The FBI Tragedy: Elites Above The Law

Authored by Victor Davis Hanson via NationalReview.com,

After decades in the FBI, the top brass came to believe they could flout the law and pursue their own political agendas.

One of the media and beltway orthodoxies we constantly hear is that just a few bad apples under James Comey at the FBI explain why so many FBI elites have been fired, resigned, reassigned, demoted, or retired — or just left for unexplained reasons. The list is long and includes director James Comey himself, deputy director Andrew McCabe, counterintelligence agent Peter Strzok, attorney Lisa Page, chief of staff James Rybicki, general counsel James Baker, assistant director for public affairs Mike Kortan, Comey’s special assistant Josh Campbell, executive assistant director James Turgal, assistant director for office of congressional affairs Greg Bower, executive assistant director Michael Steinbach, and executive assistant director John Giacalone. In short, in about every growing scandal of the past two years — FISA, illegal leaking, spying on a presidential candidate, lying under oath, obstructing justice — someone in the FBI is involved.

We are told, however, that the FBI’s culture and institutions are exempt from the widespread wrongdoing at the top. Such caution is a fine and fitting thing, given the FBI’s more than a century of public service. Nonetheless, many of those caught up in the controversies over the Russian-collusion hoax were not recent career appointees. Rather, many came up through the ranks of the FBI. And that raises the question, for example, of where exactly Peter Strzok (22 years in the FBI) learned that he had a right to interfere in a U.S. election to damage a candidate that he opposed.

And why would an Andrew McCabe (over 21 years in the FBI) think he had the duty to formulate an “insurance policy” to take out a presidential candidate? Or why would he even consider overseeing an FBI investigation of Hillary Clinton’s improper use of emails when his wife had been a recent recipient of Clinton-related PAC money? And why would McCabe contemplate leaking confidential FBI information to the press or even dream of setting up some sort of operation to remove a sitting president under the 25th Amendment? And how did someone like the old FBI vet Peter Strozk ever end up at the center of the entire mess — opening up the snooping on the Trump campaign while hiding that fact and while briefing the candidate on Russian interference in the election, interviewing Michael Flynn, preening as a top FBI investigator for Robert Mueller’s dream team, right-hand man of “Andy” McCabe, convincing Comey to change the wording of his writ in the Clinton-email-scandal investigation, softball coddling of Huma Abedin and Cheryl Mills, instrumental in the Papadopoulos investigation con — all the while conducting an affair with fellow FBI investigator and attorney Lisa Page and bragging about his assurance that the supposedly odious Trump would be prevented from being elected. If a group of Trump zealots were to call up the FBI tomorrow and allege that a member of Joe Biden’s family has had unethical ties with the Ukrainian or Chinese government, would that gambit “alarm” the FBI enough to prompt an investigation of Biden and his campaign? How many career-professional Peter Strozks are still at the agency?

In sum, why did so many top FBI officials, some with long experience in the FBI, exhibit such bad judgment and display such unethical behavior, characterized by arrogance, a sense of entitlement, and a belief that they were above both the law and the Constitution itself? Were they really just rogue agents, lawyers, and administrators, or are they emblematic of an FBI culture sorely gone wrong?

How and why would James Comey believe that as a private citizen he had the right to leak classified memos of presidential conversations that he had recorded on FBI time and on FBI machines?

Does the FBI inculcate behavior that prompts its officials to repeatedly testify under oath that they either don’t know or can’t remember – in a fashion that would earn an indictment for most similarly interrogated private citizens? Was Strozk’s testimony to the Congress emblematic of a career FBI agent in his full? Was Comey’s? Was McCabe’s?

To answer those questions, perhaps we can turn to an analogous example of special counsel and former FBI director Robert Mueller. We are always advised something to the effect that the admirable Vietnam War veteran and career DOJ and FBI administrator Bob Mueller has a sterling reputation, and thus we were to assume that his special-counsel investigation would be free from political bias. To suggest otherwise was to be slapped down as a rank demagogue of the worse kind.

But how true were those beltway narratives? Mueller himself had a long checkered prosecutorial and investigative career, involving questionable decisions about the use of FBI informants in Boston, and overseeing absolutely false FBI accusations against an innocent suspect in the sensationalized anthrax case that began shortly after 9/11.

The entire Mueller investigation did not reflect highly either on Mueller or the number of former and current DOJ and FBI personnel he brought on to his team. In a politically charged climate, Mueller foolishly hired an inordinate number of political partisans, some of whom had donated to the Clinton campaign, while others had legally defended the Clinton Foundation or various Clinton and Obama aides. Mueller’s point-man Andrew Weissman was a known Clinton zealot with his own past record of suspect prosecutorial overreach.

Mueller did not initially disclose why FBI employees Lisa Page and Peter Strozk were taken off his investigative team, and he staggered their departures to suggest that their reassignments were normal rather than a consequence of the couple’s unprofessional personal behavior and their textual record of rank Trump hatred. Mueller’s very appointment was finessed by former FBI director and Mueller friend James Comey and was largely due to the hysteria caused by Comey’s likely felonious leaks of confidential and classified FBI memos — a fact of no interest to Mueller’s soon-to-be-expanded investigation.

During the investigation, Mueller was quite willing to examine peripheral issues such as the scoundrelly behavior of former Trump lawyer Michael Cohen and the inside lobbying of Paul Manafort for foreign governments. Fine. But Mueller was curiously more discriminating in his non-interest in crimes far closer to the allegations of Russian collusion. That is, he was certainly uninterested about how and when the basis for his entire investigation arose — the unverified and fallacious Steele dossier that had been deliberately seeded among the FBI, CIA, and DOJ to achieve official imprimaturs so it could then be leaked to the press to ruin the campaign, transition, and presidency of Donald Trump.

Mueller’s team also deliberately edited a phone message from Trump counsel John Dowd to Robert Kelner, General Michael Flynn’s lawyer, to make it appear incriminating and possibly unethical or illegal. Only after a federal judge ordered the full release of the transcript did the public learn the extent of Mueller’s selective and misleading cut-and-paste of Dowd’s message.

Mueller’s own explanations about the extent to which he was guided by the precedent of presidential exemption from indictment are at odds with his own prior statements and in conflict with what Attorney General Barr has reported from a meeting with Mueller and others. In those meetings, Mueller assured that he was after the truth and did not regard prior legal opinions about the illegality of indicting a sitting president as relevant to his own investigations. But when he essentially discovered he had no finding of collusion, he then mysteriously retreated to the previously rejected notion that he was powerless to indict Trump on a possible obstruction charge.

Mueller displayed further contortions when he recited a number of alleged Trump wrongdoings but then backed off by concluding that, while such evidence for a variety of different reasons did not justify an indictment of Trump, nonetheless Trump should not be exonerated of obstruction of justice.

Mueller thereby established a new but lunatic precedent in American jurisprudence in which a prosecutor who fails to find sufficient cause to indict a suspect nonetheless releases supposedly incriminating evidence, with a wink that the now-besmirched suspect cannot be exonerated of the alleged crimes. Think what Mueller’s precedent of not-not-guilty would do to the American criminal-justice system, as zealous prosecutors might fish for just enough dirt on a suspect to ruin his reputation, but not find enough for an indictment, thereby exonerating their own prosecutorial failure by defaming a “guilty until proven innocent” suspect.

It is becoming increasingly apparent that Mueller’s team knew early on in their investigation that his lead investigators Peter Strzok and Lisa Page had been correct in their belief that there was “no there there” in the charges of collusion — again the raison d’être of their entire investigation.

Yet Mueller’s team continued the investigation, aggregating more than 200 pages of unverified or uncorroborated news accounts, online essays, and testimonies describing all sorts of alleged unethical behavior and infelicities by Trump and his associates, apparently in hopes of compiling their own version of something like the Steele dossier. Mueller sought to publish a compendium of Trump bad behavior that fell below the standard of criminal offense but that would nonetheless provide useful fodder for media sensationalism and congressional partisan efforts to impeach the now supposedly not-not guilty president.

Note again, at no time did Muller ever investigate the Steele dossier that had helped to create his existence as special counsel, much less whether members of the FBI and DOJ had misled a FISA court by hiding critical information about the dossier to obtain wiretaps of American citizens, texts that Mueller himself would then use in his effort to find criminal culpability.

We were told throughout the 22-month investigation that “Bob Mueller does not leak.” But almost on a weekly schedule, left-wing cable news serially announced in formulaic fashion that “the walls were closing in on” and the “noose was tightening around” Trump as another “bombshell” disclosure was anticipated, according to “sources close to the Mueller investigation,” “unnamed sources,” and “sources who chose to remain unidentified.” On one occasion, CNN reporters mysteriously showed up in advance at the home of a Mueller target, to capture on camera the arrival of paramilitary-like arresting officers.

When it is established beyond a doubt that foreign surveillance of and contact with George Papadopoulos was used to entrap a minor Trump aide as a means of providing an ex post facto justification for the earlier illegal FBI and CIA surveillance of the Trump campaign, and when it is shown without doubt that Steele had little if any corroborating evidence for his dirty dossier, Mueller’s reputation unfortunately will be further eroded.

Yet the question is not merely whether a Comey, McCabe, or Mueller is atypical of the FBI. Rather, where in the world, if not from the culture of the FBI, did these elite legal investigators absorb the dangerous idea that FBI lawyers and investigators could flout the law and in such arrogant fashion use their vast powers of the government to pursue their own political agendas? And why was there no internal pushback at a supercilious leadership that demonstrably had gone rogue? Certainly, the vast corpus of the Strzok-Page correspondence does reflect a unprofessional, out-of-control culture at the FBI.

Just imagine: If an agent Peter Strozk interviewed you and overstepped his purview, would you, the aggrieved, then appeal to his boss, Andrew McCabe? And if Andrew McCabe ignored your complaint, would you, the wronged, then seek higher justice from a James Comey, who in turn might rely on a legal opinion from a Lisa Page or a brief from a James Baker? And failing that, might a Robert Mueller as an outside auditor rectify prior FBI misconduct?

Fairly or not, the current FBI tragedy is that an American citizen should be duly worried about his constitutional rights any time he is approached by such senior FBI officials. That is not a slur on the rank and file, but the legacy of the supposed best and brightest of the agency and their distortions of the bureau’s once professional creed.

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via ZeroHedge News http://bit.ly/31pWLqx Tyler Durden

Not The Onion: Biden Promises To Cure Cancer If Elected

Having promised to “make America America again,” Democratic presidential frontrunner Joe Biden decided to one-up President Trump during their dueling rallies in Iowa… though this time, we suspect “sleepy” Joe may have over-reached.

Not content with the usual impossible campaign promises, Biden promised to cure cancer if he’s elected…

I’ve worked so hard in my career, that I promise you, if I’m elected president you’re gonna see the single most important thing that changes America, we’re gonna cure cancer,” Biden told a crowd in Ottumwa, Iowa on Tuesday.

While the fight against cancer is close to Biden’s heart – his son Beau died of the disease in 2015 – the grand promise did nothing to reassure potential voters that he is more than just a flip-flopping panderer.

Biden should know better, as RT reports, while vice president under Obama, he worked on the administration’s “Cancer Moonshot” – which was supposed to fit 10 years of “advances in cancer prevention, diagnosis and treatment” into five. While such a goal is conveniently impossible to evaluate, he would at least have learned how cancer research works, especially since he founded the Biden Cancer Initiative after leaving the White House. That he’d make such a bizarre promise despite his experience confused many on social media

Most recently, Biden’s sudden about-faces on the Hyde Amendment, which blocks the use of federal funds for abortions, and the US’ relationship with China:

Biden on May 1: “China is going to eat our lunch? Come on, man…They’re not competition for us.

Biden today: “We are in a competition with China…We need to get tough with China. They are a serious challenge to us, and in some areas a real threat.”

…have confused voters who aren’t sure what (if anything) he stands for, spawning a new nickname from President Donald Trump: “Floppy Joe.”

via ZeroHedge News http://bit.ly/2MH5KQL Tyler Durden

Indian Gold Demand Surged In April And May

Via SchiffGold.com,

After a dip in demand in 2018, it appears Indians are buying gold again.

Anecdotal data seemed to indicate strong demand for the yellow metal in India during the Akshaya Tritiya holiday. Retailers reported sales were up by as much as 25%. As it turns out, demand was indeed strong. Gold imports into India were up 36% year-over-year in May, according to sources cited by Bloomberg.

India imported 105.8 tons of gold in May. That compares with just 77.6 tons a year earlier. Combined shipments of gold into the country during April and May came in at 226.6 tons. That was up about 74% from the same period in 2018.

According to Yahoo Finance, “Higher gold imports by India – the world’s second-biggest consumer of the yellow metal – could support global prices further.”

Gold imports into India dipped by about a fifth in 2018, primarily due to a weak rupee and high domestic gold prices.

As Bloomberg reports,

“Sales were amazing last month, with huge demand seen during Akshaya Tritiya. The drop in prices has really complemented that trend,” said G.V. Sreedhar, managing director of Sree Rama Jewels and a former chairman of the All India Gem & Jewellery Domestic Council. Purchases for weddings were also good when compared to last year and sales are expected to be robust this month as well, he said.

Analysts say dynamics are in place to support continued strong demand through the end of the year. Gold-buying usually picks up in India in the last half of the year with wedding season and harvest time. Forecasters expect a normal monsoon season this year. A good monsoon season is good news for Indian farmers, as well as for the broader Indian economy. And when rural Indians have money in their pockets, they buy gold.

India ranks as second in the world in gold consumption behind China. According to Yahoo Finance, combined demand for gold from India and China has soared 71% in the last decade. A rising middle class and broad economic growth in both countries have spurred investment in the yellow metal.

Indians traditionally buy and hold gold. The yellow metal is interwoven into the country’s marriage ceremonies and cultural rites. Indians also value gold as a store of wealth, especially in poor rural regions. Two-thirds of India’s gold demand comes from these areas, where the vast majority of people live outside the official tax system.

Gold is not just a luxury in India. Even poor people buy gold in the Asian nation. According to an ICE 360 survey last year, one in every two households in India purchased gold within the last five years. Overall, 87% of households in the country own some amount of the yellow metal. Even households at the lowest income levels in India own some gold. According to the survey, more than 75% of families in the bottom 10% had managed to buy gold.

While owning precious metals is part of India’s culture, the fundamental reasons Indians buy gold and silver are no different than those that motivate people over the world to invest in precious metals – they historically preserve wealth, they provide a safe haven, and most significantly, they are real money.

via ZeroHedge News http://bit.ly/2wPM6Yi Tyler Durden

Desperate Vancouver Developers Woo Millennials Using Their Ultimate Weakness: Avocado Toast And Wine

In yet another sign that Vancouver’s housing market has gone soft, desperate developers are resorting to all sorts of gimmicks to encourage young buyers to spring for a new place – such as a year’s supply of avocado toast, or a free glass of wine every day for a year.

It’s a slower, more competitive market,” according to Vancounver-based Wesgroup Properties VP Brad Jones, adding “The onus is on us to show we have the most attractive offering.” 

As we noted in April, the decline of Vancouver’s housing market has become worldwide news – with sales plummeting 46% over the past year to levels not seen since 1986

Buyers continue to have the strong upper hand after years of manipulated price appreciation due to Chinese tycoon “hot money” flooding the market. That panic buying is now quickly turning to panic selling.

Prior to the August 2016 implementation of the foreign buyers’ tax in Vancouver, condominiums in Metro Vancouver were firmly in seller’s market territory, defined by a sales-to-active-listings ratio of more than 20 per cent for several months in a row, according to data from the Real Estate Board of Greater Vancouver.

But even condos proved unable to remain impervious to multiple government intervention measures. The ratio dropped from peaks of over 80 per cent to below 22 per cent in September 2018, where it’s stayed since. If it dips below 12 per cent for several months, it becomes a buyer’s market and prices tend to come down. –The Globe and Mail

And as condos sat on the market longer and longer – some hitting 40 days or more on average between December 2018 and February 2019 – developers have had to get creative. 

Condos at one Wesgroup’s newest developments, Mode in Vancouver’s southern Killarney neighbourhood, come with a promise of a free glass of wine a day for a year. That incentive comes as a $1,500 gift card to a neighbourhood wine and alcohol store, which equates to about $29 a week to spend on a bottle of wine. –The Globe and Mail

“Now is the time to be creative,” said Jones, who noted that the wine incentive generated a “massive amount of interest.” 

The wine promotion was launched after Woodbridge Homes Ltc. announced that anyone who bought one of their Kira condos in the West Coquitlam development would receive a year’s supply of avocado toast – in the form of a $500 gift card to a local eatery. 

After the announcement viral, the developer sold 60% of their initial offering according to MLA Canada president Ryan Lalonde. MLA provides real estate sales and project marketing services to developers, including Woodbridge. 

In the first three weeks of sales, Lalonde said nearly 85 per cent of purchasers referenced the sandwich campaign and four buyers became aware of the building solely because of the media coverage of the toast offering.

“We wanted to find a way to cut through that noise (in the marketplace),,” said Lalonde, who added that the flood of media attention they received was unexpected. 

What will they think of next? Lowering prices? 

via ZeroHedge News http://bit.ly/2WB9xUg Tyler Durden

Pat Buchanan: How Do We Remain One Nation & One People?

Authored by Patrick Buchanan via Buchanan.org,

“My religion defines who I am. And I’ve been a practicing Catholic my whole life,” said Vice President Joe Biden in 2012. “I accept my church’s position on abortion as … doctrine. Life begins at conception. … I just refuse to impose that on others.”

For four decades, Biden backed the Hyde Amendment, which prohibits the use of the tax dollars of Joe’s fellow Catholics to pay for what they view as the killing of the innocent unborn.

Last week, Joe flipped. He now backs the repeal of the Hyde Amendment.

Ilyse Hogue of NARAL Pro-Choice America welcomed home the prodigal son: “We’re pleased that Joe Biden has joined the rest of the 2020 Democratic field in coalescing around the Party’s core values — support for abortion rights.”

But when did the right to an abortion – a crime in many states before 1973 – become a “core value” of the Democratic Party?

And what are these “values” of which politicians incessantly talk?

Are they immutable? Or do they change with the changing times?

Last month, Disney CEO Bob Iger said his company may cease filming in Georgia if its new anti-abortion law takes effect: “If (the bill) becomes law, I don’t see how it’s practical for us to continue to shoot there.”

The Georgia law outlaws almost all abortions, once a heartbeat is detected, some six to eight weeks into pregnancy. It reflects the Christian conservative values of millions of Georgians.

To Iger and Hollywood, however, Georgia’s law radically restricts the “reproductive rights” of women, and is a moral outrage.

What we have here is a clash of values.

What one side believes is preserving the God-given right to life for the unborn, the other regards as an assault on the rights of women.

The clash raises questions that go beyond our culture war to what America should stand for in the world.

“American interests and American values are inseparable,” Pete Buttigieg told Rachel Maddow.

Secretary of State Mike Pompeo told the Claremont Institute:

“We have had too little courage to confront regimes squarely opposed to our interests and our values.”

Are Pompeo and Mayor Pete talking about the same values?

The mayor is proudly gay and in a same-sex marriage. Yet the right to same-sex marriage did not even exist in this country until the Supreme Court discovered it a few years ago.

In a 2011 speech to the U.N., Secretary of State Hillary Clinton said, “Gay rights are human rights,” and she approved of U.S. embassies flying the rainbow flag during Pride Month.

This year, Mike Pompeo told the U.S. embassy in Brazil not to fly the rainbow flag. He explained his concept of his moral duty to the Christian Broadcasting Network, “The task I have is informed by my understanding of my faith, my belief in Jesus Christ as the Savior.”

The Christian values Pompeo espouses on abortion and gay rights are in conflict with what progressives now call human rights.

And the world mirrors the American divide.

There are gay pride parades in Jerusalem and Tel Aviv, but none in Riyadh and Mecca. In Brunei, homosexuality can get you killed.

To many Americans, diversity — racial, ethnic, cultural, religious — is our greatest strength.

Yet Poland and Hungary are proudly ethnonationalist. South Korea and Japan fiercely resist the racial and ethnic diversity immigration would bring. Catalans and Scots in this century, like Quebecois in the last, seek to secede from nations to which they have belonged for centuries.

Are ethnonationalist nations less righteous than diverse nations likes ours? And if diversity is an American value, is it really a universal value?

Consider the treasured rights of our First Amendment — freedom of speech, religion and the press.

Saudi Arabia does not permit Christian preachers. In Afghanistan and Pakistan, converts to Christianity face savage reprisals. In Buddhist Myanmar, Muslims are ethnically cleansed.

These nations reject an equality of all faiths, believing instead in the primacy of their own majority faith. They reject our wall of separation between religion and state. Our values and their values conflict.

What makes ours right and theirs wrong? Why should our views and values prevail in what are, after all, their countries?

Under our Constitution, many practices are protected – abortion, blasphemy, pornography, flag-burning, trashing religious beliefs – that other nations regard as symptoms of a disintegrating society.

When Hillary Clinton said half of all Trump supporters could be put into a “basket of deplorables” for being “racist, sexist, homophobic, xenophobic, Islamophobic,” she was conceding that many Trump’s supporters detest many progressive values.

True, but in the era of Trump, why should her liberal values be the values America champions abroad?

With secularism’s triumph, we Americans have no common religion, no common faith, no common font of moral truth. We disagree on what is right and wrong, moral and immoral.

Without an agreed-upon higher authority, values become matters of opinion. And ours are in conflict and irreconcilable.

Understood. But how, then, do we remain one nation and one people?

via ZeroHedge News http://bit.ly/2MEcDCs Tyler Durden

Space Tourism: A Round Trip Ticket To The Space Station Costs $50 Million

NASA has announced it will open the International Space Station (ISS) for commercial business, permitting anyone who pays an estimated $50 million for a round trip ticket plus $35,000 per night, to stay in space, reported USA Today.

“We are announcing the ability for private astronauts to visit the space station on U.S. vehicles and for companies to engage in commercial profit-making activities,” said Jeff DeWit, NASA’s chief financial advisor, at a press conference last Friday at NASDAQ headquarters in New York.

Since the Space Transportation System (STS) ended in 2011, NASA has partnered with Boeing and SpaceX to transport cargo to ISS. Private citizens who want to go to space will have to make arrangements with those companies to get into Low Earth orbit (LEO).

“If a private astronaut is on station, they will have to pay us while they’re there for the life support, the food, the water, things of that nature,” DeWit added.

Private astronauts will need to meet the same physical requirements as any other astronaut. NASA will allow two private astronauts per year on the ISS with an expected price tag of $50 million per trip, and the first launch could be in the next several years.

Private astronauts must meet the following qualifications:

  • Pass an exhaustive physical exam
  • 20/20 distance and near vision in each eye (corrective lenses or corrective surgery permitted)
  • Bachelor’s degree in engineering, biological science, physical science, computer science or mathematics
  • Minimum of three years of related professional experience obtained after degree OR at least 1,000 hours pilot-in-command time on jet aircraft
  • Since about 2016, NASA has received more than 18,000 applications since 2016, only 120 made it to the interview stage, and just five were accepted into the program.

Private astronauts must complete two years of basic training, study Russian, understand how to operate the equipment on the ISS, perform spacewalks and land a Soyuz rocket if a mishap occurred during launch.

“We are so excited to be part of NASA as our home and laboratory in space transitions to become accessible to commercial and marketing opportunity as well as to private astronauts,” said astronaut Christina Koch, who currently lives aboard the ISS, in a NASA video announcement. “Enabling a vibrant economy in low-earth orbit has always been a driving element on the space station program and will make space more accessible to all Americans.”

It was right after the Dot Com bust when California businessman Dennis Tito became the first paying visitor of the ISS.

Bill Gerstenmaier, a NASA’s associate administrator, said the ISS would become too costly for the government to maintain into the 2020s, indicates opening up the space station to tourism could generate enough revenue to maintain the craft in LEO.

Tourism revenue from ISS could also support the agency in its mission on returning to the moon by the mid-2020s.

via ZeroHedge News http://bit.ly/2Kbl8mD Tyler Durden

How Americans Make And Spend Their Money, By Education Level

Authored by Jeff Desjardins via VisualCapitalist.com,

Months ago, we showed you a set of data visualizations that highlighted how people make and spend their money based on income groups.

Today’s post follows a similar theme, and it visualizes differences based on education levels.

Below, we’ll tackle the breakdowns of several educational groupings, ranging from high school dropouts to those in the highest education bracket, which is defined as having achieved a master’s, professional, or doctorate degree.

Income and Spending, by Education

The data visualizations in today’s post come to us from Engaging Data and they use Sankey diagrams to display data from the Bureau of Labor Statistics (BLS) that shows income and expenditure differences between varying levels of education in America.

The four charts below will show data from the following categories:

  1. Less than high school graduate

  2. High school graduate

  3. Bachelor’s degree

  4. Master’s, professional, or doctorate degree

It should be noted that the educational level listed pertains to the person the BLS defines as the primary household member. Further, people in households can be at different ages and at different stages in their career – for example, someone with a Master’s degree could be 72 years old and collecting pension payments, and this impacts the data.

Less than High School Graduate – $28,245 in spending (98.5% of total income)

These contain an average of 2.2 people (0.7 income earners, 0.6 children, and 0.5 seniors)

The average household in this category brings in $17,979 of salary income, as well as an additional $7,503 from social security programs.

Almost all money (98.5%) is spent, and on average these households are actually pulling money from savings (or taking out loans) to make ends meet. The biggest expenditure categories include: housing (23.5%), foot at home (12.3%), household expenses (8.4%), and gas/insurance (8.2%).

High School Graduate – $35,036 in spending (87.3% of total income)

These contain an average of 2.3 people (1.0 income earners, 0.6 children, and 0.4 seniors)

The average household here brings in $29,330 of salary, as well as $9,008 from social security.

These households spend 87.3% of their income, while putting $3,113 (7.8%) away in savings each year. The biggest expenditure categories include housing (21.7% of spending), food at home (10.1%), gas/insurance (10.0%), and vehicles (7.7%).

Bachelor’s Degree – $63,373 in spending (68.6% of total income)

These contain an average of 2.5 people (1.5 income earners, 0.6 children, and 0.4 seniors)

Households with at least one person with a Bachelor’s degree earn $81,629 per year in salary, as well as nearly $11,000 stemming from a combination of social security, dividends, property, and other income.

Roughly 68.6% of income is spent, with 16.6% going to savings. Top expenditures include housing (22.4%), gas/insurance (8.8%), household expenses (7.9%), and food at home (7.6%).

Graduate Degree – $83,593 in spending (62.9% of total income)

These contain an average of 2.6 people (1.5 income earners, 0.6 children, and 0.4 seniors)

Finally, in the most educated category available, the average amount of salary coming into households is $116,018, with roughly an additional $17,000 coming in from other sources such as social security, dividends, property, and other income.

Here, 62.9% of income gets spent, and 17.3% gets put towards savings. The most significant expenditure categories are housing (23.3%), household expenses (8.4%), gas and insurance (7.2%), and food at home (6.9%).

A Changing Role for Education?

For now, there is a clear link between certain types of college degrees and higher salaries.

However, as total student debt continues to hit record highs of $1.5 trillion and as more remote educational options proliferate online, it will be interesting to see how these charts are impacted in the coming years.

By the year 2030, do you think education will still have the same strength of correlation with income levels?

    via ZeroHedge News http://bit.ly/2KbmcqA Tyler Durden

    Australia’s “Grim” Retail Sector “Clearly In Recession”, Warns National Australia Bank

    A leading Australian business survey has concluded that the continent’s retail sector is “clearly in recession”. 

    New data from NAB shows Australia’s “Index of Business Conditions” falling by 2 points in May, putting it well below its long run average. The data comes a week after Australia’s Reserve Bank was forced to cut interest rates to its lowest level in history and additional data from the Australian Bureau of Statistics showed the economy had slowed to its weakest level since the 2009 financial crisis. 

    Alan Oster, NAB Group Chief Economist said on the NAB Economics podcast:

    “Business confidence saw a sharp increase in the month following the Federal election and a confirmation from the RBA that rates would be cut in June. We think this will be a short-term spike given other forward-looking indicators saw further deterioration in the month. Forward orders declined further and in addition to being well below average are negative. Capacity utilisation has also pulled back in 2019 to date and is now a touch below average”.

    He continued: “While confidence, at least at face value was a positive outcome, business conditions deteriorated further. Trading conditions and profits are particularly weak. The employment index which we are watching closely, partially reversed some of its decline last month, but is only around average.”

    Business conditions declined across all states except Queensland. The NAB survey’s measure of trading, or sale, also fell, down by 5 points. Forward orders also slipped a point. 

    Oster continued: “Conditions have weakened across all states over the past year though NSW, VIC and SA are most favorable in trend terms. Of some concern is the recent deterioration in WA which is now negative, despite the mining sector still showing strength.”

    He continued, stating on the podcast: “While the retail industry has lagged the other sectors for some time, the recent deterioration has seen conditions in the industry fall to levels not seen since the GFC. This suggests that the consumer remains highly cautious with anything but spending on essentials because of ongoing slow income growth, high debt levels and possibly some concerns over falling house prices. Forward-looking indicators suggest that the bounce in confidence is likely to be short-lived and that conditions are unlikely to turn around any time soon. We will also continue to closely watch the employment index for a lead on any turning points in the labour market.”

    Queensland University of Technology associate professor and retail expert Gary Mortimer told News.Com.Au: “Certain sectors are clearly struggling — such as apparel, footwear and accessories — however this category has been impacted by aggressive discounting and the entry of international fast fashion retailers.”

    Oster said that Australians are now reluctant to spend and that the recently elected government would need to deliver on tax cuts to stimulate the economy. 

    He concluded by saying he did not want to “overemphasise” the doom and gloom in the sector, but said “readings of -27, which we’ve got in retail, [are] so grim”.

    via ZeroHedge News http://bit.ly/2MF9BOh Tyler Durden

    This Is How War With Iran Is Manufactured

    via Ilana Novick, a blogger at Truthdig

    Withdrawing from the Iran nuclear deal was a top campaign priority for President Trump, one he accomplished in 2018. In a May 8 speech from the White House, he said the agreement was “a horrible one-sided deal that should have never, ever been made.” He also claimed in a tweet the agreement increased Iran’s military budget, which CNN called misleading. When reporters from The Washington Post asked the source of the claim, the White House provided a Forbes article by an Iranian writer named Heshmat Alavi.

    Alavi is described in his Forbes contributor biography as “an Iranian activist with a passion for equal rights.” His byline also appears in The Hill, The Daily Caller and The Federalist. The problem, however, is not only that President Trump may be using a misleading claim to support his decision to withdraw from an international nonproliferation agreement, but that the person who wrote about the claim may not exist, according to new reporting from The Intercept.

    “Alavi’s persona,” Murtaza Hussain writes in The Intercept, “is a propaganda operation run by the Iranian opposition group Mojahedin-e-Khalq, which is known by the initials MEK.”

    Hassan Heyrani, a high-ranking defector from the MEK and one of Hussain’s sources, told The Intercept that Alavi’s persona is a group effort “run by a team of people from the political wing of the MEK,” who are based in Albania. According to Heyrani, the group writes under a pseudonym partly because MEK abhors individuality. As Heyrani told The Intercept, “… the leader is the first man in the organization, and everything should be under their shadow.”

    Iranian President Hassan Rouhani speaks at Mehrabad Airport, in Tehran, Iran, in September 2018. (Iranian Presidency Office / AP)

    Withdrawing from the Iran nuclear deal was a top campaign priority for President Trump, one he accomplished in 2018. In a May 8 speech from the White House, he said the agreement was “a horrible one-sided deal that should have never, ever been made.” He also claimed in a tweet the agreement increased Iran’s military budget, which CNN called misleading. When reporters from The Washington Post asked the source of the claim, the White House provided a Forbes article by an Iranian writer named Heshmat Alavi.

    Alavi is described in his Forbes contributor biography as “an Iranian activist with a passion for equal rights.” His byline also appears in The Hill, The Daily Caller and The Federalist. The problem, however, is not only that President Trump may be using a misleading claim to support his decision to withdraw from an international nonproliferation agreement, but that the person who wrote about the claim may not exist, according to new reporting from The Intercept.

    “Alavi’s persona,” Murtaza Hussain writes in The Intercept, “is a propaganda operation run by the Iranian opposition group Mojahedin-e-Khalq, which is known by the initials MEK.”

    Hassan Heyrani, a high-ranking defector from the MEK and one of Hussain’s sources, told The Intercept that Alavi’s persona is a group effort “run by a team of people from the political wing of the MEK,” who are based in Albania. According to Heyrani, the group writes under a pseudonym partly because MEK abhors individuality. As Heyrani told The Intercept, “… the leader is the first man in the organization, and everything should be under their shadow.”

    MEK, Hussain explains, is “deeply unpopular” in Iran, and is now looking to English-speaking audiences in the United States, Canada and the United Kingdom. These are all places, Hussain writes, “whose foreign policies are crucial nodes in the MEK’s central goal of overthrowing the Iranian regime.”

    Creating a writer persona isn’t the MEK’s only attempt at disinformation. Reza Sadeghi, a former MEK member now living in Canada, told The Intercept, “We were always active in making false news stories to spread to the foreign press and in Iran.” MEK also donated money to various politicians and paid them to make speeches favorable to MEK.

    Concentrating its campaigns outside of Iran is part of MEK’s strategy. As Massoud Khodabandeh, a former member of MEK’s intelligence department, told The Intercept, “The group barely produces content in Farsi. They seem to have given up on having a domestic audience in Iran. Their point now is to influence people in the English-speaking world. … Their online strategy works in Washington; it doesn’t work in Tehran.”

    Hussain elaborates:

    The MEK conducts relentless online information campaigns, using an army of bots to flood online debates about Iran with the group’s perspective. One of the goals of the MEK team that manages the Hesmat Alavi account, Heyrani said, is to get articles under Alavi’s name published in the American press. The Intercept’s requests for comment to the MEK’s political wing, along with interview requests to the alleged operators of Alavi’s persona, went unanswered.

    Alavi was a successful creation, particularly in Forbes, which published 61 articles with his byline between April 2017 and April 2018. Many of the articles combined denunciations of the current Iranian regime with suggestions that MEK’s leader should be the leader of Iran. According to The Intercept, none of the outlets that published Alavi’s byline were able to confirm that they ever spoke with him. The Daily Caller said it stopped publishing him due to quality concerns. Forbes said it ended the relationship in 2018.

    Before MEK’s articles influenced U.S. policymaking, MEK was listed as a Foreign Terrorist Organization by the U.S. State Department, due to its violent history, a classification that was removed as part of the Iran deal.

    Read the full report in The Intercept here.

    via ZeroHedge News http://bit.ly/2WsVzPr Tyler Durden

    Cause Of Deadly F-35 Japan Crash Blamed On Pilot Loss Of ‘Spatial Awareness’

    Japanese officials have reported that the most likely cause of a deadly F-35 crash was due to the pilot losing “spatial awareness” during the April 9 exercise over the Pacific Ocean, reports the BBC. The jet went lost contact 28 minutes after taking off while flying 84 miles east of Misawa in northeastern Japan, hitting the water at a speed of 683mph according to officials.

    The remains of the 41-year-old pilot have been recovered along with some debris from the F-35A, while Japan’s Air Self Defense Force (JASDF) say that it will resume flights of the costly jet after pilots receive additional training. 

    “It seems highly likely that the pilot was suffering from vertigo and was unaware of his condition,” said the JASDF in a press release, adding that it was unlikely that the crash was due to “technical problems with the aircraft.” 

    There was also no indication that the pilot – who had around 60 hours of training on the plane – attempted to eject.

    According to Japan’s Defense Minister Takeshi Iwaya, spacial awareness could “affect any pilot regardless of their experience,” adding that vertigo training for pilots would be increased. 

     

    via ZeroHedge News http://bit.ly/2Zjytws Tyler Durden