The American Dream Is Over [1]
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G.G. sent in a link showing what happens when you keep kicking the can down the road: Stocks are more overvalued now than at 2000 and 2007 peaks [2]
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Items from Professor Preponomics:
U.S. News
The Dreary Utopia of the Socialists [3] (Mises Institute)
Report: Government Wastes Billions as National Debt Approaches $19T [4] (Judicial Watch) Excerpt: “The federal government spent more than $65,000 to study what happens if someone turns on a light at night in a rural area. Anyone raised in a rural area can attest that one way to attract insects is to turn on a light. This type of ridiculous spending is why American taxpayers have been saddled with a debt of approximately $19 trillion. NPS* needs to put down the national credit card and walk away.” *NPS is the National Park Service
International News
Chinese Admit to Faking Economic Data [5] (Business Insider)
Saudis to Set Strategy for Era of Cheap Oil as Red Ink Flows [6] (Reuters)
The Fed and Emerging Markets: The Secular Sulk [7] (The Economist) Article Quote: “The fear is that a golden era of growth, fueled by China’s ravenous appetite for commodities, has come to a close, exposing deep cracks in their economic foundations.”
Personal Economics and Household Finance
Scammers Targeting Amazon Customers Passwords [8] (ID Theft Center) What it is… What they are after… How you can avoid it!