32 Burst results for "YUN"
Bloomberg Radio New York
"yun" Discussed on Bloomberg Radio New York
"Millions of homeowners evergrande did not respond immediately for a request for comment on missing its self imposed deadline. Time for an update on global news where it's 6 minutes past the ara and we begin in China where president Xi Jinping is warning of a tough fight against COVID and interestingly he's now acknowledging some internal divisions within China. At Baxter with more from the Bloomberg newsroom in San Francisco Eddie. Yeah, exactly right, Doug, president Xi alluded publicly for the first time about the spontaneous protests that came from most COVID zero policies, but first, well, he claimed victory. With extraordinary efforts, China has prevailed over unprecedented difficulties and challenges, and it has not been an easy journey for anyone. We have now entered a new phase of COVID response where tough challenges remain. He said tough challenges remain in China's fight and he says that the nation's strategy now has been optimized to protect people's lives and minimize economic costs. She says a country has put people first and put life first all along and now has prevailed. South Korean president Yun suk Yoel says his government wants the U.S. to take on a greater role in managing nuclear weapons on the Peninsula. Bloomberg says Eun is always been hard line. Ultimately, the president saying, that's John. This is shock. He has always been having that stern approach against North Korea. And he has went further to ask the U.S. to have a bigger role in managing the nuclear assets on the Korean Peninsula. Yeah, president Joe Biden returning to The White House today told reporters he is not discussing joint nuclear exercises with South Korea at this time. Japan says over the weekend it's scrambled jet fighters and dispatch aircraft and warships to keep tabs on China's fleet of a carrier and 5 warm sheep worships that conduct a naval maneuvers and flight operations in the Pacific and also reports that the test flights by the detective flights by Chinese WZ 7s flying in the area twice, it says those are drones that says the first time it has spotted high altitude drone in the area. Hundreds of thousands of Northern California businesses and homeowners rushing to clean up the message and the damage from weekend atmospheric river storm, sylvan, mishim of bracket, who is the owner of retire restaurant in San Francisco, says people in the neighborhood were forced to swim out of the restaurant because the water came in so very quickly. And at a certain point it was clear that there was nothing to do, so we decided to evacuate. So I had people line up and then jump into chest deep water to wait out to get to the street. Yeah, there another on the way in the middle of the week. And Kathy hochul took the oath of office for a full term over the weekend, the first woman to be elected governor of the state of New York. This day belongs to little girls. And to young women, who will grow up knowing that from this day forward, there are no barriers they can't overcome. Hochul says there are fights remaining for women all the way from the Supreme Court down, and Katie Hobbs has taken the gubernatorial oath of office in Arizona, the first Democrat to hold the office since 2009. In San Francisco, Ahmed Baxter, this is Bloomberg, Doug. All right, Eddie, thank you. Let's get to our guest and Barry is with us and his founder also managing partner at thread needle, joining us from here in New York and it's always a pleasure. Happy new year. Thanks for being with us. I think we can agree that one of the key themes last year was soaring inflation and aggressive tightening of financial conditions. I'm wondering from your point of view, does the narrative change, I know we have to begin talking about recession, but are we in it at kind of an abrupt turning point or are we going to see pretty much a continuation of let's say the last quarter? Continuation of the last quarter Doug feels like it's the most likely to be on the cards, which is the fed continuing to raise rates because inflation just isn't down where we want it to be quite yet. And so until we see the data coming in through January and February, that is when I think we'll have more clarity on whether we're turning the corner here on inflation data and the fed's response to it. And in your view, how do base effects play into all this? Richard, when you say the basic facts, you mean I'm talking about last year's numbers, of course, when inflation started off in a meaningful way compared to what it is in relationship to this year. Yeah, well, I think the fact that we're starting at a point that has got prices much higher that we were means that we would hope to see the rate of inflation come down. But I think we should have the problem that we have at the moment is so much has happened over the last 6 months that was in anticipated. And which the reactions are not yet clear as to what they're going to be. So whether it's the rate at which interest rates came up, what the real impact is that on the consumer, we still don't know yet. So if our consumer default rates, for example, haven't cracked levels that would be onerous, but we still don't know. We know that savings have been depleted, but you look at inflation, we know that some elements of the U.S. economy are still really suffering from outsized increases specifically in industries that are very laboral wage intensive. So while we've seen a slowdown as some of the core issues over the last month or two, we still don't really know yet how they're going to percolate through the U.S. economy and whether it's going to be Q one or Q two or Q three before we see some stabilization. One of the stories that we've been tracking quite closely is the COVID story in China. And the disruption not only to the population there, but also the second order impact, which is supply chain problem. And the third order, I guess, effect that you could make a case for is reorganization of global supply chains and reassuring of many industries in the manufacturing economy. Is that going to be a theme that becomes more aggressive, let's say, in 2023. The theme of chaos, Doug, I think, is going to stick with us for a little bit before longer term effects. And the reason I say that is if you look at what the global response has been to China reopening. On the one hand, it's been sort of euphoria that finally there could be an unleashing of recovery and demand in China and perhaps supply chain issues being resolved. On the other hand, you're seeing whether it's the U.S. or whether it's Australia or whether it's Europe slapping testing back on Chinese tourists and Chinese travelers coming into these nations which suggests that the west has not yet convinced that the possibility of new variants emerging is under control. So I think that's why it's going to be a bumpy ride for the moment. I do think Doug you've hit on something much longer term, which is this idea of reassuring or
AP News Radio
S. Korea military sorry for failing to down North’s drones
"South Korea's president has called for stronger air defenses after its military failed to shoot down North Korean drones. South Korea's military apologized for failing to shoot down the drones that crossed the border for the first time in 5 years. President Yun sukiya set the violation from North Korea served as an important lesson to the south. It was such an incident that showed our military's readiness and training have been very insufficient over the years and it clearly confirmed that stronger preparedness and training are needed. The president also said the military will introduce high-tech self drones to stop further incidents from occurring. It was the first time North Korean trends entered South Korean airspace since 2017, the drain flights came three days after South Korea, said North Korea had launched two short-range ballistic missiles, extending its record testing activities this year. I'm Karen Chammas
Central Bank Executive Says Hong Kong Working On Investor Protection Measures
"1 a.m. Friday, December 2nd, 2022. Central Bank executive says Hong Kong working on investor protection measures. Central Bank governors from around the world are currently in Thailand to discuss the role of central banks amid evolving financial technology. EDU, chief executive of the Hong Kong monetary authority discussed the rise of digital assets and Central Bank digital currency CBDC and the risks associated with the new technology. Chan Yun re, governor of the bank of Korea was not so optimistic about the future of blockchain technology, especially in the monetary sector. Read more
AP News Radio
Southeast Asia leaders kick off ASEAN summit in Cambodia
"The U.S. Japan and South Korea have found a unified response to North Korea's nuclear and ballistic missile program as the leaders met on the sidelines of the East Asia summit in Cambodia President Joe Biden met separately with Japanese prime minister fumio kishida and South Korean president Yun sui before all three sat down together to discuss North Korea Biden declared that the three way partnership is even more important than its ever been when North Korea is stepping up its provocations both Yun and kishida discussed the ongoing displays of aggression by North Korea which has fired dozens of missiles in recent weeks I'm Karen Chammas
The New Yorker: Fiction
"yun" Discussed on The New Yorker: Fiction
"Hydra meal. Hi, Deborah. Welcome to the podcast. It's so good to be here. So you were a student of Yun Lee's at some point, right? That's right. I studied with there for two years at the creative writing program at UC Davis. And how was that? It was a spectacular experience. One of the reasons that I decided to apply for UC Davis was specifically to study with the end. And so being able to study under her to work with her to tender workshops. And to receive her guidance in general, it was really a dream come true. I can't begin to overemphasize what a generous and wise teacher she was. I owe her a lot. So had you read you in these work before the workshop before the class? That's right. I was doing research on the creative writing program. And then I saw Ian Lee's name. And so I thought, you know, I should read a little bit of a writing just to see what it's like. And then I was absolutely blown away at that time. I was reading a good deal of faulkner and Barry Hannah and cormac McCarthy, these very sort of stylistic, very audacious writers, I would say. And so when I read Ian's stories, I
"yun" Discussed on TuneInPOC
"In el mundo Yun Mexico.
AP News Radio
Kane nets winner as Tottenham ends tough week with victory
"Tottenham capped a difficult week with a one zero victory against Brighton Spurs dedicated the victory to their fitness coach who died during the week at age 61 Harry Kane scored for the 8th time in 9 league matches getting his head onto a cross from sun Yun in the 22nd minute Having played to a loss and a draw in his previous two matches manager Antonio Conti went with a three 5 two formation that kept brighten at bay Goalkeeper Hugo loris made a nice stop on Danny Welbeck inside the box in the first half Spurs remain third on the table I'm Dave ferry
AP News Radio
Biden begins visits to South Korea, Japan
"President Biden signed an aid bill for Ukraine and put the emphasis on security and economic development as he visits South Korea After a meeting in Seoul Biden and South Korea's new president Yun suk ew said they will consider expanding joint military exercises and affirm their shared goal as the complete denuclearization of North Korea Standing up to our shared for our shared democratic values and defending a rule based international order against threats and stability After visiting a massive Samsung semiconductor plan on Friday the president laid a wreath at Seoul national cemetery then had a two hour meeting and joint press conference with yoon followed by a banquet at the national museum of Korea And as our combined forces say
WNYC 93.9 FM
"yun" Discussed on WNYC 93.9 FM
"And President Biden is in South Korea today what do regional allies in Asia want to hear from America's leader Hate crimes are on the rise we talk with the State Department official who monitors anti semitism about how one kind of hate begets another And why did the Department of Homeland securities disinformation board disintegrate It's Friday may 20th and yes I do believe in life after love Share is 76 The news is next Live from NPR news in Washington I'm Dave Mattingly President Biden is in South Korea for the start of his first trip to Asia since taking office the president arrived a short time ago Biden and South Korea's new president Yun sang y'all are expected to focus their talks on issues such as North Korea's nuclear program COVID-19 and trade Biden and Yun are scheduled to tour a Samsung electronics plan today before Biden takes part in a full day of events tomorrow June took office less than two weeks ago Biden's trip will also take him to Japan The Biden administration and officials at the UN are expressing concerns that Russia's invasion of Ukraine could push millions more people into poverty and hunger worldwide Ukraine is a major exporter of wheat and fertilizer Secretary of State Antony Blinken shared a UN Security Council meeting yesterday examining the issue Here's NPR's Michelle Kellerman Ghana is foreign minister Shirley ayorkor Bach says the African continent is no stranger to as she puts it harrowing images of starvation caused by conflict but she noted that usually conflicts only affect those living in or near war zones Today however perhaps the first time since the Second World War we see the impact of one conflict on food security in every country Every home and on every one Blinken said Moscow was pushing a false narrative that sanctions on Russia imposed by the U.S. the European Union and others are blocking exports from Ukraine Prosecutors in Buffalo New York say the man suspected of killing ten people at a grocery store has been indicted by a grand jury on first degree murder the 18 year old appeared in court yesterday authorities say additional charges could be filed in the case including counts of hate crimes and terrorism The suspect is white those killed were black Investigators and the director of the FBI have called the shooting a targeted attack and a hate crime Phoebe Taylor of wolo with member station W SKG reports on a vigil held last night in Binghamton New York.
"yun" Discussed on WTOP
"Is WTO P news ten 53 pressure is building on the Biden administration to begin removing sanctions on Venezuela This is coming after that country's president free two American prisoners and promised to resume talks with his political opponents Nicolas Maduro's goodwill a gesture came when White House and State Department officials made a weekend trip to Caracas Russia's invasion of Ukraine has upended the world order which is forcing the U.S. to rethink its national security priorities South Korea has chosen a new leader following its closest presidential election ever By less than one percentage point former prosecutor general Yun sag yal has won returning a conservative to the presidential office after 5 years of liberal rule Aside from now building unity in a divided nation Yun will be watched closely for his response to North Korean missile tests having suggested he'll be tougher on the north which is bound to challenge him early perhaps even before he takes office on May 10th And that's reporter Alex Jensen in Seoul The university of Maryland medical systems board of directors needs a new leader Resigned yesterday effective immediately He says he's moving out of state De Paula became chairman after a major scandal erupted involving lucrative contracts for board members That included former Baltimore mayor Catherine Pugh who served three years in prison for fraud Money news at 25 and 55 here's Jeff claw But now he's down 315 points That is a 1% loss.
"yun" Discussed on WTOP
"Available at dot com This is WTO P news 6 52 now and dozens of the nation's brightest minds have come up with a blueprint for how America can transition to a new normal of living with COVID One recommendation is to begin worrying about other related ailments One recommendation is that society shift focus from COVID to major respiratory viral illnesses such as the flu You will have a lighter flu season you will have a less rhino you will have less RSV With the university of Maryland talking about the multidisciplinary recommendations detailed in the report getting to and sustaining the next normal a road map to living with COVID It would make life better than pre-pandemic if we really implement all of this Christy king WTO news An emotional hearing is planned for today in New York as 20 people whose lives have been wracked by opioid abuse will offer statements in bankruptcy court It comes as opioid maker Purdue pharma agrees to attend $1 billion settlement for its role in the addiction crisis that has claimed thousands of lives Members of the Sackler family will be listening to today's testimony The settlement plan calls for the family to give up ownership of the company so it could become a new entity with profits dedicated to stemming the epidemic in exchange the Sackler family would get protection from civil lawsuits over opioids Whistleblowers from the intelligence community get new protections in the funding bill Congress has approved Among the updates clarification that all elements of the IC are included in protections already in place and clarification that whistleblowers can call out mismanagement and not just gross mismanagement The legislation gives the IC inspector general sole authority to determine whether disclosures are of urgent concern but left out according to a reading by the project on government oversight certain confidentiality safeguards and aligning the burden of proof test so it matches that of title 5 whistleblowers Tom ten federal news network South Korea has chosen a new leader following its closest presidential election ever By less than one percentage point former prosecutor general Yun sag yal has won returning a conservative to the presidential office after 5 years of liberal rule aside from now building unity in a divided nation Yun will be watched closely for his response to North Korean missile tests having suggested he'll be tougher on the north which is bound to challenge him early perhaps even before he takes office on May 10th reporter Alex Jensen in Seoul Money news in 25 and 55 Amazon shares are about to get 20 times less expensive The company announced a 20 for one stock.
Asian America: The Ken Fong Podcast
"yun" Discussed on Asian America: The Ken Fong Podcast
"He responded back. Hi, Candice possible. I could have worded things better, but then you didn't really ask for input, I guess. Obviously, I'm not into reigning on someone's parade. And we're all in different places. I think in some respects, I've been down the road you're on. I don't think my issue has ever been editing. It's getting it right to start with in the camera. Most are not able to do that well, but you did on these images. That should be applauded. Create what makes you happy. I've always done that, but I can look back at images from 5 years ago and wonder what I was thinking. In my mind or my intent it was to say maybe I can help him not go through that duration or whatever. Main thing is you're on a good track. Keep attention on the sharpness and the post can take care of itself. However you want it to be. Best wishes to you. I really appreciated his privately reaching out to me. And I posted a response on the thread that reflected our mutual understanding and appreciation. Truth be told, I do get where he's coming from. I'd even wondered if I'd taken my sharpening too far as I was editing those images. As I mentioned the rest of that batch, I've even dialed it back a bit. And honestly, the hummingbirds do look more realistic. Now I just have to decide if that's the look I'm happiest with. Because at the end of the day, those of us who create things are working to please an audience of one. Namely ourselves thanks for listening to my story, and now sit back and get ready to enjoy. My splendid conversation with Linda Yun and sujin Li, of the yellow chair collected. You're coming. Down the path. My.
"yun" Discussed on Squawk Pod
"We look at participation of women in the economy. Your party might not always be in charge congresswoman. I don't know what might happen if without a filibuster, we could be sitting here a year from now. And you might have a look on your face like, oh my God, what are these people going to do with only a simple majority? You've thought about that, right? Are you sure we want to go there based on? I thought about that. And here's the thing. We already do it for taxes. So it's already a simple majority for reconciliation. It's $1 trillion tax bill. So why can't we do it with the investments we need? So that people can have better opportunity. All right, congresswoman, if it's good having it, as we said again on squawk box this morning, thanks for your time. Thanks for having me on. Next, on squawk pod, we're headed to China, CNBC's Eunice Yun on the ground there where COVID cases are rising in the port city of tangent. An authorities want to curb them. This a zero tolerance approach is going to be in place for quite some time, not only are they looking ahead at the Olympics, but even before that the lunar new year holiday is coming up and already authorities have been urging residents just to stay put. Get in early. Join the CNBC investing club of Jim Cramer, be among the first. Get tips straight from Kramer, the only club with exclusive trading leads for early access symmetry email at CNBC dot com slash investing club. Stand Andrew. You're listening to squawk pod. Up in Andrew, Q good morning and welcome back to squawk box right here on CNBC Sam Andrew, Sorkin, along with Becky quick and Joe kernan. At least three cities in China are now facing lockdowns to try and combat combat COVID outbreaks, which is complicating an already strained supply chain. Yunus Yun joins us right now with more. And you and this is a pretty big deal if you start thinking about the millions of people who are now in lockdown at this point. Yeah, that's right. It's actually more like tens of millions that are in lockdown or in partial lockdown. The a lot of people now have several restrictions imposed on them, including here in Beijing, the COVID center that's behind you said that they're seeing a 25% surge in demand for tests because employers as well as officials are demanding these tests for their daily work. Now, all Macron has been confirmed now in a third Chinese city, the port city of dalyan. The state media, quite late today, reported that dalyan has two confirmed omicron cases, both of those are traced back to Tianjin, where amaran was first detected, a tangent also confirmed another 93 cases and ordered businesses to close for a half day so that the city can conduct another mass round of testing of the 14 million people there. Which is a city in an electronics manufacturing area, also reported 65 new cases. Now industrial zones near a tangent port said on their social media account that their operations as well as the operations of the port are operating normally, though the extent of the potential impact there as well as in other parts of the global supply chain are still a big question mark Toyota said that its production in Tianjin has been halted, as for dalian, this is a port that's quite important to American companies that specializes in imported food, such as U.S. soybeans, also Intel, Coca-Cola, Goodyear, all have factories in dalian. And then in case there's any question mark as to how a seriously the Chinese government takes their zero COVID approach Dahlia and court today sentenced three port workers to up to 5 years in jail for breaching COVID protocols, such as wearing a mask or protective gear. Guys, you know, some obviously you've got the Olympics coming up in quick order. We're talking about three weeks till the start of the Olympics there. The zero tolerance policy is something that the Chinese have kept since the very beginning going back to 2019, 2020 when this was first starting. Is it something that at this point they are going to continue with that policy because they want to make sure the Olympics can still go off? Or is this something that is expected to continue indefinitely and even beyond the Olympics in terms of how they try and protect and stop COVID from spreading when the rest of the world seems to have moved on to reopening and kind of trying to deal the best they can? Yeah, well that's the big question, but I think as you're illustrating the main point is that this zero tolerance approach is going to be in place for quite some time. Not only are they looking ahead at the Olympics, but even before that, the lunar new year holiday is coming up. And already authorities not only here in Beijing, but all across the country have been urging residents just to stay put. As you well know, the lunar new year is a major holiday in China. It's like the biggest human migration on the planet. People go home for the holidays. It's like Christmas and Thanksgiving and new year's. I'll wrap into one. So it's an important holiday, but people are not probably going to be able to go home for a second year running because of all these concerns about the spread, especially with a highly contagious. Yeah, it's so highly contagious that it's hard to believe the incredibly low numbers. If you have a handful of cases, it's hard to assume that you can nip it in the bud, even if you are taking extreme measures and testing pretty frequently. Yeah, that's right. And also, there still hasn't been any confirmation on the exact source and also how much it's really spread in the community. And I think that's what is worrying the government here just because you are hearing about all of these different cases and as you said, you know, it is quite highly contagious and even though the 85% of the population has been vaccinated, we still don't really know exactly how effective China's vaccines, which are the only ones that you could get here are against am a crime. You said that there was demand from workers, not just from the companies themselves, but from workers wanting access to tests, is testing difficult to come by there as it has been here. No, actually, it is quite easy to get tests here. And they're actually not as expensive. I think that in the U.S., there's been a debate about how expensive they've been. But the COVID test can be as little as about a dollar ten cents. Here, sometimes they can be expensive and expensive is considered maybe about $43, but the government, one of the great things I would say about in the strong points of the Chinese government is that when they put in place a logistical system where they really want to rule things out quickly, they can. So when it comes to the COVID testing protocols, they're very, very solid. All the video that we've been watching shows people getting swabbed in their throats instead of nasally. Is that how it's been throughout? Or is that a new development as we learned that aron tends to.
AP News Radio
October existing home sales hit fastest pace since January
"Houses are continuing to sell within days of going on the market sales of existing homes are up and so is the typical price of a house last month the average home prices jumped to almost three hundred fifty four thousand dollars a thirteen point one percent increase from last October existing home sales were up eight tenths of a percent from September that's according to the national association of realtors chief economist Lawrence Yun says the housing market remains strong he credits job growth the stock market at all time highs and low mortgage rates I'm Rita fall lay
"yun" Discussed on Nerdette
"David yun is the author of version zero. It is earned at book club. Pick for this month. Read it and then tell us what you thought about it. Did it make you reevaluate relationship with the internet. What was your favorite part. Would you read a sequel lettuce no by recording yourself on your phone and then email the file to note at podcast. Gmail.com do it before friday. July twenty third and then tune in on tuesday. The twenty seventh for super spoiler discussion in a very bad move. Now i'm gonna tell you can keep in touch with us on the internet. I post many book reviews at podcast on instagram and honored at headquarters group on. Facebook is full of book nerds. You can join up there. At facebook dot com slash groups clash h. The show is produced by me and is small carter for executive producer. Is friends vanak week. We'll see you haven't you could have stopped working after selling his billion dollar mobile gaming company but he decided to take on big tack. Instead you do not need to work again. You are filthy rich man. can i say that to. They'll be richardson. I have financial freedom. This story of kevin chew this week on art of power from wbz chicago find art of power. Wherever you get your podcast..
InSAR: Tracking Natural Disasters Through Technology
"Researchers supported by nasr's applied sciences disasters program us satellites and space to gauge damage that natural hazards such as hurricanes and earthquakes. 'cause on earth one such satellite-based technology is called interferon metric synthetic aperture radar or in sar in sar can reveal surface movements down to a few millimeters even across an area hundreds of kilometers wide sang. Ho yun a geophysicist at nasa jet propulsion laboratory notes that the technology brings other advantages. Sar doesn't need daylight. We can see things ban night. Also we can see through clouds. We can see through rain. We can see through wildfire smoke and we can see through volcanic plume and other researchers at nasa us inside data to create maps. That show likely damage to buildings and infrastructure in the wake of disasters. The maps help responders and relief workers make better informed decisions and speed recovery
"yun" Discussed on WMAL 630AM
"Must get the Koven vaccine? Steven back to you? Thanks, Bill Way have the latest home sales information for you today. And it turns out that in April existing home sales across America surged 33% year over year and prices were up 19.1% year over year. The latest existing home sales report from the National Association of Real Tours also shows 2.7% dip month over month. Let's talk about the latest numbers now and what they mean to you with Lawrence Yun, the chief economist at the National Association of Real Tours, Lawrence, Welcome to real estate today. Hello is Stephen. Thanks for having me on the show? Well, Lawrence, we're so glad you're here, so we had a little dip month over month. But a huge surge year over year in existing home sales. What's going on here, Lawrence? Yeah, we did lose a step on a month to month down 2.7%. The home sales are running at an annual lives. Pace up 5.8 million. This is still good figure. I mean, if we can hold at this level, it would mark the highest sells activity and 14 years, So it is a good level. But it is no longer that above six million annualized pace that we've been seeing an autumn of last year along with him in the winter, months after accounting positional factors So the situation is that we don't have enough inventory and therefore home cells are not clicking, and that is clearly reflected and this record pace of home price appreciation. Of course, that you said Lawrence, the biggest limiting factor is the number of homes for sale. And just the other day I was talking to the National Association of Homebuilders, and they say that they're getting better and better and better and building more homes. Will they be able to meet the demand the builders they are moving in the right direction. I've been hearing that there is some difficulty in hiring new people in the logging industry at the stall meals. So some of the production cause are rapidly rising, presenting some challenges for home builders, but nonetheless they are able to pass on those costs to the consumers. Just putting the escalation price had added cost to it yet there a still able to sell the home and the demand is still strong. About 33% of 40% of homes currently sold are above this price. This a phenomenal multiple offers price escalation. Demand is strong. We simply need more inventory. And as you alluded home builders will help but also anticipate more inventory as the mortgage or parents program while he's down..
"yun" Discussed on Uncommon
"I think online changes. China's gonna stay. Yeah yeah personalization is another thing. I think people will always want more options personalization and online. I'd agree with yeah. Do you think that we've had this really interesting experiment. Recently with a client who was an alcohol brand and offend even though they've gone they've started going direct to consumers to the majority of that business like ninety percent ninety-five percent would be distribution to household names like dan murphy's boss clubs not cops etc. It was one of the few campaigns of worked with in a coma campaign where it was sort of obvious to me after the first dieter that this would never convert online simply because it is such easier to just go in store and buy the product and then in there. And it's not something unless you can get free delivery or something like that nor relied vanish forgetting it online So do you think that there are products locked that that want change from offline to online. I guess from my experience with finisher. I have a feeling that people would always tend to want to see it in a showroom. That would want to sit on the couch. Lie on a bed before they actually make a purchase. I guess those really big purchase so it is one of the things but clothing. you know. we're seeing an online train trend more often. It's as long as the riot used to buying off online. Yeah most people would be. Yeah and i guess. That's another reason why we got into socks because you have a very generic sizing system for us is just sm l. But to be honest in reality we could both probably were s m and l stretch a little and because it's marine awarded so stretchy and stays stretched once you were in one a small one and you know people can just buy it with confidence knowing that you will fit anyway yeah yeah nadi creed without one. Hundred percent agreed with that before we get into some rapid fire questions. If if you would think about any entrepreneurial latest other than rich nathan in this sort of data see space that you really respect..
"yun" Discussed on Uncommon
"Actually that would be rex's question. Sorry somewhere in china though like actually tall to so many australia manufacturers and one they can't make it at a ninety degree angle to work with yawns because fans are also very specific. As i said it's not it's not war. It's a blend. And whenever they take our arjan and they make it into something it looks just really chunky. They can't really work with our yard. It's a very specific thickness that work with so we have to talk to really the top specialists in the industry in the world who are in china who just happen to be but as that supply chain is that and i guess that's where they have all these different machines that they can test play around with and that's how they tailored to our needs and design. Yes so okay. I can see where things are going. It's sort of obvious that. I'm always interested in manufacturing just means my dad's always been in that industry so but it's pretty obvious that over time you guys gonna need to develop more and more of that stuff internally and at least owners yeah using service providers. Yeah we are definitely thinking of having owned machine and not only to make soft but also to make the yawns Was right now. We're working with the labs whereas again. It's still kind of still a third party service even though is like we have a relationship with the lab yet. Still yes pecan. Packing is all done internally. It sounds like yes it is because we yeah we gave selves selling the packs and people can pick different colors in the pack. You can get different types of socks one. Pack that means we have to pick every single every single one in put them into one pack and ship them off era. Yeah but it's good. It's look it's really exciting of i'm going to be very interested to see where you guys In two years from now..
"yun" Discussed on Uncommon
"Ten pairs or to give you an overview two hundred five pairs six pairs is quite a decent amount and a lot of people love it so much. They will just by for their families for their friends thereby for gifts because our product is something really special that you will have to experience it to know why it's good to know to not valuable thing. Yeah but it's also not too much of a hard decision to buy temp. That's really interesting too. Well yes so. We want as many people as possible to try our socks on. Yeah it's something that you can't really explain all communicate through advertisements words even visuals. You just have to feel it touch put on your feet and then go like wow. This is so comfortable. Yeah when when did you realize that was the white like a loss later to initially bring i guess even before we launched i was one of the strategies we thought of because the moment we had samples hands. We knew. it's something you can just. You can't explain. The feeling of comfort is something. You can't explain with words. Something emotional have to wear it and feel it and then love it. Yeah yeah and again the moment. We had our samples in hand with new this great products. We knew people will love. We knew this is going to spread by word of mouth and we thought if the acquisition costs is one pair of socks we can totally afford it because we are so confident that people come back and buy more. Yeah was sort of obvious. Isn't it now that you sold ten thousand poss. Yeah it works still quite a relief to work to work out but still that before we launched it. We were so confident in the product that we go to market strategy was always to get people to come back and buy more return customers. How do you think that'll change in the way that you get that initial loss later customer in.
"yun" Discussed on Uncommon
"Took us months because it we did it during covid yeah. It was hard to communicate with the factory to get the samples of a lot of work actually went into the development off the yard itself and after months and months of developing back and forth. We finally ended up with the supreme court blend which is a fifty fifty blend and so that firm in germany would they. They sort of acted like y'all are indeed. Did you then pull today. Manufacturer the bulk of the thread. Or did you then put into somewhere like china and just spec it out. Yeah we put it into china and we expect it out because racks again. As i said he. He is kind of specialist in the textile industry already. So we need it as a starting point really and we have access to labs. We have access to all the specialists that does that does rnd. And once they see the concept is just about testing. And you know getting it done. Yeah and it makes sense because it's one of the things that birth reach an ice have spoken about every time because someone in he and we talk about data. See you need to own as much as possible. You want the supply chain you want to own your product from material through the end to the retail calm so you manage to cost and then you can bring the best price to your customers. Yes you you intrigued by this episode. If sir go to foot on the website and e u A double a. Dot com dot com. We to give you an insight..
"yun" Discussed on Uncommon
"It will be china. Probably spend thirty forty years building that supply chain and easily cincinnati and it's across the entire china is not just that area. Yeah so okay. So you would have learned a lot about production product. Wasting time obviously curious. I bro i you would have like. You said you wanted to learn more about how company goes from ten to one hundred. You mentioned the insure came via rich. He did mention about pay when he was in. I think you you saw it broza about twenty eighteen or is it early. Twenty fifteen actually are radha traditionally. What was your first impression of reach out enough. He was still working there. Yeah he was of course I mean a new rich back in uni and we actually had off. I ever entrepreneurial project together which is in two thousand. Eight's we to see the olympics. Like the torch thing going around in camera and me enrich. We teamed up when decided to printed own t shirts and we just saw them at the parade and we sold like twenty dollars should we printed like two hundred of them. We took us three days and nights. Just hand printing. We did it all self. We got through automates to help. But with design the whole t shirt we cut the screen prince thing and we bought the ink the paints and we hand screen printed everything two hundred t shirts and we made a couple of hundred bucks much though we got the experience and then we went to sydney full trip and spend all the money just on traveling having fun having fun. Yeah really great experience with rich and ever since we've been pretty good friends and i think when he saw the brussel i think one year later he asked me to join. That's twenty fifteen. Yep and he is always a very fast efficient problem-solving type of person. Yeah he's always really sensitive with opportunities and something. I'm always learning from him. And when you say sensitive is in what do you mean by that. I mean he can always almost like a natural instinct that he can sense an opportunity. I k- yeah yes. So he's very aware very aware. Yeah yeah i think. Even the other day i had like a quick zoom call with him. He just He cuts through bullshit. Really quickly yes. Exactly things that i've noticed about him. Yeah he's just. I think what it comes from the fact that the guy had a really interesting upbringing. And he's like he's just a real old fashioned like operator. Yeah definitely I was reading reading this book. The other day about like cable cowboys like how the cable industry sought out as always this reference to like the hatchet man..
"yun" Discussed on Uncommon
"Yeah so it's almost like a realization. That are might not like this. As much as i thought i would end so i try different things that you can see. I try to do tv. Try to build. Production also went independent on own documentary which also got a few awards in some international film festivals. But then after all of that. I was like certain alright. Film is actually my passion and so i came back to australia and started doing these small advertisement productions which i found. I have a much more passion. Because i've always had a passion for has is weird but yeah and ever since you know. I've been doing marketing advertising videos for commercial purposes. And i guess i've always been an entrepreneur by heart probably came from my family reineck ends. I always wanted to my own thing. And i guess that's probably why joined brosseau just to learn up close at the front row to see how a startup can scale from ten to one hundred employees so your parents what did what did they do when you were growing up so my dad was always an entrepreneur. He's from hong kong. He ran a couple of different businesses in the days and since the financial crisis has hit hong kong. He sort of went down from their year. And is yeah. It's really interesting story because he actually has three rules for me and my brothers okay. Yeah one is never gamble to is never get into the stock market okay because he used to run these financial firms and financial crisis hit report and the third. One is never start your own company because it's such a big risk. Well and he's hoping because that's how he lost everything he read his own company yours in finance yours in something market and everything because of he did all these things. Yeah yeah and i think of protests took it up the brothers follow his rose or just entrepreneur by hot so when you say the financial crisis you j two dozen night i know earlier..
"yun" Discussed on Uncommon
"So pair found of working broza. dc brand. You've taken a funding round. Build yourself but it's not just you. i guess. Some of the investors like rich calling it. The comfy is sucks in the world. I know the initial story that you were frustrated with getting holds any socks and i don't know why but never thought about this because i have the same issue constant fucking holes in socks. The best socks that you can buy that i found are the some at least for guys like some brand coming from the brand. But something from myra days but again just break real quickly or you go to like a really fancy shoes stole like a double monk and you but then you get as the rule thin sort of materials and they just too slippery. The too delicate away some sort of issues. So you've of got this. You've actually trademarked at the supreme cool. Blend fifty walk on which iphone very smart. Tell us about those initial days of discovery with the manufacturer in germany. Yes so as you might know quite a bit and whenever we so we often like to camp near the beach. Okay super cold. Y'all get up in super cold mornings and you want to serve the first waves and one. It's really cold and two. If you were like marina socks that keeps you warm. They are pretty fragile and easily. And that's why they will get holes in it so that's when i started to think about the council. Can we make better socks and the moment you start thinking about it. You saw discovering all these other problems you have socks like it often stinks. Everyone sucks will stink and no one ever thought about. Can we make stocks. Sox southern stink. They often absorbed sweat and they get it. You know saggy sweaty. It's disgusting immediately immediately right often. They're really cold. Of course one of biggest problems get holes in them. They're not comfortable when you walk run. They don't have enough padding awfully or they like ankles often the where things space often keeps. Slipping down your heels. Fuck night that is one of the biggest problem like you start thinking about. So i guess that's when i started to hate us actually so many pain points and socks. Why don't we just redesign whole thing and boy. Solder thing about redesigning it obviously warmth and the stinking issue is one of the biggest problems out of difficult problems i would say to solve. Because it's it's within the material itself so if you if you're going with cotton socks it's never going to solve the problem because cotton is naturally. It is what it is right but you go with pure marino socks with kind of solve the thinking problem and a warm problem but as i said is very fragile fiber so it can break easily. It's sometimes it's too thin so we looked at the possibility of blending wall. And that's when the concept came along on who who thought of that was at the manufacturer. Was you guys so we were talking about the chinese supply chain for a while just now. I'm actually reluctant team up with rex. My co-founder so he actually has a family background. In textile he's family has been running textile factories and companies for like thirty plus years so he is actually very specialized and knowledgeable in all textile knowledge. So he's the one who actually consulted his dad. He's his friends. In china at the top specialists in china in that the king of supply chain on textile every specialist every top specialist came back to him with the same answer. They said you will have to plant and cotton and even wrecks and his dad. They both came down to the same conclusion as well. They just sort of the question to the specialist. And that's when we thought art seems like this is the one and so we just keep getting from every specialist but the problem is how do we do it. No one does it. I was really surprised about that time. No one does yeah. We were surprised to find out. Why is no one doing it so the more we did our research to more. We've found out that okay. It's actually technically extremely difficult. Because war is animal fiber and cotton is plant fibre and plant fibers and animal fibers. They don't go hand in hand almost just rejecting each other when you try to blend them into one threat so it requires supreme crossman sheep ship to really make this work and we. Obviously we did our research and we've found that there is actually an workshop in germany. That can do it which was mind blowing for us so we got in touch with them. You know we sort of talked about. How can technically be done. We learn from them and we took and we came back with developed it. Also well okay. So because one of the things i was thinking about. Is this blending of the the thread. 'cause like my novice non takes out. Brian is like You know they just put. If you imagine like little lines of thread you had like a threat of you have to merge the physical original product into the actual threat itself. Thread is exactly fifty fifty so the threat is self. You know you'll be playing the fiber. It's not just a five. You're not taking a cotton threat and together. It's not that simple. We are planning them at like a micro level. Okay so technically extremely hard to to create. It took us months because it we did it during cove. It goes to communicate with the factory to get the samples of a lot of work actually went into the development of the itself and after months and months of developing back and forth where we finally ended up with the supreme cullin which is a fifty fifty plan and so that firm in germany would day. They sort of acted as like you'll are in dade then pull today manufacturer the bulk of the threat. Or did you. Then pull it in somewhere like china and just spec it out. Yeah we put it into china and we expect it out because racks again. As i said he. He's kind of specialist in the textile industry already. So all we need is a starting point really and we have access to labs. We have access to specialists that. Does that the indy. And once they see the concept it's about testing and getting it done and make sense because it's one of the things that birth reach an ice and have spoken about every time we get someone in here and we talk about data. See you need to own as much as possible. Yeah you want to own the supply chain you want to own your product from material and to the retail so you manage to cost and then you can bring the best prostitutes..
All Things Considered
How 'sex addiction' has historically been used to absolve white men
"A mass shooter drove into Atlanta and targeted three spots in the area. He killed eight people, six of whom were Asian women. Law enforcement officials have held off on calling the attack racially motivated. They say the perpetrator instead blamed his sex addiction. Well, experts and many others say it is damaging to separate race from this conversation because it ignores the history of hyper sexual ization and fetishization of Asian women in the U. S. Nancy Wang Yun is a professor of sociology at Biola University. She studies pop culture and specializes in race and ethnicity in media, particularly in Asian American representation. She joins us now to help provide some context to this whole conversation, and just a warning. This conversation contains content that may not be suitable for all listeners Welcome. Thank you for having me. So when you first heard that authorities in Georgia we're holding off on calling this a racially motivated attack, And instead, they focused on the suspects. Quote unquote sex addiction, as if that were a separate alternate explanation for these shootings. Tell me what you first thought of that. My first thought. I don't think I can say on public radio. I was just so angry, and I just thought, you know, and also thought like, you know, they just these police officers, and maybe all of America just doesn't understand. How racism and sexism intersect and this man, I mean, let's get into it. This man, according to law enforcement, said that he committed What he did this week to quote eliminate his temptations. Only as you know, how does that Connect to your understanding of the way Asian women have been hyper sexualized and fetishized in American society, like Can we just take a moment for you? And I to say out loud what those sexual stereotypes of Asian women are? I think submissive and I've actually gotten this is, you know really personal, But I've actually been asked if my anatomy is different. So a kind of very fetishized exotic sized that we're somehow even physiologically different from other women on guy thing that goes back to history of fetishization of women of color in this country. And servile. Um what else? Exotic Lotus flowers? Yes. Dragon Lady's temptresses. Yes. And I think with the lotus blossom like death at the end of movies like there, they never survive. Esso it Z kind of Madame Butterfly. Miss Saigon thing where You know that you want you want them, But then you also you know, can't have them. They're like they're taboo. They're forbidden. And let's not forget full metal jacket. Yes. S O the prostitute right? The Asian prostitute and that's a very common stereotype. And the kind of I think propositions that Asian women get in public all surround full metal jacket, quotes and they're They're horrible and everyone knows them, even though the movie is rather old, but it's now part of Society or culture in general, like life imitating art and imitating kind of an imagined life, right, Right. So when you heard reports that this man is perpetrator said that he He committed these shootings to quote eliminate his temptations. What did that say to you about his motivations? First of all, I thought that he completely dehumanized these these women, right? He labeled them as temptations to be excised to be to be eliminated. I mean, these are human beings, right? He is the one. If he has an addiction, he has the problem. Y treat whatever fetish that he has, you know, with Asian women love Y treat the women as the problem. I mean, this kind of externalization of his own issues is it was so horrible to hear. And as an Asian woman it felt like Holy dehumanizing.
All Things Considered
Housing Boom: Sales of Million-Dollar Homes Double
"The pandemic is driving a record setting boom in the housing market, according to new numbers just out today, and as NPR's Kris Arnold reports, it's also exposing the ever growing gulf between the haves and the have nots in America. Overall about 20% more homes were sold in September compared to a year ago. But the most dramatic increases their happening at the top end of the market. Sales of homes costing a million dollars in up have more than doubled since last year. I don't ever recall home sells doubling in a 12 month times that Very unusual. That's Lawrence Yun, the chief economist of the National Association of Realtors. He says people are working from home while juggling their kids, remote schooling him and many who can afford to are buying bigger houses. Mortgage companies are making money hand over fist. Right now they're doing so many more home loans. Some are running ads like Thiss and although together is great, together with more space Is better. It's not just the super rich buying bigger places home selling between 255 $100,000, though, saw a 36% jump in sales. Meanwhile, the median home price has also just hit a new record. $312,000 Now you did great news for homeowners as they're seeing equity devised and why, but Yoon says prices are rising too fast. Economists like to see home prices climb in line with people's wages. But home prices, he says, are way beyond that. He will eventually lead to a talking point where first time buyers simply cannot show up to the market because they can't afford to buy any house that actually want to live in. And he's worried that that will lead to even greater income inequality. A that virgins in society you have to have With homeownership gaining their equity. Those people who would like to become homeowners continually being frustrated, Yoon says. Already, there are fewer first time Homebuyers as Faras. What's driving up prices? It's low interest rates, and there are also just aren't enough homes for sale. Construction is ramping up so that should help eventually. But for now, Homebuyers air quickly pouncing on the few homes that get put
TIME's Top Stories
S. Korea imposes strict measures to stem spread
"South Korea imposes strict new measures to halt covid nineteen after infections reported in most major cities by the Associated Press in Seoul south. Korea. South. Korea is banning large gatherings closing beaches, shutting nightspots and churches, and removing fans from professional sports in strict new measures announced Saturday battles the spread of the corona virus. Health Minister Park Neum who announced the steps shortly after the Korea Centers for Disease Control and Prevention reported three hundred, thirty, two new cases. The ninth straight day of triple digit increases. The national case load is now at seventeen, thousand, two, including three, hundred, nine deaths while most of the new cases came from the densely populated Seoul metropolitan area which has been at the center of the viral surge. In recent weeks, infections were also reported in practically every major city and town raising concerns that transmissions are slipping out of control. The government had already imposed elevated social distancing measures in Seoul this week after resisting them for months out of economic concerns we are now in a very dangerous situation that could trigger a massive nationwide spread of covid Nineteen Park said. Churches had been a major source of new cases in the Seoul area before authorities shut them this week nightclubs, Karaoke bars, buffet restaurants, and computer gaming cafes in the greater capital region have also closed and spectators are banned again from baseball and soccer games just weeks after teams had been allowed to sell portions of their seats the same measures will apply nationwide from Sunday although park said, local governments will be permitted to exercise some level of flexibility such as advising business shutdowns rather than enforcing them if infections are low. Casey DC director Zhang Yun kiln has endorsed even stronger restrictions. If there's no sign that the virus spread is flowing after the weekend, she said the countries should consider getting social. Measures to level three, which includes prohibiting gatherings of more than ten people, shutting schools, Halting Professional Sports and advising private companies to have employees work from home.
AP 24 Hour News
US home sales jump 20.7% in rebound from 3-month slump, but shortage of properties for sale could hinder further gains
"Realtors words says sales jumped nearly 21% in June. Demand has remained strong among buyers who have managed to whether the downturn and record low mortgage rates have helped sustain affordability. But purchases air still down 11% from a year ago. Realtor words chief economist Lawrence Yun Says sales were down about 20% from their pre pandemic levels. The resurgence of covert 19 and a shrinking supply of homes for sale make further gains in the housing market. Questionable. I'm Mike happen. Stone tools from a Mexican cave suggest people might have
Is there a war on Bitcoin?
"Look at the name of this episode rate yun-mi you talked about it and we were kind of i i but but the name kind of ended up as like the war the war read and richard say maybe you know what is what is this war is there a war and set the bitcoin and blockchain and and i would argue that that there is last week you know the president of the united states commenting about bitcoin in in a slightly demeaning where the treasury secretary of america called crypto currencies and national security threat last year india's recently imposed an all-out ban on on china's been been playing with their positioning in the market from day one so i think it's it's very clear that there's that there's a war on one side from both world and private david banks and the and the implications of what bitcoin and other various cryptocurrencies impact they're going to have i think there is a war warford data right so as into the world where we're getting increasingly worried at both facebook and google owning our data we have the obtain owner honored ourselves right the private keys that we manage our bitcoin waltz with also a broader implications are private keys could give us the rights to our own data and to share with who and with what we want and then i think i think we have a final war with you know who controls our data right so when you look at applications like voting results right you can find many dictators in the world that constantly win elections under the shadow of doubt right in the issue is that that there's no oh ledger of data that everybody can validate right so i think on multiple fronts this revolution kind of started something and i i think one of our goals are are they at least say for myself with bitcoin radio is to protect right get everybody together everybody's voice involved unmask what's really really happening and i think that you know you could probably consider there's there's a few phases of what would be gone through maybe one was honeymoon phase now maybe we're kind of entering like a black market phase where people are starting to the really overly regulate we make addict competition phase like stuff like lebron lebron and governments and large organizations coming in and then kind of like the final battle so i think the next few years is going to be very interesting that gets me excited just as you said i'm i'm gonna reference one of the quotes brian armstrong had brian armstrong for those of you who who now i mean he's obviously the the CEO of coin base i think it's quite what's something along the lines of the first they ignore you then laugh at you didn't they fight you and then you win and that that's a really good starting point for where i personally believe we all right outright all right is they did laugh at us right they ignored us now now we're starting to hear this fight right and the wind is coming and you know the the the one way i can say that that bitcoin is so safe and all of this war is that you can't call in the CEO of coin over excuse me a bitcoin to to congress got facebook they're sitting in there asking questions right pat you know like oh wait maybe we shouldn't allow this to happen big tech maybe they shouldn't be a lotta token is well what are you gonna tell bitcoin you who you gonna call in what employees do they have right and so we're we're in this we're in the space right now we're bitcoin is the standard and as we've we've we've given respect to it in an aim bitcoin radio this episode is called the war and we are not only fighting a war we're fighting the war for the next x. generation to fight the war because this isn't stopping anytime soon until we literally break the cycle and i mean you may differ on a few political issues pat but i think it all comes down to the same ain't thing and that is is everything fair right now i mean anything fair right now it's everything stack actually against us in my personal opinion i can say like this if i'm going to believe even something i want to believe in something that i think has the opportunity to never be manipulated before i even start getting into quantum computing or the potential issues that they might have in the future right now in front of us is this key the key to everybody's future of self-regulation to certain extent and i'm not anarchist i believe in government government believe humans want to regulate themselves i believe humans are comfortable regulated in on a on a certain level but when we get too big too powerful when when government gets it's too big and too powerful the intent as innocent as realistic and as they might have thought it was back then it has evolved in morphed into something that we've kind of lost our own control i love i mean we vote for these people right but the system has taken over and whether it's an obviously we're speaking from an american perspective here but whether you're republican or democrat you're you're still fighting each other there's so much division it almost feels like it's insurmountable at times and you know what that's exactly what they want you to think that's exactly how they want you to feel i mean pat what do you what do you see as bitcoins standstill principles here what is it that makes you so attractive to the space it changes the world in principle i i something i've been kind of telling people lately is is an and i'm not sure everybody in the world grasped but there's a very unique i think tying into a bitcoin it's it's very specific and i think you know look let's look at a united states policy right sometimes they drop bombs on countries trees are drones other times with some of the more powerful enemies what they do countries like north korea and russia is that they sanction them right and if we were free inspection inspect what a sanction is they're essentially cutting them off from the global banking system so they freeze their bank accounts and they freeze their ability to to wire money will the way these people wire money as there's a there's a system named with an acronym called swift and some the listeners might be might be familiar with with it it's it's one of those ripples biggest value added they're trying to kind of replace the swift banking system well well you know swift is a series computers that is sending money from one bank to another with a bunch of centralized banks well once you're starting to read a lot of news like this you know how how can america the sanction iran how can they sanction russia or north korea and try to freeze billions of dollars when these people can come with the USB stick and move who've ten billion dollars in the coffee shop right and you get to this point where this core technology is really striking at the heart of some very powerful people right and i think if we look at why the why is because now we trust it right we've moved billions of dollars back back and forth with bitcoin in it appears that it's you know it's it's we trusted now right we we we when we send that money we're like ninety nine point nine percent sure that it's going to get where it needs to go and if there's ever a panic in bitcoin so there might be a world one day where the technology proves have a fault right and you mentioned under the quality computers here's in the various ways in the future might have issues as long as we trusted then it's something that we feel comfortable utilizing right want something that people feel comfortable utilizing then the only thing stopping adoption is a variety of other factors marketing each of us you know educating older or younger generations about the technology then the the adverse effects are very big for a lot of entities right and we find that a lot of those entities are very powerful right they're the ones with the tanks they're the ones with the big banks didn't mean it rhyme that but it was pretty cool mcgowan bro this this terrifies them right they they lose a lot of their power and once that happens you know you put you put an animal in the corner you might not like the results and that that might be what we're staring pretty
Economists Say Forgiving Student Debt Would Boost Economy
"Let's come back to the United States now where presidential candidates Elizabeth Warren and Bernie Sanders are proposing student loan forgiveness plans warrants plan would forgive up to fifty thousand dollars for most people and Sanders would go further so suppose that happened what would suddenly freeing millions of Americans from student debt mean for the economy NPR's Chris Arnold reports an entire generation of Americans is making major life decisions differently because of student loans whether and when to buy a house the words start a family children it's not about if you wanna I'm it's about can you afford I'm Laura green would work for the state education agency in Montpelier Vermont well I make sixty three thousand dollars and thirty years old and I mean I probably a better salary than a lot of my peers but between her college and grad school agree with those ninety six thousand dollars in student loans and she says that's got her and her partner feeling kind of frozen yeah it's always were interested in having kids but just cost of living and all our other bells and then the student loans is just like the final straw so if people like green would suddenly had this mill stone of debt lifted from their necks it stands to reason that that would unleash pent up desires and spending that would be good for the economy a lot more people would probably have kids words start businesses serve by houses in the short term it's very positive for the housing market Lawrence Yun is the national association of realtors chief economist he says his group survey showed that student data is people delaying homeownership by five to seven years he's not endorsing any particular plan but he estimates that broad loan forgiveness would push up the number of home sales quite a bit home sales cook BSA three hundred thousand high your annually if people were not settle what law each student that of boost to the housing sector as well as to the economy just how much would it help the economy William foster is a vice president with moody's which just did a report on student debt forgiveness there's been some estimates that US real GDP could be boosted on average by eighty six billion two hundred and eight billion per year which is quite a bit that's if you had total loan forgiveness busters as it would have to be total forgiveness to see significant results and he says it could also help address rising income inequality student loans are not contributing to what's perceived as lower economic prospects for younger Americans after all all those millions of people are delaying homeownership and that's the most powerful way for most working and middle class people to build wealth Lawrence you a typical homeowner I has net worth about two hundred thirty dollars and while typical renter has only five thousand but well the idea of loan forgiveness is popular among voters it would not be free and this is a big reason that plenty of politicians and policy experts are not on board this would be expensive foster says Americans owe a lot of money on those student loans about one point five trillion and that's more than auto loans and credit cards they're the second biggest that item for households busters as most of these laws are from the federal government and it could forgive them but that would mean giving up the eighty five billion dollars in annual revenue that it's currently collecting on these loans and that would result in a wider fiscal deficit also taxing people to make up the difference would be a drag on the economy and there are other issues of many people would oppose a give away to say lawyers and doctors who stand to make a lot of money later but happen to have a lot of student loan debt also you would want to tax the working class to pay for higher income college graduates loan forgiveness that's why presidential candidates are proposing to tax the wealthy to pay for it add a foster says there could be what's called a moral hazard factor here for future students those students might expect future loan forgiveness and therefore the take out even more money than they might have otherwise and that could create even greater levels of student debt so it plenty of potential pitfalls but policy makers who are pushing for a loan forgiveness say that they have plans to make it both fair and good for the economy and to do it in a way to make education more affordable for future students so they wouldn't have to take on so much debt Chris Arnold and
NPR's Business Story of the Day
Minnesota Has An Opening For A Historian To Manage Iconic Lighthouse
"This message comes from NPR sponsor, Nevada State museums. The Nevada State railroad museum in Carson city is unveiling a new exhibit this spring in celebration of the one hundred fiftieth anniversary of the transcontinental railroad, visit Nevada one fifty railroad dot com for more imagine a hundred and sixty thousand people dropping by your house every year that's been Lee Radic's life. The last three and a half decades looking after the iconic split rock lighthouse on lake superior's north shore Baratz is retiring and his job is back on the market. Minnesota public radio's you and care reports. On a fine day. Split rock is gorgeous, forty miles off the shore from Duluth the lighthouse is perched atop a one hundred sixty foot cliff the enormous lake superior sparkles below for lighthouse lovers. And apparently there are laws it uses romance. It's here Lee Renzo has answered the same questions again. And again, if my wife, and I are sitting on a front porch, you live your yes you live here year round. Yes. Oh, it must be lonely. And then you want to say well, look behind you. There's fifty people standing there. Listening to you in summer split rock tracks twenty five hundred visitors a day that are far fewer in winter. But they still come even when it's below zero and the storms blow so hard the spray coats, the buildings with ice Lee ransack is not the lighthouse keeper his title is historic site manager. And he's here to tell the lighthouses story. There's a lake. House goes it's kind of a Johnny come lately wasn't built until nineteen o nine. There was no road to split rock. Then a boat dropped off the keepers in the spring and pick them up in the fall. There are three families that lived here pretty much on their own other than some traffic on up and down the shore and five miles to the closest town for their mail. Ransack leads the way up the lighthouse stairs to the lamp room and the sites priced possession. This lens has been in here since nineteen ten to keepers listed with a kerosene lamp to warn ships away. From the rocky shore, the two hundred fifty to cut glass prisons in the lens focused the light into a seven foot beam visible for twenty two miles an on days when they couldn't see they sounded the Falk harms. Split rock had changed by nineteen Eighty-three when Lee ransack moved in it was still remote. But highway sixty one the one Bob Dylan famously revisited now passes just a few hundred yards away. The coast guard decommissioned the lighthouse in nineteen sixty nine Razzak arrived as a newly married man to manage the site for the Minnesota historical society. He and his wife thought they'd give it a few years, but then they had to children, and they stayed early on ransack oversaw, the building of the visitor center and learned about budgets and managing a summer. Staff of thirty Lee Red Sox last day is Friday, April twelve an interim will fill in for the summer. Minnesota historical society manager, Ben Leonard will lead the search for a replacement. This job is going to be probably the the hardest job to fill in the historical society. Because people think about the view, they don't think. About the emails are the reports or the HR issues because those aren't romantic Leonard's looking for a historian with the patients and skills to manage crowds. Harsh weather and deal with the occasional bear for NPR news. I'm Yun care at the split rock. Lighthouse in northern Minnesota.
NPR's Business Story of the Day
Some Mortgage Deals Are In Limbo As Government Shutdown Drags On
"It's day. Twenty one of the partial federal government shutdown and it's causing big financial concerns for hundreds of thousands of people who aren't getting paychecks today. Here's one example, some furloughed workers can't refinance their mortgages or by homes because lenders can't verify their income right now and his NPR's. Yuki Noguchi reports even those who aren't federal employees are getting stuck in limbo. Libby, Anderson's divorce finalized this week she'd hoped her ex-husband would finally move out of their damone home where they've been living separate lives under one roof. It was going to be you know, as soon as today. I mean, we were really going to take care of it today the day after it was final, and then he would be out. But no her ex is a furloughed air traffic controller the shutdown means he can't split his assets with her including his government retirement account. She needs those funds to refinance the house under her name. Also, he can't qualify for his own mortgage because he hasn't been paid for three weeks. The. Government stalemate also means they haven't explained the pending change to their young son in a four year olds had you can't say, you know, mom and dad are going to be living in different places. And then you say well when where and we don't have those answers yet as the shutdown drags on more people will find themselves facing similar roadblocks refinance applications are booming as mortgage rates felt nearly half a percentage point in recent weeks, but furloughed workers can't lock those rates in anyone looking to buy or refinance may have a harder time getting through to federal agencies to verify income taxes or get some loan information from the Federal Housing administration, which remains closed rural home loans guaranteed through the department of agriculture are on hold to Margie hockberg is president of the residential mortgage center. She says her Rockville, Maryland business will likely see a ripple effect. This is going to be a house of cards because if I can't close. By your house. Then guess what? You can't buy the house that you are buying even though you don't work for the federal government to deals nearly fell through this week. But Hoff Berg persuaded the lenders to waive certain paperwork. She says banks strict requirements of borrowers create many potential snags. I hope would be that the lender start becoming a little bit more flexible because it's not in their best interest to not do loans either. There's some precedent for these problems during the two thousand thirteen shut down two percent of home loans. Never closed according to the national association of realtors. But that one lasted only sixteen days, the headache really is related to delays Lawrence Yun is the group's chief economist he says seventeen percent of home loans closed late due to backlogs most deals get done. But Yoon says he worries more about possible impact on homebuyer psychology, along with the shutdown it causes greater uncertainty about the economic direc-. Action which means that even the private sector employees may be less willing to purchase home over time. Greg Bush agrees what furloughed employees are going to go out and buy a house right now when there's no definitive date of a compromise. But is vice president of first savings mortgage a big player in the Washington DC area. He notes the impact on contractors who make up the largest segment of the federal workforce. There's a lot of contractors here that aren't getting paid people who own those companies they're not going to buy the able to refinance. And they're going to start laying people off those people, I think will be most affected for Libby Anderson. The new divorce say the shutdown cannot end soon enough while her break up with her ex has been amicable sharing space is taxing it. Just feels like you're at the finish line and the finish line keeps getting moved. But you're exhausted. There's not much you can do about it. You can't move the finish line. Closer because it's totally out of our control. The latest expected to move out was April first. But now Anderson worries the shutdown could outlast that obviously I I wouldn't kick him out into the street, but we really both need to move on and have some physical distance from each other until then they will continue to retreat to separate corners of their house. You know, Gucci NPR news Washington, and we're following a developing story this morning. Authorities say they have located thirteen year old Jamie Kloss, she's been missing since October when police discovered her parents dead in their home in Barron, Wisconsin, investigators got thousands of tips that were massive search parties to try to follow up on those tips last night. The Barron county sheriff's department announced that Klaus has been found alive about an hour north of baron CBS affiliate W C C O spoke with clauses aunt suit, Nyberg Allard last night. Harry's earlier today. Print and print that were chewing. They come to not be true. I just ship myself. Totally don't sit that today was going to be the day. Then to find two hours later that she was phone. I I cannot believe this. The sheriff's department says shortly after class was located a suspect was taken into custody that apartment didn't provide any further information, but plans to hold a press conference later this morning, we'll continue to monitor this story and renew any developments.