Talking Points, June 8,2020

June 8, 2020

Social Security’s COLA is linked to the consumer price index (CPI). There’s a subset of CPI, known as CPI-E, which tracks elderly spending. Those expenses have grown more rapidly year-over-year, but COLA adjustments don’t reflect those growing expenses, so Social Security benefits have actually lost 30% of its buying power since 2000. MarketWatch, May 30, 2020

Since 2000, China’s economy has roughly quadrupled in size, but its debt has increased by a factor of twenty-four. Zeihan.com, May 15, 2020

“No man can think clearly when his fists are clenched.” George Jean Nathan

In March, there were nearly 116 million car loans that totaled $1.3 trillion, an average of $11,476 each. There are now more car loans than mortgages. Brookings, May 11, 2020

There are roughly 91,000 dams in the United States and in 2025, 70% of those dams will be more than 50 years old, and currently, 8,000 are over 90 years old. National Geographic, May 27, 2020

US billionaires have become $565 billion richer since March 18. Total wealth for billionaires now stands at $3.5 trillion, up 19% from the low point near the beginning of the pandemic. Jeff Bezos alone is worth $36.2 billion more than he was on March 18. CNN, June 5, 2020

“Freedom is never more than one generation away from extinction.” Ronald Reagan

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