Economics and Investing:

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Was There A Run On The Bank? JPM Caps Some ATM Withdrawals – DSV

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The Boomer Retirement Meme Is A Big Lie

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Items from Professor Preponomics:

US News

Fed Loosens Key Post-Financial Crisis Banking Rule (Washington Examiner) Excerpt: “The impact of the rule will be to increase demand for such bonds, lowering the interest rates that states and cities must pay to finance roads, bridges, buildings and other spending projects. It will also make it easier for banks to meet the liquidity requirement.”

Wall Street’s Latest Dirty Word – Stagflation (CNBC) Excerpt: “Stagflation, or conditions in which costs are rising but growth is not, last was seen in the 1970s, before then-Fed Chair Paul Volcker had to push the economy into recession to slay the inflation dragon.”

Obamacare Patients Sicker and Pricier than Expected (CNN Money) Excerpt: “…the fact that these patients are sicker than expected is putting some insurers in a financial bind. Several have reported big losses and have questioned whether they can afford to remain in the Obamacare market.”

Why 80% of Obamacare Plans are Ineligible for this Tax Break (Market Watch) Excerpt: “…only 19% of health plans on the federal Obamacare marketplace were eligible for health savings accounts (HSAs), even though the vast majority of them had high deductibles.”

International News

Saudi Arabia Can’t Stop Spending Its Foreign Cash (Business Insider) Excerpt: “The country is now running a massive budget deficit, just shy of $100 billion (£72.2 billion), as it refuses to cut spending even though oil receipts are down.”

How Cheap Oil is Transforming the Saudi Economy (The Fiscal Times) Excerpt: “The fiscal squeeze is forcing some changes. First, the Saudi government is looking at new taxes, including a 5 percent value added tax (VAT). That may seem like a run-of-the-mill austerity measure, but for Saudi Arabia it is a novel proposal: it will be the first tax imposed in the country.”

Saudi Arabia Plans $2 Trillion Megafund for Post-Oil Era: Deputy Crown Prince (Bloomberg) Excerpt: “As part of that strategy, the prince said Saudi will sell shares in Aramco’s parent company and transform the oil giant into an industrial conglomerate. The initial public offering could happen as soon as next year, with the country currently planning to sell less than 5 percent.”

Personal Economics and Household Finance

36 Ways to Lower Your Power Bill this Summer (Just Plain Living)

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