Economic indicators are proving that consumers and businesses are fueling the economy with pent-up demand on spending. Consumers are reacting to the vaccinations with robust spending on vacations, furniture, automobiles and homes, while businesses are trying to ramp up production and services to meet the need.
The S&P 500 Index gained 8.1% for the second quarter and 14.4% year-to-date despite concerns over Federal Reserve policy, fiscal spending and the spreading delta variant of COVID. Most investors see an improving economy with continued low interest rates being positive for corporate earnings.
Before you start driving around neighborhoods looking at For-Sale signs or going online to search houses for sale, you should get your personal finances in order. That means tracking your living expenses and creating a strict budget, which will be invaluable in finding a home you can afford.
Ransomware is a type of malicious software that locks up your files so that you no longer can access them and demands you pay a ransom to unlock the files. Paying in Bitcoin or cyber currency gives the cybercriminal anonymity and cannot be traced.
The S&P 500 index was up slightly in the month of May due to growing investor confidence in higher 2021 corporate revenues and earnings. With the receding COVID pandemic, consumers and businesses are emerging from social-distancing protocols and accelerating their spending. This strong growth in demand for goods has led to inventory shortages in many cases. Temporary delivery delays for raw materials and components are constraining global growth. Employment is expanding, however, which means goods manufacturing should improve and service industries should gain momentum.
To paraphrase a famous expression: When the going gets tough, the scammers get going. Scammers are even identifying themselves as bank employees to steal information and cash.With COVID-19, the fraudsters are out in force, seeking to take advantage of the widespread anxiety generated by the global pandemic.
The creation of cryptocurrencies or digital currencies such as Bitcoin has bankers, financiers and governments pondering the long-term potential economic and political ramifications for the future. While the increasing use of digital currencies demonstrates the power of a secure, secretive payment transfer system, it also has created a loophole from government control.
The S&P 500 Index grew 5.8% in the first quarter in response to the massive fiscal stimulus and the anticipation of a significant economic rebound. The recent passage of the $1.9 trillion federal stimulus package added to the previous five major stimulus bills totaling over $5.2 trillion. Lawmakers as well as the Federal Reserve have responded dramatically to the COVID pandemic flooding the market with liquidity and the markets responded positively. The COVID-relief money flooding into depository institutions is being used for consumption and investment and helping corporate earnings rebound quickly.
It’s the time of year when the Internal Revenue Service (IRS) releases its list of the latest tax scams. Scammers routinely use the anxiety of tax season to prey on the unsuspecting, and this year, they’re also using the pandemic and the government’s Economic Impact Payments to steal money and identities from taxpayers.
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