President Joe Biden is urging federal banking agencies to consider a series of reforms that would “reduce the risk of a future banking crisis” and refrain from penalizing community banks, says a White House official. Speaking in a call with reporters on Thursday, the administration official confirmed that the president is recommending reinstating rules and…
Choosing Between Look-alike ETFs and Mutual Funds
By Nellie S. Huang From Kiplinger’s Personal Finance When faced with a choice between buying shares in an exchange-traded fund (ETF) and buying shares in a mutual fund that follows a similar strategy, which is the better option for you? “The choice isn’t always black and white,” says Charles Rotblut, with AAII, which helps individual…
Red State Residents Have Lighter Tax Burdens Compared to Americans in Blue States
March 30, 2023
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Red states maintain their lead when it comes to lower tax burdens compared with blue states. Tax-filing day is coming up on April 18, leaving many taxpayers worried about how it will affect their finances, as many are still struggling as a result of the pandemic and higher prices. WalletHub, a credit score site, released a…
When the Ship is Sinking, Get Everybody In the Lifeboat
Dear Mary: My wife and I made a terrible mistake and bought a house that I don’t think we can afford. We dumped all of our money from the sale of our last home into it and now we have run out of money. It is not even close to being done. My wife is…
Rising Bank Impersonation Scams Pose New Threat for Australians
Authorities have warned Australians to take precautions against fake text messages pretending to be from banks as more victims report losing their life savings due to sophisticated scams. According to the Australian Competition and Consumer Commission’s (ACCC) Scamwatch, there were 14,603 reports of bank impersonation in 2022, resulting in a loss of $20 million (US$13.34…
Softening Inflation Brings Small Relief to Australians in February
March 29, 2023
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Australia’s monthly inflation rate decreased for the second consecutive month in February, providing a small but much-needed relief for households struggling with rising living costs. According to new data from the Australian Bureau of Statistics (ABS), the monthly consumer price index rose by 6.8 percent in the 12 months to February, down 0.6 percent from…
Closing Prices for Crude Oil, Gold and Other Commodities (Mar. 29)
March 29, 2023
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Benchmark U.S. crude oil for May delivery fell 23 cents to $72.97 a barrel Wednesday. Brent crude for May delivery fell 37 cents to $78.28 a barrel. Wholesale gasoline for April delivery fell 4 cents to $2.67 a gallon. April heating oil fell 11 cents to $2.66 a gallon. April natural gas fell 4 cents…
AI Could Eliminate 300 Million Jobs, Warns Goldman Sachs
March 29, 2023
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Artificial intelligence (AI) could lead to the elimination of 300 million full-time jobs, according to a new study. A March 25th report by economists at Goldman Sachs Group (GSG) stated that improvements in AI technology may cause almost a quarter of existing positions in the United States and Europe to be replaced, but that new…
Tips for a 1st-Time Home Buyer
Dear Dave, I’m 20 years old, and I’m planning to buy a home in the next year. Besides having a 20 percent down payment, what other tips do you have for a first-time home buyer? Also, is there anything I need to guard against when it comes to buying a house? —Jacob Dear Jacob, I’m…
Social Security Rumors Don’t Pass the “Look, Sound, and Quack Test!”
I’m sure you’ve heard that old saying that goes something like this: “If it looks like a duck, walks like a duck and quacks like a duck—it’s a duck!” Well, I offer you another version of that old chestnut. And it goes like this: “If it looks like a crazy Social Security rumor, sounds like…
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