How much does the average American family earn in 2020? Why household income figures are going to get shattered because of Covid-19 and 65 million Americans on Social Security
The typical American family was already having a tough time prior to Covid-19 and many were living paycheck to paycheck. Surveys conducted prior to Covid-19 showed that 1 out of 3 Americans were not able to sustain an emergency expense of $1,000. As many of you know, even a small illness would shatter this amount. […]
The debt spending binge: Household debt has surpassed record levels reached during 2008 Great Recession.
Debt spending is once again keeping the economy afloat. People are leveraging future income on buying items today on the basis that the economy is not going to have a hiccup. On some reports you see pundits mentioning that delinquencies remain low. Well things were fine too before the Great Recession hit. Once again we […]
Amazon is annihilating the Department Store faster than you think with 80 million prime subscribers: 4 charts showing the destruction of the department store.
If you enjoy the process of shopping at department stores you may want to get it out of your system sooner rather than later. Forget about the fact that the US has built a ridiculous amount of mall space thinking that Americans were perpetually going to only buy in-person in cavernous florescent light stores. Amazon […]
Baby boom or bust: Retirement withdrawals now exceed contributions. Since 2008 US public debt up by $10 trillion, nearly the same as the Russell 3000 Index.
You knew it was only a matter of time before baby boomers started taking out their money from retirement accounts in mass. If you think boomers were rebalancing every year carefully, think again. We have now crossed an interesting threshold where retirement withdrawals exceed contributions. Part of this has to do with a younger and […]