Americans Added $1,054 to Personal Debt This Holiday Season
Among Americans who went into debt this past holiday season, the average debt incurred was up 5% year over year to $1,054. Now it's payback time.
Economy
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US Population Adds One Person Every 18 Seconds
The U.S. population will grow by more than 2 million people in 2017, cementing its place as the world's third most populous nation after China (1.38 billion) and India (1.3 billion).
Consumer Confidence Rapidly Peels Away From 17-Year Highs
The Conference Board has released its December reading on consumer confidence. After coming in with a rather strong reading in November, the index fell in December.
New York Area Property Taxes Soar as Questions About Discretionary Income Rise
While it is too early to tell, discretionary income in many areas around the nation could be curtailed and undermine consumer spending.
Russia Setting Rules for Cryptocurrency Miners
Russia is working on rules to regulate cryptocurrencies, mining, and coin offerings in the country. But will the rules keep the "crypto" part of what makes the new digital currencies popular?
Should Global Investor Confidence Really Still Be Shrinking?
State Street has released its Investor Confidence Index, which measures the global risk tolerance of institutional investors.
10 Financial Resolutions for the New Year
Making resolutions for the New Year often involves taking better care of ourselves, paying attention to exercise and diet. Keeping financially healthy is just as important.
Consumer Sentiment Dips in December but Remains Quite Positive for 2018
The University of Michigan's revised consumer sentiment reading for December showed a surprise downtick.
Nonmanufacturing Activity Picked Up in the Northeast in December
According to the Philly Fed, nonmanufacturing firms reported an expansion in employment, and they reported higher prices paid and prices received.
Personal Spending Outpaces Income Ahead of the Holidays
Bureau of Economic Analysis has released its report on personal income and spending for the month of November. Both indexes posted gains, but one has so far outpaced the other.
Philly Fed Strengthens More Than Expected in December
The Federal Reserve Bank of Philadelphia has released its final manufacturing report of 2017.
Wage Theft Cost Workers $50 Billion in 2016
U.S. workers lost an estimated $50 billion in 2016 as a result of wage theft by their employers. The amounts recovered through government agencies and legal action represent only a fraction of the loss.
For the Overall Economy, Tax Reform Is Much Ado About Nothing
Given current sentiment, if the tax reform bill passes both houses of Congress eventually, the resulting exuberant buying pressure could signal an intermediate top for the major stock indexes.
Consumer Inflation Not as Hot as Producer Inflation, but Plenty Justification for Rate Hike
After a strong reading on the Producer Price Index for November, the U.S. Department of Labor has reported a strong reading for the Consumer Price Index in that month as well.
Survey: Trump White House Is Most Corrupt Institution in the US
According to Transparency International's latest survey of Americans, 44% believe that all or most of the officials in the Trump administration are corrupt. That's worse than the 2016 survey.