ECONOMY

By Tara Struyk

According to a May 2011 study by Rasmussen Reports, 44 percent of American adults believe the government should do something to lower gas prices. It’s no wonder, with 2011 gas prices hovering at an average $3.60 per gallon–nearly $1 more per gallon than in 2010.

Unfortunately, while there are plenty of moves drivers can make to reduce fuel consumption, there isn’t a whole lot the federal government can do to bring those prices down. Here we’ll take a look at the limited influence the feds have on gas prices and look at what’s really driving them up.

By Andrew Burger

If boosting US job growth and income is a priority for policy makers and our representatives in government, the latest economic reports on GDP and employment aren’t encouraging. Neither is the recent compromise deal to raise the US debt ceiling and cut the budget deficit. But the latest job growth statistics are just the latest data points in a trend that has been playing out for decades.

Monetary policy is one of the least understood areas of finance, yet it’s something we’ve been hearing a lot about in the wake of the economic meltdown of 2008. In very general terms, monetary policy is what keeps the economy stable and prosperous.

So, how do the main components of monetary policy such as interest rates, lending and reserve requirements affect you, the consumer? In more ways than you may think–that’s why it’s important to be in the know.

It’s getting harder every day for regular Americans to honor financial commitments, especially when we see our own Federal Government raising its debt limits higher. Every night on the TV news, Americans watch fiscally irresponsible oil companies, auto manufacturers and banks all erasing their debts and posting huge profits while we struggle to pay our daily expenses.

“Many Americans feel that the banks specifically have wronged them and so they feel legitimized in sticking it to the banks and walking away from their mortgage obligations,” says Luigi Zingales, Professor of Finance at the University of Chicago Booth School of Business.

By Stacey Bumpus

Finding a job in this economy has been a challenge for the approximately 14 million who are still out of work. Currently, the unemployment rate is sitting at a high 9.2 percent, according to the U.S. Bureau of Labor Statistics.

Unfortunately, thanks to an unspoken rule of many companies, it will be difficult for this rate to change any time soon. Why? Because many simply aren’t interested in hiring on a candidate who is currently unemployed.

The United States is only a few days away from what could be the first traditional default in the nation’s history. Many have predicted the already struggling economy would be turned upside down if the government allowed the USA debt to default on Aug. 2.

However, while default has never occurred in the U.S., it has happened in other countries around the world. In fact, according to This Time Is Different by Carmen Reinhart and Kenneth Rogoff, in addition to the U.S., Australia, Canada and New Zealand are among the few that haven’t defaulted. So which countries have met this dreaded fate?

A debt plan introduced by House Speaker John Boehner was set for vote on Thursday night until it was postponed due to disagreements within the Republican camp. The delayed vote represents the ongoing struggles within Congress to come to an agreement on how to manage the breached debt limit and avoid an impending default.

Debt Ceiling Vote Potentially Moved to Friday

What is your value in the online marketplace and are you working for far less than you should? Many people earn income by performing web-based jobs, but often accept wages well below what their time and energy is truly worth–just check out the pay scale currently being offered for writing, blogging, information technology, customer care and other jobs on the internet.

You’d think that many job seekers would stomp off and refuse to accept wages that are dramatically low, but that’s not so. Why might you provide internet labor for pay that keeps you living paycheck-to-paycheck?

Cartoon by Steve Breen, Townhall.com, April 15, 2011

The U.S. economy has gone through its share of ups and downs in the past few years– many more downs than ups, of course. In the latest economic struggle, lawmakers are negotiating ways to avoid default after the national debt ceiling was reached in May.

Debt is the number one concern on the minds of everyone these days, both in the U.S. and abroad. In fact, national debt has been threatening to turn economies upside down–luckily, it seems like Greece has averted their own debt crisis. Now let’s see if our own country can do the same. If not, at least we can get books and music at a steep discount as the bankrupt national chain liquidates its stores.

EU Unveils Greek Debt Plan