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Archive for the ‘Finance’ Category

Consumers are set for a miserable startto the New Year as they’re hit with a triple whammy, with Value Added Tax (VAT) increasing, as well as the price of public transport and petrol. It’s predicted that shoppers will hit the January sales to counteract the effect of the soaring cost of consumer goods. However, if you simply can’t bear to hit the crowded high street in search of a bargain you don’t have to with Now its Cheaper.

At Now its Cheaper you can find a whole host of ways in which you can take advantage of the latest offers. These include listings of the latest too good to be true bargains and special offers, a whole host of voucher codes, freebies, how to save money on your utilities and insurance policies as well as money saving hints and tips.

In addition to this you can also find out how you can easily make a bit of extra pocket money on the side, as well as take advantage of the hottest competitions and give aways. In making sure you browse Now its Cheaper regularly, you can make your hard earned money go that bit further, and offset the ever increasing price of living.

Now its Cheaper even has a service where you can submit an item that you’re looking for, and the sites host, money saving expert Oliver Neely goes away and trawls the net for you looking for the cheapest place or site from which you can purchase your item.

Most recently Now its Cheaper has found competitive prices on Zhu Zhu Hamsters, one of the most popular children’s toy’s of 2011. It has also uncovered the hottest prices on the Slanket, a cosy blanket with arm holes, best for keeping the cold out on long, winter nights. Finally, he has unearthed some jaw dropping prices for Xbox 360 games, meaning that you can still afford to be entertained throughout 2011, despite the gloomy economy.

Visit the Now It’s Cheaper website: http://www.nowitscheaper.com/

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There is no doubt that we are in a deflationary period. With unemployment numbers well over 168,000 for this year alone, individuals are finding themselves scrounging for money. It seems like everyone has their eye on the stock market in hopes that if it starts to climb it may be a sign that we’re moving past this deflationary period. As much as we would love to move out of this less best period what’s going to follow is far worse. It is pretty factual to state that what’s coming after this deflationary period is unprecedented inflation. I do not make this comment out of thin air I make this out of immutable fact. If anyone were to take a close look at the banking crisis, they would come up with the same conclusion.

Since September 2008 the printing press has been turned on 24/7 churning out as much money as it can possibly spit out. With the $1.75 trillion mortgage crisis starting off everything it has now snow balled into atrocious levels. Since the mortgage crisis has unfolded we’ve seen countless multi-billion dollar corporations filing for bankruptcy or even worse seeking bailout packages. We have seen a $787 billion stimulus package pass among many other attempts to salvage the falling pieces of the American economy.

Where does that leave us today? With our entire banking system on the verge of complete financial meltdown, that is where. At the beginning of 2009 the FDIC insurance fund had over $52 billion in assets. By the end of March this year they were shown to have $13 billion left. Over 60 banks have declared bankruptcy across the nation since March bringing the overall number this year to 81 bank failures. Included in this number are two of the largest bank failures in U.S. history which are Colonial and Guaranty. On August 4, 2009 Colonial Bank filed for bankruptcy with over $20 billion in assets making them the 6th largest bank failure in U.S history. The following Friday Guaranty Financial followed suite and closed their doors with over $13 billion in assets making them the 10th largest bank failure in U.S. history. The failure of Colonial and Guaranty has abducted over half of the $13 trillion remaining with FDIC and come end of August we could see the entire fund dry up, or even worse FDIC declaring bankruptcy.

Currently Citigroup is being audited by Neil Barofsky the inspector general for TARP and could face a similar situation as Colonial and Guaranty if they do not get their books straight. In addition to the audit on Citigroup over 35 ongoing criminal and civil investigations of suspected account, securities and mortgage fraud is taking place for various banks across the nation. I think it is safe to state that we may see the current number of bank failures escalade by the end of the year. With the fiscal year end for the government coming up in September the economy is really going tobegin feeling the strain of everything.

Where is all of this leading us to? Long term recovery for the U.S. economy and more importantly Massiveinflation. For 2009 the deficit will total over $1.8 trillion, about 4 times the record set last year. The last largest deficit was 6% of GDP and we’re currently at 13% of GDP for 2009. They have done a great job of deterring inflation but we all know it will have to surface sometime. There is no possible way they could be pumping as much money as they’ve into the system and not have repercussions. As Neil Barofsky has said the government bailout programs are not a black hole and everything has its breaking point. Ronald Fricke president of Regal Assets said last week that globally countries are steering away from the U.S. dollar and this is forcing the Federal Reserve to produce the needed money for bailouts which will ultimately lead to inflation.

The time is nearing where all Americans will have to startpaying for the financial catastrophe taking place in the form of inflation. We all need tobegin thinking like David Einhorn and John Paulson two of the most successful hedge fund managers in the nation. Like China they have been pouring their assets into commodities more importantly gold. If you’re aBigger institution or a house hold investor you owe to yourself tobegin hedging against the inevitable.

One of the largest stresses on the United States economy at this point is the financial stability of our banking system. Stress tests of all US banks were completedrecently. Since the outcome of those tests were revealed dozens of banks have gone into bankruptcy across the US.

At last count there were over 60 banks that have made a bankruptcy filing just in recent months. This has cost the FDIC over $12 billion. The troubled asset relief program is going broke and is predicted to betotally out of funds by fall 2009. This is just the beginning and unfortunately things will get worse before they get better.