Components of Aggregate Demand
May 14th, 2012
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Aggregate Demand is the total demand in the economy.
Want to Start a Small Business? Consider Where You Live
May 13th, 2012
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Its becoming increasingly popular to start a small business. After all, when the economy when down the tubes, many people realized that they didnt need to work for someone else; they could work for themselves. The fact that technology makes it so easy to start a business is also a major factor.
Whether you want to beat inflation with a solid investment, or whether you are replacing a lost traditional job, or whether you just want to make a little more money, its possible to start a small business. But you need to pay attention to where you are. Some states are more friendly toward starting a small business. Other states, however, are more difficult to deal with.
Grading States on Small Business Friendliness
Along with the Kauffman Foundation, Thumbtack.com conducted a survey about how friendly each of the states are to starting a small business.
‘Hard-Money’ Lending Law Misses Target
May 12th, 2012
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The Senate Committee on Business Professions and Economic Development and the Senate Committee on Banking & Financial Institutions have coauthored a bill that was initially designed to take aim at “hard-money” lenders in California, but experts say SB978 will sweep too many innocent borrowers and real estate investors into its net. Hard-money lending is when investment brokers take money from investors to make high-risk loans to others, and paying off the initial investor with the profits. Analysts say the current form of the bill requires copious filings for borrowers and brokers that hinder legitimate investment and slow good growth. For more on this continue reading the following article from JDSupra. Last June, reporters Charles Piller and Robert Lewis wrote this story about “hard-money” lending abuses in Nevada County. One migh Read more…
Categories: Financial Articles
Our credit cards worked in Europe. Mostly.
May 9th, 2012
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We just returned from 10 days in Italy, with a plane change in Zurich. After writing about the troubles some U.S. travelers faced using their credit cards overseas, I’m happy to report that we were able to use ours in most places with no problem at all.
Of course, we visited tourist-centric locales (Venice and Florence) where the merchants are used to seeing our old-fashioned magnetic stripe credit cards. Our U.S.-style cards are less secure than the “chip and PIN” model embraced by other countries, but restaurant staffs and shop clerks accepted them without a fuss.
There were a few exceptions:
- We were out of luck when it came to the automated kiosks at most vaporetto (water bus) stops. As I wrote in my column, such kiosks require the more secure cards. We br
Economics By and For Human Beings
May 6th, 2012
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“Economics puts parameters on people’s utopias.”
Yes. That’s exactly it. That’s why the politicians hate economics. That’s why the media are so selective in which economists they call on to talk about policy.
That’s why the economics departments in colleges are put down by the sociologists, philosophers, literature professors and just about everyone else who has romantic longings for a coerced utopia.
“The teachings of the principles of economics should inform as much on what not to do, perhaps even more than providing a guide to public action.”
That’s it again. Don’t control prices. Don’t socialize medicine. Don’t raise taxes. Don’t inflate the money supply. Don’t put up trade barriers
Wells Fargo Claims More Than a Third of Mortgage Market
May 5th, 2012
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Talk about dominating the market.
A new report from Inside Mortgage Finance revealed that San Francisco-based bank and mortgage lender Wells Fargo snagged 33.9% of the mortgage market in the first quarter of 2012.
It was the biggest residential mortgage market share in recorded history, and comes thanks to a huge drop-off by its closest competitor, Bank of America, whose appetite for mortgages soured in recent months.
BofA stopped both reverse mortgage lending and accepting loan applications from correspondent lenders, which shrunk their presence in a hurry.
[See the latest mortgage rates from dozens of lenders, updated daily.]
Instead of turning out to be the next Countrywide, they shifted their focus toward retail customers instead, focusing on quality over quantity it seems.
But with a waiting list of 90 days to refinance, Bank of America may be focused on other things, such as loss mitigation on all their existing mortgages.
Meanwhile, Wells’ market share increased from 30.1% in the fourth quarter of 2011 to 33.9% from the January to March period, which meant they originated roughly $130.5 billion of the $385 billion total.
Amazingly, no other lender came even close to Wells Fargo. I
A thorough guide on transferring money online
April 26th, 2012
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When technology is a part of our every day routine, electronic money transfer is one of its most promising innovations that allow sending and receiving money from any point of the world. Caxton FX Money transfer is widely used to send and receive the money from abroad. This service allows the use of a fast Internet connection in the transaction processing.
People need to use the internet every day so they often use the online money transfer to pay the bills, to make online purchases, and other personal payment transactions. However, not all people still know how to use the modern types of money transfer. Let’s explore the various features of electronic money transfer, including how to make this process more beneficial. Y Read more…