Monday, September 10, 2012
Italy's Mario Monti rejects extra conditions for Draghi aid
Italy would not accept additional conditions being attached to any support from the ECB's bond-buying programme beyond the guidelines already agreed with EU partners, Prime Minister Mario Monti said.
Money, Politics and Health Care
Bill Moyers looks at the influence of money and lobbying on health care reform efforts in Washington, D.C.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/HV7x2c4jqMI/profile3.html
Sunday, September 9, 2012
How is Your Money Thermostat Impacting Your Finances?
“Limits exist only in the mind” – Unknown In last week’s post I explored one of the key concepts presented in T. Harv Eker’s book “Secrets of the Millionaire Mind” – your money personality and how it can impact your financial future. One other concept presented in the book has sparked an “aha moment” in...
How is Your Money Thermostat Impacting Your Finances? appeared first on Retire Happy Blog.
Related posts:- How is Your Money Personality Impacting Your Finances?
- Get serious about your finances
- Unlocking pension money: Getting money out of a LIRAs
- Be aware of putting money into depreciating assets
- Saving money for children
Source: http://retirehappyblog.ca/how-is-your-money-thermostat-impacting-your-finances/
MF Global and the Risks Looming in the Repo Market
MF Global's crippling bets were only possible because the brokerage firm was able to borrow voraciously in a debt market that also played a big role in the collapses of Lehman Brothers and Bear Stearns.
Saturday, September 8, 2012
Isaac Brings Higher Gas Prices, South and North
Filed under: Energy
By JONATHAN FAHEY, AP Energy WriterNEW YORK (AP) - Drivers are being hit with the biggest one-day jump in gasoline prices in 18 months just as the last heavy driving weekend of the summer approaches.
As Hurricane Isaac swamps the nation's oil and gas hub along the Gulf Coast, it's delivering sharply higher pump prices to storm-battered residents of Louisiana and Mississippi - and also to unsuspecting drivers up north in Illinois, Indiana and Ohio.
The national average price of a gallon of gas jumped almost five cents Wednesday to $3.80, the highest ever for this date. Prices are expected to continue to climb through Labor Day weekend, the end of the summer driving season.
"The national average will keep ticking higher, and it's going to be noticeable," says Patrick DeHaan, senior petroleum analyst at Gasbuddy.com
The wide storm shut down several refineries along the Gulf Coast and others are operating at reduced rates. In all, about 1.3 million barrels per day of refining capacity is affected. So, it's no surprise that drivers in Louisiana, Alabama, Mississippi and Florida saw gas prices rise by a dime or more in the past week.
But some states in the Midwest are suffering even more dramatic spikes. Ohio prices jumped 14 cents, Indiana prices soared 13 cents and Illinois prices jumped 10 cents on Wednesday alone according to the Oil Price Information Service. Days before Isaac is expected to douse those states with rain, the storm forced the shutdown of a pipeline that serves a number of Midwest refineries.
Drivers in the region were angry and confused. "''I saw gas in my neighborhood for $3.56 a gallon just Tuesday morning, and now I'm paying $3.95. It's terrible," said Mary Allen of Cincinnati as she paid $20 for just over five gallons of gas. She wondered how Isaac could drive up gas prices in Ohio - and then resigned herself to a holiday weekend without travel.
The price surge is happening at the wrong time and the wrong place for Dickson Stewart, a 56-year-old electronics consultant, who is driving from Minneapolis to Savannah, Ga. this week. He stopped at a BP station in downtown Chicago Tuesday - home to some of the highest retail prices in the country - and paid $4.49 a gallon to fill up his Jeep Wrangler.
Stewart expects gas prices to fall after Labor Day. Analysts say he's probably right.
As Isaac fades away, the summer driving season ends, and refiners switch to cheaper winter blends of gasoline, stations owners should start dropping prices. "There is some very good relief in sight," DeHaan says.
When Katrina hit in 2005, the national average for gas spiked 40 cents in six days and topped $3 per gallon for the first time. Isaac likely won't have the same result, though its full impact on the refineries is yet to be determined.
The refineries are not expected to suffer long term damage. But refiners decided to shut down or run at reduced rates to protect their operations.
These facilities consume enormous amounts of electric power and generate steam to cook crude oil into gasoline, diesel, jet fuel and heating oil. If a refinery loses power suddenly, operators can't properly clear the partially cooked oil out of pipes, and re-starting the refinery can take several days or even weeks.
In advance of Isaac, refineries instead conducted what is known as an orderly shutdown, so they can re-start as soon as the power supply is assured again. The Gulf refineries will likely stay off line for about three days.
Isaac cut into the amount of gasoline being produced, and raised fears that supplies could fall dangerously low if the storm proved worse than expected. When supplies drop or are threatened, wholesale prices rise. Then distributors and station owners have to pay more to fill up their station's tanks. They then raise their prices based on how much they paid for their current inventory, how much they think they will have to pay for their next shipment, and, how much their competitors are charging.
Prices spiked particularly high in the Midwest because Isaac forced Shell to close a pipeline that delivers crude from St. James, La. to refineries in the region.
Gasoline prices are particularly vulnerable to spikes around this time of year. Refiners keep a low supply of more expensive blends as driving season ends, knowing they'll soon be able to make cheaper winter blends of gasoline.
"We are really working with a just-in-time delivery system," said Tom Kloza, chief oil analyst at the Oil Price Information Service.
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Pump prices were on the rise even before Isaac blew in. The average price for gas rose about 40 cents from July 1 to mid-August because of higher oil prices and refinery problems in the Midwest and West Coast. At $3.80 per gallon, the national average is the highest since May 1 and well above the previous record for Aug. 29, $3.67 in 2008.Wednesday's jump of a nickel was the 10th biggest one-day jump on record, according to OPIS, and the biggest since the average price rose 6 cents on February 15, 2011 when turmoil in Libya was rising.
But prices could quickly come down if refineries can soon get up and running. Crude oil prices fell Wednesday and wholesale gasoline prices fell the past two days, suggesting the spike in retail gasoline prices could be short-lived. Americans will soon do less driving and the switch to cheaper blends will be well underway by mid-September.
That's still too late for Sharon Simon of Gadsden, Ala. She's driving 900 miles north to her daughter's wedding in Olean, N.Y. this weekend, and will now have to spend an extra $30 to $50 on gasoline for the trip. "Just as we are getting ready to head out the prices go up," she said. "I'm fed up with the surge in price every time there is a holiday."
__
AP Writers Lisa Cornwell in Cincinnati and Michelle Janaye Nealy in Chicago contributed to this report.
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Source: http://www.dailyfinance.com/2012/08/30/hurricane-isaac-higher-gas-prices-south-and-north/
Leo Gerard
Bill Moyers sits down with United Steelworkers' International President Leo Gerard to discuss seeking economic justice for workers in the middle of an economic crisis and how he sees the future of American manufacturing. Gerard shares his thoughts on how unions will fare under the Obama administration, what kind of stimulus might be needed and what the future of American industry might look like.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/18_WWCluP_Q/profile.html
Sunday morning
After a busy day yesterday I am enjoying a bit slower pace today.
We ended up having a power outage last night due to a storm. Was off for about 4 hours.
The crock pot pulled pork turned out good. I added a couple things to the recipe. The last time I made this I tried one of those Clue House seasoning packs. Too many chili flakes in it for us. Great if you like hot and spicy.
Thanks to a video I found online I got two of my three hard drives out. The screws on my most recently deceased laptop are tight tight tight so I will try it again today. Those will go to the recycle depot tomorrow.
I am watching Canada vs Great Britain beach volley ball right now and curled up with one of my kitties, my coffee and my laptop.
Life is good.
We ended up having a power outage last night due to a storm. Was off for about 4 hours.
The crock pot pulled pork turned out good. I added a couple things to the recipe. The last time I made this I tried one of those Clue House seasoning packs. Too many chili flakes in it for us. Great if you like hot and spicy.
Thanks to a video I found online I got two of my three hard drives out. The screws on my most recently deceased laptop are tight tight tight so I will try it again today. Those will go to the recycle depot tomorrow.
I am watching Canada vs Great Britain beach volley ball right now and curled up with one of my kitties, my coffee and my laptop.
Life is good.
Source: http://shakingthemoneytree.blogspot.com/2012/07/sunday-morning.html
Friday, September 7, 2012
Bear Stearns Ex-Managers to Pay $1 Million to Settle Fraud Case
The federal judge overseeing the securities fraud case said it was "being settled for, relatively speaking, chump change," but that he was inclined to sign off on the settlement.
John Lithgow, Part II
He's played heroes, villains, saints, sinners, a ballet-dancing elephant, and a space alien, now actor and children's author John Lithgow - best known as Dick Solomon from NBC's hit show 3rd Rock from the Sun - reveals a new side of himself... poetry lover. The award-winning stage and screen star Lithgow shares his favorite poems, insights into acting, and thoughts on the enduring power of art. Lithgow currently stars in the Broadway revival of Arthur Miller's All My Sons. He has penned several children's books, as well as compiled poems for The Poets' Corner: The One-And-Only Poetry Book for the Whole Family.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/Hx-EA1qhxjM/profile.html
Director Oliver Stone, Part I
Veteran Oliver Stone came back from Vietnam a changed man. Now, with four films on the Vietnam War under his belt –Platoon (1986), Born on the Fourth of July (1989), Heaven & Earth (1993), and Pinkville (2007) – Oliver Stone talks with Bill Moyers about how his experiences of war has affected his life, his work and his vision of the world today. Also on the program, Bill Moyers comments on President Obama's decision to escalate troops in Afghanistan.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/NAsJdMJJdXQ/profile.html
Thursday, September 6, 2012
Health Care
A Bill Moyers Essay.
Source: http://feedproxy.google.com/~r/bmjvodcast/~3/VLHhxHIxizA/profile2.html
Are Fees Eroding Your Wealth?
Much of the time, it’s easy to overlook fees. They seem rather small, and it doesn’t seem as though they will have a big impact on your finances. However, you do want to watch out for them. Over time fees can add up, eroding your wealth and even resulting in a little missed opportunity. Are...
Are Fees Eroding Your Wealth? appeared first on Canadian Finance Blog.
Related Posts:Source: http://canadianfinanceblog.com/are-fees-eroding-your-wealth/
Reality Sets In for Nokia and RIM After Patent-Boost Fades
Filed under: Technology, Stocks in the News, Telecom
Apple Inc. (NASDAQ: AAPL) won a decisive patent case victory over Samsung, and it is no surprise that Apple is asking that at least eight Samsung products not be allowed to be sold in the United States. While the news was good for Apple, the news briefly acted to bolster both Nokia Corp. (NYSE: NOK) and Research In Motion Ltd. (NASDAQ: RIMM) share prices. Apple hit a new high on Monday, but the percentage gains out of the chute were far larger at the start of the week for Nokia and RIM.
That was then.
Nokia and RIM are still in trouble, and no Samsung disruption is going to bring immediate salvation to their product offerings in the immediate future. Even if the lack of non-Apple competition does help, the vote so far is that the help will not be enough to stave off this bloodletting trend of Nokia and RIM.
All you need to do is look at the share prices of each and the performance this week. Both stocks resembled classic "gap and crap" patterns, where the gap up was met by immediate selling.
RIM shares closed at $6.94 on Friday, but they gapped up more than 5% to $7.29 on Monday morning on the Apple-Samsung news. The high was also $7.29, and shares then slid to $7.07 at the close on Monday and then to $7.02 for Tuesday's close. After a 1.3% drop so far on Wednesday, the price of $6.93 is now a penny less than where RIM's shares were on a prepatent news basis.
The Finns are not doing much better. Nokia shares closed at $3.28 on Friday, gapped up 7.4% to $3.31 at the Monday open with a high of $3.39 that day. Monday's close of $3.25 was under the opening price and shares closed at $3.03 on Tuesday. Now shares are down by 5% at $2.85.
Nokia and RIM might as well tell their employees that they will only get coal in their stockings this holiday season. The post-news trading reaction is only just further confirming that what was good for Apple does not really mean that anything is better for Nokia or for RIM.
JON C. OGG
Filed under: 24/7 Wall St. Wire, Active Trader, Consumer Electronics, Technology, Technology Companies, Telecom & Wireless Tagged: AAPL, featured, NOK, RIMM
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Source: http://www.dailyfinance.com/2012/08/29/reality-sets-in-for-nokia-and-rim-after-patent-boost-fades/
Wednesday, September 5, 2012
How to Be Grateful in Times of Need
Our lives go in cycles and at some point everyone experiences challenges in their lifetime. Some more extreme than others. When we are in challenging times it’s not always easy to find the goodness in life, especially when money is tight and we’re faced with worries about our income or family.
Personally I am currently facing one of the biggest challenges of my life and as a result my eyes are blurry from tears and my mind is clogged with worry. These worries keep interrupting my thought process, bring down my mood, and make me feel like crap all day long. It makes for a very difficult and unproductive day and sometimes these worries wake me up in the middle of the night too.
In the past when I have been faced with a big challenge I found that I was able to begin turning things around for the better by being grateful for what I already had in my life that was good.
If you too are struggling and worrying about life, here are some of the things that I practice, and you can too. I can tell you from experience that being grateful can actually work miracles.
Begin by Reminding Yourself About What’s Going Right
If you’re overwhelmed by worry and negative thoughts, find a quiet place, grab a pen and paper and make a list of answers to this question: What do I have to be grateful for in my life?
Start your list with the most obvious things such as your health and family. Do you have a car? A home? Clothes on your back? Food on the table?
- You don’t have to have the fanciest or the most expensive items for you to be grateful. Even if you buy your clothes at Goodwill, at least you’re clothed and warm. A used car in good condition will get you to work just as easily as a brand new car.
- Don’t forget to give thanks for the small things in life, such as getting a good parking space at the grocery store, or getting a restful night sleep before an important day.
Appreciating what you already have in life will free you to make positive changes.
Being Grateful In Spite of Setbacks
There’s no denying that you will suffer setbacks in life. It’s a fact of life! While it may be difficult to be grateful during these times, it’s important to remember that good can come from difficult situations.
For example, if you’ve recently lost your job, be grateful for the skills you have. With your skills, experience, and the knowledge you possess, you may end up finding a more fulfilling job that gives you more money or more responsibility while being closer to home.
As strange as it may sound in the moment of despair, try to be grateful during difficult times because, as one door closes, another opens the way to new opportunities. After all, you can’t find bright new possibilities in your life if you don’t experience a setback at one point or another.
Be Thankful For Life’s Setbacks
Setbacks are there to challenge you to be better, stronger, faster, and wiser.
The true test of your attitude is to be thankful for the obstacle ahead of you (even if you don’t understand why it exists in the first place), then push forward, stronger than ever.
Why should you be thankful? Because with each challenge you overcome, you gain the wisdom and courage to succeed the next time around. And if it weren’t for each and every challenge in your life, you’d never learn and grow!
Being grateful everyday will help you lift that overbearing black cloud that can be so stifling. You’ll begin to realize that life is good and you can make it through anything.
Source: http://tacklingourdebt.com/2012/08/13/how-be-grateful-times-need/
Friday, August 3, 2012
Make More Money, Get Out of Debt, and Live Your Life
For many of us making more money and getting out of debt is a top priority. Just take a look around at all of the Personal Finance blogs that talk about saving and spending money, as well as making more money so that they can pay off their bills and get out of debt.
My husband and I have a considerable amount of debt which honestly feels quite overwhelming at times. To combat that we work on following these simple steps so that we can still enjoy life, while we work towards becoming debt free.
Think about How Much You Need to Work
When you’re lining up work or contemplating a new job, think about your expenses and make sure you can earn the money you need to live comfortably. Keep in mind how many hours you can work while still having time for the things you love to do.
- Consider if you’re eligible to work overtime. A few extra overtime shifts a month could make a considerable difference in paying off some debt.
- Consider starting a side hustle doing freelance work based on something you enjoy and are good at.
How Much is Your Time Worth?
When you’re considering a job or a commission, you need to think about making sure you’re getting paid what you are worth. If you are worth more money, don’t take jobs that pay significantly less unless there is a compelling reason to do so.
- Try negotiating with your employer for an increase in salary, a higher hourly rate, or a performance bonus structure. If you have experience in a highly specific field it generally earns you a higher salary.
Use Public Transportation
The price of gas is high and it’s only going to go higher. Think about alternative means of transportation and think about what you can do to reduce the wear and tear and the gas consumption of your car in general.
- Check out the local bus or train schedules and if they meet your needs, consider selling your car to pay off some debt. Selling a car will eliminate a car loan, gas costs, maintenance fees, and insurance premiums.
Buy Locally
When you’re looking to buy produce, take the time to buy from local vendors. Not only will the food taste better, but you won’t be billed the extra transport costs and you’ll be supporting local business.
- Visit the local gift shop for that birthday gift rather than heading to the mall. Or have dinner at a local restaurant rather than a chain restaurant. You’ll likely save money on gas while supporting your local businesses.
Work Locally
If you work close to home you’ll have lower transportation costs and more time to spend with your family. This can make a job worth keeping.
- Working locally also allows you to run errands during lunch breaks so you have more family time on the weekends.
Avoid Late Charges on your Bills
Avoid late charges on your monthly bills by setting up automatic payments for the monthly amounts.
- Set up online banking so each month your bills will be paid automatically. No more forgetting to mail the cheque or going into the bank!
Budget Your Money
Make sure you know how much money you earn each month and exactly where it’s going. Don’t forget to figure in small costs like gas, dry cleaning, and snacks. Every dollar matters when you’re trying to get out of debt.
- Call your utility companies and ask to be put on their budget plans. Paying the same amount each month for electricity or oil is much easier than paying a $600 bill during the cold winter months.
Ask Yourself: Do I Need It?
Impulse buys can take a real toll on your cash flow. Before you buy anything, give it a second thought and discuss it with your spouse or friend. Can you get it cheaper elsewhere? Do you even really need it?
- Walk away for a day and think about whether you really need to spend the money or ask the salesperson if the item will be on sale soon. But chances are you really don’t need it in the first place.
Keep the Thermostat at a Reasonable Temperature
When you want to keep your bills low, you will find that one of your heftiest bills will be the heating bill if you live somewhere cold, and the AC bill if you live somewhere hot.
- Learn to wear layers of clothing and agree on a preset temperature with your family. Installing an electronic thermostat allows you to program the times and the temperatures so no one has to touch the thermostat.
- To help deal with warmer temperatures make sure your blinds and draperies are closed all day long to block out the heat. Try using fans to circulate the air, and of course wear lighter clothing. Of course when it hits 100 degrees as it has recently in many parts of the world, nothing beats turning on the AC. You might just have to eat less next month.
Buy Good Quality Items
It might seem counterintuitive, but buying more expensive things that are of a higher quality can be useful when you’re looking to save money. Quality things break less frequently so you don’t end up buying the same items over and over.
- This doesn’t mean you have to shop for designer clothing that’s out of your budget range. Simply look for higher quality items and buy fewer clothing pieces this season.
Being conscious of how much money you spend each month is critical to getting out of debt, but that doesn’t mean you have to live like a hermit without any entertainment. Choose some of these easy ways to save money and enjoy living your life simply!
Source: http://tacklingourdebt.com/2012/07/10/make-more-money-get-out-debt-and-live-your-life/
Why More D.C. Spending Is Not the Answer
Philip Klein, DC Examiner
In arguing for more government spending and higher taxes, Democrats have been advancing two competing arguments about America's expenditures on infrastructure.One was invoked by President Obama last month when he told small business owners, "Somebody invested in roads and bridges. If you've got a business -- you didn't build that. Somebody else made that happen." In other words, government spending on infrastructure facilitates individual success.
In arguing for more government spending and higher taxes, Democrats have been advancing two competing arguments about America's expenditures on infrastructure.One was invoked by President Obama last month when he told small business owners, "Somebody invested in roads and bridges. If you've got a business -- you didn't build that. Somebody else made that happen." In other words, government spending on infrastructure facilitates individual success.
Source: http://www.realclearpolitics.com/2012/08/02/why_more_dc_spending_is_not_the_answer_286357.html
Thursday, August 2, 2012
July goals
On this, my first official day of summer (for me), I thought it good to set myself a few goals for the month of July. They are not onerous at all, but it gives me a bit of a focus. July is always my unwind month. August 1 comes and it feels like 'holy crap summer's almost over'
Here goes:
Here goes:
- Walk 31 miles this month. I don't care if I have to do it in stints around the block where the neighbours start to question my sanity, or in stints on the dreaded treadmill, it will happen.
- Lose 6 lbs this month (and keep it off)
- Bake 4 times (on the cooler/rainier days)
- Try 2 new recipes
- Snowflake $150 (recycling, change, money left from jars)
- Read 4 books just for ME
- Read 5 books for school ( There are so many new books at the middle years level so it helps to have read as many as I can so I can suggest good books for the kids)
- Continue to drink a ton of water and eat what I can to improve my health
I will make this into another page at the top and will update on Sundays.
Source: http://shakingthemoneytree.blogspot.com/2012/07/july-goals.html
And So It Begins
Hello everyone! I have finally found a nice relaxing Saturday morning in which I am able to dedicate an hour to providing a post to you all! (Although you will not see this until Monday) It seems to have been a very good time for self-improvement lately as I have gotten many things done that I [...]
Source: http://feedproxy.google.com/~r/MyCanadianFinances/~3/15vHwe4FWeQ/
Andrew Bacevich
Historian, international relations expert and former US Army Colonel Andrew J. Bacevich returns to the JOURNAl to discuss America's long war in Afghanistan.
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