What It Means When the Fed Changes Interest Rates
The Federal Reserve has been changing “interest rates” over the past few months and most people I talk to don’t know what that means or how it works. Here is a simple explanation.
First, a basic understanding of commercial bank regulation is needed.
Banks are required to have a certain amount of reserves in the form of […]
Kiva.org Microloans
A couple of months ago I made two $25 loans on kiva.org. This week I received notice that both of the entrepreneurs have repaid 10% of the total loan commitment.
I am excited about this for a number of reasons. First, I have become convinced that micro credit is the best way to bring the third […]
Economists Don’t Predict Recession, Which Is Why We Are Headed For One
Most economists aren’t predicting a recession for the American economy in 2008, which is exactly why we are going to have one.
According to the Economist’s briefing on the American economy, it is very likely the US will see a recession in 2008, but even if it doesn’t it will still feel like one. This is […]