Why Worry About Bank Failures?
Depositors Must Retain Confidence
Depositor confidence in the banking system is vital to the working of the modern economy. Banks lend out money assuming that they are not going to face a situation where all their depositors demand to withdraw funds simultaneously. At the same time, depositors entrust their money to [...]
Effects of Recession Aren’t All Negative
Coping with Unemployment
Millions of people around the world have fallen victim to the current recession. Business houses with international reputations have filed for bankruptcy and employees who were confident of their job security have been dismissed. While the experience of unemployment is common, the reactions of the unemployed vary widely. [...]
Unemployment Holding Strong, Jobs Won’t Return Until 2012
A long wait lies ahead
The ridiculously high national unemployment rate (9.8 percent) has convinced Congress to consider a bill that would allow people to collect unemployment for an additional 13 weeks. However, an unemployment extension of three months might not be long enough for many people.
CNN Money reports that the [...]
Debt Relief – When Should Governments Get Involved?
IMF Study Presents a Clear Blueprint (in Theory)
The global recession continues to batter our financial shores, and world governments are working non-stop to implement programs designed to restore the financial viability of borrowers and promote debt relief. There are numerous theories regarding just how government should go about assisting populations [...]
Foreign Fast Food Shows American Appetites are Recession-Proof
Growing fast and furious
Though higher-end restaurants are struggling as people try to scrimp and save, fast food restaurants in the United States are doing as well as ever. In fact, more foreign fast food restaurants are opening locations in the United States, even during this recession.
CNN Money wrote a series [...]
Is the Recession Finally Starting to Turn Around?
Companies starting to rehire laid-off workers
There are a lot of different factors that could be signs of the recession easing up. Though in some sectors we’re still seeing evidence that the recession continues to get worse, a few rays of hope are starting to shine through.
CNN Money reports that companies [...]
Freighter World Cruises For the Adventurer in You
Saving for a needed holiday
Everybody needs to get away sometime. We save our nickels and dimes throughout the year. We stockpile vacation time and cut corners where possible to ensure that we have that little bit extra to help us get away for a nice holiday. Now that we’re dealing [...]
John McAfee of McAfee Antivirus | Rich Become Poor?
In relative terms, anyway
This recession has put the proverbial shackles on the aspirations of people both rich and poor. The availability of credit is still moving at the pace of a slow crawl, while consumer spending is still searching for a way to pick itself up off the floor. But [...]
Trina Thompson Sues Her College Because They Failed Her
I say, “Go for it.”
Trina Thompson spent $70,000 in tuition for a degree in Information Technology from Monroe College in the Bronx, New York. Now that she can’t secure a job with her advanced degree, she has taken it upon herself to sue the university and get her tuition [...]
Franchise Owners Face Parent Company Bankruptcy
Franchisees left companyless
People say recession sparks innovation, creativity, responsibility, and all other sorts of optimistic-sounding things. It also causes failure, collapse, bankruptcy and all other sorts of apocalyptic-sounding things.
It also causes complications, such as leaving franchise owners to figure out how to deal when their parent company goes bankrupt. Sometimes [...]
The Secret Millionaire’s Club | Teaching Kids About Money
Making money education fun
What have we learned about the way people handle money lately? Loose and lazy seems to be the general rule in America, in that people don’t tend to plan as much for the future as they should and operate on instant gratification. Lack of impulse control is [...]
Watch your money – Ponzi’s back in business
Could Bernie Madoff be running a franchise operation?
Here we go again – the same headlines, the same accusations and the same agonized shrieks and violent threats coming from gypped investors. It all sounds so nice and familiar.
Virus Warning
If someone, anyone, whether his name is Ponzi, Madoff, Standford, Tannebaum or anything [...]
Payday loans are the remedy, not the malady
What ails us?
Thanks to some unreasonable and unjustified bad press, payday loans have come to be regarded in some quarters as a bad thing for consumers. Basic principles of economic science say that if we, as individuals or as a nation find ourselves in sudden monetary troubles, more often than [...]
A healthy mind and a healthy bank account
Health is not all about money
I went back to the gym this morning. It’s on the top floor of the mall across the street from where we live, convenient, clean and a nice clientele. I had been a regular there for some years and didn’t think it really did me [...]
When Noah built an ark… the original story
When the Kwok brothers built an ark… another story
Three billionaire brothers, the Kwoks, apparently took a long hard look at the melting ice-caps and rising waters of the oceans and decided that the time has come to build an ark. Not for them a naval architect to design the ship, [...]
Atlantis returns. Spacemen: no change in earthly recession
We saw no signs of the recession in outer space
I know that when I leave town on a 2-day business trip, I expect to find great changes when I return. It’s only natural; one leaves one’s own environment, flies off to a totally different place, there’s a change in the [...]
Could an entire town go bust?
Don’t put all your eggs into one basket
Pomigliano d’Arco is a town of about 40,000 inhabitants in Italy. It lies northeast of Naples and quite near to Mount Vesuvius, once the scene of some real fall-out. The town basically has one industry – automobiles. And it also has only one [...]
P.F. Chang’s Expands as Economy Contracts
P.F. Chang’s spreading to Mexico
Soon, residents in Mexico will be able to partake in the imitation Chinese tradition that is P.F. Chang’s. The American restaurant chain is expanding, and it struck a deal with Latin American restaurant operator Alsea SAB to open 30 restaurants in Mexico in the next 10 [...]
I put on my dueling glove and slapped him across the face
A copy watch is a respectable item in today’s climate
I sat at a meeting yesterday, one of about 50 people invited by the mayor to discuss the development of the proposed new park. How boring can a meeting be? First they discussed the site and then they discussed the access [...]
Consumers Look to Short Term Loans as Credit Cards Cut Limits
Consumers and short term loans
Short term loans are becoming a standard in today’s economy. Many people rely on supplemental income and resources to pay bills, however with the recession in full swing, those options are quickly dwindling. Maneuvering debt is becoming more and more difficult and shortfalls in cash are [...]
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