Wednesday, February 26, 2020

Here's Where The Money Goes (And Why Most Don't Have Anything Left)

Or maybe they do have it all. But when you find only a handful of people can achieve something, it's worth wondering how attainable it actually is. Like running a four-minute mile. In theory, any healthy person should be able to do it. In practice, most can't, even with intense training.

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Average income before taxes was up 6.9% between 2017 and 2018, which seems good at first. But it's an average, not evenly distributed, and the big gains tend to be among those who make the most. Median household income in 2018 was still $61,937, so a whole lot of people make much less than average.

Publisher: Forbes
Date: 2020-02-26
Author: Erik Sherman
Twitter: @forbes
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Other things to check out:

How scammers could use coronavirus scare to steal your money

The health of your wallet could be at risk as the new coronavirus spreads to new parts of the globe.

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The threat of the coronavirus is real, Nessel said in a statement, but there have been no confirmed cases in Michigan.

The U.S. Securities and Exchange Commission also issued an alert to warn of investment schemes that could pitch products or services that will be used to help stop the coronavirus outbreak.

A sign of a red flag is a small company, or what's called a microcap stock, which is priced low, relatively unknown and only makes very limited information available to the public.

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Publisher: Detroit Free Press
Author: Susan Tompor
Twitter: @freep
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New app could save you money, cut down on food waste | WOODTV.com

GRAND RAPIDS, Mich. (WOOD) — A new app could save West Michigan shoppers a bundle on their grocery bill while also cutting down on food waste.

It's called Flashfood — app developers say their program presents a win-win situation for both consumers and stores alike.

It's already been rolled out in five greater Grand Rapids-area Family Fare stores. The app allows customers to purchase foods at or near their best buy, sell by dates. Eating foods near or at those dates is completely safe.

Publisher: WOODTV.com
Date: 2020-02-26T11:54:36 00:00
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Congress warns Pentagon not to move money to fund Trump wall - Columbian.com

WASHINGTON (AP) — Lawmakers from both parties told Pentagon leaders on Wednesday that the Defense Department is undermining its own efforts to get military money by diverting billions of dollars for the construction of President Donald Trump’s U.S.-Mexico border wall

The chairman of the House Armed Services Committee and the committee’s top Republican warned Defense Secretary Mark Esper that overturning congressional funding decisions to shift money for the wall is an enormous problem that will have consequences.

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Publisher: The Columbian
Twitter: @thecolumbian
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And here's another article:

Cuomo asks lawmakers for $40M in emergency money to prepare NY for coronavirus - syracuse.com

Gov. Andrew Cuomo today said he will ask the state lawmakers to approve an emergency $40 million authorization as the state prepares to respond to the possibility of the spread of coronavirus in New York.

As of today, there are no confirmed cases in New York, Cuomo said today in a news conference in Albany. Twenty-seven people have been tested; 26 of those samples have come back negative, according to the state.

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"It is highly probable that we will have people in New York state that test positive," Cuomo said. "New York is the front door internationally. We have people coming here from across the world. We see how it is spreading and affecting different countries - Italy recently - and that will continue. Again, I think it is highly probable and no one should be surprised when we have positive cases in New York."

Publisher: syracuse
Date: 2020-02-26T19:57:10.235Z
Author: teweaver
Twitter: @syracusedotcom
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Billionaire Leon Cooperman says he just 'lost a lot of money' in a selloff sparked by a 'blemish'

Billionaire Leon Cooperman, in an interview on CNBC on Wednesday morning, admitted he's "lost a lot of money" this week, just like most investors, but at this point, he says he's a buyer in this market.

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Cooperman, while acknowledging he's no expert on outbreaks, remains confident that "mankind will conquer" the coronavirus problem and the clouds hanging over the stock market will clear by June.

He also seems to believe that the "socialist problem" will also go away when the final votes are tallied later this year.

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Publisher: MarketWatch
Date: 2020-02-26T11:50:00-05:00
Author: Shawn Langlois
Twitter: @624413
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Why Blame It On Coronavirus? It's All About the Fed's Free Money - RealMoney

Human beings always need to find a narrative to explain a phenomenon. It is a basic instinct, to understand, to rationalize, allowing us then to accept. The media and press commentators, sell-side analysts and traders all have been releasing a barrage of anecdotes to explain the recent market selloff. The S&P 500 rallied 18% since October 2019, but it has given up nearly 7% in just three days.

Similarly, in 2018, earnings grew 22%, yet the P/E multiple went from 21.4x down to 16.5x. What does that tell you about the market? A child's answer would be to say earnings do not matter, which, to be fair, would be entirely accurate in this case. What does matter then? The U.S. Fed's Quantitative Easing (oops sorry not-QE QE).

Publisher: RealMoney
Date: 2020-02-26T06:40:23.000-0500
Author: Maleeha Bengali
Twitter: @@TheStreet
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Man fails to get money after breaking into Youngstown Subway | WKBN.com

YOUNGSTOWN, Ohio (WKBN) — Reports said security video shows a man who broke into a Subway on E. Midlothian Blvd. early Tuesday morning failed to get any money.

Police were called about 4:20 a.m. to the sandwich shop to answer an alarm call. When they arrived, they found a rock had been thrown through the front door.

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Police in Boardman believe that the same man tried to break into Family Dollar on South Avenue. He wasn’t successful in that attempt either.

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Publisher: WKBN.com
Date: 2020-02-26T17:47:14 00:00
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