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  3. July 2018

July 2018

Trade War Explained

Submitted by Sound Financial Planning, Inc on July 27th, 2018

What to Make of the “Trade War”

The investment markets have been starting to get jittery about the escalating tit-for-tat tariffs and threats of tariffs that some economists are calling “America vs. the World.” Most investors are probably wondering whether new taxes on items flowing into and out of the U.S. really is something to worry about.

It is on several fronts. First, and most specifically, certain economic sectors will be big losers in an escalating tariff battle. When President Trump imposed tariffs on steel and aluminum imports, solar panels and washing machines, China responded with an equal dollar amount of tariffs on certain agricultural products, including soybeans, meat, fish, milk and cream, various fruits and vegetables, alcohol, dog and cat foot and cotton—all of which directly impacted the economics of many midwestern farmers (who China obviously presumes to be Republican voters).

Tags:
  • investment
  • markets
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Deficit Funding

Submitted by Sound Financial Planning, Inc on July 11th, 2018

Many were alarmed when, on June 5, the good people who run Medicare and Social Security released a report that said that the Medicare program will become insolvent in 2026 and Social Security will face a similar fate in 2034. The Medicare projection is three years earlier than the previous report, while the Social Security projection is unchanged from previous estimates.

These problems are not new, of course. People are living far longer than anticipated when Social Security was created in 1935; in fact, the average life expectancy for a person who managed to reach age 30 at that time was age 68 for men and 70 for women. Today it’s 79 for men and 82 for women. Meanwhile, Medicare has been hit with higher-than-inflation medical expenses—along with, of course, those longer lifespans. 

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Bill and Tammy are both CERTIFIED FINANCIAL PLANNER® professionalsBill Morrissey and Tammy Prouty are NAPFA-Registered Financial Advisors

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