#financial crisis in india

[kamana-mishra]

Financial Crisis 2008: Causes, Cost and the After Effect

The gold prices are falling, and the markets are crashing! While the statement is absolutely unreal, just the thought of it would have been enough to give you a heart attack, wouldn’t it? We would prefer to be destroyed by the snap of Thanos than get stuck in such a situation, right?

Would you believe if someone were to say that a similar situation challenged some of the top global economies in 2008? Yes, we are talking about the financial crisis of 2008, an event which took the financial system of America and other major economies by storm, sparing none.

The recent economic crisis caused by the COVID-19 pandemic, brought the topic back to discussions, with major economists and professionals comparing the current scene with the financial crisis 2008. Hence, navigating through the various reasons and aftermath effects triggered by the financial crisis becomes crucial and demanding.

The Start of the Grave Fall

Loans are a crucial part of any financial system. However, you need a specific credit rating to acquire them. As far as India is concerned, you need a CIBIL score of 700 or more to get your loan sanctioned without any hassle. Similarly, in the USA, you need a FICO rating of more than 640 to acquire a loan. So, what was the problem here?

The problem started with the action of subprime loans. The US banks came up with the idea of lending housing loans to those individuals whose ratings were below the benchmark rating of 640. However, to compensate for the risk taken, they charged a higher rate of interest. These loans were then bundled with good ones and were issued as mortgage-backed securities (MBS). To be precise, it’s like mixing good vegetables with rotten ones.

Rating agencies like MOODY’S rated them with a AAA, which ultimately made them an attractive investment for investors who assumed it to be free from the risk of default. Further, the housing sector was at its peak during early 2005, making investors move huge amounts of money into these derivatives. This included a large number of banks, private lending institutions and other worldwide financial institutions investing in them.

Hedge funds institutions, mutual fund companies and various other pension fund institutions also invested in these swaps. And the ownership of houses rose to more than 69%. However, no one could predict that great destruction was in process.

What was the cause of the 2008 financial crisis?

As banks could pass on the risk to the investors, they were happily sanctioning loans to people without proper documentation and adequate ratings. No one is worried about the consequences. While all seemed like rainbows and unicorns for a while, soon, reality demanded its way back.

The prices of the housing sector saw a fall at the beginning of 2005, and the banks witnessed a lot of their borrowers defaulting on their repayment.

Would you give poison to an already dying person? But what the banks did was something like that. Rather than coming up with some reliable solution, they decided to increase the interest rates further. They thought that they could offset the losses by charging higher rates on the ones that make regular payments or at least make a conscious effort to pay. The rates were increased from 2.25% to 5.25%. Burdened by massive interest rates, the defaults only increased.

While the banks promised safety and security with a higher return, their action did not project the same. And by the end of 2007, the American economy officially entered the recession.

The Domino Effect

The books of the banks showed huge lending and falling repayment. Following this, the banks witnessed a severe liquidity crunch, and a lot of them filed for bankruptcy. As the fear brewed up, the banks stopped lending to one another, thus affecting the interbank money market.

They all searched for funds outside, and the Northern Bank of London came to their rescue. But it did not last long as the bank was nationalized by the British government, chopping off the help offered.

This caused the collapse of some of the major financial institutions on Wall Street. The Swiss bank UBS was one of the first to declare bankruptcy and showed a loss of more than 3 billion dollars. The lack of liquidity and huge losses pushed Bear Stearns, Fannie Mae and Freddie Mac to the edge of the cliff. However, the government of America was swift and rescued them from the brink of death.

Following this, the Lehman Brothers declared bankruptcy, leaving the stock markets to fall drastically. For investors who believed that the US government would rescue them, it was nothing more than a false belief.

The crisis kick-started with investors selling their stakes in huge amounts. And by the end of 2008, the entire financial system of America was in utter chaos.

Cost of the 2008 Financial Crisis

The financial crisis of 2008, as expected, affected everything that was even remotely dependent upon the US economy. The financial crisis of 2008, caused the US economy roughly around $22.8 trillion. In other words, it was approximately $72000 per American citizen. It’s impacted the output of the country by $13 trillion. The country lost about $5 trillion in terms of GDP over the next few years.

About 20 million people were affected directly or indirectly by the crisis. British banks lost approximately £90 billion in just a single day. And the ill effects can be added to this list. Hence, the government was forced to interfere in the matter and to sort the situation out. Want to know how the American government reacted? Read further to find out.

The Troubled Asset Relief Program

The American treasury came forward to address the crisis. They did this by purchasing mortgage-backed security (MBS) from the companies, in a view to reduce their losses. Drafted by Henry Paulson and brought into effect by George W. Bush, the plan aimed to stabilize the money market and secondary market by injecting liquidity into the system.

The program spent more than $247 billion to stabilize the banking systems. They bought shares of JP Morgan, Citi Group, and Wells Fargo at an interest of 5%. Also, $79.2 billion was spent on bailing out the auto sector, whose stock went on a free fall, and $67.8 billion was spent on nationalizing the AIG sector.

The policy did a huge deal in reducing the burden that was placed on the economy. However critics still argue about its efficiency and claim that it failed to shed light upon the housing sector.

Continue reading…

[newspatron]

Unhappy Youth? 7 Ways to Improve Mental Health in India

What are your thoughts on mental health challenges faced by youth in India? Share your experiences and insights in the comments below!

[uniqueeval]

The Hindu Morning Digest: August 30, 2024

People Liberation Army (PLA) soldiers and tanks during military disengagement along the Line of Actual Control (LAC) at the India-China border in Ladakh. | Photo Credit: AFP India, China hold 31st border affairs meeting to resolve standoff at LAC India and China had a “frank, constructive and forward-looking exchange of views” on the situation along the Line of Actual Control (LAC) to “narrow…

[newsvistaarblog]

अमेरिका ने श्रीलंका बंदरगाह पर अदानी टर्मिनल परियोजना के लिए $553 मिलियन की प्रतिबद्धता जताई

Written By Shafeek Ahmad, Published On 08-November-2023, 10:00 IST. यूएस इंटरनेशनल डेवलपमेंट फाइनेंस कॉरपोरेशन (DFC) ने श्रीलंका में कोलंबो बंदरगाह टर्मिनल परियोजना का समर्थन करने के लिए $553 मिलियन की महत्वपूर्ण वित्तीय प्रतिबद्धता की घोषणा की है। यह पहल विशेष रूप से उल्लेखनीय है क्योंकि यह बंदरगाह क्षेत्र में किसी भारतीय कंपनी, अदानी समूह की पहली भागीदारी का प्रतीक है। यह विकास एक महत्वपूर्ण…

[multithinker]

Ghana's Economic Challenges: Assessing Debt, Foreign Aid, Currency, and Inflation under President Akufo-Addo

Introduction Ghana, a nation celebrated for its rich cultural heritage and economic potential, has encountered a series of economic hurdles during President Nana Addo Dankwa Akufo-Addo’s term in office. While his administration has seen notable achievements, including efforts to combat corruption and enhance infrastructure, concerns have arisen regarding Ghana’s economic performance. In this…

[alsoknownashp]

Global financial crisis and its impact on the Indian economy

The world's major economies are beginning to slow down, and in the past, similar levels of inflation and market stress have predicted a global recession. 

Hearing about decreased GDP, rising costs, and international upheaval can be frightful. While the situation has become urgent in several of the economies around the world, it is not as bad in India. 

High Real Growth, Far From Recession

According to the Indian Economic Survey 2022–23, India is expected to experience real growth of 6–6,8% in FY24 despite the uncertainty in western countries. Although this is less than FY23's (estimated at 7%) and FY22's (9.1%), the impact of the two shocks—the conflict in the Russian-Ukraine and inflation-control measures—should not be ignored. India will have one of the fastest-growing big economies in the world, even at 6%. 

More Dependence on Internal Consumption Rather than Exports

Since just 5% of India's GDP comes from exports to other countries, the effects of a slowdown in the economy of western nations are not as severe. Due to the diverse nature of its exports—both in terms of geography and the goods/services it offers—India's economy is further protected, making it less susceptible to concentrated economic shocks. 

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[probablyasocialecologist]

For the third year in a row, global hunger is stuck at catastrophically high levels. Progress on the global hunger crisis has stagnated following a sharp deterioration between 2019 and 2021. 733 million people continue to face hunger today. This is 36% higher than a decade ago. 2.33 billion people – nearly 30% of the world – continue to be moderately or severely food insecure. While about 2.8 billion – one third of people in the world – are unable to access a healthy nutritious diet. The world is far off track to achieve the zero hunger goal or any of the seven global nutrition targets by 2030 – without major changes to food systems. This is not a blip, and can no longer just be blamed on the pandemic. This is an ever-clearer signal that the global industrial food system is failing, and is disastrously vulnerable to increasing climate, hunger, conflict and financial shocks. We need a food system transformation to tackle the new normal of hunger. Climate change was the most prevalent driver of food insecurity and malnutrition in 2023. The major drivers of hunger – conflict, climate change and economic shocks – are occurring more often and at higher intensity, resulting in increasing numbers of hungry and food-insecure people. Already this year we’ve seen climate shocks devastate staple food production in Brazil, Mexico, China and India, with studies linking higher temperatures with increased food prices. Building climate resilient food systems is literally a matter of life and death — and must be an urgent priority globally. This means more diversified and localized production and food chains, instead of global industrial food chains.

24 July 2024

[metamatar]

india's hindutva middle class is having a meltdown because the new budget upped capital gains taxes and reduced income taxes. tbf they reduced corporate taxes as well so this isn't income redistribution or anything, but this is perceived as an attack by one of modi's strongest voter bases

The budget increased tax on long-term capital gains on all financial and non-financial assets to 12.5% from 10%. Assets held for over a year are considered long term.

Short-term capital gains will now be taxed at 20% instead of 15%.

The budget has also increased the securities transaction tax on derivatives trading.

This was widely expected, with the Economic Survey released a day earlier raising red flags about rising speculation and growing participation of retail investors in Indian equity markets.

[mariacallous]

Reflecting the instincts of a cold war veteran, Joe Biden’s strategy was familiar: contain the conflict. When the US president spoke in Warsaw in March 2022, a month after Russia’s full-scale invasion of Ukraine, he drew a red line at Vladimir Putin’s toes. “Don’t even think about moving on one single inch of Nato territory,” he warned.

The western allies would provide weapons and aid to Kyiv, impose sweeping economic and financial sanctions on Moscow and reduce the rouble to “rubble”, Biden vowed. Though not a Nato member, the US would help Ukraine win this symbolic battle for freedom and democracy. But it would not directly confront Russia unless Russia first attacked Nato.

Thirty months on, Biden’s containment strategy is failing miserably. Like an untreated cancer, Ukraine’s crisis metastasises uncontrollably. Far from being confined to the mud and ice of the Donbas, the war’s spreading, toxic fallout grows more globally destructive by the day. It contaminates and blights everything it touches. True, a “hot” war between Russia and Nato has been avoided so far. Yet Polish and Romanian territory has been affected by stray missiles and maritime attacks. The entire Black Sea region is embroiled, as is Belarus. Putin claims that the west is already waging war on Russia and threatens it with nuclear weapons. Propagandists vow to vaporise Poland.

The crisis has triggered US-Europe splits in Nato and within the EU. Rows flare over sending troops and long-range missiles to Ukraine, inviting Kyiv to join the alliance, and forging a separate European “defence identity”. France’s newly hawkish stance is cancelled out by German caution.

Neutral Sweden and Finland were panicked into joining Nato. The Baltic republics fear renewed Russian aggression. Hungary and Serbia appease the Kremlin. Italy wavers. No one feels safe.

The war is fuelling right-left political extremism as support surges for Putin’s paid-for populist apologists. In Moldova, last weekend’s EU membership referendum was grossly distorted by what its president, Maia Sandu, called a huge bribery operation by “criminal groups working together with foreign forces” – namely, Kremlin stooges.

Now Moscow is eyeing this weekend’s elections in Georgia where it covertly conspires to ensure pro-western parties lose. Such hybrid warfare – subversion, disinformation, influence operations, cyber-attacks, scams, online trolling – has mushroomed worldwide since 2022, as authoritarian regimes follow Russia’s lead.

Failure to contain the war is encouraging seismic geopolitical shifts, most notably the China-Russia “no-limits” partnership. China’s president, Xi Jinping, gets cheap oil; ostracised Putin gets sanctions-busting dual-use tech plus diplomatic backing. But it’s so much more than that. At last week’s Brics summit – hosted by Putin – Russia, China, India, Brazil and South Africa were joined by Iran, North Korea, Syria, Venezuela and, alarmingly, Nato member Turkey (among many others). Putin envisages a global anti-western alliance, Xi a post-American, China-led 21st-century new world order.

These are no idle dreams. For many second-tier countries, the west’s condemnation of Russian aggression in Ukraine and its refusal to condemn, and active facilitation of, Israeli aggression in Palestine represents an intolerable double standard. Some are switching sides.

What better illustrates the unbounded nature of this inexorably expanding conflict than the startling news that North Korea, in a breath-taking counterpoint to US and UK military intervention in the Korean war nearly 75 years ago, is deploying troops to the Ukraine theatre?

And how appalling that Donald Trump can cynically use Ukraine’s “forever war” to persuade US voters that Democrats like Kamala Harris cannot control a chaotic world, Nato is a con-trick run by freeloading Europeans and the UN is useless.

The war diverts attention from other grave conflicts, from Sudan to Myanmar. Attacks on Kyiv’s grain exports have caused food shortages and price spikes hurting poorer countries. It disrupts cooperative action on climate; indeed, it has greatly increased greenhouse gas emissions While Putin, indicted for war crimes, goes unpunished, respect for international law and the UN charter plummets. Impunity flourishes.

The war’s enormous economic costs are escalating. The World Bank estimates that the first two years caused $152bn (£117bn) of direct damage in Ukraine. The UN predicts $486bn is needed for recovery and reconstruction. Each day, the totals rise. Meanwhile, Russia constructs shadowy international networks – an officially approved black market – to circumvent sanctions and undermine dollar hegemony.

The cost in lives is heartbreaking. Conservative UN estimates suggest that about 10,000 civilians have been killed and twice that number injured. More than 30,000 Ukrainian soldiers may have died. Russian military casualties are an estimated 115,000 killed and 500,000 wounded. The cost to Russian society of intensifying authoritarianism, corruption and suppression of dissent and free media is immeasurable.

Ukraine has not lost the war, which is a remarkable feat in itself. But it is not winning, either. Western support is weakening, despite the rhetoric; Russian forces advance. President Volodymyr Zelenskyy’s “victory plan” has few takers. Winter is coming.

How much of this could have been prevented? Some developments, such as the China-Russia axis and rising rightwing populism, were happening anyway. The war simply accelerated them. But a lot of the wider damage was avoidable, wholly or in part.

In Warsaw, Biden was candid, almost boastful: back in January 2022, US intelligence knew that the invasion was imminent. He said he had repeatedly warned Putin it would be a big mistake. Yet, given his passionate belief that Ukraine’s fight for democracy and freedom has vital universal significance, surely what Biden should have done is told Russia’s dictator bluntly: “Forget it. Don’t invade. Or else you will find yourself fighting a better-armed, more powerful Nato.”

It’s called deterrence. It’s what Nato is for. Containment was never enough. Putin might still not have listened. But coward that he is, he probably would have – and saved everyone a world of pain.

[fatehbaz]

Sheetal Chhabria sets her finger on the core of a shared problem that her book Making the Modern Slum: The Power of Capital in Colonial Bombay, Yahia Shawkat’s Egypt’s Housing Crisis: Shaping the Urban Space and my own Possessing the City: Property and Politics in Delhi 1911-1947 are outlining. The settings and periods are diverse and the particular histories diverge. But, in each of our work, we point to both the commodification of shelter and the paradoxical histories of efforts to oppose or mitigate that commodification. The Housing Question – how to provide decent and dignified shelter to every human – seems to be hummed to a drearily repetitive tune (with a few varying notes) in the Global South. Indeed, many of the same problems are reproduced in the Global North as well.

The stubbornness with which mass housing initiatives are reinserted into commodity circuits is a key lesson in all three works. This despite a related phenomenon that Chhabria points to the sheer variety of ways in which housing has been used by the state to ‘manage populations’. Chhabria and Shawkat both refer, for instance, to moments in which housing has been utilized as a tool to ensure the immobilization of working populations. Much like in a prison, to use housing as a way to prevent or restrict the mobility of working people.

---

Part of the reason for this is that Chhabria’s work on Bombay culminates at a point of unique labor mobility: the migration away from the city of much of Bombay’s mill labor force in the wake of the late nineteenth century plague epidemic. [...] But it was also a project of housing in which luring workers back to the city and holding them there was an essential component. The Bombay Improvement Trust (BIT), whose trajectory from inception to failure Chhabria meticulously chronicles, bears the marks of exactly such an origin point. The BIT was in the final reckoning a mix of welfarism, state-subsidy for financial speculation, attempts to signal a more sanitary city and immobilising labour. [...] However, this limited decommodification of shelter was a mere sub-theme among the other agenda of the BIT.

Crucially, Chhabria points out, Indian elites and the colonial state joined in their appreciation of the opportunities for profit-making and governing on the cheap, while solving labor supply problems through the BIT’s housing initiatives.

In Shawkat’s Egypt too, both in the late nineteenth century and in the present, the ‘izba recurs as a form of housing designed to immobilize labor – converting peasants more fully into workers. [...]

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The slum must also [...] be an active source of a reserve army of labor. [...] Here the establishment of a Delhi Improvement Trust (in 1937, nearly 40 years after the BIT) was initiated by a piece of bad press. [...] The DIT’s major success was in [...] (something that Chhabria points out happened in Bombay too) participating in a round of speculative development in the Delhi countryside. [...] These and myriad other pathways have tended to return housing – even housing built at subsidized rates for the city’s working poor – to circuits of accumulation and profit.

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Shawkat [...] is clear-sighted about the terminal point – decommodified housing. Any intermediate position, he argues, would prove unstable and return housing to the circuits of capital circulation. [...] As I have been pointing out, each of our three works provides templates by which waves of partial decommodification are clawed back into circuits of profit and loss.

How, then, could a more permanent extrication of shelter from commodification be achieved? The unsuccessful efforts to decommodify housing in colonial Delhi illustrate some potential pitfalls. [...] The weakness of struggles to decommodify housing in Delhi meant that even housing for Partition refugees would become the launchpad for what is today India’s largest private real estate firm -- Delhi Land and Finance. [...]

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The Housing Question, cannot be separated from the much broader question of power. Mobilizations from below which are committed to a vision of broad human emancipation are the only viable way forward. Neither a brilliant urban plan nor the temporarily persuaded ear of a state official can achieve the decommodification of shelter that Shawkat calls for. [...] Stubbornly enough, [...] at the heart of it tends to lie a nexus between industrialists, richer traders, real estate speculators, and the state. Yes, temporary relief might be won [...]. But, as the history of the return of housing to circuits of commodity demonstrates, [...] the battle to provide shelter as a right is first about building [...] [movements] that can fight and win a broad decommodification of everyday life.

---

Text by: Anish Vanaik. “Shelter as Capital: Housing and Commodification: Lessons from the Global South.” Borderlines [open-access site mentored by editors of Comparative Studies of South Asia, Africa and the Middle East]. Published online: 18 February 2021. [Bold emphasis and some paragraph breaks/contractions added by me.]

[maaarine]

Bibliography: articles posted on this blog in 2024

Posted in January

Men Just Don’t Trust Women – And It’s A Huge Problem (Damon Young, Huffington Post, Mar 16 2015)

Amsterdam sex workers protest against plan to move red light district (The Guardian, Oct 19 2023)

They were Israel’s ‘eyes on the border’ - but their Hamas warnings went unheard (Alice Cuddy, BBC News, Jan 15 2024)

The Heteronormativity Theory of Low Sexual Desire in Women Partnered with Men (Sari M. van Anders, Debby Herbenick, Lori A. Brotto, Emily A. Harris, and Sara B. Chadwick, Aug 23 2021)

A new global gender divide is emerging (John Burn-Murdoch, Financial Times, Jan 26 2024)

The secret of OnlyFans: It’s much more than porn (Marta Biino and Madeline Berg, Business Insider, Jan 18 2024)

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Posted in February

Half of Spanish men feel discriminated against amid feminism backlash (James Badcock, The Telegraph, Jan 16 2024)

Parisians vote in favour of tripling parking costs for SUVs (Angelique Chrisafis, The Guardian, Feb 04 2024)

Ireland kickstarts vote on constitution’s wording about women and family (Rory Carroll, The Guardian, Jan 25 2024)

Divorce rates plummet to lowest level in 50 years ‘due to cost-of-living crisis’ (Kieran Kelly, LBC, Feb 22 2024)

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Posted in March

‘There are some really extreme views’: young people face onslaught of misogyny online (Clea Skopeliti, The Guardian, March 01 2024)

Johnson: Why men interrupt (The Economist, Jul 10 2014)

France makes abortion a constitutional right in historic Versailles vote (Kim Willsher, The Guardian, March 04 2024)

‘My self-worth plummeted every month’: the hidden disorder that can ruin women’s lives (Chloe Aslett, The Guardian, Oct 16 2023)

The tyranny of the algorithm: why every coffee shop looks the same (Kyle Chayka, The Guardian, Jan 16 2024)

DNA Tests Are Uncovering the True Prevalence of Incest (Sarah Zhang, The Atlantic, March 18 2024)

Finland is world’s happiest country for 7th year while US drops out of top 20 (France 24, March 20 2024)

Swedish pharmacy bans sale of anti-ageing skincare to children (Miranda Bryant, The Guardian, March 20 2024)

Women are being diagnosed with ADHD at unprecedented rates. Here’s why. (Kaelyn Lynch, National Geographic, Jan 16 2024)

5 Takeaways From an Investigation Into Hysterectomies in India’s Sugar Industry (Megha Rajagopalan, The New York Times, March 24 2024)

English Just ‘Badly Pronounced French’, Paris Academic Says (Tom Barfield, Barron’s, March 09 2024)

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Posted in April

Why are women more prone to long Covid? (David Cox, The Guardian, June 13 2021)

French Revolution: Cyclists Now Outnumber Motorists In Paris (Carlton Reid, Forbes, April 06 2024)

Long Covid may be the body trying to fight off other viruses (Sarah Knapton, The Telegraph, April 08 2024)

The Troubling Trend in Teenage Sex (Peggy Orenstein, The New York Times, April 12 2024)

Sydney knifeman who targeted women ‘was desperate for a girlfriend’ (Andrea Hamblin, The Telegraph, April 15 2024)

Revealed: Israel has sped up settlement-building in East Jerusalem since Gaza war began (Jason Burke, The Guardian, April 17 2024)

‘I was only a child’: Greenlandic women tell of trauma of forced contraception (Miranda Bryant, The Guardian, March 29 2024)

Hormones and their Interaction with the Pain Experience (Katy Vincent and Irene Tracey, 2008)

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Posted in May

Study suggests injury risk varies in menstrual cycle (Katie Gornall, BBC News, May 01 2024)

‘Urination equality’: Amsterdam women win fight for more public toilets (Ashifa Kassam, The Guardian, April 29 2024)

You can want things you don’t like and like things you don’t want (Shayla Love, Psyche, May 07 2024)

‘A new abyss’: Gaza and the hundred years’ war on Palestine (Rashid Khalidi, The Guardian, April 11 2024)

The important link between eating disorders and past trauma (Giulia Suro, Psyche, May 14 2024)

Hostile Intelligence: Reflections from a Visit to the West Bank (David Graeber, 2015)

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Posted in June

AfD: How Germany’s far right won over young voters (Hans Pfeifer, Deutsche Welle, June 10 2024)

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Posted in July

Coloniser le sud du Liban ? Un fantasme d'Israéliens messianiques à prendre au sérieux (Ha'Aretz via Courrier International, 3 juillet 2024)

Tampons found to contain concerning levels of arsenic and lead in world first study (Vishwam Sankaran, The Independent, July 10 2024)

South Korea politician blames women for rising male suicides (Jean Mackenzie, BBC, July 9 2024)

“Violence against women a ‘national emergency’ in England and Wales, police say (Vikram Dodd, The Guardian, July 23 2024)

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Posted in August

Menopause was a French invention at a time of revolution (Alison M Downham Moore, Psyche, July 30 2024)

Misogyny to be treated as extremism by UK government (Helen Catt and Charlotte Rose, BBC, Aug 18 2024)

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Posted in September

What Is Synaptic Pruning? (Jacquelyn Cafasso, Healthline, Sep 18 2018)

‘Frightening’ Taliban law bans women from speaking in public (Annie Kelly and Zahra Joya, The Guardian, Aug 26 2024)

Elon Musk suggests support for replacing democracy with government of ‘high-status males’ (Ariana Baio, The Independent, Sep 03 2024)

‘Not our tradition’: calls in Sweden to ban fathers walking brides down the aisle (Miranda Bryant, The Guardian, Aug 31 2024)

Olympic runner Cheptegei defied her violent ex. She lost her life anyway (Ammu Kannampilly, Reuters, Sep 14 2024)

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Posted in October

The outside world knows Wim Hof as the eccentric Iceman. His family suffered domestic violence (Anneke Stoffelen and Robert van de Griend, De Volkskrant, Sep 28 2024)

The mothers who regret having kids: ‘I wished I were holding a cat and not a baby’ (Adrienne Matei, The Guardian, Sep 26 2024)

At a Loss for Words: How a flawed idea is teaching millions of kids to be poor readers (Emily Hanford, Amp Reports, Aug 22 2019)

Vu d’Allemagne. Le procès Pelicot, une honte pour tous les hommes (Leo Klimm, Der Spiegel via Courrier International, Oct 10 2024)

These Two Rape Cases Are a Lot Closer to Home Than We Like to Admit (Elizabeth Spiers, The New York Times, Sep 22 2024)

How The Netherlands Built a Biking Utopia (Michael Thomas, Distilled, March 09 2023)

It’s not just Trump v Harris: America’s men and women are also locked in battle now (Jonathan Freedland, The Guardian, Sep 27 2024)

Violences routières : « Plus on adhère aux stéréotypes masculins, plus on est enclin à prendre des risques sur la route » (Olivier Razemon, Le Monde, Oct 25 2024)

You Might Not Recover from Burnout. Ever. (Devon Price, Oct 25 2024)

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Posted in November

Why are British teenage girls so unhappy? Here’s the answer (Caitlin Moran, The Times, Sep 13 2024)

Russia bans ‘child-free propaganda’ to try to boost birth rate (Reuters, Nov 12 2024)

[harryandmeghansussex]

Meghan, The Duchess of Sussex is a feminist, champion of human rights and gender equity, and global role model. Her lifelong advocacy for women and girls remains a constant thread she weaves through both humanitarian and business ventures. She is noted as one of the most powerful and influential women in the world, topping lists such as TIME Magazine’s Most Influential People, The Financial Times’ 25 Most Influential Women, Variety Power of Women, and British Vogue’s Vogue 25. She and her husband, Prince Harry have also been the recipients of the NAACP President’s Award as well as the Robert F. Kennedy Ripple of Hope Award. Meghan’s global impact, and strong stance on resilience, equality, and compassion through action, have made her one of the most iconic public figures of this generation.

Born and raised in Southern California, Meghan attended Los Angeles based all-girls Catholic School, Immaculate Heart, which she continues to support as an alumna, before moving to Chicago to attend the prestigious Northwestern University. While there, she double majored in Theater and International Relations, and went on to intern at the US Embassy in Buenos Aires, Argentina, as well as to study abroad in Madrid, Spain. After graduation, Meghan turned her focus to the entertainment industry, landing her big break as a lead actor on the hit series, ‘Suits’ which she starred in for seven seasons. During her time off between filming, Meghan travelled to Rwanda, India, and across the globe working on humanitarian missions, and serving in key roles such as: UN Women’s Advocate for Women’s Political Participation and Leadership, a World Vision Global Ambassador, and a leading Counsellor to One Young World, where she inspired youth and women around the world through her passionate advocacy and hands-on approach to being of service. She also travelled to support the military community on a USO Tour, visiting six military bases in seven days including Bagram, Afghanistan. In 2018, Meghan married Prince Harry, becoming The Duchess of Sussex.

An accomplished writer, she has contributed pieces to publications in the UK, US, and Ireland, and parlayed that skill into the creation of the successful lifestyle website, ‘The Tig’, where her thoughtful and inspiring op-eds cultivated a global fanbase. The Duchess of Sussex was the first guest editor in the history of British Vogue for their July Issue in 2019, which was the fastest selling copy in the history of the publication. She and Prince Harry founded The Archewell Foundation in 2020 to support communities in need at a micro and macro level, in both moments of crisis as well as for long term aid. At The Archewell Foundation, they hold the value that charitable work should not simply be ‘a handout, but rather a hand held’, a phrase which Meghan first coined when supporting UK charity Smart Works, of which she is patron, that uplifts and prepares underserved women to enter the workforce. Meghan and her husband also founded and oversee production company, Archewell Productions and podcasting arm, Archewell Audio. In 2022, Meghan launched ‘Archetypes’, a record-breaking podcast exploring the labels that try to hold women back; ‘Archetypes’ debuted at Number 1 in The US, UK, Australia, Ireland, and New Zealand, and topped the charts as the Number 1 podcast in 47 countries, demonstrating her unparalleled global reach. After its first season, Archetypes was awarded was awarded The People’s Choice Award in the podcast category.

She is a NY Times Best Selling author, publishing her highly celebrated children’s book, ‘The Bench’, and “Together: Our Community Kitchen” a publication she spearheaded with the women of the Hubb Community Kitchen in the UK, who were displaced after the tragic Grenfell Fire. True to her character, The Duchess of Sussex mobilized to turn pain into purpose, working alongside this dynamic group of women to help them heal, grow, and develop their own business enterprises in the face of adversity. In addition to topping the NY Times Bestsellers list, “Together,” also debuted as number one on the UK’s Sunday Booklist, with proceeds going to the Kitchen. Meghan’s influence in fashion has been coined “The Meghan Effect” with items selling out within hours of her wearing them. Her ‘effect’ has transcended fashion, shifting cultural conversations as seen with her op-ed for the NY Times “The Losses We Share.” The piece detailed a heartbreaking personal loss which spiked the conversation surrounding miscarriage to the highest it had been spoken of in over two decades at the time of publishing.

Meghan is a passionate advocate for mental health and family care, the holistic support of women and children’s rights, and the immeasurable value of one’s self worth. Her core belief that representation matters, and her connection to community through the lens of learning, healing, and inspiring have helped define her as a cultural catalyst for positive change. Meghan resides in California with her husband and their children Prince Archie Harrison and Princess Lilibet Diana, and their three dogs.

[mandsleanan]

“Only by not having children can I live the way I do now,” said Zheng, who has visited more than 50 countries. “I only have to think about myself, which is the part I enjoy most.”

“Considering global political and economic trends, if you don’t have a strong maternal instinct, you shouldn’t have a child just for the sake of it,” she said.

(Text under cut.)

TAIPEI, Taiwan — 

Shorthand for gainfully employed U.S. couples whose only responsibilities were to themselves, the acronym DINK — dual income, no kids — was coined to capture the unabashed materialism of the 1980s.

Four decades later, the term has made a comeback, with millennials embracing it on social media to flaunt their free time, lavish spending habits and the other perks of choosing to be child-free.

It has taken off far beyond United States, including in one country where it would have been hard to imagine just a decade ago: China.

China’s population declined for the second year in a row last year; India overtook it as the world’s most populous nation.

Amid deep economic uncertainty, a growing number of Chinese are opting for another number: zero.

Many proudly refer to themselves as DINKs — using the acronym in English — or dingke, the phonetic translation in Mandarin.

Xu Kaikai, 29, said being DINKs gives her and her 36-year-old boyfriend a greater sense of control over their lives.

“It reduces some of the anxieties about age,” she said.

She works in advertising in Shanghai, where her boyfriend is a project manager for a construction company. “I used to talk about having a beautiful baby,” Xu said.

Now she calls herself a “drifting leaf” and gets so bored with people talking about children on social media that she follows only people without them.

A recent study from the Luoyang Institute of Science and Technology estimated that DINKs accounted for about 38% of Chinese households in 2020 — up from 28% a decade earlier — but those figures included large numbers of people living alone and the research did not look at whether couples were in fact dual-income.

Not that all Chinese adhere to a strict definition of the acronym. Some include anybody without children, while others don’t count people who still have a chance to change their minds — women of child-bearing age or men without vasectomies.

It’s also unclear how many DINKs there are in the United States. Some 44% of couples ages 18 to 49 surveyed by Pew Research in 2021 said it was unlikely they would have children — up from 37% in 2018.

After decades of enforcing a one-child policy to keep population growth in check, China’s government is now offering subsidies and financial support to encourage families to have more kids.

“It was just a high-class phenomenon,” said Yuying Tong, a professor of sociology at the Chinese University of Hong Kong who studies family life.

She said the number of DINKs is going up in large part because more people are delaying marriage.

The rejection of societal norms comes at an inopportune time for the Communist Party, which is struggling to stave off a demographic crisis in which there aren’t enough young people to support the elderly.

The country’s population declined for the second year in a row in 2023 — India surpassed it as the world’s most populous nation — and the birthrate fell 5.6% to a record low of 6.39 births per 1,000 people — a little more than half the U.S. rate, which has also declined in recent years.

Now the Chinese government is trying to motivate people to have kids, resorting to subsidies and even matchmaking services.

In March, Chinese officials announced plans to provide more support for child rearing and “work toward a birth-friendly society,” including improving parental leave policies and child-care options.

The government also appears to be trying to scare DINKs into changing their mindset.

Last month, China’s Twitter-like platform Weibo promoted an article about DINK couples in China who regretted not having kids because it had led to loneliness, marital strife or inheritance issues.

As economic growth has stalled, more Chinese couples are giving up on the idea of having kids. According to the Beijing-based Yuwa Population Research Institute, the average cost of raising a child in China was one of the highest in the world.

DINKs took issue with the characterization.

“Are all these examples being brought up to encourage people to have kids?” a popular entertainment blogger who goes by the moniker Jing Zhao Cha Mi responded on social media. “There are probably more people who regret their lifestyle with children.”

Hu Huiwen, a 38-year-old financial consultant who lives in the eastern city of Hangzhou, has heard all the warnings: Her husband will leave her. She will want children later and be too old to have them. Nobody will care for her in her old age.

But in the five years since she swore off having children, none of that has come to pass.

“It might become a minor sorrow, but not to the point of regret,” Hu said. “Even if I do regret it, then I can only bear it myself. What else can you do?”

She belongs to three different group chats for DINKs, where participants advise one another how to spend their leisure time. In video diaries, she shows herself reading or wandering through parks admiring the foliage.

In March, the Chinese government emphasized the need to support child rearing and “work toward a birth-friendly society.”

A recent study by the Beijing-based Yuwa Population Research Institute found that the average cost of raising a child in China was $74,600 — or 6.3 times the per capita GDP.

Of the 14 countries included in the study, the only place where it cost more relative to income was South Korea, which has the lowest birthrate in the world.

“At the end of the day, it’s still about the pressures and this very competitive environment that makes both marriage and childbearing untenable,” said Mu Zheng, an assistant professor of sociology at the National University of Singapore.

When Zheng Yu, a 47-year-old fashion consultant living in Shanghai, was in her 20s, her friends and family viewed her decision to not have children as a symptom of her rebellious nature.

Now with income inequality rising and seeing the pressure her niece is under to excel, she said she and her husband would make the same decision all over again.

“Only by not having children can I live the way I do now,” said Zheng, who has visited more than 50 countries. “I only have to think about myself, which is the part I enjoy most.”

“Considering global political and economic trends, if you don’t have a strong maternal instinct, you shouldn’t have a child just for the sake of it,” she said.

Vable Liu, a 29-year-old English teacher in Jinan, the capital of China’s Shandong province, said about a third of her friends are dinks.

Liu and her husband recently posted a short video defending their choice.

“Will DINKs miss out on the joy of children?” she asks him in the clip.

DINK couples account for about 38% of households in China as of 2020, according to one study, up from 28% in 2010.

They continued with their mock interview.

“What if your family pressures you?” “Stay away from them.”

“Who do you pass your wealth on to when you die?” “Squander it all before then.”

Special correspondent Xin-yun Wu in Taipei contributed to this report.

[grits-galraisedinthesouth]

"Don't hate the player, hate the game." Maybe we should hate both. There's padding a resume but then there's a work of fiction which is what Meghan Markle is determined to pass off as her professional bio. Grab your sick bucket🤢 before examining more proof that this vile woman can't tell THE TRUTH even if her life depends on it. There simply aren't enough pinocchios in the world to highlight these lies.

🤥"Accomplished writer"

🤥Fashion "The Meghan Effect causes items to sell out." (She had the nerve to include the op-ed she purchased for the mythcarriage) "spiked conversation surrounding miscarriage to the 🤥highest it had been spoken of in over two decades at the time of publishing🤦‍♀️🤦‍♂️."

🤥Highly celebrated children's book

Meghan, The Duchess of Sussex, Keynote Speaker | Harry Walker Agency

Meghan, The Duchess of Sussex is a 🤥feminist🤥, champion of 🤥human rights and gender equity, and global🤥 role model. Her lifelong🤥 advocacy for women and girls remains a constant thread she weaves through both humanitarian 🤥and business ventures. She is noted as one of the most 🤥powerful and influential women in the world, topping lists such as TIME Magazine’s Most Influential People, The Financial Times’ 25 Most Influential Women, Variety Power of Women, and British Vogue’s Vogue 25🤥. 

This is just gross. A global role model🤢 one of the most iconic figures of this generation 🤢🤢🤢

She and her husband, Prince Harry have also been the recipients of the NAACP President’s Award as well as the Robert F. Kennedy Ripple of Hope Award. Meghan’s global impact🤥, and strong stance on resilience, equality, and compassion🤥 through action, have made her one of the most iconic 🤥public figures of this generation.

Born and raised in Southern California, Meghan attended Los Angeles based all-girls Catholic School, Immaculate Heart, which she continues to support as an alumna, 🤥before moving to Chicago to attend the 🤥prestigious Northwestern University. While there, she 🤥double majored in Theater and International Relations, and went on to 🤥intern at the US Embassy in Buenos Aires, Argentina, as well as to study abroad in Madrid, Spain. After graduation, Meghan turned her focus to the entertainment industry, landing her big break as a 🤥lead actor on the hit series, ‘Suits’ which she starred in for seven seasons. During her time off🤥 between filming, Meghan travelled to Rwanda, India, and across the globe 🤥working on humanitarian missions, and serving in 🤥key roles such as: UN Women’s Advocate for Women’s Political Participation and Leadership, a World Vision Global Ambassador, and a leading Counsellor to One Young World, where she inspired 🤥youth and women around the world through her passionate advocacy and 🤥hands-on approach to being of service. She also travelled to support the military community on a USO Tour, visiting six military bases in seven days including Bagram, Afghanistan.

In 2018, Meghan married Prince Harry, becoming The Duchess of Sussex.

🤥An accomplished writer, she has contributed pieces to publications (tabloids🙄) in the UK, US, and Ireland, and parlayed that skill into the creation of the successful lifestyle website, ‘The Tig’, where her thoughtful and🤥 inspiring op-eds cultivated a😂 global fanbase. The Duchess of Sussex was the first guest editor in the history of British Vogue for their July Issue in 2019, which was the fastest selling copy in the history of the publication.

She and Prince Harry founded The Archewell Foundation in 2020 to support communities in need at a micro and macro level, in both moments of crisis as well as for long term aid. At The Archewell Foundation, they hold the value that charitable work should not simply be ‘a handout, but rather a hand held’, 🤥a phrase which Meghan first coined when supporting UK charity Smart Works, of which she is patron, that uplifts and prepares underserved women to enter the workforce. Meghan and her husband also founded and oversee production company, Archewell Productions and podcasting arm, Archewell Audio.

In 2022, Meghan launched ‘Archetypes’, 🤥a record-breaking podcast exploring the labels that try to hold women back; ‘Archetypes’ debuted at Number 1 in The US, UK, Australia, Ireland, and New Zealand, and topped the charts as the Number 1 podcast in 47 countries, demonstrating her 😂🤥unparalleled global reach. After its first season, Archetypes was awarded The People’s Choice Award in the podcast category😂.

She is a 🤥NY Times Best Selling author, publishing her highly celebrated children’s book, ‘The Bench’, and “Together: Our Community Kitchen” a publication she spearheaded with the women of the Hubb Community Kitchen in the UK, who were displaced after the tragic Grenfell Fire. True to her character, The Duchess of Sussex mobilized to turn pain into purpose🤢, working alongside🤥 this dynamic group of women to help them heal, grow, and develop their own business enterprises in the face of adversity. In addition to 🤥topping the NY Times Bestsellers list, “Together,” also debuted as number one on the UK’s Sunday Booklist, with proceeds going to the Kitchen.

Meghan’s influence in fashion has been coined🤥 “The Meghan Effect” with items selling out within hours of her wearing them. 🤥Her ‘effect’ has transcended fashion, 🤥shifting cultural conversations as seen with her op-ed for the NY Times “The Losses We Share.🤥🤥🤥🤥🤥” The piece detailed a heartbreaking personal loss 🤥🤥🤥🤥🤥which spiked the conversation surrounding miscarriage to 🤥the highest it had been spoken of in over two decades at the time of publishing🤥🤥🤥🤥🤥. 

Meghan is a 🤥passionate advocate for mental health 🤥🤥🤥🤥🤥and family care🤥🤥🤥🤥, the holistic support of women and children’s rights🤥, and the immeasurable value of one’s self worth🤥. Her core belief that representation matters🤪, and her connection to community through the lens of learning🤥, healing🤥, and inspiring🤥 have helped define her as a 🤥cultural catalyst for 🤥positive change.  

Look at how dumb the kids names look with titles🤡🤦‍♂️🤦‍♀️ They sound like cartoon characters.

Meghan resides in California with her husband and their children Prince Archie Harrison and Princess Lilibet Diana, and their three dogs.

Someone told her this is her "Beyonce" photo. Most likely it was Thirsty Tyler Perry 😂🤦‍♀️🤦‍♂️

[sharmakanika]

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[emblemxeno]

Just putting it here rather than add to the post because it's a bit long. Maybe a slight difference of opinion here; I place what we would often call financial imperialism more or less on the same level. Denying your markets to other countries can be a form of financial imperialism, especially if you deny them to your natural geographical neighbor. Obviously, it's NOT direct that just invading with a military force, but if you can coerce a nation to go against its own interests or flail against you like a dog trapped in a steel cage, it's not that much different. My home country has spent its entire existence as an independent state under financial imperialism. That threat of pulling everything out and dooming the economy has pretty much hung in the background for nearly 2 centuries at this point. It sure has led to a lot of needless death and suffering without really needing to use bullets. As for Goo-ron or any asshole who follows them. Yeah. They are not the best guys. And their methods for solving the problem are comically counterproductive. Obviously, the fantasy setting and Goo-ron being actually evul don't help at all. And Fates doesn't give me much choice but to accept the premise given to me by the story. And I sort of feel some way of "why should I have to accept the pro-imperialist framing of the story?" Even if it's not intentionally so, we sure do spend more time on the moral bankruptcy of the weaker nation than upending the oppression carried out by the stronger one. That's where I'm coming from.

Completely valid! I didn't know that's where you were coming from, and I appreciate you educating me on this.

It's understandable to me, since I have the same opinions on how 3H handles its discussions of imperialism and trying to equalize it by finding ways to excuse Edelgard at every turn.

I didn't realize how others may look at Fates' depictions of how it handles the dynamic between Nohr and Hoshido. Doing research has led me to examples of financial oppression, such as India's time as a state under British control leading to mass famine and starvation, where they'd pull out all resources and make it impossible for the native population to sustain itself, for example.

Hoshido being voluntarily ignorant of Nohr's climate and resource crisis is similar. It gives an element of fridge horror of Fates' world to the more casual crowd, but again, it probably reads as something too close to home or even ignorant on the writers' part when it's happened in real life.

Thanks for taking the time to write this out, hope you don't mind me posting it.