The latest readings on U.S. gross domestic product for the second quarter, saw the American economy contract at a slightly slower pace than was previously reported, but the data shows that it still remains in a technical recession. An increase in interest rates caused by 41-year high inflation, curtailed U.S. consumer spending growth in the first half…
America’s Economy Fell Into a Technical Recession, New GDP Data Confirms
How Major US Stock Indexes Fared Thursday Aug. 25, 2022
Stocks are closing higher on Wall Street, clawing back more of their recent losses, as the countdown clicks closer to zero for a highly anticipated speech about interest rates. The S&P 500 rose 1.4 percent Thursday. Stocks have wavered between gains and losses since tumbling Monday to their worst day in months, as traders hold…
Closing Prices for Crude Oil, Gold and Other Commodities (Aug. 25)
August 25, 2022
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Benchmark U.S. crudeBrightBusiness & MarketsgoldGold and CommoditiesinvestingMarketspersonal finance
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Benchmark U.S. crude oil for October delivery fell $2.37 to $92.52 a barrel Thursday. Brent crude for October delivery fell $1.88 to $99.34 a barrel. Wholesale gasoline for September delivery rose 1 cent to $2.81 a gallon. September heating oil fell 6 cents to $3.95 a gallon. September natural gas rose 5 cents to $9.38…
More Than 20 Million American Households Behind On Energy Bills
More than 20 million households in the United States are behind on their energy bills, according to a recent Bloomberg report based on data from the National Energy Assistance Directors Association (NEADA). The households in question owe a combined $16 billion in unpaid utility bills, with the average balance owed climbing to $792, a 97 percent jump since 2019. “The…
11 Tips to Invest in Gold for Retirement
If you’re looking for a smart way to invest for retirement, consider adding gold to your portfolio. Gold has long been considered a safe investment with a solid track record, but it also provides an opportunity to diversify your portfolio at no additional cost. In this post, we’ll walk through the steps of investing in…
When Investing in Crypto, Avoid These Scams to Protect Your Portfolio
Cryptocurrency is one of the most popular investments of the past few years. The crypto market is booming, with billions of dollars traded and bought quarterly. However, despite this increase in popularity, the crypto industry is not without its fair share of scams. Coinbase, one of the world’s largest and oldest cryptocurrency exchanges, has come…
Biden’s Student Debt Forgiveness to Benefit White House Staffers: Watchdog
August 25, 2022
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Business & Marketseconomic policieseconomyinflationJoe Bidenpersonal financePolicies & ImpactsRegional-Local Newsstudent loanUSUS NewsWhite House
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A watchdog group claims President Joe Biden’s newly announced student loan forgiveness scheme stands to benefit a number of Biden appointees who qualify for the debt wipeout scheme that Republicans have panned as “wildly unfair redistribution.” Taxpayers will absorb up to $10,000 in outstanding student debt for borrowers earning less than $125,000 per year under…
IRS Waiving $1.2 Billion in Taxpayer Penalties; Here’s Who Qualifies
The Internal Revenue Service (IRS) announced on Aug. 24 that it will waive penalties levied against American taxpayers who failed to file their 2019 and 2020 returns in a timely manner during the COVID-19 pandemic. The agency will also issue over $1.2 billion in refunds or credits to taxpayers who received the fees. According to the IRS,…
Canceling Student Debt Is Wrong on Every Level
August 24, 2022
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BrightbudgetingBusiness & Marketsconsumer debtdebt forgivenessDebt ManagementInvestmentpersonal financestudent debt
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One of the first things a toddler learns to say is “That’s not fair!” It turns out that the idea of fairness, a concept related to justice, is intuitive from an early age. Even 3-year-olds understand that merit is fundamental to fairness. Merit is the idea that “rewards should be distributed according to how much…
How Major US Stock Indexes Fared Wednesday Aug. 24, 2022
Stocks closed modestly higher as Wall Street recovered some of this week’s steep losses ahead of a highly anticipated speech by the Federal Reserve chair later this week. The S&P 500 ended 0.3 percent higher Wednesday. The Dow Jones Industrial Average and Nasdaq also inched higher. Trading has been quiet the last two days ahead…
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