President Donald TrumpLeah Millis | Reuters President Donald Trump railed against Jerome Powell on Thursday, claiming that “people are VERY disappointed in” the Fed chairman despite the central bank’s third interest rate cut this year. “China is not our problem, the Federal Reserve is!” Trump tweeted. “We will win anyway.” Trump’s blast came a day…
Trump rails against Powell a day after the Fed cuts rates for a third time this year — Nightly Business Report
Hola Exchange members, in regards to personal financial independence most people ask the same question – how do I create wealth. One method to create wealth is to spend less on the necessary goods and save the difference. The video above is not a deep dive in the financial aspect of your money, but on the practical points of the second biggest bill most people will make, their car. After your house, and in some cases your college tuition, your car is one of the most expensive items you will invest into. The term invest is a bit miss leading. In the purest sense an investment is something that generates an income. Cars, on the other hand, do not generate an income, but a car provides you a means to create income. Should you spend more on a deprecating asset or less? Watch Mr. Kilmer and you decide.
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Weekly Wrap Up
Hola Economic Jedi, a brief summary of the week that was…
Enjoy your weekend.
The house bubble has left many in the country without a major asset, a home. During the recession many out of work individuals returned to school seeking a degree and career options. Some found success, but most left college with a debt of $35,000. Senior Government Official A. Wayne Johnson has seen enough and recently stepped down from his post in the Department of Education. Once a hand picked associate of Secretary of Education Betsy DeVos, Johnson has suggested forgiving $50,000 of debt to help keep the economic moving.
A senior government official appointed by Education Secretary Betsy DeVos resigned Thursday, saying the current student loan system is “fundamentally broken” and calling for billions of dollars in debt to be forgiven.
Hello young Economist & Jedi, I wanted to share this with the present and future student on how to get into your professor’s good graces. Another way to view this, how to avoid the doghouse with your instructor.
College is not an extension of high school. That may seem obvious to anyone who has gotten a degree, but in my decades of teaching, I have observed many college freshmen who do not understand the expectations of college classes. Those 18-year-olds who are slow to figure out this basic truth risk failing classes or dropping out of school — two costly mistakes — or graduating with a mediocre record, which isn’t much better.
Billions of dollars are being spent on the construction of new public transit across Canada and the leading political parties have promised even more transit funding during the current election campaign. Read More
Does new public transit boost home prices? If it’s underground, the answer is usually yes — Financial Post
Netflix, the ultimate disruptor, could be headed to extinction. The company started the streaming service model and created a business unlike any other. The streaming idea is so good the competition is using Netflix as a guide to create their own streaming service, in turn disrupting the disruptor.
In the latest blow to Netflix Inc., AMC Theatres, the biggest cinema chain in the world, said Tuesday it is launching a streaming service that will allow members of its loyalty program to rent or buy films and watch them at home, the first such offering from a cinema operator. The 20 million-plus U.S. households that have signed up to the company’s AMC Stubs program will be able to access about 2,000 films from every major studio, starting Tuesday. Later in the year the service is slated to be expanded to include films from AMC Networks’ (AMCX)IFC Films and RLJE Films.
https://finance.yahoo.com/m/ab630de0-465a-3f46-87d6-682afa17f9ac/amc-theatres-launches.html
I don’t quite understand the financial world, however I believe the Michigan Pension Board made the correct decision here. The article speaks volumes. The industry needs to change.
The state of Michigan has pulled $600 million of its pension fund from wealth management company Fisher Investments after the company’s founder and CEO Ken Fisher made sexist comments at a summit in San Francisco this week.
The average price of a new car in the US is north of $36,000. Can the average blue-collar American afford to buy a new car? While talking to a friend I learned the true nature of the automobile industry. The loan term for a new car can reach beyond 85 months. The economic community is concerned about student debt, and rightfully so, another issue is the possibility of a car loan bubble. If the economy slows down, as all markets eventually do, what will happen to the automobile market? If the Big 3 are depending on 60 to 85 month loans for business the auto business model is built on sand not steel.
Walk into an auto dealership these days and you might walk out with a seven-year car loan.
That means monthly payments that last well past when the brake pads give out and potentially beyond when the car gets traded in for a new one. About a third of auto loans for new vehicles taken in the first half of 2019 had terms of longer than six years, according to credit-reporting firm Experian PLC. A decade ago, that number was less than 10%.
Today, what are your options for financial independent? While the standard, old fashion idea of hard work paying off is not viewed with the same fondness as yesteryear, hard work is still the base element for success. What area to focus your effects on is key to future rewards. One key is absolute, develop an unique skill others will pay you for your time. Plan carefully and the skill can take you a long way before and during retirement.
Unless you were born into a rich family, building wealth can be very hard — depending on the path you choose.
Many people look at multi-millionaires and desperately want to know: What’s their secret? How did they get there? What does it take?
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