Author: Money Mechanics

Personal consumption expenditures (PCE) increased in all 50 states and the District of Columbia in 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. The percent change ranged from 8.1 percent in Florida to 4.7 percent in Iowa. Nationally, current-dollar PCE increased 6.4 percent in 2023 after increasing 9.8 percent in 2022 (table 1). PCE by state highlights Consumer spending on health care, housing and utilities, and food services and accommodations were the largest contributors to the increase nationally (table 3). Health care increased 8.6 percent nationally and was the largest contributor to growth in 33…

Even amid rising competition, Nvidia stock should continue moving higher. SoundHound’s revenue grew by more than 200% in its most recent quarter. Netflix’s increasing margins and long growth runway justify a lofty valuation. 10 stocks we like better than Nvidia › Investors have been very fortunate over the past couple of years. A tremendous run for technology stocks on artificial intelligence enthusiasm, investments, and rising long-term expectations has carried the broader stock market to impressive heights. But it seems the market has begun to cool off over the past week or so, with some of the top-performing technology stocks dipping…

Columbia reached a landmark deal with the Trump administration to restore federal funding for research, easing a crisis that has rattled the school’s faculty and undermined its leadership. The college will pay $200 million in penalties over three years to resolve multiple civil rights investigations, clearing the way for over $400 million in federal funding that was previously cancelled. This is excellent news for this college and hopefully sets a precedent for others to follow. We have been reporting on higher education papers for the last several months. We would encourage buyers to proceed with caution unless a strong underlying…

IMPORTANT NOTE: I wrote this article on Wednesday to be published Sunday while I am visiting family out of town. It appears that Vanguard has backed off on raising the bond minimum to $10,000, based on Boglehead discussions posted Saturday and today. The note announcing the change has been removed from the trading platform. If anyone gets further updates please post them in the comments. A rather ominous AI image for “Bond investors locked out of market.” Source: Google Gemini By David Enna, Tipswatch.com A few years ago, I was writing about bid-ask spreads for TIPS on the secondary market…

Economist Peter Schiff made a playful reference to the “Bitcoin obituary list” on Sunday where he ranked first for predicting Bitcoin’s BTC/USD demise 18 times.The Hall Of FameIn a X post, Schiff said, “At least I made the top of the Bitcoin obituary list,” a cheeky nod to his long-standing skepticism of the leading cryptocurrency.The list, satirically titled “Hall of Fame,” ranked critics based on the number of times they declared Bitcoin “dead.” Schiff was at the first position, with as many as 18 obituaries.The last obituary came in April when the gold bug predicted that the financial crisis of…

Thank you, Robin. And thank you for the opportunity to speak with you today on the important topic of housing and how housing fits in with the broader economy.1 First, I want to step back and say that housing—our homes—has a central role in our lives beyond what statistical reports capture. Housing matters greatly for our welfare because shelter is a basic human necessity. Our homes—be it city apartments, farmhouses passed through generations, or suburban dwellings—are among the most significant places in our lives. In terms of household finances, housing is an important source of wealth for many American families.…

Tourists take photos as they visit the Sagrada Familia basilica in Barcelona, on August 2, 2025. (Photo by Manaure QUINTERO / AFP) (Photo by MANAURE QUINTERO/AFP via Getty Images) Manaure Quintero | Afp | Getty ImagesSpain’s booming economy is outpacing its European neighbors as tourism, foreign investment and immigration helps fuel growth.The southern European country is still leading growth in the euro zone with annual gross domestic product forecasted to rise 2.5% this year, while the economies of France, Germany and Italy are respectively forecast to expand 0.6%, 0% and 0.7%.Spain’s GDP surpassed expectations in the second quarter, growing 0.7%, above a Reuters…

Andrew LernerCourtesy of Oppenheimer Name: Andrew Lerner Firm: Oppenheimer Location: Boca Raton, FL Team Assets (Custodied): $1.6 billion Background: Andrew Lerner grew up in Gainesville, Florida, and began his college tennis career at Jacksonville University before transferring to Florida Atlantic University. He graduated in 2013 with a finance degree and an insurance minor. Together with his college roommate and best friend—now his managing partner—he launched a wealth management group shortly after college. What started as a friendship-driven venture has now grown into an 18-person team managing approximately 600 households. “We don’t have a one-size-fits-all niche,” Andrew says, “because every client’s…

Medical debt continues to burden millions of consumers, and the CFPB has made addressing this issue a central focus of our work. We have examined the various factors driving problematic medical debt collection and credit reporting practices. A key concern that has emerged from this research involves the policies and practices of non-profit hospitals.These institutions are required to have financial assistance policies (sometimes called “charity care”) to help patients in need in exchange for the hospital’s non-profit tax status. However, the CFPB continues to hear complaints from consumers about medical bills from non-profit hospitals that raise questions about whether these…

The stock market soared on Friday, with the blue-chip Dow hitting a record closing high, after Federal Reserve Chair Jerome Powell pointed to a possible rate cut at the central bank’s next policy meeting in his remarks at the Jackson Hole Symposium. The “shifting balance of risks may warrant adjusting our policy stance,” Powell said, taking note of recent softness in the labor market. Source: Investing.com Despite Friday’s rally, Wall Street’s main indexes closed mixed for the week. The rose 1.5%, the gained 0.3%, while the tech-heavy shed 0.6%. The small-cap jumped 3.3%. More volatility could be in store in…