As the COVID-19 pandemic continues to threaten the world, the United States economy has slowed significantly or nearly shut down in some areas. Because of the required actions to slow the spread of the coronavirus, most non-essential businesses have been forced to shut down, resulting in millions of layoffs. To combat the economic effects […]
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We’ve seen unprecedented growth the past ten years since the last recession. According to Goldman Sachs in early 2019, the 10-year trailing annual return of 15% ranks in the 94th percentile of all 10-year periods going back to 1880. There are millions in the workforce today – including young millennials and the oldest of […]
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Health care in the United States can be summed up in two words: complicated and expensive. For those that can access and afford health care in the United States, many would argue that the US health care system is the best in the world. But what about those who can’t access care? Or can’t […]
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Years ago when the Affordable Care Act was being pushed by Democrats there was a lot of attention given to the number of bankruptcies being driven by medical bills. Estimates of hundreds of thousands, if not more than a million, bankruptcies being driven by medical bills each year in the United States were common. Regardless […]
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A while back I saw a graphic in an article showing what industries made up what percentage of all corporate profits. Banks and financial institutions made up a huge percentage of overall profits. To some this is a surprise, to others it’s all too predictable. A lot of people complain about how much the big […]
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Bitcoin – a digital currency – has the potential to disrupt the century-old monetary system of fiat currency. For centuries in the United States, and millennium, in other areas of the world, currency has been controlled by governments. Governments control the production of currency and make it illegal for there to be “unofficial” currency. Interest […]
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If you live in the United States, starting in 2014 you will be required to purchase health insurance or pay a fine. The question is: will young adults opt-out and pay the fine? This is one of a number of economics-related lessons that can be taken away from the Health Care Reform law. Today I […]
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Every day we hear about the impending fiscal cliff the United States is facing. President Obama said he will not accept any compromise that doesn’t tax the wealthy at higher rates; conversely the Republican leadership has said they are standing their ground and will not agree to tax increases. What I see most likely happening […]
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Opportunity Cost. Many have heard the term and have a general idea of what it is, but how often do we factor in opportunity cost into our decision-making process? The definition of opportunity cost according to Investopedia is: The cost of an alternative that must be forgone in order to pursue a certain action. Put […]
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