The American Debt Slave

Global-household-debt-gdp-US-2018-q3

Reprinted from the original post at https://wolfstreet.com/

Go to this link for the full article.

Note that here in the US we rank #11 worldwide.  Read the article to find out who’s in the top ten.

Advertisements

Authors Guild Survey Shows Drastic 42 Percent Decline in Authors Earnings in Last Decade

The Authors Guild’s 2018 Author Income Survey, the largest survey of writing-related earnings by American authors ever conducted finds incomes falling to historic lows to a median of $6,080 in 2017, down 42 percent from 2009.

The Authors Guild surveyed its membership and the members of 14 other writers organizations in 2018, receiving detailed responses from 5,067 authors. This included traditionally, hybrid and self-published authors who have commercially published one or more books. When discussing median incomes, the survey looked at both full-time and part-time authors.

The respondents reported a median author income of $6,080, continuing a sharp decline over the last decade: $8,000 in 2014 and $10,500 in 2009 (per the Authors Guild’s 2015 Survey), down again from $12,850 in 2007, as reported in a joint Authors Guild/PEN survey.

Earnings from book income alone fell even more, declining 21 percent to $3,100 in 2017 from $3,900 in 2013 and just over 50 percent from 2009’s median book earnings of $6,250.

The survey showed a shift in book earnings to other writing-related activities, such as speaking engagements, book reviewing or teaching. Including those sources, respondents who identified themselves as full-time book authors still only earned a median income of $20,300, well below the federal poverty line for a family of three or more.

Add writer to the list of occupations to steer your grandchildren away from.

I am a non-professional non-paid writer.  And professional writers don’t make much more than I do writing.

Read the entire article here.

America’s Declining Well-Being, Health, and Life Expectancy

Abstract

Although recent declines in life expectancy among non-Hispanic Whites, coined “deaths of despair,” grabbed the headlines of most major media outlets, this is neither a recent problem nor is it confined to Whites. The decline in America’s health has been described in the public health literature for decades and has long been hypothesized to be attributable to an array of worsening psychosocial problems that are not specific to Whites.  To test some of the dominant hypotheses, we show how various measures of despair have been increasing in the United States since 1980 and how these trends relate to changes in health and longevity. We show that mortality increases among Whites caused by the opioid epidemic come on the heels of the crack and HIV syndemic among Blacks. Both occurred on top of already higher mortality rates among all Americans relative to people in other nations, and both occurred among declines in measures of well-being.  We believe that the attention given to Whites is distracting researchers and policymakers from much more serious, longer-term structural problems that affect all Americans. (Am J Public Health. Published online ahead of print September 25, 2018: e1–e6. doi:10.2105/AJPH.2018.304585)

Interesting AJPH analysis which can be accessed at this link.

The article has a link to the complete analysis in PDF.

Barcelona Grapples with its Housing Crisis

Even today, following months of political uncertainty in Catalonia, Spain is the second most attractive European country for real estate investment after Germany, according to the London-based real estate consultancy Knight Frank. For Spain’s central government this is a sign of success, and it has no intention of changing the law that helped fuel Spain’s rental bubble, in spite of all the damage it’s doing across cities like Madrid, Barcelona and San Sebastian.

The affordable housing problem is not limited to the US.

I’d usually recommend relocating to Oklahoma but…

Read these two articles here and here.

Barcelona Rental Market Is Out of Control

Rents up 50% since 2013, wages go nowhere, a third of residents earn less than €1,000/month.