[Post 277] Why The U.S. Won’t Pay Down Its Debt

Summary

The U.S. national debt is nearly $33 trillion as of early September 2023. Every year since 2001, the U.S. government has spent more money than it takes in, which means it has to borrow money to make up for the difference. The national debt is frequently discussed as a danger to future generations, but some economists say there’s no reason to get the national debt down to zero. One reason for that is without the debt, there would be no federal government securities, such as Treasury bonds, which provide investors a safe place to park their money while accruing interest. Most economist warn, however, that there’s a balancing act when it comes to the national debt. Watch the video above to learn more about why the U.S. can’t get a handle on the national debt and whether it even has to.

[Post 276] Where Should You Invest Your Money During A Downturn? | Money Mind | Investment

Summary

What can investors do to recession-proof their portfolio? 

[Post 275] I Became Dad's Caregiver At 29: My Top Tips On Dealing With Dementia

Summary

At 29, Daniel Lim became his family’s sole breadwinner when his dad, Peter, was diagnosed with Alzheimer’s disease while his mum was receiving treatment for breast cancer. Back in 2009, caregiving resources were scarce, and Daniel had to deal with financial woes, loneliness and caregiver’s burnout.

14 years on, Daniel has created a support system that taps on his neighbours, friends and even the neighbourhood barber to help with caregiving responsibilities. He also co-founded Enable Asia, a support group for fellow caregivers.

In this video, Daniel shares the lessons he learnt in 15 years of caregiving and tips on how to make it work. 

[Post 274] 29 years old and already $200,000 in debt... Either get rich or have no future | Undercover Korea

Summary

A lot of Korean 20-somethings are already heavily in debt in their 20s and 30s. They can't buy a house on their income anyway, so they're trying to hit the jackpot in stocks. They don't even realize they're addicted.

[Post 273] How Americans Are Struggling With Car Loans

Summary

More than 100 million Americans have an auto loan and auto loan debt in the U.S. is at a record high of $1.56 trillion. Between the Covid-19 pandemic, supply chain issues, alleged predatory lending practices, inflation, and the Federal Reserve's interest rate hikes, getting an auto loan is getting increasingly difficult and costly. CNBC spoke with Chase Auto and Toyota Financial Services to learn what's happening in the auto loan industry and what consumers can do to make sure they're protected.

[Post 272] How America Plans To Get Teens Back To Work

Summary

Small businesses across America — stores, restaurants, seasonal businesses such as ice cream shops — are still having trouble filling low-level positions, the kinds of jobs that would typically be filled by teen workers.

The labor force participation rate for workers ages 16 to 24 has plummeted over the past 20 years. The Covid-19 pandemic in 2020 caused another big drop in youth workers. There's been a slight uptick in teens returning to work since then, but youth employment rates have yet to rebound from historically low levels.

According to the Economic Policy Institute, the labor force participation rate among 16- to 24-year-olds has fallen from 65.8% in 2000 to 55.6% in 2022. To boost youth employment, lawmakers in at least 10 states have pushed bills to loosen child labor laws and protections to increase youth labor participation.

[Post 271] Where Thousands Of Tech Workers Went After Mass Layoffs

Summary 

Tech companies shed more than 386,000 jobs last year and in the first half of this year. And that number is climbing. But while layoffs have taxed workers, a booming artificial intelligence market is giving the industry a renewed sense of optimism. Generative AI startup deals announced or finalized In the first quarter of this year totaled more than $12 billion compared to about $4.5 billion invested in the space last year, according to PitchBook. Amazon, Alphabet and Microsoft have also made significant AI investments. So how have layoffs impacted tech workers and what will the AI boom mean for their future? Watch the video to learn more.