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...]
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...]
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...]
Americans Don’t Think Inflation Is Over
Despite a noticeable easing of tensions over inflation on Wall St., Main Street Americans are not convinced that the end of rapid inflation has actually arrived. Bloomberg's Reade Pickert reports: US short-term inflation expectations climbed to a seven-month high in November and longer-run price views remained at levels not seen since 2011. Americans expect prices will climb at an annual rate of 4.5% over the next year, up from the 4.4% expected earlier in the month, according to the final November reading from the University of Michigan. They see costs rising 3.2% over the next five to 10 … [Read more...]
“Inflation Is Killing Me,” He Said, “No It’s…”
“Inflation is killing me,” he said. “No, it’s not,” I said. “You have income coming into your account, a sizable portfolio, and yes, maybe asset prices are off, but the cash flow is solid.” The cost of everything has been up, but now deflation is certainly a risk to consider. What we worry about today often doesn’t come true tomorrow or the next day or year. May we all live long enough to be eaten alive by inflation. You’re still able to put food on the table. The key is to have a plan and stick to it. To look at your overall portfolio yield and how it did through some rough … [Read more...]
How Low Can Home Sales Fall?
Your Survival Guy is watching as existing home sales hit levels last seen during the aftermath of the housing crisis. According to the hopeful economists at the National Association of Realtors (NAR), sales will rise next year by 13.5%, and mortgage rates will pull back to 6% to 7% by Spring. All that remains to be seen. NAR writes: "Builders are back on their feet, up 5% in newly constructed home sales year to date," said [NAR Chief Economist Lawrence] Yun. "Builders can simply create inventory. In a housing shortage environment, builders are really benefiting." He explained NAR's … [Read more...]
Retirement Income: We All Want It, We All…
Retirement income. We all want it. We all need it. How do we get it? Well, dear reader, you’ve come to the right place. Let’s start with bonds. My feeling about them is once you get to age 50 or so, if you don’t already have them, then you need to get some. Your Survival Guy rounded that corner not too long ago, and I have had bonds for years. But I’m probably one of the more conservative investors you’ll come across. I don’t “play” interest rates. I don’t try to predict where they’ll be. I look at what the markets are paying today, and I decide if I like the value proposition. A big part … [Read more...]
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