Cats, charts, and politics
Good news! Thanks to Obamacare, medical debt is way down. But not everywhere:
This is from a study published in JAMA a few months ago. In states that expanded Medicaid, serious medical debt (i.e. debt in collections) has been cut in half. In states that didn't, medical debt has stayed about the same. And needless to say, this debt is mainly a problem for those with low incomes.
Yesterday's post about college grads pulling in starting salaries of $100,000 has prompted me to produce a chart showing the equivalent of $100,000 over the past century or so. Here it is:
If you made $18,000 in 1970, that's the equivalent of making $100,000 today.
It's fine to be anti-Russia right now. Hell, it's hard not to be. It's OK to express this by writing about it; boycotting Russian products; supporting sanctions against Russia; hoping Vladimir Putin gets frogmarched to The Hague; and so forth.
But in the spirit of avoiding another Freedom Fries folly, there are some things that range from dumb to definitely not OK. For example:
You get the idea, I hope.
I just picked up some prescription eyedrops from the pharmacy. I don't have any vision insurance, so this was an all-cash transaction.
The clerk at Walgreens told me it would cost $365. Hoo boy. But if I joined their club it would only cost $104 plus $20 for the first year's fee. Great! Sign me up.
But think about this. At $104 Walgreens is still making a profit, so let's figure this stuff costs them around $70 or so. That means the list price is more than a 400% markup from their wholesale price.
That seems like an awful big penalty for not having insurance, doesn't it?
This is a grape juice lupine in a picture taken last year. It's one of the last wildflowers in my queue, but wildflower season is coming up soon so I should have a whole new set of pictures before long.
The Census Bureau released its analysis of the 2020 census today. Here is their estimate of overcounts and undercounts of the four largest demographic groups:
White and Asian people were overcounted more than in 2010, while Black and Hispanic people were undercounted more than in 2010.
For researchers, this stuff gets weighted and corrected, but for redistricting purposes it doesn't. I guess that's mission accomplished for Donald Trump and Wilbur Ross.
A reader emails with a question:
Could (would) you prepare a chart of gasoline prices (adjusted for inflation) say from 1950 to the present? I think it would be very informative.
Yes indeed! I'd be delighted. Here it is:
Data through 2021 is annual. Data for 2022 is the latest and greatest for this week. Inflation is adjusted using the implicit GDP deflator, which is the EIA's preferred measure.
The Wall Street Journal reports that raw recruits at big tech, finance, and consulting firms are being offered six-figure starting salaries. This is making their less lucky colleagues who graduated a few years ago unhappy:
As wage inflation hits campuses during a roaring economic recovery and tight labor market, the next cohort of frosh workers may be greeted by grouchy colleagues—some just a few years older—who are jealous and concerned. Some say new hires who don’t know what it is like to make less than $100,000 could be entitled, or out of touch with those of more modest means.
ZOMG! They'll be out of touch with the folks who were forced (for a year or two) to live on (slightly) less than $100,000! They'll never know what it's like to scrimp and save!
Somebody please shoot me.
For at least another month you'll need to mask up on planes, trains, and buses:
The Centers for Disease Control and Prevention is developing guidance that will ease the nationwide mask mandate on airplanes, buses and other mass transit next month, according to a U.S. official, but in the meantime the existing face covering requirement will be extended through April 18.
The requirement, which is enforced by the Transportation Security Administration, had been set to expire on March 18, but was extended by a month to allow the public health agency time to develop new, more targeted policies. The requirement extends to planes, buses, trains and transit hubs.
Personally, I don't care about this until May 18. But it would sure be nice to have the mask mandate gone by then.
Today is inflation day, and the BLS reports that the US inflation rate rose in lockstep with the European rate announced a few days ago. The headline inflation rate went up from 7.1% in January to 7.9% in February:
Average weekly earnings, adjusted for inflation, declined 0.8% from January to February. That's an annualized rate of about -10%.
Obviously Team Transitory took another big hit last month. It looks as though high inflation is lasting longer than any of them expected.
And here's one more takeaway: Corporations are using the current high inflation rate as an excuse to raise prices on just about everything. However, despite their claims of a workforce shortage, they are somehow finding the fortitude to avoid raising wages for their workers. Funny how that works.