Insights

From 1975 through 1982, inflation was the single most addressed topic in the Wall Street Journal (and I’m sure in virtually all other business media at that time). We have now gone over a generation barely mentioning it until this year. The resurgence of inflation numbers this spring has caused much angst. Is it a temporary phenomenon, as some believe, due to COVID, reflecting jammed up supply chains as the economy reopens? If this is the case, the “inflation” is not really inflation! Or, is it the beginning of a more persistent threat due to massive government spending and Fed accommodation, as others say? We’ll leave that question until another day. In the meantime, just what do the inflation numbers (up 5.4% in July, for example) mean?

When Tokyo won the bid for the 2020 Summer Olympics back in 2013, the estimated cost to host was $7.5 billion. With the games now underway, Tokyo has far surpassed that number. It is estimated that costs have exceeded $25 billion. This makes the 2020 Tokyo Olympics the most expensive in recorded history.1 It’s important to note that a sizeable amount of these overages, around $3 billion, is due to delays caused by the coronavirus.

For two weeks, all eyes will be on the 2020 Tokyo Olympics taking place July 23 through August 8. Over 11,000 athletes are slated to compete, even as the city faces a State of Emergency due to COVID-19. As we watch our favorite summer sports over the coming days, it's easy to see why we see athletes almost as superheroes. These men and women undergo years of rigorous training, develop astounding mental strength and achieve nearly perfect physical peak performance.

The CARES and SECURES Acts offered financial relief during COVID-19. And though some of the benefits of these acts are no longer in effect, some of the rules within them were enacted as permanent changes in 2021. In this article, we will look at how these changes affect RMDs in 2021.

A half century ago we all (unwittingly) became subjects in a vast global experiment, the outcome of which is still in doubt. August 15, 2021 marks the 50th anniversary of one of the most significant events in global financial history, though one which will probably go unnoticed outside a rarefied cadre of (mostly older) economists. On that date, President Richard Nixon, in a surprise move originating from a top-secret meeting at Camp David, took the United States off the gold standard, severing the ability of foreign governments to exchange their dollars with the U.S. at a fixed rate of $35 per ounce and launching us into the uncharted waters of unlimited fiat currency.

The travel industry has begun to see growing demand as we move closer to summer. However, not all travel will be the same, as much of the demand is directly related to the COVID-19 vaccine and reduced CDC restrictions. Instead, industry trends have emerged based on individual comfort levels as they apply to different modes of travel.