Watching your retirement account balances dissipate during a bear market is never fun—but rash action can only amplify the problem. Here’s how to protect yourself during turbulent times.DON’T SELL WHEN YOU SHOULD BUY is the first and most important caveat to remember. The knee-jerk emotional response in this type of market is to dump everything […]
McCain Economic Plan Proposes Homeowner, Retiree Relief
Sen. John McCain’s economic plan, which focuses on foreclosure prevention, growing the economy and controlling spending, has received mixed reviews. Billions in Tax Cuts Proposed McCain’s economic plan, unveiled Tuesday, calls for $52.5 billion in tax cuts, mostly to older Americans, the Wall Street Journal reported. A big chunk of the plan calls for […]
Budget and Tax thoughts for Dobbs Ferry
Tough economic times will require a local budget response. By mid August of this year financial firms globally have posted $493 billion in write downs and credit losses according to Bloomberg News. The World Bank reports this figure may rise to one trillion dollars. New York State is especially vulnerable to the financial service […]
Iceland Nationalizes Third Major Bank, Halts Stock Trading
In a move to prevent its teetering economy from falling into bankruptcy, Iceland ceased all trading on its stock exchange until Monday, and took over Kaupthing, the country’s largest bank. Awash in Red On Thursday, Kaupthing, Iceland’s largest bank, became the third of the country’s top three banks to be taken over by Iceland’s Financial […]
Banks and their Social Capital
It happened around afternoon the other day, when some one sent me a panic stricken mail lamenting that his bank had crashed and that his life’s savings had all gone up in smoke and that he was penniless. He further howled in his mail that since he did his business banking from that very same […]
How to Successfully Navigate Your Business through an Economic Downturn
An economic downturn is a phase of the business cycle in which the economy as a whole is in decline.This phase basically marks the end of the period of growth in the business cycle. Economic downturns are characterized by decreased levels of consumer purchases (especially of durable goods) and, subsequently, reduced levels of production by […]