The gross national debt will reach 100% of the economy in November 2011.
A reprieve won this week for the Obama administrationfrom some particularly scary economic news that had been projected to occur around Halloween.
Continue reading… “Escalating national debt nears size of entire U.S. economy”
Charging people to deposit? Really?
It seems an odd problem to have, this “too much cash” thing. I don’t know that most of us can relate. But it seems that in times of economic insecurity, those who used to invest in stocks are simply holding their money in banks, and now bankers are inundated with money. So what’s the solution? Charge people to deposit. Or, at least some of the people, at some banks anyway…
Continue reading… “Banks with too much cash charge for deposits”
How rich are the superrich?
A huge share of the nation’s economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.
Continue reading… “11 charts that explain the financial inequality in America”
Focusing on money and possessions can take a toll on couples’ happiness and stability.
Married couples who are materialistic may have more money, but they also have more relationship problems, according to a new study.
Continue reading… “Materialistic couples have more relationship problems: study”
More money is spent on health insurance but less money is spent on care.
U.S. Bureau of Labor Statistics numbers show more money is being spent on health insurance but less on care. Americans are spending more money on insurance premiums, and they’re spending less out of pocket on health services. The trend doesn’t reflect patients getting more health coverage for their insurance money, experts say. It reflects patients, even those with insurance, avoiding spending cash on health care they think can be put off.
Continue reading… “As health premiums rise even the insured are spending less on care”
The student loan default rate for fiscal 2009 surged to 8.8%, up from 7% in 2008.
Two years ago critics warned that government-backed student loan defaults would rise. The question was how soon would taxpayers feel the pain. This month, the U.S. Department of Education provided part of the answer when it reported that the default rate for fiscal 2009 surged to 8.8%, up from 7% in 2008.
Continue reading… “Student loan defaults continue to grow and the worst is yet to come”
Seton Hall University is offering discounts up to 66% on tuition.
Discounted programs and other ways to save are being offered by a growing number of private colleges and universities. Students and families have been turned off by the potential six-figure tuition bills from private colleges. So some are cutting their prices.
Continue reading… “Private colleges cutting tuition costs”
Bank of America will begin charging customers a $5 monthly fee in 2012 to use their debit cards for purchases.
There is widespread hostility toward new fees charged by some of the nation’s largest banks and Community banks and credit unions are moving quickly to take advantage of that.
Continue reading… “Small banks, credit unions capitalize on big banks’ fees”
Average salary at Twitter is $120, 111.11
As you might expect, former Google Engineer Gareth Jones is a number whiz. He created TechCompany Pay using “open sources of information on the internet”. TechCompany Pay is a list of averages representing how well the biggest companies in Silicon Valley compensate their employees.
Continue reading… “Top 7 highest paying Silicon Valley companies”
UBS trader Kweku Adoboli allegedly made unauthorized trades that cost the Swiss investment bank billions.
Financial traders are more uncooperative than psychopaths, and also that they have a greater tendency for lying and risk-taking, according to a new study from a Swiss University. The new research about financial traders and their personalities may shed some light on the behavior of Kweku Adoboli, the so-called “rogue” UBS trader who allegedly lost the bank $2.3 billion through unauthorized trading.
Continue reading… “Study: Financial traders are more reckless than psychopaths”
The free checking account will soon be gone.
According to a survey released by Bankrate.com only 45% of non-interest bank checking accounts are free, down from 65% in 2010 and 76% two years ago. Fees, meanwhile, are rising: The average monthly fee for a non-interest account is $4.37, up 75% from a year ago.
Continue reading… “Prepare to say goodbye to the free checking account”
Citigroup and Bank of America were the reigning champs of finance in 2006.
The reigning champions of finance in 2006 were Citigroup Inc. (C) and Bank of America Corp. (BAC). As home prices peaked, they were leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.
Continue reading… “The aristocracy on Wall Street got $1.2 trillion in secret loans”
By delving into the futuring techniques of Futurist Thomas Frey, you’ll embark on an enlightening journey.
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