Archive for January 6th, 2018

One lucky winner in Florida will take home Friday's jackpot. But the final prize will be much less after taxes.

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<p>U.S. stocks have been on a tear, with major averages setting records for both strength and low downside. However, the benefits of that for investors aren’t as broad-based as one may expect, meaning the advances in the market aren’t making a difference for most Americans.</p>

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<p>When it comes to investing their retirement savings, investors have had it easy in recent years. Last year, U.S. stocks gained nearly 22%, which is about double the historic average. And since the beginning of 2009, the year the market bottomed out in the wake of the financial crisis, equities have gained an annualized 15%.</p>

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<p>Speculative fervor makes the cryptocurrency clumsy for commerce.</p>

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Hurricanes, fires and floods drove insurance payouts to $135 billion last year.

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Attorney General Jeff Sessions' decision Thursday to scrap an Obama administration policy that offered legal shelter for state-sanctioned marijuana sales does not necessarily mean a wave of federal drug busts. But it could crimp California's budding marijuana industry in another way: cutting its already-tenuous access to the financial system. Most banks and credit unions won't accept deposits …

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<p>Robert Mugabe impoverished the nation’s 14 million people with a series of perverse economic experiments. This is the painful way forward.</p>

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As we begin a new year, it’s worth reflecting on the paradoxical and frustrating nature of progress. Progress is often disappointing, because even when it indisputably occurs (as it often does), it spawns new problems or reveals that old problems were underestimated in their complexity or inertia.
Gains are forgotten and taken for granted. They become part of society’s norms, no longer celebrated because their existence is assumed to be permanent. Meanwhile, younger generations focus attention and discontent on new disputes and conflicts, as if the earlier advances had never…

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There were two big money-and-politics stories in the first week of the new year: The Dow Jones soared 577 points and Steve Bannon ended his political career.
Are these two events related? Perhaps more than you might think.
Bannons peculiar notions of populism were essentially anti-growth. He believed higher taxes, ultra-protectionism, and a cheap dollar would help the middle class. Supply-siders like me know these policies only damage the economy, with the middle and lower classes suffering the most.
And though Bannon was pushed out of the White House months ago, he apparently still had…

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Cable and satellite TV providers are ringing in the new year with an unwelcomed gift: higher cable bills.

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You're not going to win. *Checks jackpot.* Well, maybe just one ticket.

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The Powerball and Mega Millions lottery jackpots are worth over $1 billion combined.

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Billionaires Ted and Rae Segerstrom exhibit their collection of 85 rare classic cars.

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