Americans don’t save enough, either individually or collectively. Yet by looking at the wrong data, many journalists and even top economists are claiming we’re experiencing a “savings glut.” This is hogwash. It’s time to talk turkey about U.S. saving and for journalists and professionals to either do their homework or hold their pens. More
The inflation rate is the highest it’s been in 40 years. Congress can’t change that. But there are six things it can do to help all of us weather inflation, beginning with full inflation indexing of the tax code.
Congress should take this opportunity to make the tax system fully inflation-neutral. But neither inflation nor the Fed’s minor rate hikes will kill the economy. Nor will Putin’s war, which is stimulating the defense industry. Nor will ongoing slowdowns in Chinese production, which is stimulating home production. What can kill the economy is enough people, who should know better, talking it down.
Buy now. Houses, like most physical assets, retain their real value during high inflation and have done far better than most such assets. Plus, if you buy a primary residence now and home prices fall, you won’t be affected unless you need to sell. As long as you have a stable job, can manage your mortgage, and don’t need to move anytime soon, a short-term drop in housing prices isn’t a concern.
“Your World, Your Money sits down with bestselling author & Economics professor Laurence Kotlikoff to discuss his new release, “Money Magic,” an economist’s primer on personal finance for navigating career, retirement, loans, and more; challenging longstanding notions of economics and introducing base principles for pursuing financial security.”
Invading Ukraine has made him, his associates, and, indeed, his nation radioactive. Aeroflot can no longer land in any Western city. Western airlines are canceling flights to Russia. BP and Shell Oil are pulling out of Russia. AerCap, the world’s largest aircraft leasing firm is doing likewise. So are huge banks, including HSBC. Société Géneral, and Shinhan Bank. Even Disney has had enough. It’s pulling Batman from Russian theaters.