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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
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Items from Professor Preponomics:
U.S. News
The Dreary Utopia of the Socialists (Mises Institute)
Report: Government Wastes Billions as National Debt Approaches $19T (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 (Business Insider)
Saudis to Set Strategy for Era of Cheap Oil as Red Ink Flows (Reuters)
The Fed and Emerging Markets: The Secular Sulk (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 (ID Theft Center) What it is… What they are after… How you can avoid it!