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Tuesday, April 24, 2018

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The past decade can certainly be described as Detroit's worst nightmare, the city went through home foreclosures, a shrinking population an increasing crime rate and a very personal matter. The collapse of the american auto industry! While General Motors was eventually saved by the U.S. Government and Ford managed to get away with a black eye, Chrysler wasn't so lucky! The brand was practically bought by multinational automaker FIAT. The Italian auto-giant is now the majority shareholder and therefore eligible to make crucial decisions, concerning the brand's marketing strategy and model lineup.... Read More

It was a regular flight for me to Miami…a late Saturday afternoon two weeks ago. As our flight approached Miami International Airport, the captain announced we would soon be starting our descent.

Then something happened that I thought was strange.

We started circling in the air. Not once or twice, which is common when air traffic gets congested, but we circled for what seemed to be 20 to 30 minutes. I told my wife, “Something is up. I wish the captain would come back on and tell us what’s going on.”

And finally that announcement came. The captain came on and said,... Read More

I’m blessed to be able to travel to Europe once or twice a year. I use the trips as an opportunity to see how the economies are faring over there. And I can tell you this first-hand: the economic situation in Europe is much worse than what we’re hearing from the mainstream media in the U.S. economy.

Here’s just one small story that paints the picture…

A couple of weeks back, while in Venice for four days, I walked into my favorite ice cream store for my daily fix of Italian ice cream. I’m chatty wherever I travel, as I want to get the locals talking so I learn what’s going... Read More

This morning, we heard from the Bureau of Labor Statistics (BLS) about the jobs market situation in the U.S. economy. It said the unemployment rate in the U.S. was 7.3% in October, compared to 7.2% in September. In October, 204,000 jobs were added to the U.S. economy. (Source: Bureau of Labor Statistics, November 8, 2013.)

Finally, a month in which more than 200,000 jobs were created! But not so fast…

The underemployment rate (which includes people who have given up looking for work and people who have part-time jobs but want full-time jobs) actually jumped in October to... Read More

I harp on about this over and over again: economic growth is when the average consumer is optimistic about their future; they are spending money, they know they will have a job tomorrow, and they are saving. In the U.S., we are seeing the opposite of all this.

In fact, consumer confidence in the U.S. continues to plummet; the Conference Board Consumer Confidence Index, an indicator of consumer spending, plunged more than 11% in October from September. (Source: Conference Board, October 29, 2013.)

But the misery doesn’t just end there for consumers in the U.S. economy. They... Read More

According to the just-released annual Wells Fargo & Company Middle Class Retirement Study, about 60% of middle-class Americans say that getting monthly bills paid is their top concern. This number stood at 52% in the 2012 study. (Source: Wells Fargo & Company, October 23, 2013.)

But there are more depressing results of the survey…

34% of middle-class Americans say that they will work until they are 80 years old, because they will not have enough money saved up for retirement! In 2012, the number of respondents with a similar opinion stood at 30%; and in 2011, this... Read More

Automakers in the U.S. economy are getting a significant amount of attention these days because they are selling more cars. In August, total light vehicle sales by the automakers in the U.S. economy increased 17% from a year ago. They sold more than 1.5 million cars in August compared to 1.28 million cars last August. (Source: Motor Intelligence, last accessed September 10, 2013.)

On the surface, sales reported by the automakers are exuberant. They show consumers are spending. And if this continues, maybe we will see some economic growth in the U.S. economy.

Sadly, this... Read More

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