A new probability model released by Bank of America Merrill Lynch this week shows the probability of a double-dip recession is above 80 percent. The study shows a number of debt and financial issues in the United States and around the world are having an impact on the economy.

Bank of America Corp, currently the largest bank in the U.S. by assets, announced on Thursday that it would receive a $5 billion investment from Warren Buffett’s Berkshire Hathaway. The investment announcement had an impact on Bank of America’s shares, which had been dropping on concerns that it might need more capital.

Buffett to Buy Preferred Shares

Economics is the study of supply and demand, and much of politics is about economics. At odds, in both the political and economic forum, are two ideologies: One group is labeled red and the other blue. Unfortunately, when in comes to jobs in the U.S., employment is disproportionally moving to the red side.

By Casey Bond

Most students are heading back to school within the coming few weeks or have already begun. Interestingly enough, however, one of today’s most pressing concerns and a prominent subject affecting the lives of all Americans won’t be covered in most classrooms. Teaching children about finance, money management and savings in particular, is an area of education that’s been left for parents to handle.

It seems even Sex Ed is a less taboo subject to cover in schools than personal finance. So maybe it’s time that changed.

For anyone interested in buying a home, partnering with a mortgage lender who can provide low rates and a loan tailored to the borrower’s individual needs is incredibly important.

Bank of Internet has a wide range of home loan products to offer borrowers, including both fixed and adjustable rate mortgages. Their most aggressive and intriguing products are the 15-year fixed and 5/1 ARM loan options, which can accommodate short- or long-term home financing goals. No matter what you’re looking for in a mortgage, Bank of Internet will evaluate your finances on an individual basis and find the right program for you.

Photo courtesy of y2bk via Flickr

Giving gift cards is a popular alternative to handing over cash for Christmas or a birthday, but the everyday shopper can take advantage of gift cards, too. Don’t wait until the holidays to start spending with plastic–here’s how to save money with gift card deals right now.

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.

While analysts and economists may disagree on the solution to an economic recession, they all agree that job creation and wage rates play a critical role in economic growth. You may be inclined to believe the issue today is a lack of jobs, citing job cuts and layoffs as support. However, the winners of the Nobel prize in economics for 2010 disagree–it may be a lack of proper job training.

As fears mount that global markets are no longer safe, investors are turning to gold as an investment, which has resulted in its price reaching a new high. As of Friday morning, the price of gold had jumped to as high as $1,881 per ounce, which marks a 7 percent increase this week alone.

Gold Price Increases 25 Percent since July