The typical American family spends half its income on housing and transportation. The typical Egyptian family spends half its income on food.
This week, we looked at how health care, education, and cell phone bills have eaten into American budgets since the recession. But let's take the global view. What do family budgets look like in Egypt? Or Indonesia? Or China? The Credit Suisse Emerging Consumer Survey asks thousands of respondents across eight developing countries -- the three above plus India, Russia, Brazil, Saudi Arabia, and Turkey -- to say how they spend money on categories like cars, food, and phones. Those eight graphs, with key stats from the report, are below. Some light analysis for the road comes at the bottom.
GDP per capita: $1,382
Key stat from the Credit Suisse report: "70% of Indians say they have no computers in the home. Only 19% of respondents register having access to the internet."
Egypt GDP per capita: $2,892
Key stat: "There is [an] ongoing red flag raised by exposure to food with its near 50% claim on the household income of Egyptian consumers. Ironically, plans to cut government spending on food subsidies to strengthen state finances, could in itself increase inflation and undermine consumer sentiment."
Indonesia GDP per capita: $3,456
Key stat: "The risk that always exists for the Indonesian consumer is the sensitivity of food prices. Food consumes a large proportion of the household budget. Upward pressure on prices would threaten to crowd out other discretionary spending."
China GDP per capita: $4,833
Key stat: "The two categories that stand out are healthcare and education. The only country with comparable momentum in healthcare spending is Saudi Arabia. Only Saudi and India had stronger readings on extra educational spending ... At nearly 30% of monthly income, [China's savings] is the highest in the survey."
Turkey GDP per capita: $11,054
Key stat: "Expenditure in [housing] (at an estimated 24%) is the highest of any country in the survey. This looks to be more out of necessity than desire. The proportion of people registered as renting their property is among the highest in the survey. Turkish economic growth over the past decade, and the ensuing urbanization, has led to high inflation in the housing sector."
Brazil GDP per capita: $12,423
Key stat: "The Brazilian consumer continues to stand out as the most optimistic across our survey. Barely 7% of household income is registered as saved and over a half of respondents suggest they have no extra cash for savings. Given the strength of projected real income growth, this is extraordinary. It is more typical of the countries where the consumer is being seriously squeezed than one where finances seem robust."
Russia GDP per capita: $13,543
Key stat: "Despite the structural support there has been for the Russian economy in recent years from commodity prices, there has not been a notable trickle down to the average consumer. Optimism remains the lowest of the BRICs. The inequality of income suggests that growth opportunities are played mainly at the high-income end in Russia."
Saudi Arabia GDP per capita: $21,685
Key stat: "While inflation has been a negative factor in our emerging economies sur- veyed, including Saudi Arabia, there is a stabilizing effect from government pol- icy. Robust oil revenues (a driver of infla- tion for others) have provided govern- ment spending with the firepower to support public sector incomes and boost spending more generally. We have seen a government pledge to spend USD 130 billion on housing and job creation this year."
Two big ideas for the road: Houses and food. Everybody
needs somewhere to live and something to eat. But you can learn a lot
about a country by looking at housing and food spending. Here's how the
U.S., where middle-class families spend about a third of their income on
housing, compare to the developing economies in this survey.
And here's the story with food.
don't want to push this point too far, because these sort of surveys
have obvious limitations. Tremendous income inequality in developing
countries with hundreds of millions of people makes it impossible to
tell the story of the frothy middle class *in one graph.* But the bigger
picture is clear and uncontroversial. When families earn more income,
they can afford to eat more and buy more clothes, but the real shift is
from those essentials to bigger better houses, education, and health
In the United States, when an unmarried man has a baby, his partner can give it up without his consent—unless he happens to know about an obscure system called the responsible father registry.
Christopher Emanuel first met his girlfriend in the fall of 2012, when they were both driving forklifts at a warehouse in Trenton, South Carolina. She was one of a handful of women on the job; she was white and he was black. She ignored him at first, and Emanuel saw it as a challenge. It took multiple attempts to get her phone number. He says he “wasn’t lonely, but everybody wants somebody. Nothing wrong with being friends.”
Emanuel, who is now 25, describes himself as a non-discriminatory flirt. He was popular in high school and a state track champion. According to the Aiken High School 2008 yearbook, he was voted “Most Attractive” and “Best Dressed.” Even his former English teacher Francesca Pataro describes him as a “ray of sunshine.” Emanuel says he’s “talked”—euphemistically speaking—with a lot of women: “Black, Puerto Rican, Egyptian, and Vietnamese.” But before he met this girlfriend, he says, he had never seriously dated a white girl.
“Here is what I would like for you to know: In America, it is traditional to destroy the black body—it is heritage.”
Last Sunday the host of a popular news show asked me what it meant to lose my body. The host was broadcasting from Washington, D.C., and I was seated in a remote studio on the Far West Side of Manhattan. A satellite closed the miles between us, but no machinery could close the gap between her world and the world for which I had been summoned to speak. When the host asked me about my body, her face faded from the screen, and was replaced by a scroll of words, written by me earlier that week.
As the Vermont senator gains momentum, Claire McCaskill rushes to the frontrunner’s defense.
Obscured by the recent avalanche of momentous news is this intriguing development from the campaign trail: The Hillary Clinton campaign now considers Bernie Sanders threatening enough to attack. Fresh off news that Sanders is now virtually tied with Hillary in New Hampshire, Claire McCaskill went on Morning Joe on June 25 to declare that “the media is giving Bernie a pass … they’re not giving the same scrutiny to Bernie that they’re certainly giving to Hillary.”
The irony here is thick. In 2006, McCaskill said on Meet the Press that while Bill Clinton was a great president, “I don’t want my daughter near him.” Upon hearing the news, according to John Heilemann and Mark Halperin’s book Game Change, Hillary exclaimed, “Fuck her,” and cancelled a fundraiser for the Missouri senator. McCaskill later apologized to Bill Clinton, and was wooed intensely by Hillary during the 2008 primaries. But she infuriated the Clintons again by endorsing Barack Obama. In their book HRC, Aimee Parnes and Jonathan Allen write that, “‘Hate’ is too weak a word to describe the feelings that Hillary’s core loyalists still have for McCaskill.”
The Islamic State is no mere collection of psychopaths. It is a religious group with carefully considered beliefs, among them that it is a key agent of the coming apocalypse. Here’s what that means for its strategy—and for how to stop it.
What is the Islamic State?
Where did it come from, and what are its intentions? The simplicity of these questions can be deceiving, and few Western leaders seem to know the answers. In December, The New York Times published confidential comments by Major General Michael K. Nagata, the Special Operations commander for the United States in the Middle East, admitting that he had hardly begun figuring out the Islamic State’s appeal. “We have not defeated the idea,” he said. “We do not even understand the idea.” In the past year, President Obama has referred to the Islamic State, variously, as “not Islamic” and as al-Qaeda’s “jayvee team,” statements that reflected confusion about the group, and may have contributed to significant strategic errors.
Most adults can’t remember much of what happened to them before age 3 or so. What happens to the memories formed in those earliest years?
My first memory is of the day my brother was born: November 14, 1991. I can remember my father driving my grandparents and me over to the hospital in Highland Park, Illinois, that night to see my newborn brother. I can remember being taken to my mother’s hospital room, and going to gaze upon my only sibling in his bedside cot. But mostly, I remember what was on the television. It was the final two minutes of a Thomas the Tank Engine episode. I can even remember the precise story: “Percy Takes the Plunge,” which feels appropriate, given that I too was about to recklessly throw myself into the adventure of being a big brother.
In sentimental moments, I’m tempted to say my brother’s birth is my first memory because it was the first thing in my life worth remembering. There could be a sliver of truth to that: Research into the formation and retention of our earliest memories suggests that people’s memories often begin with significant personal events, and the birth of a sibling is a textbook example. But it was also good timing. Most people’s first memories date to when they were about 3.5 years old, and that was my age, almost to the day, when my brother was born.
Ten years ago, prescription painkiller dependence swept rural America. As the government cracked down on doctors and drug companies, people went searching for a cheaper, more accessible high. Now, many areas are struggling with an unprecedented heroin crisis.
In a beige conference room in Morgantown, West Virginia, Katie Chiasson-Downs, a slight, blond woman with a dimpled smile, read out the good news first. “Sarah is getting married next month, so I expect her to be a little stressed,” she said to the room. “Rebecca is moving along with her pregnancy. This is Betty’s last group with us.”
“Felicia is having difficulties with doctors following up with her care for what she thinks is MRSA,” Chiasson-Downs continued. “Charlie wasn’t here last time, he cancelled. Hank ...”
“Hank needs a sponsor, bad,” said Carl Sullivan, a middle-aged doctor with auburn hair and a deep drawl. “It kind of bothers me that he never gets one.”
“This was Tom’s first time back in the group, he seemed happy to be there,” Chiasson-Downs went on, reading from her list.
As opiate abuse swells in the United States, women are particularly at risk.
Throughout the history of modern medicine, substance-abuse researchers have focused their investigations almost exclusively on men. It wasn't until the 1990s that scientists, prompted by federal funding aimed at enrolling more women in studies, began widely exploring how drug dependence and abuse affects women.
And it turns out that gender differences can be profound.
Women tend to become dependent on drugs more quickly than men, according to the most recent data from the Substance Abuse Mental-Health Services Administration. This is especially the case among those who abuse alcohol, marijuana, and opioids like heroin. Women also find it harder to quit and can be more susceptible than men to relapse, according to Harvard Medical School.
A mid-air collision in South Carolina is a reminder that there’s only so much airspace to go around.
Mid-air collisions are among the rarest but most horrific aviation perils. The most famous collision involving airliners in the United States, the crash of planes from United Airlines and TWA over the Grand Canyon nearly 60 years ago that killed everyone on board, led to dramatic changes in U.S. air-traffic control procedures. (There were twoother U.S. airline collisions in the 1960s). In 2002, a Russian passenger airliner and a DHL cargo jet collided over Überlingen, Germany. Investigators eventually traced the cause to shortcomings in the Swiss air-traffic control system. Two years later, a Russian architect whose wife and children had died in the crash stabbed to death the Swiss controller who had been on duty at the time, even though an investigation had found the controller not personally at fault.
The banking industry needs more than regulation. It needs a new culture.
The call came from another trader near midnight one night in ‘95. I assumed it was about a crisis in the financial markets, something bad happening in Asia. No, it was about a strip club. “Dude, turn on the TV news. Giuliani is raiding the Harmony Theater.”
The Harmony Theater was a two-level dive club in lower Manhattan, popular among Wall Streeters because it bent rules. It was a place where almost anything, including drugs and sex, could be bought in the open.
When I turned on the TV I saw a swarm of close to a hundred police, many in riot gear, escorting handcuffed strippers and sad-looking clients into waiting police vans. No traders, or at least none that my friends or I knew, were arrested that night.