News
61% of Americans are living paycheck to paycheck — inflation is still squeezing budgets
The battle against inflation is not over. As of July, 61% of adults still said they are living paycheck to paycheck, according to a new LendingClub report, slightly more than last year’s 59%. Yet, recent releases show that, at least compared with the soaring inflation of a year ago, consumers who have been squeezed by higher prices should be experiencing some relief. June and July both saw easing in the pace of price increases, with core inflation up 0.2% for each month, according to the U.S. Bureau of Labor Statistics.
Visa, Mastercard are about to make changes customers really won't like
Visa (V) - Get Free Report and Mastercard (MA) - Get Free Report are preparing to increase the fees they charge merchants when customers pay with a credit card, according to the Wall Street Journal. The increases are set to start in October and April, respectively. The increase to the fee structure could cost merchants an additional $502 million in annual fees, CMSPI, a consulting agency, told the Journal. CMSPI further estimated that the increase in network fees will make up only about half of that $502 million; the other half, the firm said, will come from increases in swipe fees, which merchants pay whenever a customer pays with a credit card.
Rothbard on the Ukraine War
My title seems odd. How could Murray Rothbard comment on the Ukraine War, when he died in 1995? Of course, he can’t comment on current events. But the principles this great thinker wrote about tell us what he would say about today’s American foreign policy. He would tell us to stop sending money and arms to the Ukraine and to end all sanctions against Russia. What goes on in that region is none of our business. Getting involved risks a nuclear war that would destroy the world.
Grayscale Faces ‘Instantaneous’ Fee War in US Bitcoin ETF Race
Fresh off a pivotal win in court this week, Grayscale Investments LLC may soon find itself in another fight: the $7.5 trillion US exchange-traded industry’s never-ending contest over fees. A ruling Tuesday overturned the Securities and Exchange Commission’s decision to block Grayscale’s bid to convert its $17 billion Bitcoin trust into a physically backed ETF. While the action potentially paves the way for the firm to attract a fresh wave of investors, there’s just one thing: The product carries a 2% fee in its current form. That compares to an average of 0.54% across US-listed ETFs, and 1.48% for crypto exchange-traded products globally, Bloomberg Intelligence data show.
From Joe
Join me at The Stock Pulse Silver Symposium
I'll be speaking at The Stock Pulse Silver Symposium and I'd love to see you there. We'll be at Caesars Palace in Las Vegas from September 29 - October 1. There will be comprehensive sessions, networking opportunities, and top-notch speakers. On top of all that, everyone who attends will receive a one-ounce silver round. I'd love to grab a drink with you, and I hope to see you there.
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