Connect with us

Government

5 ways Biden can help rural America thrive and bridge the rural-urban divide

A new federal antipoverty program for both rural and urban areas is part of the solution, but the power of Big Ag, lack of internet and struggling towns need attention, too.

Published

on

President Joe Biden talked about healing the rifts and uniting America in his inaugural address on Jan. 20, 2021. Michael S. Williamson/Washington Post

It’s no secret that rural and urban people have grown apart culturally and economically in recent years. A quick glance at the media – especially social media – confirms an ideological gap has also widened.

City folks have long been detached from rural conditions. Even in the 1700s, urbanites labeled rural people as backward or different. And lately, urban views of rural people have deteriorated.

All three of us are law professors who study and advocate intervention to assist distressed rural communities. The response we often hear is, “You expect me to care about those far-off places, especially given the way the people there vote?”

Our answer is “yes.”

Rural communities provide much of the food and energy that fuel our lives. They are made up of people who, after decades of exploitative resource extraction and neglect, need strong connective infrastructure and opportunities to pursue regional prosperity. A lack of investment in broadband, schools, jobs, sustainable farms, hospitals, roads and even the U.S. Postal Service has increasingly driven rural voters to seek change from national politics. And this sharp hunger for change gave Trump’s promises to disrupt the status quo particular appeal in rural areas.

Metropolitan stakeholders often complain that the Electoral College and U.S. Senate give less populous states disproportionate power nationally. Yet that power has not steered enough resources, infrastructure investment and jobs to rural America for communities to survive and thrive.

So, how can the federal government help?

Based on our years of research into rural issues, here are five federal initiatives that would go a long way toward empowering distressed rural communities to improve their destinies, while also helping bridge the urban/rural divide.

1. Get high-speed internet to the rest of rural America

The COVID-19 era has made more acute something rural communities were already familiar with: High-speed internet is the gateway to everything. Education, work, health care, information access and even a social life depend directly on broadband.

Yet 22.3% of rural residents and 27.7% of tribal lands residents lacked access to high-speed internet as of 2018, compared with 1.5% of urban residents.

The Trump administration undermined progress on the digital divide in 2018 by reversing an Obama-era rule that categorized broadband as a public utility, like electricity. When broadband was regulated as a utility, the government could ensure fairer access even in regions that were less profitable for service providers. The reversal left rural communities more vulnerable to the whims of competitive markets.

Although President Joe Biden has signaled support for rural broadband expansion, it’s not yet clear what the Federal Communications Commission might do under his leadership. Recategorizing broadband as a public utility could help close the digital divide.

2. Help local governments avoid going broke

It’s easy to take for granted the everyday things local governments do, like trash pickup, building code enforcement and overseeing public health. So, what happens when a local government goes broke?

A lot of rural local governments are dealing with an invisible crisis of fiscal collapse. Regions that have lost traditional livelihoods in manufacturing, mining, timber and agriculture are stuck in a downward cycle: Jobs loss and population decline mean less tax revenue to keep local government running.

A street in Schuylkill Haven.
Schuylkill County, Pennsylvania, was once known for coal mining, an industry that has declined as the economy has changed. Andrew Lichtenstein/Corbis via Getty Images

Federal institutions could help by expanding capacity-building programs, like Community Development Block Grants and Rural Economic Development Loans and Grants that let communities invest in long-term assets like main street improvements and housing.

Rural activists are also calling for a federal office of rural prosperity or economic transitions that could provide leadership on the widespread need to reverse declining rural communities’ fates.

3. Rein in big agriculture

Only 6% of rural people still live in counties with economies that are farming dependent.

Decades of policies favoring consolidation of agriculture have emptied out large swaths of rural landscapes. The top 8% of farms in America now own more than 70% of American farmland, and the rural people who remain increasingly bear the brunt of decisions made in urban agribusiness boardrooms.

Rural communities get less and less of the wealth. Those in counties with industrialized agricultural are more likely to have unsafe drinking water, lower incomes and greater economic inequality.

What many rural people want from agricultural policy is increased antitrust enforcement to break up agricultural monopolies, improved conditions for agricultural workers, conservation policies that actually protect rural health, and a food policy that addresses rural hunger, which outpaces food insecurity in urban areas.

Fields all the way to the horizon.
More than 70% of U.S. farmland belongs to the largest 8% of farm owners today. VW Pics/Universal Images Group via Getty Images

Access to affordable land is another huge issue. Beginning farmers cite that as their biggest obstacle. Federal support for these new farmers, like that imagined in the proposed Justice for Black Farmers Act or in other property-law reforms, could help rebuild an agriculture system that is diversified, sustainable and rooted in close connections to rural communities.

Biden’s plan to bring former Secretary of Agriculture Tom Vilsack back in the same role he held in the Obama administration has cast doubt on whether Biden is really committed to change. Vilsack built a suspect record on racial equity and has spent the past four years as a marketing executive for big dairy, leading many to worry his leadership will result in “agribusiness as usual.”

4. Pursue broad racial justice in rural America

One in five rural residents are people of color, and they are two to three times more likely to be poor than rural whites. Diverse rural residents are also significantly more likely to live in impoverished areas that have been described as “rural ghettos.”

More than 98% of U.S. agricultural land is owned by white people, while over 83% of farmworkers are Hispanic.

Criminal justice and law enforcement reforms occurring in cities are less likely to reach small or remote communities, leaving rural minorities vulnerable to discrimination and vigilantism, with limited avenues for redress.

Farmworkers in a field in California.
Over 83% of U.S. farmworkers are Hispanic. Brent Stirton/Getty Images

At a minimum, the federal government can enhance workplace protections for farm laborers, strengthen protections of ancestral lands and tribal sovereignty and provide leadership for improving rural access to justice.

5. Focus on the basics

People who live in distressed rural communities have important place-based connections. In many cases, the idea of “just move someplace elseis a myth.

The greatest historic progress on rural poverty followed large-scale federal intervention via Franklin Roosevelt’s New Deal and Lyndon Johnson’s War on Poverty. Although these reforms were implemented in ways that were racially unjust, they offer models for ameliorating rural poverty.

They created public jobs programs that addressed important social needs like conservation and school building repair; established relationships between universities and communities for agricultural and economic progress; provided federal funding for K-12 schools and made higher education more affordable; and expanded the social safety net to address hunger and other health needs.

A new federal antipoverty program – which urban communities also need – could go a long way to improving rural quality of life. The 2009 American Recovery and Reinvestment Act targeted many of these issues. But urban communities’ quicker and stronger recovery from the Great Recession than rural ones shows that this program neglected key rural challenges.

Some of these steps will also require Congress’s involvement. So the question is, will federal leadership take the bold steps necessary to address rural marginalization and start mending these divisions? Or will it pay lip service to those steps while continuing the patterns of neglect and exploitation that have gotten the U.S. to where it is today: facing an untenable stalemate shaped by inequality and mutual distrust.

The authors do not work for, consult, own shares in or receive funding from any company or organization that would benefit from this article, and have disclosed no relevant affiliations beyond their academic appointment.

Read More

Continue Reading

Government

Student Loan Forgiveness Is Robbing Peter To Pay Paul

Student Loan Forgiveness Is Robbing Peter To Pay Paul

Via SchiffGold.com,

With President Biden’s Saving on a Valuable Education (SAVE)…

Published

on

Student Loan Forgiveness Is Robbing Peter To Pay Paul

Via SchiffGold.com,

With President Biden’s Saving on a Valuable Education (SAVE) plan set to extend more student loan relief to borrowers this summer, the federal government is pretending it can wave a magic wand to make debts disappear. But the truth of student debt “relief” is that they’re simply shifting the burden to everyone else, robbing Peter to pay Paul and funneling more steam into an inflation pressure cooker that’s already set to burst.

Starting July 1st, new rules go into effect that change the discretionary income requirements for their payment plans from 10% to only 5% for undergraduates, leading to lower payments for millions. Some borrowers will even have their owed balances revert to zero.

What the plan doesn’t describe, predictably, is how that burden will be shifted to the rest of the country by stealing value out of their pockets via new taxes or increased inflation, which still simmering well above levels seen in early 2020 before the Fed printed trillions in Covid “stimulus” money. They’re rewarding students who took out loans they can’t afford and punishing those who paid their way or repaid their loans, attending school while living within their means. And they’re stealing from the entire country to finance it.

Biden actually claims that a continuing Covid “emergency” is what gives him the authority to offer student loan forgiveness to begin with. As with any “temporary” measure that gives state power a pretense to grow, or gives them an excuse to collect more revenue (I’m looking at you, federal income tax), COVID-19 continues to be the gift that keeps on giving for power and revenue-hungry politicians even as the CDC reclassifies the virus as a threat similar to the seasonal flu.

The SAVE plan takes the burden of billions of dollars in owed payments away from students and adds it to a national debt that’s already ballooning to the tune of a mind-boggling trillion dollars every 3 months. If all student loan debt were forgiven, according to the Brookings Institution, it would surpass the cumulative totals for the past 20 years for multiple existing tax credits and welfare programs:

“Forgiving all student debt would be a transfer larger than the amounts the nation has spent over the past 20 years on unemployment insurance, larger than the amount it has spent on the Earned Income Tax Credit, and larger than the amount it has spent on food stamps.”

Ironically enough, adding hundreds of billions to the national debt from Biden’s program is likely to cause the most pain to the very demographics the Biden administration claims to be helping with its plan: poor people, anyone who skipped college entirely or paid their loans back, and other already overly-indebted young adults, whose purchasing power is being rapidly eroded by out-of-control government spending and central bank monetary shenanigans. It effectively transfers even more wealth from the poor to the wealthy, a trend that Covid-era measures have taken to new extremes.

As Ron Paul pointed out in a recent op-ed for the Eurasia Review:

“…these loans will be paid off in part by taxpayers who did not go to college, paid their own way through school, or have already paid off their student loans. Since those with college degrees tend to earn more over time than those without them, this program redistributes wealth from lower to higher income Americans.”

Even some progressives are taking aim at the plan, not because it shifts the debt burden to other Americans, but because it will require cutting welfare or sacrificing other expensive social programs promised by Biden such as universal pre-K. For these critics, the issue isn’t so much that spending and debt are totally out of control, but that they’re being funneled into the wrong issues.

Progressive “solutions” always seem to take the form of slogans like “tax the wealthy,” a feel-good bromide that for lawmakers always seems to translate into increased taxes for the middle and lower-upper class. Meanwhile, the .01% continue to avoid taxes through offshore accounts, money laundering trickery dressed up as philanthropy, and general de facto ownership of the system through channels like political donations and aggressive lobbying.

If new waves of college applicants expect loan forgiveness plans to continue, it also encourages schools to continue raising tuition and motivates prospective students to continue with even more irresponsible borrowing.

This puts pressure on the Fed to keep interest rates lower to help accommodate waves of new student loan applicants from sparkly-eyed young borrowers who figure they’ll never really have to pay the money back.

With the Fed already expected to cut rates this year despite inflation not being properly under control, the loan forgiveness scheme is just one of many factors conspiring to cause inflation to start running hotter again, spiraling out of control, as the entire country is forced to pay the hidden tax of price increases for all their basic needs.

Tyler Durden Wed, 03/13/2024 - 06:30

Read More

Continue Reading

International

Analyst reviews Apple stock price target amid challenges

Here’s what could happen to Apple shares next.

Published

on

They said it was bound to happen.

It was Jan. 11, 2024 when software giant Microsoft  (MSFT)  briefly passed Apple  (AAPL)  as the most valuable company in the world.

Microsoft's stock closed 0.5% higher, giving it a market valuation of $2.859 trillion. 

It rose as much as 2% during the session and the company was briefly worth $2.903 trillion. Apple closed 0.3% lower, giving the company a market capitalization of $2.886 trillion. 

"It was inevitable that Microsoft would overtake Apple since Microsoft is growing faster and has more to benefit from the generative AI revolution," D.A. Davidson analyst Gil Luria said at the time, according to Reuters.

The two tech titans have jostled for top spot over the years and Microsoft was ahead at last check, with a market cap of $3.085 trillion, compared with Apple's value of $2.684 trillion.

Analysts noted that Apple had been dealing with weakening demand, including for the iPhone, the company’s main source of revenue. 

Demand in China, a major market, has slumped as the country's economy makes a slow recovery from the pandemic and competition from Huawei.

Sales in China of Apple's iPhone fell by 24% in the first six weeks of 2024 compared with a year earlier, according to research firm Counterpoint, as the company contended with stiff competition from a resurgent Huawei "while getting squeezed in the middle on aggressive pricing from the likes of OPPO, vivo and Xiaomi," said senior Analyst Mengmeng Zhang.

“Although the iPhone 15 is a great device, it has no significant upgrades from the previous version, so consumers feel fine holding on to the older-generation iPhones for now," he said.

A man scrolling through Netflix on an Apple iPad Pro. Photo by Phil Barker/Future Publishing via Getty Images.

Future Publishing/Getty Images

Big plans for China

Counterpoint said that the first six weeks of 2023 saw abnormally high numbers with significant unit sales being deferred from December 2022 due to production issues.

Apple is planning to open its eighth store in Shanghai – and its 47th across China – on March 21.

Related: Tech News Now: OpenAI says Musk contract 'never existed', Xiaomi's EV, and more

The company also plans to expand its research centre in Shanghai to support all of its product lines and open a new lab in southern tech hub Shenzhen later this year, according to the South China Morning Post.

Meanwhile, over in Europe, Apple announced changes to comply with the European Union's Digital Markets Act (DMA), which went into effect last week, Reuters reported on March 12.

Beginning this spring, software developers operating in Europe will be able to distribute apps to EU customers directly from their own websites instead of through the App Store.

"To reflect the DMA’s changes, users in the EU can install apps from alternative app marketplaces in iOS 17.4 and later," Apple said on its website, referring to the software platform that runs iPhones and iPads. 

"Users will be able to download an alternative marketplace app from the marketplace developer’s website," the company said.

Apple has also said it will appeal a $2 billion EU antitrust fine for thwarting competition from Spotify  (SPOT)  and other music streaming rivals via restrictions on the App Store.

The company's shares have suffered amid all this upheaval, but some analysts still see good things in Apple's future.

Bank of America Securities confirmed its positive stance on Apple, maintaining a buy rating with a steady price target of $225, according to Investing.com

The firm's analysis highlighted Apple's pricing strategy evolution since the introduction of the first iPhone in 2007, with initial prices set at $499 for the 4GB model and $599 for the 8GB model.

BofA said that Apple has consistently launched new iPhone models, including the Pro/Pro Max versions, to target the premium market. 

Analyst says Apple selloff 'overdone'

Concurrently, prices for previous models are typically reduced by about $100 with each new release. 

This strategy, coupled with installment plans from Apple and carriers, has contributed to the iPhone's installed base reaching a record 1.2 billion in 2023, the firm said.

More Tech Stocks:

Apple has effectively shifted its sales mix toward higher-value units despite experiencing slower unit sales, BofA said.

This trend is expected to persist and could help mitigate potential unit sales weaknesses, particularly in China. 

BofA also noted Apple's dominance in the high-end market, maintaining a market share of over 90% in the $1,000 and above price band for the past three years.

The firm also cited the anticipation of a multi-year iPhone cycle propelled by next-generation AI technology, robust services growth, and the potential for margin expansion.

On Monday, Evercore ISI analysts said they believed that the sell-off in the iPhone maker’s shares may be “overdone.”

The firm said that investors' growing preference for AI-focused stocks like Nvidia  (NVDA)  has led to a reallocation of funds away from Apple. 

In addition, Evercore said concerns over weakening demand in China, where Apple may be losing market share in the smartphone segment, have affected investor sentiment.

And then ongoing regulatory issues continue to have an impact on investor confidence in the world's second-biggest company.

“We think the sell-off is rather overdone, while we suspect there is strong valuation support at current levels to down 10%, there are three distinct drivers that could unlock upside on the stock from here – a) Cap allocation, b) AI inferencing, and c) Risk-off/defensive shift," the firm said in a research note.

Related: Veteran fund manager picks favorite stocks for 2024

Read More

Continue Reading

International

Major typhoid fever surveillance study in sub-Saharan Africa indicates need for the introduction of typhoid conjugate vaccines in endemic countries

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high…

Published

on

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

Credit: IVI

There is a high burden of typhoid fever in sub-Saharan African countries, according to a new study published today in The Lancet Global Health. This high burden combined with the threat of typhoid strains resistant to antibiotic treatment calls for stronger prevention strategies, including the use and implementation of typhoid conjugate vaccines (TCVs) in endemic settings along with improvements in access to safe water, sanitation, and hygiene.

 

The findings from this 4-year study, the Severe Typhoid in Africa (SETA) program, offers new typhoid fever burden estimates from six countries: Burkina Faso, Democratic Republic of the Congo (DRC), Ethiopia, Ghana, Madagascar, and Nigeria, with four countries recording more than 100 cases for every 100,000 person-years of observation, which is considered a high burden. The highest incidence of typhoid was found in DRC with 315 cases per 100,000 people while children between 2-14 years of age were shown to be at highest risk across all 25 study sites.

 

There are an estimated 12.5 to 16.3 million cases of typhoid every year with 140,000 deaths. However, with generic symptoms such as fever, fatigue, and abdominal pain, and the need for blood culture sampling to make a definitive diagnosis, it is difficult for governments to capture the true burden of typhoid in their countries.

 

“Our goal through SETA was to address these gaps in typhoid disease burden data,” said lead author Dr. Florian Marks, Deputy Director General of the International Vaccine Institute (IVI). “Our estimates indicate that introduction of TCV in endemic settings would go to lengths in protecting communities, especially school-aged children, against this potentially deadly—but preventable—disease.”

 

In addition to disease incidence, this study also showed that the emergence of antimicrobial resistance (AMR) in Salmonella Typhi, the bacteria that causes typhoid fever, has led to more reliance beyond the traditional first line of antibiotic treatment. If left untreated, severe cases of the disease can lead to intestinal perforation and even death. This suggests that prevention through vaccination may play a critical role in not only protecting against typhoid fever but reducing the spread of drug-resistant strains of the bacteria.

 

There are two TCVs prequalified by the World Health Organization (WHO) and available through Gavi, the Vaccine Alliance. In February 2024, IVI and SK bioscience announced that a third TCV, SKYTyphoid™, also achieved WHO PQ, paving the way for public procurement and increasing the global supply.

 

Alongside the SETA disease burden study, IVI has been working with colleagues in three African countries to show the real-world impact of TCV vaccination. These studies include a cluster-randomized trial in Agogo, Ghana and two effectiveness studies following mass vaccination in Kisantu, DRC and Imerintsiatosika, Madagascar.

 

Dr. Birkneh Tilahun Tadesse, Associate Director General at IVI and Head of the Real-World Evidence Department, explains, “Through these vaccine effectiveness studies, we aim to show the full public health value of TCV in settings that are directly impacted by a high burden of typhoid fever.” He adds, “Our final objective of course is to eliminate typhoid or to at least reduce the burden to low incidence levels, and that’s what we are attempting in Fiji with an island-wide vaccination campaign.”

 

As more countries in typhoid endemic countries, namely in sub-Saharan Africa and South Asia, consider TCV in national immunization programs, these data will help inform evidence-based policy decisions around typhoid prevention and control.

 

###

 

About the International Vaccine Institute (IVI)
The International Vaccine Institute (IVI) is a non-profit international organization established in 1997 at the initiative of the United Nations Development Programme with a mission to discover, develop, and deliver safe, effective, and affordable vaccines for global health.

IVI’s current portfolio includes vaccines at all stages of pre-clinical and clinical development for infectious diseases that disproportionately affect low- and middle-income countries, such as cholera, typhoid, chikungunya, shigella, salmonella, schistosomiasis, hepatitis E, HPV, COVID-19, and more. IVI developed the world’s first low-cost oral cholera vaccine, pre-qualified by the World Health Organization (WHO) and developed a new-generation typhoid conjugate vaccine that is recently pre-qualified by WHO.

IVI is headquartered in Seoul, Republic of Korea with a Europe Regional Office in Sweden, a Country Office in Austria, and Collaborating Centers in Ghana, Ethiopia, and Madagascar. 39 countries and the WHO are members of IVI, and the governments of the Republic of Korea, Sweden, India, Finland, and Thailand provide state funding. For more information, please visit https://www.ivi.int.

 

CONTACT

Aerie Em, Global Communications & Advocacy Manager
+82 2 881 1386 | aerie.em@ivi.int


Read More

Continue Reading

Trending