The jobs report came in strong, and the fed raised interest rates. What’s more is that the Fed has made it clear that rates will be raised again.
Bottom line, is that this is the time to refinance any variable rate debt to fixed rate debt. If you are thinking of buying a home, do it now, rather than later. This is also the time to get those credit cards paid off!
This is also a good time to become a “saver.” The increase in interest rates means you’re getting more interest on your savings.
All in all, there seems to be a lot of optimism in the economy, and the fed wants to protect against inflation.
Check out this video from early this week with Gene Marks (same video as above if you caught it there):
Healthcare is also a big question mark. Premiums will continue to go up, mainly due to uncertainty about what will happen. When the dust settles, we’ll see what happens. People with less income will struggle. The best thing people can do is save (see above) so that you can cover your increased out of pocket costs in the short term.
On the flip side, this is good for business. If the healthcare changes pass, small businesses will save money, and have more flexibility in their budgets to spend money elsewhere.
And if you want a look at what is happening with the US, outside of the US have a look here:
G-20 Drops Anti-Protectionist Pledge as Trump Stance Goes Global
Robotics and automation – is your job safe?
— Gene Marks (@genemarks) March 13, 2017
I’ve also been noticing an uptick in reports around the web about robotics and automation. The comment here is not whether or not it will happen. It will. The question is over whether it will happen here in the US, or if other countries will beat us to the chase. And then who will be making the robots, that make the robots?
Uber bought the self driving truck start up, Otto, after a successful delivery from Fort Collins to Colorado Springs. These technologies are coming, and they will take away jobs? Yes. Is it unfair? I suppose that’s the debate, but this is nothing new. Technology has been replacing jobs for many, many years. What has happened in the past will happen again. Old jobs will be automated, and new ones will be created. The challenge is that, it’s the “skilled labor” jobs that are being replaced, or is it? One article I read suggested that real estate brokers and agents may eventually be replaced by automation. So there goes the theory that it’s only skilled laborers who are threatened. Other articles suggest that accountants will be replaced by automated processes.
Anything is possible, and any job could go away, but the real question is, how will you respond? How will you prepare? Will you prepare, or will you lay down and take the hit?
The moral of the story is keep learning, and keep evolving, and you will find ways to benefit from this, instead of being steam rolled.
Check out this article here:
Uber’s Self-Driving Truck Makes Its First Delivery: 50,000 Beers
Here’s a look at what happened around the web this week (with me):
On the Fundera Ledger:
On the BQE Blog