The thought of inflation strikes terror in the hearts of many Americans. For most of us, times are tough enough as it is. The last thing anyone wants is for the things they buy on a regular basis -- milk, gas, bread, toothpaste, whatever -- to get more expensive.
Tim Iacono submits: The mood of the American consumer soured a bit early in the year as the Reuters/University of Michigan consumer sentiment index slipped from 74.5 in December to 72.7 in the first of two readings for January.
Whether you're a millionaire or a middle-class father of two, we all make the same mistakes when it comes to money and happiness. If you really want to buy yourself a more fulfilling life, it's not how much money you earn that matters, but figuring out the right way to spend it.
Finding practical ways to save money over the long haul can be something that escapes our attention. It’s easy to look for the best price on an item when shopping, or add money to your savings account every week, but thinking long-term is an intentional action that takes thought and planning.
By James Picerno: The Economic Cycle Research Institute’s weekly leading index jumped last week to its highest level since September 9, the consultancy reports. Nonetheless, the self-proclaimed “leading authority on business cycles” continues to forecast a recession for the U.S., as ECRI’s co-founder, Lakshman Achuthan, explained yesterday on Bloomberg TV.
To many, the answer is obvious. If home prices suddenly fall, then we’re all poorer, and we’re all spend less money, resulting in a recession. Empirically, this is in fact what tends to happen. But as this interesting comment from some anonymous economist explains, the actual reason why is considerably more complicated: