Charles Schwab survey: The average American needs $1.4 million to feel financially comfortable, $2.4 million to feel wealthy

via Bloomberg: Many Americans cite leading a stress-free life and having “peace of mind” as their personal definition of wealth. That doesn’t sound too money-centric on the face of it—until you consider that money, or specifically the lack of it, is a major source of stress. Americans don’t like to admit that assets can buy happiness—just 11 … Read more

It’s official! Crude oil is now in a bear market and it took just over one month to get there. Will stocks follow?

It's official! Crude #oil is now in a bear market and it took just over one month to get there. pic.twitter.com/cR37lJTcUP — jeroen blokland (@jsblokland) November 8, 2018 Besides today, there were 5 times in the history of WTI futures that oil prices declined 9 days straight. Four of those continued with substantial bear markets … Read more

GDP per capita in Africa vs. China (1980 & 2016)

via NaytaData: Source: World Bank and IMF Tools: R and QGIS In 1980 there were only two countries in Africa with a lower GPD per capita than China: Guinea-Bissau and Uganda. Nowadays it’s a whole different story: only Equatorial Guinea had a higher GDP per capita than China. Also the Seychelles had a higher GDP per capita in 2016 … Read more

The cost of each iPhone at launch, adjusted for inflation

via zonination: Data came from this atrocity, which had truncated bars. I did the minimum for remixing, which was transforming it to proper coordinates. More reasons why bar chart baselines should always start at 0. https://flowingdata.com/2015/08/31/bar-chart-baselines-start-at-zero/ http://www.storytellingwithdata.com/blog/2012/09/bar-charts-must-have-zero-baseline https://chandoo.org/wp/start-your-bar-charts-from-zero/ Tools used: R and ggplot2. Raw script Data source: here which you can import directly in R via library(tidyverse); ip<-read_csv(“https://pastebin.com/raw/XsFrQWCa”)

Sundar Pichai makes case for a potential move into China by saying Google already censors information elsewhere

In a New York Times interview, Google CEO Sundar Pichai said when the company follow’s Europe’s “right to be forgotten” laws, “we are censoring search results because we’re complying with the law.” Google faced internal and public backlash earlier this year when the Intercept reported the company was working on a censored version of its … Read more

US Single-Family Home Inventory up 86% Y-o-Y in October; Condominium Inventory up 188%

via zerohedge: This is how housing markets turn. Slowly, then all at once. Seven years of Seattle home prices outpacing wage growth because of low rates; bidding wars replaced by sales at the asking price; days or weeks on the market turning into months; sellers reduce home prices; surging mortgage rates; buyers disappear, and wallah- a … Read more

Breaking: DOJ and DHS Issue New Asylum Rule

https://www.justice.gov/opa/pr/doj-and-dhs-issue-new-asylum-rule Acting Attorney General Matthew Whitaker and Department of Homeland Security Secretary Kirstjen Nielsen today announced an Interim Final Rule declaring that those aliens who contravene a presidential suspension or limitation on entry into the United States through the southern border with Mexico issued under section 212(f) or 215(a)(1) of the Immigration and Nationality Act … Read more

The ‘smart money’ isn’t buying the stock-market bounce, and that could mean a test of the lows: analyst

via marketwatch: Debt-fueled corporate buybacks will be crucial to sustained stock-market rebound: Canaccord Genuity Stocks may have ripped higher Wednesday in a bout of post-midterm relief, but the “smart money” doesn’t appear to be buying into the November bounce, noted one analyst, who argued that equities, as a result, could yet retest their October lows and … Read more

You Can’t Do It Quietly Top Democrat Overheard Discussing Kavanaugh Impeachment Plans

by Thinker The top Democrat on the House Judiciary Committee was overheard Wednesday discussing Democrats’ plans to investigate and try to impeach Supreme Court Justice Brett Kavanaugh. New York Democratic Rep. Jerrold Nadler took a series of phone calls while riding the Acela train from New York to Washington, D.C, not knowing that The Federalist’s … Read more

FEDERAL COURT RULES AGAINST MARYLAND GERRYMANDERING GOP VOTERS INTO OBLIVION

by Mark Tapscott It got lost in the election news this week, but Walter Olson points it out in a tweet late yesterday. The Federal District Court for the District of Maryland ruled that when Maryland’s Democratic establishment redrew congressional districts in 2011, they: •  “The state specifically targeted voters in the sixth congressional district … Read more