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Category Archives: Financial System

2016 American Household Credit Card Debt Study

NerdWallet analyzed data from several sources, including the Federal Reserve Bank of New York and the U.S. Census Bureau, to determine how much debt Americans are carrying, why they have so much debt and how this debt will grow and affect the U.S. economy in the future. As part of NerdWallet’s mission to deliver clarity for all of life’s financial decisions, we’ve scrutinized the results and provided tips for consumers to understand their debt, make room in their budgets and pay down their balances to avoid or minimize interest charges…”

Facebook CEO pens commentary – Building Global Community

Building Global Community –  Mark Zuckerberg, February 16, 2017 – To our community, On our journey to connect the world, we often discuss products we’re building and updates on our business. Today I want to focus on the most important question of all: are we building the world we all want? History is the story… Continue Reading

Fortune – New list of the World’s Most Admired Companies

World’s Most Admired Companies – “Which companies are most respected? Some 3,800 executives, analysts, directors, and experts voted—and here are the results.” “How we conducted the most admired survey – “As we have in the past, Fortune collaborated with our partner Korn Ferry Hay Group on this survey of corporate reputations. We began with a… Continue Reading

Total Household Debt Climbs to $12.58 Trillion, Approaches 2008 Peak

Federal Reserve Bank of New York – Household Debt Edges Up as Auto, Credit Card, and Student Debt Climb –  “The CMD’s latest Quarterly Report on Household Debt and Credit reveals that total household debt increased by 1.8% in the fourth quarter of 2016, rising $226 billion to reach $12.58 trillion, only 99 billion shy… Continue Reading

The moral dilemmas of the Fourth Industrial Revolution

World Economic Forum: “Should your driverless car value your life over a pedestrian’s? Should your Fitbit activity be used against you in a court case? Should we allow drones to become the new paparazzi? Can one patent a human gene? Scientists are already struggling with such dilemmas. As we enter the new machine age, we… Continue Reading

Report – Corporate interests rack up earnings at expense of budget for national parks

“…America’s national parks should be owned by and managed for the benefit of all Americans. However, corporate interests have been steadily attacking and whittling away at that idea. Hotels, food service providers, gift shops, and other concessionaires, such as Delaware North, are profitable businesses in the national parks. The top-four concession holders in national parks—Aramark… Continue Reading

Federal Spending for Means-Tested Programs, 2007 to 2027

“CBO projects that, if current laws generally remained unchanged, federal outlays for mandatory means-tested programs (programs and tax credits that provide cash payments or other assistance to people with relatively low income or few assets) would grow over the next decade at an average annual rate of 4.3 percent, whereas spending for mandatory non–means-tested programs… Continue Reading

CBO – Projected Costs of U.S. Nuclear Forces, 2017 to 2026

February 14, 2017 – “Nuclear weapons have been a cornerstone of U.S. national security since they were developed during World War II. In the Cold War, nuclear forces were central to U.S. defense policy, resulting in the buildup of a large arsenal. Since that time, nuclear forces have figured less prominently than conventional forces, and… Continue Reading

The Influence of Gender and Income on the Household Division of Financial Responsibility

The Influence of Gender and Income on the Household Division of Financial Responsibility, By Marcin Hitczenko. 2016 Series.16–20 Research Department Working Papers – Federal Reserve Bank of Boston. “Most previous research on household dynamics has focused on how married couples divide responsibilities for “housework,” a broad category that generally includes routine cleaning chores, child care,… Continue Reading

Census Business Builder

“Are you looking for data to help you start or grow a business or understand the business landscape for a region? The Census Business Builder (CBB) is a suite of services that provide selected demographic and economic data from the Census Bureau tailored to specific types of users in a simple to access and use… Continue Reading

Monetary Policy and the Federal Reserve: Current Policy and Conditions

CRS report via FAS – Monetary Policy and the Federal Reserve: Current Policy and Conditions, Marc Labonte, Specialist in Macroeconomic Policy. February 7, 2017. “Congress has delegated responsibility for monetary policy to the nation’s central bank, the Federal Reserve (the Fed), but retains oversight responsibilities for ensuring that the Fed is adhering to its statutory… Continue Reading

Minimum Wage and Corporate Policy

Gustafson, Matthew and Kotter, Jason D., Minimum Wage and Corporate Policy (January 2017). Available for download at SSRN: https://ssrn.com/abstract=2914598 “We provide evidence that minimum wage changes significantly affect the investment and financing policies of labor intensive public firms. Our identification strategy exploits cross-state and intertemporal variation in whether a state’s minimum wage is bound by… Continue Reading