Author: Georgia McKoy

California is set to enforce a new law that prohibits undisclosed service charges, commonly known as “junk fees.” This legislation, signed by Governor Gavin Newsom, aims to ensure that prices displayed for services and goods, particularly in the restaurant and delivery sectors, are transparent and final. California’s New Law Takes a Stand Source: Nick Karvounis/Unsplash Attorney General Rob Bonta, who co-sponsored the legislation, emphasized the need for this law, stating that deceptive price advertising is a significant issue that affects consumer trust and market fairness. The legislation, Senate Bill 478, is poised to reshape how businesses, including restaurants and delivery…

Former President Donald Trump introduced a new nickname for Governor Gavin Newsom during a speech in Eagle Pass, Texas, referring to him as “New Scum.” Trump criticized Newsom’s policies in California, suggesting they attract migrants by offering free services. “You look at what this governor, Newscum, from California. Isn’t that his name, Newscum? What he’s done in California is unbelievable,” Trump stated. Trump and Biden’s Converging Border Visits Source: Wikimedia Commons While addressing immigration, a critical issue for the 2024 campaign, Trump and President Joe Biden had simultaneous visits to the Texas border.  Trump’s speech included strong remarks against Newsom,…

Millennials are on the verge of receiving an unprecedented transfer of wealth, amounting to $90 trillion in the United States alone, as reported by Knight Frank in their 18th annual wealth report.  This generational wealth transfer, primarily in property, positions millennials to potentially become the wealthiest generation in American history, marking a significant shift in the nation’s financial landscape. Millennials’ Financial Prospects Brighten Source: Todd Kent/Unsplash The Guardian reports that contrary to their portrayal as irresponsible spenders, millennials stand to inherit considerable assets accumulated by previous generations.  The research by Knight Frank demonstrates a forthcoming “seismic” windfall for those born…

Elon Musk’s Boring Company has been the subject of reports detailing severe working conditions where employees faced chemical burns from toxic sludge.  These incidents occurred during the construction of tunnels in Las Vegas, highlighting the risks that workers have been exposed to. According to Bloomberg, some of the chemical burns were so severe that employees described the sensation as being “on fire.” Boring Company’s Vision Source: boringcompany/X Launched in 2016, Elon Musk’s Boring Company embarked on an ambitious journey to transform urban transportation, aiming to alleviate traffic with an innovative underground transit system. Envisioning a future where the Hyperloop becomes…

Michigan Representative Rashida Tlaib is championing a legislative initiative that aims to offer financial support to emancipated minors and individuals under the age of 30.  This proposal is designed to assist these young people in overcoming homelessness by providing them with $1,400 each month over three years. Youth Homelessness in the United States Source: Wikimedia Commons Research has shown that over 3.5 million young adults and around 700,000 youth face homelessness annually in the U.S., with Black and LGBTQ+ individuals disproportionately affected.  The situation is worsening, as evidenced by a 17% increase in homelessness among 18 to 24-year-olds between 2022…

The stock market is currently mirroring the conditions seen before the dot-com and 2008 financial crises, according to David Rosenberg, a top economist.  He highlights the intense enthusiasm for artificial intelligence (AI), which has fueled a “raging bull market.” Rosenberg cautions that the “speculative mania” driving the stock market might soon reach its end, signaling potential risks ahead for investors. A Stark Warning from Rosenberg Source: EconguyRosie/X Rosenberg, president of Rosenberg Research, has also forecast a recession in 2024 that could eclipse the turmoil experienced in 2022.  In a LinkedIn post, Rosenberg highlighted the current market’s complacency, suggesting that the…

The Democratic National Committee’s Chair, Jaime Harrison, has publicly dismissed the notion of replacing President Joe Biden as the Democratic nominee for the upcoming presidential election as “certifiably crazy actually.”  His comment came as a direct response to a post on X, formerly known as Twitter, where a Biden supporter described the idea of secretly choosing a new nominee as “insane and frankly stupid.”  Growing Calls for Biden to Step Down Amidst Special Counsel Report Source: Tim,Jaime Harrison/X Following a report by US special counsel Robert Hur, which raised concerns over President Biden’s handling of confidential documents citing his age…

American consumers are actively resisting price increases in various sectors, showing a notable shift in their purchasing habits.  The reluctance to accept inflated prices is most apparent in grocery shopping, where individuals are opting for store brands over national brands, and in the automotive sector, where more consumers are choosing used cars over new. This shift is a clear indicator of the broader impact of inflation on consumer choices and the economy. Impact on Food Prices Source: Wikimedia Commons AP News reports that recent consumer behavior has forced large food corporations to reconsider their pricing strategies, slowing down the rate…

According to Joe Minnitte from Proof Principles Matter and the podcast Your Money Explained, drive-thru purchases are the first expenses individuals should consider cutting when trying to pay off debt. He highlights that, “The easiest place to start that typically has the highest return are food and drink consumables,” such as buying coffee on the way to work or a burger on the way home.  He notes that, on average, people spend $2,100 per year on coffee and approximately $3,000 per year eating out. Minnitte suggests that eliminating these expenses could lead to a significant annual saving of $5,100. Unnecessary…

One of the Costco membership options is the Executive Membership, priced at $120 annually. The Executive Membership comes with a notable perk: 2% cash back on most purchases made at Costco.  However, prospective members must carefully consider whether the benefits align with their shopping habits to determine if the upgrade is a sensible choice. Exploring Costco Membership Tiers Source: Wikimedia Commons Costco provides three distinct membership levels tailored to different needs: Gold Star, Business, and Executive.  While Business Membership is designed specifically for business owners, individual shoppers often choose between the Gold Star and Executive tiers. The Executive tier is…