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Barry Ritholtz: A Latte A Day Isn’t Going to Ruin Your Retirement: Take That Suze Orman !
I find the generational and classist finger wagging from rich old folks like Orman obnoxious and absurd in the extreme. There are always these articles complaining about young people "wasting their money" on lattes and avocado toast. Why aren't there articles about the older generation wasting its money on aged scotch, gun collections, cigars and foreign-made mid-life crisis convertibles? Lattes at least help make you work harder and be more productive so you can have more money to invest. I don't think the younger generation is any more wasteful than its elders. In fact, there's evidence that they are actually smarter about money with regard to home buying and lower cost investment choices. This whole debate about people not saving enough is really a smokescreen masking the fact that inflation-adjusted wages have not gone up with profits in the last thirty years, and one party wants to gut Social Security.
The classist/classic old phartage Lewis writes about is on display in the comments on the article. The problems are lousy wages and high costs, as Barry R. says.
Nicely articulated by @LewisBraham. Thank you. (I too can do without Suzie O.)
Re “aged scotch” ... Just for accuracy: All scotch is aged (minimum of 3 years in oak casks - by law). That’s the only kind there is.
Here’s the exact language from the Scotch Whisky Regulations 2009 (SWR): “ (Must be) wholly matured in an excise warehouse in Scotland in oak casks of a capacity not exceeding 700 litres (185 US gal; 154 imp gal) for at least three years”
@LewisBraham- Right on, bro! But let's be fair to the "one party"... it's not as if they are amateurs trying to gut Social Security... look at all the time, work, preparation and practice they've put in on Obamacare as a warmup.
A coalition of state attorneys general is suing the Trump administration for weakening the federal nutrition standards for school meals that are fed to about 30 million children across the country.
"Over a million children in New York — especially those in low-income communities and communities of color — depend on the meals served daily by their schools to be healthy, nutritious, and prepare them for learning," New York Attorney General Letitia James said in a statement announcing the lawsuit. Joining James in the lawsuit are the attorneys general of California, the District of Columbia, Illinois, Minnesota, New Mexico and Vermont.
As we've reported, last year the Trump administration gave school lunch administrators more flexibility in serving up refined grains, including white breads, biscuits and white pastas. The move weakened standards set during the Obama administration aimed at serving more nutritious and fiber-dense whole grains, which are a key part of a healthy diet.
In addition, the Trump administration put the brakes on targets to reduce the amount of salt allowed in school meals. At the time, U.S. Department of Agriculture Secretary Sonny Perdue wrote: "If kids are not eating what is being served, they are not benefiting, and food is being wasted."
Comments
Re “aged scotch” ... Just for accuracy: All scotch is aged (minimum of 3 years in oak casks - by law). That’s the only kind there is.
Here’s the exact language from the Scotch Whisky Regulations 2009 (SWR) : “ (Must be) wholly matured in an excise warehouse in Scotland in oak casks of a capacity not exceeding 700 litres (185 US gal; 154 imp gal) for at least three years”
Source - https://en.wikipedia.org/wiki/Scotch_whisky
Attorneys General Sue Trump Administration Over School Nutrition Rollbacks
Here's a report from NPR:
A coalition of state attorneys general is suing the Trump administration for weakening the federal nutrition standards for school meals that are fed to about 30 million children across the country.
"Over a million children in New York — especially those in low-income communities and communities of color — depend on the meals served daily by their schools to be healthy, nutritious, and prepare them for learning," New York Attorney General Letitia James said in a statement announcing the lawsuit. Joining James in the lawsuit are the attorneys general of California, the District of Columbia, Illinois, Minnesota, New Mexico and Vermont.
As we've reported, last year the Trump administration gave school lunch administrators more flexibility in serving up refined grains, including white breads, biscuits and white pastas. The move weakened standards set during the Obama administration aimed at serving more nutritious and fiber-dense whole grains, which are a key part of a healthy diet.
In addition, the Trump administration put the brakes on targets to reduce the amount of salt allowed in school meals. At the time, U.S. Department of Agriculture Secretary Sonny Perdue wrote: "If kids are not eating what is being served, they are not benefiting, and food is being wasted."