Is money management getting any better? How would we know? I wrestle with these and related questions in a story just published in the August 2010 issue of Financial Advisor magazine: “Searching For Progress: Financial innovation is under fire. Failing to beat the market is only one reason.”
Daily Archives: August 5, 2010
MORE TROUBLE WITH WEEKLY JOBLESS CLAIMS
Today’s update on weekly jobless claims isn’t very encouraging for expecting a big positive surprise in tomorrow’s news on nonfarm payrolls for July. And that’s the charitable interpretation. But judge for yourself: the latest number on new filings for unemployment benefits shows a rise of 19,000 last week, bringing the weekly total to 479,000—the highest since early April. The year is more than half over and still no sign of improvement in this metric. So much for a V recovery, at least as far as new jobless claims go.
A BULL MARKET IN SAVING
Seth Fiegerman at MainStreet.com wonders if the U.S. is overdosing on savings. “Americans are getting better with their money, but in the process, we may be undermining the country’s financial recovery,” he wrote yesterday.