Personal Finance PowerPoint Presentation. Asset Protection Trust for Seniors. Prepare to get financially fit by practicing personal finance. Insurance is part of our long-term risk mitigation strategy where we use the adage of measure twice, cut once, put in a formal process in place, looking something like setting the goals, develop a plan to reach the goals, put the plan in action, review the results, repeat the process periodically. Most of this information can be found at Investopedia. Asset Protection Trusts Help for Seniors, which you can find online. Take a look at the references, resources, continue your research from there. This is by Greg Dafferti, updated September 30th, 2021. In prior presentations, we've been talking about insurance in general. We moved to medical insurance, and now we're thinking about the long-term care in general and different strategies that might be used to help seniors. So Asset Protection Trusts Help for Seniors. And Asset Protection Trusts can help seniors in need of constant nursing care, pay the substantial costs of assisted living or skilled nursing facilities and at-home help. So in a situation where we're gonna need extended care for a lot of the time, that's gonna be quite expensive, so there can be certain strategies possibly for helping out at that point. Average daily nursing home costs exceed $247 and can be significantly higher in certain metropolitan areas, according to a 2019 Genworth survey. Medicare, the federal healthcare program for seniors age 65 and above, only covers nursing home expenses when one enters a facility for short-term rehabilitation. So notice when you're talking about the Medicare, then you're talking about something that is usually kind of similar to like health insurance. So it's not really designed for the long-term care, people that need constant help for forever, for some point in time, for a long-term time, it's there to help for the rehabilitation process in the event that you have kind of, hopefully a more short-term but possibly serious kind of problem that suddenly happened and could have significant costs related to that, similar with the health insurance. So we got the Medicaid, a joint federal and state program can cover the balance, but in order to qualify for the latter, a person's total countable assets, including cash and bank accounts plus investments such as mutual funds, stock and bonds can't exceed $2,000 to $3,000 depending on the state. So the Medicaid, as we've seen in prior presentations, is typically something that we think of as a safety net program. So you wanna get an idea of the differences in these federal programs, they can be kind of confusing. Was it set up like social security, Medicare, Medicaid, are they set up as something that are gonna be benefits to everyone that you can kind of rely on in retirement kind of thing or are they benefits that are given as a safety net kind of program to help people whose income is below a certain threshold? And so the Medicaid is typically kind of more designed for the latter. So if you have a significant amount of assets, you might say, look, I need to plan for this in some other way possibly, you might try to get some long-term care insurance or something like that. Or if you're in the situation that you're qualifying for or you want to see if you can get the qualification for the Medicaid, then you've gotta take into consideration these thresholds and you might have some strategies available to help you with that. So people often exhaust their life savings before the Medicaid kicks in, making it difficult to leave an inheritance or to provide the surviving dependence. So in other words, it's kind of a shame to just spend the money that you had in order to qualify for the Medicaid instead of being able to possibly pass it along to dependence or something like that. By shifting assets into an irrevocable trust, individuals may qualify for Medicaid while preserving a portion of their wealth for their loved ones. So again, if you don't qualify, you're saying, okay, Medicaid's my only option. I can't really purchase a long-term care or something like that. At some point in time, you might say, okay, how can I preserve some of the wealth that I have but still get my asset level and income level or whatever down to the point that's qualifying for the Medicaid. And then you talk to lawyers about this kind of thing and you possibly could set up a trust. The trust is like a separate entity, kind of like a corporation and that it can own things and whatnot. And if you set the trust up properly, then maybe you can have some of your assets there that wouldn't be countable when you're doing the Medicaid calculation to see if you would qualify for the program because your assets need to be below a certain threshold. So how does trust help protect a senior's assets? So the two basic kinds of trusts are the revocable and irrevocable as the name implies revocable trust can be revoked. So Medicaid considers assets, incest, trust to be still owned by the person who established it. So you can imagine kind of the back and forth that goes back here. So this is a similar kind of thing that we see if you see like estate taxes or death taxes, you might hear them called. If someone's gonna, if the government's gonna tax you when you die, then you might be saying, okay, well, what's the plan? What do I wanna do? I wanna give my money away before I die so the government doesn't pick my pocket once I'm dead on the floor. So you can give the money away. You might try to set up a trust and say it's not yours. Now, when you give the money and you got a similar situation here, right? You're saying, okay, I have to have less money. So what I'd like to do is give my money away to give it to someone else or put it in a trust. The problem with giving the money away is one, they might, it might still not count because they might then say, the government's gonna come back and say, well, let me go a look back period. Did you give that money away just to avoid giving me the money or to qualify for the Medicare or the Medicaid? Then that could be a problem. So you can see this back and forth between the policies and people trying to qualify. So then the other thing is, well, what if I give my money away then I have no control over it. I don't quite trust my siblings possibly even use my money to take care of me or something like that. Well, then you might try to put it into a trust. So you're saying the trust is kind of like a corporation. It's its own entity. It's separate from me. I don't own the money. The trust owns the money. But then of course you come into the problem of do you still have control over the money? Can you revoke the trust and get the money back? Well, if that's the case, then although the trust is a legal entity, it doesn't look like it actually owns the money because you still have control over it. So this control issue often is the case when you have these kind of strategies in place. But this is the road that we're going down. So, and if that amount exceeds the countable assets limit, they won't qualify for assistance. So on the other hand, an irrevocable trust. So the irrevocable trust is the one that they're gonna say, okay, maybe that you don't have control over the money. So maybe then we're gonna say it qualifies. So on the other hand, an irrevocable trust effectively lets a person transfer control of their money to a trustee allowing them to qualify for Medicaid. So note that there is a lag time due to the Medicaid's current five year look back period. So then, so they put in this look back period to try to determine if you made transfers of money to something or someone that would disqualify just to qualify for the program. And so, again, this game goes on, goes back and forth. Any money transfer into a trust five years before a person applies for the Medicaid may delay the eligibility for benefits. The length of delay known as the penalty period is determined by dividing the value of the transferred funds by the Medicaid's regional rate for nursing home care in a given region.  So for example, in an area with a regional rate of $10,000 a month, an individual who transfers 10 100,000 into a trust before entering a nursing home would be eligible for a total of 10 months of Medicaid assistance. So in this case, someone typically a family member would have to pay the nursing home out of pocket before Medicaid began covering the bills which effectively wipes out any advantage of putting the 100,000 into the trust. Alternatively, if that individual transfers the assets more than five years earlier, they could immediately qualify for aid. So tax advantage of a trust. Trusts also offer tax advantages. Assets in a trust benefit from a step up in basis which can mean substantial tax savings for the heirs. So step up in basis meaning like when you sell the assets, typically you have to take the sales price minus the adjusted cost or basis they call that. And so you would like to have a higher basis or cost because that gain is what you might have to pay taxes on. So if you can have a step up or an increase in the basis that's typically good because then when you sell the property, you're gonna have less of a gain and possibly pay less taxes. So by contrast, assets that are simply given away during the owner's lifetime typically carry the original cost basis. So in other words, if you were to say, okay, I'm gonna try to qualify for Medicaid by just giving the money to say my son or my relatives or my daughters and whatnot. Well, then it's usually a gift and the gift usually carries with it the original person's basis, which if you're talking like stocks or something like that is usually lower which means when they sell it, they'll have a higher gain and possibly have to pay taxes on it. So if you were able to pass on your wealth to in the form of stocks and bonds and stuff to somebody else and have them step up the basis to the current prices, meaning the current fair market value, then when they sell it, they might not have to recognize that big gain. So that's part of the whole tax and estate planning considerations. So consider the following example. Let's assume that the shares of stock costing $5,000 when originally purchased are worth $10,000 when the beneficiary of a trust inherits them. In this case, the stock would be a basis of $10,000. So had the same beneficiary received them as a gift when the original owner was still alive, their basis would be $5,000. So later, if the shares were sold for $12,000, the person who inherited them from a trust would owe tax on $2,000 because they had that increased basis. While someone who was given the shares would owe a tax on the $7,000 because they would have had the original owner's basis of the $5,000. $5,000 was it and they sold it for $12,000. So that's the thing. So simply put, the tax consequences on assets received from a trust are greatly reduced. So the importance of choosing the right trustee, a properly drawn trust will not only preserve an individual's assets, but also give trustees the discretion to distribute money to beneficiaries who in turn can spend it for the older person's benefit. For this reasons, it's essential to appoint a reliable person as trustee. So in other words, you're trying to say, okay, I'm gonna put money into, I can give money to the actual person as long as it's possibly before the look back period. I'm trying to do it before the look back period so that when they look back, I don't get in trouble for it, but I'd rather put it into a trust because if I put it into the trust, then I don't really own it at that point in time but I might be able to pass it on at tax benefits and I then have to appoint the trustee who is tasked with the purposes of being able to do what the trust is designed to do with the money, which maybe they can set it up so that they could draw the money out to take care of whatever needs are gonna be taken care of. So that puts, no matter how you cut it, you're losing kind of control of the money generally. That's kind of the general idea and therefore you have to trust the person who you're given the money to, in this case, the trust, which would be the person who is gonna be the trustee and trying to do what needs to be done according to the trust terms. They're gonna be the job of the trustee. So what's the bottom line? People who need financial assistance from Medicaid don't necessarily have to exhaust their life savings in order to qualify for aid. A properly drawn irrevocable trust can protect at least a portion of their assets, both for their own benefit and that of their heirs. So if you're depending on the Medicaid, then you still would like to look at it kind of early so that you could possibly structure your financial affairs in such a way that it would be most beneficial. But again, if you have a substantial amount of revenue and assets and it's a fairly early on, you might look for other strategies as well as other types of insurance policies or for example, that might be more flexible than the Medicaid, but if you can't put those together then the Medicaid might be available. You'd still like to do it early and then talk to possibly an attorney to structure your affairs in such a way to optimize the benefits.


Very good morning to you Monday 13th of January. I hope everyone had a fantastic weekend The plan for the briefing this morning is given There's usually quite a lot to get through because I want to give my view for the entire week ahead Not just the session in front of us. So we're going to stick to a kind of macro fundamental Review for this session. What I'll do is I will issue the weekly strategy report out later this morning with all the technical Kind of levels both intraday and longer term So starting off before I go on to the calendar with the general mood in sentiment this morning And relatively quiet a few things do stick out though the pound under performing a little bit We're going to have a look at some dovish commentary coming out on the front page in the weekend in the financial times for an MPC member That is getting a bit of attention. We've just managed to break below some of the lower bound of price activity We had from the end of last week Meanwhile elsewhere Both gold and T-notes in slight negative territory. You had a metal down about six and a half bucks T-notes down about one and a half two ticks comes as index equity futures Just seeing some positive movement albeit fairly moderate at the open not too much to speak of really Over the weekend's press some of the headlines, which we're going to cover Of course are the highly anticipated Signing of phase one of the US China trade deal As I said, there's a bit of an update from the UK from an MPC comment that was made at the weekend And then also earning season has kind of crept up and that commences on Tuesday with some of the big banks Getting things underway. So we'll have a look at that as well over the weekend as far as Iran was concerned They did come forward Absolutely, no surprise. I don't think claiming that actually they thought it was a Missile and so that's why they shot down that Boeing jet But is that really moving the market will know what what I'm looking at here is WTI crude futures So markets have already kind of digested the latest State of play really and if we actually go back to where we were on that Friday actually I remember because we came back in the office on the Thursday the second and Friday the third and that was when that initial Situation did unfold that was that strike on the US Iraqi air bases And then we had the gap up higher after the Iraqi Parliament was saying that they wanted to expel US troops And then there was fears of retaliation and then we had that secondary little pop back on the 7th But ever since then I mean if you actually look When this whole Iraq Well, excuse me Iran and Iraq situation when he kicked off that was where it started We were trading around 61 flat and now we're down at 59 So we're actually lower now than where we were Prior to this all kicking off and does that mean you should really you know switch off about tensions In the Middle East or no, but I think it just goes to show and as we were kind of Suggesting through the briefings there the idea that When it comes down to it, there's a lot of face saving that needs to be conducted, but overall Real intention behind engagement was probably unlikely and that's after that flare-up of kind of a week of focus I do think and as I've been saying I think now we kind of revert back to the Traditional focus from the macro point of view, which is that of the US China trade talks, which are going to get underway really starting today because that's when the Chinese delegation is going to be arriving in Washington later on this afternoon Otherwise elsewhere. I can see this euro chart still marked up from when the guys were covering Non-farm payrolls live on Friday Just so you're aware if you're watching this and you're not subscribed to the channel Just remember to do so because every morning I'll be issuing this kind of macro fundamental update But also we'll be covering various live events as well like the FMC in a few weeks time at the end of the month So do feel free to join us for that But just looking at this euro and as per the levels that the chaps have marked up I mean, I'm just gonna move this up a little bit so you can see it over my camera feed But some decent levels still really are relevant here. You can see We had that brief momentary test on what was that low point on the third You can see here on these prior occasions that level does carry a lot of significance That being in the futures in the euro at 111 73 and we kind of got up to around that point in the overnight Asia Pacific session But I've failed to to breach it as yet definitely was in close proximity of it at the moment So still warrants some watching but usually to see how that plays out there This is looking at really the last I guess one and a half months of price action or so But let's get stuck into the news and let's go over the headlines What have we got on the calendar for This week well as I've just mentioned the Chinese delegation arriving Washington day two Is tomorrow and then the tentative signing is due to take place on Wednesday, which is the 15th What is the current? Vibe if you like in the general press this morning Well, Trump trade deal raises issue of trusting China to deliver So already the way that the press are looking at this and the various talking heads is that look phase one likely will be concluded in terms of the Signing this week the Chinese vice-premier Liu he will lead a delegation to sign off According to the Ministry of Commerce at the weekend in China However, it's not so much about the signing of the deal. It's about the implementation of the deal and this is where China and the US have often been critical of them is their ability to actually adhere to the agreement the terms of agreement and so What I think could well happen here if we look at it outside of an intraday perspective I guess from an intraday perspective the risk is the first half of this week a Low I think probability but quite quite high impactful event could be if the whole thing just comes crumbling down last minute That's not I would say out of the realms of possibility Or be it not the base case scenario that we and markets have at this point That's like to remain vigilant for as they said over the the fact that they arrive as of today but otherwise although our Year-end call as a firm is that the S&P much in line with lights of Wall Street will finish the year higher than where it ended 2019 the idea here is that it's going to see some bumps in the road and I think Inevitably what might happen here is that you know we see a degree of potential success in midweek. However It's going to be interested to see whether or not over the coming months not so much I would say the progression of phase two Rather heard the compliance of phase one particularly from the Chinese side that could then create The exercising of the option that apparently is still in writing that the US have had that they can still Re-initiate tariffs And put on new ones for example, so it's kind of this we this is not a new concept This is always being the art of the deal if you like which has been they want to keep the weapon on the table to keep The Chinese honest the question mark will be that any sign of a lack of compliance from from the Chinese side Could we'll see a material pullback on the threat then of the US ramping things back up again, and we almost start reversing the positive Positioning that the markets have reflected up at all-time highs at where we are at the moment So yeah, that that goes a little bit beyond this week As I said, there are some risks to this week alone, but yeah, definitely interesting going forward This was an interesting graphic that I thought I'd show you because if you remember back in the summer of last year The market was in hyper kinds of kind of sensitivity to the positioning of the Chinese you and you remember We were breaching at the time the psychological symbolic level of seven Per US dollar and that at the time was had always been a level of which China had Defended in fear of potential kind of mass capital outflow of in the country the kind of Snowball effect that could have happened, but they managed to see a what I would classify as a Disorderly weakening of their currency. However, look where we are at the moment We've pretty much eradicated that entire kind of sequence of activity This coming of course as the Chinese economy has shown some signs of recovery Some of the PMI data has just been coming ever so slightly off its lower levels So a bit of stabilization there global demand Appearing to somewhat stabilize because we also got over this hurdle almost although don't want to Count it too soon about that inversion of the yield curve that we also had over this period of late summer That appears to have just dissipated as well in terms of an ongoing view of the market and trade tensions Of course have eased With the passage of potentially this phase one being concluded. So here we are back at six point nine The strongest level for the onshore Yuan in five months. So taking us back to July of 2019 as far as Trump is concerned This is the agenda for today So actually there's not any Top-level engagement with China from Trump He's got a spot of lunch with the vice president intelligence briefing Which is kind of usual course for his day And then he's actually attending doing a bit of PR later a national football championship game Before he comes back to the White House So if anything any leaks or rumours that do materialize on the trade if there is any last-minute hurdle It's like to come from journalists rather from the man himself Trump you probably saw tweeting in Farsi at the weekend That was a bit of a surprise when I did see it on my my Twitter feed He was condemning the government's kind of action with the people's right to protest has been quite a large degree of protesting In Iran in regards to the government's handling of what's happened with that jet that got shot down and the response That they've made with the West and so on and so forth So so just Trump marketing machine remains in in full speed at the moment Moving elsewhere go jumping back to the calendar One of the main things I wanted to talk about was UK For two reasons Firstly if you look at the economic calendar today, you've got UK GDP industrial manufacturing production If we then fast forward to Wednesday You've got UK inflation data CPI PPI and RPI Actually, I need to check I mean I did have here one of some calendars had the autumn budget, but that has of course been bumped until we get some clarification with the Situation pertaining to the January 31st deadline of conclusion of article 50, but then going to Elsewhere in the week Friday, then you've got UK retail sales If you look at the week as a whole growth data Industrial manufacturing data inflation data and retail sales data particularly busy week for The UK economy now overlaying that with this. This is a chap. You might not recognize him Girton Flager is a member of the Monetary Policy Committee of the Bank of England. He is If you're in America, he's a voting member so to speak there's nine of them in total But this was a front page kind of splash in the financial times at the weekend And it was titled the Bank of England NPC member is ready to cut Interest rates now what he actually said here was that he said he would vote for a cut in interest rates later this month if Key data do not show a bounce in the economy following the December general election Personally, I think it's been a close call. Therefore. It doesn't make much data to swing it one way or the other And the next few NPC meetings are absolutely live Now this is quite interesting because if we just quickly jump to the hawk dove Kind of composition at the Bank of England you can see here Haskell and Saunders They're the two that have been dissenters remember the last couple of meetings have been a 7-2 vote split for the Bank of England They are the two outline doves If they go on this table sits pretty much mid-range However, the interesting thing here, of course is that over the course of the last week and a half We've had governor Mark Carney obviously outgoing in a few weeks, but we've also had Ten reiro who both have struck a similar sounding Kind of lines or interpretation of the situation about the impact of still Uncertainties on on brexit if you remember looking at you know measurements like the suite of the PMI data in the UK Things are materially worsening and so if you like the needle from a hawks dove's perspective is growing ever so Slightly more dovish in a sense that potential rate action might need to occur And so this is what's weighing on the pound a little bit this morning As you can see in the let me just get that top chart I've just managed to break through the lowest point that was seen what this would have been Friday's price activity or Thursday's actual low was here and so just managing to get below that at the moment and training a 130 20 mark For the time being and we just put this back onto a weekly little bit messy on this chart So actually let me just come back to here Put on a 90 minute. So having broken below those levels of the Thursday low the next kind of areas Potentially could be quite interesting got the 130 handle that also is that low print you can see there on the 27th And then the prevailing low for the price activity when we bottomed out at the end of last year that came down at 12940 Would be the bigger prevailing move whether we'd get there this week or not yet to be seen But as per this comment from the MPC member Flage at the weekend and it coming in Combination with what Carney and ten Ray Rose said we already know the stance of Haskell and Saunders, I mean if you take all five of those people I mean five four that's enough to tip the balance with a nine-person MPC that the Bank of England have got a cut rates So the point being is the economic data coming out the UK this week given that Commentary does become with renewed importance. So other than everything being so Brexit dominated Of course of the last few months Specifically this week I feel that economic data might get a little bit more attention with the potential for a little bit of ignition For downside price momentum should those data points come out on the weak side of things Other than that from a from a Brexit perspective, it's not really too much to look out for Just so you're aware Boris Johnson is in Northern Ireland today This comes after Northern Ireland's main parties on Saturday formed a power government or power sharing government They reopened storming for the first time in about three years so He's back there obviously trying to Patch up what's going to be partly some of the most contentious issues of this Future trade relationship, of course with Europe in that era of Northern Ireland But as I said, I'd say the economics is really going to be quite important for this week if you're trading the pound Now elsewhere from a US data perspective a couple things. I think you should be aware of Looking at it from a very top level. You've got Empire State manufacturing coming on Wednesday Then you also have the US CPI and retail sales report as well coming out Retail sales on Thursday is going to be particularly important The CPI and the US is on Tuesday session and then the final kind of thing I wanted to mention was Earnings you can see here. I've got JP Morgan City Wells Fargo So the traditional commencement of earning season starting off with those kind of top tier banks Now you're going to get Goldman's Bank of America also Alcoa reporting on Wednesday MS on Thursday Shumbage is reporting on Friday. This is what people are talking about and It's the idea that corporate profits likely dropped for a second straight quarter at the end of 2019 dragging down annual earnings growth to the smallest in three years But this is it investors seem fine with that the idea being then with The the kind of stabilization of global growth and putting us back to where we are at the moment Eliminating perhaps some of those runaway negative thoughts people were having about the global economy only a few months ago the market seems able to really digest this and With the main chorus on Wall Street being that the stock market is going to return positive gains for the year I would see that in combination with still Relative accommodative monetary policy coming by way of all of the major powers and then I don't think people are going to fret Too much about any weakness that's being seen here by the numbers. This is the general Landscape for the earnings as I said the major banks will be pre-market as they always are JP City and Wells Fargo we kick things off on Tuesday morning if you're stateside And that's pretty much it. There's any real need for me to touch or talk much beyond that and So I'm gonna wish you a good week. Feel free to leave any comments on the video I'll do my best to respond throughout the day As I said any technical levels though Obviously you guys more than well equipped. I'll leave you to that, but I will add a few Kind of long longer play levels that I'm looking at for the week as a whole in the strategy report Which I'll send out later. Okay guys, that's it Have a good session and a good week ahead. Thanks very much


It took me a long time to realize this, but my emotions aren't always that clear for people to see.  It's been like that ever since I was a kid. This has its advantages, but it's also pretty tough to deal with at times. Of course, the people who really have it tough are the people around me. Why? Because they have no idea what I'm feeling at any given time. This situation was always worse when I was pissed off. I couldn't understand for the life of me why no one could see how frustrated I was. They would come up to me and talk to me when I quite obviously did not want to be talked to.  Were they just trying to mess with me? Did they enjoy making me more and more furious until I went completely nuts? It took me a while to realize the truth. They had no idea I was mad in the first place. They just didn't see the signs. To me, these signs would have been super obvious for anyone to see, but I guess for most people they go unnoticed. Anyway, one sign that people would always miss was the fact that I was responding with one word. When someone would ask me how I was doing, I would say, fine. Obviously I was not fine, but for some reason they didn't understand that and they couldn't see that I was giving them a one word answer so that they would go away. I quickly learned that the best way to deal with someone who would piss me off was to pretend that everything was okay. My logic was that if they thought I was happy they would leave me alone and I wouldn't have to explain to them why I was pissed. That was just a conversation I did not want to have. The more I had to talk, the more pissed I would get.  Of course that didn't always work. You can only pretend everything is okay for a while.  I learned that the hard way. And then of course they would get all confused as to why I just blew up over the smallest thing. They really should have understood I was pissed off at them when I refused to help at the weirdest times. Oh, what's that? You have all the answers to tomorrow's math test? No, I don't need them. Do you want to perform CPR on me to stop me from dying? Nope. Don't. Touch me. I pretty much wanted nothing to do with the people that had pissed me off even if they had something I really needed. I wanted no interaction with them whatsoever no matter what.  I pretty much answered every question with whatever. On the outside it looked like I was just tired or bored but on the inside there was a furious rage building up inside of me. I don't know why I expected them to see through this wall of apathy but I did. If the people that pissed me off became truly unbearable I would just bury myself in a book. I would suddenly become very interested in whatever I was reading just so I didn't have to talk to them. It worked but they still had no idea I was pissed off at them. They probably knew something was wrong when I was being more social with their cat than I was with them. I would give all my attention to their pet and completely ignore them. I still get pissed off at people but I've learned to express my emotions. Well, most of the time anyway. And most of the time I've learned that the best thing to do when you're pissed off is to get some alone time.  Most of the time, that is. This video was based on an article that is posted on our main site. If you want to learn more about this subject, check the description below. And as always, don't forget to like and subscribe.


Mae'n gofyn i chi'n gweithio, ond nid oedd yna yn bobl yn gyfrifio ar hyn ac mae'n cael cyfnodd yn gweithio'r gwrthau. Ond nid oedd wedi'u cael ei gweithio ei fod yn ei wneud o'r ffordd. Yn y cyffredin hynny, mae'n ymwneud yn gweithio ar y dyfodol yma, yw ymddir i'r ymddir y mae'n cael ei gweithio. Mae fath yw, gan gwybod i'w Llywodraethau ac näpe yn fany, ond rydyn ni'n eich sgondol yn ymgyrchu'n cael y gwirion. Fe ydywch yn y gallu gwirion. Fawr deallaf yn y gwirion. Roedd y ddigon o'r fath yw? Dîm hofiant, oedd yw oedd yn siŷn os yn digon o'n gwirion. Roedd yw wedi'urok? Roedd yw'r wneud? Roedd yw'rwnau? Roedd. Roeddwn i'r rôl nhw o'r amser. Mae'n eu rôl. Mae'r ddau'r ddau arall yn ddau'r ddau. Mae'r ddau sy'n meddwl i'r ddau sydd wedi'i'r ddau yn y fwyaf am yr ydydd. Yn amser oedd y gwybod yn y ffordd sy'n amlwg i'r ddau'r ddau'r ddau, ac roedd mae'r ddau'r ddau'r ddau, sy'n ddau'r ddau'r ddau'r ddau sy'n ddau'r ddau,厀wch o gydafod ar ôl y gwaith yma, odyn nhw i'r cymdeithasg ond dweud o'r peth o'r gaelio fathau fel y rhaid i'r gweld ymlaen. Wel y gwael cyfrannu, bydd y gwirionedd inghynsgol, yr inghynsgol, rhaid i'r inghynsgol, mae'n defnyddio fod bydd yma gyda gweld.  A dyma'r oedden nhw'n cyhoedd, os yw'n oedden nhw'n arweithio, oedden nhw'n arweithio'r ymwneud? I mean, y trobl waz, I mean, whatever is five years ago, Piketty just comes along and I think he's, everyone gets brainwashed into thinking that inequality is increasing and certainly there's a lot of, sort of, just evidence that you come into contact with on a day-to-day basis that suggests that might be the same as the true. I'm going to just talk about, I've been involved in two ar y cyfnod o'r ddysgu'r ddau i'r ddarparu. Dyma, i fy nghyrch i'r ddal, oedd ydym ni'n gweithio'r wyf ar y credit swyth i ddau'r cyfnod o'r ddau cyfnod ar y cyfnod ar y cyfnod. Mae'n oed yn 1.5 miliwn o'r oesrif o'r ddau'r cyfnod. Rwy'n meddwl i fynd i gyd yn ei ddweud, a byddwch ar gyfer yr ymgylch, a'r byddwch yn meddwl i'r ddweud. So we're looking at a standard idea about net worth, real property, plus financial assets, less debts, and less debts. We use official exchange rates, that's another important thing when you're talking about these things. We construct a distribution for adults, and again that's quite important to note. We also do a top tail adjustment in which we try and match the data to the Forbes billionaire list for the last 20 years that we match our numbers against and adjust the top tail for doing that. On the income side I've been involved and I'm currently working with the wider data set, in which we're trying to improve it in all sorts of different ways to clean record the data and fill in missing gaps, standardize it up, get some standardize values and also, construct a synthetic database again, to try to do all the sort of things that we do with um, on the wealth side. So the moment I'm just going to report on some numbers o'r bwysig yw'r adeiladau yng Nghymru. Yn oedd hyn o'r angen o wahanol, rydym yn ei wneud i'r adeiladau o gydag ar gyfer adeiladau. Erbyn y bydd ymlaen, mae'n argymell i'r adeiladau ar gael, wrth gwrs, mae'n rhai o'r hyn o'r planydd. Rydyn ni wedi cael ei arddangos ei ddau, ond rydyn ni'n rhaid i'r adeiladau o'r adeiladau ar gyfer y parys. So, that's what we have, and let me just... It sees a few summary things. Just to... Net worth is something like five times income per capita. This is net worth per adult, so I guess there's roughly two adults and what is about twice as many people when you do a per capita adjustment. So, we're talking about, on average, wealth is about two and a half times, I suppose, income. The median value you see there, the median value for wealth is... For income it's about one-fifth. For wealth it is almost close to one-tenth, one-eighth or something. The gene is much higher. This is the global values. Top percent percent, 20 percent higher, and the top one percent is close to 50 percent in the wealth area, whereas it's just around 20 percent in the income side. So, there's a lot more... Wealth is much more unequal. I hope... So, these are just plots now of the income side and long series back to 1960. As you see, most of the inequality values trended upwards till around at least late in last century and then sometime in the last 10 years or something they flattened out and started to decrease. So, I think pretty well everyone that does this comes to the same conclusion. But again, there's a lot of methodological differences because I'm not quite sure... We try and reconstruct a distribution for the whole world. We don't leave out any country. If we haven't got much data on, we just try and estimate it anyway and provide a sample for that. So, our sample is not some countries in the early years more later on and so on. It's not more complete. There's no change of the country structure which is going to affect the long-term trends. And again, we construct a sample which is again... So, we do this for every single country and wait for things accordingly. So, the top 10% you've got a little bit more of an obvious fall around the turn of the century and the top 1% it looks like it's not really falling. So, there is that ambiguity about whether inequality is going down lately but for most of the more standard measures that don't focus on very, very top parts, it looks like there has been some reduction. Another thing which I think is quite interesting is to look at the mean and the median and we're able to do this because we effectively have a sample for the whole world so we can quite easily compute the median global income. And I've done that now. This is just a normal index on 2007 I've taken. So, we just see mean income increased. Sorry, the mean increase has risen over the whole period at a fairly constant rate. The median income for income has really speeded up since the turn of the century and that's again so that the median has increased as a proportion of the mean and that is indicating a reduction in inequality. In some respects I think it gives a rather clearer pattern than any of the other measures so I'm going to report that for wealth and income. I'd rather bring out the comparison. I'm going to quickly go through these just to say if you look at the different regions and just see what is happening to the genie coefficients it's not as if the global picture looks like there's a compositional problem that there's a change in the regions but somehow the regional balance is changing and that's causing the overall global effect. So these on the whole the sort of the world value and the regional value seem to be more or less in parallel. Let me, given we are moving time and you might want to learn about wealth inequality here it is for the world and again you see the much much higher figures we are here and you look at that and you have to say it looks like in the top graph we're talking about the blue figures are that's for the genie. The top 10% is the grey figure they're really not much different they're very high in the up in the high 80s 90s and there's looking at that eyeballing it doesn't suggest there's much changing over time. The top 1% is as the other difference here I should say is we only got the data for wealth from 2000 so we're on a more compressed time scale here but the figures for the top 1% have trended downwards since the turn of the century to the global financial crisis since then they've gone up but it hasn't really affected the top 10% or the genie coefficient very much. One of the theories about why this is happening and why wealth inequality might be differing is to do with the composition rich wealth holders tend to have a different wealth composition, their portfolio is more heavily weighted towards financial assets particularly they tend to own stocks in companies often their own company these things are traded on international markets the last 10 years has been very favourable to those sort of assets people have done very well and that may be one of the reasons why the share has gone up. So on the bottom there we're looking at the you can see then again the mean and the median indexed on 2007 for wealth it's really quite stark there isn't it? The mean or mean wealth went up to 2007 then just had a little bit of a dip and then continued to rise the median actually did rather better in the years up to 2007 the wealth inequality declined a little bit the median person did better than the mean mean wealth but since then it's been pretty flat and nothing's the median wealth has been virtually constant so whereas the mean wealth has gone up for the reason I've just said so you can think of this the sort of gains that we've had since the financial crisis pretty well all the gains have gone to the groups above the median so the median is just stagnating there the other difference, a notable difference if you get into this comparison between income and wealth is that there's a lot of wealth holders with negative holdings you don't really get this so the whole question about wealth inequality can go up because the people at the top draw away or the people of the bottom fall behind and one of the evident trends particularly this century is being the fact that at the bottom more people are reporting negative wealth a lot of this is people taking out more debts in particular student debt which before 2000 was quite rare a small number of countries now there's lots of countries where people students take out quite large amounts of debt and that seems to be recorded in the figures so that's another reason why sometimes you have to think about what inequality measure you're using and whether or not having negative values and the fact that there's more negative wealth holders whether that is a sort of something that you can deal with so here is I'm trying to combine so we can look and see what's happened to income and wealth together so the sort of red and brown are the wealth values the blues are the income values so quick for the world it looks like wealth has been flat or slightly increasing for income side inequality seems to be trending downwards this is just of course since the year 2000 and that's why I quite like looking at this mean to median ratio I've used the mean to median because that if that goes up it's reflecting increased inequality so you get some it's a rather clean clear picture here in which the income looks like it's trending inequalities trending down the wealth is going down and then trending upwards again after the crisis period I've done now for a lot of different countries just to see what's been happening and for most of these actually because you could say what's happening globally wealth is going up because we're shifting towards the weight is shifting towards countries which have more inequality so there's a compositional effect that in fact inequality is going down in each country but it's offset by the changing composition the same would be true of income global inequality is going up but inequality in each country is being constant or going down so that we're switching China, India getting more weight and that's changing the global pattern there is some sort of truth to that in the sense that when we look at individual countries the blue lines on the following pages are the ones where income and in most countries there's not evidence of much of a decline in income inequality within countries so people that think that inequality has not been falling lately they could easily just say I'm talking about my own country most of them can't time to be correct but the states there's a big jump in wealth inequality though around 2007 here we have the Chinese again income inequality I'm just doing the analysis from the bottom picture here income inequality fairly flat wealth inequality definitely trending up in China quite considerably India, Ditto and Brazil now you're a slight fall apparently in income inequality but wealth inequality again not really showing any falling pattern and higher at the end than it was in the beginning South Africa fairly flat I can go through all these sort of countries Russia is always a bit of a problem it's quite erratic it depends rather heavily on the top tail adjustments but again in all of these countries there isn't really the notion that income inequality isn't really doing very much global income inequality is probably going down for at least a good part of the global composition effect and this is again for Africa as a whole I'm probably running out of time so I just thought it might be I noticed that Martin did a sort of decomposition into within and between inequality I'm not sure I'd have to look at that but my feeling is that that's not the right way to do it and I was trying to construct some numbers and produce them but I didn't get that finished in time but essentially it would perhaps answer this question about to what extent the composition effects are responsible for what's happening to the global trend I will certainly be doing that in the future so here's just I just thought because we're in Finland and may have some Finnish members of the audience who are desperate to know what's happening to Finland here's our figures for Finland again income inequality it doesn't seem to have done much in the last 20 years wealth inequality not really increasing up to the year 2000 to the crisis but has been increasing since then although I should make a caveat here that Finland we do do some we do an adjustment using the we're merging the Forbes billionaire data and we're smoothing the series out but it is still there's only a small number of billionaires in Finland so there is a small sample problem which does qualify the results and just finally yes okay I'm on zero and that's very convenient because I'm just finishing with Sweden again the same sort of thing it's getting a bit boring isn't it income inequality in all these countries really seems to be pretty flat but wealth inequality is fluctuating at a bit and certainly higher at the end of the period than perhaps it was at the beginning okay thank you very much


My name is Azfao Tulasa from Lando Lex. Lando Lex is Farmers Cooperative in the United States and implementing the Ethiopian Dairy Development Project. Of course the fund is from the USAID but Lando Lex is implementing the project and we are working with the small holders and the commercial dairy farmers and all activities along the dairy value chain input suppliers and others also and it's not related to giving them input freely it's just technical input and advices to attract people to the dairy and dairy related activities. And now we have about three areas, three milksheds, one is greater at this milksheds the other is Lake Tana milksheds working around the bar and Debra Marikos and the other is Tigray, McAllen, the Humara milksheds. These are the three major milksheds areas we are expecting these potential areas and working on this to benefit both the consumers and the producers also to get we want all to benefit from the milk value chain really.  And dairy it's feed problem and health these are the two but farmers are okay now they are almost aware of this crossbreed animal which we are really trying to promote and we are to solve this feed problem we are working on forage development introducing productive forage crops like Napi grass, alfalfa which are very cheap but the biomass is really good and they can harvest every month if they water this forage. The other thing is the input, no input supply like what we have been discussing this morning AI services one input for the farmers and there is a great problem and this service should be improved.


If you need Med int 21 coins for anything, make sure to go to BuyMuchCoins.com, it's cheap and reliable, and my code MMG is 20% off. Playoffs! Literally anxious. I don't get exet... Exept. See, it's hitting me, it's hitting me right now. I'm really not an anxious person. I don't get a lot of anxiety for too many things. Thank God, I'm really grateful for that, but I get legitimate anxiety for wheel of muck playoffs. I know that the seasons when I have like heartbreaking Super Bowl losses. Dude, I have like nine days. Like I would think about it for like four or five days. Why am I talking about this?  So let's do it. All right boys, without further ado, our first wheel spin. It doesn't really matter, let me be honest. My team is so, so, so, so, so good. Oh shoot, that's not in the story anymore, is it? This was for the most feared fantasy packs times two but that's not in the story anymore. So I'm just gonna go with either legends fantasy or the 50 fantasy. I'll do one of each. We'll start with the 50. I either have to get a center left guard left tackle in this or like one of the best pulls in the game. Pretty unlikely that this will help. Leroy Selman, I don't know who this dude is but that's an 88 overall pull. Our next one's a legends fantasy. We're gonna start out with theories slaying the lines. Jersey, that's depressing. Oh, I went too quick through one. Inwards Taylor. Yeah, that's tough. But here's our second wheel spin. Hopefully I can get something that'll help on my offensive line. That would be like the final push we need before we go in. Team of the Week among us.  I haven't played among us in like a month either. This was from back when everyone was playing among us. I'm gonna hop in a random lobby. I get 20K for every round that I make it through.  They're literally so bad. So I'm gonna be poopy ween going into a public. Oh, I want imposter so bad. I should just survive. If I'm crewmate, I'm gonna go hide in the corner. If I'm imposter, it was just like Fortnite. Gimme just, yes.  Let's go. All right, my boy's coming over here with me.  But I don't know where the hell he went. I'm gonna sit here until someone comes and then I'm gonna hop an event. Oh, that's lights. Okay. Love that he did lights. Got one easy kill there. Okay, body got reported. Body got reported. Just don't buy me. Anyone saw a splat set me.  I've never played a chat lobby before. Actually, this is such anarchy. Black left the game on this game. One round, baby. 20K. I should have put something in here about winning the game because I'm about to win the game. Multiple people just left. This game's over. I'm gonna get 40K. I didn't think this through.  I didn't think this through.  Let's try and get this. I should probably just take this. I'm gonna sell for 40. I think we might've just gotten cyan on. Did we get cyan off? I'm really hoping I need it here. Otherwise, I'm getting voted off for looking sus for doing that sell for board.  Did we get cyan off here? Did this not work? Got him. Wait, no, that's game over. That's game over, though, because there's only two left. So did I make it? I didn't think this through. Whatever. I got a job, though. I have 40K to spend on one player. Can I get a decent center? My center right now is not good. Oh, I can, dude. I can get a really solid center. I can get an 89 overall center. So for 40K, we can get Matt, skirt, oh, we can get Brandon Linder. Brandon Linder, 89 overall center. As much as that was kind of a scuffed spin, it worked out for exactly what I needed. Beautiful team. We have Budabaker, who we have not used yet. We got him at the end of last one. We got to use Clomac. We've now got Edgstrad on him. This team is awesome. I lose my first game in the playoffs. I'm gonna cry myself to sleep. What does he got? What does he got? This is reasonable. This is very reasonable. And we got Budabaker in the top three now, too. I like that. Oh, don't forget my challenge wheel, baby. All right, yeah, I mean, as you know, I might not prioritize this because it's a playoffs and I gotta win, but it's gonna be, oh, I thought it was gonna be like a kick. Random chooses my touchdown plan. So I think I'll have Alexa do it. When I get in the red zone, I'll have Alexa choose to play for me. If I can get the touchdown off of that, that's how that's gonna work. Hey, we might start out here with a decent kick return out to the 37 in the playoffs. That's what I like to see. Oh, A, and I got the pink jerseys. Aren't these sick? Oh, touchdown. Oh, baby. I'm a mom. I'm so homeless. I shouldn't have bullied him back. We should have lofted him. Not today, man, dude. Don't do this today. Also, depressing. It looks like nobody online was in their playoffs because there's not even the playoffs. Or should at least be a wildcard logo on this field. So I don't know if that's because NextGen came out or if just nobody's online right now, but whatever. Third and one. We got Boyce, oh, coming underneath. Probably not my time to blitz. Kalomak and Aaron Donald will work in the edges.  I missed, dude, I missed him. I missed him by like a smidgen. I was totally there.  I still feel really good. Yeah, starting out with an interception. Probably not the move, but it is what it is. Let's run this rock. Well, inside Zone Dalvin Cook, we're throwing a block on Ray Lewis. I love to see that. First and 10. There's Tyreek. Did he split it? It was, see, I thought that was like, oh, oh, oh, block it. Let's go.  I could have thrown another pick there, but that's the kind of bass we need right there. I don't know how I feel about this. Let's just go Julio and Tyreek underneath and we'll just throw each other one's open. Ooh, look at Tyreek. No, Josh, that's the first time Josh Allen's like, literally probably the first time he's ever thrown a bad ball. I'm gonna look Tyreek Hill on this out, out. Ooh, he got him.  It's a dead-off. Let's go play some defense, dude. He gets a ball out. Let's get to that quarterback. I'm gonna send Lawrence Taylor as well and I'll just take the little ones underneath. Let's go. That's what I'm talking about. That's how we get to the quarterback. Aaron Donald, not exactly sure what he's looking for. Some underneath routes. A dig right in my, right in my face. You actually just threw that directly at my player. And it was not an interception. That's okay, because he's punting here. We need a one possession lead going into half. This is maybe a Tyreek throw. No, why did you lead it outside? Josh Allen can't throw today. That was not supposed to be led outside. That was supposed to be led inside.  What is going on? That was so wide open through it towards the safety. Well, at least we're playing good defense. I would expect him to run the ball, honestly. Okay, I will take one. Devon White can house this. Let's go. That's what we need. Oh my God, that's what we need. I'm going fake P.A.T. over the last.  I'm going fake P.A.T. over the last. Yes, sir. No, why did they take it outside?   I'm so over myself. I need to stop playing this game. And I don't even have my playoff markers. The most depressing thing out of all. Run play, run play, run play. No. Underneath? Ah, I'm going to step off that. I'm going to step off that. Let's go. Irritado will get back there. I'm calling it a timeout. I want time to go score after this field goal. One more clan. Yeah, I knew that was going to be open. No, get to him quicker. Fourth and two. You got to go for this. Yeah, you got to go. Let's see if we can stop this. Fourth and two. He's looking for something small. What?  Go watch the tape. Go watch the tape. How is that possible? 14 to nine, that's okay because the touchdown puts me in a good position here but I don't understand what just happened. I literally saw Irritado let him and got hype because I knew he sacked him but I guess he didn't. I guess it was all just a sham. This is going to be a tough one, dude. I'm not trying to go out to playoffs like this, man. Second and six, we got another run play. I don't know what happened there but I missed with Colomac because I'm bad at this game. Another third and six. We got to get into the ball back here. How is that getting open every time?  And I expect a run play. Yep. I just got to hope he makes a mistake, man. I can't keep up with this. All right, so play action. He's going to go right that far. What are you doing? Can I kneel it? Yeah, I'm just staying in here, buddy. This is how you get a winning game right here, baby. He is in the pre-vet. He must have gone to recent plays and kept still. Click something. All right, Dalvin Cook has got a lot of room. All right, I'm going to shoot clock.  This Tampa two is just getting eaten up by this and I'm going to run it again. I should be able to grab an inch, right? Even more. I'll take even more. I'm going to go for it. I'm going to go for the end zone here. I'm going to bang out. Julio, Julio. Nice in the veins, baby. He might have wanted that for his own two-clock shenanigans there, but I didn't want to risk myself actually not getting the touchdown. What I run here? Tyreek Hill Outro, Julio Outro. I'm looking for Tyreek though. Speed.  I have gotten a rob of points twice in this game on the exact same thing. Whatever. Just got to walk out of here with a dub and then it just doesn't matter. He does elect to run it. I thought that was going to be a play-action. I think he's going to do the same thing and try and get a field goal, but luckily I have three time outs. Honestly, what I should do is let him score. Is that a joke? Is that a joke?  I'm going to let me win this. Try to use that double knee. You win. Squeaked it out, baby. Yeah, sorry. I didn't complete my challenge.  It pulled me out all to the team. My God.  That was a true rage quit, dude. Throw the interception, turn the Xbox off. Let's spin this rage quit. We almost spin it just like this and you guys should be able to see it like that. Let's go. Dude, I'm so hyped right now. Alexa, ooh. Series Redux and Alexa is going to pick. So, all I'm going to do is click Series Redux. She can choose out of these 10 players. So all I have her do is I have her pick a number one through 10 and like Mark Andrews is one, Denzel's two and then this is prime times five and then six is Ricky Jackson. Pick a number one through 10. Here's a number between one and 10. It's eight. Eight? Who is eight? One, two, three. Perfect. Sorry, I don't know that.  I'm excited to use this 93 overall, Steve Smith. Let's make him the new slot receiver because right now it's that 87 Tyler Lockett. I would way rather have 93 Steve Smith. Yep, slot wide receiver, Steve Smith. I like that. That's a big rage quit wheel right there. First game of the playoffs is a lock. Hopefully the next one is wildcard divisional NFC slash AFC than Super Bowl. So hopefully next one I get to playoff art on my field. I don't know why that's so important to me but like, I don't know, it just makes you feel like you're in the big game. I love you boys. Thank you for watching us always. I will see you Friday for the divisional. The next, well I gotta win first so let's not get ahead of ourselves. I'll see you guys. I'll see you next video. Peace.


With the renewal of the Science and Technology Museum, this means new artifacts on the floor. As you can imagine, some of the objects in the Science and Technology collection are quite large. For instance, the Tochimek reactor. This will be one of the feature pieces in transforming resources of the museum. It weighs over 7,000 pounds. It needs to be moved into the museum space by professional movers because it's a heavy piece. This will be brought into the museum prior to any of the galleries being ready, just because of the sheer size. You can approach each piece according to the size of the object, the weight, and obviously the bulkiness of it.


A lawmaker will be detained over suspected tax fraud and money laundering in Tunisia, the other for the detention of Maddie Ben-Garbia, a businessman and former minister was given by a court. He is the fourth parliamentarian to be taken into custody since President Caiusade seized near total control of the country in July. Saeed's pledge to clamp down on corruption has been welcomed by many Tunisians, but his suspension of parliament has been criticized by many. He has given no indication on when he will relinquish the new powers he gave to himself.