It seems as though more and more people have been taking out personal loans and according to Experian, personal loans are growing at 11% annually faster than student loan or credit card debt. Personal loans now exceed $300 billion as of this year mostly because personal loans can help consolidate credit card debt or make funds available for for major projects. Compared to credit cards, personal loan interest rates can vary much more. This wider range of interest rates allows borrowers with good
Cryptocurrency was introduced on a small scale in 2009 in the form of Bitcoin. Since only those close to the project where able to participate, the new currency was not readily available or made aware of. Due to increased media attention, the future of transferring value has increasingly gained attention on both the local and global scale. While this appears to be another step in the ev
One thing that a lot of people in the country look forward to after working for all their lives is retirement and once they hit retirement, they have expectations to receive certain help from the government. One of those expectations is to receive social security. We pay into it on every paycheck from the day we start working until the day when we finally retire. “As of June 2018, about 175 million people worked and paid Social Security taxes and about 62 million people received monthly Social S
First off, the Libra is not actually Facebooks version of cryptocurrency. It was created by the Libra Association of which Facebook co-founded. According to Mark Zuckerberg who was speaking in front of the Congress stated that the Libra “would help the world's unbanked enter the financial system. And the US needed to lead in cryptocurrencies”. My question to that statement would be, if someone has access to a computer, smartphone or other network capable device, from which they could obtain cr
Global Economic Platform Based on Blockchain Technology
Currently in the business world, cryptocurrencies are the foundation for the anonymous and cross-border transactions. As the world evolves more into digital, technological era with sophisticated systems, cryptocurrencies will be the future of world trading. During this time, there is no organization that can participate in the process of cryptocurrency trading. Apparently, the trading volume of the cryptocurrency market is currently at
This week US President Donald Trump signed legislation that indirectly supports protesters in Hong Kong. The bill was passed by an overwhelming majority in both houses of Congress last week, and Trump had until next week to either sign or veto the proposal. If Trump had not taken action by December 3, the bill would have been passed automatically.
There has been some uncertainty about what Trump would do, as he assured Chinese President Xi Jinping earlier this year that the United States would t
As Saudi Aramco looks to sell 5% of its company's shares, questions rise about the operations of the company and what that will mean for investors. The world's largest oil producer, controlling 15% of the world's oil reserves according to the Wall Street Journal, was nationalized in the 1970's and has since disclosed all financials from public view. April of 2019, Aramco decided to release their financial status to the public, showing it is more profitable than Apple, Exxon Mobil, and many other
As the holiday season is upon us we will be seeing both the positive and negative effects of the economy according to Jeffry Bartash’s article titled, “The holiday season will showcase the best and worst of the U.S. economy.” His article addresses how consumer spending is currently high, while business spending is not. The article states, “American households have spent a bundle this year to keep the economy plowing ahead in a record 11th year without a recession. Consumers have accounted for 80
On Thanksgiving Day, shoppers spent more on Black Friday shopping than they have in previous years. In 2019, shoppers spent approximately $4.2 billion on Thanksgiving. This is a 14.5% increase from last year’s spending, also a year record high in spending.
This year’s Black Friday in-store spending surpassed $4 billion. According to preliminary data, Black Friday online sales are estimated to be $7.4 billion, shoppers already have spent $600 million as of 9 a.m. eastern time. This is a 19.2% inc
The Mexican and United States economies have historically grown and declined together. However, in 2019 that has not been the case. Data has been released by Mexico's National Institute of Statistics and Geography shows that Mexico's economy by around .1% for about three straight quarters. It has been called by some economist as a "technical recession"
What is so unusual about Mexico's economic slowdown is that the U.S. economy is rising. The last Mexican economic slowdown that was not accompanie
The International Monetary Fund (IMF) and S&P Global Ratings have called on South Africa to enact urgent economic reforms due to the country’s weak economic growth, deteriorating debt situation and major headwinds for state-owned enterprises.
According to CNBC, South Africa economic growth is set to remain below population growth for the sixth consecutive year in 2020. This prediction was made by observing both the low per capita GDP (gross domestic product) growth and low job creation.
Between 2008 and 2009, the demand for cars fell substantially because of the recession that was experienced throughout the world. Since then, the demand has been generally increasing, but this is the first time since then that the car market has seen a steady decline in demand. In 2018, global passenger car sales fell from 81.8 million units to 80.6 million units. According to Raimonde (2019), “worldwide sales in 2019 look likely to fall by another 4% to around 77.5 million new vehicle sales”. T
Australia, a nation who has a developed and high growth economy, is set to have robust trade relations with the rest of the world. The land of kangaroos is known to have good trade relations with many developed and developing nations. It is also making investments in emerging countries so that they can increase their returns on investments. On 18th November, Australia and China celebrated their fifth anniversary of the China-Australia Free Trade (ChAFTA) at Sydney. Its trade
President Trump is not one to be shy of controversy, he has created many problems with countries like China and Mexico.Placing large tariffs on large economical countries will cause angry relationships, relationships that can cause harm down the road.
Not only is trade an important subject for Mr.Trump but its also a sensitive one. The Beijing resume has bought around 20 billion in american farm products as part of an influential trade deal. President Trump suggests farmers buy larger tractors,
Despite negative news coming from overseas regarding economic instability, low GDP growth, the US economy shows some signs of improving economy. The unemployment rate hit a 50-year low in September 2019 of 3.5%. Along with the overall low rate, the unemployment among Hispanic and African Americans is at its lowest as well. Can we talk about positive trends in US economy? Is it just a temporary improvement before new recession? If we look at the GDP annual growth, we can see that it is on the dec
Finally, after almost three years of waiting Aramco have lunched their IPO process in local Saudi Arabia stock market “Tadawul”. The company that’s expected to have a profit that equals the sum of Apple and Google revenues together just three days ago on 17 Nov 2019 went public. Aramco has declared 8.52$ per share will be the price of the stock and 0.5% out of 5% is going for the public of Saudi individuals and local companies while the rest of 4.5% going for other investors. Since the announce
The New York Times reported a few days ago that the Federal Reserve Chairman had a "cordial" sit down with President Trump. They purportedly discussed several areas including: interest rates, negative interest, low inflation, easing, dollar strength among other topics related to monetary policy. While Fed Chair - President meetings are somewhat commonplace, it is universally understood that monetary policy is determined seperately from politics and is in no way to be influenced by the Pr
The reason that the US dollar could hurt the world economy is because of the way that money is barrowed and currency is exchanged. Emerging markets, as I mentioned in a different post are what some economists see as the key to avoiding a global recession. The issue with this is that these economies tend to barrow money in dollars, which at this point time is valued more than other currencies. The falling value of the Euro in comparasin to the dollar could als hurt these economies, as most of the
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