Some positive data about Americans’ personal finances comes to us from the American Institute of CPAs (AICPA). They have been reporting a Personal Financial Satisfaction Index on a quarterly basis since 2004. In spite of its name, though, this index is not based on a survey or poll. It is rather a calculation based on…
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Remember the billions of dollars of poorly-vetted mortgage-backed securities (MBS) that helped destroy Lehman Brothers and numerous banks (not to mention the world economy) in 2008? This time it’s auto loan-backed securities (ABS) that are setting records. According to Bloomberg Businessweek, $26 billion in subprime ABS bonds were sold in 2016, surpassing the peak reached…
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Now that the year is almost behind us, let’s turn to my favorite topic, predicting the future. As usual, there were a number of events that occurred at various times during the year, the results of which (1) were completely missed by the media and (2) went totally counter to investor expectations. In case you’ve…
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My readers know that I never write about politics. However, having just lived through the most polarizing and divisive election in my lifetime, I felt an obligation to address this subject, since the actions of our elected officials can have a major impact on everyone’s financial future. So I’m taking the liberty of providing advice…
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If you are in the market for a new home, especially your first one, you will be faced with a plethora of choices and decisions to make. Location, size, style; there are so many variables that you may find the process overwhelming. But the first decision you will face is how much house you can…
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According to Time Magazine, the answer is yes. I refer to their recent cover proclaiming “Make America Solvent Again!” and touting our current $13.9 trillion debt level. Sounds more like a rallying cry for a political candidate than an attempt to educate the public on economics. But that’s pretty typical for the media these days. …
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