A Look at America's GDP and National Income

 Jason Finney has served as a credit analyst with RJ O’Brien and Associates in Chicago since 2018. Shortly before completing his BA in economics and German at the University of Michigan, Jason Finney performed macroeconomic data analysis as an intern with the German Institute for Economic Research.

Macroeconomics is a field of economics that deals with the behavior of large-scale economic systems, including various elements of national productivity such as gross domestic product (GDP) and national income.

GDP can be defined as a nation's overall mark value based on all goods and services produced within its borders. When combined with overall data points, such as national income, GDP can provide a broad overview of national productivity and economic health. In 2021, America's GDP approached $23 trillion. In the third quarter of 2022, the US GDP increased by 2.6 percent, compared to a 0.6 percent decrease in the prior quarter. The GDP has increased by roughly $6.25 trillion since 2012.

Gross national income (GNI), meanwhile, represents the total amount of money earned by a country's residents and businesses. Like the GDP, America's national income experienced a small dip in 2020, falling about 3.58 percent, but finished 2021 at an all time high of $23.39 trillion, or $70,430 per capita. America's GNI has more than doubled since 2005.

An Introduction to Credit Scores

 Jason Finney has served as a credit analyst with RJ O’Brien and Associates in Chicago since 2018. As a member of the nation’s oldest and largest independent futures brokerage firm, Jason Finney provides credit analysis support for brokers and commercial, institutional, and individual investors.

Credit scores represent numerical values ranging from 300 to 850 that denote an individual’s ability to repay loans and other lines of credit. The higher a credit score, the easier it becomes to secure loans for significant purchases such as automobiles and real estate.

Any score below 629 is not ideal for analysts and loan officers. However, individuals can take steps to improve it. Credit scores between 630 and 689 receive an average rating, while scores between 690 and 719 are above average. Credit scores of 720 or higher have an excellent rating and access to various loan options or credit cards with favorable terms and interest rates.

According to The VantageScore and FICO, the average American has a credit score between 695 and 719. Paying bills on time and keeping outstanding debts low as possible help improve scores. Credit scores also depend on credit age. Therefore, individuals benefit from start building a credit history as early as possible.

Two in three Americans have a good FICO score, while about 21 percent of Americans have a score of 800 or higher.

Hiking Options in and around Chicago

Based in Chicago, Jason Finney has served RJ O’Brien and Associates as a credit analyst since 2018. When he is not providing the company with credit analysis support, Jason Finney enjoys staying physically active by hiking.

The city of Chicago provides hiking enthusiasts with a number of trails to choose from, both inside and outside the city limits. When it comes to hiking in the city, the Lakefront Trail is a local favorite. While the paved, mostly flat trail has been rated easy for hikers, it stretches nearly 18 miles, providing hikers with a healthy workout. That said, hikers should feel comfortable taking on smaller portions of the trail as it weaves through various downtown hot spots, scenic beaches, and other attractions. Additional hiking trails within the city limits include The 606 and the Lincoln Park Trail.

For those willing to travel, the Waterfall Glen Forest Preserve provides 11 miles of hiking trails just 25 miles outside the city. As the name implies, the location features multiple waterfalls, as well as a bluff providing views of Sawmill Creek. While the forested hiking trails are quiet during the winter months, the preserve welcomes cross-country skiers. After completing the Waterfall Glen Forest Preserve, traveling hikers may be interested in taking on Midewin National Tallgrass Prairie or Kankakee River State Park.

3 New History Books to Read in 2021

Jason Finney is a Chicago-based credit analyst at RJ O’Brien and Associates, where he has worked since 2018. In his free time, Jason Finney enjoys reading and learning about history.

History buffs know that there are few things more satisfying than a story that is both well-told and true. Here are some history books to look forward to in 2021

Nuclear Folly: A History of the Cuban Missile Crisis by Serhii Plokhy

This book studies the relationships between John F. Kennedy, Fidel Castro, and Nikita Krushchev as the Cold War was reaching its peak. Plokhy draws on White House tapes and formerly classified KGB documents to pull together an authoritative recounting of these fraught relationships.

The Bomber Mafia by Malcolm Gladwell

Weaponized aircraft was originally conceptualized to upset the enemy without causing too much bloodshed. However, WWII’s atomic bomb attack resulted in the deaths of thousands. Gladwell examines the morality of warfare and tracks how technology can be rerouted.

Lincoln in Private by Ronald C. White

Abraham Lincoln was a meticulous notetaker, and now, for the first time, his thoughts and ideas are compiled into one single volume. White also examines 12 of Lincoln’s most significant pieces of writing and gives readers a more intimate understanding of one of the most influential figures in US history.