Facebook Twitter LinkedIn
Register for our daily updates!

Featured Advisor

Ed Meek
CEO/Investment Advisor

Edge Portfolio Management


State: IL

At Edge, a low client to advisor ratio allows for personal and customized service for each individual.  Our goal is to work as a team for each client to provide not only portfolio management but wealth coordination and financial planning.  We make every effort to have frequent communication with our clients and to provide timely response to calls and emails.  I also enjoy spending time with my wife and three kids, playing and following basketball, playing golf, and participating as an advisory board member for Breakthrough Urban Ministries.

Click to see the full profile

Share |

Economic Challenges Can't Cloud Fourth of July Celebrations

| BY Donald Liebenson

Here’s hoping America has enough hot dogs for everybody, because more Americans are planning to celebrate her birthday this year, according to a survey by the National Retail Federation.

More than 160 million people, or 67.6 percent of Americans will celebrate the Fourth of July by hosting or attending a cookout/barbeque and/or picnic. This is the most ever recorded in the survey’s history, the NRF said in a statement.

Americans can use a good party. Disappointing economic news (consumer spending was flat in May for the first time in six months, the Commerce Department announced Friday), escalating election-year partisanship, and the controversial Supreme Court ruling on President Obama’s health care law cast a cloud on Fourth of July celebrations.

But that’s not going to stop an estimated 115 million people from attending a fireworks or community celebration and another 35 million from attending a parade, the NRF forecasts. And perhaps because of the challenges the country is facing, Americans are rallying around their beleaguered country. More than 48 million people (23 percent) said they intend to buy additional patriotic merchandise within the next 30 days, a three percent increase over last year.

Americans will always rally around their country. A June Millionaire Corner survey finds that 70 percent of respondents said they are more likely to purchase goods made in America compared to before the 2008 economic crisis.  More than one-quarter (27 percent) said they will do this for patriotic reasons.

Eighty-four percent of Fourth of July holiday travels opt for the car, and automobile travel may get a boost from recent drops in gas prices, which are at their lowest level in five months. The national average price for a gallon of regular gas has dropped about .20 cents from last year, according to the AAA Daily Fuel Gauge Report. AAA is forecasting that about 35.5 million people—a 4 percent increase over last year—plan to travel by car this holiday weekend, setting a benchmark for the decade.

Overall, AA is projecting that 42.3 million Americans will journey 50 miles or more from home during the holiday weekend, a 4.9 percent increase over last year.


About the Author

Donald Liebenson


Donald Liebenson writes news and features for Millionaire Corner. He has been published in the Chicago Tribune, The Chicago Sun-Times, The Los Angeles Times, Fiscal Times, Entertainment Weekly, Huffington Post, and other outlets. He has also served as a marketing writer for Chicago-based Questar Entertainment and distributor Baker & Taylor.  

A graduate of the University of Southern California, he is married with a college-age son. He also writes extensively about entertainment.