dceiver:

sarahshadow:

In economic news, new census data shows nearly one in 15 Americans—more than 20 million people—are now so poor they live at least 50 percent below the official poverty level. The figure is the highest ever recorded. Forty states and the District of Columbia have had increases in the poorest of the poor since 2007. The District of Columbia ranked highest, followed by Mississippi and New Mexico.

And typically, when people size up the economy in the DC-Metro area as a whole (here we bring in Northern Virginia and adjacent counties in Maryland), you find that it’s the nation’s richest metropolitan area and boasts one of the nation’s lowest unemployment rates. Lotta concentrated income disparity in the Imperial City, is what I’m saying. Should be readily apparent to everyone who has a hand at the tiller or policymaking. But ignorance is a bliss served nightly at Charlie Palmer’s.

(Source: skog-sjel)

For many in the West, poverty is almost synonymous with hunger. Indeed, the announcement by the United Nations Food and Agriculture Organization in 2009 that more than 1 billion people are suffering from hunger grabbed headlines in a way that any number of World Bank estimates of how many poor people live on less than a dollar a day never did.

But is it really true? Are there really more than a billion people going to bed hungry each night? Our research on this question has taken us to rural villages and teeming urban slums around the world, collecting data and speaking with poor people about what they eat and what else they buy, from Morocco to Kenya, Indonesia to India. We’ve also tapped into a wealth of insights from our academic colleagues. What we’ve found is that the story of hunger, and of poverty more broadly, is far more complex than any one statistic or grand theory; it is a world where those without enough to eat may save up to buy a TV instead, where more money doesn’t necessarily translate into more food, and where making rice cheaper can sometimes even lead people to buy less rice.

But unfortunately, this is not always the world as the experts view it. All too many of them still promote sweeping, ideological solutions to problems that defy one-size-fits-all answers, arguing over foreign aid, for example, while the facts on the ground bear little resemblance to the fierce policy battles they wage.

Jeffrey Sachs, an advisor to the United Nations and director of Columbia University’s Earth Institute, is one such expert. In books and countless speeches and television appearances, he has argued that poor countries are poor because they are hot, infertile, malaria-infested, and often landlocked; these factors, however, make it hard for them to be productive without an initial large investment to help them deal with such endemic problems. But they cannot pay for the investments precisely because they are poor — they are in what economists call a “poverty trap.” Until something is done about these problems, neither free markets nor democracy will do very much for them.

(Source: azspot)

think4yourself:

savagemike:

JP Morgan is the largest processor of food stamp benefits in the United States. JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes. Yes, you read that correctly. When the number of Americans on food stamps goes up, JP Morgan makes more money. In a video, JP Morgan executive Christopher Paton admits that this is “a very important business to JP Morgan” and that it is doing very well. Considering the fact that the number of Americans on food stamps has exploded from 26 million in 2007 to 43 million today, one can only imagine how much JP Morgan’s profits in this area have soared. 

It’s things like this that make me very wary of any sort of privatization of functions usually performed by our government. When a company has a direct vested interest in keeping people down (whether it’s privatization of food stamps or prisons), it seems to me to be ripe for abuse and corruption. As I’ve said before, not everything should make a profit.

interesting

(Source: abbyjean)