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STANLEY DRUCKENMILLER: It’s time to give real capitalism a chance

“For years now a mix of financial repression and central bank intervention has made long-term interest rates largely determined by government fiat” writes Simon Black for businessinsider.com. Now, the irony of this is over the last 700 years inflation has averaged barely over 1% and interest rates have averaged just under 6%.But there’s a link to the full speech at the bottom: Can we try capitalism?. But, after he was elected, I was at least hopeful that it would represent an inflection point in the trend away from capitalism. Source: businessinsider.com…

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News Regulators 

Americans are paying more and more in credit-card interest

“Consumers with credit-card debt will likely pay an additional $2.2 billion this year in interest payments because of the last rate hike, the credit-card website CompareCards found” writes Maria Lamagna for nypost.com. In 2017, Americans hit a record high of $1.02 trillion in outstanding revolving debt, which is often categorized as credit-card debt.Americans carry a collective $687 billion in credit-card debt that is not paid in full each month, Clements said.Americans paid back $40.3 billion in credit-card debt during the first quarter of 2018, an analysis of data by personal-finance…

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RPC faces investor concerns over debt strategy for acquisitions

“Plastics packaging group RPC is facing disagreements among its investors over the amount of debt they think the company should carry in order to pursue acquisitions” writes Jeremy Warner for telegraph.co.uk. In a trading statement on Tuesday, the company’s chairman Jamie Pike said “differing investor views on the appropriate level of leverage” was “constraining the group’s ability to pursue some attractive opportunities for growth”. Source: telegraph.co.uk Share This:

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This is how much debt can sabotage your retirement

“As a retirement researcher, I am worried that debt may be eroding the long-term financial security of many workers who are nearing retirement” writes Catherine Collinson for marketwatch.com. Generation Xers, now entering their 50s, have even higher balances — including $231,774 in mortgage debt and $30,334 in nonmortgage debt.According to a 2017 study by Experian, EXPN, +0.39%   boomers have an average of $188,828 in mortgage debt and $27,513 in nonmortgage debt.The median retirement savings among those who have taken a 401(k) loan, however, is just $123,000.Older workers who are closer to…

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News Stocks 

Redfin shares fall 4% after share, debt offerings news

“Underwriters of the stock offering would have a 30-day option to buy an additional 525,000 shares, and the underwriters of the notes offering a 30-day option to get an additional $18.75 million in notes, Redfin said” writes Claudia Assis for marketwatch.com. RDFN, +2.00% fell more than 4% late Monday after the Seattle-based residential real-estate brokerage said it plans to start public offerings of 3.5 million shares of common stock and $125 million in convertible notes due 2023. Source: marketwatch.com Share This:

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Xerox explores sale of leasing finance unit: sources

“Divesting the leasing unit would relieve Xerox of roughly $3.6 billion in debt, one of the sources said” writes Midwest Communications Inc for 95kqds.com. Xerox has not made a final decision on selling the leasing finance unit, the sources said this week, asking not to be identified because the deliberations are confidential.Reducing Xerox’s liabilities through the sale of the leasing finance unit would allow private equity firms to place more debt on the company to juice returns. Source: 95kqds.com Share This:

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Senate candidate shuffles cash to keep excess donations

“Federal law allows candidates to re-designate excess contributions to pay off old campaign debt” writes Matt Volz for seattletimes.com. Six of the nine donors whose contributions were re-designated to the 2014 debt have now donated $8,000 to Rosendale’s campaign this election cycle. The campaign still owes Rosendale $176,863 for personal loans, according to campaign finance reports.In Rosendale’s May campaign finance report, he re-designated $22,300 in contributions from nine donors as debt repayments for Rosendale’s failed 2014 campaign for U.S. House. Source: seattletimes.com Share This:

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Trump Supreme Court pick piled up credit card debt, says White House

“Each credit card held between $15,000 and $50,000 in debt, and a Thrift Savings Plan loan was between $15,000 and $50,000” writes Amy Brittain for independent.co.uk. In 2016, Kavanaugh reported having between $60,000 and $200,000 in debt accrued over three credit cards and a loan.His past financial disclosure forms reveal that Kavanaugh has carried significant credit card debt – on and off – for more than a decade. Source: independent.co.uk Share This:

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Brett Kavanaugh accumulated thousands in credit card debt from buying Washington Nationals tickets: Report

“Supreme Court nominee Brett Kavanaugh accumulated credit card debt from buying baseball tickets, a new report says” reports washingtonexaminer.com. Kavanaugh reported incurring between $60,000 to $200,000 in credit card debt in 2016, the Washington Post reports.Reporting requirements from 2017 indicate that Kavanaugh no longer has the debt, or that the debt was below the reporting requirements. Source: washingtonexaminer.com Share This:

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5 reasons why a pay raise might not make you richer

“When you got a pay raise, what hopes did you have for this new money in your budget?” writes Aol Staff for aol.com. The debt snowball and debt avalanche methods can help you pay off debt in smarter, faster, and cheaper ways.As your pay increases, you’ll have more money to manage — and you’ll need to update your financial strategies to keep up with it. Source: aol.com Share This:

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