Price Gouging Versus Inflation: Understanding the Differences
The world gets more expensive every day. Still, somehow, corporations experience record profits while consumers struggle to buy groceries or fill up their gas tanks. How is this possible?It is easy enough for consumers to understand inflation. But if the cost of goods goes up, so does the manufacturing price, right? How can a company […]
Social Security Benefits Increase in 2023 — What Does That Mean for Your Finances?
Anytime you receive more money every month, it can feel like winning the lottery — at least at first. The news that social security benefits are increasing in 2023 probably makes you very happy. But before you count your chickens, it’s smart to know the details. How much more can you expect every month?Why Are […]
Understanding Current Inflation and Its Relationship With Monetary Policy
Inflation — broad-based increases in prices across the economy — is unusually high, and consumers are concerned about the dollar’s value. A paycheck or social security check does not go as far as it once did. The Bureau of Labor and Statistics states that within a 12-month window, inflation increased from 1.4% to 9.1%. What […]
4 Reasons Not to Panic Over Inflation
It’s a word no one wants to hear, and even fewer people like to talk about: inflation. Yet, prices are up in every possible sector, including food, rent, utilities, fuel, and many other areas. As prices continue to rise, so do the average Americans’ concerns about their financial futures.While inflation is concerning, the outlook might […]
Inflation and Diminishing Wage Gains
Many Americans experienced wage increases over the last several years; the national average was about 4.5% last year. Unfortunately, the progress in wages is all but canceled out by increasing inflation. According to the Bureau of Labor and Statistics, prices increased by an average of 7.9% over the last year.Therefore, while many Americans saw increases […]
Russia’s Choices and International Consequences
In the waning days of February 2022, Russia declared war on Ukraine. Swift in its rebuke and response, the international community instituted financial sanctions, trade bans, airline bans, suspension of the Nord Stream 2 pipeline to Germany, and measures to isolate Russian banks.The actions against Russian act as motivators to evacuate Ukraine and avoid further […]
Inflation and the American Household
Groceries, clothing, cars, and countless other essential and luxury items have increased in price over the past few months, putting a significant strain on the average American household. Aside from the increasing cost of living, Americans have experienced lower interest rates on savings, meaning families are being clobbered financially, which is jarring — to say […]
How To Protect Your Finances Against Inflation
Benjamin Franklin once said, “In this world nothing can be said to be certain, except death and taxes.” He was pretty close, but he forgot one other fact of life: inflation. No matter what country a person lives in or what type of currency it uses, inflation is something that’s impossible to ignore.What Is Inflation?In […]