Student loan debt growing and so is the delinquency rate

According to the Federal Reserve Bank of New York’s Quarterly Report on Household Debt and Credit Total, consumer debt in the U.S. fell again in the third quarter. This figure has been falling for four years. As consumer debt has been falling, so have consumers’ delinquency rates. As of Sept. 30, 8.9 percent of outstanding household debt was in some stage of delinquency, with 6.6 percent at least 90 days late.

 

 

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Unhappiness leads to bad financial decisions: Study

“Present bias,” a phenomenon that makes us crave immediate gratification at the expense of even greater rewards later on.

People tend to spend more money when they are blue, whether it’s treating yourself to an elegant dinner after a tough day or picking up a new outfit during a nasty breakup.  Harvard University researchers looked in the the anecdotal evidence and found that feeling down can take a serious toll on your wallet.

 

 

 

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America’s fastest growing group in the workforce is changing what it means to be ‘retired’

Senior Worker in Supermarket

According to government estimates, the over-65 set is the fastest growing segment of the working population: More than 7 million are punching the clock.

Ailika Thomas’ husband brought her coffee in bed after she woke. It was 7 p.m., and the 73-year-old was facing a long, moonlit drive from her rural Indiana home to Chicago; Dean wanted to make the journey as easy as possible for his wife. He warmed the car and stocked it with snacks while she got dressed. When Ailika emerged from the back door in a pink-and-white pants combo accompanied by her two Yorkshire terriers, Dean gave her a warm goodbye kiss and made her promise to call at journey’s end.

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The Coming Collapse of Bitcoin?

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Futurist Thomas Frey: In 2008 the entire world was beginning to panic as our global financial systems teetered ever so close to total meltdown. Major banks were either failing or near failure and the entire house of cards seemed to be one 10 of clubs away from becoming a meaningless flat stack in the middle of the table.

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11 charts that explain the financial inequality in America

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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.

 

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Meltdown – The men who crashed the world

“The first of a four-part investigation into a world of greed and recklessness that brought down the financial world.”

From Open Culture:

Doc Zone, a documentary series produced by CBC Television, is now airing a four part investigation into the great financial meltdown of 2008…

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Study: Financial traders are more reckless than psychopaths

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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.

 

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Nevada’s big bet on ‘shell’ secrecy

nevada

Nevada is a magnet for businesses seeking secrecy.

In Nevada, the business of registering businesses is booming and the consultants in this thriving industry, many who are former felons, are aiding companies in seeking to avoid liabilty and disclosure.  But many of these consultants are former felons.   All of this comes at a time when Washington is calling on other nations to enforce greater transparency of financial flows.

 

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People given financial incentives to stay healthy are less likely to be admitted to hospital

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Incentive-based health programs can motivate people to change their behaviour.

Among insurance customers who were rewarded with lower premiums for keeping fit, those who added two gym visits to their weekly routine were 13 per cent less likely to go to hospital.

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