http://houstonbusinessdaily.com/advisor/Rick_Ray Wed, 10 Dec 2008 13:41:27 +0000 http://backend.userland.com/rss092 en Orders for durable goods in the US declined 6.2% last month, the biggest monthly decline in two years.  Additionally, consumer spending declined 1%, in spite of a modest increase in personal income.  Revised US GDP in the 3rd quarter was down .5%, the worst decline in seven years.  Consumer spending ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=33     Recent News 11.24.2008 President elect Obama was expected to name Tim Geithner as his Treasury Secretary Friday, which led to broad market rallies on Friday, after the S & P 500 had given up nearly 14% last week.  Hillary Clinton is expected to be named Secretary of State.    President Bush urged ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=32 Recent News 11.10.2008 The jobless rate increased for October to 6.5%, with 240,000 jobs being lost in the month, and September’s job losses were revised upward from 156,000 to 284,000. This was the worst two-month slide since 2001, and the highest jobless rate since early 1991. A poll of economists’ forecasts ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=31 Last week the Federal Reserve lowered the Federal Funds rate to 1%. They plan to lower rates again in November. US GDP was down .3% in 3rd quarter 08, revealing we are in a recession. Germany, Spain, Britain, and Italy all reported contracting economies for their 3rd quarter 2008 also. ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=30     Consumers weighed in on the economic data last week.  The University of Michigan’s confidence gauge fell to 57.5 in mid-October, from a reading of 70.3 in September, the sharpest one month decline since 1952.  Also, Retail spending declined 1.2% in September 2008, the biggest drop in more than three years.  ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=29 After the S & P 500 fell 18%, its worst week in its history, (worse than the first week of the Great Depression of 1929, or the week of the 9/11 terrorist attacks), the G7 finance ministers met over the weekend and announced a coordinated response to the world banking ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=28 Over the past five years, exchange-traded funds (ETFs) have grown from a small niche of the investment market into an important new way to invest. According to the Investment Company Institute, investors can choose among more than 400 ETFs, and the ETF industry accounts for more than $400 billion in ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=25 Not long ago, “retirement” for many people meant living on a combination of Social Security and a fixed pension. Today, retired people are living longer and better, and they also are making more personal choices. Most retired people want to “live it up” in their golden years, not watch life ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=24 As Americans keep living longer, they are being challenged to find income sources that can be counted on for as long as a person lives. Social Security currently promises such an income, as do many pension plans. To supplement these sources, individuals can purchase immediate annuities from insurance companies.   Immediate ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=23 In the coming years, one of the most important debates in America will be over health care in general and specifically whether a “universal health care” system is politically and economically feasible. Until that debate is resolved, the U.S. will maintain a medical insurance system with many moving parts. Choosing ... http://houstonbusinessdaily.com/advisor/Rick_Ray/?p=22