US college graduates cannot afford the glorious consumerism that has come to define the nation
Once upon a time, achieving the American dream required a bit of consumerism, like owning a home and an automobile. Today, however, an increasing number of youth, confronted as they are with deep economic uncertainty, have stepped back from chasing the seductive illusion.
In what has become something of an American rite of passage, millions of young people each year leave the family nest and head off for university, which is typically followed by starting a career and family of their own. Yet the decades-old tradition has suffered a setback of late as many graduates are scampering back home once they get a taste of the harsh economic realities beyond the sheltered college campus, like affording their own home or apartment.
Not since the aftermath of the Great Depression has the US witnessed anything like it: 45% of all Americans ages 18 to 29 – about 23 million young men and women – are still living with their parents, according to a survey conducted by Harris Polls on behalf of Bloomberg News.
The newfound preference for life in the familial basement is no surprise considering that mortgage rates currently stand at a 22-year high (7.23% on a 30-year fixed-rate mortgage), while house prices have gone through the proverbial roof. For the second quarter of 2023, the average sales price of homes sold in the United States was $495,100, just $60,000 below the record average price set at the end of 2022. Since the beginning of 2019, the cost of buying a home has risen by more than a hundred thousand dollars. Not surprisingly, mortgage demand has recently sunk to a 28-year low, with applications down 44% from last year.....more below
https://www.rt.com/news/585391-us-college-lack-consumer-income/
The Islamic Revolution Guards Corps (IRGC) warns the enemies that any act of aggression against the Islamic Republic will not go unanswered.
In a statement on Thursday, the IRGC issued a “stern warning” to the enemies after US forces launched strikes against the southern Iranian port city of Bandar Abbas.
Following the US military attack on a point on the outskirts of Bandar Abbas Airport with aerial projectiles, the IRGC carried out new strikes targeting the US air base from which the attack originated in the wee hours of Thursday, it added.
“This response is a serious warning to the enemy that they should know the act of aggression will not go unanswered,” the IRGC emphasized.
The elite military force warned of a “more decisive” response if the enemy repeated any act of aggression.
It also said the responsibility for the consequences of any IRGC response lies with the aggressor.
The statement comes after the IRGC Navy on Thursday forced an American tanker to turn back. The tanker ...
Volker Turk has warned that efforts to advance reparatory justice are facing resistance in “certain quarters,” and urged countries to back Africa’s push.
Reparatory justice for historical crimes, including colonialism, enslavement, and the trade in enslaved Africans, is crucial to dismantling systemic racism, UN High Commissioner for Human Rights Volker Turk has said.
Speaking at the UN Permanent Forum on People of African Descent on Tuesday, Turk linked present-day discrimination against people from the continent to the enduring legacy of colonialism and enslavement.
”Racism and dehumanizing rhetoric continue to permeate public institutions, communities, and online platforms,” he said, according to the UN Press Service. Turk noted that “digital technologies, including AI, are reproducing and amplifying existing biases against people of African descent.”
The remarks come weeks after the UN General Assembly adopted a resolution declaring the transatlantic slave trade “the gravest...
The US VP had to defend President Trump’s Gaza policy at a rally on a Georgia college campus.
US Vice President J.D. Vance was forced to defend Washington’s policy in Gaza after he was booed and heckled at a key MAGA event on Wednesday.
Co-founded by the late Charlie Kirk, Turning Point USA (TPUSA) is a conservative student group that has long been seen as a strong support base of President Donald Trump’s MAGA movement but is now showing apparent cracks.
Less than 15 minutes into a TPUSA event at the University of Georgia on Wednesday, Vance was interrupted by hecklers over US policy in Gaza, with one audience member shouting, “Jesus Christ does not support genocide!” As he attempted to respond, others shouted, “You’re killing children!” and “You’re bombing children!”
Vance replied by referring to Trump’s achievements as president, including securing a fragile ceasefire in Gaza, something he said the previous administration of Joe Biden failed to do.
“I ...
