Credit agency’s created the dangerous data model which regularly hurts consumers. It’s time for them to go. Credit reporting is done successfully in many other countries by a central bank. We need to move to that model.
Credit bureaus have proved to be complete failures at safeguarding the public. Let’s demand we get our data back.
In at least 40 other countries — including Belgium, France, Germany, Italy and Spain — credit reporting can be done by a public credit registry. It is usually operated by a central bank that already oversees the financial institutions that feed information into the reports. These reports tend to be more accurate because the operators have a legal right to demand data from banks as well as a mandate to ensure it’s correct and that errors are fixed. Data on late payments and defaults are erased once a consumer has settled up.
Many of these public registries leave out things like medical debt, tax information and personal details like marital status, focusing only on loan amounts. Only about 40 percent of registries collect consumers’ addresses, and two-thirds collect taxpayer IDs — the kind of information leaked in the Equifax breach.
Get Rid of Equifax https://nyti.ms/2jK5SAF
There are things we could be doing to reduce the costs and impacts of the opioid crisis. Here are 8. Tucked into #7 is the staff favorite: stick it to those most responsible: The Drug Companies.
America’s 8-Step Program for Opioid Addiction https://nyti.ms/2fG6QwB
Conservatives have been lying to their base for so long on so many subjects, and now it finally is coming back to haunt them.
Trapped by Their Own Lies https://nyti.ms/2yne9wR
The Constitution was designed at a time when there wasn’t any meaningful inequality among the white property owner class which wrote it.
The problem is that our constitutional system might not survive in an unequal economy. Campaign contributions, lobbying, the revolving door of industry insiders working in government, interest group influence over regulators and even think tanks — all of these features of our current political system skew policy making to favor the wealthy and entrenched economic interests. “The rich will strive to establish their dominion and enslave the rest,” Gouverneur Morris observed in 1787. “They always did. They always will.” An oligarchy — not a republic — is the inevitable result.
Theodore Roosevelt wrote, “There can be no real political democracy unless there is something approaching an economic democracy.”
For all its resilience and longevity, our Constitution doesn’t have structural checks built into it to prevent oligarchy or populist demagogues. It was written on the assumption that America would remain relatively equal economically. Even the father of the Constitution understood this. Toward the end of his life, Madison worried that the number of Americans who had only the “bare necessities of life” would one day increase. When it did, he concluded, the institutions and laws of the country would need to be adapted, and that task would require “all the wisdom of the wisest patriots.”
Our Constitution Wasn’t Built for This https://nyti.ms/2y5UDEK
This article points out the likelihood that people prefer fairness to equality, and that we may be using them interchangeably when we shouldn’t.
What we see from studies of children and studies of small-scale societies is an early-emerging desire for fairness, and a particularly strong motivation not to get less than anyone else. But we don’t find a smidgen of evidence that humans or any other species naturally value equality for its sake.
This is the new colonialism. Western corporations are forcing their junk food down the collective throats of the developing world.
The story is as much about economics as it is nutrition. As multinational companies push deeper into the developing world, they are transforming local agriculture, spurring farmers to abandon subsistence crops in favor of cash commodities like sugar cane, corn and soybeans — the building blocks for many industrial food products. It is this economic ecosystem that pulls in mom-and-pop stores, big box retailers, food manufacturers and distributors, and small vendors
The new reality is captured by a single, stark fact: Across the world, more people are now obese than underweight. At the same time, scientists say, the growing availability of high-calorie, nutrient-poor foods is generating a new type of malnutrition, one in which a growing number of people are both overweight and undernourished.
How Big Business Got Brazil Hooked on Junk Food https://nyti.ms/2jyJTww
A look at what we could do to prevent the next crash as opposed to what we’ve done in the past.
The Fed missed the crisis in part because it has a dual mandate to keep unemployment and consumer price inflation low — and both were low before 2008. Real reform would add a third mandate: maintaining financial stability, and in particular stabilizing prices for assets like houses and stocks, which are not counted as “consumer prices” but now have a bigger influence on the economy.
What Trump Can Do to Prevent the Next Crash https://nyti.ms/2y0ynwn