We've spent a lot of time of late discussing the precarious financial positions of states like Illinois, Connecticut and New Jersey which each suffer from their own myriad of financial threats including massive budget deficits, monstrous unfunded pension liabilities, pending debt downgrades, etc. In case you've missed those notes, here is a recap for your amusement:
One week ago, Illinois passed its three year-overdue budget in hopes of avoiding a downgrade to junk status, however in an unexpected twist, Moody's said that it may still downgrade the near-insolvent state, regardless of the so-called budget "deal." In fact, a downgrade of Illinois may come at any moment, making it the first U.S. state whose bond ratings tip into junk, although as of yesterday, credit rating agencies said they were still reviewing the state's newly enacted budget and tax package.
America’s largest banks and their shareholders were quick to celebrate a recovery in trading revenues over the past year. But they may have spoken too soon.
Wall Street vets know they can’t fight the Fed – especially with the ostensibly “data-dependent” central bank committing to returning the Fed funds rate to 3% over the next two years. But with the arrival of the summer doldrums ushering in low trading volumes across markets, traders are acknowledging that they can’t fight the seasons, either.
Long walks on the beach, holding hands in a hottub overlooking the ocean, working on your golf game...in Hawaii, treating the kids and grandkids to treats and trips - we have all seen the commercials of how great 'retirement' can be (or could have been), if you just put a little more money into the stock market via your friendly local asset gatherer.
Well, sad to say, as Bloomberg reports, more and more Americans are spending their golden years on the job.
Authored by Jim Quinn via The Burning Platform blog,
Are we on the verge of a rebellion against technology?
Yesterday I was taken aback when I noticed an elderly Wal-mart greeter amusing herself with a fidget spinner.
What the hell is a fidget spinner? It’s a toy you just spin with your fingers.
It’s the hottest selling summer entertainment item that retails between $2.99-$8.99 depending on wether it lights up or makes noise.