Daily Digest

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Daily Digest 5/7 - Tuition Rates Continue To Rise, Child Diabetes Skyrockets

Wednesday, May 7, 2014, 10:20 AM

Economy

Early Tap of 401(k) Replaces Homes as American Piggy Bank

The median size of a 401(k) is $24,400 as of March 31, with people older than 55 having $65,300, according to Fidelity Investments. Those funds can disappear quickly in retirement, and the early withdrawals indicate that the coming retirement crisis could be even more acute than expected.

States seek a spot in retirement plan landscape

The average working household has almost no retirement savings, the National Institute on Retirement Security said in a June 2013 report. The median retirement account balance is $3,000 for all working-age households and $12,000 for near-retirement households.

Two-thirds of working households ages 55 to 64 with at least one earner have retirement savings just slightly exceeding their annual income, which the National Institute on Retirement Security says is "far below" what's needed to maintain their standard of living in retirement.

Venezuela's Minimum Wage Hike Is No Match for Inflation

Days before the minimum wage hike went into effect, Maduro raised prices on sugar, rice, and poultry, whose prices are set by the government. The cost of rice and sugar nearly doubled; that of poultry more than doubled. Further increases are forecast, including a hike in the electricity rate, which has been frozen since 2003, and a possible rise in domestic gasoline prices.

Tuition rates still going higher

Google News headlines from the past week, showing where prices are going up.

One in seven hospital patients is diabetic: NHS now pays record £10billion a year to treat the condition (UK)

It will also increase the costs of social care, while a further £9billion is lost to the economy because of reduced productivity or those with diabetes being forced out of work altogether.

Some 3.8million people in the UK have diabetes, including 600,000 who are unaware they have it. The total is predicted to rise to 5million by 2025.

Diabetes Rates in American Children Skyrocket

The rate of Type 1 diabetes in people under the age of 19 rose from 14.8 per every 10,000 persons in 2001 to 19.3 per every 10,000 persons in 2009. The greatest prevalence increase was in youths ages 15 through 19 years; in both sexes and all races.

The rate for Type 2 diabetes jumped from 3.4 per 10,000 in 2001 to 4.6 in 2009.

Ruble Drop Hitting Russia Shoppers Speeds Slide to Recession

“Things are bad in the economy, incomes aren’t growing, the economy is not growing and because the ruble is losing value and inflation is accelerating, real incomes of consumers will decrease or grow slower,” Olga Sterina, an economist at UralSib in Moscow, said in an April 21 interview.

Rising Price of Metal Attracting Thieves to Utah Homes, Businesses

The price of copper just five years ago was just over 50 cents per pound but today's going rate is just over $3 per pound. Other metals are seeing similar rising prices. McGowan says as the price goes up, so does the crime rate.

First-Quarter U.S. Economic Slump Looking Uglier by the Day

It now looks like the world’s largest economy contracted in January through March instead of eking out a 0.1 percent gain at an annualized rate as reported by the Commerce Department last week. The latest knock came from data issued today.

Canada’s public service pension plan has $152 billion in liabilities: AG

The spring report from Canada’s Auditor General is revealing some disturbing facts about the country’s public service pension plan and serious issues with overcrowding in our prisons.

The AG has found the federal government’s net liability for the pension plan is $152 billion and there are more long-term risks that need to be addressed.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/6/14

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

3 Comments

saxplayer00o1's picture
saxplayer00o1
Status: Diamond Member (Offline)
Joined: Jul 30 2009
Posts: 4066
Arthur Robey's picture
Arthur Robey
Status: Diamond Member (Offline)
Joined: Feb 4 2010
Posts: 3936
And Here it Comes.

Step two in the Liberation of the Ukraine.

The IMF has approved a $17 billion loan to Ukraine. The first $3.2 billion tranche has arrived on Wednesday.

RT

 

Bankers Slave's picture
Bankers Slave
Status: Platinum Member (Offline)
Joined: Jul 26 2012
Posts: 520
Exactly as

you predicted Arthur.

 

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