Posted in Economy

A new government report shows that the U.S. economy grew at the fastest pace in more than six years during the fourth quarter of 2009. The report, which was released on Friday, revealed more specifically that the national gross domestic product rose at a 5.7 percent annual rate. This is much stronger than expected and may be a sign that the economy just may be recovering.

Why the Improvement?

Economists had predicted growth, but not as much as we saw in the fourth quarter. According to a survey from Briefing.com, economists had forecast growth of 4.7 percent. With the economy only rising at a 2.2 percent annual pace in the third quarter of last year, what could have caused the growth?

Some say the improvement was driven by a turnaround in inventories - the supply of goods businesses produce when anticipating sales.

At the end of 2008 and early 2009, many businesses slashed their inventories in fear of the economic conditions. However, according to Friday's report, the inventory increased drastically in last year's fourth quarter, mostly in the auto industry.

Does This Mean the Economy's Improving?

So does this shift in economic growth mean that the economy is improving? Well, not exactly. While inventory is up, personal consumption hasn't grown as much - two percent to be exact.In other words, companies feel comfortable enough to increase their goods but consumers don't feel comfortable enough to buy it.

Since consumer spending accounts for more than two-thirds of economic activity, it's safe to say that the growth of the economy is probably more of a numbers game at this point than a reality.

Have you increased your personal consumption in the last few months?


Posted in Economy

So, the people in charge of this country have said that the recession is over and we're in the midst of a recovery.

Do you believe it?

With continually high unemployment numbers and low home sales, you could see why we're not entirely convinced. But we try not to be a doom-and-gloom kind of site. It's sometimes better to laugh through difficult periods, and we found a few photos that will give you a good chuckle.

Evidence: No one wants to drive to get a drink

drinking hard times
Photo by Adam Tinworth

Well, according to this photo at least. With gas prices continuing to bump and fall, walking for a beer might be your best bet. It's hard to stomach $4 a gallon when you remember the days when it was under $1.

Evidence: Who Needs a Storefront?

roadside barber
Photo by Citizen of Two Worlds

Yes, it's pretty cheap to buy real estate these days, and yes, President Barack Obama just gave small businesses a huge boost. However, retail rent still isn't cheap and it's not that easy to get a mortgage these days (though we're here to help you find a fantastic rate).

Evidence: Thievery is back in vogue

thief
Photo by donncha

Identity theft is one thing, but theft by duck? It's not fair. Maybe they're not paying the Aflac spokesduck enough?

Evidence: No Bathrooms

What, no bathroom?
Photo by photocillin

It might just be a misplaced sign. But maybe it's not. We count it as evidence.

Do you have photographic evidence? Show us!


Posted in Online Banks, Rates, Savings Account

Chesapeake Bank's online division, Clear Sky Accounts , recently dropped their savings account interest rates to 1.60% . The financial institution already lowered their rate in December . Some features of the Clear Sky Savings balances include:


  • 1.60% APY for balances up to $249,999.99
  • 0.50%...


Read Full Article: Clear Sky Accounts Savings Interest Rate Drops Again to 1.60% APY

Posted in Economy, Financial News

If you didn't have a chance to sit down and watch President Barack Obama's speech on Wednesday night, you missed what you thought you missed: information that may affect your wallet. His focus was placed some on health care reform and foreign policy, but mostly, he discussed job growth and...



Read Full Article: Obama's State of the Union Address and Its Effect On Your Wallet

Posted in Debt, IRS Tax Debt, Loans, Personal Loans, Tax

loans to pay off the IRS

Having tax debt is a major problem for a lot of taxpaying Americans, especially those who are self-employed or own their own business. The IRS does offer settlement options and extensions to pay off the debt, but not all taxpayers qualify. So what do you do if you need to pay off your tax debt...



Read Full Article: Is Taking Out Loans to Pay Off the IRS a Good Idea?

Posted in Personal Finance

Rich married men need to think twice about having extramarital affairs. We assume that having all that money must be nice, but with a little distance and perspective it's clear to see that for the hormonally overactive it can actually be dangerous.

Ethics and morals aside, a one-night stand can...



Read Full Article: The Money Mistakes Behind High-Profile Mistresses

Posted in Loans, Student Loans

President Barack Obama has a plan to cut the federal student loan payments of millions of Americans. His plan, which was originally announced on Monday, would lower the top payment that a borrower could make above a specified amount.

The Basics of Obama's New Proposal

Under Obama's proposed...



Read Full Article: Obama Wants to Reduce Student Loan Payments

Posted in Investments

lessons from video games

Isn't it strange how heroes and bosses in video games never fail to do well financially? Whether the Super Mario Brothers are collecting their coins, Link from the Legend of Zelda is grabbing his rupees or Sonic the Hedgehog is saving up rings, their money seems to add up and actually be worth...



Read Full Article: What Video Games Can Teach You About Investing

Posted in Economy

A new survey released shows that economists are optimistic about the recovery and believe that it will continue in 2010 as job losses slow and hiring picks up. According to results from the survey, which was released on Monday by the National Association for Business Economics, all respondents...



Read Full Article: Good News: Economists Optimistic about 2010 Hiring Outlook

Posted in Banking, Identity Theft, Infographics

With all the recent changes in the banking and credit card industries, you're bound to get more than a few e-mails or letters from your bank or credit card company.


But, wait. Was that last e-mail really from your bank?

It might have been, but there's a pretty good chance it might not have...



Read Full Article: How Banks Are Losing Millions from Phishing (Infographic)

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