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Posts Tagged ‘Reform’

The 2016 presidential election year in many ways reflects the way in which reality TV — never at a loss for drama, exhibitionism and outrage  — has begun to influence political theater. Political races have always been, to an extent, a dog-and-pony show. But GOP candidate Donald J. Trump’s out-sized assertions and foot-in-mouth moments don’t seem to have cost him to the degree they would have cost a presidential candidate in elections past. Aided by the let-it-all-hang-out evolution of social media, what passes for reasonable discourse rests at an exceedingly low bar. The question is, just how much success can a presidential candidate enjoy using this provocative formula?

Perhaps Trump’s success, beyond the fact that his outrageous statements attract a great deal of media coverage, would have failed if The Donald did not also tap into a growing populist frustration, signaling a sea-change the political establishment can no longer afford to ignore.

For all his grandiosity, Trump has managed to tap into very real American concerns.

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Among the lesser-reported impacts of the Great Recession, during which time millions of Americans lost their homes to foreclosure, is the continuing surge in rental housing demand. Demand has inflated rental rates in already costly markets throughout the country. But rental price inflation is not just a problem hitting high cost of living regions in California and New York — it has hit 90 cities nationwide with no end in sight. Rental costs between 2011 and 2012, alone, increased 4 percent nationally, whereas rents in some markets during a broader period — between 2000 and 2012 — have inflated nearly 25 percent, a study by the Joint Center for Housing Studies of Harvard University reports.

High demand and short supply means one thing: higher prices. But housing isn’t merely a luxury people can forgo. Increased demand for rental housing post recession does not merely reflect the fact that mortgage lending standards are more stringent, but the reality that many Americans are still attempting to rebound from a downwardly mobile spiral. Just because rents are rising doesn’t mean renters are in a position to absorb the price hikes. To the extent rental property demand is an outgrowth of the economic meltdown and stagnant wages — in spite of job growth in more recent years — it would appear housing reform is a topic seriously overdue for national attention.

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She’s the world’s wealthiest woman you’ve never heard of and she’s saying something you probably wish you hadn’t: “Gina Rinehart, world’s richest woman, makes case for $2-a-day pay“,the Los Angeles Times reports.

The Australian mining heiress has a problem. The cost of running a mining operation in Australia cannot compete with Africans willing to work a continent away for $2 per day.

There’s a certain elementary logic to Rinehart’s argument. If the two nations are selling raw materials at vastly different prices because of vastly different costs of labor, her operation loses. In a worse-case scenario, it might not even make sense to go on operating. From Rinehart’s perspective, profit is the objective and benevolence is a job — never mind if the jobs she creates fails to compensate workers well enough to keep the lights on. She’s precariously positioned on that slippery slope so common to today’s political and trade debates: It could be worse: no jobs.

The world’s richest woman has a point. But it doesn’t pass the sustainable-future test.

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