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Even before high inflation hit people’s pockets many Swiss households were over extended. In 2020, almost one in six residents lived in a household with debt arrears, according to data released this week by the Federal Statistical Office (FSO). Photo by Pixabay on Pexels.com The most common overdue payments were taxes (7.5%), health insurance premiums (5.5%), phone bills (4.1%), utility bills (3.4%), credit cards and other loans (2.7%) and rent or mortgage payments...

Authorities have raised the spectre of winter rationing, should supplies be disrupted. © Keystone / Christian Beutler The president of the Swissgas industry platform says Switzerland is not aware of how fragile the situation is and that “it would not take much” to lead to a winter shortage. André Dosé told the External linkNeue Zürcher ZeitungExternal link (NZZ) newspaper on Thursday that looming gas shortages elsewhere in Europe and exploding prices amounted to a...

Crypto.com ist in den letzten Monaten nicht mehr aus den Schlagzeilen gekommen. Nachdem die großzügigen Zinsen und Cashback-Angebote viele Nutzer zur Plattform brachten, startete Crypto.com auch eine intensive Marketingkampagne, die unter anderem zur Umbenennung der Sporthalle der L.A. Lakers in Crypto.com Arena führte. Doch zuletzt waren es vor allem negative Schlagzeilen, die im Zusammenhang mit dem Anbieter die Medien dominierten. Crypto News:...

Overview: The resignation of a UK prime minister makes for high political drama, but the markets hardly moved on it. Sterling, like most of the major currencies, are recovering against the dollar today. UK equities are higher but are not really outperforming their peers. Asia Pacific bourses rallied, with Taiwan leading the way with a 2.5% surge. Europe’s Stoxx 600 is up 1.4% after yesterday’s 1.65% gain. US futures are around 0.25%-0.35% better. Benchmark bond...

Photo by Ahmed Muntasir on Pexels.com On 4 July 2022, Switzerland’s Federal Statistical Office (FSO) published June inflation data, which show prices 3.4% higher than one year ago, well above the Swiss National Bank target of 2.0%. Switzerland’s consumer price index (CPI) increased by 0.5% in June 2022, less than the 0.7% rise in May 2022. At the end of May 2022, annual inflation was 2.9%. By the end of June 2022 it was 3.4%, the highest since 1993. Big drivers of...

How would you like to waste a lot of the money you spend on Medicare coverage and miss a bunch of the benefits Medicare provides? Crazy question. But that’s exactly what’s happening to millions of Medicare beneficiaries. In October 2021, the insurance website MedicareAdvantage.com published the results of its most recent survey of Medicare beneficiaries. What it found was disturbing. Three out of four Medicare beneficiaries describe the program as “confusing and...

Empty supermarket shelves in Pokrovsk, Ukraine, on July 2 Keystone / Orlando Barria Switzerland will double its aid to Ukraine to CHF100 million ($104 million) by the end of 2023, Foreign Minister Ignazio Cassis announced at the Ukraine Recovery Conference in the Swiss city of Lugano. He also freed up CHF15 million to support the country’s digital economy. “Ukraine has to lead [its reconstruction] but we have to support it,” said Cassis, who also holds the rotating...

Black entrepreneurship in the United States has a remarkable history. Even during the inhospitable climate of Southern slavery, both enslaved and free blacks managed to establish lucrative ventures. Research on black entrepreneurship has revealed that in the Antebellum South black entrepreneurs’ pursuits spanned the entire gamut of industry, ranging from merchandising to transportation. Indeed, the success of some black entrepreneurs was so astounding that the demand...

Cause of the Boom-Bust Business Cycle The primary cause of the recurring “boom and bust” business cycle is central banks like the Federal Reserve creating money out of thin air. This was first explained by Austrian economist Ludwig von Mises over a century ago. His student F.A. Hayek won the 1974 Nobel Prize in economics for his work on this theory, which is now known as Austrian business cycle theory. The basic outline of Austrian business cycle theory is as...

Overview: The dollar jumped yesterday making new highs against most of the major currencies, including the euro, sterling, the dollar-bloc and the Scandis. The yen and Swiss franc held in better, but the greenback still closed firmly against the yen despite a six-basis point decline in the 10-year yield. The Swiss franc rose to its highest level against the euro since the lifting of the cap in early 2015. After opening sharply lower, the S&P 500 and NASDAQ...