What happens in the wake of the Supreme Court’s decision? The mandate stands. By a 5-4 vote, the Supreme Court has upheld the core of the 2010 Affordable Care Act. The law’s most controversial provision will stand – the mandate requiring every American citizen to buy individual health insurance coverage.1 The court made a…
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Weekly Economic Update June 25, 2012
WALL STREET FINDS THE POSITIVE IN THE NEGATIVE Moody’s Investors Service downgraded 15 major banks late last week, yet financial stocks rallied Friday – Wall Street was bracing for deeper cuts. Investors also liked a new accord in Europe – Germany joined France, Italy and Spain in support of a €130 billion stimulus plan to…
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The Pros & Cons of ROTH IRA Conversions
What are the potential benefits? What are the drawbacks? The Bush-era tax cuts could sunset in 2013, and that possibility has prompted some traditional IRA owners to think about Roth conversions. If tax rates go up, going Roth may be smart. The key word in that last sentence is “may,” as going Roth may not…
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Weekly Economic Update June 18, 2012
IF GREECE EXITS THE EURO, WHAT COMES NEXT? Best-case scenarios for Greece seemed to fade as the weekend neared. Concerns mounted that Sunday’s special elections would either bring another parliamentary deadlock or a victory for parties opposing scheduled austerity cuts. Some economists maintained that a Greek exit from the euro would not be abrupt and…
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Weekly Economic Update June 11, 2012
IS A FIX COMING FOR EUROPE’S DEBT CRISIS? Last week, global markets rallied on European Central Bank President Mario Draghi’s assertion that risks to the EU economy had increased, interpreting it as a signal that the ECB and other central banks might take swift action to rescue weaker eurozone nations. (Stateside, Federal Reserve Chairman Ben…
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What happens Here If Greece Exits The Euro ?
Another downturn? Or something much less severe? If Greece leaves the eurozone in the coming months, what kind of financial ripples could reach America? Nobody can predict the endgame yet; Greece may even stay in the euro, although that is looking less and less likely. The big concern isn’t what happens in Greece – it…
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If Interest Rates Rise, What Happens to Bonds?
Investors in longer-term Treasuries could see some rocky road ahead. We have seen an epic “flight to safety” this spring. In April alone, $20.6 billion moved into bond funds, according to Lipper. In the same month, $12.7 billion left stock funds (which marked the 12th consecutive month of net withdrawals).1 The price of debt…
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Weekly Economic Update June 4, 2012
IS IT TIME FOR QE3?May’s unemployment report threw Wall Street for a loop Friday. Economists polled by Reuters forecast a payroll gain of 150,000, but only 69,000 new jobs were created. Even worse, part-time positions accounted for all of the increase. The jobless rate ticked up to 8.2% in May, and the Labor Department also…
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Parents, Alzheimers, & Money
Easing into a difficult conversation. Every eighth American aged 65 and older has Alzheimer’s disease, and 43% of Americans aged 85 and older have it, according to the Alzheimer’s Association. Consider those percentages in light of the Social Security Administration’s estimate that about 25% of today’s 65-year-olds will live past age 90. These shocking statistics…
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Weekly Economic Update May 30, 2012
CONSUMER CONFIDENCE HIGHEST SINCE 2007 In a tense week for investors, some promising news emerged: the closely watched Thomson Reuters/University of Michigan consumer sentiment index came in with a final reading of 79.3 for May – the ninth straight monthly improvement. May’s 3.8% gain brought the index to a peak unseen since October 2007. The…
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