JP Morgan Chase may have done its part to blow up the U.S. economy a few years back, thanks to irresponsible lending practices, but lately the company and its foundation has been giving big to foster economic growth and improve jobs skills.
Another sad story of how our pension dollars are being given to Wall Street by 1%-subsidized politicians.
I’m one of those people who gets nervous when the market hits new highs amidst what looks like a deteriorating economy for the middle class…but I’ll try not to be a Debbie Downer so, “Happy New Record for the Dow Day!”
Feeling bad for anyone who went long on Whole Foods recently…quite a pullback today.
Herding the incomes of the young into deteriorating assets like housing is a dangerous misallocation of capital and investment. Investing heavily in housing means those incomes are not being invested in productive opportunities in other sectors of the economy, whether that is investment in the stocks of other companies, or individuals starting their own businesses.
I definitely don’t want to harsh on anyone’s mellow about Obamacare, but this is the part that worries me: the bad debt that hospitals are going to take on. This issue is going to have to be reconciled somehow.
The good news: once Obamacare kicks in, out of pocket health costs will be capped at about 6 K for individuals and 12 K for families. The bad news: you could still end up in bankrupcty if you don’t have that kind of money. But I believe most hospitals and health care providers can put you on an extended payment plan.