of free markets and more supportive of government intervention and redistribution, perhaps even schemes of equalization and progressive taxation.

Stenner argued that “non-authoritarian conservatives, opposed to change, dedicated to upholding laws, and to the defense of legitimate political and social institutions that underpin societal stability and security” are a crucial pillar of democratic governance.

In the real world, she continued, “it is the authoritarians who are the revolutionaries.”

Because of this authoritarian revolution, here and abroad, Stenner contends thatthe whole of liberal democracy is in grave danger at this moment. But the fault lies with authoritarians on both the right and the left, and the solution is in the hands of non-authoritarians on both sides.

Stenner makes the case that the authoritarian revolution began in the 1960s: “Once the principle of equal treatment under the law was instituted and entrenched by means of the Civil Rights Act and the Voting Rights Act,” traditional conservatism — “fidelity to the laws of the land and defense of legitimate institutions” — took a back seat to authoritarianism “as a factor driving expressions of racial, moral and political intolerance.”

Stenner takes the analysis of contemporary conflict and polarization full circle back to the fundamental American divide over race, a subject that touches on virtually every issue facing the nation.

0.6 percent of the world’s population is 47 million people, and 0.6 percent of the American population is 2 million people. The virus remains a major threat.

China had reported 90,294 cases as of Friday and 4,634 deaths, which is a C.F.R. of 5 percent. The United States was very close to that mark. It has had 2,811,447 cases and 129,403 deaths, about 4.6 percent

So far, in most countries, about 20 percent of all confirmed Covid-19 patients become ill enough to need supplemental oxygen or even more advanced hospital care

it is difficult to measure fatality rates during pandemics, especially at the beginning.

In the chaos that ensues when a new virus hits a city hard, thousands of people may die and be buried without ever being tested, and certainly without them all being autopsied.

Normally, once the chaos has subsided, more testing is done and more mild cases are found — and because the denominator of the fraction rises, fatality rates fall. But the results are not always consistent or predictable.

Ten sizable countries, most of them in Western Europe, have tested bigger percentages of their populations than has the United States, according to Worldometer, which gathers statistics. They are Iceland, Denmark, Spain, Portugal, Belgium, Ireland, Italy, Britain, Israel and New Zealand.

But their case fatality rates vary wildly: Iceland’s is less than 1 percent, New Zealand’s and Israel’s are below 2 percent. Belgium, by comparison, is at 16 percent, and Italy and Britain at 14 percent

Those percentages are far higher rates than the 2.5 percent death rate often ascribed to the 1918 flu pandemic.

Whether those patients survive depends on a host of factors, including age, underlying illnesses and the level of medical care available.

Death rates are expected to be lower in countries with younger populations and less obesity, which are often the poorest countries. Conversely, the figures should be higher in countries that lack oxygen tanks, ventilators and dialysis machines, and where many people live far from hospitals. Those are also often the poorest countries.

new evidence that people with Type A blood are more likely to fall deathly ill could change risk calculations. Type A blood is relatively rare in West Africa and South Asia, and very rare among the Indigenous peoples of South America.

it had relied on a mix of data sent in by member countries and by academic groups, and on a meta-analysis done in May by scientists at the University of Wollongong and James Cook University in Australia.

Those researchers looked at 267 studies in more than a dozen countries, and then chose the 25 they considered the most accurate, weighting them for accuracy and averaged the data. They concluded that the global I.F.R. was 0.64 percent.

The 25 studies that the Australian researchers considered the most accurate relied on very different methodologies. One report, for example, was based on diagnostic PCR tests of all passengers and crew aboard the Diamond Princess, the cruise ship that docked in Japan after it was overcome by the coronavirus. Another study drew data from an antibody survey of 38,000 Spaniards, while another included only 1,104 Swedes.

To arrive at the C.D.C.’s new estimate, researchers tested samples from 11,933 people for antibodies to the coronavirus in six regions in the United States. New York City reported 53,803 cases by April 1, but the actual number of infections was 12 times higher — nearly 642,000, the agency estimated.

The global fatality rates could still change. With one or two exceptions, like Iran and Ecuador, the pandemic first struck wealthier countries in Asia, Western Europe and North America where advanced medical care was available.

Many experts fear that infections and deaths will shoot up in the fall as colder weather forces people indoors, where they are more likely to infect one another. Discipline about wearing masks and avoiding breathing on one another will be even more important then.

In each of the eight influenza pandemics to hit the United States since 1763, a relatively mild first wave — no matter what time of year it arrived — was followed by a larger, much more lethal wave a few months later

More than a third of all the people killed by the Spanish flu, which lasted from March 1918 to late 1920, died in the short stretch between September and December 1918 — about six months after a first, relatively mild version of what may have been the same virus broke out in western Kansas.

In almost every state, property tax assessments were higher in areas with more black and Hispanic residents

The gap between white families and minority households remains large — 10 percent — when you combine data for Hispanic and black families

“We’ve always considered that in addition to paying your regular tax, there was a black tax that goes along with it,”

“It’s almost like it’s in the soil,” he said. “It stretches all across the board. It’s not just real estate. It’s not just housing. It’s not just food deserts. It’s not just racism on the street. It’s not just that you can’t get a cab at night. It’s everything.”

“The structure of the property tax system operates to disadvantage black Americans,” she said. “That’s how structural racism is. It’s built into the system. The property tax system itself discriminates against black Americans.”

One in five black households have reported missing a mortgage payment since mid-March, compared with about 1 in 20 white ones

Facing the accumulated disadvantages of centuries of repression and systemic racism, black Americans are likely to earn less than similar white workers in lower-paying service jobs, a dynamic that makes it more difficult to buy a home. Now, by hitting those jobs first and hardest, the coronavirus pandemic has made a bad situation worse

“During the Jim Crow era, local white officials routinely manipulated property tax assessments to overburden and punish black populations and as a hidden tax break to landowning white gentry,”

white officials going to extreme lengths to hike black taxes. In one such case in 1932, a black North Carolina resident was taxed for the value of two stray dogs that had been seen on her property.

Many county assessors intentionally overvalued black properties, sometimes in direct retaliation for black political action

As early as 1901, W.E.B. Du Bois showed that because of their unequal tax burden, black people paid more in taxes than they received in public education funds,

The fiction that “black people take services but they don’t pay taxes” remains widespread,

The values of black-owned homes tend to grow more slowly than values of white-owned ones. The white people who make up the vast majority of home buyers tend to avoid black neighborhoods, which cuts black sellers off from many potential buyers.

Given that difference in price appreciation, if an assessor assumes a black-owned home gains value as quickly as a white-owned home, the assessed value of the black-owned home will quickly outstrip its market value.

Nearby white families benefit from the opposite trend: Their homes increase in value more rapidly than their assessments, giving them an ever-growing tax break.

the appeals process illustrates how much of the property tax system functions in a way that penalizes black wealth, even as it appears neutral on its face.

While neighborhood and race are the biggest drivers of the property tax gap, the economists found others

As part of their study, the economists reviewed 3.4 million property tax appeals from Chicago and surrounding Cook County and found black homeowners were significantly less likely to appeal their property tax assessments. When they did appeal, black homeowners were less likely to win. And when they won, they earned smaller assessment reductions.

“White people feel more comfortable working within the system that was set up to make them succeed,”

“It makes sense that a black family who has been disenfranchised from these systems wouldn’t challenge it.” It is also difficult to work within the system for Latinos, many of whom do not speak English as a first language, she added.

was not taught about appealing property taxes or any of the other small strategies white homeowners have used to accumulate generational wealth.

“They feel their property taxes were being used to push them out of their places, especially when communities started gentrifying,” Avenancio-León said. It helped him see how property taxation can be used as a means of social engineering.

the duo, then working on doctorate degrees at the University of California at Berkeley, combined 118 million real estate transactions and assessments from 2005 to 2016 with maps of more than 75,000 local taxing entities — such as counties, school districts, airport authorities and utility districts.

They used the maps to sort homes into areas that faced the same property tax burdens, identified the races of homeowners using federal mortgage data, and looked at every time a dwelling was assessed and then sold in the same year. That allowed them to compare a home’s assessed value and its market value, alongside the homeowner’s race and ethnicity.

The property tax gaps are worst for low earners, but even the highest-earning black Americans pay more on average in property taxes than similarly well-off white peers living nearby.

Whether or not these gaps were caused by explicit racism, Brown said, “you should be just as outraged that this is going on, and we should find a way to fix it.”

The current poverty line for a family of four is $26,200: People with incomes between $10,000 and $30,000 — nearly one-quarter of Americans — are among those scheduled to pay a higher average tax rate in 2021 than in years before the tax “cut” was passed.

The C.B.O. and Joint Committee estimated that those with an income of $20,000 to $30,000 would owe an extra $365 next year — these are people who are struggling just to pay rent and put food on the table.

those on the edge of poverty have been particularly hard hit by the pandemic and the recession its caused, so Trump’s planned tax increases seem especially heartless, and impractical, when you consider that their higher tax payments, while a huge burden for them, will add little to the budget.

At the same time, Trump has given his peers, people with annual incomes in excess of $1 million dollars, or the top 0.3 percent in the country, a huge gift:

saving the average taxpayer in this group over $64,000 — more than the average American family makes in a year.

This analysis makes clear that the vast majority of Americans will be better off with the likely tax reforms that will emerge from a Biden administration than they would be by sticking with Mr. Trump’s ill-conceived tax bill.

Elections matter. Elections gave Republicans the power to enact these tax shenanigans. Neither conscience nor principles stopped them.

The increases, unfairly aimed at the vast majority of Americans who are disproportionately suffering in the pandemic, will cause even more hardship.

The Asian-American coalition, by contrast, is demanding policies that in some way address those who are struggling and in need, and who are often people of color.

“Asian-Americans converge in several notable ways, including experiences with discrimination, voting behavior and attitudes on policies ranging from environmental protection to gun control to higher taxation and social service provision.”

The question for the Asian-American coalition, as for the Democratic Party as a whole, is what constitutes economic justice: the Clinton-Obama neoliberalism of favoring Wall Street and trade deals, with insufficient attention paid to the middle and working classes?

Or a more robust form of economic redistribution that would tax the wealthy at a higher rate, eliminate or greatly reduce student and medical debt, expand health insurance and child care, bolster public schools and enhance access to higher education?

As today’s Asian-American coalition sees it, no policy can be carried out effectively without paying attention to identities and differences

The majority of Asian-Americans, for example, support affirmative action, recognizing that it is needed to reduce inequities not only for African-Americans and Latinos but also for Pacific Islanders and poorer Asian-Americans.

Group interest and self-interest sometimes align and sometimes don’t, but solidarity entails that a coalition’s members sometimes seek justice for themselves, and sometimes for others.

A crucial lesson of the Asian-American coalition is that although celebrating diversity can sometimes draw attention away from issues of economic inequality, that does not mean that a focus on diversity, difference or identity ignores economic inequality. On the contrary, economic inequality in this country has always been built on racial differences.

Only the affirmation of racial differences, harnessed with a robust approach to economic justice, can help alleviate the many economic problems this country faces.