News 

Almost 100 million people a year ‘forced to choose between food and healthcare’

“Almost 100 million people are pushed into extreme poverty each year because of debts accrued through healthcare expenses” writes Verity Bowman for theguardian.com. An estimated 72% of those spending 25% of their household budgets on healthcare live in Asia.Researchers found that more than 122 million people around the world are forced to live on $3.10 a day, the benchmark for “moderate poverty”, due to healthcare expenditure.A total of 800 million people spend more than 10% of their household budgets on “out-of-pocket” health expenses, defined as costs not covered by insurance.At…

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Markets News Stocks 

Household stock holdings are at their 2nd-highest ever—behind only the dot-com era

“Read: Global stocks could make history this month by refusing to fall Also: Think you can time the stock market?” writes Markets Reporter for marketwatch.com. In the third quarter, households and nonprofits held 36.3% of their money in stocks, the second-highest rate ever.The only time this peak was topped occurred in the first quarter of 2000, during the peak of the dot-com bubble, when stockholdings reached 42% of total assets.Read more: Retail investors see this as the ‘best time ever’ to jump into stocks.In terms of measuring investor bullishness, this…

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Markets News Stocks 

Household wealth climbs $1.7 trillion on stock market, house price advances

“What happened: The stock market rally continued in the third quarter, and that $1.1 trillion gain was the big driver of the gain in net worth” writes D C for marketwatch.com. As the Federal Reserve prepares another rate hike, companies have 27.65% of their debt in short-term borrowings.To the extent the rise in household wealth helped middle-income families, it’s through the rise in real estate values. Source: marketwatch.com Share This:

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Here’s what the Senate tax plan means for a family of four making $25,000, $75,000, or $175,000

“Trump’s tax plan, if it passes, may free up some cash in the typical household’s monthly budget” writes Skye Gould for businessinsider.com. According to the most recent IRS analysis of individual tax returns, 70.4% of taxpayers claimed the standard deduction on their tax return.Before tax reform can become official, Republicans will have to agree on one plan.We’ve also explained how to use your 2016 tax return to estimate how your taxes might change next year if Trump’s tax plan is signed into law.For families with a household income of $25,000…

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New Yorkers’ household debt has surged by $605B this year

“Many credit card consumers have already given up the ghost or have had lenders calling them for overdue payments” reports nypost.com. One expert says the credit card binge reminds him of the buildup to the financial crisis of 2007 and 2008.The huge surge in total US household debt — now a record $12.96 trillion and a harbinger of recession, some analysts say — is washing across New York with brutal consequences.As lenders continue to ratchet up their portfolios, the Fed data shows an increase in credit cards and auto loans…

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Canada’s household debt levels higher than any other country, report says

“Household debt levels in Canada are higher than in any other country, according to a report by the Organization for Economic Cooperation and Development (OECD)” writes Andrew Francis Wallace for cnbc.com. In a preliminary version of the report, set to be released fully next month, the OECD found Canada’s household debt ranked as the highest among the 35 developed and developing countries the group monitors.The rapid accumulation of household debt for Canadians could also leave its economy particularly vulnerable to shocks, the organization said. “Although in part this reflects strong…

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Markets News 

8 charts that show how insane the economy has become

“Unlike mortgage or business debt, student debt is backed by no tangible asset you can repossess” writes John Mauldin for marketwatch.com. See this graph of real median household income, from my friend Murat Koprulu: This is median, not average, household income.The median household is back where it was in the 1990s The result is a strange economy in which the people who want jobs mostly have them — but remain deeply dissatisfied, stressed, overleveraged and often angry.Taxpayers are on the hook for over a trillion dollars in student debt.To that…

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5 places in America where being a parent won’t leave you broke — and 5 where it might

“The cost associated with raising children is also affected by how many kids you have and whether you’re a single parent or a two-parent household” writes Tanza Loudenback for businessinsider.com. By contrast, in Nevada, Florida, and Arizona, the least affordable states to have children, child-related costs will eat up more than 80% of the household income.In New Jersey, Maryland, and Connecticut parents can expect to put less than 60% of their total income into child-related costs. Source: businessinsider.com Share This:

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Households squeezed as credit dries up, survey finds

“The timing of this credit shortfall is also particularly painful for shops and consumers, as it has landed during the crucial Christmas trading period” writes James Titcomb for telegraph.co.uk. Whilst on the other hand, inflation has sharpened, forcing households to utilise unsecured debt and dip into savings to bridge the gap.”. Relatively low interest rates make borrowing an attractive solution for bridging the cost-of-living-gap, as prices rise, but this rising demand for credit has come just when household are hitting difficulties in securing it. Source: telegraph.co.uk Share This:

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