Saturday, December 7, 2019
This only a old reproduction.
The economic crisis is going to be the worst in a century.
I have to make few comments about Ceylon.
We do not have people starving (relatively in the South) or eating from bins.Our food is cheap and there are plenty of alternatives and variations.
Our immunization program is good enough but not up to the International Standards.
Often the imported items are substandard.
Dengue is a ploy used by doctors both in private and government practice to hoodwink the poor patients’ relatives to abscond liability in courts of law.
No proper diagnosis in most cases and no postmortems!
Clothing industry is robust and cloths are cheap.
Public and private transport is in dilapidated state.
I have a saying that if we “Abolish The Post of Presidency” (real white elephant) for 10 years, we can improve the transport system including introducing few domestic air lines, for people in the North, instead of giving India our air space to drop Mysoor dhal (Parippu) in crisis.
Never trust Indian Politicians.
They bring AIDS (kidney donors, etc), Malaria and exotic diseases from their own hospitals.
I love Indian cricketers including Kholi, so do not take it as an Indian slur.
Our monks are fabulously rich and now devote more time on politics than the spread of Dhamma.
They, more or less spread hate on minorities and Islam (phobia)!
Learning second language especially English is poorer than Bangladesh, if not India.
Television / Media are owned by partisan individuals.
There is no balanced reporting.
Political parties have NO democratic ways and are almost owned by individuals.
They are hegemonic.
Latest is religious hegemony.
Election commissioner has failed to admonish religious and astrological hegemony in spite of blatant violation of the election law.
He only talks.
NATO.
No
Action
Talk
Only SHOW.
We applaud him for his failures.
This is a very good article.
We in Ceylon manipulate these figures to hoodwink the WHO and UNO.
Average Income in the USA by Family and Household
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Income per person is the income for each person at age 15 or older. It's more commonly known as income per capita.
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Family income is average for a family of two or more related people living in a household. They can be related by birth, marriage, or adoption.
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Household
income is the average income of all people living in a housing
unit. It doesn't matter if they are living alone, with a family, or
with a group of unrelated individuals.
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Real
income removes the effects of inflation. To compare income levels
over time, you must use real income. Nominal income ignores the
changing cost of living. That's also the difference between real
versus nominal GDP.
2017 Average Income
At first glance, it was a new record, but the Census warns that it modified its questions. As a result, the household income was about the same as in 2007 and 1999. The Census reports household income in Table HINC-01.
U.S. Average Income Has Caught Up
Historical Real Median Household Income, Economic Growth, and Unemployment
| Year | Income | Change | GDP Growth | Jobless Rate | Events |
|---|---|---|---|---|---|
| 1997 | $55,218 | 2.1% | 4.4% | 4.7% | |
| 1998 | $57,248 | 3.7% | 4.5% | 4.4% | LTCM crisis |
| 1999 | $58,665 | 2.5% | 4.8% | 4.0% | Y2K scare |
| 2000 | $58,544 | -0.2% | 4.1% | 3.9% | NASDAQ bubble burst |
| 2001 | $57,246 | -2.2% | 1.0% | 5.7% | EGTRRA, 9/11 attacks |
| 2002 | $56,599 | -1.1% | 1.7% | 6.0% | War on Terror |
| 2003 | $56,528 | -0.1% | 2.9% | 5.7% | JGTRRA |
| 2004 | $56,332 | -0.3% | 3.8% | 5.4% | Business growth |
| 2005 | $56,935 | 1.1% | 3.5% | 4.9% | Incomes improve |
| 2006 | $57,379 | 0.8% | 2.9% | 4.4% | Fed raised rates |
| 2007 | $58,149 | 1.3% | 1.9% | 5.0% | Subprime crisis |
| 2008 | $56,076 | -3.6% | -0.1% | 7.3% | Financial crisis |
| 2009 | $55,683 | -0.7% | -2.5% | 9.9% | ARRA |
| 2010 | $54,245 | -2.6% | 2.6% | 9.3% | Obama tax cuts |
| 2011 | $53,401 | -1.6% | 1.6% | 8.5% | Austerity measures |
| 2012 | $53,331 | -0.1% | 2.2% | 7.8% | See US 2012Asian crisis |
| 2013 | $55,214 | 3.5% | 1.8% | 6.7% | LFPR drops |
| 2014 | $54,398 | -1.5% | 2.5% | 5.6% | Strong dollar |
| 2015 | $57,230 | 5.2% | 2.9% | 5.0% | Natural jobless rate |
| 2016 | $59,039 | 3.2% | 1.6% | 4.7% | Presidential race |
| 2017 | $61,372 | N.A. | 2.2% | 4.1% | See note below |
Poverty
Capitalism requires U.S. companies to employ these lower-cost, skilled employees. Otherwise, they will lose market share to international competitors.
No. If you were earning the U.S. minimum wager and you were the only breadwinner for a family of four, you would fall beneath the poverty line. The minimum wage pays a full-time worker $15,080 a year. That's less than the $11.95 per hour needed to keep a family out of poverty.