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Though there has been a lot of good news being release recently indicating that we might be starting a recovery, we might have a little more rough spots before the good times are back. The stock market is rallying, housing construction and sales are starting to bottom out and big companies like Citigroup and Wells Fargo reporting better than expected profits, but whether you like it or not, there are still indications that the recession isn’t over. For one, the unemployment rate continues to...
•U.S. Economic Recovery on the Way
There’s a lot of doubt on the much touted US economic recovery, but as days go by, it seems the downturn which started in December 2007 has its roots in the mortgage industry, might be starting to become an upturn.
The Obama administration’s stimulus package together with smart government moves such as lowering of bank lending rate to record low levels and approving of programs to provide billions of dollars into the financial system is delivering encouraging results. Everything is on the...
•Is the Recession Over?
There are signs pointing to the beginning of the end of this recession. This past week, tons of information is being released, indicating that the Obama Administration's stimulus package might already be working. The stimulus package and other government stimulus measures such as lowering key interest rates and buying up bad loans has also helped consumer sentiment.
Hopefully these positive moves will get the consumer back to the stores and help get the economy back to an expansion phase. The...
•We Are Nearing the End of the Recession
Sixty four days into the Obama government and it seems the latest development in the overall economy points to an early economic recovery than most experts expected. Last March 24, Dow Jones Indexes organized a gathering of financial experts to assess the effects of the government bailout plan on the economy and they predicted that the recession will be over by the end of the year. Current news however indicates the opposite. The economic recovery may already be happening.
The government...
•Internet Usage and Making Money Online
Web search giant, Yahoo and consumer information group, Nielsen conducted a survey on the online habits of Filipinos. The survey was conducted on the months of October to November and involves 1,200 respondents. The results are very startling and most worrying.
The survey results showed that the country’s internet usage had increase from 23 percent in 2007 to 28 percent in 2008. Only has 22 million have internet access out of the 90 million or so population. The majority of users belong to the...
•Economic Crises
The steady stream of positive economic news may indicate that the US economic crisis might be nearing the end. Less than three weeks ago we witnessed the stock market plummeting to very low levels, the unemployment rate surging to it’s highest level in recent years and the housing industry hemorrhaging even more.
The Dow Jones industrial index is at its lowest just hovering at 6,926 points. The unemployment rate has reached a 26 year high, pegging at 8.1 percent for the month of February. The...
•The Real Estate Market
The Obama administration apportioned a large chunk of the $787 billion stimulus package to help the ailing mortgage industry. The housing plan involves extending $75 billion to about nine million Americans who are threatened to lose their homes via foreclosure. The US mortgage market is estimated to be $10,000 billion.
Barely a month from approving the stimulus package, the plan seems to have a positive effect already. On March 17, the Commerce Department announced that the construction of new...
•Has the Ecomonic Recovery Already Started?
Just more than a month since the approval of the giant $787 billion stimulus package, there are already signs that the economy might be recovering. The package which is a combination of federal spending and tax cuts will provide one-time rebates to about 111 million families, tax breaks to businesses and ease mortgage loan limits. The package is the Obama administration’s key for the economy's revival.
Just a few days back, the general public's mood was soured by the grim news of high...
•Has the U.S. Recession Bottomed Out?
The US housing crisis which has been pinpointed by most as the root cause of the current economic recession is finally showing some signs of recovery. Confidence in the current economy may have been bolstered by the approval of the Obama administration’s $787 billion economic stimulus package which was past in the first two months of President Obama taking office.
$75 billion has been allocated for the Homeowner Stability Initiative which was designed to bail out home owners threatened by...
•The Homeowner Stability Initiative
Last February 19 in the state of Arizona, President Barack Obama announced his $75 billion Homeowner Stability Initiative aimed at solving home foreclosures. This has surprised many as it was initially pegged at $50 billion only. The amount itself underscores the importance of housing problem in the current administration’s agenda. This Wednesday, the details of the plan were unveiled and were met with mixed reactions. Basically it involves three strategies:
1. First is to remove restrictions...
•The Best Way To Ladder A Certificate Of Deposit
Certificate of deposit rates are at or near all time lows. Current rates are just averaging about 2.0% so far this year. A year ago you could find one-year certificate of deposit rate of up to 5.0%.
Low certificate of deposit rates are mainly due to the Federal Reserve Bank lowering the Federal Funds Rate (the interest rate which banks lend their funds deposited at the Federal Reserve to other banks usually overnight) to historic lows. The current Federal Funds Rate is targeted between 0% and...
•Life Insurance As An Investment In Your Future
When my older brother suffered stroke and is hospitalized for almost a month, I experienced what it like is to have a family member as a patient. Suffering a stroke is a problem in itself, but add to that, the expenses, stress, the time and energy spent, you have a much bigger problem. If you are not prepared, you could be overwhelmed. This grim reality, prompted me to do something for myself.
Though I already have a life insurance, I decided to look for one more as the current life insurance...
•Savings Account and Insurance
Have you ever heard of a savings account that doubles up as a life insurance? With the right tools you can find great offers and promos in savings accounts. There are now lots of websites that allow users to search for the best saving account interest rates.
With these online tools and services, deciding which bank to open a online savings account, checking account or certificate of deposit account is a lot easier then walking into several traditional brick and mortar banks trying to find the...
•Making Use Of Your Credit Cards
The current financial crisis definitely has left a lot of people poorer, but there are still plenty of ways to fund your expenses. One good way is through credit cards.
First of all, it’s very easy to apply for credit cards these days. Some credit card providers do not require a credit card history. Second, having credit cards doesn’t mean useless spending, credit cards now offer cash back on purchases. So owning a credit card can actually be one way of earning money.
There are plently of...
•Certificate Of Deposit As Safe Investment Alternative
Are you one of the few who despite the financial turmoil has been able to save some cash? Do you have cash on hand because you sold the rest of your stock or mutual fund portfolio after watching it drop? If the answer is yes, I have one question for you, what are you going to do with it? With the stock markets down 40% or more, investing and making your savings grow has become a challenge. A safe investment for your money would be Certificates of Deposit or CD.
A CD is actually commonly called...
•Building and Maintaining Good Credit
Building and maintaining good credit is important to planning and managing your finances, the better your credit rating and score is the lower your interest rate will be on credit cards, mortgages and auto loans.
In fact, you might not even be approved for a loan if you have a bad credit history or score.Start out by getting a free copy of your credit score to see where you stand, you are entitled to one free credit report per year from Equifax, Experian and TransUnion, you can get your free...
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