Financial and Economic Brief - December 1, 2021

by © Liberty Publishing, Inc.

The Projected Growth for the US Economy in 2022

Many economic pundits provide annual projections for the coming year. And, a few even represent themselves as the Kris Kringle of the modern world, especially in December! However, the U.S. Bureau of Labor Statistics (BLS) has numbers that you may want to evaluate. Many remember the famous quote by former President Ronald Reagan, “Trust but verify”; excellent advice, especially when it comes to statistics. You also might be interested in what the BLS is saying about our country’s “New Normal” economy in 2022, and to some extent beyond.
more...

Are the Oil Companies Making Huge Profits While Americans Feel the Pain at the Pump?

Ask your friends, family and neighbors about how much more it is costing them to fill-up that SUV at the nearest petrol station. Many will say “plenty”. It is not always easy to learn what the major oil companies are doing and what their global energy strategy is. Many perceive the conversion from gasoline to electric vehicles as a major threat to oil companies. However, they may in fact be lining up to make major investments in the electric vehicle industry. Historians frequently site the example of the railroads. If they invested in the airline industry, rather than fighting a Don Quixote battle, they would have survived and made huge profits.
more...

The Economic Outlook for the Chinese Economy – America’s Largest Competitor

The IRS has recently released the new IRA contribution rates and limits for individuals, joint filers and those that are married and filing separately. There are many notable increases over 2021 contribution rates and limits based on inflation for both Traditional and Roth IRAs. Although we cannot really know what inflation rate was used by the IRS. Review the attached tables and notice that they provide side by side comparisons between ’21 and ’22.
more...

Latest News

Financial and Economic Brief - December 1, 2021

• Projected Growth for the US Economy in 2022 – Many economic pundits provide annual projections for the coming year.

• Are the Oil Companies Making Huge Profits While Americans Feel the Pain at the Pump? – Ask friends, family and neighbors about how much it is costing them to fill-up that SUV at the petrol station.

• The New IRA Contribution Rates Are Out for 2022; You’ll Be Happy to Know There Are Many Increases – The IRS has recently released the new IRA contribution rates and limits.

Financial and Economic Brief - November 1, 2021

• Current Status of Electric Vehicles in the US – In spite of the hype that seems to permeate around electric vehicles in the US, the current numbers are less stellar than one might think.

• The Rising Costs of Everything – What We Need and What We Love – Economists are raising an alarming inflation scenario that America has rarely seen before.

• The Economic Outlook for the Chinese Economy – After decades of double digit growth in GDP, the Chinese economy is beginning to show signs of slower growth.

Financial and Economic Brief - October 1, 2021

• Is the Rising Price of Oil a Reflection of Higher Demand? – Even with some pundits pushing the “Green New Deal”, consumers are still loving gas powered vehicles.

• The Revolution of Fast Food Restaurants using Robotics and AI is Upon Us! – The dilemma the fast food industry faces is the inability to hire enough for food prep. & clean-up even with a min. wage of $15/hr.

• The Fed May Now be Poised to Raise Interest Rates – We should think twice when trying to guess what the Fed will do with interest rates in 2022 & 2023.

Financial and Economic Brief - September 1, 2021

• A $3.5 Trillion Budget Spending Bill - PASSED the House – The House has narrowly passed a huge budget while also cementing in a date to pass a $1.5 trillion infrastructure bill.

• What is the Future of the Pharmaceutical Industry? – The worldwide value of the pharmaceutical is approximately $1.2 Trillion.

• 2021 Year-end Tax Strategy – Get a jump on filing your income taxes as early as possible this year since there have been many tax changes resulting from new tax legislation.

Financial and Economic Brief - August 1, 2021

• 2021 Q3 – The latest Economic Forecast? – Some economists and other pundits are forecasting a robust Q3 and Q4 for 2021.

• “For the 99.5% Act” strategically introduced by Senator Bernie Sanders – Recent legislation proposed by Senator Bernie Sanders will severely impede the estate planning efforts of many Americans.

• The E-Vehicle Revolution – When the Internet started, many didn't believe it would have unprecedented influence that took place over such a short period of time.

Request Information

Please let us know how we can serve you.




Contact Me

Beacon Financial Group, LLC

Cathy A. Jackson

535 N. Church Street, Suite 204
West Chester, PA 19380
ph: 484.844.7824
fax: 610.380.4714
CJackson@NEXTFinancial.com