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On the surface, the picture for Chinese banks is improving, particularly for larger banks. Delinquent loan ratios are down as are “special mention” modification cases and loan loss reserves look positive, an April 19 Moody’s report pointed out. The story […] The post Moody’s Sounds Alarm On Smaller Chinese Banks appeared first on ValueWalk.

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Last night the president backed off his demand that any deal to fund the federal government include money to start construction on his border wall. At an event with conservative journalists, Trump said he's okay waiting until September to have this fight....Even after he realizes the border wall is infeasible, he is unlikely to ever acknowledge it publicly because it was such a central rationale of his candidacy. "I will build a great wall," Trump promised in his June 2015 announcement speech. "And nobody builds walls better than me, believe me. ... And I will make Mexico pay for that wall.
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"Just get a bank loan." That’s the simple financial advice that Chester Herbert’s white associates gave him when they saw his upholstery business had potential to be even larger. There was one big problem with that, though. “They weren’t giving bank loans to guys who looked like my father,” said Chester’s son, Bob Herbert, a senior fellow at the think tank Demos.  Discriminatory acts like the ones Chester Herbert faced as an African-American man have made it incredibly difficult for black people in the U.S. to enter the middle class or stay in it. Bob Herbert’s new documentary “Against All Odds: The Fight For a Black Middle Class,” which airs on the PBS World channel tonight, looks at the specific practices that institutions have employed against black men and women. (You can watch the full documentary here.) If you want to build wealth, a good job and that first family home are crucial, Herbert said. But African-Americans were historically barred from most good jobs until the latter part of the 20th century, and were prevented from attaining decent housing. “African-Americans were shut out of the American dream," he said.  Living in a home that isn't yours One type of prejudice African-Americans encountered in the housing market: contract buying. A “contract purchase” was almost like buying the house on an installment plan, Herbert said. You wouldn’t have ownership of the house until you paid off the whole thing. The practice ended up costing the black community up to $500 million over 30 years, reported the Chicago Tribune.  “These shady brokers would come along and you would get to move into the house, and then you would make monthly payments as if you were making a mortgage, but you wouldn't build up any equity,” Herbert said. “If you defaulted on the loan at any point — let's say you fell a month or a month and a half behind — then they could take take over the house, evict you and not give you any of your money back." Practices like these didn't end in the 20th century. Herbert argued that the sub-prime loan crisis shared similarities with contract selling — and these sub-prime loan offers weren't given by people you'd think of as shady brokers. "Some of them were the biggest banks that we're aware of in the country," Herbert said. But they would offer subprime loans to African-Americans who were making, let's say, $100,000 or more a year, he said. They were more likely to get subprime loans in some cases than white families with an income of $30,000 a year.  Related What's causing the collapse of black-owned businesses? The Bank Black movement gains traction New interest in area where black business once thrived The problem with Social Security Additionally, our social safety net, the Social Security system, was not set up to cover certain occupations that were filled predominantly by people of color. When President Franklin D. Roosevelt passed Social Security back in the 1930s, he needed the support of Southern Democrats for this to get through Congress, Herbert said. "They would not support it unless it excluded both farm workers and domestic worker," he said. And many black people happened to hold those jobs. “We point out in the film you could work for 40 years faithfully as a maid, do good work, finally retire. ” Herbert said. “But they made so little, they wouldn’t have any savings, no retirement fund and no Social Security. In essence, no money at all.” Making it to the middle class On the employment front, one of the possible paths to entering the middle class were government jobs.  “Most jobs for blacks were menial jobs and almost all black women who were working up until the mid 20th century were domestics maids or housekeepers,” he said. “So government jobs became incredibly important. You could be a teacher in black schools. You could be a sanitation worker. You could work in a post office and law enforcement and that sort of thing. And of course there were a lot of people who were self-employed who built businesses, which is what my family did.” While he explored predatory practices in the documentary, Herbert clarified that he didn't want to make it an "incredible downer and suggest that no one was doing well." "The impression that a lot of people have is that it's 'either-or.' That it's either the people who are making astonishing amounts of money, like your big movie stars or TV stars or athletes and that sort of thing, or you’re the people who are sort of stuck in the ghetto and you're living in a neighborhood that's crime ridden," Herbert said. "And it's not just that extreme. There is a large middle class. And one of the things we try to show in the film is how against all odds, so many African-Americans were able to establish a middle-class standard of living."

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Some good news: According to the latest Marketplace-Edison Research Poll, Americans are feeling less anxious about the economy. That is, unless you're between 18 and 24, in which case you're losing sleep over your job, housing and retirement. Straddling millennials and Generation Z, 18- to 24-year-olds are entering adulthood in a fast-moving political environment, where traditional career paths are changing faster than a social media status update.  So this week on Marketplace Weekend, we want hear from you or someone you know. What are the challenges facing 18- to 24-year-olds in America today? What could the government do to help you feel less anxious about the economy and your future financial life? Or perhaps you're a parent with children in this age group. How are you helping them? And how does their anxiety compare to concerns you had at that stage in life?  Come talk to us. Hit us up on Twitter and Facebook. Send us an email at Weekend@marketplace.org, or give us a call: 800-648-5114.

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Workplace criticism can be served with a side of profanity during unionization fights, especially if swearing was previously tolerated, according to New York federal court. In a decision handed down on Friday and first reported by the New York Post, the Second Circuit Court of Appeals found that an employee fired by Pier Sixty in New York for calling his boss a “nasty mother f*cker” in a Facebook post should not have been fired. The reason? The comment was made during a time when the employees were trying to unionize, and the profanity-filled post ended with an encouragement for employees to support the union. After being let go from the event venue, Hernan Perez, the employee, filed a claim with the National Labor Relations Board alleging that he was terminated in retaliation for “protected concerted activities.” Under the National Labor Relations Act, employees cannot be fired for union activity, which includes criticism of the employer and workplace policies. The post read: “Bob is such a NASTY MOTHER F*CKER don’t know how to talk to people!!!!!! F*ck his mother and his entire f*cking family!!!! What a LOSER!!!! Vote YES for the UNION!!!!!!!” Perez deleted the post three days after he published it on Facebook, according to the court documents. Yet even though the post was removed on Oct. 28, 2011, it had already been seen by management, and Perez was fired on Nov. 9. On Friday, the Second Circuit Court upheld the lower court’s ruling that Perez should not have been fired. In its decision, it pointed out that since the post encouraged others to vote for the union, it was not a one-off reaction but “part of a tense debate over managerial mistreatment in the period before the representation election.” As such, it qualified as protected activity. Related links A new economic indicator: The frequency of CEO profanity What the #%*$ did that ad just say? #%*#!!! Swearing in the workplace However, it’s not just the fact that Perez encouraged others to join the union that led the court to rule in his favor. Turns out that Perez was not the only one using foul language at work. “[I]n the context of daily obscenities, Pier Sixty only issued five written warnings to employees for such an offense in the six years prior to Perez’s discharge,” the court noted in its decision, pointing out that employees were not disciplined for widespread profanity, including use of words “f*ck” and “motherf*cker.” “And there was no evidence that Pier Sixty has ever discharged an employee solely for the use of offensive language.” Employee testimony from the lower court alleged that the supervisor mentioned in Perez’s post used foul language when directing employees, screaming at them phrases such as “What the f*ck are you doing?” and “Are you guys f*cking stupid?” “Under the circumstances presented here, it is striking that Perez — who had been a server at Pier Sixty for 13 years — was fired for profanities two days before the union election when no employee had ever before been sanctioned (much less fired) for profanity,” the court noted.   A Pier Sixty representative said the company had no comment on the court’s decision when reached by Marketplace.

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We’ve heard a lot of questions recently from clients and readers regarding how ETFs might affect financial markets. The short answer is “nobody knows.” The long answer is researchers are trying to figure it all out. In this piece we […] The post Current Research On How ETFs Can Affect Financial Markets appeared first on ValueWalk.

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On the heels of the Dow soaring to the 21,000 level, today a legendary short seller warned "We are in Fantasyland" as stocks soar and gold, silver and the miners are smashed. The post Legendary Short Seller Warns “We Are In Fantasyland” As Stocks Soar And Gold, Silver And The Miners Are Smashed appeared first on King World News.

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FORECASTS & TRENDS E-LETTER by Gary D. Halbert April 25, 2017 44% of US Households Don’t Pay Any Federal Income Tax 1. 44% of Households Don’t Pay Any Federal Income Tax 2. Lion’s Share of Federal Income Taxes Paid by […] The post Despite Record Tax Revenues, Budget Deficits Remain Huge appeared first on ValueWalk.

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amazon echo issues by  JoyOfAndroid Amazon Echo is an amazing addition to any smart home and makes for a great start when buying smart devices. Echo and the smaller Echo Dot still have some kinks to work out, but they’re […] The post Amazon Echo’s Biggest Hardware Problems appeared first on ValueWalk.

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The first round of the French presidential election is now complete, with only two candidates remaining: Candidate % Vote (Round 1) Emmanuel Macron 23.9% Marine Le Pen 21.4% François Fillon 20.0% Jean-Luc Mélenchon 19.6% Benoît Hamon 6.4% Nicolas Dupont-Aignan 4.7% […] The post France: Macron Vs. Le Pen To Decide Fate Of EU [INFOGRAPHIC] appeared first on ValueWalk.

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Likes and shares, the glue that holds our society together. A  like can cure cancer, save a child in Africa and is clearly more important than whatever your parents have to say to you.   Of course, I am just kidding, but you have […] The post How Addictive Is Facebook According To Psychology? [INFOGRAPHIC] appeared first on ValueWalk.

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Key takeaways Though political considerations have dominated the conversation around European investing (for good reason), fundamentals are the main driver. Europe has emerged from its earnings recession, and expectations for 2017 appear optimistic given the economic fundamentals. European election results […] The post Europe Enters The Tour De France appeared first on ValueWalk.

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Actions in more than a dozen cities and letter from more than 75 organizations maintain pressure on Wells Fargo to change its behavior and make management and board changes April 25, 2017:  As Wells Fargo’s Annual Shareholder Meeting took place […] The post Activists Challenge Wells Fargo Directors At Shareholder Action Across The Country appeared first on ValueWalk.

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At a recent symposium in Philadelphia, former U.S. Surgeon General Vivek Murthy had a question for the audience: Does society consider emotions a source of weakness – or power? “Weakness” was the consensus among those who raised their hands, but […] The post Emotions As ‘Power’: How To Handle Chronic Stress appeared first on ValueWalk.

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The rules around IRAs are really complicated and Wes asked if we could share our flow charts on the subject so others could potentially benefit from the work we’ve done to help make the IRA decision tree more manageable. There […] The post Visualizing IRA Rules Using Flowcharts appeared first on ValueWalk.

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Amazon stock was little changed on Tuesday as analyst reports offering a preview of the online retailer’s next earnings report continued to pour in. In a bold contrarian firm, one firm downgraded it, running in the opposite direction of almost […] The post Amazon.com, Inc. Stock PT Upped By 1 Firm, Downgraded By Another appeared first on ValueWalk.

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It looks like Prenda's Paul Hansmeier isn't nearly as interested John Steele in striking a deal with the feds. Of course, Steele folded immediately, offering up Hansmeier as bus undercoating, which likely means Hansmeier isn't being feted by feds with plea deals. The 17-count indictment relayed a story familiar to Techdirt readers, since we have covered nearly every part of the scam: a get-rich-quick scheme that paid off at first for Prenda, but quickly unraveled as courts (and many

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Quincy Lee is a man of patience that is currently being tested in the Chinese market. The investment manager driving returns for nearly $1.1 billion under management at Teton Capital Partners has been vocal regarding Chinese markets in the past. […] The post Chinese Housing Shorts Vex Teton Capital Partners appeared first on ValueWalk.

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In recent weeks, New York has been something of an exit hotspot. Moat, an adtech company that had raised $68 million in VC funding, was acquired by Oracle last week in a deal reportedly valued at nearly $1 billion. And […] The post The Top 8 Investors In New York Seed Rounds appeared first on ValueWalk.

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WASHINGTON, DC — Tomorrow the Senate Judiciary Committee will hold a confirmation hearing for Makan Delrahim, Trump’s nominee for Assistant Attorney General of the Department of Justice’s Antitrust Division. The DOJ’s Antitrust Division reviews and makes decisions on corporate mergers, […] The post Senate Judiciary Committee Must Carefully Assess Delrahim In Light Of Potential Agribusiness Mergers appeared first on ValueWalk.

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We’ve all been there: a perfect photo ruined by the lack of a smile. However, there’s a new iPhone app called FaceApp that claims to be able to add one to any photo. Using neural networks, the app is able […] The post Add A Smile To Your Photo With FaceApp, Just Don’t Use The Spark Filter appeared first on ValueWalk.

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