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Who wants to be a millionaire… for under $200? Come on, even your mom could afford that. Might we suggest a trip to the following places… 10. Zambia Exchange Rate: US$1 = 4,669 Kwacha Highest Value Banknote: 50,000 ($10.70) To give you an idea of how weak the Kwacha is, although there are still some […]
The Financial Times recently learned that the Financial Stability Board, a global regulator focused on the G-20, has created a list of 30 financial institutions considered systemically important in case of a future financial crisis. The companies on the list are likely to spread systemic financial risk around the world. To prevent contagion, regulators plan […]
Charles Goyette has spent much of his life thinking about money. He has contemplated how it works, how governments manipulate it, and how it stores value. Goyette, a radio show host, precious metals pro, and libertarian, shares his views on fate of the US dollar in “The Dollar Meltdown.” In his four-part book, Goyette details […]
Image: El Economista Oliver Williamson and Elinor Ostrom both won this year’s Nobel Peace Prizes in Economic Science. The New York Times has more on the research that won the professors their honors: Mr. Williamson’s work focuses on the boundaries of the firm, and the reasons for economic activity inside of firms: Why is there […]
This is a blog post by Drea Knufken. What’s the next big bubble? Green energy? Gun sales? Food? Nobody knows for sure. Based on our research, 12 new bubbles already show potential to make and ruin investors. The markets listed below range from bubble-in-the-making to ready to pop: 1. Gun sales Anticipating anti-gun legislation, certain […]
The federal government is ramping up the food stamp program by $20 billion. Now known as the Supplemental Nutrition Assistance Program, the expansion amounts to about 13 percent. This increased spending is hoped to stimulate the economy, but who will it really benefit? Emory University finance and economics professor told NPR: “This injection of funds ends […]
For some reason, the mainstream media has thus far avoided calling the current recession another Great Depression. Today, however, the Financial Times took a leap to the dark side with an article entitled “The recession tracks the Great Depression.” Here’s what they had to say: Two economic historians, Barry Eichengreen of the University of California […]
The social security stimulus package is on its way. The stimulus comes in the form of $250 checks for social security recipients. CNN reports: An estimated 50 million Social Security and Supplemental Security Income (SSI) recipients will receive their one-time $250 economic stimulus check starting in early May — several weeks ahead of schedule, Vice […]
In case vamping up the wardrobe is one of your your new year’s resolutions, I thought you may like to know about a little friend of mine called Recession Chic. (As opposed to the drearier Depression Chic). In short, less is more. The pitiful economy has fashion in a downward spin of less money, less […]
The Great Detroit Bailout of 2008 is nearing status as a done deal. Reuters covers the possible outcomes quite well. Coyote Blog and CFR have good reasons the bailout shouldn’t happen in the first place. I’m not going to focus on the many reasons giving a drowned man a lifesaver is pointless, because there’s something […]
Jaguar Land Rover, which sells swanky vehicles to affluent folks, wants a bailout of its own (Financial Times): Jaguar Land Rover (JLR), which is owned by India’s Tata Motors, said…that government intervention in the industry was required. Help was needed to improve liquidity in the supply chain, support continued investment in carbon-reduction technology and stimulate […]
This is a guest post by Steadfast Finances‘ Matt. The U.S. Government just handed out 700 Billion Dollars bailing out Wall Street, and now the major U.S. automakers are headed to Washington hat in hand asking for the same treatment. Why, you ask? Because they’re too large, too inefficient, and have essentially gotten their collective […]
