Most people almost never meet the villain in an economic story. They don't shake its hand, see its face or shout at it directly. Yet every person in America has spent the last five years living with it, staring it down every day in grocery aisles, at gas stations and inside their mortgage bills. That villain has a name: inflation.
The history of tariffs in the United States is a complex tale intertwined with the country’s economic development, politics and international relations. Immediately after the Constitution was ratified, the first U.S. Congress passed the Tariff Act of 1789. Its primary purpose was to generate revenue for the new government and pay off war debts, but it also aimed to protect young U.S. industries from foreign competition.
Inflation, defined as the general increase in prices and the corresponding decrease in the purchasing power of money, is measured by indexes like the Consumer Price Index (CPI) or the Producer Price Index (PPI), which tracks the price of goods and services over a fixed period of time. While moderate inflation indicates a growing economy, high or hyperinflation can lead to many economic challenges.
The existence of the United States Dollar (USD) as the primary reserve currency to the world financial markets has been a subject of discussion and debate among various institutions, groups, and countries for many years.
The U.S. Central Bank, commonly known as the Federal Reserve Bank, has origins extending back to 1791 when the U.S. Congress chartered The First Bank of the United States. It was the country’s first attempt at a central bank. But in 1811, the charter for the First Bank was not renewed.
Will America face another banking crisis like 2008? The answer to this question truly depends on the future actions of the Treasury Department, the FDIC, and the Federal Banking Committee, which currently controls our interest rates.
Proper planning will almost always ensure successful results. Lack of planning will result in unanticipated consequences that could have been easily avoided and may prove detrimental to the continued existence of the company. I am writing this article to provide specific insight and direction on preparing your business for the future.
Joe Pantozzi is the CEO and Founder of Alpha Omega Wealth, a Financial Professionals Firm in Las Vegas Nevada. He helps his clients build wealth without Wall Street.
Six months have passed since the global pandemic first triggered a tidal wave of financial panic across the country. The ripple effect is affecting people’s livelihoods, their life savings, and their homes, and making it almost impossible for many to keep their heads above water.
This article was printed in the Spring 2020 [...]
