Economics and Investing:

Are Millennials as broke as the media says they are? The answer is a resounding yes for the following reasons.

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Fourth Turning – Social & Cultural Distress Dividing The Nation – Sent in by J.Q.

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Items from Professor Preponomics:

Britain Sets 2018 Deadline for Claims in Country’s Costliest Bank Scandal (Reuters)

European Banks Sitting on $1T in Bad Debt (Contra Corner)

Switzerland is about to Launch a HUGE Experiment in the “War on Cash” (Business Insider) Commentary: The Swiss and the Swedes make for a very interesting contrast in the view of cash vs. electronic funds.

Oil Prices Drop on Supply Glut Worries (Market Watch)

7 Money Saving, Stress-Less Holiday Shopping Tips (Real Simple)

U.S. Debt Spikes $578B in Three Weeks (Washington Examiner) Note: This is what happens when spending in Washington is wholly unrestrained.

Tight Inventories & Rising Prices Hurt U.S. Home Sales (Reuters)

HSBC to Begin 2,000 Commercial Banking Unit Layoffs (Bloomberg)

The Good Ol’ Days: When Tax Rates Were 90% (Mises Institute)

Goldman: Stocks Going Nowhere in 2016 (Business Insider)