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Younger Americans can expect to die with credit-card debt if their current spending patterns continue, a new study finds. Co-authored by Ohio State University economics professor Lucia Dunn, the research suggests that younger generations may continue to add credit-card debt well into their 70s, and die still owing money on their cards. “If what we found continues to hold true, we may have more elderly people with substantial financial problems in the [...] Retirement no more: Median net worth at lowest level since 1969 recent study finds. There may be a temporary jubilee with the notion that the fiscal cliff has been deferred for a few months. The media is quick to accept anything for a victory but very little has been done to stop our marching path onward on this massive debt spiral. Many Americans continue to live in poverty with no visible exit. [...] Moody’s cuts long-term debt and deposit ratings for 28 Spanish banks between one and four notches. The move comes in the wake of this month’s downgrade of the country’s sovereign debt. The only banks rated above the sovereign: Banco Santander (SAN) and Santander Consumer Finance, for diversification and sufficient Tier 1 capital. via Zerohedge: The long anticipated downgrade of the recently bailed out Spanish banking sector has arrived. Moody’s just brought the [...] by Michelle Hirsch, The Fiscal Times Americans are slowly starting to feel better about their finances.
That’s evident from the latest retail sales figures released by the Census Bureau, which show that we’re spending more on cars, furniture, clothing, and electronics. There’s one key area where Americans haven’t been buying, though: the stock market. Despite record-low interest rates and a nearly four-month-long stock market rally, Americans remain reluctant to invest in stocks. About 76 percent of those polled for [...] Today, I was appointed by President Obama to serve as the first Director of the Consumer Financial Protection Bureau. I am honored by this opportunity to continue my work on behalf of consumers. And I am energized by the responsibilities and challenges facing the Bureau.
The importance of this day has less to do with me personally and much more to do with you – and the millions of individuals and [...] |
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