Week of December 2nd, 2013

I have been unemployed or underemployed for several years now. I'm ineligible for unemployment and not likely to be hired anytime soon. I am 54 years old and own a home with an adjustable-rate mortgage. The monthly mortgage payment is far lower than rent would be if I were to move. I also have some money in a 401K retirement account. The sad fact is that I need money for living expenses, and that means either sell stock from my 401k or sell my home. But I have no idea how to quantify which of these bad options is worse. Can you help?

My husband and I are both public school teachers. We have 403b retirement accounts, state-supported teacher retirement system pensions, and other savings accounts, including a 529 plan for our 12 year old child. It seems to me that we are putting a significant amount of money into these accounts, but have little left over to spend on things we can enjoy now such as family vacations. How do we know how much to save without compromising our current quality of life? I would like to be able to enjoy life more now, not save everything for the time when we retire. I do not want an extravagant lifestyle, I'd just like to enjoy our time together as a family while we still have it. Thank you, Jill Hanson

Financial resolutions, cutting back frivolous spending and big student loans. Must be another round of Ask Carmen!

The BBC's Buntu Williams on Nelson Mandela's economic legacy in South Africa.

Gifting stocks, retirement account tax implications and 529s. Carmen tackles them all in rapid-fire for this month's lightning round.

You got $95,000 in Bitcoin?

The unemployment level has fallen to 7 percent for the first time since 2008, after the Labor Department release surprisingly strong jobs data for November. That news comes less than a month before unemployment benefits run out for more than a million Americans. Plus, the ability of businesses to track your every move has taken a leap forward today as Apple activated tracking beacons in its stores, the latest retailer to enable micro-location technology. And finally, hospitals get penalized for readmissions, so now instead of readmitting Medicare patients quickly, they are “observed” for as long as two days. That way the hospital doesn’t risk getting fined … and Medicare doesn’t pay.

Heidi Moore from the Guardian and the Wall Street Journal's Sudeep Reddy join host Kai Ryssdal to look back at the week's business news and forward at where the economy is going after today's jobs report.

This weekend on Marketplace Money, host Carmen Wong Ulrich explores the psychology of self-control leading up to the time of year when people make resolutions – financial and otherwise. She’s joined by Maria Konnikova, author of the forthcoming book “Mastermind: How To Think Like Sherlock Holmes” to talk about willpower, determination and rewards. CBS News Business Analyst Jill Schlesinger also joins the program to help answer listeners’ questions about personal finance, plus Carmen digs into the topic of financial gifts in a special “Lightning Round” of Q&As. Also, we check back in with a former guest who had $1,000 riding on a weight loss competition to see what the outcome was.

I have about a quarter of my retirement money with a financial advisor who charges the following: The advisor gets 1 percent of assets under management; 0.2 percent goes to the third-party custodian; 0.3 percent goes to the company that decided the asset allocation that was set up, based on my age, answers to questions about risk, volatility. Now I find out there is an expense ratio for the ETFs; as well as the costs of commissions when buying and selling the ETFs to rebalance, as well as something called the bid/ask spread. I am thinking of moving this money to Vanguard. 

Kanye West is seeking investors for a new agency he's created. But so far, potential investors are just interested in meeting with him, not giving him money.

South Africa is one of the most unequal countries in the world in terms of income distribution, and the differences often fall along racial lines.

President Obama revealed this week that he isn't allowed to have an iPhone. The Secret Service makes him stick to a BlackBerry.

The unemployment rate hit a 5-year low, with 203,000 jobs added in November. And, a look at how divestment helped stop apartheid in South Africa.

Why is it so hard to make, let alone keep, a financial resolution?

At a VA hospital in New York, veterans are being treated for post-traumatic stress disorder inside a virtual reality simulator.

Unemployment benefits could become a major sticking point in negotiations over a budget compromise.

Apple activated tracking beacons in its stores, the latest retailer to enable micro-location technology.

Instead of admitting Medicare patients quickly, hospitals are "observing" them for as long as two days.

The unemployment level has fallen to 7 percent for the first time since 2008. But people are still suffering.

In 1982, the University of Maine became one of the first 10 universities in the country to completely divest from South Africa.

New calculations on the contribution that arts and culture make to GDP reveal a larger impact than tourism.

The divided economy that Nelson Mandela had to confront in South Africa.

Innovative job screening platforms that include video interviews may solve some of the concerns with ubiquitous electronic screening systems.

1 billion, $.007, 200 million, 13 years, 3 months, 2 million, 2, 2 years, 20-30, 100 percent. Do you know what these numbers mean?

Nelson Mandela, the man who lead South Africa to end apartheid and served as an inspiration to many around the world, died yesterday at 95. His death is a reminder of how economics can be a tool of oppression as well as a tool of liberation. The government’s official jobs numbers are out this morning. With unemployment in the U.S. still over 7 percent but new jobs being created at a slow but steady clip now, there are lots of people applying for virtually every position advertised. Most of these applicants are screened by a computerized “applicant tracking system.” But some applicants are being left out and companies are trying to put the human touch back into the screening process. 

Marketplace Tech concludes our Mind Games series this week with another look at the intersection of video games and mental health. You may remember yesterday we went to University of Southern California, where they’re building virtual reality programs for soldiers with post-traumatic stress disorder. Today we’re going to a VA hospital in New York City where these programs are being administered.

Victims of Madoff's scheme are still struggling to adjust to their financial losses — and also their loss of trust.

Well that's nice of us.

Why New Year's resolutions are like candy.

New York Mayor Bill de Blasio has appointed former Los Angeles police chief Bill Bratton as head of the NYPD. Why is it that the list of top candidates for the top policing jobs in the U.S. is such a short one? The same candidates seem to reappear time and time again. Plus, a deal to avoid another government shutdown seems to be coalescing around increasing revenues – but not taxes. The government would bring in additional money through user fees. And finally, revised GDP numbers juiced the market today, but the reality behind the data should give us pause. The number’s big because inventories were high last quarter.

The Federal Reserve has been creating money to the tune of about $85 billion dollars a month. But the first time a central bank tried to do that…it didn't go over so well.

One legacy of Mandela's fight against apartheid is activism in the U.S. against inequities in the global economy.

Plus a QUIZ: Which character from Anchorman do you think should co-host with Kai?

Fast food workers across America are striking today, asking for $15 an hour. More dry counties have been phasing out Prohibition-era laws, in part to attract more businesses. And, the GDP doesn’t count volunteer work at all, and that includes unpaid care-giving for a sick loved one. But with such high costs for elderly home care, there’s often no alternative

The National Security Agency is collecting almost 5 billion cellphone records daily from around the world, meaning the NSA is tracking individuals movements in ways previously unknown.

As New Orleans and its economy attract more college-educated residents, gentrification comes to once-poor neighborhoods on high ground.

A deal to avoid another government shutdown seems to be coalescing around increasing revenues — but not taxes.

Revised GDP numbers juiced the market today, but the reality behind the data should give us pause.

New York Mayor-elect Bill de Blasio has appointed former Los Angeles police chief Bill Bratton as head of the NYPD.

Virtual reality simulations are being used to treat soldiers with a kind of therapy that predates the technology.

China's central bank officially barred Chinese banks from offering services connected to the virtual, digital currency Bitcoin. The government also issued a new set of regulations for Bitcoin exchanges in China.

The Gross Domestic Product doesn’t count volunteer work at all, and that includes unpaid care-giving for a sick loved one. But with such high costs for elderly home care, there’s often no alternative, as Marketplace’s Chris Farrell says.

Fast food workers across America are striking today, asking for $15 an hour. Their employers may not be sympathetic to their cause, but they have a friend in the White House.

More dry counties have been phasing out Prohibition-era laws, in part to attract more businesses.

The question for hospital executives in Camden, N.J., and around the country, is how to manage a new wave of patients.

From smart phones to solar panels, tech equipment uses a lot of metals that don't have a good substitute.

Today, China’s central bank officially barred Chinese banks from offering services connected to the virtual, digital currency Bitcoin. The government also issued a new set of regulations for Bitcoin exchanges in China. And, as federal health care reform unfolds, Marketplace continues to follow the city of Camden, New Jersey to see how the new law affects one community. Today, we visit to Cooper University Hospital, which is expecting a surge of patients starting next month, as millions of people get health insurance, some for the first time. The question for hospital executives is how to manage this new population. The answer: Take a page from the airline industry.

Today, lawmakers in the House are voting on a bill that could fight the growing problem of patent trolls. Some estimates put the annual cost of patent lawsuits at $80 billion. The Innovation Act could help put a dent in that. It has support from tons of tech companies. In an ever-updating society where consumers are constant targets of tech marketing, it’s no wonder we’ve developed quite an appetite for replacing the old with the latest and greatest. But a new study from Yale University out this week says a lot of the precious ingredients of our consumer technology is kind of irreplaceable. And, in today’s Mind Games, how video games are being used to treat PTSD.

Be careful. You don't want to immediately regret your decision. Kai is watching.

President Obama wants to raise the minimum wage. Good idea?

Aluminum or aluminium? Either way, it's useful.

You think holiday shoppers in the U.S. are crazy? You ain't seen nothing.

Now that regulators are close to deciding on the Volcker Rule, conventional wisdom has shifted from “it will be so weak as to be useless” to “it will be tougher than expected.” But what is the rule? Also, the credit rating agency Experian says Americans are taking out bigger car loans and are taking longer to pay them back. We look at what’s behind the return of easy automotive credit, and whether we’re again on the slippery slope of subprime lending. Finally, Newsweek is to be revived, in print.

Most charities use in-house staff to raise their money. But some rely on for-profit telemarketing to get it done. A new investigation reveals the deception and corruption behind this billion dollar industry.

The credit rating agency Experian says Americans are taking out bigger car loans and are taking longer to pay them back.

Newsweek is to be revived, in print.

Regulators are close to deciding on the Volcker Rule to limit banks' speculative trading.

After some false starts, private rocket maker SpaceX launched a rocket carrying a large commercial satellite into outer space yesterday.

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Regulators have announced that, after years of wrangling, they are finally set to finalize the details of the so-called Volcker Rule. If you’re between the ages of 62 and 70, you’re eligible for Social Security. But when should you take it? And, for one day, Emerson College's communication school will be renamed the Ron Burgundy School of Communication.

U.S. regulators have announced that, after years of wrangling, on December 10 they are finally set to finalize the details of the so-called Volcker Rule.

Join Marketplace Morning Report's David Brancaccio and KQED's Scott Shafer for a special event at the Nourse Theater in San Francisco.

New gaming technology could change the way autistic children learn social communication.

If you’re between the ages of 62 and 70, you’re eligible for Social Security. But when should you take it?

The European Commission has hit a half dozen big banks, including Deutsche Bank and JPMorgan Chase, with a record $2.3 billion fine for colluding to rig two benchmark lending rates that set the price of money between banks

You can now use your smart phone to order and pay at some restaurants.

For one day, Emerson College's communication school will be renamed the Ron Burgundy School of Communication.

This holiday season there are more kinds of gadgets for kids — and many more ways for parents to control access.

A half a dozen big banks like Deutsche Bank and JPMorgan have been hit with a record $2.3 billion dollar fine from the European Commission for colluding to rig two benchmark lending rates that set the price of money between banks — something on which they were supposed to competing. How do you know when to start collecting Social Security? And, if you have missed fake newsman Ron Burgundy this week, you are living under a rock. The character played by Will Farrell has been everywhere promoting his new movie, “Anchorman 2” — hawking Dodge Durangos, anchoring a real North Dakota newscast, and at Emerson College, where one of the actual schools will be renamed for him for a day.

The city council in New York is considering the same restrictions for e-cigarettes that already exist for regular cigarettes.

Electronic cigarettes are getting more popular all the time. Which may be why more places are starting to put more restrictions on the technology. Today in New York, the City Council is considering whether to restrict e-cigarettes just like regular cigarettes–banning their use in offices, in restaurants, and on beaches. The more technology kids interact with, the more adults want to set some controls on that interaction. New options do abound. One of the latest from a company called FiLIP: a smartwatch that lets parents control who the kid calls, among other things. And, the latest Mind Games, Marketplace Tech’s series on video games and mental health.

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Notice an abundance of peppermint and eggnog flavored foods at the grocery store this time of year? Here's why.

A final note in which you lose a little faith in humanity.

Dow Chemical says it’s getting out of the commodity chemical market so much that it may drop ‘Chemical’ from its name. Overseas competitors can produce these chemicals much more cheaply. And so will pass from U.S. manufacturing a class of products without which life is hard to imagine.  Ziploc bags. Nylon (in DuPont’s case). Then, sales of pickup trucks helped the Big Three U.S. automakers beat analysts’ expectations for November sales. We look at how those sales figures play out in the U.S. job market, and whether workers have been recalled to build those vehicles.  

Not a comfortable spot to be in.

For George Alvarez, the decision to apply to Johns Hopkins was a "happy accident." Most low-income, high-achieving high school students don't apply to any selective colleges.

Sales of pickup trucks helped the Big Three U.S. automakers beat analysts’ expectations for November sales.

Dow Chemical says it’s shifting away from the commodity chemical market so much so that it may drop 'Chemical' from its name.

Stores are counting receipts from the four-day shop-o-rama.

Young Americans, between the ages of 16 and 24, have been hit awfully hard by the financial crisis.

The Consumer Financial Protection Bureau wants to expand its supervision of student loans to those servicers that operate outside of the banking system.

Video games can help people on and off the autism spectrum interact physically and socially.

Japan’s government debt equals about 230 percent of its gross domestic product.  To raise money to pay that down, the government will increase the national sales tax to 8 percent. Paying off massive debt seems prudent, but to avoid slowing the economy with the higher taxes, Japanese officials in the next day or so will […]

Now that top science channels get hundreds of millions of views on YouTube, there's potential for savvy scientists to earn big money.

A judge in Detroit is scheduled to decide if the city is eligible for bankruptcy protection, which it filed for back in July. Plus, native ads are ads that don’t look like ads. They blend in with the main content of the site, like a promoted Tweet from Samsung about its new or an article about a miracle weight loss drug on a news site. This week, the Federal Trade Commission is hosting a meeting about native advertising. Finally, the Great Recession dealt a cruel blow to young people who were trying to break into the workforce at the time. Many faced long stretches of unemployment. Of those who did find jobs, they made less, and will continue to make less for years.

This week we’re looking at the intersection of video games and mental health. Yesterday we talked to a game designer; tomorrow we’ll talk to a researcher. Today we’re going to hear from an occupational therapist. Amanda Foran works with children and adults who are on the Autism spectrum at Motion Therapy in Rockville, Md. She’s found that video games — played by both people on and off the spectrum — can help build social interaction skills.

There are fewer banks today than at any other time in U.S. history.

The judge ruled that Detroit will have the protection of bankruptcy court as it seeks to get out from under its debts.

The biggest merger of them all might not involve any companies. We're talking nations here.

Amazon wants to use unmanned “drone” aircraft to fly products to customers in 30 minutes or less. It sounds great, but how realistic is the proposal? Next, the administration says the front end of healthcare.gov is up-and-running, so now developers will start to focus on the back-end connection to the insurers. Finally, a gauge of the global economy: The purchaser’s management index in most countries is up…but only just. It’s evidence of a nascent recovery in the global economy, but political unrest in some countries, combined with the prospect of tapering, has some economists worried. 

Twelve drummers drumming, six geese-a-laying and one partridge in a pear tree. What does it all add up to?

Security at the Mall of America arrested Serge Vorobyov on Friday afternoon for throwing $1,000 in $1 bills off a balcony at the mall.

Pink slips were falling like flurries of December snow, and amidst all this gloom bosses around country announced that there would be no holiday work party.

I am 35 years old and only began saving for retirement this year through a combination of a 401k and Roth IRA. I would really like to return to school in three or four years to get a double-Masters in economics and finance, taking off one year to study Chinese in China. I know that I will earn twice as much once I complete my degrees as I earn now, but I am concerned about stepping away from full-time work and benefits for five years while only taking part-time jobs or internships in my new field. While I am in school and traveling, although I will be able to support myself financially, I won't be saving for retirement. Can I really afford to go back to grad school to make more money? August Mileaux