The US Mint last year paid about 2 cents to produce and ship each penny it created last year. So can we start saying “a penny saved is two pennies earned”?
A recent survey by the America Saves and the American Savings Education Council finds only about 50% of people say they have good savings habits.
A survey by the Employee Benefit Research Institute finds 57% of people have less than $25k in savings and investments, when their home and pension benefits are excluded. In addition, only 50% said they could cover a $2,000 cash need if an unexpected issue surfaced in the next month.
The ABA (American Banker’s Assoication) reports heavy competition for loans and improving credit quality has led banks to ease C&I underwriting guidelines for mid-sized and large businesses in 12 of the last 13 quarters and for small businesses in 10 of the last 11 quarters.
Identity theft once again tops the list of complaints received by the FTC. Of the more than 2mm complaints received in 2012, 18% were related to identity theft.
YouTube reports the number of unique users visiting the site each month has now surpassed 1B. That is a lot of cat and fail videos!
About 86% of all student loans outstanding are backed by the federal government. According to TransUnion, the 90+day delinquency rate for loans backed by the federal government is over 12%.
The Census Bureau reports the percentage of households that had some form of debt declined to 69% in 2011 from 74% at the end of 2000. Median household debt increased to $70,000 from $50,971 during the same period.
For the first time in history, China surpassed America as the world’s biggest oil importer at the end of 2012. America’s dependence on foreign oil has declined recently, driven by higher shale oil extraction.