Economy News

Nov. 15, 2021

11/15/21

 

 

 

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Companies are paying higher wages, spending more for materials and absorbing record freight costs, pushing up economic inflation gauges. They are also reporting some of their best profitability in years. Executives are seizing a once in a generation opportunity to raise prices to match ...

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Posted in Economy News
Nov. 12, 2021

11/12/21

 

 

 

 

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This year is likely to end as the best year on record for the shipping industry. Global trade volumes jumped by 8% -10% in 2021 as the global economy started recovering from months of lockdowns and other trade restrictions.....rates have more than ...
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Posted in Economy News
Nov. 5, 2021

11/5/21

 

 

 

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The economy is expected to have added 450,000 jobs in October, according to estimates from Dow Jones, up sharply from 194,000 in September. More signs of a spectacular economic recovery. The DOW is at 36,000, up over 18% this year alone ...

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Posted in Economy News
Oct. 29, 2021

10/29/21

 

 

 

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The U.S. economy grew at a 2% annualized pace in the 3rd quarter, its slowest increase since the end of the 2020 recession, but about the same as the average for the past decade. The DELTA COVID surge and supply crunch drove this ...

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Posted in Economy News
Oct. 19, 2021

10/19/21

 

 

 

 

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While refinance originations could drop 62% in 2022 to $860 billion, mortgage originations for the purpose of buying a home are forecast to rise 9% to a new record of $1.73 trillion in 2022. (CNBC)

 

 

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The wealthiest ...

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Posted in Economy News
Oct. 18, 2021

10/18/21

 

 

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The average 30-year fixed mortgage rate rose to 3.05% last week, according to Freddie Mac, the highest level since April though still low by historical standards. The shift means home buyers are better positioned to negotiate a lower interest rate since higher rates reduce ...

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Posted in Economy News
Oct. 14, 2021

10/14/21

 

 

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Consumer prices rose over 5% in June, July and August.....of 2008. 5.6% in July 2008.... Inflation is nothing too new and often it can spike temporarily:  hopefully, the current inflation spike to 5.4% eases soon as production ramps up. (Barrons)

  ...

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Posted in Economy News
Oct. 8, 2021

10/8/21

 

 

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The average age of VERY HIGH NET WORTH individuals (average $10 million net worth) is 60, with more than 50% of this group aged between 50 and 70. About two-thirds of the VHNW class have a net worth $5 million to $10 million. By 2025 ...

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Posted in Economy News
Oct. 7, 2021

10/7/21

 

 

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Nearly 96% of the 24.4 million tax returns filed by partnerships, S corps and sole proprietors  reported adjusted gross income of less than $500,000, according to Penn Wharton Budget Model estimates. Less than 100,000 filers with pass-through income reported adjusted gross income ...

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Posted in Economy News
Sept. 21, 2021

9/21/21

 

 

 

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The top 1% — those earning $540,009 or more — accounted for 40% of the federal income taxes paid......but the picture looks a little different when talking about ALL federal taxes. The Tax Policy Center, a nonpartisan research group, uses a ...

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Posted in Economy News