Follow up: Vanguard’s predictions for 2023
Here is their forecast for 2023: With that track record, they predict 2024: Vanguard heads say 2024 will be “below average” for stocks (cnbc.com)
Economy, Media: Time for the monthly “living paycheck to paycheck” stories
The media can’t even come up with a new angle. They run this story monthly. 62% of Americans live paycheck to paycheck amid inflation (cnbc.com) And it’s always around 60+%…
Policy: Academics call for a global wealth tax
It would start with billionaires, and then, they say, expand downwards from there to tax “other rich people”: Billionaires Are Next Up in Crosshairs of Global Tax Architects (msn.com) After…
Economy: Rent price controls might be a root cause of high housing costs
Rent price controls might be a significant factor in today's housing shortages.
Follow up: Economic forecast models mostly useless
The New York Times also chimed in on the poor forecasting record of economists Monday in a separate story, “New Normal or No Normal? How Economists Got It Wrong for…
Economy: Mean net worth of American households exceeds $1 million … but …
Impressive numbers, but not everyone is average. Hence, the median number also tells us a bit more ...
Workforce: Ageism is ingrained in the work world
Employers much more likely to hire someone less than 45 years old. After that, participation in the labor force begins to drop off sharply. According to an OECD report which…
Economy: Americans grew rich by borrowing from their future
Not even a peep about how government transfer payments increased household wealth – by taking on huge government deficits: US household wealth surged at record pace during pandemic, Fed says…
Media: “The cost of homeownership spiraled upwards last year”
Everything about financing a home purchase surged last year, from mortgage rates to fees and discount points, according to a report from the Consumer Financial Protection Bureau on mortgage costs.…