……………….gold has fallen 8.5 percent since Ben Bernanke started talking about tapering the Fed’s bond-buying a month ago……………
Of course, that’s nothing compared to gold’s looong bear market from 1500 to 1965. As you can see in the chart below from Goldman Sachs (via Zerohedge), it lost over 80 percent of its value compared to inflation-adjusted British pounds over those four-and-a-half centuries.
The “t-word” is Bernanke’s Midas touch. It turns gold back into gold. No longer will the shiny metal offer better returns than companies that actually do and make things; instead, it will just be the money-suck it’s been for centuries on end.
via Gold Was a Horrible Investment from 1500 to 1965 – Matthew O’Brien – The Atlantic.
The death of a parent can sometimes mean financial turmoil for surviving relatives, but advisers say that lingering debts aren’t the responsibility of the adult children in the family.“There is no liability for a child to take on the debts of the parents,”
Debts aren’t transferred by virtue of marriage or death – not without your signature –………………….
For example, if dad passes away but has a credit card bill and an unpaid line of credit in his name only, mom or the kids aren’t responsible for paying them, she said.
“If there’s any money in his estate, his estate has to pay his debts,” Johnson said from Surrey. B.C.
“But if there’s no estate, they just get written off.”
If parents die in debt, do children inherit the bills? Not necessarily – The Globe and Mail.
Posted by Ravi Gulati | Posted in News of Interest | Posted on 08-06-2013
Ontario will cut the number of new teachers who graduate every year in half and increase the length of time it takes them to complete a degree, The Globe and Mail has learned.
The move is aimed at curbing the growing glut of would-be teachers who cannot find work in their field – not only in Ontario, but in several other regions of the country.
Ontario moves to halve number of teachers-college grads – The Globe and Mail.
It’s no surprise that parents want to help. With tuition costs soaring and the job market looking bleak, today’s young adults are more likely than ever to finish post-secondary school burdened with significant amounts of debt. Spending years repaying that student debt will in turn hurt their ability to save for things like getting married, buying their first home, and starting a family.
According to one estimate, Canadians leave school with an average student debt of $27,000. “Currently, a four-year university degree can be expected to cost upwards of $60,000,” the BMO report said. “That sum could rise to more than $140,000 for a child born this year.”
Five ways to save for your child’s education – other than RESPs – The Globe and Mail.