News From the Control Tower - 12/23/2021

News from the Control Tower: Our weekly curated list of news stories affecting you and your finances.

This week’s reads include:

1.       How millions of jobless Americans can afford to ditch work

One of the more insidious myths this year was that young people didn't want to work because they were getting by just fine on government aid. People had too much money, went the narrative.

Only trouble is, the numbers don't back it up.

Instead, early retirement — whether forced by the pandemic or made possible otherwise — is playing a big role in America's evolving labor market.

2.       Surging Inflation Has Workers Demanding Bigger Raises. Could It Lead to a Wage-Price Spiral?

Wage increases prompted by higher prices could protect workers while potentially fueling inflation, economists say

3.       The Age of Financial Misinformation

The increased information overload has led more people to abandon their due diligence simply because they don’t have enough time to process and check all of it.

4.       New Study Finds Clients Using Financial Advisors Are Happier

The survey from Herbers & Company found that individuals with assets exceeding $1.2 million and benefiting from the services of an advisor displayed far more satisfaction than those that did not.

5.       Wind power becomes Spain’s leading energy source for 2021

Renewable sources already cover almost half of the country’s consumption needs – so far this year, they have contributed almost 47% of the total compared to less than 30% a decade ago

Bonus: Poem: Musée des Beaux Arts