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Money & The Economy

News on Finance, Money, markets and the economy

U.S. News & World Report Identifies the 8 Best Cars to Buy Now

Car lot

U.S. News & World Report, the global authority in rankings and consumer advice, today unveiled December’s list of the Best Cars to Buy Now. To make U.S. News’ monthly list, a car has to meet three criteria: declining sales, strong manufacturer incentives and excellent scores in the U.S. News Best Cars rankings. “Year-end discounts and incentives make this a great time to ...

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Drug Prices Increase 50X Faster Than Inflation

Retail prices for 768 prescription drugs commonly used by older adults increased by an average of 6.4% in 2015, outpacing the general inflation rate of 0.1%. This is at least the 12th straight year of substantial retail price increases for prescription drugs, according to the latest in a series of AARP Public Policy Institute reports that began tracking drug prices in ...

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Press: 3%+ growth under Trump is ‘dreaming’ – Ummm… nope

End of an Error

They couldn’t help themselves. The mainstream media published column after column saying that Trump’s promise for GDP growth north of 3% was impossible because, after all, Obama hadn’t been able to do it. First, here are the media reports earlier this year that made it seem impossible that Trump’s policies could bring about 3% or more GDP growth – ever ...

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Study: Phone Scammers Getting Trickier for Upcoming Holidays

phone scammer

A new study shows that scammers are using new tactics like neighbor spoofing to take advantage of consumers as the holiday season approaches. First Orion, a provider of data and phone call transparency solutions, said that with over 2.4 billion phone calls made each month, scammers are using increasingly clever ways to penetrate carrier networks and reach their victims. To better understand the ...

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Consumer confidence continues 5-month run and 17-year high

economy going up

The Conference Board Consumer Confidence Index®, which had improved in October, increased further in November. The Index now stands at 129.5 (1985=100), up from 126.2 in October. The Present Situation Index increased from 152.0 to 153.9, while the Expectations Index rose from 109.0 last month to 113.3. “Consumer confidence increased for a fifth consecutive month and remains at a 17-year high ...

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Cyber Monday Outperforms Black Friday by 68 Percent

Black Friday - Cyber Monday

Holiday 2017 sales grew year-over-year (YOY) across the three-day period from Saturday to Cyber Monday, showing 23 percent revenue growth and 22 percent purchase growth. Cyber Monday itself outperformed Black Friday by 68 percent, and had year-over-year growth of 12 percent in both revenue and purchases. Mobile is a key driver of growth this holiday season, with mobile revenue up ...

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Workers brazenly shop at work to secure great deals

online shopping

New survey results from RetailMeNot.com show that over63% of employed consumers who plan to shop this holiday season intend to shop at work during Cyber Monday. What’s more is that employees seem to be getting more bold about their shopping: More than 53% are willing to get caught shopping while on the clock. Shopping on the 9-to-5 Bosses beware. Employees are willing to go to great lengths ...

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American Shoppers Expect to Spend average of $500 this Holiday Season

This holiday season, the average shopper expects to shell out $500, and nearly eight out of 10 consumers (76 percent) admit to overspending on holiday purchases by an average of $263 in the past – according to TD Bank’s Merry Money Holiday Spending Survey. The survey found that 62 percent of consumers prefer getting gift cards as a holiday present, with 50 percent ...

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Thanksgiving, Black Friday Online Sales Up 23 Percent from 2016

online shopping

2017 sales grew across the three-day period from the Wednesday before Thanksgiving to Black Friday, showing 21 percent year-over-year (YOY) revenue growth and 11 percent purchase growth according to a Rakuten Marketing report. Average order value (AOV) over the same period was up slightly, with YOY growth of nine percent. Additionally, purchases were up 17 percent during the two weeks leading up ...

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Home Prices Boom 10 Years After Housing Crisis

SANTA CLARA, Calif., Nov. 13, 2017 /PRNewswire/ — Home prices have returned to the boom levels of a decade ago — which foreshadowed the bursting of the real estate “bubble” and the onset of The Great Recession — but today’s housing market is starkly different, according to data released today from realtor.com®, a leading online real estate destination. Backed by tighter lending ...

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Watch: Trump announces Fed Chair nominee

Jerome Powell

President Donald Trump will speak from the Rose Garden as he announces the nomination of Fed Governor Jerome Powell as the next chairman of the Federal Reserve. If confirmed by the Senate, Powell will relieve Fed Chairwoman Janet Yellen when her term expires in February. The 64-year-old Republican was appointed to the board of governors by President Obama in 2012. ...

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Jeff Bezos now richest person in the world

amazon logo

Three months ago in July,  Jeff Bezos was for a brief moment the world’s richest person. This time, Amazon’s CEO and founder may hold onto that title for a while longer. On Friday, Amazon stock shot up an extraordinary 13 percent, an incredible amount for such a well-known company, after Amazon easily outpaced its third-quarter earnings expectations. Via Cnn Money: Bezos owned nearly 80 million ...

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Tax reform looking good for middle class, despite naysayers

Trump taxes

“Why are the naysayers so determined to block tax reform efforts on Capitol Hill?  There’s all too much negativity among folks like Chuck Schumer and Nancy Pelosi.  But the reality is that there is widespread optimism that tax reform can become a reality in 2017.  Most on the left side of the aisle likely will not support efforts to improve ...

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Millennials Spending More on Halloween, Saving Less for the Future


Millennials are spending more on near-term fun like Halloween candy, decor, and costumes while putting less into retirement savings and hard assets than other demographics according to a recent survey. The new Harris Poll showed that Millennials expect to spend 2.5 times more than Gen Xers and 8 times more than Boomers on Halloween related items. However, just 38 percent of Millennials say they are ...

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How to teach kids to be smart about money

How to teach kids the value of money

Parents are responsible for teaching kids how to manage money. But too few do. Personal finance expert and bestselling author Rachel Cruze reveals the three things every child (and adult) needs to know about teaching kids about it. Transcript of Rachel Cruze’s “How to Raise Kids Who Are Smart About Money” Everyone knows the earlier you learn a language, the ...

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