Here's our latest collection of interesting reads on investing, the economy, and personal finance.
- U.S. economy plunges at titanic 32.9% rate in 2nd quarter and points to drawn-out recovery (MarketWatch). Consumer spending, the main engine of the economy, contracted by a record 34.6% annualized clip.
- Average U.S. mortgage rate breaks the 3% threshold again (Housing Wire). And the 15-year fixed rate is near 2.50%.
- 14 Social Security tasks you can do online (Kiplinger via Fidelity). Because of COVID-19 restrictions, Social Security offices aren't open for face-to-face services. But many routine SS matters can be handled online.
- Goodbye, Nelnet — everything you need to know about the federal student loan overhaul (The Simple Dollar). The U.S. Department of Education is making changes to the student loan servicing system.
- U.S. Mint asks for help getting coins back in circulation (CNBC). Check your dresser and under your couch cushions.
And from the bloggers and pundits...
- A newfound appreciation for risk (Brendan Mullooly, Your Brain on Stocks). "Given the lightning speed with which we've seen the market both decline and recover in 2020...[investors have] the perfect chance to realign their portfolios based upon a newfound appreciation for what risk is."
- The permanent portfolio (Michael Batnick, The Irrelevant Investor). As you may know, SMI's DAA strategy is based on the "permanent portfolio" (but we've made what we think are significant improvements).
- Why is gold rising? (Ben Carlson, A Wealth of Common Sense). The reasons are several.
- It's almost as if stock prices anticipate the future (Josh Brown, The Reformed Broker). Don't ignore market trends, even if they don't seem to make sense.
- The ugly scramble (Morgan Housel, Collaborative Fund Blog). This post makes an implicit and compelling argument for maintaining a robust emergency-savings fund.
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