Economics and Investing:

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Fingerprints for Food: Venezuela Rolls Out New Plan to Keep Shelves Stocked. “…critics warn that the scheme — which is not mandatory for the moment — will be one more way for the state to keep tabs on the population, or might be a precursor to rationing.” Submitted by T.A.

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‘Look out, we are heading for a crash again’, warns William White, the central banker who predicted 2008 crisis – G.G.

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Items from Professor Preponomics:

US News

Food Stamp Beneficiaries Exceed 45M for 55 Straight Months (Washington Free Beacon) Excerpt: “The USDA has been tracking data on participation in the program since 1969, when average participation stood at about 2,800,000. Since then, participation in the program has increased by over 1,500 percent, while the country’s population has increased by roughly 60 percent.”

Lawmakers Warn Up to 30 Corporations Might Flee US Taxes (Washington Examiner) Excerpt: “Republicans’ top tax-writer in the House of Representatives warned Friday morning that the rush of companies moving their headquarters out of the U.S. for tax purposes might surge in 2016, suggesting that up to 30 could leave.”

Importing Lower Wages as 75% of Silicon Valley’s Tech Workers are Foreign Born: How Tech Manipulates the H1-B Visa Program for Cheap Labor (My Budget 360) Excerpt: “There is a massive demand for H-1B visas around the United States but in particular in Silicon Valley. Among the total working population, 45 percent of workers are foreign born, but in tech, the numbers are skewed with 75 percent being foreign born and many are here on H-1B visas earning a much lower wage than their American counterparts.”

People Over 50 Carrying More Debt Than In The Past (Wall Street Journal) Excerpt: “Older Americans are burdened with unprecedented debt loads as more and more baby boomers enter what are meant to be their retirement years owing far more on their houses, cars and even college loans than previous generations.” Note: The Wall Street Journal requires sign-on and/or subscription for access to some content.

International News

Shops’ Electricity Rationed in Crisis-Hit Venezuela (Yahoo News) Excerpt: “Venezuelans are accustomed to severe shortages of cooking oil, diapers and other staple products. But those hoping to buy what they could find got a new unpleasant surprise this week. They found malls dark and shuttered under a government electricity rationing regime.”

Millions Face “Retirement Crisis” Over Pensions Tax Raid (The Telegraph) Excerpt: “… a decision to scrap higher rate tax relief on pension contributions would ‘penalise’ middle class savers even further and discourage them from putting aside sufficient money for their retirement.”

Personal Economics and Household Finance

50 Nifty Tricks for DIY Savings (This Old House) Excerpt: “Remember when the tightfistedness of relatives raised during the Depression was amusing? Our grandparents’ certificates of deposit and plastic couch protectors seemed downright quaint when our own home-equity and retirement portfolios were ballooning. Suddenly, though, the pot-roast-and-potatoes ethic doesn’t seem quite so kooky.”

Top 10 Money Saving DIYs of the Year (Keeper of the Home) Excerpt: “So how do you know what DIYs are worth it, and which ones aren’t? You listen to those who have been there, done that!”

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