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It is a serious problem when big banks such as JP Morgan Chase offer 1-2% in interest on deposits when the Fed has increased market rates to above 5%. The average for all banks is only 0.73%. Consider that JP Morgan Chase made $14 billion in profit in 2022. This reduces the interest earned by the vast majority of average Americans who have savings at American banks and reduces their wealth further increasing inequality in the US.
It is a serious problem when big banks such as JP Morgan Chase offer 1-2% in interest on deposits when the Fed has increased market rates to above 5%. The average for all banks is only 0.73%. Consider that JP Morgan Chase made $14 billion in profit in 2022. This reduces the interest earned by the vast majority of average Americans who have savings at American banks and reduces their wealth further increasing inequality in the US.
LyrArc Article Gist
The average interest rate at big banks for millions of depositors is only 1-2% or 0.73% on average for banks, even though the Fed has put market interest rates at above 5%. This is true also in Europe for the gap in rates, and there are charges of profiteering by banks.
The average interest rate at big banks for millions of depositors is only 1-2% or 0.73% on average for banks, even though the Fed has put market interest rates at above 5%. This is true also in Europe for the gap in rates, and there are charges of profiteering by banks.
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Indian prime minister Modi is the guest of honor on France's national holiday, the Bastille Day July 14, 2023. On this day French revolutionaries freed prisoners of King Louis XVI at the Bastille in Paris. By October this led to the Declaration of the Rights of Man and Citizen the first formal document of rights of the people before the American document on these same rights a few years later.
Indian prime minister Modi is the guest of honor on France's national holiday, the Bastille Day July 14, 2023. On this day French revolutionaries freed prisoners of King Louis XVI at the Bastille in Paris. By October this led to the Declaration of the Rights of Man and Citizen the first formal document of rights of the people before the American document on these same rights a few years later.
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51.4 million Americans used campsites of national parks and other parks in 2022.
51.4 million Americans used campsites of national parks and other parks in 2022.
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Foreign investment at high rates helped China build its middle class. In the first quarter of 2023 it dropped to $20 billion from $100 billion a year earlier. This means about $80 billion will be going elsewhere to increase incomes and the middle class through investments in the US itself, and in countries such as India and Vietnam.
Foreign investment at high rates helped China build its middle class. In the first quarter of 2023 it dropped to $20 billion from $100 billion a year earlier. This means about $80 billion will be going elsewhere to increase incomes and the middle class through investments in the US itself, and in countries such as India and Vietnam.
LyrArc Article Gist
The latest inflation data with inflation falling first from 7% in 2022 to half that or 4% in early 2023, and dropping further to 3% by mid 2023, suggests that the past inflation data was transitory, says this report in the WSJ.
The latest inflation data with inflation falling first from 7% in 2022 to half that or 4% in early 2023, and dropping further to 3% by mid 2023, suggests that the past inflation data was transitory, says this report in the WSJ.
LyrArc Article Gist
A sign of irrelevant factors intruding into political discourse is this lawsuit challenging the TikTok ban in Texas saying that it prevents academic research. TikTok as a social media app was never known for its use in academic research. A lot has been written about its harmful effects on teenagers. The Knight First Amendment Institute at Columbia University filed this lawsuit making this bizarre, as it brings a large east coast university into this discourse, that does nothing to address the harmful effects of social media when two thirds of fourth graders in the US are not proficient in reading.
A sign of irrelevant factors intruding into political discourse is this lawsuit challenging the TikTok ban in Texas saying that it prevents academic research. TikTok as a social media app was never known for its use in academic research. A lot has been written about its harmful effects on teenagers. The Knight First Amendment Institute at Columbia University filed this lawsuit making this bizarre, as it brings a large east coast university into this discourse, that does nothing to address the harmful effects of social media when two thirds of fourth graders in the US are not proficient in reading.
LyrArc Article Gist
Pello Bilbao becomes the first Spaniard in 5 years to win a stage in a Tour de France. He made it through hilly terrain in the massif central highlands of France to win Stage 10. Jonas Vinegaard retains a 17 second lead overall.
Pello Bilbao becomes the first Spaniard in 5 years to win a stage in a Tour de France. He made it through hilly terrain in the massif central highlands of France to win Stage 10. Jonas Vinegaard retains a 17 second lead overall.
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