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Items from Professor Preponomics:
US Tornadoes, Storms in February May Cost More than $1B (Bloomberg) Excerpt: “The U.S. suffered the most February tornadoes since 2008, with storms hitting the Plains, Midwest, Southeast, Mid-Atlantic and Northeast, the London-based insurance broker said Tuesday in a report. Heavy snow, ice and hail also caused wreckage across the country.”
Our Dangerous Reality (US News & World Report) Excerpt: “In terms of potentially large-to-catastrophic events, there are five possible incidents that could meaningfully impact the economy, cause deep uncertainty for business and consumers and result in significant loss of life and property. The likelihood of these events happening is low, but, because the consequences are high, we need to be prepared to deal with them.”
China Economy: Slow Output Fuels Global Economic Recovery Fears (BBC) Excerpt: “Production rose by 5.4% in January and February – the worst since 2008.”
China’s Looming Currency Crisis (The Wall Street Journal) Excerpt: “Mass capital outflows continue despite stymied Beijing’s efforts to boost the economy. Expect the yuan to tumble.” Note: The Wall Street Journal requires sign-on and/or subscription service for access to some content.
China Weights Letting Banks Sell Bad Debt to Investors (New York Times)
Personal Economics and Household Finance
The Average American’s Saving Habits – 9 Scary Statistics (Fox News Business)
Financial Advisers Worry Fiduciary-Duty Rule to Have Negative Impact (The Wall Street Journal) Excerpt: “Nearly three-quarters of financial advisers surveyed by Fidelity Investments, or 73%, are concerned the Labor Department’s coming fiduciary-duty rule will have a negative impact on how they do business.” Note: The Wall Street Journal requires sign-on and/or subscription service for access to some content. Forbes.com is also following this story and may be an alternative access point for information, but Forbes does require that site visitors disable Ad-Blocker software.
Bank of America Phone Scam (Identity Theft Resource Center) Be very careful. Do not give out your financial information including but not limited to, account numbers and routing details.
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