Category: ECONOMY

Best Places To Retire In The United States

Wallet Hub just released their in-depth report on the best places to retire in the United States. To no surprise, Florida tops the list with 5 cities in the top 10. The big losers were high tax states like California and the Eastern corridor.

Here are a few highlights form the report:

With only 23 percent of Americans reporting that they are “very confident” they will have enough money for retirement, the personal-finance website WalletHub today released its report on 2019’s Best & Worst Places to Retire as well as accompanying videos.

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Wealthy Families Are Adding Forests to Their Portfolios

Tom Crowder spent much of his two-year career in the NFL running away from men who weighed upwards of 300 pounds. These days? He worries about bears and snakes. As a senior vice president at Bank of America Corp., Crowder spends most days in the woods, from the evergreen forests of New England to the wetlands of the Carolinas, scouting U.S. timberland assets for people with a net worth of at least $100 million and a minimum of $10 million to invest.

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S&P 500 closes at new record…

Stocks rallied on Thursday, led by strong gains in tech and energy shares, as Wall Street cheered the possibility that the Federal Reserve will cut interest rates next month.

The S&P 500 surged 1% to 2,954.18, a record close. The broad index also hit an intraday record of 2,958.06. The Dow Jones Industrial Average closed 249.17 points higher at 26,753.17. The Nasdaq Composite gained 0.8% to end the day at 8,051.34.

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Lululemon shutters men’s only stores

Despite success in its men’s business, including a goal to double revenues in the men’s business by 2023, Lululemon seems to be backing down from pursuing standalone men’s concepts.

A company spokesperson pointed to Lululemon’s test-and-learn mentality with regards to the concept, saying the retailer believes having men’s and women’s co-located, rather than independent, will help to drive growth in the men’s business.

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Elephant in the room: student loans reach $1.5 TRILLION

student loans

Whenever I bring up student loans with a co-worker or friends they get a sad look on their face, like they’re f***ed. Most will be f***ed their whole life because they can’t manage debt properly and that 10-year student loan will turn out to be a 30-year mortgage. Unfortunately, there are 44 million people with student loans (30-year mortgages) that total a whopping $1.5 trillion according to this Forbes report.

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Cord cutting continues as consumers cut cable in record numbers

cord cutting

More bad news for the network liars. According to this Fortune report, more and more people are cord cutting forcing companies like AT&T and Comcast to raise their rates.

The rate of consumers dropping their cable and satellite TV packages hit the highest level ever in the last three months of 2018. And for the first time in a few years, the losses weren’t more than offset by people signing up for Internet TV subscriptions.

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Will Tesla become the next Amazon?

Tesla

I ran across an interesting article at cnbc.com that claims Tesla is the next Amazon. This is one of those times I wish I had some “f*ck you” money lying around to invest. Elon Musk, in my opinion, is an enigma. He’s an entertaining CEO who is willing to give the establishment the middle finger. Even more important is the fact that Musk is a disrupter, something the legacy media and corporations despise.

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Philadelphia vetoes CASH ban…retailers must accept greenbacks

cash

A small win in the war on cash.  According to this USA Today report Philly businesses will no longer be able to ban cash.

To retailers who say ‘no cash,’ Philadelphia’s city council is saying no dice.

Philadelphia’s city council voted Thursday to require most local businesses to accept cash as payment, pushing back on a growing trend in which restaurants and retailers accept credit and debit cards only.

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Worst retail sales drop in 9 years is ‘every bit as bad as it looks’

retail sales

More bad news for retail. According to this Yahoo report retail sales dropped 1.2% month-over-month in December, the largest drop since September 2009, according to data from the Census Bureau.

The retail sector took a blow in the final month of 2018, adding to a list of consumer economic casualties amid year-end turmoil in the financial markets and a protracted U.S. government shutdown.

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