How low have we gone? Are we running so badly at this moment in time as a global economy that any news that isn’t bad news automatically gets translated as good news? There is an expectation among investors that the financial indicators of this week are weak, even bland, but better than expected. Perhaps such a sentiment could spur investors into loosening those purse strings and that won’t be such a bad thing at all, even if the results themselves weren’t something to thump your chest over and go to town singing songs of glee. It’s quite clearly a case of once bitten, twice shy. Investors that have already been burnt once really don’t want to see any of their money evaporate into a lot of nothingness a second time around. The brunt of this has been borne by stocks globally as [...]

Not many of you might support my views when I say banks should be governed properly, and there should be more government intervention to get banks under control. However, let us not come to any conclusion before discussing the topic elaborately. American economy, investments, currency, and future of our nation depend on how well we manage and run our financial system. In past, banks, in order to earn more profits, had taken steps that proved to be a big disaster. Yet, most banks show no remorse for economic crisis they were responsible for. And if they are left unchecked, it may lead to even worse situation. Where it All Stared? Introduction of Glass-Steagall Act after the Great Depression was one of the wisest steps taken by government, and it helped stable and grow the economy for more [...]

Whenever there is an economic blow, one of the first ones to get affected is the local economy. The hotel and retail industries are very vulnerable to bad economic conditions. But when a big event, like a sporting event, takes place in the affected country or city, it is expected to create some wealth for the city as there are more visitors to the city which is expected to boost business. Here are some ways in which the increased visitor traffic during a big sporting event, such as a World Series or a Super Bowl is going to boost up the economy of the host city. Hotel Bookings The first industry to see an increased business during a big sporting event is the hotel industry. The players, celebrity guests and outstation spectators will all need places to food and lodge and they book hotels [...]

According to experts, America is on a path to recovery. Okay, I ain’t any expert nor am I going to display current economic graphs to back their statements. Frankly, they are pretty boring unless it helps us, directly, or they talk about us. If you look at the current American spending habits, it seems that the country is on the path to frugality, if not recovery. However, if they become frugal, recovery is certain. So, how do I know America is being frugal? Simple. Look around you. You will notice the disappearance of extravagant habits and inhabitation of frugality. Here is what I have been noticing since past many weeks: Enormous usage of public transportation and carpooling:Gasoline isn’t cheap at all, especially during the days when we are jobless or adjusting at a lower paying [...]

When I talk about economy, what do you think it comprises of? It is an overall behavior of the total population or consumers. And you cannot deny when I say that much of this consumer behavior is based on the reports (or rather propaganda) of the media. You would definitely not have a bit of confidence in the state’s economy when you see the crashing stock market, increasing food prices, number of employees laid off each day, or every penny rise in the gas prices. Oh, it’s so horrifying. Or you have to be so damn rich that these major changes just don’t seem to affect you. However, I am talking about the majority of population that’s facing the consequences. But is it right to blame the media just because they give you price updates? Is it ethical to hold the media responsible [...]

The number of employees that are lucky enough to manage a raise this year is very low. I don’t really believe in predictions and forecasting, but if the same condition persists, the number could be much lower next year. How is it possible for you to manage a raise amongst thousands of individuals striving for the same appraisal? How are you different from the rest? Last night you met an old friend of yours who just got laid off. You have already met seven such guys this week. Forget about the raise, you are feeling fortunate enough to have a stable job, which you don’t want to lose by asking for an appraisal. It’s just not the right time to ask for it. You work even harder because you are not sure whether it’s safe to waste a single minute in such an environment. You think you are [...]

For years, America has been the financial super power of the world and New York has been the lead financial centre. But now, according to the World Economic Forum(Geneva) findings, London is the new world financial centre. Getting ranked by the WEF is no cake walk because you are competing with 55 nations on 120 criteria based on the sophistication, stability, business environment favorableness, equity and bond market size, technological infrastructure,  human per capita, and ease of loan accessibility. On all these factors, Britain seems to have scored good points even though its economical hardships were up from last year. Thanks to its foreign exchange and perfect insurance systems! The country has made it to the numero uno position majorly because of these factors. America on the other [...]

No, this time this is not about children getting financial aid in schools. It’s about you joining school once again to avail some benefits. Going back to school will not only enhance your CV which will give you an advantage over others in the highly competitive job market, but also get you great tax benefits for that. The American Opportunity Credit and the Lifetime Learning Credit are a couple of crediting systems that can get you good tax aids. But if you are too rich or you don’t satisfy the eligibility criterion, you can’t avail the credits. But you can still think of other ways to get benefits on your taxable income. You’ve got to think of availing some deductions. You can take a deduction fee on the courses you take up with the help of the Internal Revenue Code. No itemization [...]

The recession has made banks suffer upon investment and loan fees and now they’re making up for that by hiking their non-interest fees and charges. To your dismay, let me tell you that there’s still a long time before you can expect to see any changes in this situation. Banks do say that you can avoid these fees if you please them in a couple of ways and that is pay all your bills on time and don’t spend when your funds are very low. Form your end, you could always avoid all these high fees by indeed following the above two conditions strictly. Making late payments will always invite service charges. Overdrafts and insufficient funds (such as NSF) also invite a lot of charges. Increasing interest rates also invite higher charges. If you observe America is getting new financial norms [...]

Unemployment rate being 9.8 % is the highest in the present times. You might be an unemployed person, but you can always think about employing yourself one way or the other. You might have been given the pink slip by your employer but the world does not end there. Do you know that a lot of people are taking up two or more part-time jobs on a short term or long term basis to meet their financial requirements? A lot of people are finding freelancing lucrative. I prefer freelancing because I never liked office politics. Going to office involves a lot of expenditure. Transportation costs, cost of eating out, and money spent on clothes etc. is an overhead that I can prevent when working from home. Also, I don’t have strict timings of reporting in office and I can work even while on a holiday. [...]