19 ноября, 04:09

The Economic Security of Older Women

Today, the Office of Economic Policy at the Treasury Department released the fourth in a series of briefs exploring the economic security of American households. This brief​ focuses on the economic security of older women. In this brief, we ask: Are older women at greater risk of poverty or being unable to manage their expenses than other populations? Are there specific groups of women at risk? What are the implications for policy? Compared with men, we find that elderly women are much more likely to be economically insecure. We attribute this finding to a variety of factors. Women live longer than men, meaning they have to finance a longer retirement and that they are more likely to reach an age in which they must finance disability costs.  In addition, women tend to have lower lifetime earnings than men. Finally, women are more likely than men to live alone and thus are less likely to live with someone with whom to share economic risks.  In this brief, we assess economic insecurity in a number of ways but focus on two measures: the poverty rate and the “overextended” rate—the share of the population whose spending exceeds what it can afford based on its income and annuitized wealth. We view this latter measure as reflecting economic insecurity, because elderly women who are overextended and on fixed incomes must reduce spending to live within their means. For women with low levels of consumption, this could entail cutting back on necessities like food and medicine. Comparing different measures of economic security, we find that the overextended share of the female population is 29 percent, far higher than the poverty rate of 12 percent. The implication is that economic insecurity is broader than the poverty rate implies. We find that single women are far more economically insecure on all measures than married women and that widowhood dramatically increases the likelihood of becoming insecure relative to remaining married. Widowhood is associated with a large loss in income and wealth; and while widows experience a large drop in household spending at widowhood, they continue to cut spending at rates faster than single women and married households.  We also find that disability is associated with economic insecurity. The median disabled woman’s household assets (including non-liquid assets like housing) are sufficient only to finance six months in a nursing home, and the median disabled woman’s household has financial wealth sufficient to cover less than half a month of nursing home expenses. Women who remain married throughout their elderly years, on the other hand, do not experience high rates of economic insecurity. And holding constant marital status and disability status, we do not observe sharp increases in economic insecurity as women age. Notably, even though the poverty rate rises for women as they age, the overextended rate falls as women rely more on wealth to support themselves.   All told, our findings suggest that public policy should focus on specific risks associated with aging, particularly living alone and living with a disability. We note that married couples might benefit from shifting more of their wealth from periods in which both spouses are alive to periods in which only one spouse is alive. Such an outcome could be accomplished in the private sector with greater use of financial products with survivor benefits. Experts have also suggested ways that public policy could help address the challenge, such as by restructuring Social Security to increase survivor benefits. Looking at disability, we note that while Medicaid and private long-term care insurance provide protection for some households, there is still a large unmet need that is apparent when looking at the economic security risks posed by disability. Karen Dynan is the Assistant Secretary of Economic Policy at the Department of the Treasury.

18 ноября, 18:30

The Page Which All Discussion of the Trumpublican Tax... "Reform"? "Cut"? "Giveway"? Should Start from...

Information from the very sharp **Eric Toder**: [The House Ways and Means Tax Bill Would Raise the National Debt to 123 percent of GDP by 2037](http://www.taxpolicycenter.org/taxvox/house-ways-and-means-tax-bill-would-raise-national-debt-123-percent-gdp-2037): "The Tax Policy Center estimates that the House Ways and Means Committee’s version of the Tax Cut and Jobs Act (TCJA)... >...over the first decade... increases the deficit by 1.7 trillion dollars.... Between 2028 and 2037, the TCJA would reduce net receipts by 1.6 trillion dollars and add 920 billion dollars in additional interest costs. Over the entire 20-year period, the combination of reduced revenues and higher interest payments would raise the federal debt held by the public by 4.2 trillion dollars... This is based on: >the baseline economic and budget estimates in the Congressional Budget Office’s (CBO) March, 2017 long-term and June, 2017 updated 10-year budget projections... But, of course, if the Trumpublican plan is passed, the best forecast of how the economy would evolve would not be the baseline CBO spring 2017 projections, but would be different. How different, and in which direction? The best way to explain what professional economists think is to follow turn-of-the-twentieth-century British economist Alfred Marshall and divided the analysis up into four "runs", each of which corresponds...

Выбор редакции
18 ноября, 16:05

British rider Daniel Hegarty dies in crash at Macau Motorcycle Grand Prix

• Hegarty came off his Topgun Racing Honda bike at a sharp bend• The 31-year-old from Nottingham died on his way to hospitalThe British rider Daniel Hegarty has died after a horrific crash in the Macau Motorcycle Grand Prix. The 31-year-old, competing for Topgun Racing Honda, came off his bike at a sharp bend during the sixth lap and was flung into barriers, losing his helmet and sustaining fatal injuries.The race was immediately red flagged and never restarted as Hegarty was treated. He died on his way to hospital. A statement from the race organisers on Twitter read: “The Macau Grand Prix Committee extends its deepest sympathies to the family and friends of Daniel.” Continue reading...

Выбор редакции
18 ноября, 09:59

Cost of Christmas dinner rises 5% – but there’s good news from Brussels … sprouts

As food prices rise in the wake of Brexit, we count the cost of your festive feast. But you don’t have to be a Scrooge – £20 can still feed six peopleThe big supermarkets have raised the cost of Christmas dinner by around 5% this year, according to analysis for Guardian Money, far outstripping the 2.1% rise in average wages in 2017. But while Brexit may be blamed for food price rises, there is good news from Brussels – sprouts are down by as much as a third.You may, however, have to be parsimonious with the parsnips this year. Our analysis, carried out by price comparison site mysupermarket.com, found that the cost of the vegetable at Sainsbury’s is 67% higher than last year. But the data also reveals sharp deviations between the major groups, with Morrisons charging less compared to last year. Continue reading...

18 ноября, 00:35

13 Signs That You Are Under Too Much Stress

Don't think you suffer from stress, yet you constantly find yourself getting sick? Read on for the signs you may secretly be stressed.

Выбор редакции
17 ноября, 18:32

Will Lowe's (LOW) Register Earnings & Comps Growth in Q3?

Lowe's (LOW) is likely to continue with its top- and bottom-lines growth streak in the third quarter as well.

Выбор редакции
17 ноября, 16:41

T-Mobile US (TMUS) Looks Good: Stock Adds 5.5% in Session

T-Mobile US (TMUS) saw a big move last session, as its shares jumped more than 5% on the day, amid huge volumes.

Выбор редакции
17 ноября, 16:32

Ruble Gains as Oil Falls: The Correlation is Reversed

Yesterday, the ruble managed to keep resistance levels at 60.50 for USDRUB. During the day, the currency pair lost 0.9%, down to 59.68, as oil fell by 1.3% to $61.10 per barrel (Brent). This could be viewed as a clear sign of the Russian currency’s strength, as its movements occurred alongside a decline in oil price. The ruble was seen to decisively lose its dependence on the short-term dynamics of Crude. Essentially, what we saw yesterday was a repeat of the trend observed over the last few weeks, that is, the ruble and oil price moving in different directions. In November 2014, the correlation between USDRUB and oil was close to -0.85, reflecting the very close dynamics between the latter and the Russian currency. In November 2017, this correlation turned sharply positive, exceeding +0.93 last week and reaching +0.8 today. With the correlation reversed, the weakness in oil prices no longer translates into a weakening of the ruble. Rather, the ruble seems to be increasingly reliant on factors such as global risk appetite and Russian economy indicators. Yesterday’s sharp pullback could positively affect how traders perceive the Russian currency, seemingly having approved of the 60.50 level as a particularly strong resistance level. Bulls are also supported by positive global stock market dynamics that demonstrate growth in strong corporate reports. Thus, while the impact of oil prices on the ruble seems to have diminished, the factors that positively affected the Russian Currency on Thursday are likely to support the ruble during Friday trading as well.

17 ноября, 16:31

MEDNAX (MD) in Focus: Stock Moves 13.4% Higher

  • 0

MEDNAX (MD) saw its shares rise over 14% on the day after Elliott Management, a big hedge fund, revealed a 7% stake in the company and said that it seeks to enhance shareholders' value.

17 ноября, 15:36

10-Year/2-Year Treasury Spread Falls To Post-Recession Low

The debate about the value of the Treasury spread for business-cycle analysis is set to intensify in the wake of the latest slide in the difference between the 10-year and 2-year rates. Although the US economic trend remains healthy, the ongoing decline in the yield spread implies trouble ahead, based on this indicator’s historical record. […]

Выбор редакции
17 ноября, 12:47

Spoiling my grandchildren might be bad for them, but I can’t help it | Peter White

Research suggests that indulgent grandparents like me are harming their health. But I’m happy to make my house a rules-free paradise for themSince I became a grandad, the sounds of Friday night have subtly changed in our house. Time was, the coming of the weekend was heralded by the peeling of plastic off pungent chicken madras, the happy snap of a ring-pull from a can of my favourite bitter, and the mournful strains of Coronation Street signalling the switching off of an overworked brain. But since Hannah and Paul came into my life, the soundscape has been markedly different.It goes something like this. Running feet (knowing the sharpness of my hearing, they don’t often bother to creep), cupboard doors being wrenched open, the plunk of the lid coming off the biscuit tin followed by frantic scrabbling, presumably aimed at finding the ones with the most chocolate on them. Then there’s the tearing of crisp packets, then silence will fall for a short while, only to be shattered by the restarting of an Xbox until the next sacking of my kitchen by the Goths and the Visigoths. Continue reading...

17 ноября, 06:47

6 Tips to Help You Get Rid of Belly Fat — Seriously

Sick of having a gut? The bulge around your midsection could be due to stress, food, and the way you exercise. Beat your belly fat with these tips.

17 ноября, 00:34

Alabama GOP reaffirms support for Moore

The Alabama Republican Party issued a statement Thursday confirming that it still supports Roy Moore despite recent sexual misconduct allegations against him.The party's 21-member steering committee met to consider what to do about Moore, the GOP nominee for Senate, in light of a growing number of allegations that he pursued or forced himself on women when they were teenagers and he was in his 30s.“The ALGOP Steering Committee supports Judge Roy Moore as our nominee and trusts the voters as they make the ultimate decision in this crucial race," Alabama Republican Party chairwoman Terry Lathan said in the statement. “Judge Moore has vehemently denied the allegations made against him. He deserves to be presumed innocent of the accusations unless proven otherwise. He will continue to take his case straight to the people of Alabama."Moore has pushed back on the accusations, even as Republican Party leaders such as Senate Majority Leader Mitch McConnell and National Republican Senatorial Committee Chairman Cory Gardner have called for him to withdraw from the race. The controversy has given Democrats an opportunity to win the Dec. 12 special election against Moore in deeply Republican Alabama. Lathan cast Jones as a threat to President Donald Trump and the GOP in her statement backing Moore.“There is a sharp policy contrast between Judge Moore, a conservative Republican who supports President Trump, and the liberal Democrat who will fight and thwart the agenda of our president," Lathan continued. "We trust the Alabama voters in this election to have our beloved state and nation’s best interest at heart. Alabamians will be the ultimate jury in this election- not the media or those from afar.”

Выбор редакции
16 ноября, 21:02

Airbus and Boeing fight for orders

Aircraft industry has seen a sharp decline in deals this year

16 ноября, 20:21

Terrific Tater Tot Recipes That You’ll Love

Prepare delicious meals for your friends and family using these tater tot recipes. French fries might have met their match.

16 ноября, 20:21

Recipes for Foods That Boost Your Brain Power

Scientists have uncovered numerous connections between diet and brain health, suggesting that the food we eat really does affect our mind.

16 ноября, 19:01

US industrial output climbs strong 0.9% in October

US industrial production jumped a solid 0.9 percent in October as factory activity recovered from the impact of Hurricanes Harvey and Irma. The Federal Reserve said yesterday that manufacturing activity

Выбор редакции
16 ноября, 18:58

Guns v money: Fuelled by Middle East tension, the oil market has got ahead of itself

Print section Print Rubric:  Fuelled by Middle East tension, the oil market has got ahead of itself Print Headline:  Guns v money Print Fly Title:  Oil UK Only Article:  standard article Issue:  The army sidelines Robert Mugabe, Africa’s great dictator Fly Title:  Guns v money ONLY one thing spooks the oil market as much as hot-headed despots in the Middle East, and that is hot-headed hedge-fund managers. For the second time this year, record speculative bets on rising oil prices in American and European futures have made the market vulnerable to a sell-off. “You don’t want to be the last man standing,” says Ole Hansen of Saxo Bank. On November 15th, the widely traded Brent crude futures benchmark, which had hit a two-year high of $64 a barrel on November 7th, fell below $62. America’s West Texas Intermediate also fell. The declines coincided with a sharp drop across global metals markets, owing to concern about slowing demand in ...

16 ноября, 18:36

5 Low-Risk Mutual Funds to Buy on Tax Cut Uncertainty

Mutual funds that are capable of offering favorable returns and bear a lower level of risk might be prudent investment options.

16 ноября, 18:02

L Brands (LB) Q3 Earnings Meet, Sales Beat, Stock Down 4%

L Brands' (LB) strategic efforts will continue in 2017. However, this might weigh on the company's performance in the year.