The Mess That Greenspan Made

The Myth of Retiring Baby Boomers

Anyone interested in digging deeper into the quandary over what’s responsible for the declining labor force participation rate in the U.S. should have a look at this item from Doug Short over at Advisor Perspectives where the chart below is offered up as evidence that it’s not just demographics since the Baby Boom generation is actually working more.

Those born between 1946 and 1964 (and recall that the boom faded quickly in 1958) fit into the first four groups with only one group showing an increase in those seeing fit to no longer work or look for work – the 50- to 54-year olds. Given the slope of curves for the five older groups, perhaps their decision will prove to be a bit hasty as one thing is clear from the chart above – the older you get, the more likely it is you’ll re-enter the work force.

Tagged with:  

Thursday Morning Links

Deutsche Bank warns of large loss – BBC
The global economy is in serious danger – Washington Post
Profits at big U.S. banks soar since crisis: New York Fed – Reuters
Syrian forces begin ground offensive backed by Russia – Washington Post
Once the Biggest Buyer, China Starts Dumping U.S. Government Debt – WSJ
China, Russia, Norway, Brazil, Taiwan Dump US Treasuries – Wolf Street
Meet Fortress’s New Subprime-Loan Partner on Hollywood Boulevard – Bloomberg
8 Ways Your Health Care and Retirement Benefits May Change in 2016 – Fiscal Times
Does Sanders really have a path to the Democratic nomination? – The Hill
Donald Trump calls ex-President George W. Bush ‘a disaster’ – MarketWatch
The biggest prisoner release in US history, explained – Vox
Did The Fed Save The World? – Krugman, NY Times
Bernanke’s Balderdash – Contra Corner

China stocks jump, other markets await Fed minutes – AP
You can stop panicking about the stock market now – MarketWatch
Wall Street Win Streak Seen Ending on Global Market Turmoil – Bloomberg
US shale oil stares into abyss with Opec ready push it over – Telegraph
Gold, silver down on China’s return from holiday, Fed minutes awaited – Reuters
A Stealth Bull Market in Gold and Silver Is Underway – GoldSilverWorlds
The Real Reason Belgium Sold 1,098 Tonnes Of Gold – BullionStar
Mining stocks surge as end of commodity rout called –
The Germans Are Coming for Their Gold – CNBC

Recession buzz is heating up on Wall Street – CNBC
Consumers Splurged with Gas Savings After All – WSJ
German exports slump, China is to blame – CNN/Money
Chinese University Tops MIT in Engineering Rankings – WSJ
Consumer Confidence in Housing Market Rose in September – Origination News
RealtyTrac: Zombie foreclosures no longer haunt U.S. housing market – Inman News
The most important paragraph in Ben Bernanke’s new book – Vox
Bernanke Talks Tough But Was Weak When It Mattered – The Intercept
Four things to watch in the Fed minutes – MarketWatch
Time to End Monetary Central Planning – Epic Times


Half of Americans Have No Savings

I guess this shouldn’t be surprising given the number of cars you see lined up at Starbucks every morning and extrapolate from there about the state of personal finances in America.

GoBankingRates offers up this item today about how much money people have in their savings accounts (granted, this doesn’t include retirement accounts, so it’s not the end of the world – it’s just moderately disturbing), along with the rather simple explanation that out-of-control spending is the primary reason for the chart below.

I remember getting lots of blank stares when people would ask how my wife and I retired at such a young age and I’d say, “It’s not just how much money you have, how much money you spend is pretty important too – the little things really add up”.

Then again, conventional wisdom these days is probably, “Why do I need a savings account as long as I’ve got credit cards”, an attitude that banks probably just love to hear.

Tagged with:  

Wednesday Morning Links

IMF Downgrades Global Economic Outlook Again – WSJ
A worried IMF is starting to scratch their head – Guardian
Global shares higher despite lower IMF growth forecast – AP
The Case for the World Economy’s Defense as Recession Fears Rise – Bloomberg
What Ben Bernanke could learn from liberal conspiracy theorists – The Week
Delamaide: Even Bernanke asks how bankers avoided jail – USA Today
Sorry, Ben Bernanke, But Fed’s ‘Recovery’ Was Miserable – IBD
Survey: 62% of Americans Have Under $1,000 in Savings – GoBankingRates
Doomsday coming? Christains Say End of the world imminent – Telegraph
Retiree Health-Care Costs Rise to a Cool Quarter Million – Bloomberg
US to Let 6,000 Drug Offenders Out of Federal Prison Early – Vice News
After Intelligent Life Is Discovered – The Atlantic

Rising oil powers broader market rally – Reuters
S&P 500 reaches a bull-bear crossroad – MarketWatch
Ask Matt: What’s making investors so nervous? – USA Today
Four Ways Currency Rigging Transformed the $5.3 Trillion Market – Bloomberg
China forex reserves post record quarterly fall on PBOC yuan support – Reuters
SocGen: Two Factors That Will Drive Markets In Q4 (Spoiler: Not The Fed) – Zero Hedge
Charting the Markets: Day Six of the Global Stock Rally – Bloomberg
Gold steadies, supported by weak U.S. export data – Reuters
China Boosted Gold Reserves 0.9% Last Month – Bloomberg
Gold price momentum builds –

Why the next recession is set to truly slam New York – NY Post
Demographic Trends for the 50-and-Older Work Force – Advisor Perspectives
Strong factory output unlikely to avert slowdown in UK growth – Telegraph
Bank of Japan Refrains From Adding to Record Stimulus – Bloomberg
Looming Doubts : Merkel’s Grip on Refugee Crisis May Be Slipping – Spiegel
Close Quarters: Asylum Shelters in Germany Struggle with Violence – Spiegel
Millennials transition into housing market as rent rises – Cronkite News
The housing market today: A ‘bubble larger than 2006′ – CNBC
Bernanke Tries to Rewrite the Financial Crisis – Wall St. on Parade
In a Reunion, Bernanke and Geithner Revisit the Crisis – NY Time


I Bet They Didn’t See That Coming

What is it with the French?

Presumably they ask the same questions about us ‘Mericans and our guns, but the bloody French Revolution from about 225 years ago comes to mind watching these Air France executives trying to exit the scene after announcing mass job cuts yesterday.

Details of how the executives were “almost lynched” are found in this story from Agence France-Presse, Whochit News provides this video, and there’s this report at The Guardian.

They’ll probably think a little more about security next time…

Tagged with:  
Page 1 of 79612345102030...Last »
© 2010-2011 The Mess That Greenspan Made