Cheat Sheet Q & A:
I think you owe it to your listeners to explain to them what exactly the debt ceiling increase is. Most people don't know what it is.
Bottom Line: This is an excellent question / point. We did just jump right into this story back ground to the debt ceiling.
The debt ceiling is a product of World War I. Prior to 1917 taking on new debt wasn’t a common practice by the Federal Government. While we had accumulated some Federal Debt prior to 1917 it required an act of Congress to approve every bond that was issued for debt purposes. During World War I that proved to be inefficient during a time of international crisis. The result was a law enabling a debt limit, or debt ceiling, that would provide flexibility for the Federal Government to debt spend with a hard restraint to force negotiation and debate over future debt obligations.
It’s not unusual to have debate over raising the debt ceiling. The debt ceiling has been raised more than 70 times in our country’s history. In more than half of those extensions there have been policies changes associated with the debt ceiling increase. Less than half the time has Congress passed a “clean CR” which you hear the Democrats demanding. That’s actually the historical exception not the common outcome.
What is somewhat different about the debt ceiling debate this time is the debt ceiling approaching during a partial Government shutdown.
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September 2013 Report Highlights
· Goods-producing 3,530
· Service-providing 13,120
By Select Industries
· Natural Resources/Mining and Construction 2,840
· Manufacturing 690
· Professional and Business Services 2,970
· Trade, Transportation and Utilities 4,310
Starbucks offers free bi-partisan coffee:
Bottom Line: Starbucks
Twitter strikes Comcast deal. What it means to you:
Bottom Line: Twitter has been fast to move into TV as they’re getting ready to become a publically traded company. They just inked a deal with Comcast that is their most significant TV deal to date & it could change the way many, perhaps you, watch TV.
Soon if you follow certain TV shows on Twitter and you’re a Comcast customer you’ll be able to join a TV show live through the Twitter feed on whatever device you’re accessing Twitter from. We’ve already become an on demand society with regard to TV watching. This takes it to a whole other level for live TV on the go. Big win for Twitter, Comcast and consumers of both.
50% more millionaires will be created over the next 5 years - Will you be one?:
Bottom Line: Credit Suisse is out with its annual Global Wealth Report. The big takeaway… We’re on the verge of a world-wide millionaire boom. Over the next 5 years Credit Suisse is saying that we’ll create 50% more millionaires. The biggest growth will come in
Cities where income is growing fastest:
Bottom Line: Last week we were made aware that
Moto X - It's not just made in
Bottom Line: Thus far the Motorola Moto X has received more attention than any other smart phone they’ve released but it’s mostly been because of where it’s made. The Moto X is the first made in the
Prices for electric cars continuing to decrease:
Bottom Line: As is always the case with new technology, wait a little while and it will start to get cheaper.
My biggest objection to the first wave of electric vehicles wasn’t the need to plug them in for up to eight hours to charge or the mile limitations of each charge, it was the lack of value. There are two reasons to wait when new technology hits the marketplace. The biggest improvements happen between the first and second generation models and new technology becomes cheaper.
We’ve recently seen prices cuts on The Chevy Volt, Nissan Leaf and Honda Fit EV. Now it’s the Toyota Prius plug-in.