Talking Points: August 26, 2019

 August 26, 2019

On average, consumers buy 60% more clothing today than they did 15 years ago but keep the items half as long. Nearly 60% of the more than 100 billion garments produced annually end up in incinerators or landfills. The Wall Street Journal, August 17, 2019

“Fashion is a form of ugliness so intolerable that we have to alter it every six months.” Oscar Wilde

At the end of the second quarter of 2019, U.S. mortgage debt totaled a record $9.41 trillion, exceeding the third quarter of 2008. Market Watch, August 13, 2019

The unemployment rate for young Americans between ages 16 and 24 ticked down to 9.1% in July of 2019, the lowest rate since July 1966, when youth unemployment rate was 8.8%. The Wall Street Journal, August 17, 2019

The typical America eats the equivalent of about 50 chickens or half a cow every year. The Week, August 23, 2019

In 1803 President Thomas Jefferson made the Louisiana Purchase, buying 827,000 square miles that now cover 13 states for $15 million, or more than $340 million in today’s dollars. In 1867, America bought Alaska from Russia for $7.2 million ($124.8 million in today’s dollars) and in 1946, the U.S. offered $100 million for Greenland, which is worth an estimated $1.3 billion in today’s dollars. MarketWatch, August 19, 2019

“A man who has never gone to school may steal from a freight car; but if he has a university education, he may steal the whole railroad.” Theodore Roosevelt

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