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The Basics of Any Economy

Every society in the world owns some kind of economic system which includes the traditional, the command, and the market. All of these systems have distinct common forms of organisation namely, communism, capitalism, socialism or a mixture of them. Each system relates to one or more of these organisational set-ups and there are advantages and disadvantages. What basics make the best approaches?

Gravitating Towards Trade War Scenario – Fallout of Depression

US President Barack Obama has fired the first shot to initiating Trade War. Last week he goes on record saying “Simply put, export growth leads to job growth and economic growth,” This President Barack Obama opined while setting up an industry panel to achieve his ambitious target of doubling American exports in next five years. “This isn’t just about where American jobs are today. This is where American jobs will be tomorrow”, thundered the US President.

How to Make DC An Economic Powerhouse (Hint – Tax Less)

The economic crisis has forced state and local governments throughout the country to review their increasingly stressed budgets and seek new sources of revenue. In December, the District’s unemployment rate hit 8.8 percent, compared with the national rate of 7.2 percent, a 16-year high.

Help the Needy Whether They Deserve it Or Not

Have you ever seen a homeless person on the street corner with a sign asking for money? Have you worried about whether or not you should help this person or what they will really do with the money?

How to Help Those in Need When You Have Little Money

Many people are struggling these days. The economy has sent many people to unemployment lines or dipping into lifetime savings just to put food on the table.

Adam Smith, Well, He Was Right!

Right now we have a huge problem with the incestuous relationship of government and big business, where regulations are made to help corporations (thanks to lobbyists and campaign contributions) all in the name of protecting the economy and consumer, while giving a leg up for corporations over their small business competition (for products and for the overall consumer dollar). Thus, we end up creating barriers to entry, low job growth (small business employs 80% of the workers in the USA), and hardship, while allowing corporations to offshore, skip out on taxes, control whole sectors and market segments. That’s…

Slogging Through the Mud

Retail sales for June were down a disappointing -0.5%. This follows a revised -1.1% decline in May and was less than the consensus estimate of -0.1%. There can be no recovery without a robust increase in retail sales but inflation will remain low. Get ready for deflation!

The TARP Shuffle

In May, 2010, General Motors and the U.S. Treasury Department took the dance floor together for a turn at the “TARP money shuffle.” With much fanfare, the automaker’s chief executive officer Ed Whitacre announced that his company had fully repaid the bailout loans it received from the federal government. Five years ahead of schedule, no less.But, while the announcement may have made for good public relations, there was not much substance behind the corporate chest-thumping.

People Frozen in Time and Fear

What is happening to the American people? You know the people who go to work and support their families. Make their mortgage and rent payments every month. You know the American Dream. Now it’s like what I see is walking zombies. Where are the jobs? I hear all day long. I have never in my life seen so many people out of work at one time. Did all the jobs go out of the country? Isn’t there any left for you and me.

New Government Credit Report Initiative to Reduce Cost of Fighting Fraud

Recent legislation concerning personal credit reports is being widely welcomed by leading consumer groups. The new government initiative has meant that starting today, consumers will now be able to view their credit reports online for a one-off fee of £2.

This Economic Crisis Was Predicted

As was written in 1986: ‘The problem is not just the personal, corporate and bank leverage nor just the unprecedented national debt, current account and trade deficits but with the addition of the huge unfunded liabilities it takes only a small trigger to get the whole economy to collapse.’ The leaders of both Parties in both Congress and the Administration and the Federal Reserve Bank failed to see this intellectually obvious, economic crisis coming. After the economic crisis hit them, they all recognized and now confirm that it was excessive leverage, i.e. the ratio of the debt relative to the equity, that was the problem.

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