In a poll, Greeks tested highest in all of Europe for mastery of personal financial issues. Here’s what this impossible finding means
The Economy
Birth Rate Plunges During Recession
Birth rates hit an historic low in America last year. This small number of newborns will hit the workforce in 20 years, just as the last baby boomer reaches full retirement age. The pension math is not pretty.
How Fining Bad Banks Can Fix Our Biggest Money Problems
When the government came down hard on Big Tobacco a decade ago regulators required that a portion of any penalties go toward educating youth on the dangers of smoking. Amid the big bank Libor scandal and a stream of continuing bank fines, regulators now should require that a portion of future bank penalties fund financial education. It’s …
The Pessimist’s Guide to Surviving the Fiscal Cliff
Whatever the budget deal, it probably won’t be able to prevent sluggish growth and the risk of rising inflation.
Where in the World is Con Ed?
Taking two weeks to restore power is unconscionable. It’s also part of a troublesome trend of more and longer outages that point up major flaws in our national power grid. How long before we bury the power lines?
Why Retirees Can’t Absorb a Tax Hike
With the election upon us and the fiscal cliff looming, tax rates are on a lot of minds–especially retirees and those saving for retirement. A new survey shows how higher rates would curb retirement saving.
Sandy Bump? Where Business Is Brisk After the Storm
No one should anticipate that a “Sandy stimulus” will kick the economy into a higher gear. Even so, Sandy has caused businesses of all shapes and sizes to be exceptionally busy — including a few you wouldn’t expect.
Brand Names Just Don’t Mean as Much Anymore
No matter if we’re talking about cereal, cough syrup or batteries, products featuring nationally recognized name brands tend to cost more than their generic store-brand counterparts. But the assumption that higher price means …
Money Talking: How to Decipher the Bipolar Economy
Consumers are confident, but corporations aren’t. What will it mean for the markets? And, what does the sex abuse scandal at the BBC tell us about the ability of big institutions to govern themselves? For this and more, tune into this week’s episode of WNYC’s Money Talking, with TIME’s Rana Foroohar and Joe Nocera of The New York Times.
The U.S. Economy’s Split Personality
Is the U.S. economy becoming bipolar? That’s what it seems like if you contrast the behavior of consumers versus corporations lately. Individual shoppers have been as bullish as they have been in years. With stocks relatively high, personal finances in better shape, and the housing market in recovery, American consumers have finally …
Is the U.S. Waging a War on Savers?
Government policies that discourage saving are one of the chief reasons that so many Americans fail to put money away regularly.
Can We Handle the Truth? Public Pensions Are Short on Cash
We are in trying times for sure when the good news about public pensions is that an independent study confirms a huge funding shortfall–and it’s greeted with applause because at least pension managers haven’t been hiding it.