Watch the Declining Dollar
High stock market prices have fooled many people into thinking that the economy is doing just fine, even though that’s not really the case. Economic productivity is still only increasing slightly. And the lowering unemployment rate is more the result of people continuing to leave the workforce than it is the result of the creation of new jobs. For...
Today’s Americans May Be Worse Off in Retirement Than Their Parents
One of the greatest benefits of the post-World War II economic boom was that many workers became so well off that they could retire comfortably once they reached their golden years. The days of living paycheck to paycheck and having to work into old age until no one would keep you employed ceased to become a reality for millions...
Meet the New Boss, Same as the Old Boss
President Trump recently nominated current Federal Reserve System Governor Jerome Powell to be the next Chairman of the Fed’s Board of Governors, replacing Janet Yellen when her four-year term expires. It’s a puzzling move for a President who was elected based on popular anger at the Washington establishment, and who promised to drain the swamp. As Powell’s nomination demonstrates,...
Changes Could Be Coming to Your 401(k) Plan
The Republican tax reform bill has finally been introduced in the House of Representatives, allowing us finally to see what could be in store for us in the future. A much higher standard deduction, fewer tax brackets, and significant changes to tax credits have garnered many headlines. Less well-appreciated are the changes that could be coming to 401(k) plans...
Personal Savings Rate Reaches Lowest Level in a Decade
The personal savings rate in September reached its lowest level since 2007. And while it hasn’t reached its all-time low, the trend is definitely downwards. Personal savings are now at 3.1 percent of income, still slightly higher than the 2.5 percent low reached in December of 2007. Looking back at historical savings data since 1960, the savings rate had normally...