July 16, 2020

Holding Colleges Accountable

A report from First Trust Advisors, L.P.: It’s time to think about something other than COVID, statues, the election, and defunding the police. How about higher education? Specifically, student loans and grants. Just like the bipartisan efforts to making housing more affordable, these programs were well-intentioned. But, also like the housing market, they have led to serious problems. The US has about $1.5 trillion in student debt outstanding, more than subprime mortgage loans in 2007. We’re not worried these loans will cause a collapse in the economy, but they are a major burden that must be dealt with at some […]
July 9, 2020

The Economy and The Virus

A report from First Trust Advisors, L.P.: Not since the 1960s and 70s has the United States experienced social upheaval like it is experiencing today. We have protests (both peaceful and otherwise), and a massively divided political landscape. On top of that, we have a virus that is spreading across the country, creating fear and an acceptance of economic shutdowns. Originally, the scientists said we needed 15 days to slow the spread. These same scientists have consistently lengthened the time they believe keeping the economy relatively closed is a good idea. Yet, eventually, as the number of new cases of […]
June 11, 2020

The Recession Is Over (a report from First Trust Advisors, L.P.)

The recession that started in March is the sharpest downturn since the Great Depression. As it turns out, it was also the shortest. Friday’s employment report should leave little doubt that the US economy has already hit bottom and is starting to recover. Every economist brave enough to make a public forecast thought nonfarm payrolls would drop in May and the unemployment rate would continue to rise. Instead, it was the opposite: nonfarm payrolls rose 2.5 million, and the unemployment rate dropped to 13.3%. This doesn’t mean the US is fully recovered, or even close; a full recovery is going […]
May 29, 2020

Miscalculating Risk: Confusing Scary With Dangerous

As we continue to look at the data surrounding the coronavirus, it’s easy to have 20/20 hindsight. This blog released by First Trust expands on the discussion we sent you yesterday. Again, it’s a different perspective, one you may or may not agree with. We feel that it is important to consider as we attempt to re-order the disorder of this shutdown and shift the economy to what will become our new normal.   All the Best, Bryan A. Sarff, CFP® Founder & CEO ——————————   The coronavirus kills, everyone knows it. But this isn’t the first deadly virus the world has seen, […]
May 28, 2020

Signs of Economic Life

We are sharing this perspective from First Trust because we think it’s important for you to gain exposure to a perspective not often discussed by mainstream media.. Parts of it, you may agree with. Parts of it you may not. But this will aid you in developing your own informed opinion. All the Best, Bryan A. Sarff, CFP® Founder & CEO ———————————– This year’s experiment with government-imposed lockdowns has been a fiasco. We should have been focused on sealing-off nursing homes and limiting mass indoor events, while the vast majority of businesses that were shutdown could have kept operating, with […]
April 2, 2020

Breaking Down the CARES Act

We will be posting updates on all stimulus packages on True Wealth & Company’s LinkedIn Page.  To get notifications when we post updates, click on the link for the stimulus package you are interested in and choose to “Follow” the page.   Coronavirus Stimulus – Families Coronavirus Stimulus – Businesses   As you know, the coronavirus pandemic has created both a health crisis and an economic crisis. As of this writing, there are over 160,000 known cases.1 By the time you read this, there will certainly be more – and that number does not reflect those who have been infected but […]