Cancer patients are much more likely to go bankrupt than Americans who aren’t faced with a cancer diagnosis, a new study finds. Even the Americans who have access to health insurance aren’t necessarily safe from bankruptcy, since the high cost of treating cancer can still put an untenable strain their finances.
A team of researchers in Washington state collected data from nearly 400,000 adults, evenly split between those who had been treated [...]
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Europe is on the brink of a landmark ban on the world’s most widely used insecticides, which have increasingly been linked to serious declines in bee numbers. Despite intense secret lobbying by British ministers and chemical companies against the ban, revealed in documents obtained by the Observer, a vote in Brussels on Monday is expected to lead to the suspension of the nerve agents. Bees and other insects are vital for global food production as they [...] by 72Point Three quarters of workers feel they lack confidence, failing to measure up to peers in meetings or talking confidently to colleagues; · 34% can’t ask for a pay rise, 29% are too timid to ask for a promotion, while 29% admit they withdraw in interviews; · 40% admit they are too shy to speak out at all in meetings.
Millions of workers believe they have missed out on pay rises or promotions [...] 60% of US Bankruptcies Due To Medical Bills, While 78% Of Those Bankruptcies HAVE Insurance Coveragesilvervigilante.com 1.5 millions US citizens will declare bankruptcy, and a new study suggests that over 60 percent of those individuals will be brought under due to medical bills. Medical bill bankruptcies increased by nearly 50 percent in a six-year period, from 46 percent in 2001 on up to 62 percent in 2007. Most filers hailed from the middle class, and were “well-educated homeowners,” according to a report that will be published in the [...] The good old days for the wealthy are now back. A survey from Northern Trust found that three quarters of millionaires surveyed said they are better off, or as well off, as they were in 2007 — the peak for both wealth and sheer numbers of America’s millionaires. Most cited improved investment returns as their reason for feeling better off. Read more: http://www.cnbc.com/id/100464754#ixzz2L4ubZEHm Germany and Spain’s biggest banks report stunning losses Deutsche Bank Reported An Unexpected $3 Billion Loss FRANKFURT, Germany (AP) — Reducing the value of assets and lawsuit expenses pushed Deutsche Bank into a big and unexpected fourth quarter loss of €2.15 billion ($2.91 billion).
The net loss for the October-December period compared to a €186 million profit a year ago. Analysts surveyed by FactSet expected a bare profit of €62 million. Deutsche Bank is [...] By Mike “Mish” Shedlock The Chinese banking system is insolvent. Of course, the entire global banking system is insolvent, but today’s spotlight is on China. Please consider China averts local government defaults. Chinese banks have rolled over at least three-quarters of all loans to local governments that were due to mature by the end of 2012, an indication of the immense challenge facing China in working down its debt load. Local governments borrowed heavily from [...] CONSUMER CONFIDENCE COLLAPSE UPDATE: The Conference Board’s consumer confidence survey for the month of January is out. The headline number fell to 58.6, well below expectations of a drop to 64.0. Last month’s number was revised higher to 66.7 from 65.1, meaning the drop is even steeper than it appears at first blush. MASSIVE WITHDRAWN FROM 25 LARGEST US BANKS SD contributor AGXIIK warned readers months ago about the FDIC’s expanded deposit insurance which was set to expire [...] from Bloomberg: Apple Inc. Chief Executive Officer Tim Cook is feeling the heat. Eighteen months after taking over from Steve Jobs, Cook is facing rising production costs, competition from Samsung Electronics Co. and slowing growth in smartphones, threatening profits for the world’s most valuable company. An earnings report tomorrow may show that fiscal first- quarter net income slipped 2 percent to $12.8 billion, or $13.48 a share, according to analysts’ estimates compiled by Bloomberg. That would be the first drop since [...] Christian Science Monitor The teenager opened her neighbor’s unlocked car, grabbed the iPhone off the armrest and ran home, a few doors away in her downtown neighborhood here. Perchelle Richardson still isn’t sure why she took the phone. Just five days earlier, for her 18th birthday, her mother had given her a standard, no-frills cellphone. But she loved the way iPhones looked, and her little brothers had seen this one [...] 72point · 60% will only get dressed on certain days if they have a meeting or expect a visitor; · A massive 74% don’t always get dressed when working from home; · Almost half just grab comfy clothes, with a quarter just chilling in a dressing gown.
Three quarters of people who work from home admit they regularly sit at their laptop in tracksuit bottoms and PJs, a study has revealed. Instead of getting [...] from businessinsider: The above graph is from the latest Eurostat GDP release for the EU area. Let’s consider the following information to illustrate the depth of the EU problem. 1.) The EU 17 and 27 have both contracted YOY for the last two quarters. With the exception of the .1% Q/Q growth for the EU 27 last quarter, we’d be making the same observation for the overall EU 17 and EU 27 Q/Q [...] The average GDP growth for the first three quarters of this year is 1.77 percent, according to data released by the the Bureau of Economic Analysis this morning. That is less than half of what the White House predicted GDP growth would be this year, and less than a third of what the Obama administration projected when it first took office. Here’s a chart from the Republican-side of the Senate Budget [...] By CHRISTINA REXRODE NEW YORK (AP) — JPMorgan Chase, the country’s biggest bank, reported a record quarterly profit Friday, helped by a surge inmortgage refinancing. CEO Jamie Dimon said he believed thehousing market ”has turned a corner.” The bank made $5.3 billion from July through September, up 36 percent from the same period a year ago. It worked out to $1.40 per share, blowing away the $1.21 predicted by analysts polled by FactSet, a provider of [...] From The Burning Platform: RadioShack has burned through $150 million of cash in the last three quarters. They have $355 million of debt due in the next 12 months. They had $500 million of cash left at the end of the last quarter. Their CEO quit today, four days before the end of this quarter. He was on the job for one year. I’m sure that bodes well for the next earnings [...] Europe Goes Red, As S&P Whacks Growth Forecast S&P has just whacked its growth forecast for Europe. It now sees a contraction of 0.8% this year, and 0.0% growth next year. European markets have gone red. Italy’s benchmark FTSE MIB had been up slightly earlier in the day, but is now down 0.6%. S&P says new recession hitting euro zone Standard & Poor’s Rating Services on Tuesday pared down its economic forecast for the euro zone in [...] 72Point It takes the average Brit eight days and 22 hours to get back into a routine after a holiday, a study has revealed. Being forced to set the alarm clock, dealing with the mountain of e-mails at work and tackling the morning commute are all among the top ten reasons why it’s so hard to get back up to speed. Three quarters of those polled admitted to suffering from post-holiday blues, [...] And surprise surprise… it comes from ROMNEY!! http://www.motherjones.com/politics/2012/09/full-transcript-mitt-romney-secret-video Ben Bernanke and Mario Draghi must be absolutely terrified. These two men, in the last two weeks, have both initiated open-ended bond buying programs. The purpose of these programs, aside from keeping insolvent banks in business, was to scare the markets into believing that no matter what happens, the Central Banks will be able to step in and support the financial system. From a philosophical standpoint, this was Draghi’s and Bernanke’s “all [...] Wolf Richter www.testosteronepit.com What got lost in the escalating Japan-China scuffle was an unassuming national holiday in Japan on Monday that symbolizes in the most respectful manner the slow-motion economic tsunami rolling over the country: “Respect for the Aged Day.” The day is always preceded by a flurry of announcements related to aging. On Friday, the Ministry of Health, Labor, and Welfare released the latest data points of a trend that has persisted for 42 [...] HFT Algo Music Sings to the Stock Market
The Securities and Exchange Commission (SEC) fined the New York Stock Exchange (NYSE) for sending out data to certain private clients faster than the public data feeds. This yells “rigged robot market” louder than anything else and should scare investors seeking a venue for fair returns far, far away. Algorithms or not, stocks have lost three-quarters of their real value since mid-1998 (Dow used to cost 28 [...] Wolf Richter www.testosteronepit.com What got lost in the escalating Japan-China scuffle was an unassuming national holiday in Japan on Monday that symbolizes in the most respectful manner the slow-motion economic tsunami rolling over the country: “Respect for the Aged Day.” The day is always preceded by a flurry of announcements related to aging. On Friday, the Ministry of Health, Labor, and Welfare released the latest data points of a trend that has persisted for 42 [...] Jim Rogers: This Stock Market Rally Will ‘End Terribly’ Stocks have hit multi-year highs recently, but are due for sell-off, since the gains have not been based on fundamentals but rather loose Federal Reserve policies marked by liquidity injections into the economy that have artificially propped up markets, said noted international investor Jim Rogers. From NYT: 12:51 a.m. | Updated The Obama campaign announced early Monday that it had raised $114 million in August, saying it had brought in more than the Romney campaign for the first time since April. That number was released just after Mitt Romney and the Republican National Committee said that their campaign had raised more than $111.6 million in August, leaving the candidate and his party with about $168.5 million in cash [...] |
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