Saturday, August 1, 2015
The Weekend Edition is pulled from the daily Stansberry Digest. The Digest comes free with a subscription to any of our premium products.
Another week, another new high for discount retailer Dollar General (DG)...
As we've mentioned before, Dollar General is profiting from a trend that Porter calls the "disappearing middle class."
In short, while there are strong signs the economy is improving, not everyone is benefiting. As we noted in the December 10 Digest...
While this trend is terrible for working middle-class Americans, it has been great for stores that sell everyday goods at low prices (like Dollar General).
Shares of Dollar General broke out to new 52-week highs in June, and have continued higher since. The stock closed at a new all-time high earlier this month...
But this trend isn't just making it harder for everyday Americans to make ends meet...
It's also pushing the long-term dream of retirement out of reach for more and more folks. And a recent report from the U.S. Government Accountability Office ("GAO") shows just how bad things are getting...
According to the report, titled "Most Households Approaching Retirement Have Low Savings," 50% of households with members aged 55 or older don't have a retirement savings plan (such as a 401(k) or IRA). And 29% have no savings at all.
Among those who do, the news isn't much better. From the report...
As Charles Jeszeck, the GAO's director of education, workforce, and income security told CNBC, "There hasn't been a significant increase in wages, people have student loans and other debt, and many are continuing to struggle financially. We aren't surprised that people have not saved a lot for retirement."
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Date Range:7/23/2015 to 7/30/2015
Date Range:7/23/2015 to 7/30/2015