Tuesday, August 25, 2015

Prostitutes: 3 million College going Women in US

Inequality of income, with predominantly low wage jobs for those who are lucky to have a job and
high rents and exorbitant college fees are forcing women to augment their income by finding a sugar daddy to pay the bill.

Enter SeekingArrangement.com   a website catering to men and women who exchange sex for compensation, like an allowance or paying bills like student loans and rent.  It has 4.5M registered users
  • 3.3M Sugar Babies
  • 1.2M Sponsors (aka Sugar Daddies & Mommies)
  • Average age of Sugar Baby: 21
  • Average age of Sugar Daddy/Mommy: 45
  • Average Income of Sugar Daddy/Mommy: $500K
  • Average compensation: $5K per month
The Economic Relevance of SA - It's where the 1% converges with the 99%.

Earning $500K or more and spending $60K per year on a mistress: this is the 1%.  Needing help with college loans and rent: this is the other 99%.

It's not an online dating website. 
If someone wants a relationship or a liaison, there are plenty of other sites like Craigslist and Ashley Madison.

Is it a prostitution website?  According to SA they are not, repeat not, engaged in prostitution.  Their disclaimer: "An arrangement is not an escort service.  SeekingArrangement in no way, shape or form supports escorts or prostitutes using our website for personal gain." 

Seeking Arrangement: A Form of Prostitution, for the 1%
.  As a prostitution website, it may not be as explicit as WhatsYourPrice or Backpage, but SA has at its core a business transaction: companionship with extras in return for cash and/or the equivalent.

Mainstreaming Prostitution: Beginning last year, the Bank of England included prostitution in GDP measurements.  According to the Office of National Statistics, prostitution generated $9B a year, adding 0.7% to the UK GDP.  They aren't alone: Sweden, Norway and a few other European countries already include it.  And if you can measure it, you can tax it.  And legalization is necessary for measurement.
Prostitution is legal in most of the developed world.  In fact, of the G20 countries, prostitution is illegal in just 5: China, South Korea, Saudi Arabia, South Africa, and, of course, the United States.

From http://www.zerohedge.com/news/2015-08-24/less-10-years-federal-reserve-has-driven-millions-american-women-prostitution

No comments:

Post a Comment