Tag: economy
Zoomers Aren’t Waiting for a College Degree to Secure Their Financial Future
Americans born between 1997 and 2012, otherwise known as Gen Z or zoomers, appear to be in a hurry to make money. After witnessing millennials drown in debt over college, 67% of zoomers say their top concern is being able to afford higher education. Furthermore, one in every five zoomers say they want to...
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Most Millennials Live Paycheck to Paycheck. Financial Literacy is Key to Their Freedom
Millennials are on a tight budget, even those making six-digit figures.  According to a new survey by PYMNTS and LendingClub, 70% of millennials are living paycheck to paycheck. Most baby boomers, on the other hand, are living the life, with only 40% claiming they are in the same conditions.  In its analysis of the...
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The Biden Budget: Pandemic Spending That Never Ends
President Biden released his first budget proposal on Friday, May 28, 2021. Just ahead of the Memorial Day Holiday weekend. That wasn’t a mistake. The timing is part of a well-established practice by politicians called a Friday news dump. If they know the news is bad for them, they dump it on Friday, when...
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Inflation Facts
Widely reported in the financial news, inflation skyrocketed in March–the Consumer Price Index was up 0.8% in just one month. Year over year, the inflation rate from March 2020 to March 2021 was 4.2%. Many people have told me they think those figures are understated from their own shopping experience, but I’m taking all...
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Fed Chief Says U.S. on Unsustainable Fiscal Path
Do the U.S. national debt and the government’s budget deficits matter? If you listen to the economists shaping the Biden administration’s policy agenda, they say they do not. Their basic argument is that with interest rates so low, the government can borrow as much as politicians want to spend. They think they never have...
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Who Is Paying for President Biden’s Spending?
When President Joe Biden was sworn into office on January 20, 2021, the U.S. government’s total public debt outstanding stood at $20,751.9 billion. The chart below shows who Uncle Sam borrowed all that money from on that date:
Are We Witnessing the Beginning of the Covid-19 Ratchet Effect?
Nearly 13 months after the first confirmed Covid-19 infection in the US, President Biden held a memorial as the country surpassed 500,000 deaths attributed to the pandemic. Mourning a great tragedy, President Biden noted these casualties surpass the lives lost during WWI, WWII, and the Vietnam War combined. While alarmingly high fatalities signify a...
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Thomas Sowell on Truth and Proportionality
“Even the best things come to an end,” wrote Thomas Sowell in late 2016, as he shut down his newspaper column in order to “spend less time following politics and more time on my photography.” Four years later, when he turned 90, the economist and Hoover Institution fellow was back with Charter Schools and...
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Venezuela Goes Digital–It Won’t Fix the Problem
Venezuelan President Nicolas Maduro recently announced that the country will be moving toward a “fully digital” economy. The South American nation has struggled in recent years with rampant shortages of staple goods, civil unrest, and hyperinflation. According to the opposition-controlled National Assembly, consumer prices rose more than 65 percent in November, placing the interannual...
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To Live and Dine in L.A.
Los Angeles County Supervisor Sheila Kuehl believes “outdoor dining is probably more dangerous in terms of contagion than any other kind of business,” so on November 30 she voted to uphold a ban on outdoor dining in the county. Hours after casting her vote, Supervisor Kuehl dined outside at the upscale Il Forno Trattoria...
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