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At the Group of 20 Summit in Toronto days ago, the countries participating left with one common goal; to reduce the deficits in each country while not promoting that people hold onto their money and to spend it instead. It’s an interesting prospect, one that needs to be examined because of its unique scope. The [...]
The New York state budget is almost 3 months late. The state has financial issues, pretty much like all the other states, but it’s budget it tied into the stock market, and that’s not doing so well. Congress is split between both parties, and the majorities are slim. Nothing’s getting done; it’s politics as usual. [...]
Very little surprises me anymore when it comes to seeing that minorities suffer the most on many financial levels. First it was hearing that blacks and Latinos are taking the worst hit on unemployment than anybody else. Then it was hearing that black farmers still haven’t gotten money from the government that the Justice Department [...]
Finally a few more protections from the people who issued credit cards have gone into place. As of last Tuesday, laws were enacted that state if you make a late payment credit card companies can only hit you up for $25 late fee if it happens only once, and then no more than $35 if [...]
A news story by CNN Money came out and asked this question: Is A Housing Shortage Coming? Their premise is that, because of the housing industry issues that have plagued the country for a few years, that there aren’t enough homes for those people who are ready to buy either existing or new homes. Frankly, [...]
Should have seen this coming. Mortgage giants Fannie Mae and Freddie Mac, which has been run pretty much by the government since 2008, have been “asked” by the New York Stock Exchange to delist themselves and to stop trading stock. That’s because the prices have fallen very low, with Fannie Mae around $1 and Freddie [...]
The worst secret in the world at this point is the large oil spill in the Gulf of Mexico, courtesy of British Petroleum (BP). Actually, it’s a misnomer to call it a “spill”; it’s more like a “gusher”, because it continues coming out; the Exxon Valdez was a spill. One of the big questions that [...]