News Story of the Day: There is a gender pay gap in the fashion industry. Before you grab your pitchforks and shriek about the patriarchy, we need to warn you that there is a gender pay gap in the fashion industry…favoring women.
According to new research conducted by lingerie brand Bluebella, women earn approximately 75 percent more than men, with women making up about nine of the top ten highest earning models in the United Kingdom.
Where are the feminists?
Funny enough, however, if you look like a man than you will be the highest earner a la a model named Cara Delevinge.
Chart of the Day: is bitcoin “returning to normal?” MarketWatch put together a chart that suggests bitcoin investors need to get prepared for some ugliness in the cryptocurrency market:
Illustration of the Day: Keynesian economist Paul Krugman recently opined that economic laws of yesterday do not apply to today. Huh? Does this mean that much of the nonsense espoused by John Maynard Keynes or Karl Marx should just be dismissed? OK! Let’s also dismiss his ideas of bubble economics:
Tweet of the Day: yes, it’s true: Hillary Clinton is writing a book titled “What Happened.” Glenn Greenwald had a funny tweet about it:
Books that pose a question, and then answer it – right on the cover! (via @historyinflicks) pic.twitter.com/93zxLd6Ztn
— Glenn Greenwald (@ggreenwald) July 27, 2017
Quote of the Day: Foxconn is setting up shop in the United States. President Donald Trump is celebrating this move, but, following his economic logic, shouldn’t he be really upset about this? Mark Perry of the American Enterprise Institute (AEI) explains:
So while we constantly hear Donald Trump lamenting America’s merchandise trade deficit, blaming China for stealing our factory jobs, and telling us that the “theft of American prosperity has come to a screeching halt,” he enthusiastically welcomes foreign investment from Taiwan-based Hon Hai Precision Industry Company (Foxconn is its trading name). Obviously not realizing that the flip-side of the “trade deficit” is an inflow of foreign capital that provides a vital source of financing that fuels capital creation and business expansion in America. In fact, every dollar that leaves the US from a merchandise trade deficit is exactly offset by one dollar returning as an inflow of foreign investment back into the US economy, an economic reality that Donald Trump apparently doesn’t understand very well
Video of the Day: we may have a new song that skyrocket to the top of the music charts. It’s called: “Trump, Russia, Possible Collusion.” It’s pretty catchy to say the least.
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