called “one of the most expensive forms of credit in the world” (Skiba and Tobacman‚ 2008). A typical two-week payday loan costs 15EUR per 100EUR borrowed—a 391.07% annual percentage rate. Many people call consider taking these loans as getting into a “debt trap”. From the other side‚ industry representatives claim that its rapid growth is explained by a great value of the services in helping the clients to improve their welfare. Usual bank loans aim to help people buy products they would be able to buy
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This article caught my attention because it is covering the government shutdown‚ which is something we discussed in class. This government shutdown occurred because Congress couldn’t agree on a budget. In part due to Obama Care and the ever rising debt ceiling among other reasons . In reading this article I have a better understanding of what was all affected by this government shutdown. I have family in the military so obviously they were affected‚ active duty personnel have been furloughed until
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GDP Expanded at 4.2% Rate in Second Quarter Corporate Profits Also Surged‚ Rising 6% from the First Quarter to an Annual Rate of $1.840 Trillion Ben Leubsdorf. August 28‚ 2014. Retrieved from http://online.wsj.com/articles/gdp-expanded-at-4-2-rate-in-second-quarter-1409229416Gross Domestic Product The purpose of Mr. Leubsdorf’s article was to explain how the current GDP exceeded prior expectations. Ben went into great detail about the encouraging direction of not only the GDP but also of unemployment
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laws" -Mayer Amschel Bauer Rothschild. Rothschild makes a great point; the people of the United States have zero effect on their own currency. Not even the government has control over the production and distribution of its own currency. That control was given to banks and a private corporation named the Federal Reserve . These private institutions have created a cycle that enriches them and indebts the public. This vicious cycle needs to be terminated‚ or at least altered. In the USA as well as
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issues from eating dirt that deadly parasites and toxins could be in. A solution for Haiti is very difficult because they are one of the most poverty countries in the world being in debt $1‚448‚000‚000.00: 34% GDP annually‚ the debt per person is $17‚200‚000.00 US‚ and annual income of only $440 per family. Being in debt
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credit card companies and banks are getting richer‚ while most Americans are getting more in debt. The economy is in trouble‚ therefore‚ more and more people are relying on credit cards. In today’s society we are constantly trying to get out of debt‚ but in the process of trying to get ourselves out of debt‚ we create more debt. One of the major problems that most of us are dealing with is credit card debt. Most credit card companies are not looking out for your best interest. They are constantly
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business cycle. Additionally‚ it is also important for The Federal government to concern yearly about budget deficit‚ when revenues are less than expenditures‚ because if deficits are not paid off and happen again and again‚ the government will accumulate debt. There are some arguments around this topic such as the conservative‚ liberal‚ and radical argument. First of all‚ the Conservative argument provides some adverse effects of deficit to prove that concern about budget deficit is important. First
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Eskimo Pie may be worth more to Nestle‚ because they can create and mix their products. 3. What would be the capital structure (i.e.‚ debt ratio) of Eskimo Pie after its IPO if Reynolds Metals accepts the two-step transaction proposed by Wheat First? Debt in year end 1900 = 744K Assert = 29‚518K For IPO‚ need to borrow 2M for paying dividend So total debt = 2.744M‚ Assert = 29.518M + 2M = 31.518M For Total Assert‚ it need to
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Many studies have shown a negative correlation between economic growth and natural resources‚ a finding often dubbed “the curse of natural resources.” However‚ oil and other minerals may not be the biggest curse in developing countries. In many of them‚ the amount of foreign aid is a far larger share of government revenues. In Burkina Faso‚ for example‚ aid accounted for two-thirds of the government budget and 8% of GDP over the period 1985-89. In Mauritania‚ it accounted for 60% and 22%‚ respectively
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list of black money holders. The money which belongs to the nation and it’s citizens‚ is stashed in the illegal personal accounts of corrupt politicians‚ IRS‚ IPS officers and industrialists. An amount which is 13 times larger than the nations foreign debt. Every year this amount is increasing at a rapid speed but the Indian government seem to be silent over this matter from a very long time. The total black money accounts for 40% of GDP of India‚ if all the money comes back to India then that could
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