Today’s Headlines:

• States cleared to charge sales tax on online sales and banks pass first phase of the Fed’s stress tests, wait to hear if they can buy back shares or increase dividends. 

Demographics/Employment

• As baby boomers retire, there are fewer workers to take their places. Who will support them? This WSJ article includes some informative maps.

• The FRB of Atlanta published an article detailing its findings on industries facing a shortage of workers.
• One aspect of low unemployment not previously highlighted is that disability applications have dropped.
• I missed this one last week by Neil Irwin (NYT) discussing what the government might do to facilitate the workforce transition that will need to take place with more automation.
• On a similar topic, could the answer to the rust belt decline be a shift to new economy jobs, rather than restoring lost jobs?
• If IQs continue to fall as reported here, maybe we will need those robots (or come up with a new IQ test.) 

A little bit of everything else

• GE was dropped from the DJIA. GE was the last original member of the Dow.
• Taxpayers aren’t taking advantage of free online tax preparation.
• Banks seem to have returned to their risky behaviors. Remember credit default swaps?
• Remember Cynthia Nixon from Sex in the City? As a candidate for governor of New York, read how she would change NY’s new “free” college tuition plan.
• Here is another “to-do” list to protect your privacy across all media.
• The FRB published this examination of cash use, discussing the future of cash in the United States.
• How much research do you do on charities before giving? This Economist article looks at a social movement encouraging just that to maximize outcomes.
• Flood insurance is not part of your homeowner’s policy. As we enter hurricane season, do you need it?
• Here is another excellent parenting article discussing the devastating impact of high-pressure parenting.

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