The United States is approaching a recession, as a closely watched economic index dropped for the tenth straight month in January, for the longest slump since the Lehman Brothers collapse in 2008. The Conference Board Leading Economic Index (LEI), released on Feb. 17, declined by 0.3 percent in January, following an 0.8 percent contraction in December….
Recession ‘Near’ as US Leading Economic Index Drops for Tenth Straight Month
February 17, 2023
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More Than 50 Percent of Americans Using Savings for Everyday Expenses: Study
More Americans are dipping into their savings in order to make ends meet amid crippling inflation, according to new data published in the Country Financial Security Index. The data come as the overall pace of annual inflation eased to 6.4 percent in January, down slightly from 6.5 percent in December 2022, according to the Bureau of Labor Statistics…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 16)
February 16, 2023
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Benchmark U.S. crude oil for March delivery fell 10 cents to $78.49 a barrel Thursday. Brent crude for April delivery fell 24 cents to $85.14 a barrel. Wholesale gasoline for March delivery fell 6 cents to $2.44 a gallon. March heating oil fell 3 cents to $2.81 a gallon. March natural gas fell 8 cents…
Household Debt Jumps by Biggest Amount in Two Decades to Record $16.9 Trillion
Americans are borrowing like never before, according to a new report from the Federal Reserve revealing that U.S. household debt swelled to a record $16.9 trillion in the final quarter of 2022, notching the largest quarterly increase in 20 years. Total debt balances grew by $394 billion in the fourth quarter of last year, driven…
Household Debt Jumps by Biggest Amount in 2 Decades to Record $16.9 Trillion
Americans are borrowing like never before, according to a new report from the Federal Reserve that revealed U.S. household debt swelled to a record $16.9 trillion in the final quarter of 2022, notching the largest quarterly increase in 20 years. Total debt balances grew by $394 billion in the fourth quarter, driven mostly by a…
You’d Be Surprised Who’s Driving Uber
Ridesharing has become a big business. As of 2021, the industry’s market value was $85.8 billion. And in 2022, 36 percent of Americans had used rideshare services. The big gun of ridesharing is Uber. It has 93 million monthly active users compared to Lyft’s 18.6 million. But when you’re ordering your Uber, do you ever…
A Guide to Using a Family Wealth Office
In today’s world of economic uncertainty, managing your finances can seem like a daunting task. Shifts in the market and inflation are making it harder to make ends meet for millions of people. Heck, even buying eggs has become financially complicated this year. Being in charge of a business during this time takes a team…
Closing Prices for Crude Oil, Gold and Other Commodities (Feb. 15)
February 15, 2023
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Benchmark U.S. crude oil for March delivery fell 47 cents to $78.59 a barrel Wednesday. Brent crude for April delivery fell 20 cents to $85.38 a barrel. Wholesale gasoline for March delivery rose 1 cent to $2.50 a gallon. March heating oil fell 10 cents to $2.84 a gallon. March natural gas fell 10 cents…
Retirement: When Your Second Act is Becoming an Independent Contractor
February 15, 2023
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By Yvette C. Hammett From Kiplinger’s Personal Finance There is a learning curve for those retiring from typical employment to join the world of independent contracting because you’ll now be your own boss. Here are some steps to get you started. Come up with a business plan. As an independent contractor, you’ll need one, according…
An Unusual Social Security Morning Mailbag
Most mornings, I sit down at my computer and open my emails. I find many of the same questions I’ve answered hundreds, if not thousands of times over the 25 years I’ve been writing this column. And even though it’s “deja vu all over again,” I don’t mind answering those questions because I know that…
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