The Economy

No time to wait

Nobody knows when the pandemic is going to clear up. Some are saying there will be a vaccine soon; others are saying we will be dealing with masks, social distancing, quarantines and travel bans for years. I have decided to stop waiting for things to get better; it’s time to make the most of the present, regardless of the conditions we can’t control. [Continue]

The 2 percent solution: An argument for reparative investment

There are about 4,700 banks in America. Only 21 are Black-owned and they have less than $5 billion in assets. The total amount of assets in U.S. commercial banks is $20 trillion. So if you think about structural racism and access to capital — and 70 percent of African American communities don’t even have a branch bank of any type in those communities — we said, “Why don’t we think about how to address it?” [Continue]

Snapshot of Wisconsin student debt offers broad insights

Nationally, it’s widely reported that there are 45 million students who owe approximately $1.7 trillion in student loan debt. In Wisconsin, we have more than $24 billion in outstanding student loan debt, according to the Consumer Financial Protection Bureau. Making matters worse is the fact that the Financial Industry Regulatory Authority reports 53 percent of Wisconsinites live paycheck-to-paycheck each month. [Continue]

Navigating the pandemic

There is a “hunkering down” mentality among managers in this environment. That’s understandable. Almost no organization can realistically plan for record earnings this year. But let’s not close our minds to the possibility of opportunity. Despite a lack of precedent and a lack of information, you will need to make important decisions in the coming months to navigate this environment. [Continue]

The trouble with cash

The National Retail Federation has predicted a strong holiday shopping season. In its October survey, consumers said they expected to spend an average of $1,047, up 4 percent from what they had planned to spend last year. It’s the 10th consecutive year of increased consumer holiday spending. [Continue]