*YIKES! Low-Income Families Spend 40% of their Money on Luxuries
It turns out that all Americans, regardless of income, spend a large percentage of their income on luxuries. People who make the most money spend the biggest chunk of their incomes on luxury goods, but even the poorest households spend a significant amount for luxuries, according to an analysis released this week by Deutsche Bank Research. The wealthiest families (the top fifth of earners) spend around 65% of their incomes on luxury goods and 35% on necessities, according to the study, which looked at spending habits between 1984 and 2014. Middle-income households weren’t far behind: They spend 50% on luxuries and 50% on necessities. Even the lowest income families (the bottom fifth of earners) spend 40% on luxuries and 60% on necessities, according to the study’s author, Torsten Slok, chief international economist for Deutsche Bank Securities.
*Iraq Declares ISIS Caliphate ‘Has Fallen,’ Victory in Mosul
The Iraqi government has declared the end of ISIS’s rule in Mosul after recapturing the remains of the historic Grand al-Nuri Mosque in the terror group’s de facto capital in the country. “Their fictitious state has fallen,” said Iraqi military spokesman Brig. Gen. Yahya Rasool. The victory marks the end of more than eight months of all-out war in the city, where ISIS declared its caliphate three years ago. Thousands of civilians have been killed in the fighting. The last Islamic State fighters in Mosul are reported to be cornered in only a small number of neighborhoods in the Old City, according to Iraqi officials. The 800-year-old mosque’s minaret, an iconic symbol to Iraqis, was leveled last week in what was believed to be an ISIS bombing. Prime Minister Haider al-Abadi has “issued instructions to bring the battle to its conclusion,” according to his office, and is reported by Kurdish media outlets to be heading to the city to deliver a “victory speech.”
*Melania Responds: Trump ‘Will Punch Back 10 Times Harder’ When Attacked
In response to the president’s Thursday morning tweets waging personal war against MSNBC’s Morning Joe co-hosts Joe Scarborough and Mika Brzezinski, Melania Trump’scommunications director said the first lady supports her husband’s attack. “As the first lady has stated publicly,”Stephanie Grishman told CNN, “when her husband gets attacked, he will punch back 10 times harder.” Deputy White House press secretary Sarah Huckabee Sanders also defended the president, saying he is someone who “fights fire with fire.” President Trump tweeted that he rejected requests by “Crazy Mika” and “Psycho Joe” to spend time together around New Year’s Eve, when he claimed Brzezinski had been “bleeding badly from a face-lift.”
*LBN-INVESTIGATES: Credit Scores
· According to a recent study by Experian, Gen Y-ers have the lowest Vantage Scores of the four generations (the Vantgage Score was established in 2006 by the three main credit bureaus to compete with Fair Isaac’s FICO score). Gen Y has a credit score of 672, Gen X (ages 30-46) has an average score of 718, Baby Boomers (47-65) have a 782, and the Greatest Generation (66+) have an average of 829.
· There is an online dating service called CreditScoreDating.com for those who are concerned with the financial situation of a potential mate. The site’s motto is “Credit Scores Are Sexy.”
· One in 4 unemployed Americans have been required to go through a credit check when they applied for a job. One in 10 has been denied a job due to information on their credit report.
· On average, African-American and Latino households have worse credit scores than white households.
· Not everyone has a credit history. If someone has never had a credit card, he or she will not have a credit or FICO score.
· Occupations that regularly check an applicant’s credit score are 1) parking booth operator, 2) the military, 3) accounting, 4) mortgage loan originator, 5) Transportation Security Administrator (TSA), 6) law enforcement, and 7) temporary service positions.
· The Bangladesh-based Grameen Bank uses gender in its credit scoring model and lends exclusively to women. Women are seen as more responsible borrowers than men.
· The widely used FICO (Fair Isaac Corporation) score is based on the work of engineer Bill Fair
and mathematicianEarl Isaac
who founded the firm Fair Isaac in 1956. They developed the first credit bureau-based scoring system in the mid-1980s.
*Australian Cardinal and Aide to Pope Is Charged With Sexual Assault:
Australia’s senior Roman Catholic prelate, and one of Pope Francis’ top advisers, has been charged with sexual assault, the police in the Australian state of Victoria said on Thursday. The prelate, Cardinal George Pell, became the highest-ranking Vatican official in recent years to face criminal charges involving accusations of sexual offenses. The case will test the credibility of Francis’ initiatives to foster greater accountability after abuse scandals that have shaken the church around the world. “Cardinal Pell has been charged on summons, and he is required to appear at the Melbourne Magistrates’ Court” on July 18, Shane Patton, the deputy police commissioner, said at a news conference. The charges were served on the cardinal’s legal representatives in Melbourne. Commissioner Patton said there were multiple complainants but refused to provide further details about them, including their ages.
*WHO READS LBN? Accredited Senior Appraiser, Xiliary Twil, ASA
*Sex Can Make You Healthy:
If you need the motivation to choose hot action in bed over the action on telly this weekend, we’ve rounded up the major health reasons to have sex tonight – or any night. In fact, making love could be one of the few pleasures in life that is genuinely good for you, say researchers. A new study from Coventry University has even just found that frequent sexual activity in older adults can boost brain power. Researchers found that people who engaged in more regular sexual activity scored higher on tests that measured their verbal fluency and their ability to visually perceive objects and the spaces between them.
*LBN-MEDIA INSIDER: ***Rupert Murdoch may have to wait another six months to find out whether his long quest to buy Sky will become a reality after British authorities on Thursday asked regulators to further examine 21st Century Fox’s deal for the European satellite giant. The announcement was part of a split decision on 21st Century Fox’s 11.7 billion pound, or $15 billion, deal to take over the remainder of Sky that it does not already own. The government also ruled that Mr. Murdoch and other company executives were “fit and proper” to hold broadcasting licenses in Britain. ***SiriusXM announced Wednesday that veteran DJ Rodney Bingenheimer will host a new weekly music show on SiriusXM’s Little Steven’s Underground Garage channel. It will premiere on Sunday, July, 16 at 9:00 pm ET, 6:00 pm PT, on SiriusXM’s Underground Garage, via satellite on channel 21 and through the SiriusXM app on smartphones and other connected devices, as well as online at siriusxm.com.
*Nicole Kidman Loved Eating Worms
Eating bugs doesn’t bug Nicole Kidman. “The first professional job [I had] was ‘Bush Christmas,’ which was a film I did in Australia,” she told W Magazine. “I was 14, it was shooting out in the bush in Queensland, and I got to eat witchetty grubs. Do you know what witchetty grubs are? They are worms that live in the earth, and they’re a milky white color, and I eat them in the film,” she boasted. The future Oscar winner didn’t even need coaxing to gorge on the grubs. “I wanted to eat them! I was excited to do that,” Kidman, 50, insisted. “I’m one of those people. I could go on ‘Survivor’ and I wouldn’t be good at the climbing and all of the physical stuff, but I could eat anything. Just so you know. That’s my secret skill. Give me a cockroach, I’ll eat it! Spider, I’ll eat it! You name it, I’ve tried it. I’m adventurous.”
*LBN-HOLLYWOOD INSIDER: ***Steven Yeun has signed with UTA. He previously was with Paradigm. The move comes a year after the actor’s departure from AMC’s The Walking Dead last season, when his fan-favorite character, Glenn, finally met his much-publicized fate. Now a free agent, Yeun was one of this pilot season’s most in-demand actors, fielding multiple offers from various shows.
*LBN-R.I.P.: ***Anthony Young, who lost 27 consecutive decisions pitching for the woeful New York Mets of the early 1990s, setting a major league record while becoming something of a national celebrity, died on Tuesday in Houston. He was 51. His family confirmed the death. Young said in January that he had an inoperable brain tumor.
*LBN-SPOTLIGHT: Thomas Sowell
– 3 Questions for the Left —-
Thomas Sowell asks three questions of the left with a claim that it is rare that the answers are readily available. This video frames the housing market crash from 2008 and challenges those on both the Right and Left. When a social policy is adopted and becomes a top priority – asking honest questions is the only way of ensuring you remain objective. The radical left today appears to run into difficulty when those same —-https://youtu.be/Do6wp9Vydys
*LBN-COMMENTARY by Kate Murphy: “People tend to blame the last thing they ate, but it’s probably the thing before the last thing they ate,” said Dr. Deborah Fisher, a gastroenterologist and associate professor at Duke University School of Medicine. It takes the stomach around four to six hours to empty a full meal, and then the small intestine takes about six to eight hours to squeeze out all the nutrients and empty into the colon. The remains linger there for another one to three days, fermenting and being formed into what ultimately is flushed down the toilet. So-called bowel transit time varies significantly from person to person, but gastroenterologists said you can easily find out what’s normal for you by eating corn and watching for when the indigestible kernels appear in your stool.
*LBN-COMMENTARY by John Mayer: I put pot where drinking used to go, and the quality of life has gone up considerably. Drinking is a fucking con. How much is enough? Every time I drank, I was looking for some sort of regulated amount. It always feels wrong for me. I always feel like I went overboard. “I said two, now it’s three, now we’re at four?” I never had a serious issue with it, but I remember looking around going, “This feels rigged. I’m taking a break. There’s never an amount that felt like I was succeeding at life. It always felt wrong.
*LBN-A DIFFERENT VIEW:….
*LBN-OVERHEARD: ***Rob Lowe says he thought he was going to be killed during an encounter with a bigfoot creature while filming his new A&E docuseries. Lowe tells Entertainment Weekly the encounter took place in the Ozark Mountains, which stretch between Arkansas, Missouri and Oklahoma. Lowe says he and his sons were camping there to investigate a bigfoot-like creature known to locals as a “wood ape” during a shoot for “The Lowe Files” when something began to approach their camp. Lowe says he was lying on the ground thinking he was going to be killed. He adds that he’s “fully aware” the story makes him sound like “a crazy, Hollywood kook.”