or households at the median level of net worth, much of the damage has occurred since the start of the last recession in 2007. Until then, net worth had been rising for the typical household, although at a slower pace than for households in higher wealth brackets. But much of the gain for many typical households came from the rising value of their homes. Exclude that housing wealth and the picture is worse: Median net worth began to decline even earlier.
“The housing bubble basically hid a trend of declining financial wealth at the median that began in 2001,” said Fabian T. Pfeffer, the University of Michigan professor who is lead author of the Russell Sage Foundation study.
And this much is true: If you’re in a stage of life when you are pulling money out of the market, like a retiree living off accumulated savings, a higher stock market is indeed great news. But some simple experiments with four hypothetical people show why that calculus is a lot more complicated for younger people. The key lesson: The dramatic runup in the American stock market over the last five years is actually bad news for many young adults who are just embarking on saving for retirement.
>And now we await news out of the world's fourth largest city, Nigeria's capital Lagos, where a man collapsed at the airport and is now being tested whether he too had Ebola, and we are confused how the market is not trading at fresh all time highs following what is now a recreation of the plot of the movie Outbreak. Just consider how much GDP was created or not destroyed there.
From a technical point of view, the gold price is developing a major trading range. After the crash of 2013, both gold and silver established a bottom in the summer. That bottom was tested on the last day of 2013. Since then, the newly developed trading range has held up quite well. The general rule of thumb is that the strength of a trading range (“consolidation”) is a function of the time spent to establish that range. The fact that gold, silver and miners are trading in a range for a year now should result in a solid base before a new trend starts.
The Poor Don’t Need a Life Coach (jdargis)
People with low or no earnings, in contrast, face diverse obstacles. Some need short-term help to, say, fix their car, which will allow them to commute to work, or to make a deposit on a rental apartment. Others don’t have the skills they need to earn enough to support themselves and, for whatever reason, will have a very hard time acquiring them. Sure, you could give both kinds of people food stamps and call it a day. Or you could recognize that one-size-fits-all programs don’t do justice to the ways in which individual circumstances vary.
Bond yields will rise because of “strong growth and an acceleration of inflation in the U.S.; our expectation that, as the Fed concludes bond purchases in October 2014 and the macro outlook strengthens, the market will become more hawkish relative to the timing, speed and size of the Fed tightening cycle,” the strategists wrote.
Although extinction and defaunation are distinct issues, the underlying causes are the same. The authors mention overexploitation of species used for food, habitat destruction, and the impact of invasive species, all of which have played a role for centuries; the first two factors in particular help explain why tropical species tend to be faring the worst. More recently, the rapid pace of climate change is adding to the stresses felt by many species.
A new material structure generates steam by soaking up the sun. The structure — a layer of graphite flakes and an underlying carbon foam — is a porous, insulating material structure that floats on water. When sunlight hits the structure's surface, it creates a hotspot in the graphite, drawing water up through the material's pores, where it evaporates as steam. The brighter the light, the more steam is generated.
Gold & Silver
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