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Financial and Economic Brief - August 1, 2021

2021 Q3 – What’s the latest Economic Forecast?

Some economists and other pundits are forecasting a robust Q3 and Q4 for 2021. Their predictions are based on several market indicators, government agencies, and the Federal Reserve Bank. We still have a questionable labor market and higher inflation than was originally anticipated. The real question that many of these potential Nostradamus prognosticators propose is “how will the expansion of the economy as well as the money supply affect the economy over the next 12 – 18 months? Here’s an update.

“For the 99.5% Act” strategically introduced by Senator Bernie Sanders (I-VT)

Recent legislation proposed by Senator Bernie Sanders will severely impede the estate planning efforts of many Americans. Under the proposed legislation, the federal estate tax exemption, which is the amount of one’s estate that can pass free from tax at death, would be sharply reduced. The federal estate tax would apply at death to individual estates with assets in excess of $3.5 million. (The current lifetime exemption is $11.7 million per individual). Additionally, estates will be taxed based on a graduated tax table with the highest Federal rate being a whopping 65%!

The E-Vehicle Revolution – Speed and Execution

When the World Wide Web (WWW)/Internet started, many did not believe that it would have the meteoric rise and unprecedented influence that took place over such a short period of time. Comparisons are frequently faulty; however, every major car manufacturer is projecting a date certain as to when they will stop manufacturing gasoline and diesel-powered vehicles and only manufacture electric vehicles. Can we compare this rise to the rise of the internet? Technology has a way of developing all on its own. However, now E-Vehicles have the backing of every developed country in the world and billions of dollars are being targeted towards making the E- Vehicle Revolution happen. Experts say “happen it will”; and the speed at which it happens will be astonishing.

by © Liberty Publishing, Inc.

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