Pet insurance: a valuable investment in the health of your furry friends (and your bank account, too)
Your elderly dog has arthritis. His breathing is difficult. He needs assistance to get up, and his bladder is failing. The vet bills are far higher than your own, and it is getting more difficult to pay them. “How much is too much?” Some say there is a limit, others would be willing to go…
By Bill Schmick
August 18, 2022
The wealth effect impacts consumer spending as inflation and interest rates climb
Understanding the wealth effect Economists know that consumers spend more when their wealth increases, even if their income remains the same. However, if wealth decreases, the opposite occurs. The concept, known as the wealth effect, has spurred the economy for well more than a decade as savers’ 401(k)s and other retirement accounts increased year-after-year. At…
By Bill Schmick
May 26, 2022
Interest-only mortgages are risky in a rising interest rate environment
Over the past decade, as interest rates declined, some homebuyers gravitated towards interest-only loans. However, times are changing, and borrowers should be careful in considering this kind of mortgage loan. During the past two years, many financial lenders have tightened credit standards across most loan types. The combination of the Coronavirus pandemic, supply shortages, inflation…
By Bill Schmick
May 19, 2022
Does this look smaller to you? Shrinkflation is here.
By now, you may have noticed that something doesn’t look quite right on your grocery shelves. Could it be that bag of chips, or maybe that roll of toilet paper, seems to have shrunk? Let me assure you it is not your eyes; we have all come down with a bad case of shrinkflation. Shrinkflation…
By Bill Schmick
April 28, 2022
U.S. shale producers can’t rescue us
Oil prices are up 70% since last year. Prices at the pump are well over $4.25/gallon. Everyone from President Biden on down is scrambling to find a way to reduce energy prices. Why, therefore, aren’t we looking at our own domestic oil producers? Unlike Saudi Arabia or the United Arab Emirates, which can increase the…
By Bill Schmick
March 24, 2022
The U.S. dollar hits two-year highs
The Federal Reserve Bank’s tightening of monetary policy has driven up interest rates, while causing investors to sell stocks. It has had another impact—a steep rise in the U.S. dollar. The U.S. bond market has already priced in a 96% chance of a 50-basis-point rise in the Federal funds rate at the next FOMC meeting…
By Bill Schmick
April 21, 2022