From the beginning of 2012 to the end of March, some 365,000 Spaniards between the ages of 16 and 29 have left the country, according to the National Statistics Institute.
"I expect the major markets to test resistance levels of last week as investors are still seeking higher highs and new record levels in the near term, whilst the central banks are continuing their quantitative easing operations," said Tom Robertson, senior trader at Accendo Markets.
The European Central Bank's Executive Board member Joerg Asmussen said yesterday the bank will stick to its expansive monetary policy for as long as necessary.
It used to be that many Americans entered retirement having paid off their mortgages and most of their other debts. This should have been senior citizens' Golden Years.
Nowadays, more and more people over the age of 65 are struggling with mounting debt levels, fueled primarily by mortgages and credit cards. The average debt held by senior citizens has ballooned to $50,000 in 2010, up 83% since 2001, according to Federal Reserve data crunched by the Employee Benefit Research Institute.
What's interesting is that Amy's younger brother did not go to college, yet his life is financially far better off. "I used to do my work before I went out to play. But he would just take off and, you know, do whatever. He was a gangster wannabe!" Amy's brother has no college degree, no student loan debt, and earns far more than Christian. He also has a huge home in the Midwest and frequently takes expensive vacations.
With about $1 billion in unfunded liabilities combined between the city's four pension programs, Fitch considers "the weak funding levels for all programs as a negative credit factor."
The biggest problem for the city are its police and fire pension funds, Fitch noted. Next fiscal year alone, the city will pay $42 million for the two retirement funds, a 20 percent increase from the current year. Just a decade ago, the city paid less than $5 million a year for public-safety pensions.
Disaster looms in 2014 as city faces tax hikes, service cuts or both as next mayor inherits bill and one epic challenge.
Mr Kuroda and Japan's Prime Minister, Shinzo Abe, have launched a vast stimulus program, promising in April to inject $US1.4 trillion into the economy in less than two years through quantitative easing, to jolt the Japanese economy out of a 15-year deflationary malaise and lift inflation to 2 per cent.
The policy triggered a huge sharemarket rally. But a surge in bond yields, which means bond prices have fallen, has threatened to make government borrowing expensive. Domestic banks could be forced to take losses on their large holdings of Japanese government debt.
More than 7.5m young Europeans aged between 15-24 are not employed or in education or training, according to European Union data. The rate of youth unemployment is more than double that of adults, and more than half of young people in Greece (59%) and Spain (55%) are unemployed.
François Hollande, the French president, dubbed them the "post-crisis generation", who will "for ever after, be holding today's governments responsible for their plight".
The District has found a great source of income in speed camera on one of the busiest thoroughfares in the city. One box that sits on K Street has generated $8.1 million from ticketing drivers—specifically from issuing 61,061 speeding tickets in seven months, The Washington Post reported. Local drivers’ losses are the District’s Treasury’s gain.
Koichi Hamada, a retired Yale University professor advising Prime Minister Shinzo Abe, says the Bank of Japan can add to already unprecedented stimulus if necessary to drive an economic revival.
BOJ Gov. Haruhiko Kuroda “should continue to trust in his judgment and ease further” if needed, said Hamada, 77, who was tapped by Abe last year to advise on monetary policy. A stock slump was “a natural correction” and “Abenomics” is working “as well as or better than expected,” Hamada said.
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