Personal Finance

Bank Account Mergers: Yours, Mine or Ours?

8 April 2011. You can be in a relationship and still be single, financially. Couples in long term and serious relationships who put off marriage for their careers and a myriad of other reasons, don’t think twice about neglecting to discuss joint financial arrangements – or bank accounts. Even though one of the most common causes of a relationship breakdown it turns out, is: money.So, where do you start? What are shared and joint finances in a relationship all about – and what do you need to do, and know to protect yourself? After all, you’ve worked hard to earn your money, invest it and maintain a squeeky clean credit rating and record. One wrong move, by either party could wreck both of you financially.

Featured Articles

Reliance "Family Tower" Highlights Mumbai Wealth Gap

25 January 2011. 27-floor tower is new family home of India’s richest person, Mukesh Ambani, son of founder of Reliance, India's biggest & most powerful company. Even in Mumbai, where residents bear daily witness to stark extremes of wealth and poverty, it is so spectacularly over the top, the city’s already elastic boundaries of excess and disparity are stretched to new dimensions. But it is only one of many high-rises insulating rich from the teeming metropolis below. “This is a gated community in the sky. It reflects how the rich are turning their faces away from the city.”

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Bailed-Out Wall Street "Gives Thanks" w Lavish Spending

25 November 2010. Two years after Black September 2008, Wall Street’s moneyed elite are breathing easier again. Goldman Sachs, Morgan Stanley, Citigroup, Bank of America & JPMorgan Chase have set aside $89.54 billion this year to pay employees. Bonuses will be up 5% across all financial services companies, w those in asset management getting 15%. So when it comes to personal indulgences, the wallets are opening up. “Wall Street is back spending as much if not more than before,” says a cosmetic plastic surgeon. Christie’s says buyers who fell out of bidding market during 2008 meltdown are “pouring” back in. Bidding for summer Hamptons rentals is "hot & heavy". Guess this is what's meant by "trickle down" economics.

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Nasty Battle Looms Over Public Sector Pensions

24 August 2010. By David Caploe PhD, Chief Political Economist, A classic tragic battle of right vs. right: public employees dependent on private companies as ONLY source of $ to insure retirement at previously agreed-upon rate vs. public whose own economic present & futures are in grave doubt. It seems these two will pay for mistakes made by credit rating agencies / greed of TBTF banks, whose leaders often sat on boards of govt pension funds, & influenced investment decisions / & politicians, from Presidents on down, who assured everything was just fine. Since none of them seem likely to pay, it’s left to two groups – who aren’t in that different positions – to fight it out: a public rightly worried re their own economic situations, present & future, vs. public employees, who, whatever their flaws, had little say in decisions determining how they would live in retirement.

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US Housing Mess Creates Picky Buyers, Broken Deals

29 June 2010. Preliminary data indicates the US housing market began swooning immediately after the government’s $8,000 tax credit expired. In some places, sales dropped more than 20 percent from May 2009. Construction of new homes in May dropped 17.2 percent from April, significantly lower than forecast. Permits for future construction dropped 10 percent, suggesting a cruel summer. Not surprisingly, now buyers are wielding the heavy upper hand.

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Ten Things You Probably Don't Know About Credit Rating Agencies

15 June 2010. By David Caploe PhD, Chief Political Economist, Economy  Credit ratings agencies have become increasingly visible during the Euro-zone sovereign debt crisis. Despite this, they remain a relatively unknown and, as we discovered, almost impenetrable world unto themselves that, nevertheless, can have a huge impact on the financial fortunes of both countries and companies. To help make this mysterious universe a bit more accessible to our readers, we tried to do some research about them, and, despite what are clearly their best efforts to keep themselves and what they do hidden, we were able to come up with some points of interest that we'll now share with you. Hope it helps.

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Sixteen Facts About Growing US Income IN-equality

27 May 2010 By David Caploe PhD, Chief Political Economist,  Quite aside from the human and social justice aspects, income equality is a crucial factor in creating and continuing sustained economic growth. The fact that – as income inequality BETWEEN nations decreases, something we think is a good thing, income inequality WITHIN nations, in general, is growing. This is happening both in the major old markets of US, UK, Germany and Japan, and in the new, above all, China and India, but also other emerging markets like Brazil, Russia and Mexico. While income in-equality is problematic anywhere, it is ESPECIALLY so in the US, because, as we have said so many times, since 1947, we have had an American-centered world political economy, meaning, very simply, that countries either SELL to the US – or they SELL to countries that SELL to the US. Which means the more income in-equality WITHIN the US, the harder it's going to be for the world to pull out of the Great Recession in which so much of it finds itself mired today.

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How Banks Cooked Their Books - With Bank Regulators' Compliance / Complicity / Conspiracy ???

05 April 2010  By David Caploe PhD, Chief Political Economist,  Ever since the run-up to / outbreak / and aftermath of Black September 2008, we have argued the crisis in the US has SIX aspects: financial / economic / ideological / political / media / intellectual-academic. While we generally have focused on the first five aspects of this on-going mess, a substantively fabulous Op-Ed piece in the New York Times underscores at least ONE side of the intellectual / academic aspect of this crisis. The article is by professors from four different law schools around the US, and shows in chilling and convincing detail how the entire regulatory apparatus allegedly keeping an eye on banks / hedge funds / large corporations et al were actively complicit in allowing them to get away with, literally, murder, at least in the financial economic realm. Unfortunately, it's often almost impossible to tell what they're saying.

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