#Consumer Banking Service Market 2024

[mostlysignssomeportents]

All bets are off

When unions are outlawed, only outlaws will have unions. Unions don't owe their existence to labor laws that protect organizing activities. Rather, labor laws exist because once-illegal unions were formed in the teeth of violent suppression, and those unions demanded – and got – labor law.

Bosses have hated unions since the start, and they've really hated laws protecting workers. Dress this up in whatever self-serving rationale you want – "the freedom to contract," or "meritocracy" – it all cashes out to this: when workers bargain collectively, value that would otherwise go to investors and executives goes to the workers.

I'm not just talking about wages here, either. If an employer is forced – by a union, or by a labor law that only exists because of union militancy – to operate a safe workplace, they have to spend money on things like fire suppression, PPE, and paid breaks to avoid repetitive strain injuries. In the absence of some force that corrals bosses into providing these safety measures, they can use that money to pay themselves, and externalize the cost of on-the-job injuries to their workers.

The cost and price of a good or service is the tangible expression of power. It is a matter of politics, not economics. If consumer protection agencies demand that companies provide safe, well-manufactured goods, if there are prohibitions on price-fixing and profiteering, then value shifts from the corporation to its customers.

Now, if labor has few rights and consumers have many rights, then bosses can pass their consumer-side losses on to their workers. This is the Walmart story, the Amazon story: cheap goods paid for with low wages and dangerous working conditions. Likewise, if consumer rights are weak but labor rights are strong, then bosses can pass their costs onto their customers, continuing to take high profits by charging more. This is the story of local gig-work ordinances like NYC's, which guaranteed a minimum wage to delivery drivers – restaurateurs responded by demanding the right to add a surcharge to their bills:

https://table.skift.com/2018/06/22/nyc-surcharge-debate/

But if labor and consumer groups act in solidarity, then they can operate as a bloc and bosses and investors have to eat shit. Back in 2017, the pilots' union for American Airlines forced their bosses into a raise. Wall Street freaked out and tanked AA's stock. Analysts for big banks were outraged. Citi's Kevin Crissey summed up the situation perfectly, in a fuming memo: "This is frustrating. Labor is being paid first again. Shareholders get leftovers":

https://www.vox.com/new-money/2017/4/29/15471634/american-airlines-raise

Limiting the wealth of the investor class also limits their power, because money translates pretty directly into political power. This sets up a virtuous cycle: the less money the investor class has to spend on political projects, the more space there is for consumer- and labor-protection laws to be enacted and enforced. As labor and consumer law gets more stringent, the share of the national income going to people who make things, and people who use the things they make, goes up – and the share going to people who own things goes down.

Seen this way, it's obvious that prices and wages are a political matter, not an "economic" one. Orthodox economists maintain the pretense that they practice a kind of physics of money, discovering the "natural," "empirical" way that prices and wages move. They dress this up with mumbo-jumbo like the "efficient market hypothesis," "price discovery," "public choice," and that old favorite, "trickle-down theory." Strip away the doublespeak and it boils down to this: "Actually, your boss is right. He does deserve more of the value than you do":

https://pluralistic.net/2024/09/09/low-wage-100/#executive-excess

Even if you've been suckered by the lie that bosses have a legal "fiduciary duty" to maximize shareholder returns (this is a myth, by the way – no such law exists), it doesn't follow that customers or workers share that fiduciary duty. As a customer, you are not legally obliged to arrange your affairs to maximize the dividends paid by to investors in your corporate landlord or by the merchants you patronize. As a worker, you are under no legal obligation to consider shareholders' interests when you bargain for wages, benefits and working conditions.

The "fiduciary duty" lie is another instance of politics masquerading as economics: even if bosses bargain for as big a slice of the pie as they can get, the size of that slice is determined by the relative power of bosses, customers and workers.

This is why bosses hate unions. It's why the scab presidency of Donald Trump has waged all-out war on unions. Trump just effectively shuttered the National Labor Relations Board, unilaterally halting its enforcement actions and investigations. He also illegally fired one of the Democratic NLRB board members, leaving the agency with too few board members to take any new actions, meaning that no unions can be recognized – indeed, the NLRB can't do anything – for the foreseeable future:

https://www.npr.org/2025/01/28/nx-s1-5277103/nlrb-trump-wilcox-abruzzo-democrats-labor

Trump also fired the NLRB's outstanding General Counsel, Jennifer Abruzzo, who was one of the stars of the Biden administration, who promulgated rules that decisively tilted the balance in favor of labor:

https://pluralistic.net/2023/09/06/goons-ginks-and-company-finks/#if-blood-be-the-price-of-your-cursed-wealth

Trump is playing Grinch here – he's descended upon Whoville to take all the Christmas decorations, in the belief that these are the source of Christmas. But the Grinch was wrong (and so is Trump): Christmas was in the heart of the Whos, and the tinsel and baubles were the expression of that Christmas spirit. Likewise, labor rights come from labor organizing, not the other way around.

Labor rights were enshrined in federal law in 1935, with the National Labor Relations Act. Bosses hated – and hate – the NLRA. 12 years later, they passed the Taft-Hartley Act, which substantially gutted the NLRA. Most notably, Taft-Hartley bans "sympathy strikes" – when unions walk out in support of one another. Sympathy strikes are a hugely powerful way for workers to claim value away from bosses and investors, which is why bosses got rid of them.

But even then, bosses who were honest with themselves would admit that they preferred life under the NLRA to life before it. Remember: labor militancy created the NLRA, not the other way around. When workers didn't have the legal means to organize, they organized by illegal means. When they didn't have legal ways of striking, they struck illegally. The result was pitched battles, even bloodbaths, as cops beat and even killed labor organizers. Bosses hired thugs who committed mass murder – literally. In 1913, strikebreakers working for the Calumet and Hecla Mining Company started a stampede during a union Christmas party that killed 73 people, including many copper miners' children:

https://en.wikipedia.org/wiki/Italian_Hall_disaster

Workers didn't take this lying down. Violence was met with violence. Bombs went off outside factories and stately mansions. There was gunfire and arson. Bosses had to hire armed guards to escort them as they scurried between their estates and their fancy parties and their executive offices. The country was in a state of near-perpetual chaos.

The NLRA created a set of rules for labor/boss negotiations – rules that helped workers claim a bigger slice of the pie without blood in the streets. But the NLRA also had benefits for bosses: unions were obliged to play by its rules, if they wanted to reap its benefits. The NLRA didn't just put a ceiling over boss power – it also put a ceiling over worker militancy. Von Clausewitz says that "war is politics by other means," which implies that politics are war by other means. The alternative to politics isn't capitulation, it's war.

Trump has torn up the rules to the labor game, but that doesn't mean the game ends. That just means there are no rules.

The labor movement has many great organizer/writers, but few can match the incredible Jane McAlevey, who died of cancer last summer (rest in power). In her classic A Collective Bargain, McAlevey describes her organizer training, from a tradition that went back to the days before the National Labor Relations Act:

https://pluralistic.net/2023/04/23/a-collective-bargain/

McAlevey was very clear that labor law owes its existence to union power, not the other way around. She explains very clearly that union organizers invented labor law after they invented unions, and that unions can (and indeed, must) exist separately from government agencies that are charged with protecting labor law. But she goes farther: in Collective Bargain, McAlevey describes how the 2019 LA Teachers' Strike didn't just win all the wage and benefits demands of the teachers, but also got the school district to promise to put a park or playground near every school in the system, and got a ban on ICE agents harassing parents at the school gates.

This wildly successful strike forged bonds among teachers, and between teachers and their communities. These teachers went on to run a political get-out-the-vote campaign in the 2020 elections and elected two Democratic reps to Congress and secured the Dems' majority. McAlevey contrasted the active way good unions involve workers as participants with the thin, anemic way that the Democratic Party engages with supporters – solely by asking them for money in a stream of frothing, clickbait text messages. As McAlevey wrote, "Workplace democracy is a training ground for true national democracy."

Militant labor doesn't just protect labor rights – it protects human rights. Remember: MLK, Jr was assassinated while campaigning for union janitors in Memphis. LA teachers ended ICE sweeps at the school gates. Librarian unions are leading the fight against book bans.

The good news is that public opinion has swung wildly in favor of unions over the past decade. More people want to join unions than at any time in generations. More people support unions that at any time in generations.

The bad news is that union leadership fucking suuuuuuuucks. As Hamilton Nolan writes, union bosses are sitting on vast, heretofore unseen warchests of cash, and they just experienced a four-year period of governmental support for unions unheard of since the Carter administration, and they did fuck all with that opportunity:

https://www.hamiltonnolan.com/p/confirmed-unions-squandered-the-biden

Big unions have effectively stopped trying to organize new workers, even when workers beg them for help forming a union. Union organizing budgets are so small as to be indistinguishable from zero. Despite the record number of workers who want to be in a union, the number of workers who are in a union actually fell during the Biden years.

Indeed, some union bosses actually campaigned for Trump, a notorious scab. Teamsters boss Sean O'Brien spoke at the fucking RNC, a political favor that Trump repaid by killing the NLRB and every labor enforcement action and investigation in the country. Nice one, O'Brien. See you in hell:

https://www.theatlantic.com/politics/archive/2024/08/teamster-union-trump/679513/

Union bosses squandered a historical opportunity to build countervailing power. Now, Trump's stormtroopers are rounding up workers with the goal of illegally deporting them. Fascism is on the rise. Labor and fascism are archenemies. Organized labor has always been the biggest threat to fascism, every time it has reared its head. That's why fascists target unions first. Union bosses cost us an organized force that could effectively defend our friends and neighbors from Trump's deportation stormtroopers:

https://prospect.org/blogs-and-newsletters/tap/2025-01-28-trumps-lawbreaking-also-aimed-at-workers/

Not every union boss is a scab like O'Brien. Shawn Fain, head of the UAW, won an historic strike against all three of the Big Three automakers, and made sure that the new contracts all ran out in 2028, and called on other unions to do the same, so that the country could have a general strike in 2028 without violating the Taft-Hartley Act (Fain was operating on the now-dead assumption that unions had to play by the rules):

https://pluralistic.net/2024/11/11/rip-jane-mcalevey/#organize

A general strike isn't just a strike for workers' rights. Under Trump, a general strike is a strike against Trumpism and all its horrors: kids in cages, forced birth, trans erasure, climate accelerationism – the whole fucking thing.

A general strike would build the worker power to occupy the Democratic Party and force it to stand up for the American people against oligarchy, rather than meekly capitulating to fascism (and fundraising), which is all they know how to do anymore:

https://pluralistic.net/2025/01/10/smoke-filled-room-where-it-happens/#dinosaurs

But before we can occupy the Dems, we have to occupy the unions. We need union bosses who are committed to signing up every worker who wants workplace democracy, and unionizing every workplace in spite of the NLRB, not with its help. We need to go back to our roots, when there were no rules.

That's the world Trump made. We need to make him regret that decision.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2025/01/29/which-side-are-you-on/#strike-three-yer-out

[gingerofsuburbia]

BDS Consumer Boycott Targets

Everything here is copied over from the BDS website.

Hewlett Packard Inc (HP Inc)

HP Inc (US) provides services to the offices of genocide leaders, Israeli PM Netanyahu and Financial Minister Smotrich. HPE, which shares the same brand, provides technology for Israel’s Population and Immigration Authority, a pillar of its apartheid regime.

Chevron (including Caltex and Texaco)

US fossil fuel multinational Chevron is the main corporation extracting gas claimed by apartheid Israel in the East Mediterranean. Chevron generates billions in revenues, strengthening Israel’s war chest and apartheid system, exacerbating the climate crisis and Gaza siege, and is complicit in depriving the Palestinian people of their right to sovereignty over their natural resources. Chevron has thousands of retail gas stations around the world under the Chevron, Caltex, and Texaco brand names.

Siemens

Siemens (Germany) is the main contractor for the Euro-Asia Interconnector, an Israel-EU submarine electricity cable that is planned to connect Israel’s illegal settlements in the occupied Palestinian territory to Europe. Siemens-branded electrical appliances are sold globally.

PUMA

Since 2018, we have called for a boycott of PUMA (Germany) due to its sponsorship of the Israel Football Association (IFA), which governs teams in Israel’s illegal settlements on occupied Palestinian land. In a major BDS win in December 2023, PUMA leaked news to the media that it will not be renewing its IFA contract when it expires in December 2024. Until then, it is still complicit, so we continue to #BoycottPUMA until it finally ends its complicity in apartheid.

Carrefour

Carrefour (France) is a genocide enabler. Carrefour-Israel has supported Israeli soldiers partaking in the unfolding genocide of Palestinians in Gaza with gifts of personal packages. In 2022, it entered a partnership with the Israeli company Electra Consumer Products and its subsidiary Yenot Bitan, both of which are involved in grave violations against the Palestinian people.

AXA

Insurance giant AXA (France) invests in Israeli banks financing war crimes and the theft of Palestinian land and natural resources. When Russia invaded Ukraine, AXA took targeted measures against it. Yet, Axa has taken no action against Israel, a 75-year-old regime of settler-colonialism and apartheid, despite its ongoing genocidal war on Gaza.

SodaStream

SodaStream is an Israeli company that is actively complicit in Israel's policy of displacing the indigenous Bedouin-Palestinian citizens of present-day Israel in the Naqab (Negev) and has a long history of racial discrimination against Palestinian workers.

Ahava

Ahava cosmetics is an Israeli company that has its production site, visitor center, and main store in an illegal Israeli settlement in the occupied Palestinian territory.

RE/MAX

RE/MAX (US) markets and sells property in illegal Israeli settlements built on stolen Palestinian land, thus enabling Israel’s colonization of the occupied West Bank.

Israeli produce in your supermarkets

Boycott produce from Israel in your supermarket and demand their removal from shelves. Beyond being part of a trade that fuels Israel’s apartheid economy, Israeli fruits, vegetables, and wines misleadingly labeled as “Product of Israel” often include products of illegal settlements on stolen Palestinian land. Israeli companies do not distinguish between the two, and neither should consumers.

Non-BDS Grassroots Boycotts:

McDonald’s (US), Burger King (US), Papa John’s (US), Pizza Hut (US), WIX (Israel), etc. are now being targeted in some countries by grassroots organic boycott campaigns, not initiated by the BDS movement. BDS supports these boycott campaigns because these companies, or their branches or franchisees in Israel, have openly supported apartheid Israel and/or provided generous in-kind donations to the Israeli military amid the current genocide. If these grassroots campaigns are not already organically active in your area, we suggest focusing your energies on our strategic campaigns above. 

Recently, McDonald’s franchisee in Malaysia has filed a SLAPP lawsuit against solidarity activists, claiming defamation. Instead of holding the Israel franchisee to account for supporting genocide, we are now witnessing corporate bullying against activists. For both these reasons, we are calling to escalate the boycott of McDonald’s until the parent company takes action and ends the complicity of the brand.

Remember, all Israeli banks and virtually all Israeli companies are complicit to some degree in Israel’s system of occupation and apartheid, and hundreds of international corporations and banks are also deeply complicit. We focus our boycotts on a small number of companies and products for maximum impact.

[dreaminginthedeepsouth]

Supreme Court poised to appoint federal judges to run the US economy.

January 18, 2024

ROBERT B. HUBBELL

JAN 17, 2024

The Supreme Court heard oral argument on two cases that provide the Court with the opportunity to overturn the “Chevron deference doctrine.” Based on comments from the Justices, it seems likely that the justices will overturn judicial precedent that has been settled for forty years. If they do, their decision will reshape the balance of power between the three branches of government by appointing federal judges as regulators of the world’s largest economy, supplanting the expertise of federal agencies (a.k.a. the “administrative state”).

Although the Chevron doctrine seems like an arcane area of the law, it strikes at the heart of the US economy. If the Court were to invalidate the doctrine, it would do so in service of the conservative billionaires who have bought and paid for four of the justices on the Court. The losers would be the American people, who rely on the expertise of federal regulators to protect their water, food, working conditions, financial systems, public markets, transportation, product safety, health care services, and more.

The potential overruling of the Chevron doctrine is a proxy for a broader effort by the reactionary majority to pare the power of the executive branch and Congress while empowering the courts. Let’s take a moment to examine the context of that effort.

But I will not bury the lead (or the lede): The reactionary majority on the Court is out of control. In disregarding precedent that conflicts with the conservative legal agenda of its Federalist Society overlords, the Court is acting in a lawless manner. It is squandering hard-earned legitimacy. It is time to expand the Court—the only solution that requires a simple majority in two chambers of Congress and the signature of the president.

The “administrative state” sounds bad. Is it?

No. The administrative state is good. It refers to the collective body of federal employees, regulators, and experts who help maintain an orderly US economy. Conservatives use the term “administrative state” to denigrate federal regulation and expertise. They want corporations to operate free of all federal restraint—free to pollute, free to defraud, free to impose dangerous and unfair working conditions, free to release dangerous products into the marketplace, and free to engage in deceptive practices in public markets.

The US economy is the largest, most robust economy in the world because federal regulators impose standards for safety, honesty, transparency, and accountability. Not only is the US economy the largest in the world (as measured by nominal GDP), but its GDP per capita ($76,398) overshadows that of the second largest economy, China ($12,270). The US dollar is the reserve currency for the world and its markets are a haven for foreign investment and capital formation. See The Top 25 Economies in the World (investopedia.com)

US consumers, banks, investment firms, and foreign investors are attracted to the US economy because it is regulated. US corporations want all the benefits of regulations—until regulations get in the way of making more money. It is at that point that the “administrative state” is seen as “the enemy” by conservatives who value profit maximization above human health, safety, and solvency.

It is difficult to comprehend how big the US economy is. To paraphrase Douglas Adams’s quote about space, “It’s big. Really big. You just won't believe how vastly, hugely, mindbogglingly big it is.” Suffice to say, the US economy is so big it cannot be regulated by several hundred federal judges with dockets filled with criminal cases and major business disputes.

Nor can Congress pass enough legislation to keep pace with ever changing technological and financial developments. Congress can’t pass a budget on time; the notion that it would be able to keep up with regulations necessary to regulate Bitcoin trading in public markets is risible.

What is the Chevron deference doctrine?

Managing the US economy requires hundreds of thousands of subject matter experts—a.k.a. “regulators”—who bring order, transparency, and honesty to the US economy. Those experts must make millions of judgments each year in creating, implementing and applying federal regulations.

And this is where the “Chevron deference doctrine” comes in. When federal experts and regulators interpret federal regulations in esoteric areas such as maintaining healthy fisheries, their decisions should be entitled to a certain amount of deference. And they have received such deference since 1984, when the US Supreme Court created a rule of judicial deference to decisions by federal regulators in the case of Chevron v. NRDC.

What happened at oral argument?

In a pair of cases, the US Supreme Court heard argument on Tuesday as to whether the Chevron deference doctrine should continue—or whether the Court should overturn the doctrine and effectively throw out 17,000 federal court decisions applying the doctrine. According to Court observers, including Mark Joseph Stern of Slate, the answer is “Yes, the Court is poised to appoint federal judges as regulators of the US economy.” See Mark Joseph Stern in Slate, The Supreme Court is seizing more power from Democratic presidents. (slate.com)

I recommend Stern’s article for a description of the grim atmosphere at the oral argument—kind of “pre-demise” wake for the Chevron deference doctrine. Stern does a superb job of explaining the effects of overruling Chevron:

Here’s the bottom line: Without Chevron deference, it’ll be open season on each and every regulation, with underinformed courts playing pretend scientist, economist, and policymaker all at once. Securities fraud, banking secrecy, mercury pollution, asylum applications, health care funding, plus all manner of civil rights laws: They are ultravulnerable to judicial attack in Chevron’s absence. That’s why the medical establishment has lined up in support of Chevron, explaining that its demise would mark a “tremendous disruption” for patients and providers; just rinse and repeat for every other area of law to see the convulsive disruptions on the horizon.

The Kochs and the Federalist Society have bought and paid for this sad outcome. The chaos that will follow will hurt consumers, travelers, investors, patients and—ultimately—American businesses, who will no longer be able to rely on federal regulators for guidance as to the meaning of federal regulations. Instead, businesses will get an answer to their questions after lengthy, expensive litigation before overworked and ill-prepared judges implement a political agenda.

Expand the Court. Disband the reactionary majority by relegating it to an irrelevant minority. If we win control of both chambers of Congress in 2024 and reelect Joe Biden, expanding the Court should be the first order of business.

[Robert B. Hubbell Newsletter]

[sourcreammachine]

GREEN PARTY MANIFESTO 2024 SUMMARY

tldr: there's a feeling of tension in this manifesto, between youthful zennial climatic ecosocialism and old-guard hippy-liberal environmentalism. this year the greens may well go from 1 MP to the dizzying heights of 2 (there's whispers on the wind that they may even get 3...), and the green council delegation is at 800-odd now, so this could easily be a changing-of-the-guard moment

with the great Berry and the ok Denyer in parliament the party could have more momentum in battling the starmerite government, and with that, it has the ability, the possibility to pick up more momentum. this is a big opportunity in the party's history - over the next five years it can and could be pushed into a holistic ecosocialist movement by the centrally influential mass party membership, and remove the last dregs of its tunnel vision to provide a lefty movement for everyone, green and pink, a Newfoundland coalition. with votes at 16 on the cards and this potential evolution of the party, 2029 could be a big moment for this country's left. whether or not the greens play the role of keystone is up to them

it is also the only manifesto to use the term 'neurodivergent'

💷ECONOMY

wealth tax of 1% on individuals with assets over §10m and 2% for assets over §1b (an extremely humble proposal), reform capital gains and investment dividend taxation to be at the same rates as income taxation, remove the income-based bands on national insurance contributions, ie raising total income taxation by 8% at §50k/a, – altogether raising government revenues by upwards of §70b/a

stratify VAT to reduce it for consumer stuff and hike it for stuff like financial services

permanent windfall tax on banks for whenever they get windfalls

perform a holistic land survey to get the data needed for a new, effective Land Tax

abolish the tax relief on existing freeports and SEZs

heavy carbon tax to raise a boatload of billions, rising progressively over a decade to allow industrial adaptation, for a ~§80b state windfall for five years that'll be for green investment as this windfall starts to recede

renationalise water and energy

§15 minimum wage, 10:1 pay ratio for all organisations public and private (ie §150 sort-of maximum wage, ~§300k/a), mandatory equal pay audits, 'support' lower hours and four-day weeks [clarification needed]

unambiguously define gig workers as workers with contract rights from day one, repeat offenders of gig-slavery will be banned from operating in the country

every City bank required to produce a strategy with a clear pathway to divestment of all fossil fuels "as soon as possible and at least by 2030", every City non-banking organisation simply to be banned from having fossil fuel in their portfolios, credit to be banned for repeat City climate offenders, mandate the BoE to fulfil the funding of the climate transition and climate leadership of the City, FCA to develop measures to ban fossil fuel share trading in the City and immediately prohibit all new shares in fossil fuels

"we will explore legal ways for companies to be transformed into mutual organisations"😈

develop regional cooperative banks to invest in regional SMEs, coops and community enterprises

diversify crop growth, promote local agricultural cooperatives and peripheral urban horticultural farms, give farmers a sort of collective bargain against grocers

aim towards a circular economy: require ten-year warranties on white goods, rollout of right-to-repair

tighten monopoly laws on media with a hard cap preventing >20% of a media market being owned by one individual or company and implement Leveson 2

🏥PUBLIC SERVICES

abolish tuition fees and cancel standing debt

surge nhs funding by §30B, triple labour's spending plans for everything, the entire budget, the entire state, everything

free personal care, with occupational therapy being part of this

35h/w free child care (eg seven hours over five days, or seven days of five hours)

renationalise many academies under local authorities, abolish the "charity" status of private schools and charge VAT

surge funding for smoking-cessation, addiction support and sexual health service

surge funding for public dentistry with free care for children and low-earners

free school breakfasts in primary school and free school lunches for all schools

one-month guarantee of access to mental health therapies

online access to PrEP

let school playing fields be used in the evenings by local sports clubs

greater funding for civic sports facilities and pools

🏠HOUSING

unambiguously-under-the-law nationalise the crown estate for an absolute fuckton of land and assets for housing and for green energy and rewilding for FREE

rent control for local authorities, ban no-fault evictions and introduce long-term leases, create private tenancy boards of tenants

local authorities to have right of first refusal on the purchase of certain properties at aggressive rates, such as unoccupied or uninsulated buildings

all new homes to be Passivhaus standard with mandatory solar panels and heat pumps

§30B across five years to insulate homes, §12B of which is for social homes, and §9B more for heat pumps, and §7B more for summer cooling

planning law reform: council planning mechanisms to priorities little developments all over the place rather than sprawling blobs, demolitions to require as thorough a planning application as erections, new developments required to not be car dependent

planning laws to require large-scale developments feature access to key community infrastructures such as transport, health and education, often mandating the construction of new key infrastructures, support nightlife and local culture in planning regulations

exempt pubs and local cultural events from VAT

building materials to be reusable, builders' waste rates to be surged to encourage use of reuse

750k new social homes in five years

🚄TRANSPORT

'a bus service to every village', restore local authority control and/or ownership of their busses

renationalise rail via franchise-concession lapsing, slowly assume ownership of the rolling stock (currently leased, and would continue to be so under labour's implementation of renationalisation) by buying a new train when the stock needs to be replaced

electrification agenda across the rail network, strategic approach to rail line and station reopenings

bring forward (sorta, the tories suspended it but labour says they'll reinstate it) the new petrol car ban from 2030 to 2027, existing petrol cars targeted to be off the road by 2034, investigate road-price charges as a replacement for petrol tax, hike road tax proportionally to vehicle weight, drop urban speed limits from 50kph to 30kph (or from 30mph to 20mph if you only speak Wrong), mass funding for freightrail and support logistics firms transitioning away from lorries

§2.5b/a for footpaths and cycleways, target of 50% of urban journeys to be extravehicular by 2030

frequent-flyer levy, ban on domestic flights within three-hour rail distance, remove the exemption of airline fuel from fuel tax, prioritise training of airline workers into other transportational jobs

👮FORCE

abolish the home office, transfer its police/security portfolio to the justice ministry and its citizenship/migration portfolio to a new migration ministry separate from the criminal justice system

abolish the kill the bill bill and restore the right to protest

recognise palestine, push for immediate ceasefire and prosecution of war crimes, back the south africa case, "[support] an urgent international effort to end the illegal occupation of palestinian land"

grant asylum-seekers the right to work before their application is granted

end the hostile environment

abolish Prevent

end routine stop-and-search and facial recognition

commission to reform 'counterproductive' drug regime, decriminalise personal possession

amend the Online Safety Act to "[protect] political debate from being manipulated by falsehoods, fakes and half-truths", ie actually protecting 'fReE sPeEcH' and not everything that rightists imply by that phrase

decriminalise sex work

reform laws to give artists IP protections against ai

cancel trident and disarm

push for nato reforms (in its and our interest, they're not russophiles, they're not galloway, it's ok): get it to adopt a no-first-use nuclear policy, get it to prioritise diplomatic action first rather than military reaction, get it to adopt a stronger line on only acting for the defence of its member states

right to roam🚶‍♂️

🌱CLIMATE

zero-carbon by 2040, rather than the ephemeral ostensible government target of 2050

stop all new oil/gas licenses, end all subsidy for oil/gas industries, regulate biofuels to end greenwashing, end subsidies for biomass

decarbonise energy by 2030, minimum threshold of energy infrastructures to be community owned, "end the de facto ban on onshore wind" with planning reform

massively expand the connections between the insular grid and the UCTE continental grid to increase electricity import and export and prevent the need for energy autarky

more targeted bans on single-use plastics

"give nature a legal personhood" ok grandma let’s get you to bed

§2b/a to local authorities for local small-business decarbonisation

"cease development of new nuclear power stations, as nuclear energy is much more expensive and slower to develop than renewables. we are clear that nuclear is a distraction from developing renewable energy and the risk to nuclear power stations from extreme climate events is rising fast. nuclear power stations carry an unacceptable risk for the communities living close to facilities and create unmanageable quantities of radioactive waste. they are also inextricably linked with the production of nuclear weapons. green MPs will campaign to phase out existing nuclear power stations." because some people just can't let go of the seventies. nuclear is good. nuclear is our friend

invest in r&d to find solutions to decarbonise 'residual' carbon in the economy, such as HGVs or mobile machinery

increase unharvested woodland by 50% (no time frame given), grants to farmers for scrub rewilding, rewet Pete Boggs, make 30% of the EEZ protected waters and ban bottom trawling

§4b/a in skills training to stop gas communities getting Thatchered, prioritising shifting these workers into offshore wind

a.. licensing scheme for all pet animals? you guys sure about that one

regulate animal farming with a goal of banning factory farms, ban mass routine antibiotics, ban cages/close confinement and animal mutilation

ban all hunting including coursing and "game", ban snaring, ban hunt-landscaping such as grouse moors, end the badger cull, mandate licensing of all animal workers with lifetime striking off for cruelty convictions, compulsory hedgehog holes in new fencing, 'push' for 'ending' horse and dog racing [clarification needed], new criminal offences for stealing and harming pets, 'work towards' banning animal testing

🗳️DEMOCRACY

proportional representation for parliament and all councils

abolish voter ID

votes at sixteen

votes for all visa'd migrants

restore the electoral commission's prosecutory powers and remove the cap on fines it can impose on parties

increase Short Money, especially for smaller parties

create a manifest legal category of organisation for think tanks, to allow better enforcement of lobbying and funding restrictions

consider fun new measures for political accessibility such as MP jobsharing and allowing public provision of offices for all parliamentary candidates

🎲OTHER STUFF

Self-ID including nonbinary recognition, including with an X passport marker

"work towards rejoining the eu as soon as the domestic political situation is favourable", join the eea now (with restored free movement)

let local authorities invest shares in sports teams, including professional ones, dividends ringfenced for public sports facilities and coaching

right to die

[sunshinesmebdy]

Uranus Awakens: How the Rebellious Bull Shakes Up Business and Finance in 2024

Prepare for disruption, fellow stargazers! As the revolutionary planet Uranus stations direct in the grounded sign of Taurus on January 27, 2024, a cosmic earthquake ripples through the world of business and finance. Get ready for unexpected twists, innovative breakthroughs, and a complete reshaping of the economic landscape. Buckle up, entrepreneurs, investors, and everyone in between — Uranus is here to shake things up!

The Cosmic Cocktail:

Imagine the stoic, earth-loving Taurus as a well-established bank, steeped in tradition and conservative practices. Now, picture the rebellious Uranus, bursting in with a briefcase full of digital currency and blockchain ideas. That’s the essence of this transit — a clash between old and new, stability and revolution, practicality and radical transformation.

Impacts to Expect:

Technological Disruption: Brace yourself for a wave of innovation in finance and business. Cryptocurrency, blockchain, and decentralized finance (DeFi) will take center stage, challenging traditional banking systems and pushing the boundaries of what’s possible.

Prepare for a digital gold rush as Uranus throws open the vault of financial innovation! Cryptocurrency will erupt into mainstream commerce, blockchain will become the new ledger, and DeFi will democratize finance like never before. Traditional banks better dust off their abacus and learn to code, because digital cowboys are charging onto the financial frontier, redefining how we value, exchange, and invest. From peer-to-peer microloans to fractionalized real estate ownership, the possibilities are as limitless as your imagination. Buckle up, because the tectonic plates of finance are shifting, and the digital revolution is rewriting the rules of the game!

Shifting Market Dynamics: Expect volatility and unexpected shifts in established industries. Old guard companies might scramble to adapt, while nimble startups with innovative ideas flourish. Think green energy disrupting fossil fuels, or AI revolutionizing the service industry.

Be prepared for market earthquakes! Uranus, the cosmic trickster, will send shockwaves through established industries, causing titans to tremble and upstarts to dance. Picture fossil fuels choking on the dust of solar panels, brick-and-mortar stores gasping as virtual bazaars boom, and customer service bots replacing flustered clerks. AI will infiltrate every corner, from crafting personalized shopping experiences to streamlining logistics, while sustainable solutions crack open resource-hungry giants. It’s a Darwinian playground for businesses — adapt or face extinction. This isn’t just a market shuffle, it’s a complete reshuffle of the deck, and the cards are dealt anew. Get ready for the thrill of the unexpected, because the only constant in this dynamic landscape is change itself!

Evolving Values: Sustainability, ethical practices, and social responsibility will become increasingly important for consumers and investors alike. Businesses that prioritize these values will thrive, while those stuck in outdated models might struggle.

Get ready for a values revolution! Consumers and investors will turn from price tags to purpose tags, demanding businesses that go beyond profit and prioritize sustainability, ethical sourcing, and social responsibility. Imagine carbon-neutral factories replacing smog-belching behemoths, fair-trade coffee beans eclipsing exploitative practices, and employee well-being becoming a non-negotiable bottom line. Businesses that cling to outdated models will find themselves gasping for air as ethical alternatives steal the oxygen. It’s not just a trend, it’s a tidal wave of conscious consumerism sweeping away the tide of greed. So, businesses, listen up: embrace responsible practices, champion inclusivity, and weave sustainability into your very fabric, or risk being swept away by the rising tide of conscious capitalism. The future belongs to those who do good, not just those who do well!

Collaborative Entrepreneurship: Collaboration and community-driven ventures will rise in prominence. Shared workspaces, cooperatives, and peer-to-peer platforms will gain traction, challenging the traditional top-down corporate structure.

Picture the corporate pyramid crumbling as the cosmic crane hoists the collaborative flag! Uranus, the revolutionary, encourages a seismic shift: from isolated silos to thriving beehives. Shared workspaces buzz with creative collisions, cooperatives blossom out of shared passions, and peer-to-peer platforms become the new marketplace, fueled by trust and mutual aid. The top-down hierarchy shivers as horizontal networks rise, blurring the lines between boss and worker, replacing command with consensus. Collaboration takes center stage, not competition, as communities band together to tackle challenges and build innovative solutions. So, entrepreneurs, shed your solopreneur capes and embrace the power of the collective! In this new social business ecosystem, where synergy triumphs over supremacy, the future belongs to those who share, empower, and co-create a brighter tomorrow. Let the collaborative revolution begin!

Focus on Personal Values: Individuals will increasingly prioritize work that aligns with their personal values and passions. Entrepreneurship fueled by purpose and authenticity will flourish, shaping a more diverse and fulfilling business landscape.

Prepare for a workplace metamorphosis! Uranus, the cosmic butterfly, flutters wings of purpose, urging individuals to shed the career chrysalis and soar towards fulfilling their true potential. Gone are the days of soul-sucking jobs; now, personal values take center stage as the compass guiding career choices. Imagine passionate bakers opening community cafes, eco-conscious designers launching upcycled fashion lines, and tech whizzes crafting apps that tackle social issues. Authenticity becomes the new currency, with entrepreneurs weaving their passions into the fabric of their ventures, creating a mosaic of purpose-driven businesses that cater to every corner of the human experience. This isn’t just a career shift, it’s a heart shift, transforming the business landscape into a vibrant tapestry of diverse talents and fulfilled souls. So, listen to your inner compass, embrace your unique spark, and let your passion ignite the world — the future of work belongs to those who dare to be true to themselves!

Tips for Navigating the Cosmic Chaos:

Embrace innovation: Don’t cling to the old ways. Stay open to new technologies, trends, and business models. Be curious, explore, and experiment.

Adapt and evolve: Be prepared to change course quickly. Agility and responsiveness will be key to success in this dynamic environment.

Prioritize sustainability and ethics: Integrate environmental and social responsibility into your business practices. Consumers and investors are increasingly drawn to values-driven companies.

Collaborate and connect: Build partnerships, join communities, and leverage the power of collective action. Collaboration will be crucial for navigating the changing landscape.

Follow your passion: Don’t be afraid to pursue your entrepreneurial dreams. Uranus encourages authenticity and purpose-driven ventures.

Remember, Uranus isn’t about chaos for chaos’ sake. It’s about dismantling outdated structures and paving the way for a more progressive, sustainable, and fulfilling economic future. By embracing the change, staying adaptable, and aligning your business with your values, you can not only survive this cosmic revolution but thrive in the exciting new world it creates. So, let your inner rebel loose, embrace the disruption, and ride the wave of innovation — the economic future is bright for those who dare to dream big!

[reyaint]

economy of HAIQIN

------------------------------------------------------------------------------

date: november 24, 2024

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The Economy of Haiqin

Currency

Haiqian (HQN):

The currency symbol, HQN, is recognized regionally for stability and is commonly pegged against the USD. With a favorable exchange rate of 1 HQN to 0.75 USD, the Haiqian serves as a benchmark for economic health in neighboring countries.

Digital Currency:

As a forward-thinking nation, Haiqin has integrated digital currency into daily life. Roughly 80% of transactions are conducted digitally, promoting a cashless economy and streamlining payment methods for both domestic and international trade.

Banking & Financial Inclusion:

A highly developed banking sector offers easy access to financial services through mobile banking, particularly aiding small businesses. Public investment in financial education is substantial, aimed at improving fiscal literacy among citizens.

Trade Relations

Exports

Agricultural Products:

Due to fertile land and a favorable climate, Haiqin exports high-quality agricultural products, particularly fruits, vegetables, and grains during Iktoia. Specialty items, such as exotic herbs and teas unique to Haiqin, have a growing global market. These products are particularly sought after during harvest seasons, aligning with major festivals like Iktoia.

Artisanal Crafts:

Renowned for handmade textiles, clothes, pottery, and jewelry, the craftsmanship of Haiqin is a cornerstone of cultural exports, with a significant sales boost during the Festival of Arts. 

Technology:

Leading the way in green energy, Haiqin exports solar panels, software, and sustainable tech solutions to several nations.

Imports

Raw Materials:

Haiqin imports metals, oil, and minerals essential to its manufacturing sectors.

Luxury Goods:

High-end fashion, imported automobiles, and gourmet foods are popular among the elite, highlighting Haiqin’s demand for imported luxury.

Wealth Distribution

Income Disparities:

While Haiqin as a whole is wealthy, income inequality is evident, with urban centers like Stellis holding the majority of economic wealth, while more rural areas face economic challenges. The wealthy class largely consists of business magnates, tech industry leaders, and high-ranking government officials.

Middle-Class Growth:

Urban centers, particularly Stellis, have seen a rise in middle-class citizens, contributing to consumer spending and economic diversification.

Regional Disparities:

While urban areas enjoy greater access to services and infrastructure, rural areas have fewer economic opportunities, relying heavily on agriculture and artisanal crafts.

--scripted out poverty <333

Taxes & Tithes

Income Tax:

A progressive income tax scales from 10% to 35%, ensuring that higher earners contribute more significantly. Revenues from taxes fund public services, healthcare, and social programs.

Property Tax:

Property taxes are assessed based on land value and are used to fund local infrastructure projects. 

Trade Taxes & Tariffs:

Sales taxes on goods and services, coupled with protective tariffs, help sustain local industries, particularly in agriculture and manufacturing. A national sales tax applies to consumer goods and services, with specific tariffs on imports to protect Haiqin’s domestic industries.

Corporate Tax Incentives:

To encourage growth in key sectors, the government offers tax breaks and incentives to companies in tech and renewable energy fields, helping drive innovation and economic diversification.

Major Industries

Technology:

The tech sector is a powerhouse, with a focus on sustainable solutions, AI, and renewable energy technology. Haiqin has invested heavily in research and development, becoming known for cutting-edge advancements that are exported worldwide.

Agriculture:

Haiqin’s agriculture not only supplies its people with fresh produce but also generates export income. Farming is closely tied to cultural festivals like Iktoia, with agriculture supported by governmental subsidies and modernized techniques.

Tourism:

Festivals and natural beauty attract a steady influx of tourists, making tourism a primary economic driver. Events such as the Iktoia harvest festival, Nera Day, and Lunar Fest draw visitors year-round. The government promotes eco-tourism, highlighting Haiqin’s forests, mountains, and coastal regions.

Employment & Labor

Diverse Job Market:

The Haiqin labor market is diverse, with jobs spanning agriculture, technology, tourism, and manufacturing. The tech sector alone has led to a surge in jobs, while seasonal agricultural work remains important for rural populations.

Labor Laws & Unions:

Labor unions are active and influential, protecting fair wages and working conditions. Seasonal labor opportunities peak during harvest and festival seasons, with temporary roles often filled by students and short-term workers.

Social Safety Nets:

Haiqin’s social safety nets include universal healthcare, unemployment benefits, and retirement funds. The government aims to prevent poverty, supporting citizens in need with housing assistance, job retraining, and social programs for the elderly and disabled.

Sustainability Initiatives

Green Policies:

With eco-friendly initiatives spanning multiple sectors, Haiqin leads in sustainable agriculture, renewable energy, and waste reduction programs.

Circular Economy:

Recycling and resource-efficient production are emphasized. Industries are incentivized to minimize waste, with taxes on high-pollution businesses encouraging green alternatives.

Environmental Partnerships:

Collaboration with environmental organizations has facilitated eco-tourism and green business practices, creating jobs focused on conservation and sustainable development.

Infrastructure and Transportation

Transportation Networks: Haiqin boasts a modernized transportation system, with high-speed railways connecting major cities, public electric buses, and bike-sharing programs in urban areas. The government has invested heavily in infrastructure to reduce congestion and support eco-friendly transport.

Energy Sector: Haiqin generates most of its energy from renewable sources, including solar, wind, and hydroelectric power. Its commitment to reducing carbon emissions has led to advanced green energy technologies, some of which are exported.

[mariacallous]

On July 26, Russia’s Central Bank decided to raise the key interest rate from 16 to 18 percent. This decision was driven by unexpectedly high lending rates that previous regulatory measures had failed to curb. Russians are borrowing money and spending more, leading to a surge in prices. Inflation over the past year reached nine percent, far exceeding the government’s target of four percent. Meduza explains just how indebted Russians are and if this surge in lending is a serious issue for the authorities.

Why are Russians taking out loans?

According to Russia’s Central Bank, the volume of loans issued in the country has been steadily increasing since the spring of 2022. A few days after Russia launched its full-scale invasion of Ukraine, the bank raised its key rate to a prohibitive 20 percent, effectively halting all lending. However, it soon began bringing it back down. In April of that year, banks across the country issued loans totaling 859 billion rubles ($9.9 billion); by December, this figure had grown to two trillion ($23.1 billion).

In mid-2023, the Central Bank began raising the key rate again. Russians, realizing that loans were becoming more expensive, started applying for them sooner, causing overall loan volumes to jump to 2.4 trillion rubles ($27.8 billion) per month. This growth continued into 2024, driven by further government measures. Early this year, Russian authorities discussed curtailing preferential programs, primarily subsidized mortgages (a highly advantageous program for borrowers: while market rates were around 20 percent, the government offered loans at eight percent). Additionally, the Central Bank signaled a potential key rate increase. In response, Russians rushed to secure loans before rates increased. While the Central Bank has yet to release its official June report, analysts from Frank RG estimated that the volume of loans issued to individuals in that month increased by 13.74 percent (up 202.1 billion rubles, or $2.3 billion, compared to May 2024).

Another significant factor is income growth. Central Bank Head Elvira Nabiullina noted that people take out loans because “they’re confident in their future incomes” and feel they can “finance an improved life now.” According to Russia’s Federal State Statistics Service (Rosstat), real disposable incomes grew by more than five percent in 2023 and continued to grow in 2024. Independent analysts indirectly confirmed this, noting that consumer confidence indices are near historical highs.

The main driver of this income growth is the rapid increase in wages across many sectors of the Russian economy. As of April this year, nominal wages at large and medium-sized companies increased on average by 17 percent compared to April 2023, while real wages, adjusted for inflation, rose by 8.5 percent. Russian companies have to raise wages to attract employees as there’s a severe labor shortage in the job market.

Wages are growing fastest in industries fulfilling government defense orders. For example, in the production of “metal products” (as non-classified military goods are referred to in official statistics), wages increased by 24 percent in the span of a year. In the production of electronic products, which are also mainly supplied to the Russian army, wages rose by 28 percent.

As of May 2024, Russians owed banks more than 35.2 trillion rubles (over $408 billion). According to Meduza’s calculations, this represents an increase of nearly 22 percent in just one year. However, it’s not a record figure: in April, the amount owed was 36.6 trillion rubles ($423.6 billion). The payday loan segment grew even more rapidly, increasing by 28 percent in 2023, with Russians taking out 900 billion rubles ($10.4 billion) in loans. This growth continued into the first quarter of 2024, although the average loan amount remains around 10,000 rubles ($117).

Consumer lending has grown by 18 percent year-on-year, which economists attribute to the popularity of credit cards. Additionally, car loans have increased by 26 percent since the beginning of the year, which isn’t surprising given the record low availability of cars. Even pawnshops are showing positive trends: while there isn’t an increase in contracts, the average sum paid out gone up due to the rise in cost of precious metals.

As a result, the number of Russians with loans has reached 50 million. This is 40 percent of the country’s adult population. Over a quarter of these borrowers have more than three simultaneous loans, according to the Scoring Bureau credit history bureau. And that’s not the limit: 8.6 percent have taken out five or more loans, and the share of such debtors has doubled in two years.

One explanation is the popularity of mortgages. Eight out of 10 people with a mortgage also took out an additional loan, either for the down payment or for renovations. However, Scoring Bureau, attributes the increase to something else: the growing popularity of credit cards. In Russia, 27 million people have opened 91 million credit cards. Still, Central Bank representatives have expressed concern over the high level of indebtedness among Russians and mentioned “extreme cases,” including one person with 27 loans.

So Russians are saddled with debt?

Although more Russians are taking out loans, the average debt burden of the population — the share of household income spent on loan repayments — has remained relatively stable over the past few years. The Central Bank publishes data on this twice a year, and in the latest report from April, it noted that while the average debt burden has increased, it hovers around 11.2 percent. By comparison, in the first quarter of 2022, the average was even higher, peaking at 12.1 percent, and has since fluctuated within a two-percentage-point range. However, it’s important to note that this is an average, and some borrowers’ debt burden is significantly higher. Currently, 56 percent of borrowers in Russia have a debt burden of over 50 percent.

Another indicator of financial stability is the share of so-called bad debts — those with payments overdue by more than 90 days. In the consumer sector, this remains stable and doesn’t exceed eight percent, according to the Central Bank. According to a forecast from the ACRA rating agency, in 2024, the share of overdue debt in banks’ retail portfolios will not exceed three to four percent. The online lending service Moneyman calculated that Russians who take out payday loans actually repay their debts early in 43 percent of cases.

Frank RG analysts confirmed that the level of overdue debt and indebtedness indicators aren’t increasing. They pointed out that the ratio of the retail credit portfolio to GDP doesn’t exceed 30 percent, whereas in developed countries, the figure can reach up to 100 percent. Ivan Uklein, director of bank ratings at the Expert RA agency, believes that demographic factors alone may be driving the increase in the number of loans: in his opinion, Russia’s “boomer generation,” unaccustomed to living on credit, is starting to make way for bolder millennials

Of course, there are also skeptics. The Communist Party (KPRF) described the level of indebtedness as “catastrophic” and called for a credit amnesty for families with children. The Central Bank has identified problematic mortgage practices, with banks issuing loans to borrowers who already had a high debt burden. Kommersant reported that problematic credit card debt is at an all-time high in Russia, though the publication clarified that this growth is proportional to the increase in the number of credit cards issued. And RBC pointed to the slow but steady growth of debts involving bankrupt or deceased borrowers, where collection is impossible.

Indeed, personal bankruptcies have increased. The Center for Macroeconomic Analysis and Short-Term Forecasting predicts this trend will continue, as current rates prevent borrowers from taking out new loans to repay old ones. According to a survey by the Higher School of Economics, 70 percent of large families in Russia have loans, often can’t save money, and are sometimes forced to forgo essentials due to a lack of funds. The Federal Tax Service also reported issues, stating that 1.3 trillion rubles ($15 billion) in payments for 2023 were overdue.

Is the government worried?

The main risk lies with borrowers who have a high debt burden, those who spend 50 or even 80 percent of their salary on loan repayments. Elizaveta Danilova, the head of the Central Bank’s financial stability department, explained: “When the economy is doing well, [when] there’s work, and wages are rising, people with a high debt burden manage to cope. During crises, everything changes. We saw this during the pandemic. There were many requests for loan payment deferrals and those with the highest debt burdens and off-the-books incomes faced the greatest challenges.”

Last year, the Central Bank set limits on how much banks and payday loan organizations can lend to high-risk clients. Under the updated rules, that amount can be zero in some cases. As a result, the share of new contracts with high-risk borrowers fell to 14 percent in the first quarter of 2024, down from 36 percent in 2022. Additionally, banks must now inform such borrowers about potential risks and difficulties, even if they plan to take out less than 10,000 rubles ($117). For payday loans, the total cost of credit, including principle and interest, has been capped at 292 percent per annum.

The financial authorities claim that the current debt burden of Russians “looks acceptable.” The focus is on gradually slowing down lending: preferential mortgages ended on July 1, and market rates should deter borrowers. Developers have reported that demand for new apartments has already slowed by 14 to 30 percent. Egor Susin, the managing director at Gazprombank Private Banking, wrote that similar trends can be expected in other areas: construction plays an important role in business loans, and consumer loans were growing because people needed to cover down payments.

A survey conducted by Sravni showed that two-thirds of Russians have put off buying real estate due to the end of preferential programs. The United Credit Bureau noted a slowdown in car loans after a recent peak, which was also driven by government support measures. VTB Bank expects a decrease in demand for consumer loans, and Russian banks’ profits have been falling for the second month in a row. Meanwhile, the Russian State Duma is preparing for a possible crisis. Deputies have passed a bill that will safeguard a bankrupt individual’s only home from being seized, even if it’s mortgaged.

[ymw011]

Unveiling the Job Market: How Many Jobs Are Available in Finance Services in 2024?

In the ever-evolving landscape of finance, the job market plays a pivotal role in shaping career aspirations and industry trends. As we step into 2024, professionals and aspiring individuals  are eager to uncover the opportunities awaiting them in the realm of finance services, particularly in the United States. This article sheds light on the abundance of opportunities available in the finance services. 

Exploring the Finance Job Market Landscape:

Quantifying Opportunities:

How many jobs are available in finance in the USA?

Analyzing recent statistics and projections to gauge the scale of employment opportunities.

Factors influencing job availability, such as economic conditions, technological advancements, and regulatory changes.

Diverse Sectors, Diverse Opportunities:

Breaking down the finance sector into subcategories, including banking, investment management, insurance, and consumer services.

Highlighting the unique job prospects within each sector and the skill sets required to excel.

Identifying emerging roles and specialties that are gaining prominence in response to market demands and industry shifts.

Finance in the Digital Age:

Examining the impact of technology on job creation and the transformation of traditional finance roles.

The rise of fintech companies and their contribution to job growth, particularly in areas like digital banking, payment processing, and financial analytics.

The demand for professionals with expertise in data analysis, cybersecurity, and artificial intelligence within the finance sector.

Investment Management: A Thriving Field:

How many jobs are available in investment management?

Unveiling the job opportunities within investment firms, asset management companies, and hedge funds.

The significance of skilled portfolio managers, financial analysts, and risk assessment specialists in driving investment strategies and maximizing returns.

Exploring the global reach of investment management careers and the potential for growth in international markets.

Consumer Services: Meeting the Needs of Individuals:

Evaluating the job market within consumer-focused finance services, including retail banking, wealth management, and financial advising.

The demand for client relationship managers, financial planners, and retirement advisors in assisting individuals with their financial goals.

The role of personalized financial services and digital platforms in catering to the diverse needs of consumers and enhancing their financial literacy.

Trends Shaping the Future:

Anticipating future job trends in finance services and the skills that will be in high demand.

The growing importance of sustainable finance and environmental, social, and governance (ESG) investing, leading to opportunities in green finance and impact investing.

The influence of geopolitical factors, regulatory reforms, and demographic shifts on the finance job market landscape.

Conclusion:

As we go through 2024, the finance job market in the United States continues to offer a lot of opportunities across various sectors. Whether aspiring to go into investment management, consumer services, or the dynamic world of fintech, individuals with the right skills and expertise are well-positioned to thrive in this ever-evolving industry. By staying abreast with market trends, honing relevant skills, and embracing innovation, professionals can seize the abundant opportunities awaiting them in the realm of finance services.

[kitty-pelosi]

leftists have gotta be a bit more diligent about understanding the economic system we are criticizing. because while yes, irrational greed and lust for growth permeate capitalism wholly, there are structural material explanations for this behavior as well that illuminate more contradictions within the system as a whole which will give you a more grounded foundation to participate in conversation

businesses do not seek constant growth because of surface level ideological notions that are irrational - they seek constant growth because the international financial system of capital punishes entities that do not behave this way.

take for example the entire tech industry in America. it emerges at a time where banks are granting loans with extremely low interest rates. this allowed companies like Uber, Doordash, Facebook, etc to emerge as market disrupters operating at a loss. essentially, banks and venture capitalists gave money to tech industrialists for free (well on loan, but you can’t collect if the venture fails), speculating that these industrialists could use that money during an economic boom cycle to establish infrastructure that may or may not have value in the future. it’s like a bet. all of these companies failed to be profitable at the beginning. but, when a billion people then use Facebook, advertisers see a market and a relationship between two industrial sectors began, now data collection, AdSense, and similar services are a multi billion dollar industry. or Uber - they took loans to operate at a loss in their formative years, charging incredibly low prices for private transport that undercut the existing taxi industry. they were not profitable nor did they have a path toward being profitable UNTIL they were able to secure a significant enough share of the taxi ride market that they were a competitor (using loan-backed funding to subsidize low prices to secure that position) . and then, once they have enough recognition and market capture, they change the pricing structure toward one that actually produces a profit. this is done after taxi companies go bankrupt and consumers have no other choice, securing Uber’s future profits.

back to constant growth. the reason a business is in need of exponential profit is because they require investment. they need revenue to operate, but also an initial amount of cash to establish their existence. it costs money upfront to make a company. a loan from a bank, selling shares to investors, etc.

NOW. inflation is a constant financial force with time, and this is the motivator - every year, the exchange value of $1 is worth less and less. using money as Power, quite literally $1,000,000 in 2015 is More Powerful than $1,000,000 in 2024. inflation, interest rates, and banking regulations are determined by the government. Loans are determined by banks, and investors buy stock depending on how liquid they are (cash flow). these are the tools of government and capital in their control of the proletarian and petty bourgeois classes. this entire scheme serves to clamp down on entities that try to find a niche in the market and serve it in a static way, for example - publicly funded services. see where I am going?

so, when periods of economic depression occur such as the one we are all in presently, the government increases interest rates and banks become more withholding about loans. this is why tech laid everyone off last fall, they no longer have the milk coming in to support the fat. they are encouraged to focus solely on profitability. the time to collect has come and we are seeing if investor speculation works in their favor or not. this explains layoffs, enshittification of web services, etc. banks and the government have signaled that the time for experimentation and speculation is over, and that raw value must be realized.

in America, coupled with 501(c) laws, this serves to terminate entities that serve a market while paying their employees fairly and not really making a profit. taxes, inflation, and loans are the sword the powerful use to cut down co-ops and worker owned enterprises. In this way, the government has monopolized the concept of a service that does not generate a profit. they have structurally eliminated the ability for entities that are not the government to do this. or at least, rendered it almost impossible.

it’s not just mouth breathing upper middle class folks being greedy, or an evil cabal of venture capitalists looking for profit. it IS those things, but there is an actual system at play enforcing this structure and it’s extremely important to be aware of it, otherwise you aren’t going to be able to effectively critique and combat it. otherwise, you’re just shouting at a cloud about greedy men. and that’s not going to produce a just revolution, just a force that seeks retribution.

Growth capitalism is a deranged fantasy for lunatics.

Year 1, your business makes a million dollars in profit. Great start!

Year 2, you make another million. Oh no! Your business is failing because you didn't make more than last year!

Okay, say year 2 you make $2 mil. Now you're profitable!

Then year 3 you make $3 mil. Oh no! Your business is failing! But wait, you made more money than last year right? Sure, but you didn't make ENOUGH more than last year so actually your business is actively tanking! Time to sell off shares and dismantle it for parts! You should have made $4 mil in profit to be profitable, you fool!

If you're not making more money every year by an ever-increasing exponent, the business is failing!

Absolute degenerate LUNACY

[mostlysignssomeportents]

Denise Hearn and Vass Bednar’s “The Big Fix”

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/12/05/ted-rogers-is-a-dope/#galen-weston-is-even-worse

The Canadian national identity involves a lot of sneering at the US, but when it comes to oligarchy, Canada makes America look positively amateurish.

If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/12/05/ted-rogers-is-a-dope/#galen-weston-is-even-worse

Canada's monopolists may be big fish in a small pond, but holy moly are they big, compared to the size of that pond. In their new book, The Big Fix: How Companies Capture Markets and Harm Canadians, Denise Hearn and Vass Bednar lay bare the price-gouging, policy-corrupting ripoff machines that run the Great White North:

https://sutherlandhousebooks.com/product/the-big-fix/

From telecoms to groceries to pharmacies to the resource sector, Canada is a playground for a handful of supremely powerful men from dynastic families, who have bought their way to dominance, consuming small businesses by the hundreds and periodically merging with one another.

Hearn and Bednar tell this story and explain all the ways that Canadian firms use their market power to reduce quality, raise prices, abuse workers and starve suppliers, even as they capture the government and the regulators who are supposed to be overseeing them.

The odd thing is that Canada has been in the antitrust game for a long time: Canada passed its first antitrust law in 1889, a year before the USA got around to inaugurating its trustbusting era with the passage of the Sherman Act. But despite this early start, Canada's ultra-rich have successfully used the threat of American corporate juggernauts to defend the idea of Made-in-Canada monopolies, as homegrown King Kongs that will keep the nation safe from Yankee Godzillas.

Canada's Competition Bureau is underfunded and underpowered. In its entire history, the agency has never prevented a merger – not even once. This set the stage for Canada's dominant businesses to become many-tentacled conglomerates, like Canadian Tire, which owns Mark's Work Warehouse, Helly Hansen, SportChek, Nevada Bob's Golf, The Fitness Source, Party City, and, of course, a bank.

A surprising number of Canadian conglomerates end up turning into banks: Loblaw has a bank. So does Rogers. Why do these corrupt, price-gouging companies all go into "financial services?" As Hearn and Bednar explain, owning a bank is the key to financialization, with the company's finances disappearing into a black box that absorbs taxation attempts and liabilities like a black hole eating a solar system.

Of course, the neat packaging up of vast swathes of Canada's economy into these financialized and inscrutable mega-firms makes them awfully convenient acquisition targets for US and offshore private equity firms. When the Competition Bureau (inevitably) fails to block those acquisitions, whole chunks of the Canadian economy disappear into foreign hands.

This is a short book, but it's packed with a lot of easily digested detail about how these scams work: how monopolies use cross-subsidies (when one profitable business is used to prop up an unprofitable business in order to kill potential competitors) and market power to rip Canadians off and screw workers.

But the title of the book is The Big Fix, so it's not all doom and gloom. Hearn and Bednar note that Canadians and their elected reps are getting sick of this shit, and a bill to substantially beefed up Canadian competition law passed Parliament unanimously last year.

This is part of a wave of antitrust fever that's sweeping the world's governments, notably the US under Biden, where antitrust enforcers did more in the past four years than their predecessors accomplished over the previous 40 years.

Hearn and Bednar propose a follow-on agenda for Canadian lawmakers and bureaucrats: they call for a "whole of government" approach to dismantling Canada's monopolies, whereby each ministry would be charged with combing through its enabling legislation to find latent powers that could be mobilized against monopolies, and then using those powers.

The authors freely admit that this is an American import, modeled on Biden's July 2021 Executive Order on monopolies, which set out 72 action items for different parts of the administration, virtually all of which were accomplished:

https://www.eff.org/deeplinks/2021/08/party-its-1979-og-antitrust-back-baby

What the authors don't mention is that this plan was actually cooked up by a Canadian: Columbia law professor Tim Wu, who served in the White House as Biden's tech antitrust czar, and who grew up in Toronto (we've known each other since elementary school!).

Wu's plan has been field tested. It worked. It was exciting and effective. There's something weirdly fitting about finding the answer to Canada's monopoly problems coming from America, but only because a Canadian had to go there to find a receptive audience for it.

The Big Fix is a fantastic primer on the uniquely Canadian monopoly problem, a fast read that transcends being a mere economics primer or history lesson. It's a book that will fire you up, make you angry, make you determined, and explain what comes next.

[anushapranu]

🚀 𝐈𝐧𝐬𝐭𝐚𝐧𝐭 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬: 𝐏𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐭𝐡𝐞 𝐍𝐞𝐱𝐭 𝐖𝐚𝐯𝐞 𝐨𝐟 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐈𝐧𝐧𝐨𝐯𝐚𝐭𝐢𝐨𝐧

 Instant Payments Market Size Projection (2025-2030)

The forecast for the Instant Payments Market indicates a substantial growth trajectory, with an estimated increase from USD 25.27 billion in 2024 to approximately USD 36.27 billion by 2030. This development is underpinned by a healthy Compound Annual Growth Rate (CAGR) of 5.3% spanning from 2025 to 2030. Key drivers fueling this expansion include the widespread adoption of smartphones, enhanced accessibility to high-speed internet, and the ongoing digitization trends.

➡️ 𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞: @ https://tinyurl.com/mud9c9pe

Overview of the Instant Payments Market:

Instant payments represent digital retail transactions processed instantaneously, operating 24/7, 365 days a year, facilitating immediate availability of funds to the recipient. This technology holds promise in fortifying financial infrastructure for the digital era. By leveraging instant payments, financial institutions can streamline online payment experiences, enhancing efficiency. Notably, this technology bolsters consumer privacy by eliminating the necessity to share bank details for transactions, requiring only email addresses or phone numbers. Consequently, this minimizes the risk of data breaches, given the ubiquity of mobile devices among both consumers and merchants. Encouraging the adoption of immediate payment services, particularly through peer-to-peer (P2P) platforms, presents a strategic avenue for broader acceptance across various markets.

To remain competitive with card schemes, instant payment providers must prioritize the implementation of cross-border transaction capabilities. Nations endeavoring to establish their instant payments networks stand to benefit from studying successful models and fostering cross-border collaborations. Advancements in digital technologies and the burgeoning internet user base have spurred the adoption of online payment gateways for instantaneous bank transfers globally. Moreover, rising living standards and heightened consumerism in emerging economies have further fueled demand for diverse online payment solutions, consequently propelling the global instant payments market.

Impact of COVID-19 on the Instant Payments Market:

The COVID-19 pandemic exerted a significant impact on the real-time payments landscape, precipitating heightened utilization and adoption of online and digitized payment methods worldwide. Notably, financial institutions and retailers responded to pandemic-induced concerns by raising transaction limits on real-time payments, facilitating seamless transactions without physical contact. This response emerged as a key growth catalyst for the real-time payments market amid the global health crisis. Since 2021, the pandemic has accelerated the adoption of digital payment solutions to unprecedented levels.

Market Drivers:

The Escalating Adoption of Smartphones and High-Speed Internet Access:

The proliferation of smartphones, particularly in regions like Canada, China, and India, coupled with expanded access to 3G and 4G connectivity, has significantly augmented the user-friendly accessibility of routine payments via mobile devices. This surge in smartphone usage, alongside improved connectivity, has empowered both merchants and consumers to execute real-time payments seamlessly, thereby propelling market growth.

➡️ 𝐁𝐮𝐲 𝐍𝐨𝐰 @ https://tinyurl.com/596nzzje

Rapid Digitalization in the Payments Sector:

The payments sector has witnessed rapid digitalization, notably catalyzed by the pandemic, resulting in a substantial uptick in online payment transactions. Consumers increasingly favor digital payment modes over cash transactions, further driving market growth. Additionally, the introduction of real-time payment solutions has enabled merchants to deploy secure scanning mechanisms for consumer transactions, effectively mitigating fraud risks.

Market Restraints:

The Surge in Data Breaches and Security Concerns:

While innovations in payment systems offer enhanced convenience and benefits, the proliferation of data breaches has emerged as a significant impediment to market growth. Customer reluctance to embrace payment systems stems from concerns regarding the security of transactions, fearing potential monetary losses due to inadequate safeguards against data breaches or transactional errors.

Instant Payments Market - By Platform Type:

Subscription-Based

Complimentary

A subscription-based platform entails a nominal fee per transaction, while a complimentary platform permits money transfers without additional charges. Within this categorization, the primary revenue generator is the subscription-based platform. Consequently, the market predominantly favors users employing subscription-based platforms for instant payments over complimentary ones. Intriguingly, although subscription-based platforms boast the largest user base, the most rapidly expanding sector is the complimentary platform. This suggests a growing inclination towards complimentary platforms for instant payments, signifying a shift in transactional preferences among users.

Instant Payments Market - By Application:

Business-to-Business (B2B)

Business-to-Consumer (B2C)

Peer-to-Peer (P2P)

Online-to-Offline (O2O)

Consumer-to-Consumer (C2C)

Peer-to-Peer (P2P) transactions command the largest market share, exerting dominance in this segment. This dominance stems from the extensive usage of instant payments for personal transactions, including transfers to friends, family, or individual transactions. The fastest-growing segment within this classification is Business-to-Business (B2B), indicating an increasing adoption of instant payment methods among various businesses to streamline their transactions. It's evident that instant payments not only facilitate personal transactions but also serve as a crucial component in businesses' financial operations.

Instant Payments Market - By Region:

North America

Europe

Asia-Pacific

Latin America

The Middle East

Africa

Geographically, the Asia-Pacific region leads in the adoption of instant payment transactions, followed by Europe, Latin America, North America, and the Middle East and Africa. Previously, Asia-Pacific was the sole region with transaction volumes exceeding 56 billion in 2020. Both India and China account for over 70% of global instant payment transaction volumes.

North America is projected to experience steady growth throughout the forecast period, housing several prominent players in the global market. The increasing number of immigrants in North American countries like the U.S. and Canada is expected to expand cross-border disbursements, thereby fueling market growth. Continued digitization and rapid economic development are among the key factors expected to drive growth in the North American regional market.

➡️ Enquire Before Buying @ https://tinyurl.com/44ywy3x7

Instant Payments Market Share by Company:

ACI Worldwide

Fidelity National Information Services

Finastra

Fiserv, Inc.

Mastercard

Montrn Corp

PayPal Holdings

Temenos AG

Visa Inc.

Volante Technologies Inc.

Wirecard AG

Worldplay, Inc.

Mergers and acquisitions within the industry have enabled companies to diversify and enhance their service offerings.

Recently, Vocalink revamped its services, introducing features such as instant money transfer, self-transfer, and other operations catering to Business-to-Business (B2B), Business-to-Consumer (B2C), and Peer-to-Peer (P2P) transactions, which have bolstered the sales of instant payment platforms.

The market exhibits high fragmentation, with prominent players employing various strategies such as strategic partnerships, product innovations, research and development initiatives, geographical expansions, and mergers and acquisitions to bolster their market presence. There is a notable focus on providing both cloud-based and on-premise options to large enterprises, enabling efficient and timely money transfers. Vendors also prioritize expanding their product portfolios to enhance the overall consumer experience.

RECENT NOTABLE EVENTS IN THE GLOBAL INSTANT PAYMENTS MARKET:

Product Launch - In April 2024, Fiserv unveiled Appmarket, a platform for financial institutions offering access to a curated selection of fintech solutions, aimed at enhancing operational efficiency, expanding customer reach, and improving competitiveness.

[dreaminginthedeepsouth]

Pat Bagley, Salt Lake Tribune

* * * *

LETTERS FROM AN AMERICAN

January 19, 2024

HEATHER COX RICHARDSON

JAN 19, 2024

President Joe Biden today signed the continuing resolution that will keep the government operating into March.

Meanwhile, the stock market roared as two of the three major indexes hit new record highs. The S&P 500, which measures the value of 500 of the largest companies in the country, and the Dow Jones Industrial Average, which does the same for 30 companies considered to be industry leaders, both rose to all-time highs. The third major index, the Nasdaq Composite, which is weighted toward technology stocks, did not hit a record high, although its 1.7% jump was higher than that of the S&P 500 (1.2%) or the Dow (1.1%).

Investors appear to be buoyed by the fact the rate of inflation has come down in the U.S. and by news that consumers are feeling better about the economy. A report out today by Goldman Sachs Economics Research noted that consumer spending is strong and predicted that “job gains, positive real wage growth, will lead to around 3% real disposable income growth” and that “household balance sheets have strengthened.” It also noted that “[t]he US has led the way on disinflation,” and it predicted further drops in 2024. That will likely mean the sort of interest rate cuts the stock market likes. 

The economic policies of the Biden-Harris administration have also benefited workers. The unemployment rate has been under 4% for more than two years, and wages have risen higher than inflation in that same period. Production is up as well, to 4.9% in the third quarter of 2023 (the U.S. growth rate under Trump even before the pandemic was 2.5%). 

The administration has worked to end some of the most obvious financial inequities in the U.S., such as the unexpected “junk fees” tacked on to airline or concert tickets, or to car or apartment rentals. On Wednesday the Consumer Financial Protection Bureau announced a proposed rule for bank overdraft fees at banks that have more than $10 billion in assets. 

While banks now can charge what they wish if a customer’s balance falls below zero, the proposed rule would allow them to charge no more than what it cost them to break even on providing overdraft services or, alternatively, an industry-wide fee that reflects the amount it costs to deal with overdrafts: $3, $6, $7, or $14. The amount will be established after a public hearing period.

Ken Sweet and Cora Lewis of the Associated Press note that while the average overdraft is $26.61, some banks charge as much as $39 per overdraft. The CFPB estimates that in the past 20 years, banks have collected more than $280 billion in overdraft fees. (One bank’s chief executive officer named his boat “Overdraft.”) Over the past two years, pressure has made banks cut back on their fees and they now take in about $8 billion a year from those overdraft fees. 

Bankers say regulation is unnecessary and will force them to end the overdraft service, pushing people out of the banking system. Biden said that the rule would save U.S. families $3.5 billion annually. 

The administration has also addressed the student loan crisis by reexamining the loan histories of student borrowers. An NPR investigation led by Cory Turner revealed that banks mismanaged loans, denying borrowers the terms under which they had signed on to them. Rather than honoring the government’s promise that so long as a borrower paid what the government thought was reasonable on a loan for 20 or 25 years (undergrad or graduate), the debt would be forgiven, banks urged borrowers to put the loan into “forbearance,” under which payments paused but the debt continued to accrue interest, making the amount balloon. 

The Education Department has been reexamining all those old loans to find this sort of mismanagement as well as other problems, like borrowers not getting credit for payments to count toward their 20 years of payments, or borrowers who chose public service not receiving the debt relief they were promised.

Today the administration announced $4.9 billion of student debt cancellation for almost 74,000 borrowers. That brings the total of borrowers whose debt has been canceled to 3.7 million Americans, with an erasure of $136.6 billion. Nearly 30,000 of today’s relieved borrowers had been in repayment for at least 20 years but never got the relief they should have; nearly 44,000 had earned debt forgiveness after 10 years of public service as teachers, nurses, and firefighters.

Biden has been traveling the country recently, touting how the economic policies of the Biden-Harris administration have benefited ordinary Americans. In Emmaus, Pennsylvania, last Friday he visited a bicycle shop, a running shoe store, and a coffee shop to emphasize how small businesses are booming under his administration: in the three years since he took office, there have been 16 million applications to start new businesses, the highest number on record.

Biden was in Raleigh, North Carolina, yesterday to announce another $82 million in support for broadband access, bringing the total of government infrastructure funding in North Carolina during the Biden administration to $3 billion.  

On social media, the administration compared its investments in the American people to those of President Franklin Delano Roosevelt’s New Deal in the 1930s, which were enormously popular. 

They were popular, that is, until those opposed to business regulation convinced white voters that the government’s protection of civil rights, which came along with its protection of ordinary Americans through regulation of business, provision of a basic social safety net, and promotion of infrastructure, meant redistribution of white tax dollars to undeserving Black people.

The same effort to make sure that ordinary Americans don’t work together to restore basic fairness in the economy and rights in society is visible now in the attempt to attribute a recent Boeing airplane malfunction, in which a door panel blew off mid-flight, to diversity, equity, and inclusion (DEI) efforts. Tesnim Zekeria at Popular Information yesterday chronicled how that accusation spread across the right-wing ecosystem and onto the Fox News Channel, where Fox Business host Sean Duffy warned: “This is a dangerous business when you’re focused on DEI and maybe less focused on engineering and safety.” 

As Zekeria explains, “this narrative has no basis in fact.” Neither Boeing nor its supplier, Spirit AeroSystems, is particularly diverse, either at the workforce level, where minorities make up 35% of Boeing employees and 26% of those at Spirit AeroSystems, or on the corporate ladder, where the overwhelming majority of executives are white men. Zekeria notes that right-wing media figures have also erroneously blamed last year’s train derailment in Ohio and the collapse of the Silicon Valley Bank on DEI initiatives.

The real culprit at Boeing, Zekeria suggests, was the weakened regulations on Boeing and Spirit thanks to more than $65 million in lobbying efforts.

Perhaps an even more transparent attempt to keep ordinary Americans from working together is the attacks former Fox News Channel personality Tucker Carlson has launched against Vice President Kamala Harris, calling her “a member of the new master race” who “must be shown maximum respect at all times, no matter what she says or does.” Philip Bump of the Washington Post noted yesterday that this construction suggests that Harris, who identifies as both Black and Indian, represents all nonwhite Americans as a united force opposed to white Americans. 

But Harris’s actions actually represent something else altogether. She has crossed the country since June 2022, when the Supreme Court overturned the 1973 Roe v. Wade decision that recognized the constitutional right to abortion, talking about the right of all Americans to bodily autonomy. That the Supreme Court felt able to take away a constitutional right has worried many Americans about what they might do next, and people all over the country have been coming together in opposition to the small minority that appears to have taken over the levers of our democracy. 

Driving the wedge of racism into that majority coalition seems to be a desperate attempt to stop ordinary Americans from taking back control of the country.  

LETTERS FROM AN AMERICAN

HEATHER COX RICHARDSON

[junfoong]

🧠 WEEK 7: Yasss, Queen. That fit slayyy

ok look, hear me out... I know that thrifting is cute and I love a good ootd moment but this topic had me questioning about my shopping habits. It's more of a whether it's "sustainable or if I'm just romanticising my Depop addiction. 🤤

Well, it was not supposed to be a guilt trip about fast fashion although I'll have to admit the status were a bit of an alarming and terrifying... It was about how we engage with the world through the things we support, share, and consume; it's not just about voting or denouncing online bullies. Apparently, there is a global environmental catastrophe even affecting that $5 tank top I purchased "just for layering." Wow , isn't it fun... ☺️

We discussed how ethical involvement, community values, and, in this case, the use of social media to advocate for change are all aspects of digital citizenship. Venetia La Manna and Tiffany Ferguson are two fashion influencers that are genuinely using their platforms to highlight the negative aspects of fast fashion and educate the public about sustainability. It's donating: ✨activist posts ✨on Instagram.

I mean, I knew fast fashion was bad, but reading the actual stats... That hits different :

10% of the world's carbon emissions come from this business.

It causes 20% of the global water pollution (yikes)

Approximately 8.2 million tons of garments are discarded in the landfills annually according to Statista, 2022; Brewer, 2019

I mean well , that's not set in stone...

At this point, where does digital citizenship fit into this picture???

It's about using technology "responsibly and positively," according to the eSafety Commissioner (2022). Additionally, that covers the content we decide to approve of, repost, or remove. Posting your secondhand clothing, following a slow fashion creator, or sharing an infographic are all examples of micro-acts of participation. While they don't provide a solution for every problem, they do indicate something.

It's crucial to keep in mind, though, that not everyone can afford to purchase sustainably, and that doesn't make someone a bad citizen. Though it's not always available, slow fashion is fantastic. Recognising these gaps and filling them without stifling the movement are other aspects of digital citizenship.

Anyways , for the sake of the earth, I'll be wearing the same shirt for the remainder of the semester , just like the cartoon characters ✊🌱

References : 

Topic: Banking industry in Indonesia. (2024). Statista. https://www.statista.com/topics/9658/apparel-market-worldwide/

Pookulangara, S., & Shephard, A. (2013). Slow Fashion Movement: Understanding Consumer Perceptions—An Exploratory Study. Journal of Retailing and Consumer Services, 20(2), 200–206. https://doi.org/10.1016/j.jretconser.2012.12.002

McKinsey & Company. (2024, November 11). The State of Fashion 2025: Challenges at Every Turn. The Business of Fashion. https://www.businessoffashion.com/reports/news-analysis/the-state-of-fashion-2025-bof-mckinsey-report/

Maiti, R. (2025, January 20). The Environmental Impact of Fast Fashion, Explained. Earth.org. https://earth.org/fast-fashions-detrimental-effect-on-the-environment/

[allthebrazilianpolitics]

Generative AI reshapes banks’ relationships with customers in Brazil

Services are becoming faster and more precise through hyper-personalization, delivering solutions better tailored to each consumer’s needs

Generative artificial intelligence is beginning to redefine Brazil’s financial sector. The model of banking that prevailed in 2024 already feels outdated, as made clear over three days at Web Summit Rio, where the transformative role of AI in finance took center stage.

Today, generative AI is delivering faster, more precise services, with solutions tailored to each user’s individual needs. Hyper-personalization and customer empowerment were recurring themes across the event’s many stages, which drew more than 34,000 attendees.

The audience heard firsthand about PicPay’s 60 million Brazilian Social Security number (CPF) holders, who now transfer money between accounts at different banks using simple voice commands—even while driving, as one example highlighted. They also learned about NG Cash, a digital bank tailored to Generation Z, where roughly 90% of customer service inquiries are handled by virtual assistants, far above the market average of around 50%.

The technology is also gaining traction among Brazil’s traditional banking giants. Caixa Econômica Federal will launch a service station at COP30 in Belém, featuring real-time translation from Indigenous languages into Portuguese to reduce the communication barriers that often prevent transactions from being completed. Meanwhile, Itaú is set to deploy AI-powered investment agents in the first half of this year, expanding the initiative through 2025. According to CEO Milton Maluhy Filho, more than 70 million customers will gain access to services that were previously reserved for large corporate clients.

Continue reading.