News Story of the Day: American consumers have a fierce appetite for credit and debt, says new data from WalletHub, a personal finance website.
According to its 2016 Credit Card Debt Study, consumers in the United States racked up $21.9 billion in credit card debt during the third quarter. This is the seventh biggest Q3 accumulation in the last 3 years.
The study noted that the U.S. is set to end 2016 with an $80 billion net increase in credit card debt.
Chart of the Day: how computer literate are you? A chart from the Organisation for Economic Co-operation and Development (OECD) provides data as to how computer literate populations are in the United States, Canada, Japan and elsewhere. Here is the chart:
Illustration of the Day: two-time presidential candidate Hillary Clinton recently delivered a speech in which she complained about so-called fake news. She whined and moaned that fake news was the reason she lost the 2016 presidential election. But isn’t Clinton the champion, the queen of fake news?
Hillary Clinton – The Queen of Fake News – Lectures Americans About Fake News – https://t.co/B22p65Gyum pic.twitter.com/0vhrHubkId
— Paul Joseph Watson (@PrisonPlanet) December 9, 2016
Quote of the Day: the electoral college vote is presently being debated after the result of last month’s election. Many of the critics complain that the U.S. should adopt a popular vote, direct democracy system and abolish the electoral college vote, which is silly. The opponents who regularly slam the ECV will say they care about minorities but then complain about the minority of voters. Here is a quote from former U.S. President James Madison on democracy:
“Democracy is the most vile form of government. … democracies have ever been spectacles of turbulence and contention; have ever been found incompatible with personal security or the rights of property: and have in general been as short in their lives as the have been violent in their deaths.”
Video of the Day: Donald Trump hasn’t even been sworn in as president yet and he is already violating the basic laws of economics. Don’t worry, though, because we have legendary free market economist Milton Friedman debating Trump about trade policy in the video embedded below:
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