Articles by Timothy Flacke
Though the U.S. economy is experiencing a historic expansion, stock market jitters and other recent developments have some economists predicting a recession. And according to Mariel Beasley at Common Cents Lab and Timothy Flacke at Commonwealth, cracks have been forming beneath the surface of the economy for a long time. They explore the surprising financial insecurity facing American households, and explain why short-term, liquid savings could help mitigate the effects of a future recession before it begins.
There should be huge returns to helping more Americans raise the range of their cash positions – their financial zone of operation, writes Timothy Flacke of Doorways to Dreams. In some cases, moving that range even $500 or $1,000 higher might mean less frequent use of costly short-term credit - which could help prevent short-term borrowing from becoming chronic debt, as is so often the case with payday loans. But how?