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 and [...]

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 job. [...]

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 because [...]

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 [...]

As the G-7 leaders meet the future of the dollar was of prime concern. If there’s been any issue that’s been topmost on the minds of the political leaders and the financially savvy in the present times, it’s been the value of the dollar which does not seem good owing to the bad economic conditions. With the world seeing a shift in the focus of world economy from America and the European countries to Asia, particularly China and India, the question  becomes all the more pertinent. There is an indication that economic power is shifting from the West to the Asian countries. Some economists predict that there might not be an actual shift of economic power, though it might temporarily appear to be so owing to the current recession which has been the worst since the last world war. According [...]

India is a fascinating country with the highest diversity in ethnicity, religious views, lifestyles and economic class. India can be called the spice of the world. America on the other hand is the superpower that is reining the world largely in economical, political areas. Since the recent recession that has badly hit the United States, the world is looking towards Asia as the upcoming greener pastures.   Today the US has some of the best Indian brains serving for it. Indian Nobel laureate Dr. Amartya Sen, an economist and Professor of Economics at Harvard University is one of them. Mint Blog has chosen to compare   the two on a huge range of dimensions that can be broadly classified into the economic, people, environment, military, and offbeat categories. Here I shall discuss the economic [...]

The after effects of the recession epidemic are showing up one by one now. You might have rejoiced over the news that the recession was fading but the Labor Statistics Report saying that unemployment has hit an all time high within the last six years this August is sure to dampen your soaring spirits. To add to that the unemployment perks have become chargeable now. Here’s a CNN report on that. Now, instead of issuing unemployment checks, many states are issuing prepaid debit cards to the unemployed. They want to save up on the printing and shipping costs involved with the unemployment checks. If you are unemployed you will be issued a prepaid debit card which you can use for availing your unemployment. The Labor Department reports that this is being adopted by 31 states. These cards may [...]

When was it last that you laughed to your heart’s content? Was it five months, two months, or two weeks? Though the fading recession seems to be giving us good reasons to laugh again, the past phase has made us almost psychotic with depression.  Stressful economy can depress you very much. Many of my friends have put on weight and if you go by the American Psychological Association poll you might find it hard to believe but 80 % of the people have suffered depression or failed mental health. Failed mental health as you know leads to a lot of physical complaints also. I second clinical Psychologist, Deborah Serani’s opinion on this. According to this New York mental health practitioner “When our financial bedrock is shaken, not only do the numbers dwindle lower, but so, too, does our [...]

The Obama Government reminds of the good ol’ Santa Claus who doesn’t seem to tire coming up with innovative gifts for us. After Cash for Clunkers, the government seems to have come up with a new goodie in its energy efficiency motives that allow you to exchange your ‘old and nagging’ domestic appliances like washing machine and the air conditioner for new energy efficient ones at a rebate. Now doesn’t this look somewhat similar to the cash for clunkers project? It looks as though the government is all set to dispose off junk from your houses and garages and abound them with new smart energy efficient utilities that will not only save you a lot of money on expenditure of resources but also keep the environment happy. Be geared up for some action from the state Departments of Energy [...]