Widget Image
Follow PPD Social Media
Friday, February 7, 2025
HomeStandard Blog Whole Post (Page 445)

Beijing Attack

A minivan has ploughed into a crowd at a farmer’s market in Beijing, killing four people. (Photo: The Sun)

At least four people were killed and dozens injured after a minivan plowed into a farmer’s market in Beijing on Wednesday, The Sun reported. Authorities detained the van’s driver, according to the Beijing Municipal Public Security Bureau.

While it was not immediately clear whether the episode was intentional or accidental, it comes on the heels of another tragic apparent terror attack.

The incident in Chikou Town, which is a remote suburban area of Beijing, comes just two days after a terror attack in Berlin. A suspected jihadi killed 12 people when he drove a truck into the crowd at a Christmas market. The Islamic State (ISIS) has claimed responsibility for the attack.

At least four people were killed and

pending-home-sales-reuters

Existing and pending home sales reported by the National Association of Realtors. Photo: Reuters)

The National Association of Realtors reports said Wednesday existing homes sales rose 0.7% in November to an annualized rate of 5.61 million units. Fueled by a surge in the Northeast, existing single-family homes–including town homes, condominiums and co-ops–rose for the third consecutive month and topped expectations.

The median forecast was calling for 5.50 million units.

“The healthiest job market since the Great Recession and the anticipation of some buyers to close on a home before mortgage rates accurately rose from their historically low level have combined to drive sales higher in recent months,” Lawrence Yun, NAR chief economist said. “Furthermore, it’s no coincidence that home shoppers in the Northeast — where price growth has been tame all year — had the most success last month.”

Single-family and Condo/Co-op Sales

Single-family home sales fell 0.4% to a seasonally adjusted annual rate of 4.95 million last month, down from 4.97 million in October. However, they are still 16.2% above the 4.26 million level a year ago. The median existing single-family home price was $236,500 in November, up 6.8% from last year.

“Existing housing supply at the beginning of the year was inadequate and is now even worse heading into 2017,” added Mr. Yun. “Rental units are also seeing this shortage. As a result, both home prices and rents continue to far outstrip incomes in much of the country.”

Existing condominium and co-op sales jumped 10.0% to a seasonally adjusted annual rate of 660,000 units, and are now 10.0% above a year ago. The median existing condo price was $222,600 in November, which is 5.8% above a year ago.

First-Time Buyers

First-time buyers made up 32% of sales in November, which is down from 33% in October but up from 30% a year ago. NAR’s 2016 Profile of Home Buyers and Sellers—released in November 5—revealed that the annual share of first-time buyers was 35% (32% in 2015), which is the highest share since 2013 (38%).

“First-time buyers in higher priced cities will be most affected by rising prices and mortgage rates next year and will likely have to stretch their budget or make compromises on home size, price or location,” said Yun.

Not everyone celebrates the increasing share of first-time buyers in the market given their increased riskiness and the fact they are fueled by easier lending practices. The AEI International Center for Housing Risk gauges the market share of riskier agency-purchase loans in the housing market and has released some alarming results.

While the First-Time Buyer Mortgage Risk Index (FBMRI) for Agency purchase came in at 15.6% in August, which is relatively unchanged from a year earlier, Agency FBMRI is now 6.4 percentage points higher than the repeat buyer MRI, up 6.0 percentage points from a year earlier.

“Contrary to news reports, the first-time buyer is alive and well in today’s home purchase market,” Ed Pinto, a resident fellow at AEI said. Mr. Pinto was a former executive vice president and chief credit officer for Fannie Mae.

The First-Time Buyer Mortgage Share Index (FBMSI) saw loan volume surge by 14% in August on a year-over-year basis, and is now 2.5 percentage points higher than in August 2014. Total first-time buyer (FTB) volume is up 39%.

Regional

Existing-home sales in the Northeast jumped 8.0% to an annual rate of 810,000, putting them now 15.7% above their level from a year ago. The median price in the Northeast was $263,000, or 3.3% higher than they were in November 2015.

In the Midwest, existing-home sales fell 2.2% to an annual rate of 1.33 million in November, but remain 18.8% on a year-over-year basis. The median price in the Midwest was $180,300, up 6.5% from a year ago.

Existing-home sales in the South in November ticked up slightly by 1.4% to an annual rate of 2.22 million, making them 11.6% higher than in November 2015. The median price in the South was $206,900, up 9.2% from a year ago.

In the West, existing home sales fell 1.6% to an annual rate of 1.25 million, but are 19.0% higher than a year ago. The median price in the West was $345,400, up 8.5% from November 2015.

he National Association of Realtors reports said

Obama-Paris-Climate-Change-Conference

U.S. President Barack Obama speaks at the Paris Climate Change conference on Nov. 30, 2015. (Photo: AP)

One month before the end of his presidency, President Barack Obama ordered large swaths of the Atlantic and Arctic oceans to be off-limits “indefinitely” to future oil drilling. The order was done with the hope his successor President-elect Donald J. Trump will be unable to reverse the order.

“Today, in partnership with our neighbors and allies in Canada, the United States is taking historic steps to build a strong Arctic economy, preserve a healthy Arctic ecosystem and protect our fragile Arctic waters, including designating the bulk of our Arctic water and certain areas in the Atlantic Ocean as indefinitely off limits to future oil and gas leasing,” the White House said in a statement, issued while Obama is on vacation with his family in Hawaii.

Even though the order uses executive powers, Obama used a 1953 provision permitting the president to ban offshore leases in the outer Continental Shelf–permanently. President-elect Trump has pledged to open up more land and sea targets for energy production and has announced cabinet appointments demonstrating he intends to make good on those promises.

Shortly after confirming he has chosen Exxon Mobil CEO Rex Tillerson as his Secretary of the U.S. State Department, President-elect Trump announced last week he intends to nominate former Texas Gov. Rick Perry as Secretary of the U.S. Department of Energy (DOE). As the 47th top executive of Texas from 2000 to 2015, a still-popular Gov. Perry oversaw the world’s 12th largest economy and major energy-producing state.

Those two picks followed outrage from leftwing environmental groups reacting to the selection of Oklahoma Attorney General Scott Pruitt as the new administrator of the Environmental Protection Agency (EPA). Mr. Pruitt, 48, has been a critic of the “activist agenda” at the EPA. Since 2011, Mr. Pruitt has repeatedly filed suit against the EPA and joined with other Republican attorneys general in opposing the Clean Power Plan and Clean Water Act.

Those industry heads who praised the new picks are now condemning the soon-to-be old president’s new order.

Independent Petroleum Association of America (IPAA) Senior Vice President Dan Naatz said in a statement the group was “extremely disappointed in President Obama’s eleventh hour decision to shut down economic development and lock away America’s true energy potential for communities that need it most.”

The order is meant to follow-up on another from earlier this year, when the administration removed potential Atlantic lease sales from its blueprint for offshore drilling. However, the prior ban related only to a five-year period starting in 2017, which could be easily reversed by President-elect Trump when he puts forward his own five-year blueprint.

Despite the language of the old law, most scoffed at the idea that the executive action would be permanent or safe from a Trump Administration.

“There’s no such thing as a permanent ban,” said Erik Milito, a policy director at the American Petroleum Institute.

While leftwing environmental activists and legal consul dispute that assertion, the bottom line is that President-elect Trump will likely issue an order reversing Mr. Obama’s. Then, it would be up those groups and others to challenge that action in court. With at least one Supreme Court vacancy left for the new president to fill, the conservative members of the court will remain the majority.

If he doesn’t, then it would be up to a Republican Congress, which will likely enjoy even larger majorities after 2018. They won’t likely have to worry about mission creep pushback from the EPA or DoE.

One month before the end of his

FILE PHOTO - Robotic arms spot welds on the chassis of a Ford Transit Van under assembly at the Ford Claycomo Assembly Plant in Claycomo, Missouri April 30, 2014. (Photo: REUTERS)

FILE PHOTO – Robotic arms spot welds on the chassis of a Ford Transit Van under assembly at the Ford Claycomo Assembly Plant in Claycomo, Missouri April 30, 2014. (Photo: REUTERS)

There’s a meme on Facebook and Twitter that asks people to “confess your unpopular opinions.” I suppose I could play that game by saying that I’d rather eat fast food than patronize most fancy restaurants (especially if I have to pay the bill!). And I’ve unintentionally played that game already by admitting that politicians aren’t always sinister and evil.

But I have something even more astounding to confess: My leftist friends are right when they assert that the free market destroys jobs.

Not only are they right, they probably underestimate the number of jobs that are destroyed by capitalism. Over time, millions of jobs vanish because of the greedy pursuit of profits.

Mark Perry of the American Enterprise Institute shares some very sobering data on how almost all of the big companies of the 1950s have faded over the past 60 years.

Comparing the Fortune 500 companies in 1955 to the Fortune 500 in 2014, there are only 61 companies that appear in both lists. In other words, only 12.2% of the Fortune 500 companies in 1955 were still on the list 59 years later in 2014, and almost 88% of the companies from 1955 have either gone bankrupt, merged, or still exist but have fallen from the top Fortune 500 companies (ranked by total revenues). Most of the companies on the list in 1955 are unrecognizable, forgotten companies today (e.g. Armstrong Rubber, Cone Mills, Hines Lumber, Pacific Vegetable Oil, and Riegel Textile). …That’s a lot of churning and creative destruction, and it’s probably safe to say that almost all of today’s Fortune 500 companies will be replaced by new companies in new industries over the next 59 years.

And why did these companies disappear or shrink in size, thus leading to major job losses?

Mostly because capitalists, seeking profits, invested money in ways that displaced old technologies, hurt old competitors, and made old products less attractive.

Sounds terrible, right? Jobs are lost because of greedy rich people trying to increase their wealth.

And if you’re one of the people in the unemployment line, it is terrible.

But keep in mind that this process of creative destruction led to new technologies, new competitors and new products. And the net effect of all these changes is that – on average – we are much richer.

Mark elaborates.

…for that we should be thankful. The constant turnover in the Fortune 500 is a positive sign of the dynamism and innovation that characterizes a vibrant consumer-oriented market economy… In the end, the creative destruction that results in a constantly changing group of Fortune 500 companies is driven by the endless pursuit of sales and profits that can only come from serving customers with low prices, high quality and great service.

Indeed, this system is what has given us the “hockey stick” of human progress.

All this disruption and change is what enables our society, over time, to grow faster and produce more goods and services and lower prices.

At least when the market is allowed to operate with the right set of policies – what I call the recipe for growth and prosperity.

In my speeches, I sometimes make similar points by using historical examples.

  • I ask audiences to think about how personal computers have made our lives more enjoyable and productive, but I then ask them to ponder what happened to the people who had jobs making, selling, and servicing typewriters.
  • I ask audiences to think about how the automobile boosted productivity and increased mobility, but I then ask them to consider the lost jobs of people in the horse and buggy industry.
  • I ask audiences to think about how electrification and the light bulb improved the economy in countless ways, but I then ask them to speculate on the number of jobs that were destroyed in the candle-making sector.

The sad reality is that progress has a price tag. Yes, we are far richer because of great inventions that boosted productivity and improved lives. But that doesn’t change the fact that real workers with real families often experienced genuine anguish when jobs in some sectors disappeared. And that’s still happening today.

And workers are largely blameless when job losses occur. All they did was exchange honest work for honest pay. It was the capitalists who made mistakes by not managing companies effectively and not allocating capital efficiently (or, to be more charitable, they simply failed to anticipate major changes that were about to occur).

By the way, this isn’t an argument for government intervention. We would be much poorer today if politicians tried to save jobs every time there was creative destruction in the economy. Perhaps most important, every job that they “saved” would be offset by the jobs (and prosperity) that weren’t created or didn’t materialize because the clumsy foot of government replaced the invisible hand of the market.

What Bastiat taught the world in the 1800s is still true today. We have to consider both the seen (the jobs that are saved) and the unseen (the greater number of jobs that don’t get created) when contemplating the impact of government.

This is why I want the economy to be as dynamic and innovative as possible so that displaced workers can find new positions as quickly as possible, hopefully earning even more money.

Here’s a short video from Learn Liberty that teaches about this process of creative destruction.

[brid video=”86067″ player=”2077″ title=”How to Sabotage Progress Learn Liberty”]

The process of creative destruction incurred job

The Flint Water Plant tower is seen in Flint, Michigan, U.S. on February 7, 2016. (Photo: REUTERS)

The Flint Water Plant tower is seen in Flint, Michigan, U.S. on February 7, 2016. (Photo: REUTERS)

The Michigan attorney general Tuesday charged four more former government officials with criminal conspiracy to violate safety rules related to the Flint water crisis. Republican Attorney General Bill Schuette said at a press conference in Flint that the defendants–now totaling 13 in all–conspired to operate the city’s water treatment plant even though it was not safe to do so.

“There has been an obsession with balance sheets and metrics over the lives of people in Flint,” Attorney General Bill Schuette said in a statement. “We are going where the facts take us, without fear or favor.”

Former state-appointed emergency managers Darnell Earley and Gerald Ambrose and former city employees Howard Croft, a public works superintendent, and Daugherty Johnson, a utilities manager, were the latest to be charged in the case. The alleged actions of government officials in the Flint water crisis exposed thousands of residents to dangerous levels of lead, AG Schuette said.

“The tragedy that we know of as the Flint water crisis did not occur by accident,” he added. “Flint was a casualty of arrogance, disdain and failure of management, an absence of accountability.”

Asked whether the investigation would lead to charges against higher-placed state officials, Mr. Schuette again repeated that he will follow the facts wherever they lead and that his office will not take anyone off the table.

The question and answer is a response to critics who have called for charges against high-ranking state officials, including Michigan Republican Governor Rick Snyder. Gov. Snyder has said he believed he had not done anything criminally wrong and, at least for now, the evidence made available to the public does not demonstrate he was directly involved. The contamination was linked to a decision made by state-appointed emergency manager Earley, 65, back in April 2014. It switched the city’s water source to the Flint River from Lake Huron in an attempt to cut costs.

The local board was aware of the option and supported it. Now, tests concluded there were high amounts of lead in blood samples taken from children in Flint, a predominantly black city of about 100,000. The corrosive river water caused lead to leak from city pipes into the drinking water before the city switched back to the previous water system in October 2015.

Lead can be and is toxic, particularly to children. The crisis has prompted lawsuits by parents who say their children have shown dangerously high levels of lead in their blood.

The Michigan attorney general Tuesday charged four

Paramedics work at the site of an accident at a Christmas market on Breitscheidplatz square near the fashionable Kurfuerstendamm avenue in the west of Berlin, Germany, December 19, 2016. (Photo: REUTERS)

Paramedics work at the site of an accident at a Christmas market on Breitscheidplatz square near the fashionable Kurfuerstendamm avenue in the west of Berlin, Germany, December 19, 2016. (Photo: REUTERS)

The death toll has risen to 12 with several injured after a truck plowed into a Christmas market in western Berlin in a suspected terrorist attack. The attack comes on the same day and hours after Russia’s ambassador to Turkey was shot and killed after a gunman wearing a suit and tie opened fire shouting “Allahu Akbar” at a photo exhibition in Ankara on Monday.

The death toll has risen to 12

Newark Prep Charter School students listen to academic coach, Robbie Garland. (Photo: Reuters)

Newark Prep Charter School students listen to academic coach, Robbie Garland. (Photo: Reuters)

While I have great fondness for some of the visuals I’ve created over the years (especially “two wagons” and “apple harvesting“), I confess that none of my creations have ever been as clear and convincing as the iconic graph on education spending and education outcomes created by the late Andrew Coulson.

public school trends

Source: CATO

I can’t imagine anyone looking at his chart and not immediately realizing that you don’t get better results by pouring more money into the government’s education monopoly.

But the edu-crat lobby acts as if evidence doesn’t matter. At the national level, the state level, and the local level, the drumbeat is the same: Give us more money if you care about kids.

So let’s build on Coulson’s chart to show why teachers’ unions and other special interests are wrong.

Gerard Robinson of the American Enterprise Institute and Professor Benjamin Scafidi from Kennesaw State University take a close look at this issue.

…education is important to the economic and social well-being of our nation, which is why it is the No. 1 line item in 41 state budgets. …Schools need extra money to help struggling students, or so goes the long-standing thinking of traditional education reformers who believe a lack of resources – teachers, counselors, social workers, technology, books, school supplies – is the problem. …a look back at the progress we’ve made under reformers’ traditional response to fixing low-performing schools – simply showering them with more money – makes it clear that this approach has been a costly failure.

And when the authors say it’s been a “costly failure,” they’re not exaggerating.

Since World War II, inflation-adjusted spending per student in American public schools has increased by 663 percent. Where did all of that money go? One place it went was to hire more personnel. Between 1950 and 2009, American public schools experienced a 96 percent increase in student population. During that time, public schools increased their staff by 386 percent – four times the increase in students. The number of teachers increased by 252 percent, over 2.5 times the increase in students. The number of administrators and other staff increased by over seven times the increase in students. …This staffing surge still exists today. From 1992 to 2014 – the most recent year of available data – American public schools saw a 19 percent increase in their student population and a staffing increase of 36 percent. This decades-long staffing surge in American public schools has been tremendously expensive for taxpayers, yet it has not led to significant changes in student achievement. For example, public school national math scores have been flat (and national reading scores declined slightly) for 17-year-olds since 1992.

By the way, the failure of government schools doesn’t affect everyone equally.

Parents with economic resources (such as high-profile politicians) can either send their kids to private schools or move to communities where government schools still maintain some standards.

But for lower-income households, their options are very limited.

Minorities disproportionately suffer, as explained by Juan Williams in the Wall Street Journal.

While 40% of white Americans age 25-29 held bachelor’s degrees in 2013, that distinction belonged to only 15% of Hispanics, and 20% of blacks. …The root of this problem: Millions of black and Hispanic students in U.S. schools simply aren’t taught to read well enough to flourish academically.  …according to a March report by Child Trends, based on 2015 data from the National Assessment of Educational Progress (NAEP), only 21% of Hispanic fourth-grade students were deemed “proficient” in reading. This is bad news. A fourth-grader’s reading level is a key indicator of whether he or she will graduate from high school. The situation is worse for African-Americans: A mere 18% were considered “proficient” in reading by fourth grade.

But Juan points out that the problems aren’t confined to minority communities. The United States has a national education problem.

The problem isn’t limited to minority students. Only 46% of white fourth-graders—and 35% of fourth-graders of all races—were judged “proficient” in reading in 2015. In general, American students are outperformed by students abroad. According to the most recent Program for International Student Assessment, a series of math, science and reading tests given to 15-year-olds around the world, the U.S. placed 17th among the 34 Organization for Economic Cooperation and Development countries in reading.

This is very grim news, especially when you consider that the United States spends more on education – on a per-pupil basis – than any other country.

Here’s a table confirming Juan’s argument. It lacks the simple clarity of Andrew Coulson’s graph, but if you look at these numbers, it’s difficult to reach any conclusion other than we spend a lot in America and get very mediocre results.

Juan concludes his column with a plea for diversity, innovation, and competition.

For black and Hispanic students falling behind at an early age, their best hope is for every state, no matter its minority-student poverty rate, to take full responsibility for all students who aren’t making the grade—and get those students help now. That means adopting an attitude of urgency when it comes to saving a child’s education. Specifically, it requires cities and states to push past any union rules that protect underperforming schools and bad teachers. Urgency also means increasing options for parents, from magnet to charter schools. Embracing competition among schools is essential to heading off complacency based on a few positive signs. American K-12 education is in trouble, especially for minority children, and its continuing neglect is a scandal.

He’s right, but he should focus his ire on his leftist friends and colleagues. They’re the ones (including the NAACP!) standing in the proverbial schoolhouse door and blocking the right kind of education reform.

At the national level, the state level,

Hillary Clinton conceding the the 2016 presidential race to Donald Trump in New York City on November 9, 2016. (Photo: Video Screenshot)
Hillary Clinton conceding the the 2016 presidential race to Donald Trump in New York City on November 9, 2016. (Photo: Video Screenshot)

The Electoral College dealt Big Media and Democrat Hillary Clinton one more final embarrassment. With nearly all the Electoral College votes cast, the former secretary of state set a 104-year record for the candidate with the most faithless electors. If you fell for the Big Media hysteria, then you might be surprised to hear faithless electors are actually pretty common.

(UPDATE: Since this article was first written, Mrs. Clinton got another faithless elector in the state of Hawaii. Her total now stands at 5.)

For all the headlines focusing on one faithless elector in Texas who turned out to be a complete fraud, it would really surprise you to hear that Mrs. Clinton not only lost more electors than President-elect Donald J. Trump, but the most of any candidate in over 100 years.

That’s right.

In what was a shocking development to Big Media, 4 Democratic electors in Washington State voted for someone other than Mrs. Clinton. The total was 3 for former Secretary of State Colin Powell, while the remaining one voted for Faith Spotted Eagle. Mrs. Clinton only secured 8 of the state’s total 12 Electoral College votes. That wasn’t the end to her troubles, either.

Not since 1912–when 8 Republican electors defected and voted for Nicholas Murray Butler instead of Vice Presidential candidate James S. Sherman, who died before the election–has anyone lost more electors than Mrs. Clinton. Sherman was President William Howard Taft’s vice president and they were both running for re-election.

Not since 1896, when two parties, the Democratic Party and the People’s Party, ran William Jennings Bryan as their presidential candidate has a candidate lost as many electors in the Electoral College as Mrs. Clinton did in 2016.

And that was a very special circumstance. In Bryan, the two parties shared a presidential candidate. But they nominated different candidates for vice president. The Democratic Party nominated Arthur Sewall and the People’s Party nominated Thomas Watson. The People’s Party won 31 electoral votes but four of those electors voted with the Democratic ticket, supporting Bryan as president and Sewall as vice president.

In total, there have been 157 faithless electors since the founding of the Electoral College, of which 71 were the result of the candidate dying before the day electors cast their votes. Only 3 electors abstained rather than vote for their party’s nominee and 83 electoral votes were changed based on the elector’s personal choice.

It could’ve been even worse for Mrs. Clinton.

In Minnesota, the Electoral College per state rules replaced an elector who refused to vote for her. In Maine, which was set to split it’s electoral votes for the first time ever after President-elect Trump won the Second Congressional District, Democratic elector David Bright cast his first vote for Sen. Bernie Sanders. He switched his vote back on a second round of voting.

It’s a fitting end to a presidential election in which the media coverage was so divorced from reality PPD readers and millions of other Americans sometimes felt like they were in the Twilight Zone. Judging by the hysterical and factually inaccurate coverage of his transition, I don’t expect it will end.

The Electoral College dealt Big Media and

Republican presidential candidate and New York businessman Donald J. Trump.

Republican presidential candidate and New York businessman Donald J. Trump.

The Electoral College has officially voted for President-elect Donald J. Trump, ending a long and bitter campaign that some tried to drag out until mid-December. The total count for the New York businessman, who was considered a long shot by every election forecast model except for People’s Pundit Daily, was 304 Electoral College votes, the largest landslide for any Republican since 1988.

In what was a fitting end to an election mired by one-sided journalism and manufactured narratives, the media hype over electors defecting away from the Republican didn’t reflect reality. Democrat Hillary Clinton not only suffered the embarrassment of having more faithless electors than President-elect Trump, but more than any other candidate in over 100 years.

In what was a shocking development to Big Media, 4 Democratic electors in Washington State voted for someone other than Mrs. Clinton. The total was 3 for former Secretary of State Colin Powell, while the remaining one voted for Faith Spotted Eagle. Mrs. Clinton only secured 8 of the state’s total 12 Electoral College votes. That wasn’t the end to her troubles, either.

In Maine, Democratic elector David Bright cast his first vote for Sen. Bernie Sanders. He switched his vote back on a second round of voting, while another in Minnesota was replaced before he could vote against Mrs. Clinton, who barely won the state by roughly 2 points.

Live Electoral College Results are updated to reflect current state-by-state vote totals as they come in. Also follow @Peoples_Pundit or @PPDNews to get updates on Twitter. Don’t forget to “Like” People’s Pundit Daily on Facebook.

The Electoral College has officially voted for

Loading the 2016 PPD Electoral College Map
Trump (R) 304 | Clinton (D): 227 | Other: 7 | Remaining: 0
Results updated: Refresh your browser every 1 – 2 minutes.

Live Electoral College Results are updated to reflect current state-by-state vote totals as they come in. Also follow @Peoples_Pundit or @PPDNews to get updates on Twitter. Don’t forget to “Like” People’s Pundit Daily on Facebook.

UPDATE: Three faithless Democratic elector in Washington voted for former Secretary of State Colin Powell, while the remaining one voted for Faith Spotted Eagle. Hillary Clinton only secured 8 of the state’s total 12 Electoral College votes.

UPDATE: Democratic elector David Bright in Maine has cast his vote for Bernie Sanders. He switched his vote back on a second round of voting.

Live Electoral College Results updated to reflect

People's Pundit Daily
You have %%pigeonMeterAvailable%% free %%pigeonCopyPage%% remaining this month. Get unlimited access and support reader-funded, independent data journalism.

Start a 14-day free trial now. Pay later!

Start Trial