Author: Reporter

Donald Trump’s economic approach at the national level is becoming increasingly evident. His 2024 campaign was heavily financed by ultra-wealthy donors. Undisclosed donations to his campaign functioned as bribes. On November 26, Trump reached a required agreement with President Joe Biden’s White House to allow his transition staff to coordinate with the existing federal workforce before taking office on January 20. The congressionally mandated agreement allows transition aides to work with federal agencies and access non-public information and gives a green light to government workers to talk to the transition team. But Trump has declined to sign a separate...

President-elect Donald Trump threatened in November to impose sweeping new tariffs on Mexico, Canada, and China as soon as he takes office as part of his effort to crack down on illegal immigration and drugs. He said he would impose a 25% tax on all products entering the country from Canada and Mexico, and an additional 10% tariff on goods from China, as one of his first executive orders. The tariffs, if implemented, could dramatically raise prices for American consumers on everything from gas to automobiles to agricultural products. The U.S. is the largest importer of goods in the...

Mexico has been taking a bashing lately for allegedly serving as a conduit for Chinese parts and products into North America, and officials are afraid a re-elected Donald Trump or politically struggling Canadian Prime Minister Justin Trudeau could try to leave their country out of the U.S.-Mexico-Canada free trade agreement. Mexico’s ruling Morena party is so afraid of losing the trade deal that President Claudia Sheinbaum said the government has gone on a campaign to get companies to replace Chinese parts with locally made ones. “We have a plan with the aim of substituting these imports that come from...

More shoppers than ever are on track to use “buy now, pay later” plans this holiday season, as the ability to spread out payments looks attractive at a time when Americans still feel the lingering effect of inflation and already have record-high credit card debt. The data firm Adobe Analytics predicts shoppers will spend 11.4% more this holiday season using buy now, pay later than they did a year ago. The company forecasts shoppers will purchase $18.5 billion worth of goods using the third-party services for the period November 1 to December 31, with $993 million worth of purchases...

The narrative of a miserly, Scrooge-like figure hoarding his wealth for years instead of enjoying his retirement might seem unbelievable but unfortunately, it is not relegated only to fiction. It is a cold reality for many retirees. According to the Life Cycle Hypothesis, this should not need to happen. A retiree who is financially prepared for retirement should keep a consistent income in retirement, and her overall consumption should not change. WHO IS STRUGGLING TO SPEND THEIR RETIREMENT INCOME? About 25% of retirees fall into the camp of people who decrease spending during retirement. Moreover, research suggests this problem...