Welcome to the Curious Cat Investing and Economics Carnival: we highlight recent personal finance, investing and economics blog posts we found interesting.
- 5 Financial Milestones to Aim for By Age 30 – 1. Contribute to a Roth and a Traditional IRA… 2. Build Six Months Worth of Expenses in your Emergency Fund… 3. Make the Credit Card Companies Hate You…
- USA again the leading manufacturing country, data of the Largest Manufacturing Countries in 2008 by John Hunter – The USA’s share of the manufacturing output, of the countries that manufactured over $185 billion in 2008, 28% in 1990, 28% in 1995, 32% in 2000, 28% in 2005… 24% in 2008. China’s share has grown from 4% in 1990… 10% in 2000… to 18% in 2008.
- Afraid to stay in but scared to get out? Join the club by James Jubak – “If you have to keep $60,000 in cash so that you can sleep at night knowing that you’ve got your financial bases cover, then the loss of a potential gain on that money is, in my book, worth it. I’ve sold into this rally to sock away my kids’ tuition for 2010 and my 2010 tax payment.”
- Invented, Completely New Meaning of the “Invisible Hand” by Gavin Kennedy – “In fact, Stigler explicitly criticises ‘legends’ of the ‘naïve doctrine’ that Smith should be associated with notions that ‘whenever a person seeks to serve his own ends, he invariably serves the ends of society’.”
- The Quiet Danger of Non-Inflation-Adjusted Stock Returns by Stephen Dubner – “the ‘real-real’ value of stocks does make you appreciate how so many people got so jazzed about the spike in housing prices over the last decade: it’’ exciting to see inflation working in your favor day after day…”
- Think You Don’t Need Health Insurance? Think Again – “Very bad medical problems can and do happen to many of us – maybe even you. Those very bad medical problems can be very expensive and potentially ruin one’s financial future if they do not have adequate health insurance.”
- Don’t Be Suckered By Stock Market Rally In 2010 – “For those who do not want to invest, it is best to save up your money and wait for better opportunities since valuations are high right now… I suggest fixed deposits as the best option to preserve your principal.”
- Resolving U.S. Indebtedness: Various Scenarios by Arnold Kling – “Some major technologies, probably either wet or dry nanotech, produce so much economic growth that the ratio of debt to GDP stays under control. I give this a 20 percent chance… Inflate away the debt with moderate inflation… I gives this a 15 percent chance….”
Related: Curious Cat Investing and Economics Custom Search Engine – Curious Cat Investing and Economics Carnival #2
I have discussed the advantage of using credit unions over trying to cope with a bank since so many banks constantly try to trick customers into paying huge fees. Here are some resources to help:
- Find a local credit union (site broke link so I removed the link) – with an overview of services offered
- Find a local credit union from (NCAU) with links to Financial Performance Report data.
- Credit Unions have National Credit Union Share Insurance Fund (NCUSIF) (“backed by the full faith and credit of the U.S. Government”) instead of FDIC. The limits on the share insurance are the same as the limits on FDIC, currently $250,000 per individual account holder. Use the link to make sure your credit union provides NCUSIF coverage.
You can also get credit cards through your credit union. In general credit unions are much more interested in trying to provide the customer value instead of trying to stick them with huge fees. But don’t just trust your credit union, check out the rates and fees they charge and comparison shop for the best credit card.
Related: posts on banking – FDIC Study of Bank Overdraft Fees – Credit Unions Slowly Fill Payday Lenders Void