On August 26, the Federal Deposit Insurance Corporation increased the number of banks it considers in danger of failure from 90 to 117 and responded indirectly to concerns about its ability to insure money on deposit at retail banking institutions. The FDIC is considering increasing the fee it charges retail banks to insure their . . . → Read More: FDIC Adds Twenty-Seven More Banks to “Troubled” List
When the economy is in a slump, for the vast majority of the population, discretionary income is often cut, leaving people to spend for necessities rather than luxuries. Save an elite few, art is generally considered a luxury or perhaps an investment rather than a daily need. But for those who make their living . . . → Read More: The Economy’s Affect on Artists: A Bifurcated Reality
On August 25, the U.S and Australian regulators agreed to allow brokers and exchanges to do business in each county while being regulated only by the their home country. This could start as early as January. For the United States Securities and Exchange Commission (SEC), this is seen as a step towards its goal . . . → Read More: Very Soon, You Can Invest in Australia
“Eat your vegetables,” my mother told me when I was growing up in America in the 1950s. “Children are starving in Europe.”
My mother’s postwar economic geography sounds comically antiquated today; she could never have foreseen a world in which the euro is stronger than the U.S. dollar. But in another sense she was . . . → Read More: Global Community Efforts That Will Improve the World
The Sarbanes-Oxley Act came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance following scandals like the collapse of Enron. It is mandatory and all organizations – large and small – must comply. It has raised the bar for public companies, and failure to comply can . . . → Read More: The Sarbanes-Oxley Act: Six Years Later
Energy concerns top many American’s list of what worries them most. With gas prices at over $4 per gallon in many places, food prices soaring and the debate regarding food-based biofuels raging, it may seem difficult to see a way past the energy conundrum we find ourselves in. The answer to increasing America’s independence . . . → Read More: Water-Based Energy May Make Food and Fossil-Based Fuels Unnecessary
I don’t count myself as a visionary, but there is a specter looming over mankind’s collective head, and I’m not sure if I can see how we can avoid it.
In my opinion, creating good artificial intelligence is just a matter of time. Already researchers have created a robot that uses a . . . → Read More: Will Robots Destroy Our Economic System?
Many companies have used tax shelters known as Lease In Lease Out (LILO) and Sale In Lease Out (SILO) to claim deductions. A string of recent court decisions are being seen as a major victory for the Internal Revenue Service in its fight to outlaw the use of such tax shelter. The IRS designated . . . → Read More: IRS Gets Upper Hand in Fight Against Tax Shelters
Death, taxes and government ownership of roads: all inevitabilities, right? Well, not according to Dr. Walter Block, professor of economics at Loyola University in New Orleans and senior fellow at the free-market Mises Institute. Dr. Block, whose most famous work, Defending the Undefendable, not only made a case for drug legalization but also argued . . . → Read More: “Privatize The Roads!” Says PhD Economist
One of the surest signs that we’re in a recession is the abundance of “We’re Hiring” signs at low-end service-sector places of employment. You’ve probably seen them around your town: fast food restaurants, video stores, retailers looking for new managers, etc.
How can this be? In a recession, shouldn’t businesses be laying people off?
. . . → Read More: Why Businesses Are Hiring Even During a Recession