While American citizens have been struggling with rising inflation over the past few months, corporations have reportedly netted record profits during the same period. Aftertax profits as a share of gross value added for nonfinancial corporations—a measure of aggregate profit margins—rose to 15.5 percent in the second quarter from 14 percent in the first, according…
American Corporations Rack Up Multi-Decade Record Profits Amid Rising Inflation
August 29, 2022
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Business & MarketsCompaniesCorporate Profitseconomyhigh inflationinflationlabor costsU.S. Bureau of Economic Analysis (BEA)USUS News
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US Corporations Rack Up Multi-Decade Record Profits Amid Rising Inflation
August 29, 2022
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Business & MarketsCompaniesCorporate Profitseconomyhigh inflationinflationlabor costsU.S. Bureau of Economic Analysis (BEA)USUS News
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While U.S. citizens have been struggling with rising inflation over the past few months, corporations have reportedly netted record profits during the same period. Aftertax profits as a share of gross value added for nonfinancial corporations—a measure of aggregate profit margins—rose to 15.5 percent in the second quarter from 14 percent in the first quarter,…
American Drivers Go Deeper into Debt as Inflation Pushes Car Loans to Record Highs
As vehicle prices rise amid inflationary pressure, Americans buying new cars are taking on higher loans and pushing themselves deeper into debt, according to credit-monitoring company Experian. Both the average loan amount and monthly payments for new and used cars have risen over the recent quarters, the firm said in an Aug. 25 news release….
Three-Quarters of Americans Making Plans for Dealing With Impending Recession: Poll
August 26, 2022
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Business & Marketsconsumer sentimenteconomic recessioneconomygen zhigh inflationMillenialsrecessionSocial IssuesUS
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More than three-quarters of American citizens are planning out steps to deal with a potential economic recession, results of the latest Bankrate poll show. While 69 percent of survey respondents were “worried” about the possibility of a recession before the end of 2023, 40 percent were “somewhat worried” about the possibility and 29 percent were…
Soaring Inflation Squeezing Sales in Dollar Stores
Dollar stores, which have seen more customers shop at their establishments amid rising prices, are now beginning to feel the negative effects of inflation. Dollar Tree and Dollar General, two of the leading stores in the United States, recently announced their second-quarter earnings. During the earnings call on Aug. 25, Dollar Tree CEO Mike Wytinski…
Red-Hot Inflation Drives Wealthier Americans to Shop at Walmart
Inflation has become such a problem that high-income-class Americans have begun opting for shopping items at destinations like Walmart. Walmart’s reputation as a discounter is attracting more upper- and middle-class consumers to its stores, said John David Rainey, the company’s chief financial officer, in a recent interview with CNBC. Budget-strapped consumers are “trading down” in…
Next Wave of Stimulus Checks Coming, Even With Inflation Nearing 40-Year High
Multiple states will soon be sending out stimulus checks and other financial relief, a decision that some believe will make the 40-year-high inflation even worse. In California, individuals will get up to $1,050 between October 2022 and January 2023 as inflation relief checks based on their tax filing status and income. The Colorado Cash Back…
Inflation Reduction Act Should Be Named ‘Exactly the Opposite,’ Will Have ‘Disastrous Effects’: Finance Professor
August 14, 2022
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Business & MarketscongressDemocratseconomic recessioneconomyhigh inflationinflationInflation Reduction Act of 2022Policies & ImpactsPoliticsstagflationUSUS News
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The Democrats’ Inflation Reduction Act will not reduce inflation as claimed and might end up harming the American economy, a finance professor said in an interview with NTD. “They really didn’t name this inflation reduction act correctly, it should be exactly the opposite,” Michael Butler from Stockton University said in the interview. The Act will…
Argentina Central Bank Hikes Rates to Whopping 69.5 Percent as Country Fights Soaring Inflation
The Central Bank of the Argentine Republic (BCRA) raised its 28-day benchmark interest rate by 950 basis points on Aug. 11, pushing up the rate to 69.5 percent. “The rise in the policy rate will help reduce inflation expectations for the rest of the year and consolidate the financial and exchange rate stability achieved after…
Median Price of American Homes Climbs Above $400,000 for the First Time
August 12, 2022
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Business & Marketseconomyexisting home saleshigh inflationhousing affordabilityMarketsmedian house pricemortgage paymentsUSUS News
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The median price for a single-family existing-home has crossed the $400,000 mark for the first time ever, according to the National Association of Realtors (NAR). Existing single-family homes had a median price of $413,500 nationally in the second quarter of 2022, a 14.2 percent increase from a year ago, according to an Aug. 11 news…
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