Wednesday, July 4, 2012
Don’t Leave Money on the Table: Save for Your Child’s Education With a Registered Education Savings Plan
The RESP was created to encourage parents or other relatives to save for their children’s post-secondary education. The amounts you put into an RESP are not tax deductible – that is, you must first pay tax on the money you contribute. But you do not pay tax on any gains or investment income you earn while the funds remain in the plan – they are sheltered from tax. MORE
Why Futures and Options Expirations Won't Boost Wall Street
Filed under: Economy, Investing
The "quadruple witching" hour -- when index futures, index options, equity options and security futures expire simultaneously -- is traditionally a time of higher trading volumes and investors decide what to do next. But if the low trading volumes so far this week are any indication, the next quadruple witching hour, scheduled Friday, will likely pass with barely a bump.The investor uncertainty that has characterized the market's choppy performance seems to be going strong. For the entire month of September, investors have behaved as if someone cast a spell rendering them unable to rally or retreat from stocks.
Sponsored Links
The market has been stuck in a small trading range of between 1040 and 1130 on the S&P 500 ($SPX) index for the last four months. And there's been a lower-than-normal volume of stock and options trades as investors try to figure out which way the market might head next. Even the approaching quadruple witching hasn't been able to energize traders. "We are at a point where the economic numbers are a little bit better, but they are not good enough to convince the buyers or sellers to take a stance with any kind of conviction," says Nate Peterson, senior derivatives analyst for Charles Schwab. "It's a market where you continue to wait and see. As the [reports] come out, you look for indicators that will give you a reason to buy, or to short the market."
Waiting for News
Options investors seem to be waiting for news and economic reports to help them reassess their positions before making trades, Peterson says. As a result, the average options volume in September has slipped to 15 million contracts per week from the 20 million contracts per week the market averaged through May.
That options volume may stay low until closer to October, when companies may begin making announcements in advance of the earnings season, Peterson says. Those announcements may then give investors better clues to where the market is headed. Unfortunately, while providing some clarity for investors, those announcements can also create higher market volatility.
"Right now VIX futures are around 25 - so traders are not pricing in a lot of volatility for October," Peterson says, referring to the Chicago Board Options Exchange Market Volatility Index ($VIX), which measures the market's anticipated volatility based on the sale of S&P 500 index futures and options. Historically, volatility has usually grown during earnings seasons, and an increase in the market volatility index generally makes options and futures more expensive, so Friday may be traders' last chance to lock in positions before higher volatility -- and higher prices -- kicks in.
Leading up to the quadruple witching, some traders bought new options on Wednesday and Thursday, but it seems that most are waiting until next week to decide if they need options to protect their long positions. Those who choose to buy put options for that protection as earnings season approaches can likely get them cheap, relatively speaking, on Friday, Peterson says.
And getting cheaper protection would definitely take the hex out of quadruple witching.
Permalink | Email this | Comments
Source: http://www.dailyfinance.com/2010/09/16/futures-options-expirations-wont-help-stocks/
Ultra-Short-Pulse Laser for High Efficiency Cell Concepts
Coherent, Inc. introduces a new laser system – the TaliskerTM – optimized for next-generation high-efficiency solar cell manufacturing, and designed as a drop-in, turn-key tool for both production line equipment suppliers and cell manufacturers.
Traditionally, laser scribers for Edge Isolation, Laser Grooved Buried Contacts, and Wrap-Through hole drilling have had to rely upon lasers operating with [...]
Traditionally, laser scribers for Edge Isolation, Laser Grooved Buried Contacts, and Wrap-Through hole drilling have had to rely upon lasers operating with [...]
Source: http://www.alternative-energy-news.info/press/ultra-short-pulse-laser-high-efficiency-cell-concepts/
Andrew J. Bacevich, Part II
Bill Moyers sits down with history and international relations expert and former US Army Colonel Andrew J. Bacevich who identifies three major problems facing our democracy: the crises of economy, government and militarism, and calls for a redefinition of the American way of life. "Because of this preoccupation with the presidency," says Bacevich, "the president has become what we have instead of genuine politics, instead of genuine democracy." Respected across the political spectrum, Bacevich has contributed to The Nation, The American Conservative, Foreign Affairs, among others, and his latest book is The Limits of Power: The End of American Exceptionalism.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Zl2JL6UtdnM/profile2.html
David Corn and Kevin Drum, Part 1
MOTHER JONES journalists David Corn and Kevin Drum offer a hard look at the obstacles to real reform of the financial industry.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/PVfmZQUB2Is/profile.html
Sleepy Mini Portfolio Q2-2012 Update
With the world stock markets in much turmoil these days, it won’t be surprising that the equities-heavy Sleepy Mini Portfolio lost 5.6 percent over the past quarter (see previous update). The Sleepy Mini Portfolio was started in August 2007 with an initial investment of $1,000 and like clockwork, $1,000 is being added to the portfolio [...]
Sleepy Mini Portfolio Q2-2012 Update is brought to you by Canadian Capitalist -- Helping you to invest & prosper.
Source: http://feedproxy.google.com/~r/ccapitalist/~3/5IuxjcRDj6I/
Weekend Warriors No More
BILL MOYERS JOURNAL gives viewers an intimate look at how deployments of National Guard troops to Iraq affect the state Governors' ability to swiftly respond to domestic disaster at home and impact the families left behind. Traveling to New Jersey, the Journal follows families preparing for the deployment of nearly half of New Jersey's National Guard to Iraq.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/GnBz2_rOoA0/profile.html
LBJ's Path to War, Part II
As President Obama prepares to announce how many more troops he will send to Afghanistan, Bill Moyers remembers the presidency of Lyndon Johnson and the agonizing decisions that escalated America's involvement in Vietnam. Through Johnson's secret tapes of phone calls and conversations, and his own reminiscences, Moyers recalls the events that plunged us ever deeper into war.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/vODKSRdlp0M/profile2.html
Weekend Ramblings – Gas Rant
Everyone loves a good rant about gasoline. I know because I pumped gas for a few years as a teenager, and got the heat from way too many travellers who truly believed that I had set the price right before they got there just to screw with them. Clearly I had that much authority. I [...]
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Source: http://feedproxy.google.com/~r/Youngandthrifty/~3/RLZ23ikUyNk/
Middle Class Squeeze
With celebrations set to kick off in Denver for the Democratic National Convention, the JOURNAL travels to Colorado where tough economic times are hitting suburban communities.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/sWJDIrlrUzI/profile.html
GDP and Engineering Layoffs
Posting for Michael, who’s traveling:
If you care about R&D, product design, worker training, or any of that other good stuff, you might want to look at my new cover story. I’ll be adding to this over the weekend.
Source: http://www.businessweek.com/the_thread/economicsunbound/archives/2009/10/gdp_and_enginee.html
Why Declaring Bankruptcy Should Be Your Last Resort
What do you do when you are in a deep financial hole? Thousands of Canadians declare bankruptcy every year because they can’t pay their debts. From 1990 to 2011 consumer bankruptcies increased from 42,782 to 77,993. That’s a whopping increase of 121.5%. Past mistakes aren’t easily fixable but there are ways to climb out of...
Source: http://www.boomerandecho.com/declaring-bankruptcy-should-be-your-last-resort/
Tuesday, July 3, 2012
David Cameron announces inquiry into rate-rigging scandal
Prime Minister David Cameron tells the House of Commons that he has launched a parliamentary inquiry into the Libor rate-rigging scandal.
Anna Deavere Smith pt 1
While politicians and the media war over "the public option" and "bending the cost curve," acclaimed actress-playwright Anna Deavere Smith and her one-woman play "LET ME DOWN EASY" give voice to questions of life and death, sickness and healthcare.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/-ntgY1mctTI/profile.html
Remembering Lucille Clifton
Bill Moyers celebrates the poet Lucille Clifton and her work.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/9TqvDQZP3AE/profile3.html
Wii U GamePad: Will Nintendo's New Touchpad Controller Win Back Gamers?
Filed under: Technology, Microsoft, Sony, Nintendo
After a year and change of sluggish sales, Nintendo (NTDOY) hopes its new console -- Wii U -- will win gamers over.Ahead of this week's E3 conference, Nintendo has unveiled the new tablet-like controller that it hopes will revolutionize the way video games are played.
The Wii U GamePad is a new game controller that features both traditional analog controls and a features-rich touchscreen in the middle.
Nintendo has given gamers two screens to play with before: The portable 3DS and 3DSi feature dual screens.
However, the limitation there is that the distance between the two screens is fixed. The possibilities between a touchscreen that is portable and the larger TV where the games are played are endless. In teasing the possibilities, Nintendo shows a golfing game where the GamePad is on the floor displaying the actual golf ball in a sandy bunker. The moment the gamer swings the traditional Wii motion-based controller, the ball clears out in a sea of dust.
Another example of the GamePad's dual screen utility is its effectiveness in two-player sport games. Since the GamePad screen's actions can differ from what's being displayed on the screen, players can secretly select baseball pitches or call football plays in private.
Wii U Also Wants to Be a TV star
The original Wii didn't win gamers on its spec sheet. Microsoft's (MSFT) Xbox 360 and Sony's (SNE) PS3 packed superior processing power.
The Xbox and PlayStation consoles also performed double duty as home theater appliances. The Xbox plays DVDs, while the PS3 plays both Blu-ray discs and DVDs.
Now Nintendo is hoping to raise the stakes by making its GamePad controller an infrared TV remote. Even if the Wii U isn't turned on, the new GamePad can be fired up to perform as a programmable TV remote control.
Speed Is Everything
Sony and Microsoft are probably at least a year away from updating their Xbox 360 and PS3 platforms, giving Nintendo a head start in the battle for supremacy in the next generation of systems.
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Things won't be easy. Hardware and software sales have been struggling through most of the past three years, and it usually takes a few years for a new platform before it builds a large enough audience to move the needle. However, Nintendo is definitely turning heads this week with where it sees the direction of interactive gaming. Now it's simply a matter of waiting to see what Microsoft and Sony can do to top it.
Motley Fool contributor Rick Munarriz does not own shares in any of the stocks in this article. The Motley Fool owns shares of Microsoft. Motley Fool newsletter services have recommended buying shares of Microsoft and Nintendo. Motley Fool newsletter services have recommended creating a bull call spread position in Microsoft.
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JPMorgan case puts Volcker Rule and SIFIs back in the spotlight
Sources have said that JPMorgan had tried to make a case for its losses by arguing that it was trying to hedge its deposits against interest rate risk.
European Court Upholds Most of $1 Billion-Plus Microsoft Fine
Filed under: Company News, Technology, Google , Microsoft, Apple, Market News
By TOBY STERLINGBRUSSELS -- A European court on Wednesday upheld most of a massive fine levied against Microsoft (MSFT) by the European Commission's competition watchdog, closing a case against the software giant that began in 1998.
In an appeals ruling, the General Court of the European Union rejected Microsoft Corp.'s request to dismiss the fine levied in 2008, but did trim it by 39 million euros ($49 million) to 860 million euros ($1.1 billion). Counting two earlier fines, the case has wound up costing Microsoft a grand total of 1.64 billion euros ($2.05 billion).
That's the most ever resulting from a single antitrust case in Europe, though in 2009, Intel (INTC) was hit with the largest single fine, 1.09 billion euros ($1.36 billion).
The court in Luxembourg said its decision "essentially upholds the Commission's decision and rejects all the arguments put forward by Microsoft in support of annulment."
The 860 million euro fine is a "penalty for noncompliance" with the watchdog's 2004 order for Microsoft to make computer programming code available that would allow competitors' products to interface properly with Microsoft's server software.
Microsoft did so, but at a price the Commission said was so exorbitant it amounted to not complying.
The court upheld that finding, but said Microsoft deserved a small break because of a letter the Commission sent in 2005 saying the company didn't have to freely distribute code that wasn't its own and was freely available elsewhere. That letter gave Microsoft some room to think it was OK to continue acting the way it had until 2004, and should have been "taken into account in determining the gravity of the conduct found to be unlawful," the written decision said.
The Commission's top regulator Joaquin Almunia said the judgment "fully vindicates" his office's action against Microsoft and "brought significant benefits to users."
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"A range of innovative products that would otherwise not have seen the light of day were introduced on the market," thanks to the Commission, he said.Microsoft was less enthusiastic.
"Although the General Court slightly reduced the fine, we are disappointed with the Court's ruling," the company said in a statement.
Microsoft was initially fined 497 euros along with the 2004 order, then it was penalized another 280.5 million euros for noncompliance in 2006, and then another 899 million euros in 2008.
The company has already booked provisions for all the fines and penalties and after the ruling it has no active outstanding quarrels with European regulators.
"In 2009 Microsoft entered into a broad understanding with the Commission that resolved its competition law concerns," the company said.
Most notably in the 2009 deal, Microsoft ended an investigation into allegedly abusive practices for bundling its Internet Explorer web browser along with its operating systems. Microsoft agreed to instead offer customers a range of browsers to choose from.
In a sign of the times, Microsoft itself turned to the watchdog in 2012, asking it to investigate Google for anti-competitive practices. Microsoft alleged that Google (GOOG) was demanding unreasonable fees to license its technologies and asking courts to pull Microsoft products from shelves if they don't pay up. Google shot back with a similar request for the Commission to again investigate Microsoft last month.
Many observers say companies such as Apple (AAPL), Google and Microsoft are increasingly acting as "patent trolls," using the legal and regulatory systems as tools to thwart competitors as part of their wider struggle for market share.
Almunia said in February "the Commission will continue to keep a close eye on the behavior of all market players in the sector, particularly the increasingly strategic use of patents."
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Source: http://www.dailyfinance.com/2012/06/27/european-court-upholds-most-of-1-billion-plus-microsoft-fine/
Finding the best credit card for traveling abroad
If you haven't traveled internationally before, you might be operating under the assumption that using your credit card is no different than using it at Wal-Mart. Unfortunately this isn't the case; using your credit card in another country can lead to high fees for currency conversion or even a frozen account if your card issuer suspects fraud.When I recently found out that my sister was planning a winter trip to Africa I took it as my brotherly duty to find the best credit card for her. As luck would have it, Jim from Blueprint for Financial Prosperity, is also traveling abroad soon, and he took an in depth look at the currency conversion fees for popular credit cards in order to find the best credit card to use internationally.
There are three fees that go into determining the total cost of any international transaction, which can add up to 8% to a purchase price. These fees include a foreign currency conversion fee, a network fee and a dynamic currency conversion fee. The majority of cards charge at least one of these fees for any international purchase, even if a bill is paid in full before the end of the billing cycle.
Continue reading Finding the best credit card for traveling abroad
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Source: http://www.dailyfinance.com/2008/10/23/finding-the-best-credit-card-for-traveling-abroad/
Automating Social Media Marketing
Source: http://feedproxy.google.com/~r/ModestMoney/~3/62tiXLyChGk/
Why Futures and Options Expirations Won't Boost Wall Street
Filed under: Economy, Investing
The "quadruple witching" hour -- when index futures, index options, equity options and security futures expire simultaneously -- is traditionally a time of higher trading volumes and investors decide what to do next. But if the low trading volumes so far this week are any indication, the next quadruple witching hour, scheduled Friday, will likely pass with barely a bump.The investor uncertainty that has characterized the market's choppy performance seems to be going strong. For the entire month of September, investors have behaved as if someone cast a spell rendering them unable to rally or retreat from stocks.
Sponsored Links
The market has been stuck in a small trading range of between 1040 and 1130 on the S&P 500 ($SPX) index for the last four months. And there's been a lower-than-normal volume of stock and options trades as investors try to figure out which way the market might head next. Even the approaching quadruple witching hasn't been able to energize traders. "We are at a point where the economic numbers are a little bit better, but they are not good enough to convince the buyers or sellers to take a stance with any kind of conviction," says Nate Peterson, senior derivatives analyst for Charles Schwab. "It's a market where you continue to wait and see. As the [reports] come out, you look for indicators that will give you a reason to buy, or to short the market."
Waiting for News
Options investors seem to be waiting for news and economic reports to help them reassess their positions before making trades, Peterson says. As a result, the average options volume in September has slipped to 15 million contracts per week from the 20 million contracts per week the market averaged through May.
That options volume may stay low until closer to October, when companies may begin making announcements in advance of the earnings season, Peterson says. Those announcements may then give investors better clues to where the market is headed. Unfortunately, while providing some clarity for investors, those announcements can also create higher market volatility.
"Right now VIX futures are around 25 - so traders are not pricing in a lot of volatility for October," Peterson says, referring to the Chicago Board Options Exchange Market Volatility Index ($VIX), which measures the market's anticipated volatility based on the sale of S&P 500 index futures and options. Historically, volatility has usually grown during earnings seasons, and an increase in the market volatility index generally makes options and futures more expensive, so Friday may be traders' last chance to lock in positions before higher volatility -- and higher prices -- kicks in.
Leading up to the quadruple witching, some traders bought new options on Wednesday and Thursday, but it seems that most are waiting until next week to decide if they need options to protect their long positions. Those who choose to buy put options for that protection as earnings season approaches can likely get them cheap, relatively speaking, on Friday, Peterson says.
And getting cheaper protection would definitely take the hex out of quadruple witching.
Permalink | Email this | Comments
Source: http://www.dailyfinance.com/2010/09/16/futures-options-expirations-wont-help-stocks/
The Company That Could've Been Facebook Goes Back to School
Filed under: Technology, Facebook
A blast from the past is making new waves in social networking. United Online (UNTD) -- the parent company of Classmates.com -- is acquiring schoolFeed. (Terms of the deal aren't being disclosed.)
SchoolFeed is a fast-growing app on Facebook (FB) that connects users of the world's largest social networking website through their alma mater affiliations. There are now more than 19 million Facebook users tethered to schoolFeed, and the app is tacking on roughly 100,000 new registered users daily.
Sure, 19 million is a far cry from the more than 900 million active Facebook users, but there's probably a good chance that you've received a request from one of your Facebook pals to connect through schoolFeed.
The Rise and Stall of Classmates.com
Classmates.com was an early arrival on the dot-com social networking scene. Its goal was -- and continues to be -- to connect high school and college alums who wax nostalgic. The website was formed in 1995, nearly a decade before Mark Zuckerberg redefined the way that friends engage with one another online.
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United Online acquired Classmates.com for $100 million in 2004, just as Zuckerberg was starting to shake up the Harvard campus. United Online thought that it was getting a bargain in the aftermath of the dot-com bubble, but Facebook succeeded at the social networking game in a way that Classmates never did.
The problem with Classmates was that the model called for premium memberships. Only paying subscribers had easy access to other paying members. Maybe it would've worked, but then free ad-based social networking disrupted the model.
Friendster, MySpace, and eventually Facebook didn't install tollbooths. They understood that scaling in size meant providing open experiences for free. As Facebook evolved from campus-specific networks to global connections, Classmates and its archaic model never stood a chance.
An Ugly, Dated Model
Classmates offers free registrations, but the available features are limited. Users need to purchase Memory Lane All-Access Passes to see who's checking out their profile, and to read and reply to every message they receive.
The rates are reasonable. The All-Access Pass starts at $15 for three months and goes up to $59 for two years. But paying a cover charge doesn't make a lot of sense when Facebook -- with its larger collection of registered users who went to school with you -- is available for free.
Facebook, on the other hand, went public with a market cap of $104 billion, and even after a swift sell-off is still roughly 170 times more valuable than United Online.
The SchoolFeed acquisition should help increase awareness for Classmates.com and its Memory Lane efforts, but is there any likelihood it will help United Online finally get right what it has been fumbling since 2004?
As long as Classmates.com is run with the velvet rope philosophy that demands people pay a premium to engage with a smaller subset of their schools' alumni than Facebook offers for free, SchoolFeed won't be any kind of fix for United Online's woes.
Business models matter. Classmates was fashionably early to the right party, but with the wrong model.
Motley Fool contributor Rick Munarriz does not own shares in any stocks in this article. The Motley Fool owns shares of Facebook.
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Source: http://www.dailyfinance.com/2012/06/13/Classmatescom-buys-SchoolFeed-facebook-app-social-network/
Holly Sklar
Holly Sklar, co-author of Raise the Floor: Wages and Policies that Work For All of Us, discusses what current economic conditions say about the state of the American dream.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/ude1-YwQrl4/profile3.html
War Powers
A Bill Moyers essay.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/FIM4vFxV2RU/watch3.html
Monday, July 2, 2012
Traders Don't Expect Fed to Raise Interest Rate in 2011
Filed under: Economy, Investing, Market News
The Federal Reserve is unlikely to raise interest rates until mid-2012 in light of new unemployment figures, which signal a slow economic recovery, Reuters reported.
November's unemployment rate rose to 9.8% from 9.6% in October while the U.S. private sector added just 50,000 jobs -- about a third of what analysts had forecast -- the U.S. Labor Department announced Friday. Additionally, the underemployment rate, which includes both the unemployed and those working part time who are seeking full-time jobs, remained at a 17%, and the number of people out of work for at least six months increased to 6.3 million, the Labor Department said.
On the Chicago Board of Trade, short-term interest-rate futures traders aren't pricing in increases in the target interest rate for overnight lending between banks until May 2012, according to Reuters. Traders, who previously indicated that they thought the Federal government would curtail its plan to buy $600 billion in bonds to spur the economy, had been pricing in an interest-rate hike at about December 2011 before this latest jobs report.
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Source: http://www.dailyfinance.com/2010/12/03/traders-dont-expect-fed-to-raise-interest-rate-in-2011/
Glenn Greenwald on Returning the Rule of Law
Bill Moyers sits down with political commentator and Salon.com blogger Glenn Greenwald who asks: Are we a nation ruled by men or by laws? A former constitutional and civil rights lawyer, Greenwald looks at the legacy of the Bush Administration, the prospects for a restoration of the rule of law, as well as the possibilities for government accountability.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/31QwjuMnHEs/profile.html
Moyers on Socialism
Bill Moyers reflects on America's trouble with the word socialism.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Q5S41MzsAK4/watch3.html
Can Afghanistan Survive Without America?
Dexter Filkins, New Yorker
In the eleven years since the American invasion of Afghanistan, Abdul Nasir has become a modern and prosperous professional. A worldly man in his late thirties, he smokes Marlboros, drives a Toyota, and follows Spanish soccer, rooting for Barcelona. He works in Kabul as a producer for Khurshid TV, one of the many private channels that have sprung up since 2004. He makes news and entertainment shows and sometimes recruiting commercials for the Afghan National Army, one of the country's biggest advertisers. On weekends, he leaves the dust of the city and tends an apple orchard that he...
In the eleven years since the American invasion of Afghanistan, Abdul Nasir has become a modern and prosperous professional. A worldly man in his late thirties, he smokes Marlboros, drives a Toyota, and follows Spanish soccer, rooting for Barcelona. He works in Kabul as a producer for Khurshid TV, one of the many private channels that have sprung up since 2004. He makes news and entertainment shows and sometimes recruiting commercials for the Afghan National Army, one of the country's biggest advertisers. On weekends, he leaves the dust of the city and tends an apple orchard that he...
Source: http://www.realclearpolitics.com/2012/07/02/can_afghanistan_survive_without_america_283755.html
Investor group seeks JPMorgan governance changes
"It's exactly the kind of bet that is very difficult for board directors to understand."
Why Is Sunscreen Forbidden For Kids At Some Schools And Camps?
Sunscreen is a friend to fair and dark complexions alike, protecting its wearers from sunburn and other forms of skin damage. So why would schools and camps ban kids from carrying the stuff without a doctor's note? After a recent story of a mom horrified that her two daughters were severely sunburned after a school [...]
Source: http://consumerist.com/2012/06/why-is-sunscreen-forbidden-for-kids-at-some-schools-and-camps.html
Sunday, July 1, 2012
New sidebar
As promised last week, I added the new sidebar under DEBT to reflect the status of my Line of Credit. This account was opened last May when uncertainty of job action and status was present. As my EF was inadequate, the LOC was going to be a very 'poor choice' back up if need be. I never ended up using it for that, but I did to make the final payment of my son's trip to Italy. I am not pleased that I did not save the $ properly for that and had to use the LOC. However, the deed is done now and I need to own up to it, so there it is.
This is an interest only LOC so if a month went by where I did not make a payment, the interest amount would come out of my account tied to this. The interest is not added onto the loan. I have been making $50 payments per month on this loc while directing the bulk of my attention to paying off my vehicle loan.
Hopefully I can soon start attacking this loc a little more aggressively and get it off my list of things to do.
This is an interest only LOC so if a month went by where I did not make a payment, the interest amount would come out of my account tied to this. The interest is not added onto the loan. I have been making $50 payments per month on this loc while directing the bulk of my attention to paying off my vehicle loan.
Hopefully I can soon start attacking this loc a little more aggressively and get it off my list of things to do.
Source: http://shakingthemoneytree.blogspot.com/2012/04/new-sidebar.html
Oil Prices Hit 8-Month Low as Spain Optimism Fades
By PABLO GORONDIThe price of oil hovered above $82 a barrel Tuesday after touching an eight-month low near $81 earlier in the session amid concern Spain's bank bailout won't be enough to stem Europe's debt crisis and suggestions OPEC could boost production targets.
By early afternoon in Europe, benchmark oil for July delivery was down 24 cents to $82.46 per barrel in electronic trading on the New York Mercantile Exchange. Earlier on Tuesday, oil dropped to $81.07, the lowest since October, having dropped $1.40 on Monday.
In London, Brent crude for July delivery was down 72 cents at $97.37 per barrel on the ICE Futures exchange.
Crude jumped temporarily on Monday after the 17 countries that use the euro common currency pledged to lend Spain $125 billion to rescue its faltering banks. However, attention soon turned to the Greek election this weekend, the outcome of which could determine if Greece stays in the euro.
"There are highly uncertain and fragile economic conditions across the eurozone that dominate the markets and cause nervous trading and volatility," said analysts at Sucden Financial in London.
Oil has plunged about 24% from $106 since early last month amid signs of slowing economic growth in the U.S., China and Europe.
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Traders will also closely watch a quarterly meeting of the Organization of Petroleum Exporting Countries in Vienna on Thursday. Some members of the cartel have suggested recently that OPEC is producing too much crude, and the group could decide to cut supplies to help boost prices.An OPEC report showing oil output at its highest in the last four years is sure to be used by price hawks such as Iran and Venezuela. The monthly report, published Tuesday, showed OPEC production just short of 33 million barrels a day. That's almost 3 million barrels more than the organization's overall quota and more than 630,000 barrels above the May figure.
The report said it expected world demand this year to increase by 0.9 million barrels a day while saying at the same time that economic uncertainty might upend that prediction and lead to "a further decline in world oil demand."
Saudi Oil Minister Ali al-Naimi, however, said OPEC needed to raise its production target of 30 million barrels a day.
Al-Naimi's remarks indicate "that the world's leading oil supplier has no intention of cutting back on production despite recently lower prices and an apparent oversupply in the market," said a report from JBC Energy in Vienna.
"If production remains at its current level, the global oil market risks seeing a supply surplus of well in excess of 1 million barrels per day in the second half of the year, which would exert further pressure on the oil prices," said analysts at Commerzbank in Frankfurt.
In other energy trading, heating oil was unchanged at $2.6357 per gallon while gasoline futures fell 1.13 cents to $2.6453 per gallon. Natural gas lost 1.4 cents to $2.204 per 1,000 cubic feet.
___
Alex Kennedy in Singapore and George Jahn in Vienna contributed to this report.
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Source: http://www.dailyfinance.com/2012/06/12/oil-prices-hit-8-month-low-as-spain-optimism-fades/
Tips for Couples Traveling on a Tight Budget
If you are a couple living on a tight budget is it still possible to travel and enjoy yourself? You bet it is!
One of the keys to being able to travel on a tight budget is to do a lot of pre-planning so that you ensure that you get the most value for your money.
I’m the travel planner in our house and here are some of the things that I do when my husband and I travel but need to be very conscience of our travel budget.
Research
The Internet has made it so much easier to do quite a bit of research when you are planning a trip and are looking for ways to save as much money as possible. As well a local travel agent can sometimes get you even better deals with hotels and transportation. What I try to do is to find the location, hotel and flights I want online and then speak to a travel agent to see if they can come up with a better price.
Consider an All-Inclusive Vacation
While an all-inclusive resort such as Club Med may sound a bit pricey upfront, you will normally save quite a bit of money overall because pretty much everything you need is included in one price. As well you typically pay for everything upfront so once you are on your vacation you can relax knowing that the only additional costs you may encounter would be if you buy souvenirs.
I chose an all-inclusive for a trip to Cuba and took along a $100 US for spending money. I came home with $95 US because as I said, everything was pre-paid. Oh, and by the way, to tip the people that clean your hotel room in Cuba you don’t leave cash. You leave them things like shampoo, toiletries, baby clothes, and so on, because those items are quite expensive for them to buy on their own.
Consider a Bed and Breakfast
If an all-inclusive doesn’t fit into your vacation plans then consider staying at bed and breakfasts instead of hotels. Again you can find bed and breakfasts listed online and view their accommodations as well as how much they charge and what they include. A room at a bed and breakfast can be quite comfortable and very affordable. And many times their breakfasts are delicious. Some locations include dinner as well.
Low Season
If you are flexible as to what time of year you can get away for a vacation then always consider travelling during low season instead of high season. Why? Because airlines and hotels typically offer lower rates when fewer people travel, which in turn will make it much easier for you as a couple to travel on a budget.
Depending on where you are going, some of the best times to travel are in the fall, and close to, but not during the Christmas season. In the fall most people are busy at work and may not be able to get away, or they may have kids that have just returned to school and they don’t want to pull them out for a vacation. And again just prior to Christmas is a great time to travel because most people are too busy planning for the holidays or spending money on Christmas gifts, and travel is the last thing on their minds.
Estimate Daily Costs and Create Your Travel Budget
Estimating your daily costs is important. For example, many years ago I planned a trip to the UK for 10 days. Because we planned to tour around the UK instead of staying at the same place every night, I created a daily budget which included how much we could spend on a hotel room or B&B, a car rental, and food each day. Then I added in the cost of the flight and a buffer for small purchases. Before we left I had a very good idea of how much the trip was going to cost and how much cash we needed to set aside to be able to travel.
Exchange Rates
When you create your travel budget always remember to factor in the exchange rates if you are leaving the country.
Create a Travel Fund
Once you have done all of your research and have created your travel budget you can work hard on saving money to pay for your trip. Look at your household budget and look for ways to allocate a portion of money each month towards your travel fund.
As well, look around your home and see if there are any items that you no longer need and sell them online or at a garage sale. You can also add more money to your travel fund if you find a side hustle that allows you to offer your expert skills in exchange for money.
One of the benefits that couples find when they plan their travel based on a budget is that they can travel more often. By being flexible with your travel plans and watching online for low cost travel deals, you will still be able to enjoy your trip even if you are on a budget.
Source: http://tacklingourdebt.com/2012/06/20/tips-couples-traveling-tight-budget/
Businesses can create passes for iOS 6 Passbook today
A new website allows anyone to create passes for iOS 6 Passbook (for boarding passes, movie tickets, retail coupons, loyalty cards, etc.) ahead of the public release of the API.
Source: http://www.zdnet.com/blog/apple/businesses-can-create-passes-for-ios-6-passbook-today/13204
Happy Canada Day!
Today is Canada Day, where we celebrate the confederation of our Country (well most of us, some in Quebec choose to ignore this), so this means all stores and banks are closed tomorrow (?!?!?) (This is pretty weird that everything is open on Canada Day, but closed the day after?!?!?). Enjoy Canada Day then, and [...]
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Source: http://feedproxy.google.com/~r/CanadianFinancialStuff/~3/qeyoOvPwpaQ/
Service Sector Inflation Ticks Up
The headline number for this morning's PPI report was an 0.6% decline in the price of finished goods less food and energy ("core PPI"). In fact, core finished goods PPI has fallen for 4 out of the past 6 months. So if we just look at this number, inflation seems like it isn't a problem,
However, I prefer to look at a different statistic in the PPI report--the PPI for traditional service industries. Never heard of it? You are not alone. Starting a few years ago, the BLS aggressively broadened its coverage of the service sector. In particular, the "traditional service sector" includes everything from telecommunications and web search portals to health care to banking to management consulting to fitness centers.
So now the BLS publishes a PPI for these service sector industries (it's at the back of the report, pp 20-21). I wrote about the service sector PPI on my blog in February, in a post entitled "The PPI says: Service Sector Deflation is Almost Here."
Now, we have a really big divergence in the path of the core finished goods PPI and the service sector PPI. Core goods inflation is collapsing. But services PPI is slowly ticking up.
I think the service sector PPI is a better measure of the underlying inflation rate, because it covers a broader swathe of the economy. So this chart tells us that inflation is slowly starting to recover.
Source: http://www.businessweek.com/the_thread/economicsunbound/archives/2009/11/service_sector.html
How To Make Your $1.5 Million Nest Egg Last
Retirement planning can often be a harrowing experience. You have to decide which types of accounts you should have, the amount you should save, and when you should retire. What all of this boils down to, at least for the most part, is that your money must be designed to last throughout your retirement.
Let's take a look at a scenario where you have $1.5 million worth of funds. While a million dollars sounds like a lot of money, you must also realize that this money will need to last for a great number of years. If you haven't planned accordingly, you might see yourself shortchanged, which could spell disaster.
To assist you with ensuring that your future goes of without a hitch, we have a few tips you can follow to help you stretch out that $1.5 million over the length of your retirement.
Tip #1: Keep your expenses low and your returns high.
This might sound like an obvious consideration, but many retirees think of their retirement planning in terms of all the minutae of the ordeal. They don't take the time to consider the "big picture," and that could cause problems rather quickly. One of the best ways for your portfolio to remain in shape is to limit the amount of money that is given to the fund company rather than being placed in your own pocket.
Tip #2: Now is the time to lessen your risk.
When you're first starting out, a little risk isn't too dangerous. If fact, if you play the stock market well and/or get lucky, you may see quite a windfall of funds coming your way. Throughout the years, it's likely that you may be balancing those risky financial products with much safer ones, which is a smart thing to do.
Once you're into your retirement, however, you must lessen your amount of risk as much as possible so that your money will last. This means trading in those stocks for safer financial products, such as bonds. Some investors may find the switch a bit tricky, especially if they have a portfolio that is mostly made up of stocks, but a financial adviser can help you sort it all out.
Tip #3: Annuities are a good backbone for your retirement plan.
Annuities are a great way to ensure that the money you've saved for your retirement is able to last. An annuity works rather simply. First, you obtain one through an insurance company. Second, you provide either a lump sum payment, a periodic payment, or both. And finally, whether immediately or at a future date (such as once your retirement begins), you will begin to receive payments. One option you will have with many annuities is to be provided with funds that last for the rest of your life.
But that's not all. Annuities have other benefits as well. One of the most important of these is the option for a death benefit in most cases. No one wants to think about the worst happening, but it's a reality that must be faced head-on. With this benefit, a spouse will begin to receive payments once you've passed. In addition to the death benefit, earnings from annuities are also tax deferred. The only thing to watch out for is to avoid withdrawing funds early, due to penalties involved. Most retirees can avoid this, however, so the likelihood of this becoming a problem is slim.
Source: http://firstsecurityfinancialshow.com/blog/bid/139500/How-To-Make-Your-1-5-Million-Nest-Egg-Last
Judgey McJudgeypants
A couple of weeks ago, my oldest son and I were sitting on the back deck reading – me an investing book, him an article on personal finance from maybe the Globe and Mail or the Financial Post.
He was horrified at the spending habits of the person profiled in the article he was reading. Here’s [...]
He was horrified at the spending habits of the person profiled in the article he was reading. Here’s [...]
Jim Cramer Explains: The 3 Troubles With Target-Date Funds
Filed under: Retirement, Investing
By Jim CramerIt was supposed to be so easy.
Target-date funds were designed as the buy-and-forget investment, especially for retirement accounts.
Investors choose a fund with the target date of the year they will turn 65 or expect to retire.
A 43-year-old worker, for example, would buy shares in a fund with a target date near 2040. A 55-year-old would buy a 2022 fund. You get the idea.
As the target date comes closer, the fund automatically shifts from more aggressive to more conservative investments.
The promise of automatic asset allocation and diversification has prompted plan sponsors and participants to swarm to target funds (and their precursors, known as life-cycle funds).
Assets in target-date funds have jumped from $71 billion at the end of 2005 to nearly $378 billion at year-end 2011, according to Morningstar.
What's more, 72% of companies offer target funds as the default investment for workers who don't specify where they want their money to go, according to a recent survey from Towers Watson.
To be fair, target funds are probably better than defaulting to a money market fund or throwing darts to pick your 401(k) options -- something plenty of 401(k) participants do, unfortunately. But like any heavily hyped investment, these things are flawed. Extremely flawed. Let me count the ways:
Performance. Target funds weren't immune to the market chaos starting in 2008. The average 2010 target fund, for instance, lost 22% in 2008 while the average target-date funds for 2036 through 2040 lost 39%, according to Morningstar. The next two years brought healthy bounce-backs for the average target date fund in every time frame, but in 2011 the group underperformed again, with almost all funds showing losses.
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Actively managed target funds are particularly susceptible to poor performance, says David O'Meara, a senior investment consultant with Towers Watson. (More than 50% of target fund assets are in actively managed funds.)There's a simple reason why they don't do well.
"Most fund companies don't have the skill set to outperform the market in every asset class -- large-cap, small-cap, non-U.S. equities and fixed income," O'Meara explains. "It's hard enough to outperform one market benchmark, but then when you start packaging 10 or 20 managers, most organizations are going to fail to outperform."
Fees. Most target funds are basically a fund of funds, so fees add up quickly. As always, index funds will be the least costly -- Vanguard's index target funds charge 18 basis points in expenses -- but some companies charge significantly more than 1% in expenses for actively managed target funds.
These fees take a big chunk out of your nest egg. According to a recent Towers Watson white paper, the average worker making $125,000 over the course of a career who pays $20 in fees for every $10,000 invested in target-date funds would lose three years worth of retirement income to fees. The same worker who paid $100 in fees for every $10,000 invested, would lose 15 years worth of retirement income. That's a lot of cruises and greens fees going to fund companies.
The Right Target. Making sure the target funds offering in your 401(k) are right for you takes a lot more work than simply picking the date closest to your retirement year.
The way target funds are allocated among different asset classes up to and beyond your retirement varies widely. Some may keep a majority in stock, even past retirement date. Others may move to a majority in fixed income well before you retire. Still others may invest in REITs and commodities to further diversify the fund, which can be a good thing, especially if these sectors aren't represented elsewhere in your 401(k) investment menu.
The point is investors still have to do plenty of homework to make sure their default option is invested the way they want it to be. There is no such thing as buy and forget.
Because you have to manage target funds the same way you would any other investment, why not throw yourself in completely and come up with your own investment picks that offer diversification and -- one hopes -- much higher returns.
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- Jim Cramer's Best Blogs
- Cramer: The Disgrace of a Stock Lifetime
- 10 Most Convenient Cities in America
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Source: http://www.dailyfinance.com/2012/06/11/jim-cramer-explains-the-3-troubles-with-target-date-funds/
Kathleen Hall Jamieson
Contributor Kathleen Hall Jamieson returns with a recap of the key moments and messages of the Republican National Convention.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/9mRbaZEPcuA/profile3.html
Santa Ana Health Crusade
The Journal profiles public health doctor America Bracho, who serves her Santa Ana, CA community – notorious for crime, poverty and disease – with her organization, Latino Health Access.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Kt3OxLmYHv0/profile2.html
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