The Retired Investor: Thanksgiving Post-PandemicBy Bill Schmick, 03:55PM / Thursday, November 25, 2021 | |
Consumers are making up for last year's subdued Thanksgiving holiday. Air travel has jumped. Traffic on the roads is expected to be heavy. Grocery stores are crowded, and families are getting back together again all over the country. Hurrah!
As most readers know, last year's holiday was a bit of a dud largely because of the pandemic. Fewer people travelled. Instead, many of us decided to play it safe. Across the nation, family members decided to remain home, avoid the possibility of contagion, and postpone celebrating together until this year. That was a smart decision. In the meantime, the coronavirus cases have declined, vaccinations rates have risen, and America 0 Comments Read More >> |
@theMarket: Market's Week of IndecisionBy Bill Schmick, 11:51AM / Saturday, November 20, 2021 | |
Stocks and bonds traded in a tight range for most of the week. Some stocks were rewarded, while others punished, based on their earnings results. The U.S. dollar hit a series of new yearly highs, and just about everyone is waiting for President Biden's pick to head the Federal Reserve Bank.
That announcement could come as early as this weekend. Chairman Jerome Powell's term will end in February 2022. He is a Republican, picked by former President Donald Trump. He had a somewhat rocky relationship with the ex-president but did manage to maintain the independence of the central bank despite Trump's attempted interference. His track record through the pandemic 0 Comments Read More >> |
The Retired Investor: The Teacher ShortageBy Bill Schmick, 11:46AM / Friday, November 19, 2021 | |
The U.S. labor shortage is hitting the public education sector hard. Yes, COVID-19 and its mutations have had a lot to do with the lack of teachers, but the problem predates the pandemic. In just the last two months, 65,000 public education employees left the industry.
Across the United States, in October 2021, there were 575,000 fewer state and local education employees than in February 2020, according to the latest employment report of the Bureau of Labor Statistics. The pandemic, in some ways, was simply the straw that broke this camel's back.
Stagnant wages, or worse, falling wages, have beset the teaching industry for years. In 2018, for example, 1 CommentRead More >> |
@theMarket: Annual Inflation Hits 30-year HighsBy Bill Schmick, 03:45PM / Friday, November 12, 2021 | |
The stock and bond markets knew inflation was coming. This week's 6.2 percent jump in the Consumer Price Index drove home the fact that inflation has become a fact of economic life, at least for the near future.
The jury is still out on whether inflation will prove to be "transitory" as the Federal Reserve Bank argues and as some economists believe. Others fear that we could be on the verge of something a little more serious. The fear is that the Fed might be forced to raise interest rates if that were the case.
The Producer Price Index (PPI) and the Consumer Price Index (CPI) both came in a little warmer than forecasted on a year-over-year 0 Comments Read More >> |
The Retired Investor: SALT Away?By Bill Schmick, 01:43PM / Thursday, November 11, 2021 | |
High-income tax states like Massachusetts, New Jersey, California, and New York would appear to be winners if President Biden's "Build Back Better" plan is finally passed by Congress. The Trump-era limit on state and local tax deductions could provide a $200 billion (or more) wind fall for wealthy Americans.
As it stands now, congressional Democrats, especially those who represent high tax states, are crafting a change in the SALT deduction cap. Presently American households can only deduct $10,000 of state and local taxes from their federal income taxes. That cap deduction is poised to end by 2026.
In a prior column, I explained that in 1 CommentRead More >> |
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