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Has The US Lost Its First-World Status?

Has The US Lost Its First-World Status?

Authored by Daniel Nuccio via The Brownstone Institute,

Everything is dirty. Nothing works. But everything’s…

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Has The US Lost Its First-World Status?

Authored by Daniel Nuccio via The Brownstone Institute,

Everything is dirty. Nothing works. But everything’s also more expensive. And oh, by the way, you don’t have privacy anymore...

That is how I described life in the US to a friend who had been living abroad for a bit more than a decade when we met up earlier this year during his brief return to the states. 

We’re not a first world country anymore, I told him. Hopefully our decline stops somewhere around second world, I half-joked. That’s probably the best we can hope for.

Earlier that evening over dinner at what was once our regular spot, he told me of his life as a physician in Poland. I told him about my PhD work on the health effects of social isolation. He told me about the influx of young American soldiers into his current country of residence.

I described to him the dismal state of education back here at home. The lack of standards. The fetishization of boutique ideologies. The compulsory commitments to further favored political causes. 

Now, after a mediocre movie intended for teenagers (or perhaps adults longing to be teenagers again) we meandered in the vacant parking lot of the Barnes & Noble we frequented when he’d return home from college, as well as in the years immediately following our undergraduate work when we were living at home, navigating our first few grownup jobs. 

Standing under the sterile glow of aesthetically jarring LED lights, subtle symbols of our country’s progress, I told him about the drive through my hometown earlier that afternoon. The place where I’d grown up. The town where we both had attended high school.

For much of my life, it had seemed like a stereotypical suburb of the 90s, sort of akin to what you’d see in early episodes of The Simpsons. We were by no means Mayberry, but we were a largely clean, peaceful place populated by middle-class people going about their lives the best they could. 

With time, yes, a plethora of mostly little changes occurred and accrued as they do everywhere. The video rental stores and comic book shops had closed long ago. The movie theater at which I watched Independence Day, Men In Black, and so many of the other major blockbusters of my childhood with my dad became a 24-hour gym. 

The Toys R Us my parents or uncles would take me to for new video games and Nerf guns on random or special occasions was now an Indian grocery store. But for the most part, we retained many of the accoutrements of 90s suburbia well into the 2000s.

Yet, on the drive through that day, more stores just seemed abandoned. Everything appeared to have acquired a thin layer of grime I couldn’t recall being there in the Before Times or even on more recent trips home to visit family. There were also far more beggars than I had ever recalled seeing there at any time in the past. 

At the risk of sounding pretentious, beggars and homeless people had always been a rare sight where I grew up. As a child, I thought of them as a largely exclusive feature of the city, seeing them only when my father would take our family Downtown for some excursion to a baseball game or the like, reprimanding my siblings and me if he ever caught us making some discourteous remark at their expense, echoing the admonitions of the teachers and priests at my parochial elementary school that homelessness could strike anyone at any time like some unfortunate disease. I also remember never quite believing them. 

Something about the homeless populations I encountered on those rare occasions as a child always seemed indescribably but notably different. Sure, some of them could have been auto workers who lost good union jobs when their plant closed. Yeah, some may have been investment bankers who had fallen on hard times. But even then I could tell many of them seemed to be struggling with mental illness or addiction even if I failed to fully comprehend those concepts at the time. 

Now though, in my hometown, that seemed to hold less true.

The lost souls stationed at practically every major intersection along the main road appeared in many cases exceptionally ordinary – and perhaps were until only a few years or even a couple of months earlier when…what? The bar they worked at was deemed unessential by government bureaucrats? 

The restaurant they owned was forced to close because everyone was either too frightened by propaganda to eat out or didn’t wish to deal with all the multifarious government-mandated performative acts of obedience required by those simply seeking to sit down for a meal in public? They lost their low-level job as a municipal employee because they refused to take a medicine they didn’t want and in many cases likely didn’t need? Then again, maybe some still had a job but were struggling to keep up with the sudden spike in food prices?

Although I wouldn’t say I was struggling, I told my friend, it’s hard not to notice that my bag of broccoli and cauliflower seems to have a little more air than a year ago and my hummus container appears to take up a little less space in my fridge, while both items inexplicably now cost a dollar more. If someone was living paycheck-to-paycheck, especially if they had a family, it was difficult to imagine how they could keep up.

My friend reminded me this wasn’t just the US.

The price of basic food items like eggs had gone up considerably in Poland, he informed me. Having traveled more than I have in our current period of Reset and Reconstruction, he also told me how he’s noticed that sex-segregated restrooms were being phased out in a lot of places, circling back to our earlier discussion of the fetishization of boutique ideologies, albeit no longer relegated to university soil. 

His saying this reminded me of how a colleague of mine reported something similar when traveling to New York earlier this year, describing the city as Gotham with gender-neutral bathrooms, zombified homeless people wandering the streets, and the constant smell of weed in the air.  

Before parting ways for what would likely be another who knows how long, we went for a drive under the watchful eyes of the automatic license plate readers that sprouted up on practically every street light sometime between the Pandemic Period and our current Reset and Reconstruction phase – more undeniable signs of our country’s progress. We talked about the future. My friend was working through whether he wanted to stay in Poland, move to Canada where his then-girlfriend resided, or return to the US. 

I told him I didn’t really know how things were in Poland, but at least the US wasn’t quite as explicitly totalitarian as Canada…yet. I also told him that I had come to acknowledge that pursuing a career as a professor and a scientific researcher long-term may no longer be an option for me given that I had spent the past two years publicly criticizing many of the political positions you’re required not only to profess but actively promote if you wish to teach at a university or do scientific research in the US.

Something else I thought about while we were driving around, or maybe sometime later as I left behind the area in which I had spent so many formative years was how so few people seem to notice so many of these changes – or casually accept them as normal if they do.

One particular example that sticks out to me now is something that occurred not long after my brief reunion with my expat friend. Once more I was driving down the main road in the town in which I grew up. Many stores still just seemed abandoned. Everything still appeared to possess a thin layer of grime. Beggars were still stationed at nearly every major intersection. 

This time I was returning to visit my mother for a small dinner. On the way home, I stopped at a Starbucks not far from the Indian grocery store that used to be the Toys R Us where I got my first Mario Kart game as a kid and my first Resident Evil game as a middle-schooler. 

Outside the Starbucks was an elderly woman, probably living on the streets, a little more reminiscent of my childhood notion of a homeless person than most of the seemingly newly-minted beggars at the intersections. 

While I waited for my order, I overheard the baristas talking with a couple of customers about her. Apparently, she was always there, always troubled by demons no one else could see. Sometimes she came in and made a mess in one of the bathrooms. Sometimes she harassed customers in a way that went beyond just asking for a couple bucks or some change. 

One of the customers with whom the baristas were speaking nodded along with the conversation, mentioning that she worked at a retirement home, authoritatively stating there was a full moon coming. From what she said, the old folks always get like this as the full moon approaches. The baristas nodded along in agreement.

Listening to this, I remember thinking we’re not a first world country anymore, but are we really a 1930s depiction of Nineteenth Century Romania? I knew we had accepted outrageous food prices and a steady population of beggars and homeless people in our suburbs as part of the New Normal, but I didn’t know we had accepted moon madness too.

Then again, maybe I was being overly pessimistic, overlooking obvious positives.

I mean, for all I know, the bathroom in which this old homeless woman suffering from moon madness regularly made a mess was gender-neutral, in which case, if that’s not a sign of progress, I don’t know what is. 

Tyler Durden Fri, 11/10/2023 - 16:20

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Angry Shouting Aside, Here’s What Biden Is Running On

Angry Shouting Aside, Here’s What Biden Is Running On

Last night, Joe Biden gave an extremely dark, threatening, angry State of the Union…

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Angry Shouting Aside, Here's What Biden Is Running On

Last night, Joe Biden gave an extremely dark, threatening, angry State of the Union address - in which he insisted that the American economy is doing better than ever, blamed inflation on 'corporate greed,' and warned that Donald Trump poses an existential threat to the republic.

But in between the angry rhetoric, he also laid out his 2024 election platform - for which additional details will be released on March 11, when the White House sends its proposed budget to Congress.

To that end, Goldman Sachs' Alec Phillips and Tim Krupa have summarized the key points:

Taxes

While railing against billionaires (nothing new there), Biden repeated the claim that anyone making under $400,000 per year won't see an increase in their taxes.  He also proposed a 21% corporate minimum tax, up from 15% on book income outlined in the Inflation Reduction Act (IRA), as well as raising the corporate tax rate from 21% to 28% (which would promptly be passed along to consumers in the form of more inflation). Goldman notes that "Congress is unlikely to consider any of these proposals this year, they would only come into play in a second Biden term, if Democrats also won House and Senate majorities."

Biden also called on Congress to restore the pandemic-era child tax credit.

Immigration

Instead of simply passing a slew of border security Executive Orders like the Trump ones he shredded on day one, Biden repeated the lie that Congress 'needs to act' before he can (translation: send money to Ukraine or the US border will continue to be a sieve).

As immigration comes into even greater focus heading into the election, we continue to expect the Administration to tighten policy (e.g., immigration has surged 20pp the last 7 months to first place with 28% in Gallup’s “most important problem” survey). As such, we estimate the foreign-born contribution to monthly labor force growth will moderate from 110k/month in 2023 to around 70-90k/month in 2024. -GS

Ukraine

Biden, with House Speaker Mike Johnson doing his best impression of a bobble-head, urged Congress to pass additional assistance for Ukraine based entirely on the premise that Russia 'won't stop' there (and would what, trigger article 5 and WW3 no matter what?), despite the fact that Putin explicitly told Tucker Carlson he has no further ambitions, and in fact seeks a settlement.

As Goldman estimates, "While there is still a clear chance that such a deal could come together, for now there is no clear path forward for Ukraine aid in Congress."

China

Biden, forgetting about all the aggressive tariffs, suggested that Trump had been soft on China, and that he will stand up "against China's unfair economic practices" and "for peace and stability across the Taiwan Strait."

Healthcare

Lastly, Biden proposed to expand drug price negotiations to 50 additional drugs each year (an increase from 20 outlined in the IRA), which Goldman said would likely require bipartisan support "even if Democrats controlled Congress and the White House," as such policies would likely be ineligible for the budget "reconciliation" process which has been used in previous years to pass the IRA and other major fiscal party when Congressional margins are just too thin.

So there you have it. With no actual accomplishments to speak of, Biden can only attack Trump, lie, and make empty promises.

Tyler Durden Fri, 03/08/2024 - 18:00

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United Airlines adds new flights to faraway destinations

The airline said that it has been working hard to "find hidden gem destinations."

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Since countries started opening up after the pandemic in 2021 and 2022, airlines have been seeing demand soar not just for major global cities and popular routes but also for farther-away destinations.

Numerous reports, including a recent TripAdvisor survey of trending destinations, showed that there has been a rise in U.S. traveler interest in Asian countries such as Japan, South Korea and Vietnam as well as growing tourism traction in off-the-beaten-path European countries such as Slovenia, Estonia and Montenegro.

Related: 'No more flying for you': Travel agency sounds alarm over risk of 'carbon passports'

As a result, airlines have been looking at their networks to include more faraway destinations as well as smaller cities that are growing increasingly popular with tourists and may not be served by their competitors.

The Philippines has been popular among tourists in recent years.

Shutterstock

United brings back more routes, says it is committed to 'finding hidden gems'

This week, United Airlines  (UAL)  announced that it will be launching a new route from Newark Liberty International Airport (EWR) to Morocco's Marrakesh. While it is only the country's fourth-largest city, Marrakesh is a particularly popular place for tourists to seek out the sights and experiences that many associate with the country — colorful souks, gardens with ornate architecture and mosques from the Moorish period.

More Travel:

"We have consistently been ahead of the curve in finding hidden gem destinations for our customers to explore and remain committed to providing the most unique slate of travel options for their adventures abroad," United's SVP of Global Network Planning Patrick Quayle, said in a press statement.

The new route will launch on Oct. 24 and take place three times a week on a Boeing 767-300ER  (BA)  plane that is equipped with 46 Polaris business class and 22 Premium Plus seats. The plane choice was a way to reach a luxury customer customer looking to start their holiday in Marrakesh in the plane.

Along with the new Morocco route, United is also launching a flight between Houston (IAH) and Colombia's Medellín on Oct. 27 as well as a route between Tokyo and Cebu in the Philippines on July 31 — the latter is known as a "fifth freedom" flight in which the airline flies to the larger hub from the mainland U.S. and then goes on to smaller Asian city popular with tourists after some travelers get off (and others get on) in Tokyo.

United's network expansion includes new 'fifth freedom' flight

In the fall of 2023, United became the first U.S. airline to fly to the Philippines with a new Manila-San Francisco flight. It has expanded its service to Asia from different U.S. cities earlier last year. Cebu has been on its radar amid growing tourist interest in the region known for marine parks, rainforests and Spanish-style architecture.

With the summer coming up, United also announced that it plans to run its current flights to Hong Kong, Seoul, and Portugal's Porto more frequently at different points of the week and reach four weekly flights between Los Angeles and Shanghai by August 29.

"This is your normal, exciting network planning team back in action," Quayle told travel website The Points Guy of the airline's plans for the new routes.

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Walmart launches clever answer to Target’s new membership program

The retail superstore is adding a new feature to its Walmart+ plan — and customers will be happy.

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It's just been a few days since Target  (TGT)  launched its new Target Circle 360 paid membership plan. 

The plan offers free and fast shipping on many products to customers, initially for $49 a year and then $99 after the initial promotional signup period. It promises to be a success, since many Target customers are loyal to the brand and will go out of their way to shop at one instead of at its two larger peers, Walmart and Amazon.

Related: Walmart makes a major price cut that will delight customers

And stop us if this sounds familiar: Target will rely on its more than 2,000 stores to act as fulfillment hubs. 

This model is a proven winner; Walmart also uses its more than 4,600 stores as fulfillment and shipping locations to get orders to customers as soon as possible.

Sometimes, this means shipping goods from the nearest warehouse. But if a desired product is in-store and closer to a customer, it reduces miles on the road and delivery time. It's a kind of logistical magic that makes any efficiency lover's (or retail nerd's) heart go pitter patter. 

Walmart rolls out answer to Target's new membership tier

Walmart has certainly had more time than Target to develop and work out the kinks in Walmart+. It first launched the paid membership in 2020 during the height of the pandemic, when many shoppers sheltered at home but still required many staples they might ordinarily pick up at a Walmart, like cleaning supplies, personal-care products, pantry goods and, of course, toilet paper. 

It also undercut Amazon  (AMZN)  Prime, which costs customers $139 a year for free and fast shipping (plus several other benefits including access to its streaming service, Amazon Prime Video). 

Walmart+ costs $98 a year, which also gets you free and speedy delivery, plus access to a Paramount+ streaming subscription, fuel savings, and more. 

An employee at a Merida, Mexico, Walmart. (Photo by Jeffrey Greenberg/Universal Images Group via Getty Images)

Jeff Greenberg/Getty Images

If that's not enough to tempt you, however, Walmart+ just added a new benefit to its membership program, ostensibly to compete directly with something Target now has: ultrafast delivery. 

Target Circle 360 particularly attracts customers with free same-day delivery for select orders over $35 and as little as one-hour delivery on select items. Target executes this through its Shipt subsidiary.

We've seen this lightning-fast delivery speed only in snippets from Amazon, the king of delivery efficiency. Who better to take on Target, though, than Walmart, which is using a similar store-as-fulfillment-center model? 

"Walmart is stepping up to save our customers even more time with our latest delivery offering: Express On-Demand Early Morning Delivery," Walmart said in a statement, just a day after Target Circle 360 launched. "Starting at 6 a.m., earlier than ever before, customers can enjoy the convenience of On-Demand delivery."

Walmart  (WMT)  clearly sees consumers' desire for near-instant delivery, which obviously saves time and trips to the store. Rather than waiting a day for your order to show up, it might be on your doorstep when you wake up. 

Consumers also tend to spend more money when they shop online, and they remain stickier as paying annual members. So, to a growing number of retail giants, almost instant gratification like this seems like something worth striving for.

Related: Veteran fund manager picks favorite stocks for 2024

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