Market News & Events

22 November 2016

The New Overtime Pay Rule Explained Simply

Posted in Market News & Events

Money reVerse Overtime Pay Explained Simply

Overtime pay is defined by the US Department of Labor (DOL) as being one and one-half times the current regular hourly pay for an employee.

Effective December 1, 2016 there are new rules for how eligibility for overtime pay is determined for US employees as announced in May 2016 by the US DOL.

Before explaining what the changes are, let me create a scenario that will help to bring the effects of the ruling to life.

Meet Jake...

Meet Jake, a husband and father. Jake is employed by XYZ LLC as a carpenter and furniture delivery supervisor. Jake often works 50 hours a week to complete his required building and supervisory duties. Because Jake is considered a part of the management team, he is not eligible for overtime per XYZ HR guidelines. Jake’s salary is $32,100 annually. No matter how many hours Jake works, his company is not obligated to extend overtime pay to him.

Until December 1, 2016 the annual earnings threshold for the overtime pay mandate is $23,660. What this means is that anyone that earns below $23,660 annually is required to be compensated with overtime pay regardless of their positon or title. Earning above this threshold takes an individual out of the mandated overtime pay as noted by the Department of Labor. It is also common for employees that are in managerial, administrative or professional roles to also be exempt or ineligible for overtime pay. Some employers have policies to also extend overtime pay to employees in these groups even though it is not mandated by the DOL.

The New Overtime Pay Rules

The new Department of Labor overtime pay rules will raise the overtime annual salary eligibility from $23,660 to $47,476. Under this new ruling that goes in effect December 1, 2016 Jake will be eligible for overtime pay (one plus one-half times regular pay) for any hours over 40 in one week. Jake becomes eligible for overtime since his annual salary is below the new $47,476 threshold. Jake and others like him will see additional money in their paycheck if they work beyond 40 hours in a single work week going forward.

There are employers that are increasing the salary base for some employees to exceed the $47,476 annual base so that the overtime pay exemption remains. Not a bad thing for employees that meet this criteria! In multiple ways, this ruling creates a potential for an increase to the household income for many US workers.

Three key points of the new Department of Labor Overtime Pay rules:

- Employees earning less than $47,476/year are eligible for overtime pay for work contributed beyond 40 hours in a single workweek. Overtime pay is equal to one and one-half times the current regular pay. The earnings threshold for this eligibility before this 2016 ruling is $23,660/year.

- The effective date for this change is December 1, 2016.

- The earnings threshold for overtime pay eligibility will increase automatically every three years. The next increase is planned for the year 2020.

Overtime Pay Oppositions

There have been oppositions raised to this overtime pay rule change by 21 of our 50 states. These states are suing the Obama administration for overstepping their bounds by imposing fiscal mandates at the state level that could affect their budgets. Those states are Alabama, Arizona, Arkansas, Georgia, Indiana Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Mississippi, Nebraska, Nevada, New Mexico, Ohio, Oklahoma, South Carolina, Texas, Utah and Wisconsin. I’m watching these activities and will report to you what comes of these efforts. I will also share more of my personal thouhts and views on this subject.

If you or someone that you know fits the profile of one that may be eligible for overtime pay as a result of this ruling, instruct them to seek information on this new DOL ruling and get information from their employer as needed. Direct any questions that you may have on the details of the ruling to me here as comments to this post. I'm here to assist!

Stay in the know!!

17 November 2016

Post Election Stock Market Focus - Expect Market Volatility!

Posted in Market News & Events

Money reVerse Post Election Market Focus

When our financial markets go through periods of times when the trading prices of stocks are going up and down unpredictably, it is certain that a large number of individuals and institutions are buying and selling stocks in large volumes. If this goes on for many days (as it often does) we see the result of this high volume trading in the “up & down” prices of individual stocks and the overall financial market.

Volatility is defined as being likely to change in a very sudden or extreme way. Volatile markets are likely to have sharper up and down swings than what is considered normal.

I personally look at the closing numbers of the Dow, S&P and the NASDAQ to detect the effect of market swings. I consider a DOW closing price of at least 300 points higher or lower than the previous day as a pretty volatile day. Anything less than a 100 point DOW closing (higher or lower) for me is considered a calm or sideways market day. The market volatility is measured and reported by the CBOE Volatility Index or the VIX.

There are many theories and technical details associated with market volatility including beta, sigma and standard deviation. For our conversation here, these concepts are not important. What is important to know is that there is a single cause for volatility. That reason is uncertainty.

Money reVerse Volatility Coaster As we do after each presidential election, expect this. Don’t be alarmed or think that we’re in for an immediate financial apocalypse. The uncertainty that results from political party changes in the office of the US president always introduces a fair measure of market volatility. It is important to be aware of what’s going on and manage your investments in a way that minimizes your losses and harmonizes with your risk tolerance. Again, prepare for market volatility and be prepared to make the adjustments that you need to be able to rest well during times of high volatility.

Again, the sharp market swings are caused by investor uncertainty. Market volatility rarely means that things are in an unstoppable upward trend or that the stock market is crashing. Keep your head, be aware of what’s going on and work your plan!

If you don't have a plan for investing during volatile times put this on your "to-do" list. If you are needing to expand your knowledge in understanding and navigating the financial markets it is time to consider taking a class and/or hiring a financial professional for assistance. Because the Money reVerse vision is for financial self-empowerment you can find stock market investing as a part of Money reVerse University. Sign up for the Money reVerse 21 Days to Stock Market Investing course today!

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23 October 2016

Stock Market Focus: After the Election Watch These 4 Key Things!

Posted in Market News & Events

What is the market going to do after the election?

This is the question of which everyone wants the answer and the answer is nowhere to be found. As we know with all things in our financial markets, there are many opinions but of course when we’re talking about future events, all opinions are speculative at best.

From what I’ve read of the presidential candidates, there are four key areas of our financial markets that will be affected as a result of our upcoming election. They are international business relations, health care, taxes and consumer discretionary (optional) spending. Here’s a few points to consider on these four areas.

With a republican presidential win, we should keep our eyes on the implementation of international agenda items from Trump. If he honors his promises to reform international trade by withdrawing from the newly signed Trans-Pacific Partnership, renegotiating NAFTA (North American Free Trade Agreement) and other seemingly impactful measures, this is likely to cause a negative impact to our international trade relationships. In this case it will be noticed mainy by large cap US companies since they are more likely than mid and small cap companies to have multi-national operations.

Based on campaign promises from both Hillary Clinton and Donald Trump, there will be adjustments of some kind to the Affordable Care Act. As with the 2010 implementation of this health care reform, many health care business including insurance providers, pharmaceutical and medical device companies will be impacted by any changes that are made to this health care law. The implementation of this act caused an increase in the healthcare market sector. The nature of the next reform changes will dictate the overall effect of the stocks that comprise this market sector.


Both candidates are communicating somewhat vague plans about what they are proposing to do about taxes. One thing for sure is that tax reform is one of the subjects on the table as it is for every presidential election. If the wealthy are taxed more, consumer spending could decrease. In opposition to this, a tax cut could increase consumer spending. In a related conversation, higher minimum wages could eat into the profits of restaurants and retailers whose workforce is likely to be made-up of workers at this earning level.

Spending for indulgence and non-essential extras will be impacted if there is less money brought into the household or if there are price increases on necessities. This is the reason to be aware of potential tax and interest rate changes that come as a new US president takes office.

Again, no one truly knows how our financial markets will react to our 2016 presidential election. Watching the key areas discussed here will keep you on your toes and having a better understanding of post-election changes that we see in our US financial markets.

Stay tuned!

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17 October 2016

Pre-Election Stock Market Focus #4: What the market is doing in 2016 (thus far!)

Posted in Market News & Events

In continuing to examine our pre-election focus on our financial markets, let’s take a look at where our key stock market indices are today and look back at how they measured at the first of this election year. We’ll also make note of the all-time highs for each of the major indices – The Dow, S&P and the NASDAQ. This chart does just that!

This chart shows the following pair of interesting facts:

1. The Dow, S&P and NASDAQ are all trading higher today than they did at the beginning of the year.

2. The Dow, S&P and NASDAQ set new all-time highs in 2016. These new highs have been in the record books for just over 60 days.

With all-time high records being set on all three indices, there is a high likelihood that there will be a market pullback in the future. All-time highs often result with a pullback and a market ""running start" before the next all-time high mark is hit. We are seeing that now as there has been a decrease in the index values since the Summer 2016 high values.

We’re still doing a pre-election focus on our financial markets. Stay tuned for more!


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09 October 2016

3 Pre-Election "To-Do's" that all Christians Should Know About

Posted in Market News & Events

As we focus on the pre-election conditions of our financial markets, note that this is just an exercise of education and awareness. I want to emphasize that for those that believe in the almighty God and His son Jesus, there is no worry, fear or concern for what will come as a result of the presidential election. This is because we know what biblical truths tell us when it comes to people of leadership and God’s sovereignty when it comes to the state of His nations.

His word says that He is with us always and I rest in that truth. He also gives us instructions to follow when it comes to the leadership and authority over us. Using those instructions, this pre-election (and post-election) to-do list is one that all Christians should adopt.

1. Pray for those in authority.

Pray Election

Therefore, I exhort first of all that supplications, prayers, intercessions, and giving of thanks be made for all men, for kings and all who are in authority, that we may lead a quiet and peaceable life in all godliness and reverence.

1 Timothy 2:1-2 NKJV

Election time is a great opportunity for us to practice what he has commanded us to do by praying for those in authority. God responds to our requests when we ask with a sincere heart. No matter who wins the election, as Christians we have a responsibility to pray for them. We will pray and ask God to give them counsel, guidance and instructions as needed to lead the nation over which they are appointed. I believe in my heart that if we sincerely pray this, our leaders will hear from God. That does not mean that they will follow the instruction (honestly, I’m also guilty of this failing) but no matter how it happens, I believe that His will be done on earth as it is in heaven.
Pray for those in authority.

2. Come under the authority that is governing you.

Let every soul be subject to the governing authorities. For there is no authority except from God, and the authorities that exist are appointed by God.

Romans 13:1 NKJV

This one was once very hard for me. I remember my mid 20’s, at work being less than the desirable employee for a boss that was… hmmmm… I’ll say less than competent in their current assigned position. (That’s much better than I said it then!) After being somewhat of a pain to my boss with my verbal and written corrections to what I deemed as mistakes and oversights, the Holy Spirit directed me to the bible book of Romans chapter 13. After reading the entire chapter, I was in tears as I realized that I was doing just the opposite of His word instructs us to do. Took me a bit to swallow my pride and “be subject” to the authority but I did immediately stop pointing out corrections and worked to get on God’s program for being an employee that represents my faith. I eventually became the biggest supporter for my boss for the remaining time that we worked together.

These days I often see a blatant disrespect for our national leaders. I see this in the national media as well as from individuals in social media. I must say is disheartening. Even if the leader is operating in a way that does not command respect, as Christians we should continue pray for them. Because God is the judge and He puts one down and exalts another, I trust that the leader will be removed in due time if their undesirable behavior continues. Resist the urge to join the campaign of disrespect. Follow His instruction and come under the authority of those that are governing you.

3. Know that our country is blessed!

US Flag election

Blessed is the nation whose God is the Lord,
The people He has chosen as His own inheritance.

Psalms 33:12 NKJV

As long as we continue to follow Christian practices of faith, our nation will continue to be blessed. No presidential or congressional political affiliation can change that. The election is important but it has little bearing on what the Lord has in store for you and your family. My God’s promises are true – even if there is a president in office that speaks differently. Know this and believe this. Our country is blessed – even if the financial markets don’t look favorable. Avoid the political rhetoric that is certain to become more apparent and more distracting.
Make sure that you do fall in line with these 3 must-do steps:
1) Pray
2) Vote
3) Pray

Stay tuned here with Money reVerse. I’m believing that we all will prosper financially in unexpected times. God has chosen the foolish things of the world to put shame to the wise. I’m down with that! I’m believing that each of us will be able to prosper financially in the markets in unexpected ways.

There’s more pre-election market watch coming. Just needed to ensure that our mental and spiritual positioning on this topic is stabilized.

Until next time!


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09 October 2016

Pre-Election Stock Market Watch - Series Introduction

Posted in Market News & Events

Expand Your Stock Market Knowledge before the election!

Every 4 years there’s much talk and media focus given to predictions on how our US stock market will react after the Presidential Election. Past history shows increased market activity in the election years for sure. Exactly what the market will do after our upcoming election is unknown. Predictions, while plentiful, are truly speculative.

For the next 6 weeks I will focus on sharing information to help us to become more knowledgeable about our US financial markets today. With this information we will be better able to understand the market contrasts that are likely to come as a result of our 2016 Presidential election on Tuesday November 8th.

Ready to get started? Let’s start with a replay of a past stock market question & answer session. In this session I shared a lot of general stock market basic information and answered every question that was asked of me. Those questions that I could not answer in person were posted online in both written and audio form. If you’d prefer to read with your ears, you can do so by clicking the link just below the headphone icon. If after reading these questions you still have more questions of your own, don’t hesitate to add them in the comments section on the blog post. I promise to address every question!

Read the Stock Market Primer Q&A Here


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02 October 2016

Election Year Stock Market Watch: What Happened in the Past Elections?

Posted in Market News & Events

Historically, the performance of our US stock markets has been watched, measured, feared and cheered every election year. While the past may be interesting and helpful in understanding the whole picture of our historical election year returns, it can’t be viewed as the way that things will go tomorrow. Make no mistake, the election year market returns history is definitely a great place to start in watching the markets during this election cycle!

In November of every election year, three major leadership decisions are being made by American voters. We decide on our US President, Vice President and the US Senate. History shows us that as there are shifts in the political party among the President/Vice President team we see downward trends in the gains of the S&P 500 Market Index. Taking the last 5 elections into account, the following chart shows a 20-year post-election market performance trend.

Election year S&P Returns

This chart shows that when the incumbent president party won the election there was an upswing in the S&P 500 for the year. There was an S&P 500 loss for the year if the incumbent presidential party did not prevail. If this trend carries over to the 2016 election, we will see a 2016 market upswing with a Clinton victory and a market downswing with a Trump presidential win.

Why is the S&P 500 used as a market benchmark?

The Standard and Poor’s 500 is a market index of 500 of the largest publicly traded US companies. These companies represent all market sectors. The 10 major market sectors are Basic Materials, Consumer Discretionary, Financials, Consumer Staples, Healthcare, Utilities, Telecom, Energy, Industrials and Technology. Every stock traded in the US falls within one of these sectors and the S&P 500 is comprised of a good mix of all of these areas. Although there are arguments against this theory, many analysts feel that the S&P 500 is a good benchmark of the overall health of our US financial markets.

Again, past performance is not necessarily a glimpse into tomorrow’s reality. As we focus on stock market performance in an election year, looking at what happened in the past election years is a crucial step in establishing a baseline as we get closer to our 2016 presidential election.

Stay tuned. There’s more to come!


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26 June 2016

Brexit - The Simple Explanation

Posted in Market News & Events

World economic markets were very volatile on Friday June 24, 2016. Our US markets marked losses on all fronts – Dow was down 610 points (3.39%), NASDAQ was down 202 points (4.12%) and the S&P was down 76 points (3.59%). This negative volatility was a part of the global response to a June 23, 2016 vote by and for the United Kingdom to leave the European Union. This is also known as the Brexit (British Exit) referendum.

EU FlagThe referendum or public vote was open to the people of the UK and the question posed to them was “Should the United Kingdom remain a member of the European Union or leave the European Union?” Think of this as residents of any of our 50 states being asked should we stay or should we leave the United States. In simple terms, that was the question.

The result was 51.9% of voters opted to leave the European Union and 48.1% opposing the change. The UK, also known as Britain is leaving the 28 state European Union.

Three notable changes that will take place as a result of the Britain leaving the European Union:

- Britain will no longer be a state in the union. All dealings with the remaining EU states will be with foreign partners. Many European trade agreements will have to be renegotiated and modified.

- Travel between Britain and other states within the European Union will not be as open as they have been before. Again, Britain and neighboring countries are no longer a part of the same union. No more changing residences among the European states and Britain without additional regulatory steps being required.

- These items and the many others that will take place will increase the overall cost of doing business in Europe both nationally and internationally.

A key reason that this referendum was on the table for voting was that the people of Britain had a general dissatisfaction with the EuropeanBritain Flag Union. They felt that breaking away from the union was the only way to protect and restore the country’s identity, independence, culture and pride. From my readings I’m interpreting that the people of Britain felt that receiving immigrants from other cultures in large numbers contributed to their feelings of losing their identity.

British citizens that opposed the EU exit stated that there would be substantial economic consequences associated with leaving the union and noted that the financial impact of the exit does not justify taking such an action.

The vote for Britain to exit the European Union was passed on Thursday June 23, 2016 and as predicted, there was a notable downturn in the US, European and Asian financial markets on Friday June 24, 2016.

The Brexit vote marks the beginning of a new stage production on this topic. Since the vote we’ve seen celebrations, resignations, negotiations and immigrations. Unfortunately, there’s also been a murder of a political leader as a part of the madness. Much unrest on European soil as a result of this historic vote.

I’m praying for God’s will to be done on earth. I’m seeking the Lord for peace in the land and I’m praying that he will educate us with insight on the topic. I’m believing that he will show us how to prosper in these financial markets in ways like no one else. I’m giving Him the glory already on this!

Did this help to clear up any questions that you had on this topic? Let me know. I would love to hear from you!

21 April 2016

The new $5, $10 and $20 notes: Diversity embraced by our U.S. Treasury!

Posted in Market News & Events

Women on US paper money

U.S. Paper Money To Feature African Americans and Women

Details of the new designs for 3 of our U.S. currency bills were announced April 20, 2016 by Treasure Secretary Jack Lew. The strong message that was communicated to me from this announcement is that the new designs for the $5, $10 and $20 bills will now include prominent women and African Americans.

Never before have faces of African Americans been featured on U.S. paper currency. The signatures of four African American men and one African American woman appeared on U.S. paper money when these individuals served as Registers of the Treasure and as the Treasurer respectively.

First Lady Martha Washington is the only woman that has appeared on a U.S. currency note to date. Her portrait appeared on paper money in the 1800’s. She was featured on the front of the $1 Silver Certificate of 1886 and 1891 as well as being featured on the back of the $1 Silver Certificate of 1896.

The New $20

On the new $20 a portrait of Harriet Tubman will be featured on the front with President Andrew Jackson and the White House being featured on the back. Harriet Tubman, an anti-slavery activist and humanitarian will be the first African American to be honored by having a portrait on the front of any U.S. currency bill.

The New $10

The back of the new $10 will feature an image from the historic march for the Women’s Suffrage movement that began in the US in 1848. Lucretia Mott, Sojourner Truth, Susan B. Anthony, Elizabeth Cady Stanton and Alice Paul are leaders from that movement that will be honored by gracing the back of the new $10. A portrait of Alexander Hamilton, U.S. Founding Father will remain on the front of this bill.

The New $5

The new $5 will be updated on the reverse side to honor democracy leaders and historic events that took place at the Lincoln Memorial that helped to shape our history. We will see portraits of world-renowned opera singer Marian Anderson, First Lady Eleanor Roosevelt and Dr. Martin Luther King Jr on the back of the new $5 bills as they each are remembered for historic events at this monument.

The Treasury announced in June 2015 that the new $10 note would feature a woman. Secretary Lew started a public campaign to gather nominations and ideas from the public for this historic change in our currency designs. The resulting redesign of multiple bills to feature women on each updated design is a result of this input.

This change won't happen right away. The distribution of the newly designed $5, $10 and $20 notes is scheduled for the year 2020 in conjunction with the 100th anniversary of the 19th Amendment which granted women the right to vote.

Don’t worry about your current bills being worthless when these new ones appear. All U.S. notes that are put into circulation by the Federal Reserve will always be honored at face value.

A special Money reVerse thank you to U.S. Treasury Secretary Jack Lew and his team for taking the effort required to honor well deserving African Americans and women on our paper currency!

Do not withhold good from those to whom it is due, when it is in the power of your hand to do so.

Proverbs 3:27 NKJV

27 June 2015

Credit and Debit Cards with Chips Are On The Way! - Part 2

Posted in Market News & Events

Many Money reVerse readers have received a new debit or credit card that contains an embedded chip. 67% of respondents of my poll in early June 2015 noted that they had received a chip card already. I’m included in this group. By the fall of this year millions of Americans will be carrying these credit and debit cards that have the embedded chip technology.

The key reason for embedding chips in the bank cards is to improve the cardholder security.

Cards that do not have chip technology use a magnetic strip that is swiped when you make a purchase. The key thing about this method is that your credit card number (15 or 16 digits shown on the front of the card) is passed to the merchant and used to authorize / guarantee the payment between the bank and the merchant. Your credit card number is desired by those striving to commit credit card fraud. The 15 or 16 digit card number is key – literally. This number in the hands of the wrong person can be problematic for us as cardholders. These numbers, when stolen, are often used to fraudulently duplicate physical cards, make online purchases and possibly open other fraudulent accounts in your name thus making unsuspecting cardholders victims of identity theft.

Cards with embedded chips, when paired with updated card processing terminals in stores, will initiate processing that will result in a unique authorization code for each particular transaction being generated at the time of the transaction. The most important fact to note is that your credit card number will no longer be used for authorization and it will not be passed along to the merchant for this purpose. This lowers the exposure of your card number thus lowering the possibility of theft.

For this type of authorization to take place, the stores in which you shop will need to upgrade the credit card terminals that are at each Point of Sale station. When this is done, instead of swiping your card to pay for products and services, you will insert it into a machine slot like those at an ATM. You will then receive a confirmation from the machine that the card has been processed and it can be removed. One difference that we will need to note is that the card will need to be left still in the machine for a few seconds for the authorization to be completed unlike the quick swipe that we do today.

All chip cards are being shipped with the magnetic strips on the back like we have today. This allows the chip cards to be used in locations that do not have updated pay terminals. In the fall of 2015 we should start to see many merchants with updated equipment as we walk in armed with our new chip-embedded debit and credit cards. If you have an option to choose to use the chip or the swipe method, use the chip method every time for improved security.

With this processing change, we will need to continue to sign for payments based on the merchant’s guidelines. The added chips are not changing this requirement in this phase of the implementation.

Keep and eye on your mailbox and with your favorite stores to see these planned changes come to reality right before your eyes!

That's a lot to absorb. Got questions? Let me know by asking them by using the comments section here!


30 May 2015

Credit and Debit Cards with Chips Are On The Way!

Posted in Market News & Events

Throughout 2015 card issuers and merchants are adopting the more secure chip technology for credit and debit cards. This means that many of us will receive new cards with this technology embedded from our banks.

Credit card with chip

Cards with chip technology are easily identified by a small gold rectangular raised emblem that appears on the front left side of the card. This chip is located just above the first four numbers of the card.

These cards, when paired with updated terminals in stores can be used to make purchases more securely as the embedded chip generates a unique code for each payment authorization instead of using the number on the card.

Because of the added technology associated with these cards, they are more difficult to duplicate. Those that choose to fraudulently duplicate cards for profit tend to target the older magnetic strip cards for their card theft activities. Using chip cards in countries outside the US has resulted in lowering the number of fraudulent transactions and stolen cards.

Stay tuned to Money reVerse for more about chip cards and new security regulations that will be in effect in October 2015.

Until then, please take about 10 seconds and respond to a Money reVerse Chip Card poll.

Money reVerse Chip Card Poll


Have you received a new credit or debit card from your bank that has a chip?

Answer Choices:

-Yes, I have received a chip card.

-No, I have not received a chip card.

-I do not carry a debit or credit card.

Click here to provide your answer and see how you compare to other Money reVerse readers!

Thank you for your participation!

Carolyn Signature1


01 October 2013

The 2013 Partial Government Shutdown - Got Questions? Here's some answers!

Posted in Market News & Events

Dollar Close Up

According to historical records, the 2013 partial government shutdown is not a first. We've been here before. Our current situation - because the spending approvals are not in place, it is a federal crime to spend government funds as of October 1, 2013, the first day of the US federal government fiscal year.

20 January 2013

Remembering Dr. Martin Luther King, Jr

Posted in Market News & Events

Remembering and Honoring
Dr. Martin Luther King, Jr.

07 January 2013

Fiscal Cliff: Simple Explanation of Bush Tax Cuts

Posted in Market News & Events

Click here to listen to this podcast

In continuing the United States Fiscal Cliff simple explanations, the question on the floor is "What are the specific items that could effect our personal budgets in January 2013 if no tax relief extension measures are taken?" One of those items is the Bush Tax Cuts.

30 December 2012

Fiscal Cliff: Simple Explanations

Posted in Market News & Events

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Turn on any TV news or radio station, visit any news web site or look what's trending on twitter and you will be greeted with conversations about the Fiscal Cliff. There are talks, interviews, speculation and arguments over the pending Fiscal Cliff issue.

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