Archive for August, 2011

Back-To-School Shopping Tips

Posted on August 29, 2011 by Saldutti

The summer is coming to an end, stores are stocked with back to school supplies and the mall window displays are filled with the latest in fall fashions.  According to the National Retail Foundation, the average family plans to spend $606.40 on clothes, shoes, school supplies and electronics this year.  The back to school season has become the second biggest shopping season behind Christmas but many face challenges due to the current economic climate.  Cotton prices have soared resulting in retailers inflating the cost of apparel.  With the high unemployment rate and more downsizing expected, many households have tightened their…

Economists' Outlook Darkens: 30% Chance of Recession

Posted on August 16, 2011 by Saldutti

The chances of the economy slipping into another recession have risen significantly, and forecasts for economic growth and job gains over the next year have been substantially downsized, according to USA Today’s quarterly survey of top economists.  The 39 economists polled Aug. 3-11 put the chance of another downturn at 30% – twice as high as three months ago, according to their median estimates. That means another shock to the fragile economy – such as more stock market declines or a worsening of the European debt crisis – could push the nation over the edge. Yet even if the USA avoids…

U.S. Debt Downgrade – How Will It Affect Me?

Posted on August 10, 2011 by Saldutti

Lawmakers weren’t able to prevent the country from losing its coveted AAA debt rating.  Although the downgrade late Friday by Standard & Poor’s was historic, it wasn’t entirely unexpected. The three main credit agencies, which also include Moody’s Investors Service and Fitch Ratings, had warned during the fight over the debt ceiling that if Congress did not cut spending far enough, the country faced a downgrade.  And just like a lower consumer credit score implies that a borrower is a less reliable, a lower credit rating for government bonds implies there is more risk involved in lending money to the…

Freaking Out About the Economy

Posted on August 02, 2011 by Saldutti

All over America, restlessness and frustration are growing. It has now been almost three years since the great financial crash of 2008, and yet the U.S. economy is still a complete and total mess.  In fact, there are all sorts of signs that things are about to get even worse, and the American people are just about fed up.  Virtually every major poll, survey and measure of consumer confidence shows that the American people are becoming more pessimistic about the economy. We have never faced such an extended economic downturn in modern U.S. history, and a lot of people are…