Economics and Investing:

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Retail job cuts spike 41% in Q1

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Will TurboTax Boycott Lead To Free Government-Prepared Tax Returns? – PLC

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Items from Professor Preponomics:

US News

America is Facing a Pension Time Bomb (Nerd Wallet) Excerpt: “Of the 50 states, only Wisconsin’s pension system has a surplus. Other states, such as Illinois, have pension debt that is over 50% unfunded, meaning that unless changes are made, the state will be able to pay less than half of promised retirement payments to current workers.”

Philadelphia’s $5.7 Billion “Quiet Crisis” (Financial Times via CNBC)

Yellen’s New Emphasis for Interest Rates (Washington Examiner) Excerpt: “One clear implication of Yellen stressing the neutral rate is that it means that the specific rates targeted by the Fed in the months and years ahead will be less predictable and more tied to incoming economic data that in turn gives hints of the neutral rate.”

International News

Brazil: Economic Collapse Worse than Feared (CNN Money) Excerpt: “…Brazil’s central bank announced Thursday that it now expects the country’s economy to shrink 3.5% this year.”

Argentina Lawmakers Win Approval for Debt Deal (BBC News)

Personal Economics and Household Finance

Frugality is My Hobby (Frugalwoods) Excerpt: “It’s easy to get lulled into thinking Mr. Frugalwoods and I have achieved peak frugality, but no sooner do I make that assumption than I’m confronted with a means to save even more!”

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