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Q2 GDP Revised to 3.1%, up 0.1%

The Department of Commerce revised second-quarter GDP growth by 0.1%, from 3.0% to 3.1%. The next-highest GDP growth rate hasn't occurred since Q3 2016 when the US posted a growth rate of 2.8%. 

GDP growth has been a major topic of discussion in both business and politics. Many believe that there's no reason that the US can't continue to post 3% or higher growth rates in the next few years. Others, however, believe that the days of significant GDP growth are over. 

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In a press conference on Tuesday, Fed Chair Janet Yellen said: "My colleagues and I may have misjudged the strength of the labor market, the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation." 

Read more below:…

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Great read on current issues involving the Fed and its $4.6 trillion balance sheet.

Dick Bove, an equity research analyst at the Vertical Group, explains the problem with the Fed and how the Fed would be insolvent if it were judged as a private financial institution. Read more below:…

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A concerning report from WalletHub says that US consumers will add more than $60 billion in credit card debt by the end of this year: 

http://www.foxbusiness.com/features/2017/09/11/americans-headed-towards-1-trillion-in-credit-card-debt-study-says.html

Are you concerned about the rise in credit card debt? How do you think this…

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Ascent of Money

Imagine a world with NO MONEY!!

It is almost time to teach Money chapter during the semester. I would like to remind you a great documentary to share with your class: Ascent of Money.

This is the link for the first hour:  talks about the history of money, bonds, finance, and more...…

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The fall in gas prices is something to certainly be happy about, especially since gas is $3 or lower in some American states.   Car sales have increased with consumers buying SUVs and trucks.  Consumers are enjoying the low gas prices  and are taking advantage of their gas guzzling cars.  It's great that oil prices are dropping, but could this cause an increase in greenhouse gas emissions as more gallons are…

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Kmart opens before breakfast on Thanksgiving

The deals would have to be almost free to make me start my holiday shopping on Thanksgiving, let alone Black Friday.  Big-Box stores put their Christmas and other holiday-affiliated products onto their selves earlier each year to convince consumers that they really need all these products.   Profit is truly the goal of business.   -AL…

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China one of top 3 destinations for expats

Expat, short for expatriate, is a person who lives in one country for a while, even though they were raised in another nation.  Many people are moving to China to take advantage of the low costs of living and to personally make their money go further.  According to this article, 25% of expats make more than $300,000 a year.  Switzerland is…

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Many economists have studied the reasons why people find difficulty obtaining jobs.  This mainly deals with where somebody lives and the location of available jobs.  Some employers discriminate against certain applicants if they come from a "bad area."   Those searching for jobs tend to feel less hopeful when applying for jobs that are far from their residences. …

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The below article explains how wealth is surpassing American's average income - which is not a good thing.  This means that Americans are soon going to find certain products more expensive to purchase than they used to be.  -AL

http://money.cnn.com/2014/10/21/news/economy/wealth-income-growth-ratio/index.html?iid=HP_River

More household…

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