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Obamas Cabinet - Can They Turn the Economy Around? Barack Obama was elected the forty fourth president of the United States of America on November 4, 2008. He is the first African American president to ever be elected. President Elect Barack Obamas cabinet has begun to take shape. He has started to form his economic team. It is crucial for him to have a strong and capable economic team because the economy has been suffering for the last few years. President Elect Barack Obama has selected Timothy Geithner to ... The Future of Gas The recent decrease in gas prices has been a welcomed change to the beleaguered American consumer. After four years of steady increases, the price of a gallon of gas has declined steadily since the financial crisis began abating worldwide demand in September. The national average gas price fell by 15 cents to $1.868 over the Thanksgiving holiday weekend, despite the expected increase in demand as travelers hit the roads to visit family. On the Tuesday before Thanksgiving, a barrel of gasoline ... Deflation - What is it and Why Its Not as Good as it Sounds What is Deflation? Deflation, as defined within the study of economics, is a general decrease in the price level of goods and services below zero percent. The below zero percent qualifier is important because it indicates that prices are actually decreasing as opposed to increasing to a lower degree than in previous periods. In other words, a decrease in price levels from +5% to +4% from one period to the next is not considered to be deflation -- it's called disinflation, ... Global Economy Summits - Can World Leaders Find a Solution Together? The Summit on Financial Markets and the World Economy was held on November 15, 2008. There were many countries represented at the summit. The following countries were represented: The United States of America, Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Mexico, Netherlands, Republic of Korea, Russia, Saudi Arabia, South Africa, Spain, Turkey, United Kingdom, and the European Union. There were many country leaders at the summit. The following country leaders were present at the summit: President George ... The American Dream and Declining Home Values As the economy and real estate continue to decline into a deep recession, the American dream is fast fading away. People dream to one day be a homeowner in a financially stable situation. The percentage of single family homes sold in the United States continues to decrease dramatically and more multi-family homes are being built each day. Housing with shared amenities, properties, and less of the freedom that a homeowner dreams of one day having. The housing market will ... Will Crime Go Up As the Economy Goes Down? Will Crime Go Up as the Economy Goes Down? Many people believe that the nation's crime rate is correlated with the state of the economy -- that is, as the economy dwindles, the rate of crime increases. It's not an invalid fear: when people lose their jobs and become desperate to make ends meet, they sometimes turn to petty crime to help alleviate their economic problems. But while the connection makes intuitive sense -- when people have nothing to ... Will Credit Card Debtors Get Government Aid? While much has been said of the current financial situation in terms of mortgages and homeowners, other types of debtors have been neglected. Though it is certainly true that mortgages and banks failing are the story in this failing economy, it is equally true that bad consumer debt has played a role in hurting the economy and causing people to lose their homes. You might not hear about it as much on the news, but credit card debtors are ... Bear Market and Bull Market - What's the Difference? When it comes to evaluating the stock market, there are many terms that are used. All in all, the stock market is not too difficult to understand, given the right context. With it being in the news these days more than almost any other time, people are seeking to understand what theyve been hearing from newscasters and so called television experts. One thing you might have heard is the market trend term bear market or the term bull ... Did American Express Become a Bank Just for Bailout Money? American Express made their announcement to the world that they are becoming a bank. With credit failure and consumers spending crashing, American Express decided to dive into the world of banking in order to stabalize themselves financially using government bailout. The Federal reserve approved the company's request which will now lead American Express into a more secure future with access to funding and the big rescue bill. Since the global credit crunch, AmEx is now the third financial company ... Was AIG Worth Bailing Out? The U.S. Government has found themselves face to face with an enormous money pit popularly known as American International Group or AIG. AIG is one of the largest insurers linked to retirement held by millions of Americans, mutual funds and U.S. mortgages which made it neccessary to fund the company with an $85 billion bailout loan. Without the bailout, the global economy would have faced a much larger scale of financial crisis. This is the only fact to ... The 9 Banks of the Bailout The news has been dominated in recent weeks by talk of the massive government bailout of the commercial banking industry. The government didnt just throw this money around aimlessly, though. Instead, they have slotted the funds for the 9 banks of the bailout, which are all in desperate need of federal help in order to keep their operation viable. So who are these 9 banks of the bailout and what is their current situation looking like? This article will detail ... What is a Money Market? If you have been following the global economy and its downturn over the last few months, then you have probably heard people talk about a problem with the money market and how this problem is impacting the economy at large. What is a money market and why is it so important? On its most basic level, the money market is where banks and individuals go in order to lend and borrow over the short-term. While there are larger markets ... How the Dollar Compares to Other Currency Everyone has to have money in order to live. We use money as trade for services that we receive, and purchases that we make. What happens if our currency becomes worthless? It'll never happen, right? Well, it is a possibility for our currency to loose it's value. As a matter of fact, other countries currencies don't have the same value as the all mighty dollar now! The value of the dollar is measured by it's exchange rate. This means ... The Fed and Interest Rates The Fed, or the Federal Reserve Bank, is the government's bank. It is also considered the banks bank and is important to the balance of our economy. It handles all of the United States government's money and banking transactions. The Fed also governs a number of banks, setting limits on the charges that they can charge their patrons. The Fed controls these banks charges for services, overdraft fees, loan interest rates, and also insures your money held in an ... Global Recession - Is it Possible? The world economy is now entering a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s, claims the International Monetary Fund (imf.org). It appears that the IMF, the European Union, and World Bank have been quite busy bailing out one country or another. The latest $25 billion financing package for Hungary comes on the heels of two other financing packages distributed as emergency loans to Iceland and the Ukraine. These countries ...