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Politics Can Impact The Financial Market

Financial media often add to political hype by presenting people, rumors, or events as if they were all-important for the market. Reports of politicians juggling gigantic sums, and surrounding debts, deficits, surpluses, spending, credits, and big ideas with great fanfare are stirring investor concern. In our opinion, politics does influence the market, but not in that obsessed, party-oriented, and person-oriented way that experts and investors often assume. Forex brokers (https://www.forextraders.com/forex-brokers/) can tell you how much of an impact politics have on market growth.

A Colorful View Of Politics

Most people see politics and its impact on the market through a colored lens. Investors become obsessed with individuals or impressed with rhetorical skills or a unique style that makes a particular politician appear to be the best choice. Many think that certain political parties, ideas, and policies are inherently good or bad for the market. They are convinced that one party is ‘pro-business’ and the other is not.

In doing so, they ignore the fact that politicians are marketing people. They respond to emotions and spread views or agenda items to advance their political career. Their program is not necessarily what they will do — it is usually what they think will get the most votes. Many politicians, even some quite famous ones, have completely changed their minds over time. From Greek politicians who oppose austerity and suddenly rally behind cost-cutting and privatizations to US presidents returning to tax promises, history is full of examples of situations where the deed was not put to the word.

Politics And The Market

We believe that markets are not interested in people and have no demonstrable direct relation to a political party. Regardless of the political spectrum from which the government had been embodied, they are equally capable of pursuing policies that can directly affect the market.

Consider America, for example, whose return data on equities goes way back in time. In our experience, most investors believe that the Republican Party is better for stocks than the Democratic Party. But since 1926, the US S&P 500 has averaged 14.8 percent in years that a Democratic president was in power, versus 8.8 percent for a Republican. [i] This is not to say that Democrats are better for the stock market. It simply means that the common idea that there are entrepreneurial parties is a misconception.

Across Europe and globally, both the left and the right have been in power during rosy bull markets and hideous bear markets. You cannot say with certainty whether one party is better than the other for the market. Moreover, we do not have a ‘comparison group’, as scientists call it. So you cannot be sure what would have happened to the market if the opposition party or some other politician had been in power. In the Western world, business is the mainstay of economic activity — and businesses can be very flexible and resilient. It is sometimes difficult to say whether a government’s policy is helping or hindering the economy — even when it comes to aiding measures. In addition, in many large countries, the government is not one party.

Legislative risk

Markets are not led by parties and individuals, but that does not mean that politics has no influence. In the developed world, it’s mainly about legislative risk. What is the likelihood that a government, regardless of party, will pass a bill that changes property rights, which could undermine risk appetite and harm the market? Because radical legislation can foster risk aversion in the market, we think that a deadlock — politicians who disagree and cannot pass new laws — is often a good thing. It reduces the chance that they will pass extreme legislation.

Sometimes a stalemate means that opposition parties are constantly blocking the government’s policy agenda. When a government has a narrow majority — or is a minority government — it can struggle to get important legislation passed. But a stalemate can also occur in situations where parties are divided internally or in disagreements between coalition partners.

Many parties have contentious supporters who may not follow the party line. Coalitions are often marriages of convenience with few ideological interfaces. That means that not much is happening in the legislative field. Some argue that a stalemate stands in the way of required reforms — which is true in some countries. But our experience is that reform often produces winners and losers. And in more competitive economies — such as those in much of the developed world — reform is usually not really necessary. Low legislative risk limits uncertainty, which is positive for equities. When radical changes like a sword of Damocles don’t hang over stock markets, we believe that it is one less worry for investors.

What’s Political Psychology?

At its very center, political psychology is focused on a person’s behavior within the given political system. Psychology alone can’t explain intractable conflicts, war, Holocaust or even other extreme behavior of the state or collective political entity in a complex environment. Individuals are not acting or responding within a vacuum. Rather, their behavior greatly varies and responds to the differences in the following:

  • Political cultures
  • Political institution
  • Leadership style and;
  • Social norm

As a matter of fact, psychology has greatly influenced the behavior of foreign policy, mainly because of how it interacted with the specific elements of distinct societies, national governments and international system. Basically, the same logic is applied to a wider range of phenomena.

How People Generally React?

Complex mix of political context and individual psychology is shaping public reaction to terrorism. Public support for policies regarding anti-terrorism is basically dependent on the reaction of a threatened government, how they perceived the competence as well as effectiveness in fighting terrorism and, the vulnerability felt by their citizen towards future terrorist events.

External forces like the terrorist capabilities and determination and strength of government national security policy vary over time and contexts. These are all factors that are influencing how a citizen would feel and react on a given situation.

A weak government and powerful terrorist have a tendency to create anxiety amongst threatened population whereas the opposite is more likely to conjure feelings of anger. Aside from that, not everyone is responding to threat in the same manner and individual psychological disposition has added role in figuring out whether someone is reacting with anxiety or anger with terrorism.

Generally speaking, a society that is dominated by feelings of anger might support aggression towards their action for antiterrorism while a population that is dominated by anxiety might oppose aggressive decisions that may exacerbates the risks of escalating terrorism.

Using Your Own Will Against You

In a broader sense, questions regarding public reactions to terrorism or authoritarian response to a fascist rule are associated to among the biggest concerns in political psychology; how well the citizens are equipped in handling their democratic responsibilities, are they capable of deliberating over present issues to arrive at a fair decision or will they be succumbing to internecine enmities and become victim of irrational intolerance?

Many of the same procedures take place among political leaders and even at work such as in QQ online. Political psychology is used deliberately to control a person’s reaction and decision by those who are well aware of how to manipulate it.

Fund-Raising Prowess of VP Hopefuls, Did It Influence Biden’s Decision?

Will fundraising abilities be a critical aspect when Joe Biden decides on his choice of Vice Presidential running mate in the forthcoming general election in November? Apparently not as much, because reports just came in that Biden chose Senator Kamala Harris as his running mate.

Financial contributions are seen as silent indicators of real voters supporting Joe Biden’s candidacy, even if only for the purpose of ousting Trump from the Oval Office. The more funds raised by a VP hopeful, the greater the number of individuals backing the members of the electoral college who will vote for the Democratic tandem. Although Trump often boasted of the huge financial backing raised by his campaign team in his behalf, most of the funds came from big donors who in recent months have started withdrawing their financial support.

 

VP Hopefuls Who Achieved Tremendous Success in Raising Campaign Funds for Joe Biden

Joe Biden has earlier remarked that he will be choosing a governing partner and has been holding one-on-one interviews to determine the best pick. In the meantime, and with the vetting process still ongoing, the fund-raising prowess of each VP hopeful is now becoming an important consideration.

Currently, Senator Elizabthe Warren is in the lead, having raised as much as $7.7 million dollar by going along with high-dollar fund raising events that she did not engage in for her own presidential candidacy. In addition, she drew as many as 50,000 attendees to her grassroots event, while also sending emails to her and Biden’s small-dollar list of supporters. The amount is still expected to increase as Warren is scheduled to hold more fund-raising events in Biden’s name.

Sen. Kamala Harris is doing great as well. According to Politico sources , her fundraising activities on behalf of Joe Biden has already raised more than $5 million.

Senator Tammy Duckworth, who after having co-headlined three fundraisers with the Biden couple, as well as after appearing in other events, contributed more than $3 million for the Democratic campaign.

Politico also reports that Susan Rice, former President Obama’s national security adviser and also a potential VP pick, was able to raise funds by simply headlining fund raising events for Biden even without the latter in attendance.

Experts Observed That The Hong Kong Financial Market Is Surprisingly Stable

At the moment it does not look like that investors are pulling their capital out of the city in droves.

“The Hong Kong dollar has been trading on the strong side of the spectrum since April – at a rate of 7.75 Hong Kong dollars per US dollar. This means that there is a constant inflow into the city, “ — Vincent Tsui, Asia analyst at the international analysis house Gavekal Dragonomics in Hong Kong, the Handelsblatt. 

The Hong Kong dollar is pegged to the rate of the American dollar and can only range between 7.75 and 7.85 per US dollar.

When it became known at the end of May that the government in Beijing wanted to extend its powers in the Chinese Special Administrative Region significantly with a security law for Hong Kong, the Hong Kong stock exchange had plummeted and foreign companies had expressed concern according to FX brokers like igcom,

The New Security Law in HongKong

The new security law marks a turning point in the financial metropolis. In contrast to mainland China, Hong Kong has had a functioning and independent legal system to date, from which investors have also benefited. However, under the pretext of preserving national security, the new security law creates considerable possibilities for Beijing to intervene in Hong Kong. Just one week after the controversial Security Act came into force, the National Security Authority in the financial metropolis was opened.

The security bureau should oversee that the new law is being implemented by the Hong Kong government. If there were a significant outflow of capital, it would largely go to the Asian metropolis. Singapore is the obvious alternative for wealthy bank customers and investors who distrust the Hong Kong financial cente. All business related to mainland China would remain in Hong Kong.

This is the bulk of Hong Kong’s financial transactions.

“No either-or situation”

Previously, a surge in foreign currency balances in Singapore had sparked speculation that it was linked to Hong Kong’s political turmoil. Already last year, when street protests paralyzed Hong Kong, Singapore’s leadership rejected the impression that the city-state could emerge as a beneficiary of the crisis. “In Singapore, we thrive best when the region is stable and other countries we do business with are doing well,” said Prime Minister Lee Hsien Loong, referring to the situation in Hong Kong. Observers see several reasons why the Hong Kong financial market has so far been unaffected by the significant changes in the metropolis.

Predicting an end to Hong Kong’s hedge fund industry is premature. “There are currently some IPOs in the pipeline, so the demand for Hong Kong dollars is likely to increase,” says Merics expert Zenglein. Chinese institutional investors are not bothered by the National Security Act, said Zenglein.

The strong Hong Kong dollar and capital inflow to the financial metropolis could be due to the interest rate differential and the positioning of foreign investors for the upcoming major IPOs, Tsui said.

Where does Your Tax Money Go?

We are all paying taxes. But where does the federal government puts the tax money they have collected? Basically, federal government is collecting taxes in an effort to fund different public services. In fact, in the fiscal year of 2019, the federal government has spent over 4.4 trillion dollars, which amounted to 21% of the GDP of the country.

Out of that money, over 3.5 trillion dollars was financed by the federal revenue while the remaining 984 billion dollars was financed via borrowing. This includes lending people money to open a startup business and assisting them to grow it. So if you want to have better understanding of this matter, les mer om lån her.

Public Services Funded by the Government

As mentioned before, the government is funding several public services. What kinds of public services if you may ask?

Social Security

In 2019, 23% of the budget or a trillion dollars were paid for Social Security. This has provided monthly retirement benefit that’ll average at $1503 to 45 million retired workers in December of 2019. Social Security provided benefits as well to around 3 million children and spouses of retired workers, 6 million surviving spouses and children of deceased workers and 10 million disabled workers as well as their eligible dependents in last year of December.

Healthcare

The 4 health insurance programs of the country namely Children’s Health Insurance Program or CHIP, Affordable Care Act or ACA, Medicaid and Medicare have contributed 25% of the budget in 2019 or around 1.1 trillion dollars. Almost 3/5 of the amount or 651 trillion dollars all goes straight to Medicare, which provided health coverage to approximately 61 million Americans who have disabilities or over 65 years old. The rest of the amount was divided across CHIP, ACA and Medicaid. 

Under normal circumstances, CHIP and Medicaid are providing long-term care or health care to 82 million low-income parents, elderly people, people with disabilities and children more or less. Both CHIP as well as Medicaid are requiring matching payments from the state. In fact in 2019, 9.6 out of the 11.4 million people have enrolled in health insurance via the ACA marketplace collected subsidies that lower out-of-pocket costs and premiums can offer. That is an estimated cost of 56 billion dollars.

Defense and International Security Assistance

697 billion dollars or 16% of the budget have gone for security and defense related international activities. This is to maintain security and safety of Americans against threats both local and international.

NY Gov Calls McConnell’s State Bankruptcy Bill a Dumb Idea

Angered by Republican Senator Mitch McConnell’s move to pass a bill for states to declare bankruptcy, NY Gov. Cuomo called it the dumbest idea ever.

Actually, McConnell made his remarks in connection with his and other Republican allies’ refusal in giving financial aid to Democratic States. Rather than receive bailouts coming from the $2.2 trillon coronavirus relief fund approved by Congress, McConnell wants states with steep shortfalls consider declaring bankruptcy while facing the Covid-19 crisis.

The Republican Senate leader referred to Democrats, who after pushing to spend tens of billions of dollars in helping residents in their states, namely in California, New York and Illinois, are now banking on financial aid coming from the stimulus fund in addressing their shortfalls. His statement appeared under a press release captioned as “Stopping Blue State Bailouts.”

McConnell, who apart from being senator of Kentucky is also the senate majority leader, whilst branding himself as the grim reaper of Congress. He stated the controversial remarks in response to an interview conducted by radio host Hugh Hewitt.

According to news sources, McConnell’s statements have fueled bipartisan backlash from several state governors.

NY Governor Lashes Back

In his Friday briefings about the present state of the Covid-19 crisis in New York, Gov. Andrew Cuomo (D) berated McConnell’s support of a bill that will force states to declare bankruptcy during the ongoing pandemic crisis. Apart from calling the passing of the bill as a “really dumb idea,” the NY Governor dared McConnell to pass the law, saying

“Your suggestion, Sen. McConnell, pass the law, I dare you to do that.” “Then go to the president and ‘say sign this bill that allows states to declare bankruptcy.’ …”I dare you to do that if you want to send a signal to the markets as well as send an international message that the U.S. economy is in turmoil.”

NY Republican Representative Peter T. King came out with a tweet last Wednesday, calling McConnell’s suggestions and remarks “shameful and indefensible,” whilst branding McConnel as the Marie Antoinette of the U.S. Senate.”

Republican New Hampshire Governor Chris Sununu came out with a press statement in which he called McConneell’s statements ridiculous because it means allowing a state to go bankrupt, and forego all the programs and benefits that a state has to institute, manage and operationalize for citizens.

The Real Picture Behind Trump’s Claims of Being the Greatest President in the History of the U.S.

President Trump often basks in the glory of boasting about job growth during his presidency, which his supporters readily believe.

Yet time again, economists and analysts point out that economic and job growth did not start during Trump’s presidency. His showing was only a continuance of the progress made by the Obama administration, after pulling the U.S. economy out of the “Great Recession” that lasted between December 2007 and June 2009.

Fortunately, it was President Obama who was at the helm of the government’s efforts to bring the country on the road to recovery. The financial crises of the Great Recession were wrought by toxic mortgages, breakdowns in corporate governance and excessive credit card borrowings. All of which stemmed from poor financial regulations and ineptitude by those handling the Federal Reserves.

Upon Trump’s assumption of office in the year 2017, the country was already well on its way to economic recovery. Yet even if job growth was sustained, the rate of job growth in America has not actually made an impressive change during Trump’s presidency.

Although Trump promised a GDP growth of 4%, his administration managed to post an increase of only 2.9% during the years 2017 and 2018, coming from an average GDP growth rate of 2.07% linked to economic recovery initiatives under Obama.

At the end of 2019, the rate of GDP growth plummeted to 2.00% – 2.01%; even lower than the GDP growth rate before Trumped assumed office.

The drop was largely expected in light of the trade wars that Trump initiated with other countries, particularly vs. EU-member countries and China. Many businesses, particularly the manufacturing sector were largely affected by the tariff increases imposed on raw materials being imported from China and other countries. Apparently, Trump did not have a clear idea of how tariffs actually work, since the burden of paying the costs of importing the raw materials eventually falls on the American end-users or consumers.

The Real Picture about the Economic Growth During Trump’s 3-Year Presidency

A substantial portion of the tariff collected from Chinese goods imported by U.S. manufacturers and resellers, estimated at around tens of billions of dollars were paid by American consumers. Most of the funds collected from the increased tariff collections went to subsidies aimed at supporting U.S. farmers, being the hardest hit by the U.S.-China trade war.

 

Mainly because China suspended all importation of agricultural products being supplied by American farmers, instead of caving in to Trump’s trade demands and threats.

Sallie Mae’s New Student Credit Cards : Is It Wise to Use It in Paying Down a Student Loan?

SLM Corporation, the student-loan lender commonly known as Sallie Mae, recently introduced Mastercard credit cards for college students and recent grads.

Sallie Mae’s introduction of the new credit facilities has catchy overtures. They come with a promotional offer of zero annual fee and zero interest, plus cash-back features that award an additional 25% cash-back if used to pay down a federal or private student loan.

Yet those who are not familiar with how credit cards work, should carefully read the terms and conditions.

Credit card analyst and expert, Matt Schulz of CompareCards, said cash-back returns are not big enough to worry over. What new credit card users should pay attention to are the fees, Annual Percentage Rate (APR) or interest rates, default charges and the outstanding balance of their credit card account.

Sallie Mae’s VP of Corporate Communications, Rick Castellano, is into promoting their new credit cards as a way of helping students responsibly build their credit history by rewarding them with cash-backs. Still, credit analyst Nathan Grant of Credit Card Insider, says that Sallie Mae’s unlimited one percent (1%) cash-back reward is very much the same as the cash-backs of student credit cards offered by other financial companies.

According to Grant, the bottomline is that

“Student credit cards are serious financial tools that can help build a student’s credit history only if used responsibly. Otherwise, they can be a gateway to debt when used irresponsibly,”

What Happens if You Use Your Credit Card to Pay Down a Student Loan?

Using a Sallie Mae Credit Card to pay down a federal or private student loan requires careful consideration of several factors. As opposed to business loans or personal loans, student loans, particularly federal loans, are granted under easier terms and conditions. The Sallie Mae credit cards, on the other hand, follow the same terms and conditions of conventional credit cards.

When attracted to the promise of 25% cash-back bonus, it is important therefore to first look into and compare certain aspects.

Compare the interest applied per annum on the student loan against the APR applied on credit payments. Take note that after the promotional or introductory period is over, the zero % interest ends. This denotes that the credit card balance will start accumulating daily interest based on the APR, which can be anywhere between 14.99% (15%) and 24.99% (25%).

 

The simple interest on a student loan is calculated based on the unpaid balance of the principal amount borrowed. If a student fails to pay on the due date, interest on the unpaid principal merely accrues and will be added to the next interest due on the loan. Calculations of future interests will still be based on the outstanding principal amount.

If you will use your credit card to pay down a student loan, the terms of the loan are bound to change. Any credit amount used to pay down a student debt becomes due on the next statement date following the payment. In order to avoid payment of APR-based interest, you must settle the amount in full.

If you do not pay the student loan payment in full, the student-loan payment plus any unpaid APR interest will be reflected as outstanding balance of your credit card. Keep in mind that with credit cards, the APR interest is calculated based on the average outstanding balance of your credit account and not on the unpaid portion of a credit purchase or loan payment.

Paying only the minimum amount indicated in the credit card statement will not reduce your outstanding credit card obligations. That is because minimum payments cover only the APR interest due for the month. In the meantime, the system will continue compounding interest on the outstanding credit card obligations on a daily basis, including unpaid portions of the student loan payment plus any unpaid interest from previous billings. .

Grassroots Fundraising and Its Significance to a Political Candidate

Grassroots fundraising in its simplest context is money solicited from ordinary people without any stipulation of amount contributed, in order to provide funds that will mobilize a movement and achieve a specific mission that will benefit a particular group of people. Grassroots donation has no limit in the sense that any one person can contribute on a recurring basis, to ensure that the movement will be able to have a sustained means of carrying on with its activities.

While grassroots raised funds were originally focused on projects intended to serve the community in which the funds were raised, it came to a point when political candidates had to resort to grassroots funding in launching their political bid. This was deemed acceptable as a grassroots funding purpose since supporting a political campaign, if supporting a political candidate will help push the movement toward success.

Inasmuch as raising of grassroots funds depends on the efforts of volunteers who take actions in soliciting and collecting donations, the political candidate who will utilize the money donated will not be beholden to the donors. If he or she succeeds in getting elected, the politician will be expected to honor his pledge to the multitude of grassroots donors by focusing on policies and projects that will benefit the general public; particularly the sector or public concerns requiring positive government actions.

President Barack Obama Sets an Example of a Successful Grassroots Funded Politician

Although there were other presidential aspirants like Howard Dean, Ron Paul and Bernie Sanders who utilized grassroots fundings for their political campaign, only Barack Obama succeeded in getting elected as President of the United States (POTUS). As POTUS, President Obama made good on his promise to make healthcare available for the less fortunate Americans, and to introduce policies that protect the welfare of immigrant workers.

However despite getting re-elected, political divide did not allow some of President Obama’s healthcare and immigration policies to gain full legislative support. Moreover, the current Trump administration, whose president is politically backed mostly by business institutions and wealthy members of society, continues to carry out actions that would repeal or modify some of Obama’s grassroots-oriented policies; including those addressing climate-change and gun-ownership laws.

2020 Presidential Candidates Supported by Grassroots Political Campaign Funds

Bernie Sanders launched another bid to get the Democratic Party’s nomination as 2020 presidential candidate. However, Senator Sanders is mostly making a repeat of his 2016 advocacies. That being the case, he is currently unable to expand his grassroots base beyond his loyal supporters. Senator Sanders was able to raise around $18 million as grassroots-supported campaign funds.

Democratic Senator Elizabeth Warren of Massachusetts has come to the fore as another grassroots presidentiable seeking for Democratic nomination as presidential candidate to run against Donald Trump. Senator Warren was able to raise $19.1 million in grassroots funds to launch her campaign.

 

She stands firm on her position of not accepting big-dollar contributions coming from wealthy donors. After all, Senator Warren’s political agenda is to fight for the working class people. She vows to advance policies that will require funding paid in part by hefty taxes she intends to impose on America’s super rich people.

Estate and Trust Lawyers

The field or branch of law that legal representatives are practicing is so broad and wide. In fact, even just in the practice of estates and trusts include tons of different things including estate and trust administration, estate planning, elder law, probate and many other things.

With the presence of an estate and trust lawyer on your side, they can be of help in many different things. For instance:

  • Create a plan for what’ll happen to your assets at the time of your demise
  • Avoiding probate like transfer-on-death tools, living trusts, designation of beneficiaries etc.
  • Reducing estate taxes
  • Setting up trusts for loved ones
  • Assistance with probating estates

As a matter of fact, there are more services that estate and trusts lawyers can offer like finding tradelines for sale helpful resource which can help in growing your wealth and finances.

Where they Excel Most?

Trusts and estates lawyer are more expert in handling specific types of issues. Therefore, if ever you needed an estate and trust lawyer, try finding someone who is specializing in your specific concern.

Let me give you a simple example…

One of your loved ones had passed and you need a lawyer in order to mediate in settling assets and possessions. In this regard, it will be a big help if you are going to search for someone who have accumulated years of experience in relation to probating estates in county where your loved one lived.

Make a List

No matter what the situation is, you’ll have to perform research in order to find trust as well as estate lawyers that’s best for you.

Assuming that you don’t have prospects yet, then a good place to start is to search online. As you do so, you can narrow down your research as per the practice area and location of your lawyer from state, zip code or city.

By the time that you have created a list, take advantage of the tips below to perform initial interview. Then after, pick your top 3 candidates.

  1. Check the lawyer’s website – as you are browsing the website, see if they are expert in the field of estates and trusts, do they have valuable information on their site that’s of great value to you? These are some information that you have to watch out.
  2. Contact your local bar association – this is actually an extremely effective way of assessing the expertise and knowledge of your prospective lawyer. Be sure not to disregard it.
  3. Talk to your prospects – there’s only one way to gauge whether you’re comfortable with the lawyer or not and that’s by scheduling a meeting with them and ask questions that aren’t clear to you.

Generating Compounding Profits and Interests with Bitcoin

The greater the number of people who are using Bitcoin, the greater the number of financial services would be created to accommodate cryptocurrency. As a matter of fact, there are constant stream of new applications being developed just for this purpose. One major advantage of Bitcoin than other traditional currencies is the fact that it is not affected by inflation. There’s no central authority that could all of a sudden manipulate the value and supply of this currency.

The Path to Richest with Bitcoin is Here!

On the other hand, if you are interested to make money using Bitcoin, you’re in luck because there are countless of ways on how you can do so rather than keeping them in your digital wallet. As you read this article, I will walk you through on the different ways of making money with Bitcoin.

Buy & Hold

By far, this has been the most effective method known to man. You can make tons of money by simply investing in Bitcoin. This however will require continuous positive trend. Even though the cost increased thousand percents, there’s no indication that the growth slows down.

Mining

This is yet another way that can be applied to earn money using Bitcoin. On the other hand, since the competition is tougher and fiercer, it is more challenging to multiple your money with this procedure. This is something that would demand resources. In the event that you are really determined to try this path, then consider using bitcoin trading robots from GladAge.

Invest in Crypto

Rather than just being a user, you may actually be an investor. The more the people who start to use Bitcoin, the more its value will rise. People are buying Bitcoin for sheer number of reasons.

Many are using Bitcoin due to the reason that it is easier to do online transactions with it. Others however take advantage of it for the cheaper money transfers while some are investing in Bitcoin to not be affected by inflation.

https://www.youtube.com/watch?v=z8r1D9Vu8Sw

Bitcoin as well as blockchain technology has various applications and will keep improving in the years to come. The potential for growth is high and therefore, a lot of people are deciding to invest in Bitcoin using the aforementioned methods.

US GAO Reports Government Agencies Still Using Verification Method Weakened by Equifax Database-Breach

Nearly two years after the Equifax database hacking, the US Government Accountability Office (US GAO) released a report last Friday naming government agencies still using the Knowledge-Base Authentication method in running their online operations. The revelation by the government watchdog serves as a warning to people transacting online with agencies like the Social Security Administration, the US Postal Service, the Centers for Medicare and Medicaid Services, and the Veterans Affairs that their accounts and their benefits, are vulnerable to cyber attacks.

The US GAO is concerned that the Equifax database breach in 2017 resulted to the exposure of personal identifying information belonging to more than 148 million Equifax credit report users.

Knowledge-Base verification is the second stage security measure used by a website when authenticating users intending to replace a forgotten password. Usually the verification requires giving answers to security questions about personal information known only to the account holder. If supplied correctly, a change in password will be allowed to grant access to whoever initiated the password change. .

Breached personal information providing details about credit-cards, Social Security Number, Driver’s License, date of birth, email addresses and phone numbers, can be used by cyber criminals in surreptitiously accessing benefits and other privileges provided by the aforementioned government agencies. Considering that account passwords can easily be replaced by using Knowledge Base authentication approach, rendered weak as a result of the Equifax database hacking that made massive personal information available to cyber criminals. . .

That is why immediately after the Equifax credit report data-hacking transpired in 2017, the National Institute of Standards and Technology (NIST) recommended the discontinuance of Knowledge Base Authentication as second-level method of verifying the identity of online account holders. .

However, the US GAO noted that the 2017 NIST notification did not include guidelines for directing government agencies on how to implement alternative methods of remote identity proofing, such as in-person verification, or through the use of user mobile devices when checking in.

Actions Taken by Government Agencies Cited in the US GAO Report

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The U.S. Department of Commerce agreed to the GAO’s recommendation, and has committed in behalf of the NIST, the Social Security Administration, the US Postal Service, and Veterans Affairs that steps will be taken to improve the security in their remote identity verification processes.

The Center for Medicare and Medicaid Services (CMS), through the Department of Health, disagreed with the GAO recommendation. According to the CMS, the alternative methods recommended are not feasible practices as far as the citizens availing CMS services are concerned.

In response, GAO underpinned the reasons for their recommendation, suggesting that the CMS may consider other alternative methods other than those recommended by GAO in the report.

Is Getting a House Loan Really Necessary

Mortgage, Hypothecary Credit, Loan, Interest Rate

Almost everyone’s dream is a home ownership especially in America because it is one of the countries where getting a house is kind of hard because of its price. Fortunately, the government has addressed this kind of issue and promoted it for years through implementation of a variety of federal programs, since investing on houses will boost the economy. According to the Census Bureau, almost 60 percent of Americans were able to get a house through loans and lainavertailu. You can visit the site Zmarta if you want a loan to make your dream come true or combine existing loans. Zmarta compares loan offers for you so you can choose the best loan offer from their lenders depending on your capability. Check out their Loan Calculator and find the right option for you in just a few minutes.

If you are a beginner when it comes to loans. Here are some of the basic information to help you get through the process of getting a house loan. First is the income requirement where the lenders will assess how much you can borrow money from any bank or institution. The general rule is that your monthly income must be no less than 3 to 3.5 times as big as your monthly amortization. 

Money, Finance, House, Mortgage, Investment, Banking

Bank Accreditation is also another requirement.  Some people find a property first and then try applying for loan at banks which is more hassle compared to finding the accredit developer of your bank. For accredited developers, loan processing will be much more easier and hassle free. In addition to that, they may also have special interest rates or higher loanable amounts.

These are just some of the important requirements you need to understand prior to you loan application. So how are you able to get approval for your application? First is that you need to clean up your credit history. This is one of the problems of borrowers after submitting a home loan application. Whether the debt is from another institution or bank then it is possible that your application will be disapprove because it means that you are not capable of paying off your debt.

Creating stability is also an important step to consider prior to application. Borrowers do not want to invest on risky clients so do the very best you can by staying financially stable. How? You will just avoid new debt and over spending- financing a new car, signing a new loan, or going on an expensive trip.

If you think you are ready for this journey, apply for housing loan at your preferred company/bank/ institution.

Regulations on Auto Title Loans

Just like Tucson auto title loans, a car title loan also termed as “auto title loan” or “title loan” is a type of short-term loan wherein the title of the borrower’s car is utilized as collateral. It is a must that the borrower be the lien holder or must personally own the car. These types of loans are typically for 30 days or less. In the event that the borrower fails to repay the loan on the agreed terms, the lender can take possession or ownership of the automobile and have it sold to get back the amount loaned by the borrower.

Regulations on Car Title Loan

If you have pondered on getting a car title loan, you may already be aware that these short-term loans could be very helpful for an individual who may be of immediate need of cash but unfortunately don’t hold the best or a favorable credit score. Usually, what one needs in obtaining an auto loan is a driver’s license that’s valid and the title to the car, truck, RV, boat, or other motorized vehicle that you own. Nonetheless although you may have done your research on the rate of interest, loan terms, as well as alternative that are similar to title loans is probably common in your locale, you may have forgotten to take into account the laws and regulations of the state regarding car title loans.

What is the Basic Legality?

The particular laws that preside over title loans could differ depending on the town, region, state, or country that you reside in. Some states limit the rate of interest that a lender of an auto title can impose or levy, while some states may not have such laws imposed.

Under Federal Government Law

Car Title Loans, according to the federal government, are permitted and legal except if clearly banned or forbidden by the state. That sentence certainly encapsulated the totality of the interest of the federal-level in Car Title Loans. These loans were solely regulated by the law of the state, with the underlying idea that they were permitted in accordance with the federal law if allowed by the state. But, Title Loans have been the center of topic at the federal level. According to the Bureau of Consumer Financial Protection, they aren’t planning to prohibit or ban car title loans; yet, there are new regulations and laws being deliberated on to make certain that lenders of car title loans are only loaning or lending to borrowers who could meet the expense of to repaying their loans. There also has been a dialogue of forming a governing agency that lenders of title loans will have to periodically report to make sure that clients are protected.

The Promise of Cryptocurrency – Freedom, Democracy, Equality

The craze on cryptocurrency is spreading like wild fire. And yes, governments around the world had been intrigued too as they have started to create their own versions of digital currency. Estonia created Estcoin, Japan with J-coin, Sweden with the E-Krona project, and Petro by the Venezuelan government. These are just a few of the many governments exploring cryptocurrencies.

These government backed coins are called central bank issued cryptocurrency while others called it digital fiat. Regardless of what they are called they are not true cryptocurrencies. Why? True crytocurrencies are decentralized and it is one of the features why many people love the crypto. It is not governed or controlled by any entity as opposed to these government backed coins.

Bitcoins for Freedom

Venezuela is suffering from years of high inflation. There are over 3 million Venezuelans who have fled the country since 2014 seeking for food in nearby borders to feed their empty stomachs. Authoritarianism has gone from bad to worse and Venezuelans have the least power to change their rulers through campaigns for change or via free and fair elections simply because they fear for retaliation. It may seem that there are no other options for the people of Venezuela but technology gave hope to those who believe.

Many Venezuelans are experimenting with Bitcoin to avert inflation and tight financial management. There had been a lot of factors that concealed the liberating potential of Nakamoto’s invention. Lear more about crypto trading here – https://pheeva.com/bitcoin/trading/best-crypto-trading-bots/.

Among others is speculation, fraud, and greed. But for the Venezuelans and others who are living in high inflation and authoritarian rulers, they have seen Bitcoin as a valuable tool to fight ongoing inflation and work around the present government based exchange.

Venezuela is not the only nation where people are able to use Bitcoin to escape present economic climate. Zimbabwe, China, and Russia are experiencing the rage of inflation and are looking into Bitcoins to work around the tightening financial economic standards.

The Dark Side of Cryptocurrencies

The governments are interested in cryptocurrencies too. In this regard, we have to consider the dark side of this rising technology. Intellectuals have sent out warnings already that big data and AI (artificial intelligence) can possibly bolster authoritarians and tyrants everywhere. Venezuela, Saudi Arabia, and Iran have plans and are trying hard to change and centralize the concept of Bitcoin from peer-to-peer decentralized digital money to state-controlled cryptos such as the Petro. This will allow governments to successfully expurgate deals, control user accounts, and elude sanctions.

Keeping coins Decentralized

Cryptocurrencies such as Bitcoin is an insurance policy against an Orwellian future – written by Nassim Nichols

Decentralizing cryptocurrencies can result to opposing force. Other than Bitcoin, there are protected communications software and web browsers, privacy-preserving cryptocurrencies, mesh network units, and control-resistant storage programs. We could make certain that our financial systems and social networks won’t become tools for greed and control by continuously investing in these tools and making them better for the freedom and benefit of the majority.

The Federal Budget Process and the Role Played by Congress

The Federal Budget Process is a 9-step plan outlined by the 1974 Budget Control Act, establishing the role and authority of Congress in appropriating government funds, which the latter will present as a centralized and consolidated budget plan for the federal government at the start of every fiscal year.

Take note that a fiscal year is different from the calendar year that conventionally starts on January 01 and ends on December 31. A fiscal year also covers a 12-month period, but may start and end on any date agreed and settled upon by the federal Congess, state Congress or by a business entity, as the cyclic period. Currently, the the Federal Budget Process is being carried out to create a Budget Resolution for a 12-month period starting October 01 and ending September 30.

The Federal Budget Process

The 9-step process mainly involves submission of budget requests to the Office of Management and Budget (OMB), coming from all federal agencies. The OMB in turn, carries on with the process by reviewing, assembling and preparing all budget requests before they are forwarded to the Office of the President.

Once forwarded, the Office of the President will in turn prepare a budget proposal indicating in dollar values, the President’s funding levels and priorities for each federal agency. The proposal may include changes to mandatory programs that Congress had already enacted; and/ or make certain changes to the tax code.

After which, the President’s final budget proposal will be submitted to Congress, where the final steps of the Federal Budget Process, take place.

The Role of Congress in the Federal Budget Process

The U.S. Constitution empowered Congress to raise revenue from where government spends will be derived and appropriated. Elected officials voted as representatives of their respective state take up positions in Congress either as house representative (congressman) or senator.

Both the House of Representatives and the Senate maintain their own budget committees, whose output will be significant during deliberations and negotiations for the final appropriations bill. Part of their output are the results of hearings with the head of federal agencies, to establish the propriety and necessity of the funds requested.

In addition, there is also a Congressional Budget Office to which certain congressional members are tasked to provide non-partisan analysis and review of the budget proposed by the President of the United States for each fiscal year.

After which, a consensus must be reached by Congress on where the tax burdens must fall, on who are the recipients of the spending benefit and on funding priorities.

The final budget projections and allocations are stated in hard numbers. Once all matters have been considered and agreed upon by the members of the House of Representatives, a Budget Resolution will be prepared and passed to the Senate for review and approval. Once the Senate approves the Budget Resolution passed by the House of Representatives, the approved budget will then be forwarded to the President of the United Stated for approval.

Political Finance – A Quick Overview

What is Political Finance?

Generally, political finance is the term for all funds in the process of political-electoral campaigns. Therefore, political funding can be defined as the funding of present and political party activities as well as electoral campaigns. Specifically pertaining to campaigns of running candidates and political parties. Political finance all over the world presently faces various issues. In an effort to solve these difficulties, all countries around the world will have to have some kind of policies addressing political funding.

There are many sources of political funding, from raising donations to self-funded campaigns. Some individual candidates also tend to get campaign loans to fund their campaign activities. In New Zealand, some candidates get a quick loan in New Zealand to fund the same purpose although this is not the smartest step to take.

Political Finance, Why Is It Crucial?

Political finance plays an active role in democracies. It can help bolster political parties as a whole and as well as individual candidates. It also can give chances to get more equal levels of competition. The truth is, the overall availability of funds is crucial to the total stability of elections as well as in democratic governance. This allows people to put their trust in the political industry and to politicians in general.

One of the primary elements blocking the political electoral approach to attain democratic ideologies in several countries around the world is the impact of funds. While funding is essential for democratic politics, it can likewise become a tool for a few to impact the political approach by vote buying or affecting policy preferences. For instance, many groups from any industry make use of money to govern state policies for their favor. There were many instances reported that many political parties are making use of state resources to keep their power in the government.

Transparency in Political Funding

It is essential to have transparency when it comes to funding of political parties and individual candidates. This is one way to prevent corruption and gain the trust of the people in politics.

Transparency can help a fair and competitive competition by revealing and penalizing undue control over political figures, prevent infiltration of questionable funds into national politics, and promotes political parties and individual candidates to stick to the policies for a fair and better electoral campaign.

The need for transparency in political funding had been accepted around the globe via the UNCAC or the United Nations Convention against Corruption. This suggests that countries around the world ought to take appropriate legal and administrative steps to improve transparency in the financing of candidatures for chosen public offices.

All political parties throughout various nations require funding to actively take part in the political arena. And while financing is important in every political campaign, it is also the source of major threat in many governing bodies today. With the threat of that funding brings, the people ought to be smarter in casting out their votes.

Why It is Important for Money to Circulate Constantly and Widely

A stable economy is one in which money circulates effectively and continuously. When money held by a person or entity transfers to another on a daily basis, money becomes available for use to others. If large sums of money in an economy go to the hands of individuals who place them in financial markets, or stash them in personal cash vaults, even hide them in walls or floors, less money circulates; likely stunting the growth of an economy.

What is Money Circulation and What are Its Indications

Money circulation is the actual transfer of physical cash on hand, which transpires when consumers buy goods or pay for services. However, for money circulation to be effective, the exchange must generally transpire within the same economic territory.

The stable flow of money will carry on from consumers to retailers, to wholesalers or distributors, to manufacturers, to raw material providers, up to the very people who toil on natural resources to produce or extract the most basic requirement of a product. If such is the case, it denotes that almost all participants in an economic sector will have money to circulate at their end.

In the process of transfers, business entities aim to collect cash in amounts that enable them to pay for salaries, utilities, maintenance, tools, and other things necessary to sustain business growth. Growing businesses create new jobs, use new spaces and pay additional taxes.

The government in turn, must use taxes in ways that will benefit the general public; not on some political projects that favor only the players and supporters of a current administration.

Salaries on the other hand represent the source of money from which consumers derive cash they will put into circulation. Ideally, money received as compensation should exceed a person’s cost of living. If such is the case, a consumer can expand coverage of money circulation by purchasing other products, aside from those that they buy or pay for to meet the cost of living. Even more ideal is that they can save money in banks, since a bank in turn, will be able to generate loanable funds.

Money placed in banks yields interests, whilst still keeping the value intact for the depositor’s future use. Interest paid by banks are sourced from interests collected from borrowers; making it important for banks to make sure that money, is loaned out to entities vetted as capable of paying back the funds borrowed plus interests.

Such scenarios in an economic territory, if occuring with very little or no setbacks at all, can guarantee economic stability and growth. Unfortunately, there are certain factors such as natural calamities, disasters, civil unrests, poor political policies, monopolies, fraud, innovations, and global conflicts that affect activities and operations of those who participate in money circulation.

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