Andrew Yang: How financial insecurity sinks American IQ scores


These social scientists studied a group of
farmers and gave them IQ tests throughout the year. Same farmers, same test. But what they found is that these farmers
did much, much worse Before they’d actually harvested crops. When everything was starting to go towards
empty, they actually had lower IQ scores. And then, when they tested them at a point
when the harvest had come in, their IQs went up. And so then they were trying to figure out,
how did the same person’s IQ actually change throughout the year? And then they ran a similar test on Americans. And what they did is they asked people a bunch
of IQ related questions and got baseline scores. And then they said, hey, you now have a bill
that you cannot pay. Just think about that. And then they gave them the same IQ test again. And low and behold, the Americans who were
presented with a bill that they could not pay, even though it was obviously a fictitious
bill, actually had lower IQ scores. And it turns out that not being able to pay
your bills has the functional equivalent of decreasing your IQ by 13 points, or one standard
deviation. And what they found is, there’s a mindset
of scarcity that’s associated with when you don’t have enough money, or you don’t have
enough time, or you don’t have enough food, or if you don’t have enough companionship. And it actually decreases your functional
bandwidth. It’s different than stress. It actually makes you less reasonable, less
rational, less generous, and more subject to bad ideas and bad impulses, including even
things like racism and xenophobia. Now, the opposite of a mindset of scarcity
is a mindset of abundance, which is what most entrepreneurs have. A mindset of abundance is a sense of optimism
that if you build it, it will improve. You will be able to get the resources, you
will be able to get the customers, you will hire and find the right people. And, abundance and optimism ends up building
unto itself and producing results if the environment is right. And so, this scarcity mindset and abundance
mindset are very much in opposition. And, we’re programmed with a scarcity mindset
in many ways, because genetically, we’re brought into an existence where things were scarce,
where if you ate too much in a particular period, maybe you won’t have enough to eat
later. And so, right now, this tension is something
that humans and Americans struggle with all the time. Unfortunately, right now, the scarcity mindset
is going up and up in the United States, because people can’t pay their bills. 78% of Americans are living paycheck to paycheck. 57% can’t afford an unexpected $500 bill. And so if there’s a sense that the United
States is getting less reasonable, less rational, even more subject to bad ideas, and less open
to other people, it’s related to the fact that right now a mindset of scarcity has swept
this country because of pervasive financial insecurity. And that’s one of the reasons why I’m so passionate
about a Universal Basic Income, The Freedom Dividend, to help reverse this trend, get
the boot off of people’s throats, and replace the mindset of scarcity with a mindset of
abundance. With a mindset of abundance, we would see
untold new– hundreds and thousands of entrepreneurs, artists, creatives, founders, starting new
things and organizations and projects and companies around the country. Because what we need for that to happen, more
than anything else, is a mindset of abundance and people thinking that if they take the
right moves into the future, they’ll actually succeed.

100 thoughts on “Andrew Yang: How financial insecurity sinks American IQ scores

  • March 16, 2019 at 10:23 am
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    Technocrat elite. UBI! , Because automation!! Makes zero mention of mass immigration of people who's future jobs are supposed to be replaced by automation . Must want his landscapers imported. He's the Chinese diasporas wet dream of dominating a Marxist socialist state of soft headed politically correct leftists and intellectuals so in need of leaders that can put three sentences together that they'll listen to anybody at this point who can do this. Big Think, a video propaganda mill for the intellectually indoctrinated.

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  • March 16, 2019 at 11:03 am
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    A YouTuber said that it's pronounced "Yahng".
    Why would he mispronounce his own surname…?

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  • March 16, 2019 at 11:44 am
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    Sounds great but how do we afford it? $1k a person comes out to about $3.3 trillion dollars annually. The federal government only brings in $3.6T and is currently spending 4.4 trillion annually. If you cut out social security, reduce defense spending, reform health care and eliminate all other wellfare programs that'll come to around $2 trillion in savings.

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  • March 16, 2019 at 1:11 pm
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    Poverty is not a lack of character, its a lack of cash.

    Quote: rudger bregman; ted talk

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  • March 16, 2019 at 6:08 pm
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    Yang believes this will cause whites to go postal and engage in mass shootings. Just the whites. So he wants to give them a UBI so they won't go postal.

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  • March 16, 2019 at 10:10 pm
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    I like Yang he sounds very nice. But he is still wrong about UBI. He pays for it with a VAT sales tax so he will just create inflation…

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  • March 17, 2019 at 1:59 am
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    I can't vote for this guy, he's too far left! We need a pragmatist, and a centrist. I'm all in for Kamala Harris, she's the person who work with republicans and dems to get things done!!!

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  • March 17, 2019 at 2:24 am
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    2 things. One, is it is too expensive. Two, is if everyone makes a base amount, we are back to square one. All costs will rise, by $1000.

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  • March 17, 2019 at 6:41 pm
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    Yang presents his vision of the problems facing America and presents solutions.

    Or you could pick the orange shitgibbon whose vision and "solutions" are
    – build the wall
    – demonize immigrants and those of color
    – give massive tax cuts to billionaires and large profitable corporations
    – cut Medicare, Medicaid, and all programs that provide help or opportunities to those in the middle and lower class.

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  • March 18, 2019 at 2:28 am
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    Ouch. I truly hope Andrew has researched the foundations for his ideas more carefully than what this video could lead one to believe. The Princeton study he refers to here met heavy criticism for methodological errors and hasn’t been replicated in it’s exact form. Given the current state of replicability in social sciences (psychology in particular, with average rate at only ~50% for the more rigorous studies), Andrew would be wise to not make these types of claims the cornerstones of his arguments. UBI is interesting. So is his policy platform. But please, Andrew, stick to what you know well.

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  • March 18, 2019 at 3:59 am
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    Have you ever heard a Presidential candidate talk about something like this? Yang2020

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  • March 18, 2019 at 4:03 pm
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    Yang is the very opposite of Trump: intelligent, coherent …

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  • March 18, 2019 at 9:05 pm
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    Word!!

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  • March 19, 2019 at 2:05 am
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    One of the few candidates that actually have a plan and policy instead of empty "words" … nowadays politicians take advantage of people emotion, exploiting and manipulating them, make their speech patriotic but zero solid plans… Andrew yang 2020!

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  • March 19, 2019 at 5:04 am
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    Vote for IRL daily login bonus!

    Reply
  • March 19, 2019 at 3:13 pm
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    So when people are preoccupied with thoughts not related to the task at hand their performance can be negatively affected.

    You are extrapolating WAY beyond the findings of the study.

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  • March 19, 2019 at 6:26 pm
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    Thought UBI was stupid but Yang help me see the light. Thanks for being our Yoda.

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  • March 20, 2019 at 1:43 am
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    Hello Mr Blackwell!

    Reply
  • March 20, 2019 at 5:08 am
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    I'd give this all a try if it would really help the country out long term.

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  • March 20, 2019 at 7:42 pm
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    But Trump is billionaire and has everything he needs and more, yet he’s the dumbest Fuck on the planet. How do you explain that?

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  • March 20, 2019 at 10:40 pm
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    I am highly engaged Youtube!

    Reply
  • March 21, 2019 at 12:14 am
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    Sorry wignats I don't think Yang's for you.

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  • March 21, 2019 at 6:00 am
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    dang, he's on big think. america you better realise you have a treasure here.

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  • March 21, 2019 at 9:05 am
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    In short, Maslow's hierarchy of needs. When your basic need is not fulfilled, people are not going to come together to talk, discuss and work together. Its why democracy has degraded to populism and hijacked by plutocracy. America is not ready for democracy at this moment of time. It needs new model to secure its basic needs before going back to democracy.

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  • March 22, 2019 at 5:36 pm
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    I'm white and I support Andrew Yang!

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  • March 24, 2019 at 6:17 pm
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    I love Yang taking advantage of popular, smaller media outlets like BigThink, the Joe Rogan Podcats, the Breakfast Club, etc. It shows he's connecting with people on a closer level, grassroots level and not just settling for bigger outlets. He'll be the perfect candidate because he'll form intimate relationships with his supporters before he is released into the wild for everyone to more publicly scrutinize him. He will be the best shot of us bringing back unity and economic prosperity in our country. GDP doesn't mean anything when it only benefits a few people at the top.

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  • March 25, 2019 at 12:38 am
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    Yang needs to be head of the Party and direct evidence based campaigns; the other option is to be in Congress. The President cannot change the country; Congress can with its laws.

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  • March 25, 2019 at 4:59 am
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    I found out about Andrew Yang by looking at an ad for a YouTube channel. The channel had a vid on him. And it turns out he already had a Big Think vid. Hmmm he definitely has my attention… for now. Let’s hope he doesn’t mess this up.

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  • March 25, 2019 at 9:11 am
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    Is there another source for the study than his own book – preferably some reviewed journal entry? I'd be interested in it.

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  • March 25, 2019 at 10:13 am
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    This guy makes so much sense. It's time to bring back rationality and evidence based policies in America. #YangGang2020

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  • March 25, 2019 at 3:15 pm
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    Socialis!! Damn Mexicans!!

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  • March 25, 2019 at 3:32 pm
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    This reminds me of a graphic novel ("Supercrash" by Darryl Cunningham) I just read. He has mentioned a research study where it was shown, that normally progressive people in times of stress, tend to be rather racist and konservative. Interesting, isn't it.

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  • March 26, 2019 at 4:33 am
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    Yang: Environmental factors can influence IQ…. uses it to justify UBI
    Everyone else: Great Idea

    But wait, what happened to all of those guys that were chest-beating that IQ was only hereditary? Does their stance change when it means they get paid??

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  • March 26, 2019 at 11:33 am
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    This dude is too smart to be president of the US, sorry guys.

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  • March 26, 2019 at 9:37 pm
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    Does this mean my tested value of 145 is incorrect, and my real IQ is 158?

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  • March 27, 2019 at 5:31 pm
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    Good to see smart people in politics.
    Let's see if he can bring some relief, when he becomes president.

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  • March 27, 2019 at 5:52 pm
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    leftists still pushing their agenda , again and again …
    this test is pure lies , you don't loose 13 points on a bad mood !

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  • March 27, 2019 at 11:01 pm
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    You go to any, ANY other candidates' comment section and half of the comments is of detracts, to the right or to the left (the other half being mostly celebrity cult). As I scroll down Yang's related videos, there's hardly any detraction, it's so amazing how his message and his character appeal to such a broad spectrum. There isn't anything more unifying for the country than this, while he's the only one not calling for unity.

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  • March 28, 2019 at 3:15 am
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    Gimme that bag #yanggang.

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  • March 28, 2019 at 4:59 am
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    Yall nigga was ready for the yang bang 😎

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  • March 28, 2019 at 6:35 pm
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    Andrew yang wants to be chairman Mao and take our firearms and stat himself up as king of north America

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  • March 29, 2019 at 3:34 am
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    I wonder if my landlord will raise rent if they know I have an extra 1,000 a month?
    What about those greedy profit hungry corporations? Will they start to raise prices if demand for goods increase?
    The fastest way to make everyone poor is to create more money. (inflation, hyperinflation, fiat).
    Cheap money won't solve our problem. We need sound/hard money.

    Love the concept and intention behind UBI, but there is a Ƀetter solution.

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  • March 29, 2019 at 5:34 am
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    I love this guy. Hope to be able to donate to him again soon.

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  • April 6, 2019 at 4:03 am
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    He will be my only candidate for our next president

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  • April 7, 2019 at 4:44 pm
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    If you give someone an extra $1000 a month they will still overspend and not have enough at the end, just like before..

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  • April 7, 2019 at 4:49 pm
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    Like this guy or not, this is what helping him get votes. I am making sure everyone is aware of this guy. Directly or indirectly.

    I am by no means the type of guy who believes it matters too much who the president is but I would like to see this guy in office more than the other candidates because who is going to say no to $1000 a month?

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  • April 8, 2019 at 10:26 pm
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    This is well and good. Unfortunately, America is ready to take this radical approach.

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  • April 9, 2019 at 12:30 pm
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    This is beyond true…American’s IQ was at an all time low when it elected Trump !

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  • April 10, 2019 at 5:25 pm
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    I'm not even American, but I'm going to donate to Andrew Yang. I just hope that the rest of the world (and also my home country) can be influenced by Yang's method of doing politics.

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  • April 15, 2019 at 12:24 am
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    #yang2020

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  • April 15, 2019 at 5:10 am
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    Our next President!!!

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  • April 17, 2019 at 5:34 pm
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    This is what I've been trying to explain to so many anti-American foreigners for so many years.

    "Haha Americans are so stupid. Come save us" We're insulted and called stupid then demanded to go save the rest of the world when the reason we're so stupid is because we can't even save ourselves.

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  • April 22, 2019 at 7:04 pm
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    If he doesn’t win, we gotta accept the fact that we are gonna keep taking the shaft

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  • April 24, 2019 at 1:05 am
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    tolly agree.

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  • April 24, 2019 at 9:38 pm
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    this is a really polite way to say that most americans are dimmer than they should be. but i knew that already, because i watch them vote for politicians, year after year, and expect a better result.

    Reply
  • April 25, 2019 at 11:24 pm
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    Socialism will not work let the fair capitalism do its job the real problem is we do not have a free market no free real capitalism rich powerful people manipulates the market and prints dollar to only benefit themselves

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  • April 26, 2019 at 10:54 am
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    What's the difference between Universal basic income and welfare? So you want to live with a thousand dollars a month, while the people in government and the one percent keep on getting rich?

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  • April 26, 2019 at 1:04 pm
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    In times in my life when I had been laid off(I am in IT and my jobs are mostly outsourced now) I always have a plan to retrain on a new paradigm to upgrade my skills…but I always find it difficult…I do think that when you have time and really need to retrain yourself…the bills looming in the back of your mind make it much harder.

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  • May 2, 2019 at 3:01 am
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    If aggregate demand increases unexpectedly, then, prices, output, employment, and wages go up. This will eventually tank the economy rather quickly. Experimenting with 1 person is different from a nation of 350,000,000.

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  • May 3, 2019 at 8:25 am
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    Since I've discovered Andrew Yang I don't care to even hear the other candidates anymore. This is my guy!

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  • May 11, 2019 at 1:50 pm
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    This explains the palpable low IQ of Donny Trump, who has been financially insecure his entire life.

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  • May 12, 2019 at 5:04 am
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    Dope 2020.

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  • May 12, 2019 at 9:48 am
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    Crime and incarceration will also decline significantly as this scarcity mindset is reduced by the UBI.

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  • May 17, 2019 at 3:51 am
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    Go Yang!

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  • May 24, 2019 at 9:56 pm
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    Mass low IQ immigration + dysgenic welfare

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  • May 26, 2019 at 7:39 pm
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    If you haven't check out Andrews Book "the war on normal people", all the sources you could ask for.

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  • May 27, 2019 at 1:28 am
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    wouldnt this increase inflation and lower the value of the dollar as a result?

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  • May 29, 2019 at 9:30 pm
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    Andrew is right on it's called manufactured scarcity! Scarcity equals fear, fear equals control. Abundance equals choice, choice equals freedom. We all have to recognize that manufactured fear serves a purpose and that is to control us by our minds, it's a form of enslavement. You're not free until you set your mind free!

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  • May 30, 2019 at 3:24 am
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    Makes a HELLA lotta sense. If we can spend trillions on other nonsense but not the country then this country is ridiculed.

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  • May 31, 2019 at 11:52 am
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    Yang unites the left and right! Not left or right but forward! (Registered Republican supporting Yang in 2020)

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  • June 11, 2019 at 11:30 pm
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    The next President right here!

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  • June 12, 2019 at 9:11 pm
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    He’s right. If people had money, they wouldn’t be so angry all the time.

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  • June 12, 2019 at 11:25 pm
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    I'm a Republican and this is the first candidate I've given money to

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  • June 28, 2019 at 2:40 am
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    I am so impressed with this guy. He uses facts not opinions. He analyzes those facts, summarizes them, make factual conclusions, and presents the solutions to the people.

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  • July 5, 2019 at 3:59 am
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    Many people in AI and Robotics warned dark future for Humanity. Andrew Yang will make us welcome AI and Robotics.
    https://www.youtube.com/watch?v=rnBAdnNIIXk

    Reply
  • July 7, 2019 at 4:32 pm
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    • With automation and artificial intelligence eliminating jobs, is a universal basic income the only thing that saves us?

    …. Welcome to today. It's rare for a worker to stay at a single job for longer than 4.2 years, according to an Economic News Release from the U.S. Bureau of Labor Statistics. https://www.bls.gov/news.release/pdf/tenure.pdf

    • The Skilled and the Unskilled

    – Workers without a specific skill are slotted in, like cogs in a machine, to a never-ending stream of manufacturing or service jobs. Their pay is low and the number of hours worked is long.

    – Employers are pleasing their stock holders by extracting maximum value from their workforces by slashing wages and scaling back benefits. Employees are dealing with weakened unions, and rising costs of health care and education.

    – Automation and artificial intelligence are hitting this group the hardest, eliminating jobs at an alarming rate. For every manufacturing job lost to outsourcing in recent years, eight manufacturing jobs have been lost to automation. https://www.theglobeandmail.com/report-on-business/rob-commentary/trump-cant-resuscitate-the-rust-belt-and-his-voters-may-well-know-it/article32801941/

    – The number one job in the U.S. is truck driver, with 7.4 million Americans having jobs tied to the trucking industry. What happens if driverless trucks take over?

    – The job of a travel agent has largely disappeared, with more and more people booking their trips over the Internet. Video store workers have long since been replaced by streaming services, and even cashiers at stores and fast-food restaurants are under pressure with more and more self-checkout options.

    THE RISE OF AI AND EMPLOYMENT: HOW JOBS WILL CHANGE TO ADAPT

    • Workers with a specific skill flit from job to job, often ending up as part of the "gig economy". These people work sequentially for different companies, but competition for available gigs means pay can be low.

    – A subset of this group are the so-called "digital nomads". These folks take their skills and laptops on the road, searching for the perfect beach with a hi-speed internet connection, of course. A recent posting on a digital nomad Facebook group asked, "Has anyone found a low cost city outside the West with a beach, fast wifi (25mbps), no blackouts/brownouts, and no visa runs necessary?"

    – At the top of the heap are the entrepreneurs – people with particular skill sets or interests. This group seems to be limited to a small set of computer engineers situated around California's Stanford University. Where does this leave the rest of us?

    • Trying to Survive

    – A May 24, 2019 CNBC story about credit card agency Experian's report highlighted that the average American is carrying $6,506 in credit card debt.

    – Most shocking was the fact that 23% of Americans say that they are using their credit cards to pay for basic necessities, such as housing, utilities and food. A further 12% said the biggest portion of their credit card debt was medical bills.

    – If one of the bulwarks of capitalism is consumerism, then these people aren't using their cards to consume, but to survive. The same article states that middle class life is now 30% more expensive than it was 20 years ago, with the costs of housing, child care and college having risen dramatically.

    – During those years, housing prices in some popular cities have quadrupled, while tuition at public universities has doubled.

    – Just Scraping By

    – The new norm seems to be just scraping by. The same CNBC article says that a majority of Americans have less than $1,000 in savings, and quotes an American Payroll Association report which says that, more than 70% of U.S. adults say they’d be in a difficult situation if their paycheck was delayed by even a week.

    • Technology has led to the eliminating the hierarchies of middle management to cut costs.

    – This is a trend that researchers have noted since the early 1990s, particularly as technology began to make many of the tasks performed by mid- and junior-level managers obsolete. Kropp said it reached a fever pitch during the Great Recession, when companies sought to lay off middle managers in an effort to cut costs.

    – While that cost-cutting strategy was initially approached as a temporary one, many companies see value in less hierarchy. “They didn’t see employee performance radically decline, and they didn’t see turnover dramatically increase,” Kropp said. “So they’re saying, ‘If performance and retention didn’t change, and we saved a lot of money, why would we put those costs back in?’”

    – Elon Musk wrote, “We are flattening the management structure to improve communication, combining functions where sensible and trimming activities that are not vital to the success of our mission.”

    – The major unintended consequence of corporate flattening has been a lack of opportunities for career advancement within companies, Kropp said. And promotions have long served as a major conduit for raises, he added. What’s more, employees are staying at their companies longer. The median tenure n 2000 was 3.5 years, according to the BLS. In 2016, it was over 5 years.

    – Rather than give staff higher wage increases or in recreating the middle-manager positions that were eliminated, Kropp said that companies have turned to other investments, including automation technology. “Chief financial officers still have a hangover from 2008,” Kropp said. “They’re worried if they increase the wage rate, then a recession is going to come and bad things will happen.”

    § https://www.marketwatch.com/story/this-theory-could-help-explain-why-wages-arent-rising-faster-2018-08-06?&mod=mw_theo_homepage

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  • July 7, 2019 at 4:33 pm
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    • WELCOME TO 2019, the Era of the "SHADOW WORKFORCE" of temps, part timers, contractors and contingent workers, and 'domestic out-sourcing.'

    – A wide array of temps, contractors and contingent workers are playing an increasingly large role in offices across the globe. As it turns out, these people who work with (rather than for) Google now outnumber the company’s actual employees, The New York Times reported this week, based on an internal document the publication obtained. Google is far from alone. Studies have suggested that almost all of the job growth that occurred between 2005 and 2015 stemmed from “alternative” work arrangements including temping, contract work, on-call workers or jobs in the gig economy as independent contractors or freelancers.

    – Other research has suggested that more than one-third of U.S. adults earned money through some form of informal work. Employers are driven by a desire to save money on wages and benefits, said Keith Cunningham-Parmeter, an employment lawyer and professor at Willamette University in Salem, Ore. “It has been an ongoing project of American businesses from the 1970s to off-load risk onto workers,” Cunningham-Parmeter said. Off-loading that risk, he said, takes many forms.

    ○ https://www.marketwatch.com/story/google-has-more-temp-and-contract-workers-than-actual-employees-but-they-have-far-fewer-rights-2019-05-30?mod=mw_theo_homepage

    – The difference between being an employee versus an independent contractor is significant, said Keith Cunningham-Parmeter, a professor at Willamette University College of Law. “Depending on which side of the line you fall on, you either get this huge basket of rights or basically nothing,” Cunningham-Parmeter said. Most employment rights do not extend to independent contractors. For instance, companies are not required to pay independent contractors a minimum wage or overtime, provide them health insurance or give them regularly scheduled breaks.

    – But the differences between rights someone is an entitled to as an employee — but not as an independent contractor — can be even more mundane. Independent contractors are responsible for paying their own taxes. And independent contractors aren’t necessarily entitled to unemployment or workers’ compensation unless they have paid into those funds themselves.

    ○ https://www.marketwatch.com/story/uber-doesnt-want-its-drivers-to-be-employees-heres-why-that-matters-2017-11-13

    • Half of Americans are just one paycheck away from financial disaster    Many consumers would turn to dangerous fallback options in order to make ends meet

    – After missing a paycheck, something as simple as grocery shopping can look bleak for many Americans.   Missing more than one paycheck is a one-way ticket to financial hardship for nearly half of the country’s workforce.

    – A new study from NORC at the University of Chicago, an independent social research institution, found that 51% of working adults in the United States would need to access savings to cover necessities if they missed more than one paycheck.

    – Certain communities were more prone to economic hardship in the event of missing a paycheck. Roughly two-thirds of households earning less than $30,000 annually would be unable to cover basic living expenses after missing more than one paycheck, the researchers found.

    – And nearly a fifth of consumers would rely on a payday, auto or other short-term loan. These loans, which can carry interest rates upwards of 600%, can easily sink borrowers into an inescapable debt cycle and wreak havoc on their credit score.  This is the thing most likely to cause you financial ruin — but few prepare for it.   Millions of senior citizens can’t afford food — and they’re not all living in poverty.   The vast majority of women who receive an abortion say they cannot afford a child.

    – Though wage growth has accelerated recently, those gains have been concentrated among the wealthiest Americans most.

    ○ https://www.marketwatch.com/story/half-of-americans-are-just-one-paycheck-away-from-financial-disaster-2019-05-16?mod=MW_home_top_stories

    •  Three in 10 Americans do gig work of some kind, a broad class of temporary employment that covers everything from babysitting and house cleaning to driving for ride-sharing applications such as Uber and Lyft, according to the Fed’s annual report on the financial health of U.S. households. Most who rely on gig work are in financially fragile state. Those who depend on such work are struggling to make ends meet. Nearly one-fifth of gig workers rely on it for their main source of income, and more than half of these people would have a hard time affording an unexpected $400 expense.

    ○ https://www.bloomberg.com/news/articles/2019-05-23/gig-workers-are-living-on-the-financial-edge-fed-research-finds?srnd=fixed-income

    Reply
  • July 7, 2019 at 4:33 pm
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    THE FULL EMPLOYMENT PUFFERY OF THE GOVERNMENT WHITE WASHES THE GAPPING POTHOLES IN OUR WORKFORCE

    • Remember Trump's own words when he was a candidate, saying that the unemployment rates are fake news, and said the real unemployed rates are 42%, grotesquely worse. Not surprising that now he is President he just loves the fake unemployment rate news. 19 times Trump called jobs numbers ‘fake’ before they made him look good.

    https://www.washingtonpost.com/news/wonk/wp/2017/03/10/19-times-trump-called-the-jobs-numbers-fake-before-they-made-him-look-good/?noredirect=on&utm_term=.d1b0bcbcef18

    • The rosy headline US unemployment rate of 3.6% masks the actual US labor participation rate of only 63%, about the same as Ecuador and Costa Rico.

    ○ https://en.wikipedia.org/wiki/Labor_force_in_the_United_States

    ○ https://data.worldbank.org/indicator/sl.tlf.cact.zs?year_high_desc=false

    • The Labor Participation rate is the number of people who actually have jobs or are looking for jobs (and only still looking in the last 4 weeks), as a percentage of all the people who can work.

    • So in 2018 our labor participation rate of 63% means that 37% of people who are able to work, have given up looking for work even though they are able to and want to work.

    • The Employment rate is the percentage of people in our 63% Work Force that have either full time jobs OR PART TIME JOBS.

    • So in 2018, 4% are unemployed amongst the 63% of our work force who are very narrowly defined as "active" participants.

    ○ https://www.epi.org/newsroom/useful_definitions/

    • If the economy is so great, why are 78 million hustling for dimes?

    – The Federal Reserve has just published a study that sheds some light on this hidden part of the economy. The Survey of Household Economics and DecisionMaking delves into how people feel about their economic lives and why they make the decisions they do. Surveys like this add shadings that the regular data miss. The SHED found that about 31% of adults participate in what the Fed called “the gig economy” — work done outside of regular employment structures. That looks huge — about 78 million people. However, most of these people are working five hours a month or less on their side hustles, and the kinds of activities this survey considers to be “gigs” is far broader than what other researchers consider, including selling goods and services online or in real life, or picking up a few hours of babysitting.

    – Few are getting rich off their gigs. Mishel found that Uber drivers made $11.77 per hour on average after deducting their overhead and marginal costs but before paying payroll and income taxes. Most work less than 20 hours a week, and turnover is very high. The major attraction is being able to set your own working hours, your own schedule.

    – About twelve million of these workers get less than three days’ notice for their schedule. About a third get a day or less. Many are on call, which means they aren’t working nor can they really make other plans.

    – Imagine for a second trying to juggle life when you have no idea what time you’ll have to go to work, or even if you’ll be offered a shift at all. How would you fit in school, or family responsibilities, or a second job? Even regular sleep is a challenge.

    –  In one study, workers were willing to give up about a fifth of their wages in exchange for a more predictable work life. No wonder these jobs have high turnover.

    – Not everybody who has a side hustle or who works a erratic shift wants a regular full-time job, of course. But millions of people would like a job — or a better job, with higher pay, more reliable hours, more generous benefits, and more humane working conditions.

    – The only way that can happen on a broad scale is for the economy to get even stronger. The Fed ought to get out of the clouds and see that the economy is still failing for many Americans.

    – The Fed might think that 3.8% unemployment is the “Mission Accomplished” signal. Millions of people scrambling for dimes disagree.

    ○ https://www.marketwatch.com/story/if-the-economy-is-so-great-why-are-78-million-hustling-for-dimes-2018-06-01

    Reply
  • July 13, 2019 at 12:15 am
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    Andrew Yang is the only president to be who talks honestly about this very crucial issue; the mind of scarcity versus the mind of abundance. Awesome!! Make Andrew Yang your president.

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  • July 21, 2019 at 8:38 pm
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    Should people who are financially insecure, having sunk (lowered) IQ scores be allowed to VOTE!!!!?????

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  • July 24, 2019 at 11:20 pm
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    Andrew Yang is the guy that opens the bottle cap with ease after everyone else has used all of their muscles, emotions and platitudes to get it done.

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  • July 29, 2019 at 3:58 pm
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    https://www.washingtonpost.com/business/2019/07/24/private-equitys-role-retail-has-decimated-million-jobs-study-says/?noredirect=on&utm_term=.a1bb6fd46914&wpisrc=nl_most&wpmm=1

    Reply
  • August 1, 2019 at 3:42 pm
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    When I am stressed out financially, I get depressed real quick. When I don't have to worry about it, I'm much happier and motivated. Yang 2020 let's go all the way! If you support him please donate, spread the word, and volunteer!!

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  • August 2, 2019 at 8:22 am
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    All presidential candidates should be required to take intermediate courses in economics. We've advanced economics this far, and it's been this advanced for a LONG TIME, it only makes sense for the leader of the free world or ANY COUNTRY who has the power and role to manage economy do so the best informed way! It's when it most matters, so what the fuck is the point knowing if all this braindead bullshit goes on!

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  • August 3, 2019 at 4:21 am
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    I've always noticed that those with more money tend to be better educated. However, it doesn't always make you a better person. Please don't rely on the news media to tell you who to support. I just saw a clip where Yang was interviewed at 1 a.m. by CNN after the second debate. He should have been 1st or second.

    Reply
  • August 6, 2019 at 5:09 am
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    We believe in you Andrew Yang. He will save us from the technocrats! #YANG2020

    Reply
  • August 6, 2019 at 5:09 am
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    We believe in you Andrew Yang. He will save us from the technocrats! #YANG2020

    Reply
  • August 6, 2019 at 5:09 am
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    We believe in you Andrew Yang. He will save us from the technocrats! #YANG2020

    Reply
  • August 6, 2019 at 5:09 am
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    We believe in you Andrew Yang. He will save us from the technocrats! #YANG2020

    Reply
  • August 6, 2019 at 5:09 am
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    We believe in you Andrew Yang. He will save us from the technocrats! #YANG2020

    Reply
  • August 7, 2019 at 8:09 pm
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    Brilliant.

    Reply
  • August 11, 2019 at 6:16 pm
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    I think the slaves to payment era is ending luckily it only lasted about 30 years

    Reply
  • August 14, 2019 at 3:31 am
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    when you have money you are happier, make better decisions, more generous
    when you are broke you are depressed, make stupid decisions, cheap as hell

    vote for this guy ! spread the word ! donate !
    MATH !!!!!

    Reply
  • August 20, 2019 at 10:25 pm
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    Yang is MATH guy and math is all logic and facts.

    Reply
  • August 26, 2019 at 4:11 am
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    Andrew Yang = A Mind Set Abundance = Higher IQ = Better Decision Making = Happiness. America we can it make it happen!

    Reply
  • September 2, 2019 at 6:47 am
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    100% True.

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  • September 11, 2019 at 6:52 am
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    sold! got my vote

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  • September 14, 2019 at 3:21 am
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    It honestly feels so good to hear a mature candidate after almost 4 years of that orange man in office.

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  • September 20, 2019 at 5:32 am
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    So you're stressed out about bills and are distracted so you get a lower score on an IQ test, imagine that. So this idiot actually thinks that giving people free money is going to create entrepreneurs? I guess this might explain why our elected politicians that are bankrupting the country financially appear to have a negative IQ.

    Reply

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