smickles

Will Americans Spend More this Holiday Season?

“Shop ’til you drop” might not play as well this year…

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While it is common financial advice to not spend beyond your means, surveys claim that people plan on spending less during holidays this year.

“shopping 2” by wolfgangfoto is licensed under CC BY-ND 2.0

However, the same survey finds that they plan to spend about as much on gifts as last year.

Historically, Americans spend over a thousand dollars on debt based purchases during the holiday season.

Holiday spending forecasts predict a lower than average increase in spending, about 1.5%, where the average is 4.1%.

This year, Thanksgiving is on the 26th of November.

Post Thanksgiving holiday shopping is expected to drag on longer than ever this year.

By Michael Carver
November 25th, 2020 5:55 PM

Featured Image Credit: “shopping 2” by wolfgangfoto is licensed under CC BY-ND 2.0

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UK Economy Worst Hit Since 1709

Wasn’t there a Dr. Who episode about that winter?

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Sovereign debt in the UK is now described as being at a peacetime high. The Country’s GDP is projected to continue to decline.

By historical standards, the economy has suffered the sharpest contraction since the Great Frost of 1709 at 11% this year.#SpendingReview pic.twitter.com/T36cDXyqjS
— Office for Budget Responsibility (@OBR_UK) November 25, 2020

Currently, the GDP is reported as still being upwards of 8% lower than pre-pandemic levels.

In 1709 there was such a cold winter due to sunspot activity that it caused economic depression.

UK treasuries currently have significantly lower yields than US treasuries.

Some are saying the emergency has just begun.

Unemployment is projected to reach 7.5%

By Michael Carver
November 25th, 2020 12:34 PM

Featured Image Credit: “UK Money – Coins” by Images_of_Money is licensed under CC BY 2.0

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State Linked Companies in China are Defaulting

What’s that got to do with the price of tea in China?

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Concerns about fraud and ‘malicious asset transfers’ rise as chinese companies with government ownership default on their debt obligations.

“China – Great Wall” by iNathan is licensed under CC BY 2.0

The credit markets of China are tightening up and it is affecting a wide range of things. Chinese regulators are now espousing a “zero tolerance” policy.

Earlier this year Luckin Coffee was delisted because of accounting fraud.

Biden’s pick for national security wants to encourage chinese business despite these issues.

Government involvement in the chinese financial industry prevented Ant Group from going public.

One of the recent defaults was a coal company.

By Michael Carver
November 25th, 2020 10:23 AM

Featured Image Credit: “China – Great Wall” by iNathan is licensed under CC BY 2.0

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UK Considering “Freedom Pass”

Papers, please.

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The former Health Secretary is supporting the idea that you need permission from the state to go outside. Floating the idea that you need to have tested negative for Covid 2 times in a week.

“Your papers please…Do you have your papers” by ATOMIC Hot Links is marked with CC PDM 1.0

While the details are yet to be rendered, the UK government is hopeful that this could lead to normalcy despite being substantially authoritarian.

This is the sort of thing that police states are criticized for.

There is already movement of people opposing the various Covid related regulations.

The UK government is still considering whether to cancel Christmas or not.

They are unsure about allowing an audience, but sports games are likely to be allowed.

By Michael Carver
November 21st, 2020 2:12 PM

Featured Image Credit: “Your papers please…Do you have your papers” by ATOMIC Hot Links is marked with CC PDM 1.0

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Library to Curbside Only

Please register in advance.

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Citing a significant increase in Covid cases and staff exposure, the Saint Charles City-County Library system will move to curbside only service.

“Wall of Books” by benuski is licensed under CC BY-SA 2.0

Outreach services and parking lot WiFi internet access will still be offered. However, the Kathryn Linnemann branch is still closed due to flood damage.

This library system has been up and running since 1973.

Curbside service isn’t, however, meant to function like a drive thru. The system asks that you place books on hold in advance and you will be notified when you can come.

Saint Charles County has recently been on about snakes.

In 1988, voters agreed to a 5 cent tax increase, partly, to help fund the library.

By Michael Carver
November 21st, 2020 9:01 AM

Featured Image Credit: “Wall of Books” by benuski is licensed under CC BY-SA 2.0

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New Cafe in St Charles

The city has been looking forward to business proliferating in Frenchtown

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Le Belle Vie is a cafe which got up and running this past September.

“Frenchtown St. Charles” by pasa47 is licensed under CC BY 2.0

They are open for breakfast, lunch, and dinner all week long.

Saint Charles has a Frenchtown improvement plan in the works.

While the cafe plans to expand their operation up to the border of the Katy trail, the ongoing Covid pandemic has been hitting small business most of all.

The next Historic Frenchtown Association meeting is on December 17th.

With an eye to the district name, they offer French Dip Sandwiches and French Toast. 🙂

By Michael Carver
November 20th, 2020 11:33 AM

Featured Image Credit: “Frenchtown St. Charles” by pasa47 is licensed under CC BY 2.0

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California Governor Orders Curfew

He promises he won’t enforce it, no really

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Starting Saturday, Californians aren’t allowed out of their homes at night so as to combat Covid spread despite strong criticism of the effectiveness of the strategy and the Governors hypocrisy.