There is a serious stigma that comes along with filing for bankruptcy. The word itself has such a negative connotation to most people. If you’ve filed for bankruptcy you look like an irresponsible consumer who could not even spend the time to figure out an appropriate budget.
While it is true, there are people who simply overspend and then ask themselves ‘how did I get myself into a bad financial situation‘, there are others who simply can’t pay their bills anymore because of reasons they didn’t have any control over. For example, if there is a serious illness in the family, if a spouse passes away, there is a divorce, disability, etc.
Most people are too embarrassed to ask for help or to let people know what their situation is really like. Having said that, here are six myths about bankruptcy- be prepared to be a little surprised!
Bankruptcy declaration is no easy decision but it was put in place to help people, who are in dire straights, find a new life and wipe the slate clean.
The reality is, the corner shop or the local bakery plays a very important role in our economy. Taking a bigger view of small business, even the 30-man team of tech guys, working from a small underground shop have an influence on how well our economy is doing. There are special small business government grants to help fledgling businesses. A small business is defined as an enterprise that has fewer than 500 employees. I deem this as an ‘SMB’ or a small-to-medium sized business. For the purpose of this post, I’ll talk about statistics surrounding them
There are approximately 28 million small businesses in the United States alone. 22 million of them are self-employed. This means that there are no additional payroll or employees on the team. What’s more incredible is that over 50% of population (120 million people) are employed by a small business. That’s a high number considering the unemployment rate.
Over half a million businesses get started every month, 65% of new jobs are created by these new businesses. It should be noted that while there are more that start, small businesses also have the highest number of shutdowns/layoffs per month too. It’s all relative. But what’s important is the cycle and the opportunity SMB’s are creating for an American citizen. 70% of new companies stay in business more than two years, only a quarter of those reach the 15 year mark. Starting a business is hard work, and the failure rate is enough to discourage anyone.
That’s why we need to celebrate entrepreneurs. There is a huge risk being taken when one starts a business. There’s a vision and its really all down to execution. Not everyone can execute perfectly all the time. Each of the 22million non-employer businesses in the US are making greater than $1000 per month. That’s a lot of cash moving around the economy too! Check out The Government Grants Guide to see if your business is eligible for any government assistance.
These are just a few stats that I wanted to share about the impact small businesses are making, for more information you can check out this awesome infographic: http://www.businessinsider.com/infographic-the-state-of-us-small-businesses-2013-9
The word cryptography may not ring a bell with a person who has only rudimentary knowledge of Information Technology. But unknowingly, he/she enjoys the advantages that it provides every day. Cryptography is akin to the Holy Grail, for those who deal in the enterprise of protecting information using Information Technology. Initially, it was only employed by the military to decode enemy messages, but today is being used in things more mundane, such as email. Cryptography deals with all aspects of secure messaging, authentication, electronic money, digital signatures, and other applications.
A major benefit of cryptography is that it serves as a method for employing digital signatures. Digital signatures enable the recipient of information in order to check the authenticity of the information’s origin, and alsoverify that the information is intact. Thus, digital signatures provide authentication and data integrity. A digital signature also provides non-repudiation. This means that it prevents the sender fromclaiming that he or she didn’t actually send the information. These features are every bit as fundamental to cryptography as privacy, if not more.
A digital signature serves the same function as a handwritten signature. However, a handwritten signature is easy to counterfeit. A digital signature is superior to a handwritten signature in that it is almost impossible to counterfeit, plus it attests to the form of the information as well with respect to the identity of the signer. Some people tend to use signatures more than they use encryption. For example, you may not care if anyone knows that you just deposited $1000 in your account, but you do wish to be darn sure it was the bank teller you were dealing with.
Were you aware of those issues?
It protects a message or file from being read by an eavesdropper, who has no other means of access to either the original wording of what is protected, or the key with which it is encrypted. When a message is transmitted to someone, it is converted into undecipherable code, so that no person other than the intended reader would know what is written. Once the message reaches the intended recipient, he’ll require the program that decrypts it.
Julius Caesar was a captain of a primitive form of cryptography. When Caesar sent messages to his trusted acquaintances, he had to guarantee that the messengers wouldn’t read the message. So he replaced every A by a D, every B by a E, and continued through the alphabet. Only person who knew the ‘shift by 3′ rule could decipher his messages. Cryptography can be used in order to encrypt your entire hard disk. It grew extremely complex during World War II, when Germany exploited it to the hilt. They created Enigma machines that would use multiple rounds of alphanumeric random encryption to pass messages from one submarine to the other. For years the allied forces tried to crack the code using countless permutations and combinations; they were only successful when they were able to capture a submarine that had an Enigma machine on board.
Although partially related, stenography shouldn’t be confused with cryptography and it is important to understand that they’re two entirely separate things. While cryptography is the encryption (or obfuscation) of a message to assure that no one except the intended recipient can decipher it, there is still a message right there in plain-sight with cryptography (and in most instances you have that message at your fingertips to work with IF you want to try to successfully break the code).
Cryptography wasn’t always complicated. But the advent of a beast called the Internet destroyed all accepted conventions. The game changed drastically. Cryptography was rendered practically useless since there is no technology that is widely available today, that prevents the Internet Service Provider from seeing what websites the user visits. Routing thorough another server has been used. However, this isn’t a cryptography technique and by no means foolproof.
Cryptography also has a great deal of jargon which scares most first time readers. Demystifying the jargon is half the battle won for elementary cryptologists. The initial message that is sent is called plaintext. This is then encrypted and converted into something called ciphertext. Cryptanalysis is the art of breaking cryptosystems without knowing the decryption key. Cryptology is the survey of both cryptography and cryptanalysis. A cryptosystem is normally a whole collection of algorithms. The algorithms are labeled; the labels are called keys. In order to decode the message, it is essential that the proper key is known. When someone gets access to the message without knowing the key, he is called cryptanalyst. The benchmark of great cryptography is that it appears random when confronted with any kind of statistical testing. But even when statistics fail to unravel the mystery of cryptography, it may be that it could be caught out by an ingenious cryptoanalyst.
There are two types of key-based encryption algorithms: symmetric and asymmetric algorithms. The difference is that symmetric algorithms use the same key for encryption and decryption, whereas asymmetric algorithms use a different key for encryption and decryption. The decryption key cannot be derived from the encryption key. Symmetric algorithms can be classified into stream ciphers and block ciphers. Stream ciphers can encrypt a single bit of plaintext at a time, whereas block ciphers can encrypt a number of bits.
A cryptographic algorithm, or cipher, is a mathematical function employed in the encryption and decryption process. A cryptographic algorithm works in combinationwith a key —a word, number, or phrase—to encrypt the plaintext.The same plaintext encrypts to different ciphertext with different keys. The security of encrypted data is totally dependent on two things: the force of the cryptographic algorithm and the secret of the key.
A digital signature is a small number of data that was created using some secret key. There is a public key that can be used to ensure that the signature was really generated using the corresponding private key. Digital signatures are used to ensure that a message really came from the claimed sender.
When forced to make contact with someone you share the public key, for it implements asymmetric encryption secure key exchange using a public key and a private key. The public key is paid to the world and serves to encrypt data that third parties we will go. These data we receive will then be decrypted by our person using the private key and password we have linked to it. The private key is likewise used to verify that the data we have obtained are legitimate and haven’t been changed by the signature system.
Cryptography is here to stay; it will evolve to fulfill the ever-increasing security needs of computer users all over the world. The next frontier is the Internet. Algorithms have been developed to address the all-permeating influence of Internet Service Providers. However, they’re limited to the realm of hackers. Cryptography will ensure that it’s the norm of tomorrow.
Linux is a free and open source operating system that can be mounted on many different computer hardware platforms. Linux is widely used around the world. Here is a background on the Linux operating system.
Linux is an operating system that’s very similar to the UNIX operating system. Linux is free and open source. Its source code can be changed and redistributed. Linux is available on many different computer hardware platforms such as desktop computers, supercomputers, mainframes, and even mobile phones.
Taking advantage of the open source movement, however, can often be best achieved with an alternate operating system as well, not to speak that Linux, Unix, and BSD operating systems are themselves open source. While there are many options available for the Windows O/S platforms, many open source enthusiasts prefer to work in collaboration with a Linux desktop distribution, or ‘distro’. In the past, those just venturing into the world of Linux ― or Unix, or BSD―utilized a ‘dual boot’ setup so that they could keep their tried and true Microsoft operating system while being able to experiment with a new desktop environment.
In 1991, Linus Torvalds created the first version of Linux. He announced his product on an online newsgroup. Torvalds stated that it was no more than a hobby. Linux has grown by leaps and bounds since then.
Back to our discussion….
The Linux kernel is the component of the Linux operating system that bridges the software to the hardware. It is the communication layer between software applications and the computer’s resources.
A Linux distribution is an operating system that is built on the Linux kernel. It is a version of the Linux operating system that targets particular platforms for specific purposes. RedHat and CentOS are two popular Linux distributions.
Less than one percent of the desktop computers run the Linux operating system. But that shouldn’t be a referendum on the serviceability of Linux. Linux is more than capable, for most home users. Linux may be less popular than other operating systems because it requires some technical savvy to install and use. Nonetheless, you’ll find some mainstream distributions of Linux. Some Dell computers come preinstalled with the Ubuntu Linux distribution.
It is easy to try Linux. The Ubuntu Linux distribution offers three ways to try Linux on your home desktop computer, for example. You can download and install Ubuntu onto your desktop. If you don’t want to affect your current system, you can download Ubuntu onto a USB stick or CD and run it from there. This allows you to try out Ubuntu without installing it onto your computer. Finally, you can install Ubuntu as a Windows application. In other words, you can run Ubuntu from within Windows. You can install/uninstall it just like any Windows application. Ubuntu Linux is just one distribution. There are other Linux distributions that have similar installation options.
Linux is a free and open source operating system that is similar to UNIX. It is a powerful operating system that is available on a wide range of platforms. Linux takes a little time to learn but costs nothing to try. Give Linux a look and see what you’re missing.
Will there be anything called a foreign exchange marketin this world, If there’s only a currency in this world? Then what about foreign exchangeor foreign exchange rate? There will not be anything like that. But in reality, many countries have their own national currencies like Dollar, Pound, Euro, Ruble, Yuan, Rupee and many more. Then there should be somewhere to facilitate making payments and transferring funds between countries. Also someone should facilitate the transferring of purchasing power from one currency to the next and also to determine at what rate one currency must be surrendered, with a view to acquire another currency in making payments or in transferring funds. It is theforeign exchange marketthat plays the most important role of providing machinery for all these transactions between countries.
Every nation has its own national currency or monetary unit. It may be Dollar or Euro or Rupee or Peso or whatever.
Almost every country has its own national currency or in other words, its own monetary unit. It may be Dollar or Euro or Rupee or Peso or Lira or whatever, it is used for making payments and receiving payments within its own borderlines. But they all need foreign currencies for payments across these national borders. Therefore, in any country, whose residents carry out business abroad or make financial transactions with people in other countries, there needs to be a certain mechanism for giving access to foreign currencies. Then payments can be carried out by people in those countries in a form acceptable to foreigners. In other words, there is necessary to have exchange of currencies with foreigners or foreign exchange transactions that exchange one currency for another.
The exchange rate corresponds to the number of units of one nation’s currency that must be surrendered, with a view to acquire one unit of another nation’s currency and therefore exchange rate is a simple price. There is an exchange rate for the currency Dollar in U.S. There is an exchange rate for every other national currency traded in that market.
Although we talk about an exchange rate for the Dollar in the market, there’s no single or unique dollar exchange rate in the market. The market price of a given commodity is set by the interaction of buyers and sellers in that market. Likewise, a market exchange rate between two currencies is determined by the interplay between the official and private participants in the foreign exchange market.
In a foreign exchange transaction a party purchases a quantity of one currency by paying a quantity of another currency. The purpose of the exchange market is to help international business and investment. A foreign exchange market helps businesses to convert one currency to another. For example, it facilitates a U.S. business to import European goods and pay in Euros even though the business’s income is in U.S. dollars.
Therefore, Foreign exchange marketor foreign currency market or forex markettrades currencies and lets banks and other institutions easily buy and sell currencies.
The foreign exchange market is the largest and most liquid financial market in the world. Traders in the foreign exchange market include large banks, central banks of countries, corporations, governments, currency speculators, and other financial institutions. The average daily volume in world foreign exchange and related markets is continuously growing.
The modern foreign exchange market started in 1970s when countries gradually switched to floating exchange rates from the fixed exchange rate system. Each country had an obligation to take a monetary policy which maintained the exchange rate of its currency within a fixed value in the area of gold according to the Bretton Woods Agreement in 1944. This is called fixed exchange rate system. This system collapsed in 1971, after the United States unilaterally terminated convertibility of the dollar to gold.
A floating exchange rateis a type of exchange rate system where a currency’s value is permitted to fluctuate according to living conditions in the foreign exchange market. A currency that uses a floating exchange rate is called a floating currency. However, in cases of extreme appreciation or depreciation, the central bank of that particular country will normally intervene to stabilise the currency. Thus, the exchange rate system of floating currencies is known as a managed float. The central bank might allow a currency price to float freely between an upper and lower level. Management by the central bank may take the shape of buying or selling large lots of currency so as to provide support or resistance.
The participants in the exchange market may be called as a diverse group. Some of the buyers and sellers may become involved in conducting international transactions for the purchase or sale of property for sale or other assets like plant and equipment. Some may be engaged in portfolio investment, dealing in stocks and bonds and other financial assets across borders, while others may be found in the money market trading short-term debt instruments internationally. The time period for investment may be few minutes to several years based on the type of participants. Whether their motive is investing, hedging, speculating, arbitraging, paying for imports, or seeking to affect the rate, they’re all the framework of the aggregate demand for and provision of the currencies involved. They all have a role in determining the market exchange rate.
Many international traders use the foreign exchange market to invest for short terms in money markets. Currency speculation is the short-term exchange of funds from one currency to another in anticipation of movements in exchange rates. The rate of return it earns on this investment depends not only against the specific country’s interest rate, but also the evolution of the value of the concerned currencies in the intervening period.
Operating in the exchange market is an ongoing challenge for the Entrepreneur and involves some risk. Foreign exchange risk arises from changes in exchange rates. Such fluctuations in the currency market can alter the Entrepreneur’s expected value of international transactions, simply as it can imply a shift in the export opportunities available and also have an effect on imports. However, it is possible to remove some of the risks related by using the foreign exchange market.
The spot exchange rate is equal to the exchange rate for that particular day. Spot exchanges are updated on a daily basis and can be obtained on the internet, either in the financial pages of newspapers. The dynamics between the demand, and the provision of a specific currency compared to that of other currencies, determines the worth of a currency.
The 90 day forward exchange rate for converting Pounds into Indian Rupees (INR) is £ ;1 = INR 110, on the 26 June 2008. The importer enters into a 90-day forward exchange agreement with a foreign trader at this rate and is guaranteed to be unaffected should the Rupees/Pound exchange rate fluctuate.
On the 26 June 2008, the Spot exchange rate is £ ;1 = INR 120 and the 90 day forward exchange rate is £ ;1 = INR 110. The international entrepreneur sells £ ;1 million to its bank in return for INR 120 million, and during the same time enters into a 90 forward exchange deal with its bank for converting INR120 million into pounds. This implies that the entrepreneur will receive £ ;1.09 Million (INR120 million /110 = £ ;1.09 Million).
Similar to FEDWIRE and CHIPS in the United States, other countries also have large-value interbank funds transfer systems such as CHAPS (Clearing House Association Payments System) in United Kingdom, EAF in Germany.
The foreign exchange market is the largest and most liquid market in the world. U.S. Government securities market is the world’s second largest market. The worldwide turnover of foreign exchange market is several times the rate of turnover in the U.S. Government securities market.
For these customers the foreign exchange transaction is made in the context of their payments process and a way of completing certain commercial, investment, speculative, or hedging activity.
Central banks of all countries participate in foreign currency markets to a certain extent and their operations can be of great significance for those markets. Intervention by Central banks to influence foreign exchange market conditions or the exchange rate, is a critically important part of each central bank’s foreign currency transactions. However, the intervention practices of individual central banks differ greatly with regard to the objectives, approaches, amounts and tactics.
A broker is an intermediary who acts as agent for either or both parties in the transaction and the broker doesn’t commit capital. The broker relies on the commission had been for the service provided. Brokers don’t take positions or run the risk of holding an inventory of currency balances subject to exchange rate fluctuations. In over-the-counter trading, the activity of brokers is confined to the dealers market. Brokers handle about one fourth of all U.S. foreign exchange transactions in the OTC market.
A spot transaction is a straightforward exchange of one currency for another. The spot rate is the current market price. It is a two-day delivery transaction except in the event of trades between the US Dollar, Canadian Dollar, Turkish Lira and Russian Ruble. These settle the next business day. It represents a direct exchange between two currencies.
Here, money doesn’t actually change hands until some agreed upon future date. A purchaser and seller agree on an exchange rate for any date in the future, and the transaction occurs on that date, irrespective of the market rate on that day. The duration of the trade can be either a one day, couple of days, years, or months. Usually the date is decided by both parties.
Foreign currency futures are exchange traded forward transactions with standard contract sizes and maturity dates. Futures are standardized contracts and are normally traded on an exchange. The average contract length is roughly 3 months. Futures contracts are usually inclusive of any interest amounts.
The most common type of forward transaction is the currency swap. In a barter, two parties exchange currencies for a certain length of time and agree to overthrow the transaction at a later date. These aren’t standardized contracts and aren’t traded through an exchange.
A foreign exchange option is a derivative where the owner has the right but not the duty to exchange money denominated in one currency into another currency at a pre-agreed exchange rate on a specified date.
Very well constructed article thanks for educating me I didn’t quite understand the mechanism of what was forEX trading.
Arbitrage trading is buying or selling a security within the trading day that takes advantage of value differences withing the market the security is being traded in. Every day the stock market is open arbitrage trades are being made all throughout the day.
An arbitrage trader will purchase a security and sell the same security (or one closely related) at the same time. They attempt to profit off of the value differences in the various markets. They may use the difference between CME futures and the NYSE for their trade. Often when news or events occur it can move the index higher or lower. Both markets won’t move during the same time or for as strong a move. They will be unequal in price for a specific amount of time. This is where arbitrage traders attempt to make their profit.
Essentially made up of four major components, the application offers the trader key insight into FX market price action. First, we’ll take a look at both the Tenkan and Kijun Sens. Used as a moving average crossover, both lines are simple translations of the 20-and 50-day moving averages, although with slightly different time frames.
The markets most often used for Arbitrage trading are the S&P futures in collaboration with the stocks of the S&P 500. On most trading days they’ll develop a lag or disparity between the price of the two. Often this happens when the most highly trades stocks of the indexes or the NYSE and the NASDAQ develop lag time with the S&P futures. This can be either the stocks lagging behind the S&P futures or the S&P futures lagging behind certain stocks. The S&P futures are traded on the CME market.
An example of a good arbitrage trading is when a stock gets ahead of the futures in price and an arbitrage trader sells the stock and purchases the futures for the stock. The traders winds up holding a similar investment that they started with while taking profit on the price spread between the two markets.
One of the easiest trades to spot is when a heavily traded company releases very popular news. The stock begins to rise in price on the NASDAQ as the traders are buying up actions of the company. While this is happening an arbitrage trader will buy call options for the stock on the AMEX if they’re available. They will only buy if the call options haven’t begun to rise. By doing this the trader can make money when the stock rises on the AMEX to catch up with the price on the NASDAQ. This sounds easy in theory but the differences in price will only last for a couple of seconds. An arbitrage trader has to be quick.
People enjoy a lot of comforts as they go through life each day. Have you ever wondered who’re responsible for all these life’s comforts? You have to express my appreciation to the entrepreneurs for it. But, what is an entrepreneur? Entrepreneur has many meanings. If you want to know that’s what it means, just keep on reading. A person who assumes business responsibility and the dangers that comes along with it is called an entrepreneur. As an entrepreneur, one expects to make profits, whether big or small, depending on the business he or she’s involved in. Generally, the entrepreneur decides which product or service to offer, obtain the needed facilities, hires the required labor force, acquire production materials, and provides for the capital.
There is no guarantee that the business will be a success. However, if the business turns out to be a success, the entrepreneur will reap all the advantages and rewards in the area of the profits. In case of a loss, the entrepreneur will likewise be the one to suffer.
Assuming business responsibilities is emphatically not an easy task. Not many individuals are willing to take huge responsibilities, and most especially take all the risks. Only an experienced and knowledgeable individual will dare to become an entrepreneur. The ultimate objective of an entrepreneur is to earn profits. By putting up a small business, you’ll also earn limited returns but by establishing a big business, you’ll also earn more profits. The choice will rely on the entrepreneur and his or her available resources. An entrepreneur will be the one to decide which product or service to offer, as the most significant person in the course of a business venture. He or she needs to be able to determine the needs of the population and provide the reply to such needs. A careful survey of the targeted market is required. This takes time because one cannot decide immediately what product or service to offer. Once the goods or services are identified, it is now time for the entrepreneur to obtain all the needed facilities. This will include the construction or the place of business.
Along with it are the other things needed such as fixtures, the office furniture, and many other things. The capital is usually given by the entrepreneur and a portion of it will be allotted for the purchase of the facilities. Later on, these things will be seen as one of the assets of the business. Recruitment of the labor force is also an important element of being an entrepreneur. The business won’t succeed if it does not have a loyal labor force. Everyone should work together in order to attain success. It is therefore of utmost importance to hire only the qualified employees. As you can see, the entrepreneur has to look after many things. This may be one reason that not many individuals are willing to become one. If the business succeeds or fails, it is all on account of the entrepreneur.
Now that you see what an entrepreneur is, would you like to become one? Well, if you’ve got the right attitude, qualifications, and skills, you too can become an entrepreneur. It would be best to embark on a humble beginning. Don’t attempt to reach the height of success all at once. It takes hard work, perspiration, and dedication. You must take one thing at a time.
Becoming an Entrepreneur isn’t an easy task. It is something that takes time, motivation, and dedication, among other things. While we cannot just snap our fingers and be successful entrepreneurs overnight, we can take time to explore and learn things to help us to succeed.
When you encounter a new word, what do you normally do? Do you ignore it or do you attempt to look up its definition in the dictionary? They will certainly look up for the new word’s meaning, for smart individuals. If you are engaged in business undertakings, perhaps you wish to define entrepreneur. Are you an entrepreneur? There is a specific definition of entrepreneur. An entrepreneur is a businessperson who finances or initiates emerging commercial enterprises according to most dictionaries. Basically, he or she’s the person who allows for the capital of the business. However, providing capital alone isn’t enough to be called an entrepreneur. How is that? It’s because some individuals prefer to invest in a particular business venture but that person will let someone else handle all the business activities.
Any person who finances a business venture and runs it can be called an entrepreneur. According to some economists, an entrepreneur is a person who develops a new way of producing something, a fresh and new product, or an innovative market. Usually, entrepreneurs begin with a small business and if it turns out to be successful, the business will slowly expand. So why put up small businesses? You see, small businesses require smaller amount of capital while larger ones demand huge capital. Not many entrepreneurs nowadays are willing to run the risk of putting up big businesses without proper research and studies.
Some say that being an entrepreneur starts right after a child is born. The qualities are already possessed by the child from the time of birth. The individual is already a thinker and schemer of things. These individuals will want to achieve the impossible. So if you are a born entrepreneur, you must develop your skills and qualities so that you will be able to use it in the very near future for your success. Putting up a new enterprise may sound very hard but for the entrepreneur, nothing’s impossible to achieve. Innovation, creativity, leadership, being a risk-taker, and having the right inner drive or passion are part of the keys to being a successful entrepreneur. If you possess these things, nothing can keep you from being one of the great names in the marketplace.
If you want to learn more about the definitions of an entrepreneur, you can easily search for the sense of the word in popular search engines like Google and Yahoo. You can find a bunch of definitions for you to fully understand the word much better by using the strength of the internet. There are many resources to find online; all it takes is diligent research. Being an entrepreneur is an exciting and challenging task. If you have the sand, the capital, the right inner passion, skills, and appropriate qualities, do not hesitate to introduce something new to the market. Besides, most customers like new stuff. So what are you waiting for? Study the market and see if you can come in it and become a new entrepreneur.
In January 2010 there’ll be a special election in the condition of Massachusetts to fill the Senate seat made vacant on the passing of Sen. Ted Kennedy. While almost every politician in Massachusetts is eyeing the chance to run for US Senate, there’s only one man who is truly worthy of the honour of being the next Senator from the State of Massachusetts. That man is former Red Sox pitcher Curt Schilling.
The Seventh Amendment reads: " ;[t]he Senate of the United States shall be made up of two Senators from each State, elected by the citizens thereof, for six years; and each Senator shall have one vote. The electors in each State shall have the qualifications required for electors of the more numerous branch of the State legislatures.
When vacancies happen in the portrayal of any State in the Senate, the executive authority of such State shall issue writs of election to fill such vacancies: Provided, That the legislature of any State may empower the executive thereof to make temporary appointments until the people fill the vacancies by election as the legislature may direct.
States rather than individuals would vote for state senators prior to the adoption of the Seventeenth Amendment. This way, each state" ;s government would have a represented in the federal legislature. Also, senators with the most merit instead of the most popular senators could be elected.
The United States has been built under a principle of both all citizens and the member having a voice in selecting federal government officials. The House of Representatives was designed to defend the interests of people while the Senate was designed to represent the interest of States. People could vote for their local state representative and local federal representative. There were many more representatives than senators so it is more probable that the representatives would actually represent the best interests of their district. The representatives were also less prone to be influenced by special interest groups. Senators were chosen by elected state representatives. They didn’t have to campaign to be elected. They simply had to competent at lawmaking and understand the benefit of their states.
After the Amendment was passed, state Senators had to get elected. In order for them elected, they had to get funding for the campaign. A large part of the funding came from interest groups that didn’t particularly correspond to state interests. In addition, these Senators no longer had to have as much merit as lawmakers. They just had to be in a position to win a campaign based on popularity. These Senators represented many people and had a very impersonal relationship with their constituents.
Curt Schilling gave serious thought to running for US Senate in 2008, but decided to go back and pitch one more season for the Red Sox. Now in retirement and living in Medfield, Massachusetts it’s time for Curt Schilling to step up to the plate and run for Senate.
The cyberspace has surely made business processes and transactions convenient. Even shopping can now be done online due to the availability of remote payment methods such as internet banking. With the online banking system established in almost all countries, money exchange processes have been deduced now to few clicks on the computer.
This is also the reason why more than half of the bank users are signing up for online and mobile banking. However, along with the prevalence of this banking methods, victims of bank scams and fraud are also increasing. These incidents can be reduced and avoided in the future with sufficient awareness on safe online banking.
Here are some principles you need to consider upon registering for an online bank.
Your money online can be stolen as easily as robbing your wallet
Some people think that money kept in a stable bank is already safe. However, opting to register your bank account in their online system actually makes it easier for cyber thefts to get hold of your funds. So this is a consideration you should have prior to engaging to online banking.
Secure banking accounts as you secure your own house
Once you have finally decided to hop into the online banking, then it is essential to be take passwords and security questions seriously. We may neglect these details when creating other various accounts online, but banking details should be treated differently. Think of a significant but complicated password. Make sure your bank require multiple authentication, as well.
Know your bank better
Whether you are registered with a physical bank or with an online bank solely, it is crucial for you to gather as many information as you can about them. Focus specifically on their insurance and banking security policies. This way, you will be able to gauge more accurately your protection as their client.
Start being wary of new links
New links that are often sent through our emails can be a huge trap for your banking, and makes you more prone to phishing. Do not click on every link that you receive in your email or from any ads. Do not trust websites that require banking information, unless it is a legit website or something that you have tried for yourself.
In this digital age, it is getting more necessary to be conscious and careful of our online activities, especially when there are huge amount of funds involved. Remember to never compromise security with convenience.
Wars come and go, powerful countries battle incredible uncertainties and developing countries start to ramp up economic activity through innovation and education. The world, as we know it is changing, but what effect does this (or will this) have on Canada?
In July, the Bank of Canada decided that it would keep the policy rate at the incredibly low rate of 1% until conditions improve. They also adjusted the growth rate for this year to 1.8% where it was previously 1.5% before a strong first quarter.
The bank saw some hope for Canada’s economic conditions for later this year: here are some of this year’s outlooks.
If inflation does occur in Canada, there could be stronger private-demand in the United States. If high prices for house also occurs than household deleveraging could end soon. This would give businesses more confidence investing and hiring if there was a growth in consumption and residential investment. Through the US trading channels and commodity pricing, the Canadian economy will likely benefit.
If the European crisis isn’t contained and sorted out there could be a large downside for the Canadian economy. If European countries were to lose access to debt markets, confidence would be shaken, which would affect US credit spreads and ultimately prices would fall. This would be bad for Canadian exports and for domestic economic activity
If China’s economy slows down Canada could see weaker export sales, lower prices for commodities and terms of trade would take a big hit.
The high level of household debt and imbalance in a few areas of the housing market are still a source of domestic risk. Even though credit growth has slowed, the level of debt is still high. If borrowing rates continue to be this low there could be renewed momentum in the housing market which would produce economic activity and inflation, but it was also make the existing imbalances worse and increase the likelihood of a more sever correction later on that could have incredibly negative effects on the Canadian economy.
This sounds like a lot of risk for the Canadian government to not be taking more actions on… I wonder what they are going to do about this? It’s clear that there are a few major pain points for Canada, all the public can really do is watch, don’t go into too much debt and wait.