DID YOU KNOW?
Credit card balances for Americans hit a record $1 trillion this year, according to a report from the Federal Reserve Bank of New York. But revolving debt, which mostly includes credit card balances, contracted in June as the US consumer puts the brakes on spending. Credit card interest rates are around 20% these days.... The average credit card debt in the US is approximately $5,733....at 20%, that's $95 in interest per month! (CNBC)
DID YOU KNOW?
If you built your house 55-years-ago like I did, it’s a one time outlay … and you get an inflationary expansion in replacement capital without having to replace yourself.” - Warren Buffet
DID YOU KNOW?
Higher wage earners are drawing on unemployment benefits at three times the pace of lower-income households, according to the Bank of America Institute. (WSJ)
DID YOU KNOW?
The average homeowner in the US stays in their home for about 13 years: If we are home-buying-age adults for roughly 40-50 years, that's about 3-4 homes in a lifetime. Your first home is almost never your forever home.
DID YOU KNOW?
The rich are getting richer.....in California! From the end of 2019 through 2021, California added more than 116,000 millionaire taxpayers, a record for a 2-year period, more than in the previous decade combined. Residents making more than $50 million surged 158% to 3,182.....and California’s billionaires added $270 billion in wealth. (Bloomberg)
DID YOU KNOW?
Foreign investment in the US soared over 43% in 2022 compared to 2012. fueled by government subsidies. The U.S., which is offering $369 billion in incentives and funding for clean energy is seeing a windfall of foreign investment. Germany's BMW just broke ground for a new battery plant in South Carolina. South Korea's Hyundai and LG announced a $4.3 billion battery plant in Georgia. Panasonic of Japan is building a plant in Kansas. (WSJ)
DID YOU KNOW?
Texas led clean energy installations with 9.2 GW installed in 2022, followed by California (4.7 GW), Oklahoma (1.5 GW), Florida (1.2 GW), and Nevada (0.9 GW). Texas is the state with the most clean energy in development, about 18% of the total development pipeline, followed by California (9%), New York (8%), Indiana (5%), and Virginia (5%). (FT)
DID YOU KNOW?
Are we becoming obsessed with the 'latest fashion' or are we programmed to adapt to new things faster? Netflix took 41 months to reach 1 million subscribers...Twitter, 24 months......ChatGPT took 5 DAYS.... currently we are in the fear-mongering stage of the cycle, and fear SELLS! Seeing the downside of new tech is always easiest, but the upsides of this accelerated AI intelligence may be exceptional in fueling efficiencies and saving time.
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