Economy
Bitcoin to be Taxed as Property, not Currency
Just in case you missed this in the news this week, the Internal Revenue Service made a ruling that will have an effect on the future of Bitcoin (and all virtual currency). They ruled Bitcoin to be “property, not currency,” which thereby makes it subject to regulation in the United States. In case you’re not…
See Full Article Here ->PNC Survey: Brighter Days Ahead for Business Owners
The PNC Financial Services Group, Inc. conducts a semi-annual survey of businesses. Since the studies began in 2003, they have gauged the thinking among business owners pertaining to their overall expectations and the way they intend to conduct their business over the next half-year. The April 2014 survey paints a somewhat rosier picture than ones…
See Full Article Here ->Big Bank Stress Tests Provide Positive Results
Each year, the Federal Reserve conducts “stress tests” on banks to gauge their overall health. They want to see if a bank would be able to endure a lengthy, adverse economic scenario while still being able to lend to individuals and businesses. These tests were brought about by the Dodd-Frank Wall Street Reform and Consumer…
See Full Article Here ->Average student loan debt nears $30K
There is no question that a college degree is an integral piece of the puzzle on the road to finding a good job and rewarding career. For example, high school graduates with no college degree had a 17.9% unemployment rate in 2012, while their counterparts with degrees experienced a 7.7% rate (source). Unfortunately, a college…
See Full Article Here ->Low salaries of fast food workers cost us all in the long run
There are many people who would love to have a job… any job. But even if you have one, there’s no guarantee that you’ll be able to make it without some help. Fast food workers are the perfect example. A recent study by the University of California Berkeley Labor Center and the University of Illinois…
See Full Article Here ->US Postal Service defaults on $5.6 billion retiree benefit pre-payment
Even if the United States Postal Service is able to push through its proposed three cent price hike, it won’t be enough to make up for the gigantic shortfall that recently came due – and the USPS was unable to pay. Postmaster General Patrick Donahue warned everyone that they would be forced to default on…
See Full Article Here ->No Bad News for the Wealthiest One Percent
They say money doesn’t buy happiness, but America’s richest one percent might disagree. That’s because the chasm between the richest one percent of Americans and the rest of the country’s workers has gotten bigger … meaning the rich keep getting richer. In fact, that one percent cross-section took home just shy of 20 percent of…
See Full Article Here ->It costs HOW MUCH to raise a child?
Have you ever thought about how much money it takes to raise a child from birth to age 18? If you’re a parent you probably have, but you might not have been able to put a dollar figure to your question. Now you can. The United States Department of Agriculture has released some new data…
See Full Article Here ->Can you find a job? Yes. Can you find a GOOD job? Maybe not.
Is the economy turning around? Is the job market getting better? On the surface the short answer is yes … but when you take a closer look, your own answer will depend upon your viewpoint of the topic. The unemployment rate dropped in July, (source) and July was the 34th consecutive month the job market…
See Full Article Here ->Bernanke’s legacy will include more communication than his predecessors
It seems like Ben Bernanke believes the old saying, “Knowledge is power.” When his term as leader of the Federal Reserve is up in January 2014, one of the things people will remember most about him is his willingness to disseminate more information to the public than any of his predecessors (source). Want examples? He’s…
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