It’s election year 2012. The U.S. Presidential contest has taken its role front and center in the national consciousness, and election years often mean uncertainty for business and the housing market. Also, we discuss the ongoing repercussions of the euro crisis. And as usual, providing personal finance advice, real estate advice and consumer advice on the Ilyce Glink Show January 8, 2012 on WSB Radio.
Welcome to the Ilyce Glink Show, the 2012 edition! I am so excited to help you spend less and save more this year. My goal is provide you with information that will help you make thoughtful, intelligent decisions about where you want to go with your money.
Some of that might be complicated by the events set to play out in election year 2012. The Iowa caucuses are behind us and the Republican candidates are ready to move onto New Hampshire. Election years are famous for leaving businesses and consumers in an ambiguous position as the nation waits to see which party will assume control of the Oval Office and the two branches of Congress.
That said, this may be the year, finally, when we start to work our way up from the depths of the Great Recession. Here are some hopeful signs:
- The national unemployment rate dipped to 8.5 percent in December 2011, the lowest number in three years. This was spurred by the somewhat surprising addition of 200,000 non-farm jobs to corporate payrolls. However, there are indications that some (or many) of these jobs may be seasonal. We’ll have to wait for the January numbers. At the same time, November figures were revised downward, reflecting only 100,000 positions added that month.
- The stock market rose 142 points this week, closing at 12,359.
- The IRS is officially open for business. Are you ready to do your taxes?
While we are receiving this bundle of cautious good news Stateside, we continue to keep a close eye on the euro crisis. This week’s developments:
- The euro is trading at a 16-month low against the dollar. Cashing in a single unit of the European currency will leave you with $1.20.
- There are some reports that Greece might return to the drachma. While this would be great for Greek tourists, who would suddenly be faced with the travel deals of a lifetime, this could be bad news for the EU.
- The European Central Bank (ECB) has resumed buying Spanish and Italian debt as the euro crisis continues to worsen.
You can get more personal finance advice, real estate advice and consumer advice by listening to this radio show and by listening to my other radio shows. Simply download them to your phone or audio player. You can also read our articles on real estate, credit, and consumer advice articles as well.