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Number of the Week: Half of U.S. Lives in Household Getting Benefits

Number of the Week: Half of U.S. Lives in Household Getting Benefits | Economics | Scoop.it
The share of Americans living with someone receiving government benefits continued to rise well into the economic recovery, reflecting a weak labor market that pushed more families onto food stamps, Medicaid or other programs.
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Japan's Last Chance | Foreign Affairs

Japan's Last Chance | Foreign Affairs | Economics | Scoop.it
Faced with economic stagnation in the late 1970s and early 1980s, most of the world’s rich countries made a fateful choice.
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Global Debt Bubble Will Push Gold and Silver Prices Higher

Global Debt Bubble Will Push Gold and Silver Prices Higher | Economics | Scoop.it

By: GE Christenson To paraphrase William Shakespeare, “the debt ceiling drama is a tale told by idiots, full of sound and political fury, signifying nothing."


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Hal's curator insight, October 24, 2013 8:02 PM

Click through for the rest.

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China's top 5 banks triple debt write-downs to avoid defaults - RT.com

China's top 5 banks triple debt write-downs to avoid defaults - RT.com | Economics | Scoop.it
Five of China's biggest banks have tripled the size of debt forgiveness to the country's enterprises in the first six months of the year.
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Shocking Truth: The Real Unemployment Rate Is Over 30%

Shocking Truth: The Real Unemployment Rate Is Over 30% | Economics | Scoop.it

photo: jronaldlee What would you say if I told you that the real unemployment rate in America is at least 30%? Would you call me a tin foil hat conspiracy theorist?


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Many Americans accumulating debt faster than they’re saving for retirement - The Washington Post

By Michael A. Fletcher, Published: October 23

A majority of Americans with 401(k)-type savings accounts are accumulating debt faster than they are setting aside money for retirement, further undermining the nation’s troubled system for old-age saving, a new report has found.

 

Three in five workers with defined contribution accounts are “debt savers,” according to the report released Thursday, meaning their increasing mortgages, credit card balances and installment loans are outpacing the amount of money they are able to save for retirement.

 

The imbalance is expanding even as policymakers are encouraging people to set aside more by offering generous tax breaks and automatically enrolling workers in retirement accounts that in some cases automatically escalate the amount of money over time.

 

Currently, workers with retirement savings accounts put aside more than 11 percent of their pay for retirement — 5 percent in their own accounts, and 6.2 percent in Social Security.

 

Despite that — and despite the $2.5 trillion the report says employers have poured into defined contribution accounts from 1992 to 2012 — the retirement readiness of most Americans has been slipping, according to the report by HelloWallet, a D.C. firm that offers technology-based financial advice to workers and conducts research of economic behavior. ...


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Hal's curator insight, October 25, 2013 4:07 PM

This is the yet another reason the bull run in gold is not finished.

Sasha Whitley's curator insight, October 25, 2013 5:33 PM

Great article to show the signs that Americans just have too much debt - and they are carrying they debt into retirement. How much debt do you carry? How will this affect you in retirement? Things to think about!

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Richard Branson Has Left the United Kingdom of Taxation

Richard Branson Has Left the United Kingdom of Taxation | Economics | Scoop.it
Richard Branson has moved to his private island in the Caribbean. This will have enormous beneficial tax consequences. Sweet move by Richard. He says it is a lifestyle change and not about taxes. Yes, Richard, we know it ...
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