Economic Podcast

Hi, This is my review of a podcast by Ivona and Corina. This podcast was very informal , educational and entertaining. The podcast was in the form of a conversation style. Corina was informing Ivona about The Fed System by answering her various questions. I learned about the first and obvious question which was what the fed system. During the podcast Ivona added her own information from what she knew. It was pretty funny and productive at the same time. They made it so it wasn't very complex and that anyone could can understand it. Aside from that they only provided the basic information and didn't get into the details of the The Fed System and how it works. It was more like a introduction but it's fine because the podcast wasn't suppose to be long. I can't wait for the next one.
-ron-

Compound Interest and the Rule of 72

Compound Interest is the calculation of how much many you gain in a certain amount of years depending on the percentile interest. You can only gain per year after you set the money aside for saving. Therefore, in order to define accurately the amount to be paid under a legal contract with interest, the frequency of compounding and the interest rate must be specified. Different conventions may be used from country to country, but in finance and economics there must be some type of rate. The Rule of 72 is basically an equation where each individual can determine the exact amount money and how long it will take you to double your current amount or the amount that you're looking for...your choice
-ron-

Insider Trading Scandal

13 people within the stock market were charged with fraud for insider trading. When the ABS security got caught giving out exlcusive and classified information. When people found this out 2 brokers from the Assent LLC tried blackmailing the people who were in the situation. 4 people were found guilty. Thats sucks!!!
-ron-

Types of Economic Systems

The difference between communism and socialism is if the government operates and controls all production in a nation this is communism. Socialism is different because the government in a nation can operate federal businesses but individuals can own a businesses .

Traditional Economic System- A traditional economic system is one in which people's economic roles are the same as those of their parents and grandparents.

Market Economic System- A market economic system is one in which a nation's economic decisions are the result of individual decisions by buyers and sellers in the marketplace.

Command Economic System- In a command economic system, the main decision maker is the government. No person may independently decide to open and run any kind of business.

-ron-

Why did the Stock Market nearly crash

Yesterday everything on the stock market began to decline in money. It was due to the chinese stock market. The stock market in china dropped 9 percent in one day. When the U.S. saw this they began to panic. The Dow Jones stocks got hit the hardest in resulted in them dropping 3% in a single day. The NY stock market lost so much because they invest in alot of the chinese stock markets so if any of them lose out of money so do we! That sucks.
-ron-