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Did You Know?
The U.S. used to lend out $100 for every $100 in deposits they held. But now, with all the restrictions, they only lend about $65 for every $100 in deposits. Tougher regulatory laws have made it difficult for banks to perform their functions and reducing these rules could help. But weren’t these rules put in place to prevent another (taxpayer funded) 2008 bank meltdown? Hopefully we get the balance right….
Did You Know?
A social media ban for children under 16 has passed the Australian Senate and will soon become a world-first law. The Senate passed the bill 34 votes to 19. The House of Representatives overwhelmingly approved the legislation 102 votes to 13. (CNBC)
Did You Know?
They told us GREEDflation was a myth.....well.... American, Delta, United, Frontier, and Spirit airlines together brought in $12.4 billion from seating fees between 2018 and 2023, a Senate panel report found. (NBC)
Did You Know?
Most (56%) Americans surveyed say their parents never spoke of money with them, though a striking 81% believe that they would have benefited from having financial education at an earlier age. (The Fidelity Investments State of Wealth Mobility survey)
Did You Know?
A recent survey revealed that more than 20% of “Ultra-High Net Worth Individuals” (UHNWIs) planned to purchase residential real estate in 2025. Nearly that number is expected to invest in commercial real estate, which is rebounding after a slow 2023. (FT)
Did You Know?
Qualified personal residence trusts (QPRTs) effectively freeze the value of a property for tax purposes. The homeowner puts the primary residence or vacation home in the trust and retains ownership for however many years they choose. When the trust ends, the property is transferred out of the taxable estate. The estate only has to pay gift tax on the value of the property when the trust was formed even if the home has appreciated by millions in value. QPRTs have become more popular in the past year as interest rate hikes confer another tax benefit. There are a few strings attached, so clients must consult with an attorney/financial advisor.
Did You Know?
The Tech Bro's want MORE power? The power needs of A.I. and cloud computing are growing so large that individual data center campuses could soon use more electricity than some cities, and even entire U.S. states, according to companies developing the facilities. Bitcoin requires a significant amount of energy, estimated to consume about 91 terawatt-hours (TWh) of electricity annually, which is more than Finland uses. Another estimate suggests that Bitcoin currently consumes around 150 TWh of electricity annually. The electricity consumption of data centers has exploded along with their increasingly critical role in the economy in the past 10 years, housing servers that power the applications businesses and consumers rely on for daily tasks. (FOX)
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