The United States was forged from steel effort, sweat labor and economic achievement of American workers.
In 19th century America the industrial revolution was in full bloom with people lined up to feed the machines of mass production. Millions responded in search of the American dream, a newly founded trust in the commonwealth known as the free market. The idea of celebrating the everyday-working-man began to spread with the growth of labor organizations. By 1885 Labor Day was celebrated in many industrial centers of the country. This holiday is to exhibit to the public “the strength and esprit de corps of the trade and labor organizations” of the community.
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Calm Down, the Poor Are Not Paying for the Rewards of the Rich
28 Aug
Posted by William Torres as Credit Cards
At issue: The Boston Federal Reserve is making policy recommendations based on a statistical model showing that the “poor” subsidize credit card rewards for the “rich”. While there’s nothing wrong with writing such papers as an academic exercise, you have to be a lot more careful about your assumptions when writing political papers that are meant to influence popular opinion and public officials.
The initial “WTF”: Back-of-the-envelope math doesn’t really work out. The authors assume a 0.75% reward rate on average (p. 15), so in order
As the world’s largest bond manager, what PIMCO does is closely watched. So, when they reduced their holdings of U.S. government debt, people took notice. And when they increased their holdings of emerging market debt, that really got some attention.
The waning appetite for for U.S. Treasuries because of unusually low interest rates is a story to watch closely for two reasons. Matthew McCall for Index Universe explains that first, it will lead to higher interest rates in the U.S. to simply attract money back into Treasurys. Secondly, bonds issued by other countries, particular those in emerging markets that offer higher yields, will be in higher demand. [
Pottery Barn Credit Card Reviews – Best Option or Not?
26 Aug
Posted by Dustin Ramirez as Credit Cards
Q: When checking out today at their store I was asked if I wanted to fill out a Pottery Barn credit card application. I don’t like feeling pressured, so I took the pamphlet home with me. It looks like it has good rewards! Would you recommend this credit card?
A: Pottery Barn is an excellent store to pick up home furnishings. W
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