Vaccines
Low Supply Increases Demand
Across the board, we’re seeing the capitalist principles of supply and demand both drive and curb U.S. economic activity. As more people have emerged from their hermit-like existence throughout the past year and a half, consumer spending is shifting from goods to services. For example, the services industry (e.g., restaurants, travel, hospitality) is on the…
Read MoreHow Inflation Risk Can Affect You
Inflation is a steady rise in the price of goods and services over time and actually signals both good and bad economic conditions. On one hand, as prices rise, someone living on a fixed income cannot purchase the same amount of goods, so they tend to reduce spending or buy cheaper alternatives. On the other…
Read MoreMarket Thoughts: Looking Ahead and Abroad
The mid-year U.S. economic recovery numbers look strong. On Wall Street, analysts predict that our economy will expand by trillions of dollars and create 2 million good-paying jobs throughout the next 10 years. However, despite nearly 1 million jobs reported in July alone, the White House cautioned that the resurgence in COVID-19 cases among unvaccinated…
Read MoreRanking the World’s Nations
What’s the best country? After several years at No. 2, Canada leads the globe, according to U.S. News & World Report’s “Best Countries” rankings for 2021. It’s followed by Japan, Germany, Switzerland, Australia and the United States.1 The criteria used to make Best Country determinations included quality of life, agility, entrepreneurship, an “open for…
Read MoreThe Job Market in the Post-Pandemic Era
According to the most recent Future of Jobs Report by the World Economic Forum, 50% of employees will need new skills training by 2025 as the pace of technological innovation continues to grow. Among business leaders, 94% say they expect employees to learn new skills while on the job, compared to just 65% who made…
Read MoreWhat’s Driving Oil Prices?
Oil prices are influenced by supply and demand, and 2020 was a great demonstration of this principle. With global and local shutdowns due to the spread of the coronavirus, there was less demand for products and services. While online shopping was up, foot traffic in stores languished and retailers – both local and nationwide –…
Read MoreA Shot for Economic Improvement
According to the Organisation for Economic Co-operation and Development (OECD), the ongoing distribution of vaccines combined with the latest government stimulus is expected to jumpstart economic activity in the U.S. However, projections for sustainable growth are not equitable among various countries and business sectors. Faster and more effective vaccination deployment across the world is critical.…
Read MoreQualified Business Income Deduction
One of the provisions included in the Tax Cuts and Jobs Act of 2017 was the Qualified Business Income (QBI) deduction. It is designed as a tax break for small businesses or self-employed individuals and is comparable to the enhanced tax breaks legislated for larger companies. However, while the corporate tax changes are made permanent,…
Read MoreVaccine and Technology: Where to Get Help
One of the biggest flaws in the COVID vaccine distribution plan is its heavy reliance on the internet. Meanwhile, older seniors — the first and most critical targets for the vaccine — are the least-experienced internet users. Most state and local plans have created websites that allow people to sign up for a vaccine…
Read MoreTax Pitfalls
Millions of Americans took advantage of the delayed tax-filing deadline in 2020. In fact, according to one survey, 11% of taxpayers filed their 2019 returns after the July 15 extension, and 3% still hadn’t filed as of last December. The primary reason most taxpayers file late isn’t due to procrastination, but rather because they owe…
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