Posted on January - 29 - 2012
What goes up must come down: we learned that in science class. Too bad that same logic doesn’t apply to credit card interest rates. Annual Percentage Rates continue to climb high. According to data from Credit-Land.com, a leading credit card research website, the average APR is now 14.94%.
That rate percentage is the highest since 2007, when the company began tracking the data.
While the rates remain at an all time high, they have been stable for the majority of this year. In fact, the national average has only gone up from 14.71% to 14.94% since the begging of this year. A reason for this could be that credit card issuers are no longer trying to maneuver to adhere to the Credit CARD Act of 2009, which required lenders to restructure the whole way that they presented credit cards to borrowers and the fees that they could charge borrowers.
“These high rates are more than likely the sign of our troubled American economy,” said Arnold Taubman, chief economist at Credit-Land.com. “Our e
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Posted on January - 19 - 2012
It is a good rule to question every study on income inequality by asking, “Why those years?”
The latest version is from the Congressional Research Service (CRS), and the author concludes:
“Changes in income from capital gains and dividends were the single largest contributor to rising income inequality between 1996 and 2006. Changes in tax policy also made a significant contribution to the increase in income inequality, but even in the absence of tax policy changes income inequality would likely have increased.”
And about those years:
“The years 1996 and 2006 are examined for several reasons. First, both years were at approximately similar points of the business-cycle with moderate inflation (about 3%), a modest unemployment rate (about 5%), and moderate economic growth (3.7% in 1996 and 2.7% in 2006). Second, 2006 was the year before the August 2007 liquidity crunch and the onset of the severe 2007-2009 recession. Third, there were major tax policy changes between these two years. Fo
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Posted on January - 13 - 2012
Loans which have low-interest rates, few penalties and practically no fees attached are called cheap personal loans. Nowadays there are so many lenders. It is far easier to get this type of lending today. There are two things on which interest rate and quality of cheap personal loan depend. These things are borrower and lender.
Who Present Great Rates On Loan
Only high quality, famous lenders are ready to present great rates on loan. At the same time, they want to present such deals to applicants who have a clean credit rating and solid financial history.
Search Lending Options
Some creativity is required in researching lending options. You will have to think outside the box. It means that if you need a loan to pay off debt, you do not have to just look for personal debt lending.
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Posted on January - 06 - 2012
Consumers concerned about sharp rises in the cost of their grocery shopping should consider themselves lucky after a study by The Grocer magazine found a typical basket of goods now costs one-thirteenth of what it did in 1862.
A shopper in the Victorian era would need £1,254.17 in real terms to fill their larder each week, compared to just £93.95 today. The magazine calculated the increase in prices by applying an average earnings measure of inflation to the 1862 prices of a basket of commonly-bought goods. The study looked at 33 items such as a dozen eggs, bread, hot chocolate, grapes, a toothbrush and a litre of sherry.
The analysis found a Victorian shopper would need to spend a third of their monthly income on food. Today, modern consumers spend less than 10% of their income on groceries. T
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