9 August 2018 FT — Articles to Read

9 August 2018

 

Question: According to MSN:Money, what are 10 things to do if you’ve been a victim of identify theft?

 

China slaps duties on $16bn of US goods – Pg. 1

–        China to impose 25% duties on $16bn of US goods including oil products, steel and cars, …

–        The announcements mean that $100bn worth of bilateral trade will be subjected to duties, since the two sides imposed tariffs on $34bn of each other’s goods last month

–        The US says its own latest tariffs are part of its response to “China’s unfair trade practices related to the forced transfer of American technology and intellectual property”

–        The tit-for-tat has done little to curb Americans’ appetite for Chinese goods.  The dollar value of China’s exports to the US rose 12.2% in July compared with a year earlier, …

–        Beijing’s trade surplus with the US fell only slightly in July to $28.09bn from a record $28.97bn in June, largely due to a 27.3% jump in Chinese imports from the US

 

Ageing societies – Pg. 7

–        …The 100-Year Life first appeared in mid-2016, the book about longevity and societal change sold only modestly in the west

–        [Japan]…where 27% of the population is over 65, half is over 50 and deaths have exceeded births for more than a decade, ….

–        …Japan has embraced the idea of the 100-year life as an overarching policy directive

–        In 2017, consumption expenditure rose most strongly in the over-59 group

–        …by 2025, when the immediate postwar baby boomers turn 75, social security expenditures will surge under a scheme in which patients become responsible for a smaller ratio of their medical costs as they get older

–        Fifty years ago Japan had just 327 centenarians; in 2017 it had 67,824, and the largest per capita ratio of them in the world

–        (Prof Note: Outliving one’s wealth is a SERIOUS problem/consideration.   When I was talking with Bill Hudnut about his wealth planning, he was 25+ years older than his wife, and he wanted to provide for his wife it was difficult.  He lived a long life to 80+ but then needed his wealth to last another 25 – 40 years.  It was/is difficult!)

 

Answer: (1) Pick up the phone (Prof Note: Notify your bank(s)); (2) Inform the credit bureaus; (3) Find all inaccuracies; (4) Get the Federal Trade Commission involved; (5) Get back-up; (6) Close all accounts you did not create; (7) Repair your credit report; (8) Keep the watch dogs out longer; (9) Fix the breach; (10) Stay on top