COVID-19 effectively put a halt to most elective surgeries. As the nation gets vaccinated, however, medical authorities have given the all-clear to a resume those surgeries. But will patients come back? The answer to that question is important to the nation’s hospitals, whose bottom line has suffered as much as, or even more than, most of their patients. Last year, hospitals were forced to shut down surgery in order to create capacity for skyrocketing cases of the coronavirus. But even after beds opened up again (as a result of the reduction in new, serious Covid-19 cases), most patients are still…
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Selling dirty
According to a survey performed by AlixPartners (AP), U.S. consumers are the “most anxious” about their health and finances. Chinese consumers rank the lowest in terms of anxiety pertaining to those issues. AP’s April 2021 survey concluded that “half of all global consumers say their spending habits have changed permanently due to the pandemic.” Whether you are a business owner or an investor, it is essential to understand where consumer spending will be directed. To figure out the “where,” we have to understand the “why.” According to the AP survey, nearly one out of every three U.S. consumers identified as being very…
Stocks soar on stronger economy
A combination of stronger economic growth, declining interest rates, and expectations that the economy will get even better pushed the U.S. stock markets to another set of record highs this week. As fears of higher bond yields continue to fade, sectors that do well under lower interest rates took off this week. Commodities in general came back in favor and even the greatest laggard of all—gold—saw some fresh demand. That’s right, the precious metal I least favored at the beginning of the year actually came to life, although it has a long way to go before recapturing its former luster….
A highway of opportunity
Most Americans seem excited and hopeful about the prospects for the Biden Administration’s infrastructure plan. Local politicians as well as their construction buddies are salivating at the possible promise of getting their share of this multi-trillion-dollar prize. But looking beyond the pork barrel, we might want to consider how innovation and technology could help America regain its first-class status in infrastructure. As of 2019, the United States is ranked 13th in the quality of its infrastructure, after countries like Singapore, Japan, Germany, and the United Kingdom among others. Of course, it may not be a fair comparison since the U.S….
Hope for parents of college bound students
Jobs and jabs
Bank of America (BoA) has been tracking the credit card use of clients who received the stimulus payments authorized by the American Rescue Plan (ARP). For the seven days ending March 27, 2021, aggregate credit card spending was up 82 percent from a year ago. Where is the money being spent? Everywhere. Furniture stands out, which reflects the heated home-building industry. And then electronics, clothing, airlines, home improvement, and restaurants (in that order of year-over-year growth). The two-year percentage change tells a better story because the world came to a halt the week of March 27, 2020. For the seven…
Stocks grind higher as bond yields retreat
April is usually a good month for markets. Historically, it is one of the three best months of the year for equities. We all know what happens in May (‘sell in May and go away’) but we will worry about that later. Over in the bond market, the bond vigilantes may have started to doubt their conviction that inflation is a fait accompli and so yields must go up. This week, yields declined a bit, which gave a boost to some sectors (gold and silver, for example), while banks pulled back a little. But Friday’s Producer Price Index report for…
Water is becoming a rare commodity
America is running out of water. During the next 50 years, the nation could see its fresh water supply reduced by one third. But if you think that’s a problem for the next generation, you are wrong. This year alone, as many as 83 out of 204 U.S. water basins could begin to feel the brunt of these shortages. And don’t think these shortages will only affect those regions that we would expect to be dry. The central and southern Great Plains, the Southwest and central Rocky Mountain states, as well as the South, Midwest, and parts of California are…
How the Berkshire economy emerges from the pandemic
On March 11, 2020, the World Health Organization (WHO) declared COVID-19 a pandemic, and the economy rapidly changed for the worst. The impact on Berkshire County was larger than that of the nation. According to Moody’s, the gross metro product of Pittsfield was down 6 percent in 2020. That compares to a 3.5 percent decrease for the United States’ gross domestic product (GDP). On a relative basis, employment in the Berkshires fell more than the nation and has been recovering more slowly. Notably, payrolls in the vital tourism sector are down significantly. According to Google Community Mobility Reports, 2021 year-to-date…
Preparing Teens for Financial Adulthood
Learning how to properly manage money is a crucial life skill that can take years to develop. For teens who may be earning an income for the first time, there can be a steep learning curve when it comes to financial literacy. Laying the foundation for this education early can help establish healthy financial habits that carry into adulthood. You can guide your teen by teaching them the basics of money management at home to help them build a strong foundation of financial literacy and avoid financial pitfalls along the way. Foster a habit of saving Whether it’s an allowance…