Lucy's Econ Blog

Critique of GDP Podcast

2007-05-29T06:04:00.000-07:00

Today I will review Mari & Jared's Podcast on the Gross Domestic Product. Their podcast has incredible content, both throughly explaining the GDP, while simultaneously adding their own little touch to spice up the podcast, and keep it interesting. The recording is loud, but not too loud, and completely clear, they made sure to have very good quality in their recording. The images used for the podcast were good, not off task at all and contributed greatly in keeping the listener tuned in. Mari and Jared's method of using pictures of themselves talking on the phone was brilliant. They made the podcast in the style of a phone call, which is one of those things where you have to go like "why didnt I think of that?". The podcast in general was very educational and funny to listen to, they did a really good job

Taxes - How Does The Government Spend Money?

2007-05-29T05:59:00.000-07:00

We all know that the money we pay in taxes goes to the government. this what anybody ever asked what that money is being spent on? There is a number of Americans who truly don't know where their money goes. For example, 32% of American income taxes are spent on Human Resources; however, 20% is spent on past military, 31% is spent on the CURRENT military, while the other17% is spent on physical resources and general government

Savings and Debt

2007-05-21T05:51:00.000-07:00

Americans don't save money anymore because the reality of it is that a good amount of Americans are living paycheck to paycheck and with their rent, mortgage, car payments, family expenses and everything else, they have nothing left over to save. The average family makes from 66,000 to 70,000 dollars a year which is not that much when you pay all your necessities so it's really hard to save and as time passes it will get even harder.

US Trade Deficit: getting better?

2007-05-14T05:55:00.000-07:00

Over half of the 9.1 million vehicles produced last year were sold in foreign countries. More KFC fast food restaurants are opening in China now than in the United States.American companies have been doing business abroad for a long time, but never before has it been so important. This year, for the first time, Standard & Poor’s expects the 500 companies in its benchmark stock index to generate more than half of their sales in foreign countries.This year, the company said it expected its export business to keep increasing overall sales. The company estimated that its engine and machinery sales in North America would fall 11 percent this year. But the rise in the rest of the world — up 19 percent in Europe, Africa and the Middle East and 17 percent in Asia — will more than make up for the loss.

Taxes - How Does The Government Get Money?

2007-05-09T05:53:00.000-07:00

Americans pay many different types of taxes, One important issue examined in this section is how the income tax burden is distributed among the American population. Popular belief holds that those in the lower half of income earners pay a disproportionately high share of taxes, while wealthier Americans pay less than their "fair share." the top 1 percent of taxpayers (ranked by adjusted gross income) paid 34.3 percent of all federal income taxes; the top 5 percent paid 54.4 percent; the top 10 percent paid 65.8 percent; and the top 25 percent paid 83.9 percent. Another important issue examined in this section is the effect that taxation rates have on a nation's overall economy
The federal corporation income tax was adopted in the United States in 1909, four years before an individual income tax was authorized by constitutional amendment.the corporate tax generally yielded more revenue for the government than did the individual income tax, but today the individual income tax generates about five times more revenue than does the corporate tax.In recent years, some economists and political candidates have proposed that the U.S. adopt a "flat tax" (also called a proportional tax) system that would tax everyone, regardless of income, at the same rate.

Student Loans - Beware

2007-05-08T05:58:00.000-07:00

Culinary schools can only do so much to help students avoid trouble with private loans, Culinary training can cost more than other kinds of schooling because classrooms are often small, fully equipped kitchens, and supplies include expensive food and wine. Sufficient training could come from community colleges or other basic programs that offer certificates for less than the cost of a year’s worth of books, equipment and uniforms at a brand-name culinary school. the president of the Culinary Institute of America, estimates that 62,000 students are in culinary schools, 35 percent more than five years ago.About 72 percent of the schools that offer two- or four-year culinary degrees are community colleges or public institutions, Mr. Ryan said. The rest are run by for-profit companies like the Art Institutes and the Career Education Corporation.culinary schools are maturing. More schools are becoming accredited, and top-tier schools are raising academic standards and focusing on education beyond mastering French sauces. Liberal arts or business courses train students to work in a broader array of jobs like manufacturing, publishing, television and food science. well for my student loan i won"t be able to apply not because i don"t want to but because it can"t . But i think that people should be carefull when doing the student loan . They should not get to much because is gooing ti be hard to pay it bac

Critique of Federal Reserve Podcast

2007-03-16T05:52:00.000-07:00

i was watching ashely and justin . there procast is very good . there speech
was nice and clear . They introduce them self with a picture and that was very cute . i think they did a great job . it was strong . they act both act like if they didn't know what federal reserve was it . there were really nice . they did a great job . i love it

Compound Interest and the rule of 72

2007-03-15T06:09:00.000-07:00

the compound interest and the rule of 72

The rule of 72 says that in order to find the number of years required to double your money at a given interest rate, you can just divide the interest rate into 72.
For example, if you want to know how long it will take to double your money at eight percent interest, divide 8 into 72 and get 9 years.The rule of 72 is remarkably accurate, as long as the interest rate is less than twenty percent.You can also run it backwards. If you want to double your money in six years, just divide 6 into 72 to find that it will require an interest rate of about 12 percent.

Insider Trading Scandal - What Happened?

2007-03-02T06:22:00.000-08:00

A large Insider Trading network was broken up on Wall Street
One of the largest Wall Street insider trading rings, since the 1980s. Some of the suspects are executives and brokers at firms such as Bear Stearms and Bank of America Securities have been accused of $15million. A recent report stated that the suspects used research information regarding stock values and corporateacquisitions stolen from UBS Securities and Morgan Stanley to make stock trades. Ringleaders in the UBS scheme allegedly used clandestine meetings at Manhattan's famed Oyster Bar and disposable cell phones, secret codes abd cash kickbacks to hide their illegal activities. The suspects will be in prison up to 25 years, only one off the suspectshas already pleaded guilty.

The Dow Jones Industrial

2007-03-02T06:00:00.000-08:00

The reason this went down alot is because there area few problems developing. Also the world is surprised by China's plan because it clam down on illegal stock market investiments.
The Dow went down because many people decided to sell their stocks and not as many people bought the stocks that were being sell. so for this reason the price went down.. if you buy sometimes it will go up or it will go down .

economic system

2007-02-27T06:06:00.000-08:00

Every morning you wake up and thing of what is going to happen today ? what are you going to do ? Economis is a big suspect in life . Economin means relating to the production, development, and management of material wealth, as of a country, household, or business enterprise. There many opportunity of cost . Opportunity cost is the cost we pay when we give up something to get something else. Some examples of apportunity cost is if you want to buy a present for some one it could be for your parents . cousin . or boyfreinds or even grilfreinds . you want to but something nice so what you do is go look for something nice that they weil apprechiate . This may cosy you . this is an example of oppertunity of cost . One example frommy own life is that if i want to travel out in the world . i will have to work in order to get the money . no work no money . but the consequence i that you work and will get the money and as soon as you got the money you could spend what ever you want . another examples wil be if you want to buy a house . you will have to work hard .

type of economic system

2007-02-27T06:02:00.000-08:00

FOUR MAJOR ECONOMIC SYSTEM

Traditional Economies

Traditional economies are found in non-developed countries
Some parts of Asia, Africa, South America and the Middle East have traditional economies
Customs govern the economic decisions that are made
Technology is not used in traditional economies
Farming, hunting and gathering are done the same way as the generaTION
Economic activities are usually centered toward the family
Men and women are given different economic roles and tasks

Market Economic

it an economy where in the consumers determine the value of things by how much or how little they purshase something . if an items doesn't sell much. The value of its stock drop and production is reduced . If something is in high demand then the price of the items aolng with the value of the stock in the producing firm rises . this allow the frim to build additional plants to make more of the high demand items until a point of equilbrim is reached

Centrally Planned (Command) Economy

-Centrally Planned Economy is an economic system in which the state or government controls the factors of production and makes all decisions about their use and about the distribution of income.
Mixed Economy

-Mixed Economy is an economy that has a mix of economic systems. It is usually defined as an economy that contains both private-owned andstate-owned enterprises or that combines elements of capitalism and socialism, or a mix of market economy andcommand economy.

Stock Market Game

2007-02-02T06:12:00.000-08:00

My stragety for this game is to accumulate the most money possible and be in the first place and beat Mr. MoloneyI will buy some stock from recognized companies and others stocks from ones that are not that well known but that make a lot of money!!!
With the 50,ooo that I start with, I will try to rise it to the most, which is pretty hard because the game only takes a few months and I will have to be very precise to buy from the right companies.