American households are the least prepared they've been in a decade to cover an unexpected $2,000 expense. That's a sign that inflation and slow wage growth have hurt the ability of Americans to save. Bloomberg's Alexandre Tanzi reports: The ability of US households to cover an unexpected $2,000 expense is at the lowest level in a decade, the Federal Reserve Bank of New York said. Only 65.8% of surveyed households said they would be able to come up with $2,000 if an unexpected need arose within the next month, according to the NY Fed’s latest survey of consumer expectations and credit … [Read more...]
Biden’s Inflation Blame Game
First, it was the "Putin price hike," now Biden is blaming inflation on corporate greed, an old and tired excuse. CNBC reports: President Joe Biden took aim at corporations Monday for charging prices he said were artificially high even though the rate of inflation has slowed and some shipping costs have fallen. “Any corporation that has not brought their prices back down, even as inflation has come down, even as the supply chains have been rebuilt, it’s time to stop the price gouging,” Biden said at the launch of a new White House supply chain initiative. “Give the American consumer a … [Read more...]
Are Investors Ready to Pounce?
Investors waiting to pounce? Not buying it. They finally have rates they can sink their teeth into. They’re in no rush to take on more risk. At least, that’s not what they’re telling me. In The Wall Street Journal, Jack Pritcher suggests investors are looking for more risk. He writes: Stocks and bonds have surged in November. With record investor balances in money-market funds, some analysts are optimistic that they have more room to run. Everything from technology stocks to junk-rated company debt has been rising after an encouraging inflation report reinforced bets that the Federal … [Read more...]
Disney Signals Problems with the ESG Agenda
You have read about Disney's war against Florida Gov. Ron DeSantis and parental rights. Now, it appears that Disney is realizing the error of getting involved in America's culture wars in order to boost its ESG rankings. Johnathan Turley writes in The Hill: In recent filings, Disney appears to acknowledge that Smith’s invisible hand is giving the “House of Mouse” the middle finger. In a new corporate disclosure, Disney acknowledges that its controversial political and social agenda is costing the company and shareholders. In its annual SEC report, Disney acknowledges that “we face risks … [Read more...]
Biden Gave Americans 10 Years of Inflation in Only 3
Americans have endured a decade's worth of inflation during the three years Joe Biden has lived in the White House. Bloomberg's Reade Pickert and Jennah Haque report on the cost-of-living squeeze Americans are suffering through today, writing: After years of inflation, US consumers are shouldering a burden unlike anything seen in decades — even as the pace of price increases has slowed. It now requires $119.27 to buy the same goods and services a family could afford with $100 before the pandemic. Since early 2020, prices have risen about as much as they had in the full 10 years preceding … [Read more...]
Happy Black Friday
You know how Your Survival Guy feels about money: save a third, spend a third, pay taxes with a third. Well, today, let’s focus again on the spending. One of the best ways to keep you motivated and in the game is to take some trips every now and then. Your Survival Guy and Gal just got back from Anguilla, celebrating our 25th anniversary. It wasn’t cheap, but it had also been 25 years since we were last in the Caribbean. That’s a long time. You know there’s plenty of bucket trips you want to take. Now is the perfect time to start making it happen. Action Line: Enjoy … [Read more...]
Which Jimmy Buffett Album Is Your Favorite?
This year, America lost one of its best-loved musicians, Jimmy Buffett. Over his career, Buffett released 32 albums, and Al Shipley at SPIN Magazine has ranked them, writing: Shortly before his death in September at the age of 76, Buffett finished his 32nd studio album Equal Strain on All Parts, backed by his longtime Coral Reefer Band as well as guests like Paul McCartney and Emmylou Harris. Where does the album rank among the highlights and lowlights of Buffett’s massive discography? SPIN's ranking is: 32. Somewhere Over China (1982) 31. Hot Water (1988) 30. Banana … [Read more...]
More Americans than Ever Own Guns
You have probably heard the phrase "voting with your wallet." When it comes to the Second Amendment, that's exactly what Americans are doing. More Americans own guns than at any time since polls began back in 1999. Today, 52% of Americans report owning a gun or living in a household that owns a gun. Alexandra Marquez reports for NBC News: More than half of American voters -- 52% -- say they or someone in their household owns a gun, per the latest NBC News national poll. That's the highest share of voters who say that they or someone in their household owns a gun in the history of the NBC … [Read more...]
Happy Thanksgiving!
When the pilgrims of the Mayflower landed, many of the men signed the Mayflower Compact, which read: In the name of God, Amen. We whose names are underwritten, the loyal subjects of our dread Sovereign Lord King James, by the Grace of God of Great Britain, France, and Ireland King, Defender of the Faith, etc. Having undertaken for the Glory of God and advancement of the Christian Faith and Honour of our King and Country, a Voyage to plant the First Colony in the Northern Parts of Virginia, do by these presents solemnly and mutually in the presence of God and one of another, Covenant and … [Read more...]
Preparing You and a Loved One for Thanksgiving
Your Survival Guy’s here to help you prepare for Thanksgiving dinner. Not with the turkey, stuffing, or desserts but with the conversation. We all know the third rails of holiday conversation: religion, politics, and money. And not in any particular order. I think politics and religion have worn everyone out and are only brought up in safe spaces like away from the kitchen when you can say how you really feel or not. But not money. Money talk is thrown all around the table like dinner rolls. “Can you believe this economy?” “I’m buying…” “Looks like interest rates higher for … [Read more...]
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