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The economy - oops
https://www.washingtonpost.com/nation/20...ery-store/

I've seen similar reportage lke this before. Maybe similar stuff has been through this thread before.
Tangential themes also came up in places like the Bundyville podcast. When you look at what a lot of small-towners, rural, anti federal government types want or are happy to do when it comes to self regulation, organisation and economics its... communist. In technical, classic terms they advocate for communism, agrarian socialism, even anarcho syndicalism. But because of the historical and cultural context you can't call it that.
Well, call it what you like I say.
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The fraction of all U.S. wealth owned by Boomers & Gen-Xers when the average member of each was age 35:

Boomers, 1989 - 21% 
GenX, 2008 - 8%

The average Millennial turns 35 in 2023. Right now they own 3%.

https://www.federalreserve.gov/releases/...series:Net worth;demographic:generation;population:all;unitsConfusedhares
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A new report finds that Indiana officials "quietly absolved Amazon of responsibility" for a warehouse worker's death in order to aid the state's bid for HQ2. "They deleted every fine levied and accepted the company’s argument—that the worker was to blame."

https://www.indystar.com/story/news/inve...282653002/

Quote:When an Amazon worker was killed by a forklift in a Plainfield warehouse in 2017, the state of Indiana’s investigator found the company was at fault. The state cited Amazon for four major safety violations and fined it $28,000.

But an investigation by Reveal from The Center for Investigative Reporting has found that, as Gov. Eric Holcomb sought to lure Amazon’s HQ2 to Indiana, state labor officials quietly absolved Amazon of responsibility. After Amazon appealed, they deleted every fine that had been levied and accepted the company’s argument — that the Amazon worker was to blame.

The investigator on the case, John Stallone, had arrived at the warehouse a day after 59-year-old Phillip Lee Terry was crushed to death. He was so troubled by the pushback he was getting from higher-ups that he secretly recorded his boss, Indiana OSHA Director Julie Alexander, as she counseled the company on how to lessen the fine.

“It’s like being at a card table and having a dealer teach you how to count cards,” Stallone said.

He said pressure to back off came from as high up as the governor’s mansion.

The governor’s office and Indiana labor officials declined interviews. In statements, they both called Stallone’s account false.
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Well, this is alarming:

https://www.bloomberg.com/news/articles/...nt=markets

Quote:Two Chinese companies failed to repay bonds worth a combined half a billion dollars on Monday, underscoring rising debt risks in the highly leveraged nation as the economy slows.

Peking University Founder Group was unable to secure sufficient funding to repay a 270-day, 2 billion yuan ($285 million) bond, according to a company filing to the National Interbank Funding Center. Tunghsu Optoelectronic Technology Co. failed to deliver repayment on both interest and principal on a 1.7 billion yuan bond, according to Shanghai Clearing House.

The quickening speed of bond defaults in China, especially among ailing private firms, highlights the growing financial strain triggered by the country’s worst economic slowdown in three decades and unabated trade tensions with the U.S. Last week, industrial firm Xiwang Group failed to pay a 1 billion yuan bond, missing a fresh repayment deadline on an already defaulted bond.

“It’s getting harder for companies to get funding help when facing a debt crisis, unless they’re centrally-controlled companies and local SOEs that have great importance to the local economy,” said Yang Hao, fixed income analyst from Nanjing Securities Co. 

Founder’s missed payment on the bond, which has a 15 business-day grace period, is set to escalate concerns about the weak finances of debt-laden business arms of Chinese universities. The company and Tsinghua Unigroup Co., a top chipmaker run by arch-rival Tsinghua University, have been under the spotlight in recent months following a tumble in their dollar bonds.
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https://mobile.twitter.com/MattBinder/st...6677171207

   
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