National News

Meet Generation Z

Marketplace - American Public Media - Mon, 2014-11-17 12:08
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One sure sign that college application season is in full swing at Bethesda-Chevy Chase High School, outside of Washington, D.C.: Students are pouring in to the office of CollegeTracks, a program that helps students from low- and moderate-income families navigate the process.

The office is packed with students seeking help, because this generation of high school students has heard over and over again — from their parents, their teachers, their president — that college is a must.

“Nowadays you need a degree to get a good job,” says Daniel Roa, 17.

“It’s kind of something that everyone does now,” says Alexandra Haller, 18.

“That’s the extra step we need to fulfilling what we want to be when we’re older,” says Adam Mungani, 17.

These students — all seniors at Bethesda-Chevy Chase — are part of the first wave of Generation Z. If you haven’t even heard of Gen Z, don’t worry. Neither had they.

“I have no idea what that means,” says Haller, blond with pink lipstick and glasses. “The last generation?”

Gen. ZReality 42% expect to work for themselves in their career11% of working Americans are self-employed 36% expect to pay for college mainly with scholarships or grants59% of undergrads received grants in 2011 $100monthly student loan payment most students said was manageable$242average monthly student loan payment 29% consider a $100,000 annual salary rich22% of Americans earn $100,000 or more annually 17% expect to pay for college mainly with student loans67% of undergrads received loans in 2011 Source: Northeastern University

Gen Z, or the iGeneration as some have called it, refers to those born since roughly 1995. These are kids who have never known a world without the Internet and smartphones. And they’re just starting to hit college.

Marketplace teamed up with Northeastern University to survey the latest crop of college-bound teenagers, aged 16 to 19. About two-thirds of them plan to attend at least some college right out of high school.

The big question is how to pay for it. Two-thirds said they were “concerned” about being able to afford college. When I bring up the notion of loans, the students I talk to recoil.

“Last resort,” says Haller.

“It’s not worth the debt,” says Tamara King, 17, who has long hair and braces.

It’s no wonder they’re down on debt. The first wave of Gen Z watched their parents struggle through the recession. They saw older brothers and sisters graduate and not be able to get jobs.

 “Didn’t the president just finish paying off his student debt, like, a year ago?” asks King.

Actually, it was like 10 years ago. But still.

“I mean he’s the president,” she says. “In the end, it was a good result, but I wouldn’t want that.”

So where will the money come from? Almost a quarter of the students surveyed said mainly from their parents. More than a third expect grants and academic scholarships to foot most of the bill. That may be unrealistic, says Heather O’Leary, who studies Gen Z as an analyst with the higher ed research and advisory firm Eduventures.

“Our research also has shown that students are expecting an inordinate amount of merit-based and need-based scholarships, even students whose families are coming from very high income levels,” she says.

Colleges are partly to blame for the false expectations, O'Leary says, because they set high tuition prices, then compete for students by offering them discounts in the form of financial aid.

“It also falls to parents who have been telling them from a very early age they’re all very special snowflakes and they should be recognized for that individuality,” she says.

The individuals I talked to don’t expect college to come easy. They plan to work, or to save money by starting at community college. What they do expect, just like most of the kids who took the survey, is for college to prepare them for careers. They want schools to offer courses in entrepreneurship and to build in practical experience through things like internships.

Tiffany King, Tamara’s twin sister, plans to complete as many internships as possible.

“Even if you graduate and you wave around, 'Hey, I got my college degree,' where’s your experience in that field?” King says.

Despite their worries, this is a confident bunch. A striking number of them — 42 percent — plan to work for themselves during their careers. That’s nearly four times the percentage of American workers who are self-employed.

Almost two-thirds expect to be better off financially than their parents. Mungani, the son of Somali immigrants who didn’t go to college, says his generation has time.

“Our economy now will change after we graduate college,” he says. “So just keep your head high and your hopes up that you can get a job.”

Not that these kids have the luxury worry much about life after college.

“I honestly can’t think that far, because I’m worried about getting into college,” says Haller.

Tires and civil war: America's business with warlords

Marketplace - American Public Media - Mon, 2014-11-17 12:07

Back in 1926 an American named Harvey Firestone cut a deal with the government of Liberia.

The African country, which had been founded in 1847 by freed American slaves, sold Firestone a million acres of land chalk-full of rubber tree plants for just six cents an acre. The deal created the world's largest rubber tree plantation and deeply intertwined Liberia and the Firestone Tire Company. But starting in the late 1980s, the relationship became much more complicated. A series of political uprisings and coups led to the takeover of a large portion of Liberia by infamous warlord Charles Taylor. 

“Charles Taylor became the first person since Nazi Germany as a head of state to be convicted of crimes against humanity,” says T. Christian Miller, a ProPublica’s reporter who worked on the documentary “Firestone and the Warlord" with Frontline. The film focuses on a decision Firestone made after Taylor took over: the decision to go back and try to rebuild the plantation.

“This becomes a story about choices,” Miller says. “The choices that a big American corporation faces when it comes into contact with a violent guerrilla leader, which happens all the time.”

The film digs up more than 200 documents that for the first time reveal a deal cut between Firestone and Taylor to bring their business back to Liberia. To many Liberians and even some U.S. diplomats, Miller says, the deal helped fund the warlord’s rampage and reign, thereby leaving the company with blood on its hands. But Firestone insists to this day that it was just conducting business as usual.

“They would deny that,” Miller says. “They were not there to help Charles Taylor fight a war. They were there to run their business. And as part of having to run their business they had to pay taxes to the guy who was in charge. At that time Charles Taylor was in charge.”

In California, That MRI Will Cost You $255 — Or $6,221

NPR News - Mon, 2014-11-17 12:06

It's almost impossible to comparison shop for medical tests and procedures. A crowdsourcing experiment by two NPR member stations in California is aimed at making those numbers less mysterious.

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Why Sterilization Is The Most Popular Form Of Family Planning

NPR News - Mon, 2014-11-17 11:38

The tragic news from India of women dying after being sterilized is not the norm. More than 200 million women a year rely on this procedure. Under proper conditions, complications are minimal.

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Sandwich Monday: Papa John's Frito Chili Pizza

NPR News - Mon, 2014-11-17 11:25

For this week's Sandwich Monday, we try an innovative new pizza from Papa John's. It's covered with Fritos and chili.

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U.K.'s Anglican Church Will Enable Women To Become Bishops

NPR News - Mon, 2014-11-17 11:02

"Today we can begin to embrace a new way of being the church," the Archbishop of Canterbury says. The move comes two decades after the church first ordained women as priests, in 1994.

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A setback for Japan's 'Abenomics'

Marketplace - American Public Media - Mon, 2014-11-17 11:00

On Monday, Japan released gross domestic product numbers that signaled the country has officially slipped into recession. Instead of the modest economic growth that had been forecast, the economy shrank by 1.6 percent — the second consecutive quarter of contraction.

It was seen as a setback for Prime Minister Shinzo Abe's "Abenomics" program. Abe's government has sought to revive the long-stagnant Japanese economy primarily through stimulus, but officials recently raised a red flag on the country's ballooning debt load. They said they needed to deal with the debt issue at the same time as the growth issue, and decided raising money by increasing the sales tax was the best approach.

It was, in a sense, the result of a treatment for one ailment (ballooning debt) exacerbating a second malaise (low growth).

"Sometimes in medical treatments there are certain kinds of medicines that are lethal in large doses but beneficial in small doses," says David Stockton, senior fellow at the Peterson Institute for International Economics. "Maybe in this case the dosage was just too hard for the patient, and the patient has relapsed now."

 The “dosage” in this case was a 5 to 8 percent increase in the sales tax, beginning in April of this year.

"Sales taxes are typically on goods," says Liz Malm, economist at the Tax Foundation research group. "You’ve got the classic law of demand kicking in here where if the price of a good goes up, you tend to get less consumption of a good."

 In Japan’s case, those goods included  durable, big-ticket items like homes.

"If you’re buying eggs every week, you’re not going to stockpile eggs, because they’re gonna go bad," says  Josh Hausman, an assistant professor of public policy at the University of Michigan.

Japanese consumption increased prior to the April tax hike, but then decreased afterward. Many economists expected this to result in contraction in the second quarter, but most expected the economy to revert to growth in the third quarter. 

"I think this sort of adds to a growing body of evidence that contractionary fiscal policy – so raising taxes or cutting spending –can be quite damaging," says Hausman. "More damaging than many economists might have expected."

 Abe is now widely expected to delay a second dose of sales tax increases scheduled for October, 2015.

How a sales tax pushed Japan into recession

Marketplace - American Public Media - Mon, 2014-11-17 11:00

On Monday, Japan released GDP numbers that signaled the country has officially slipped into recession. Instead of the modest economic growth that had been forecast, the economy shrank by 1.6 percent—the second consecutive quarter of contraction.

It was taken as a set-back for Prime Minister Shinzo Abe's "Abenomics" program. Abe's government has sought to revive the long-stagnant Japanese economy primarily through stimulus, but officials recently raised a red flag on the country's ballooning debt load. They said they needed to deal with the debt issue at the same time as the growth issue, and decided raising money by increasing the sales tax was the best approach.

It was, in a sense, the result of a treatment for one ailment—ballooning debt—exacerbating a second malaise—low growth.

"Sometimes in medical treatments there are certain kinds of medicines that are lethal in large doses but beneficial in small doses," says David Stockton, senior fellow at the Peterson Institute for International Economics. "Maybe in this case the dosage was just too hard for the patient and the patient has relapsed now."

 The “dosage” in this case was a 5 to 8 percent increase in the sales tax, beginning in April of this year.

"Sales taxes are typically on goods," says Liz Malm, economist at the Tax Foundation. "You’ve got the classic law of demand kicking in here where if the price of a good goes up, you tend to get less consumption of a good."

 In Japan’s case, those goods included  durable, big-ticket items like homes.

"If you’re buying eggs every week, you’re not going to stockpile eggs, because they’re gonna go bad," says  Josh Hausman, Assistant Professor of Public Policy at the University of Michigan.

Japanese consumption increased prior to the April tax hike, but then decreased afterwards. Many economists expected this to result in contraction in the second quarter, but most expected the economy to revert to growth in the third quarter. 

"I think this sort of adds to a growing body of evidence that contractionary fiscal policy, so raising taxes or cutting spending, can be quite damaging," says Hausman. "More damaging than many economists might have expected."

 Abe is now widely expected to delay a second dose of sales tax increases scheduled for October, 2015.

Falling oil prices hurt state budgets

Marketplace - American Public Media - Mon, 2014-11-17 11:00

Oil prices are falling. Good news, right? 

It all depends on where you sit. If you’re trying to balance a state budget that relies heavily on oil taxes, it’s crunch time.

Louisiana, which has relied on oil and gas tax revenue for 12 to 15 percent of its budget in recent years, is adjusting its revenue forecasts. They now expect $90 million less from fossil fuel taxes than planned. Greg Albrecht, chief economist at the Louisiana Legislative Fiscal Office, says this past spring they expected oil prices to stay around $95 a barrel well into 2015.

“In fact, for a couple months into this fiscal year, we had hundred-dollar-plus a barrel of oil prices,” says Albrecht. 

Oil has been trading for under $80 a barrel recently. Political observers in Louisiana expect some cuts in healthcare and higher education as a result of the revenue shortfall.

In North Dakota last year oil and gas taxes made up over half of all state revenue. But Pam Sharp, director of the state’s Office of Management and Budget, isn’t predicting a disaster. State law requires most of that money go into various reserve funds, not the general fund. 

“The way the oil taxes are structured in North Dakota … I think it puts us in really good shape to weather that kind of storm,” Sharp says. 

Falling oil prices do mean less money for North Dakota's reserve funds, including the Strategic Investment and Improvements Fund. That pot of money goes to much-needed infrastructure in the oil boom state, including roads and school construction loans. Sharp does expect, however, that in this two-year budget cycle alone, North Dakota will collect $6 billion dollars in oil and gas taxes.

Lower oil prices hurt state budgets

Marketplace - American Public Media - Mon, 2014-11-17 11:00

Oil prices are falling. Good news, right? 

It all depends on where you sit. If you’re trying to balance a state budget that relies heavily on oil taxes, it’s crunch time.

Louisiana, which has relied on oil and gas tax revenue for 12 to 15 percent of its budget in recent years, is adjusting its revenue forecasts. They now expect $90 million less from fossil fuel taxes than planned. Greg Albrecht, chief economist at the Louisiana Legislative Fiscal Office, says this past spring they expected oil prices to stay around $95 a barrel well into 2015.

“In fact, for a couple months into this fiscal year, we had $100 dollar-plus a barrel of oil prices,” says Albrecht. 

Oil has been trading for under $80 a barrel recently. Political observers in Louisiana expect some cuts in healthcare and higher education as a result of the revenue shortfall.

In North Dakota last year oil and gas taxes made up over half of all state revenue. But Pam Sharp, director of the state’s Office of Management and Budget, isn’t predicting a disaster. State law requires most of that money go into various reserve funds, not the general fund. 

“The way the oil taxes are structured in North Dakota… I think it puts us in really good shape to weather that kind of storm,” Sharp says. 

Falling oil prices do mean less money for North Dakota's reserve funds, including the Strategic Investment and Improvements Fund. That pot of money goes to much-needed infrastructure in the oil boom state, including roads and school construction loans. Sharp does expect, however, that in this two-year budget cycle alone, North Dakota will collect $6 billion dollars in oil and gas taxes.

Snapchat partners with Square to present ... Snapcash

Marketplace - American Public Media - Mon, 2014-11-17 11:00

Snapchat, the app that lets you send pictures or videos that disappear after a couple of seconds, is getting into the mobile payment business.

It's a peer-to-peer payment system called Snapcash. You can use it to send money to your friends.

All you have to do is enter your bank account information, type in a dollar amount and hit the green button.

What could possibly go wrong?

To announce its new partnership with mobile payment service Square, Snapchat rolled out a promotional video. It imagines what is going on inside your phone while you are using Snapcash as a Monopoly-meets-Emerald-City, Broadway-style crossover universe.

See for yourself:

 

Snapchat partnered with Square to present: Snapcash

Marketplace - American Public Media - Mon, 2014-11-17 11:00

Snapchat, the app that lets you send pictures or videos that disappear after a couple of seconds, is getting into the mobile payment business.

It's a peer-to-peer payment system called Snapcash. You can use it to send money to your friends.

All you have to do is enter your bank account information, type in a dollar amount and hit the green button.

What could possibly go wrong?

To announce their new partnership with Square, Snapchat rolled out a promotional video. It imagines the inside of your phone while using Snapchat as a Monopoly-meets-Emerald-City, Broadway-style crossover universe.

See for yourself:

 

Halliburton To Buy Baker Hughes For $34.6 Billion

NPR News - Mon, 2014-11-17 10:56

The deal, which must be approved by regulators, would combine the world's No. 2- and No.3-biggest oilfield services provider. The new company would be a formidable rival to Schlumberger Ltd.

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Comet Lander's Big Bounce Caught On Camera

NPR News - Mon, 2014-11-17 10:46

An orbiting spacecraft caught the Philae lander bounding on the surface of Comet 67P/Churyumov–Gerasimenko. The lander sent home some scientific data before its batteries ran out.

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U.S. Tourists Accused Of Trying To Ship Preserved Human Parts Out Of Thailand

NPR News - Mon, 2014-11-17 10:23

The parts, including an infant's head, a baby's foot and an adult heart, were allegedly stolen from a medical museum. The Americans said they bought the parts at a Bangkok market, according to police.

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'Flying Doughnuts': Airbus Files Patent For A New Kind Of Plane

NPR News - Mon, 2014-11-17 10:23

The new design would seat passengers within a circular seating area rather than in short rows inside a tube.

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Quiz: Me and Gen Z

Marketplace - American Public Media - Mon, 2014-11-17 09:55

Northeastern University, in conjunction with Marketplace, surveyed American teens ages 16 to 19 to create a "Portrait of Generation Z."

Answer these 10 questions from the survey to find if you're in sync with Gen Z, and share your results.

Please upgrade your browser to use this content.

var pymParent = new pym.Parent('me-genz-container', 'http://danhillreports.com/news-quiz/index.html', {});

The Story Of A 4-Year-Old Boy Helps Explain An Ebola Surge

NPR News - Mon, 2014-11-17 09:53

Why is Sierra Leone reporting an uptick in Ebola cases while Liberia's outbreak is slowing? The chain of events in one village points up the obstacles that the country is facing.

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In Sierra Leone, Tears And Wails Mark The Death Of Dr. Martin Salia

NPR News - Mon, 2014-11-17 09:37

He was one of only 130-some doctors who served the country. When news came that he'd succumbed to Ebola, people went into shock, mourning the death of "a great hero."

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Controversial Cholesterol Drug Redeemed By Global Clinical Test

NPR News - Mon, 2014-11-17 09:34

Merck's Vytorin reduced the risk of heart attack and stroke more than a cholesterol-lowering statin alone. The findings come from an international study of more than 18,000 people in 39 countries.

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