Category: Business & Economy

Hurricane Irma destroyed half of Florida’s citrus crop when it tore through the state earlier this month. Many of the affected groves of oranges and grapefruits were approaching harvest and their destruction has since help send the price of orange concentrate futures rocketing higher. Unfortunately, Irma only exacerbated the situation of declining output caused by an epidemic of “citrus greening” that’s in its twelfth year.

“Go to any large, high-density city like New York or San Francisco, and you’ll notice a difference in costs immediately. The price you pay for groceries, dinner at the restaurant, filling up your tank, or even your daily coffee goes up substantially… While this effect on costs is most evident in cities, it’s actually present throughout the country.”

The U.S. federal government just passed a record $20 trillion in publicly held debt. And, it will only grow higher unless President Trump and the U.S. Congress can agree to unprecedented spending cuts combined with tax increases. But when you look at another fiscal measure – the ratio of debt-to-GDP – the U.S. is not in the worst situation…

According to a recent note published by the Pew Research Center, Millennials now head more households living below the poverty line than any other generation and, in aggregate, represent nearly one-third of all impoverished households in the United States. 

America’s favorite rapidly-depreciating asset is now losing it’s value fast than ever… which is probably not good news for an auto market in which 25% people were already underwater by an average $3,635.