Soaring levels of debt among those in their late 50s and early 60s means many will have to keep on working long after their retirement age.On average, they owe at least four times as much as people of the same age a decade ago, according to a study.
The debts do not include mortgages, [...]
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New residential building in the US last year suffered its biggest drop in nearly three decades, according to government data published on Thursday that highlighted the dramatic downturn in US housing.
Housing starts for 2007 fell by more than 25 per cent to 1,376,100 homes. The largest previous drop was recorded in 1980, as the US [...]
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FT.com
Large banks with big balance sheets and access to central bank liquidity could be poised to benefit from the recent turmoil in financial markets, says ratings agency Moody’s in a report on Wednesday.
As the crisis of confidence in credit has reduced access to cheap capital markets funding for non-bank participants such as hedge funds, the [...]
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London Telegraph
The Chinese government has begun a concerted campaign of economic threats against the United States, hinting that it may liquidate its vast holding of US treasuries if Washington imposes trade sanctions to force a yuan revaluation.
Two officials at leading Communist Party bodies have given interviews in recent days warning - [...]
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Massive mortgages are turning a generation of parents and first-time buyers into the modern equivalent of slaves, an alarming report has claimed.Those who manage to scrape on to the property ladder and parents with young families are like “bonded labourers” tied to their jobs, it said.
And it warns the soaring price of homes means Britain [...]
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UK Daily Mail
At first it would be no more than a nuisance. No burning skyscrapers, no underground explosions, just a million electronic irritations up and down the land.
Thousands of government web pages suddenly vanish to be replaced with the Internet’s version of the Testcard - that dreaded screen ‘404 - Not [...]
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Filed under: Credit, What’s Really Going On?
NEW YORK (CNNMoney.com) — April 30 is the day that Americans can stop working to pay the taxman and start working for themselves, according to the Tax Foundation’s annual estimate dubbed “Tax freedom day.”
Tax freedom day is theoretical because it assumes we’ve been working 7 days a week since the start of the year, and [...]
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Local Lawmaker Wants To Stop The State’s Four-Year-Long Practice
(CBS13) SACRAMENTO When Alexis Jones tried buying house and found several accounts she didn’t recognize on her credit report, she knew she had become an identity theft victim. Every year 45,000 other Californians become victims of identity theft.
Video Here
“I do a lot of [...]
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Filed under: Credit, What’s Really Going On?