Today, I present a reader submission into the latest writing contest here at 20smoney that aims to offer ideas on how to fix some of our biggest problems.  The contest asks readers to submit their input on the following major challenges facing the United States (and other countries):
1. High unemployment – How would you go about lowering unemployment? The current policies seem to issue debt or print money in order to prop up the economy and boost employment, but these have potential disastrous side effects.  Your solutions need to have minimal …

Amazing times we live in.  It seems like more and more people are strategically defaulting on their debt obligations either simply due to being sick of dealing with it or with a larger goal in mind.  Allow me to explain.
Mortgage Default
I’ve been pondering (and many economists have as well) how consumption has been rising in recent months despite stubbornly high unemployment.  Most people are starting to point to the fact that people have simply stopped paying their mortgage.  It’s commonly accepted that people can live in their home for a …

The IMF is announcing further plans to bail out Greece.  The largest contributor of funds to the IMF is the United States.  Or, maybe I should say, you fund the IMF.  The latest round of bailouts for the disaster-of-an-economy known as Greece is estimated to be about $7 billion in U.S funds.
Well, I apologize for interrupting your day.  You need to go back to work so that you can pay taxes and send more money over the Greece so that the Greeks can have guaranteed retirement at age 50.  You?  …

Gresham’s Law is essentially this: BAD MONEY DRIVES OUT GOOD MONEY. What is good money and what is bad money and how does bad money drive out good money?  I will explain.
Good money is essentially legal tender that has some intrinsic value, or it can be described as money where there is not much difference in its nominal value and its commodity value.  For example, if a coin is worth $1 and the metal is melted down, that metal should be worth about $1 as well.  This is good money.
Bad …

The stock market was slammed today after S&P downgraded the sovereign debt of Greece and Portugal.  For those of us waiting for a correction for some time now, this is an interesting day.  Now the question becomes whether this is the start of a larger correction or just a speed bump.  For months now, these types of days have been nothing more than speed bumps.
A Few Stocks I’m Watching
Philip Morris Int’l (PM)
Since being forced to sell my shares at $50/share due to my covered calls play earlier this year, I’m …

Today S&P downgraded Greece & Portugal which sent the U.S. stock market down over 100 points.  Anyone who follows economic news already knew that the situations in these European countries is not good.  So it is interesting to see the market react in a big way to news that most people expected.  This is a statement on how markets work.  When a market is up 70%, people get used to buying high and selling higher.  They also get used to the market shaking off bad news.
As this game unfolds, expect …

When you hear the term “The Good Life”, what comes to your mind?  Sitting on a beach?  Working for a non-profit?  Spending time with your family?  This is an important question, because how you define the good life will likely dictate your goals and vision for your life.  Let’s break it down further.
Fulfillment
I would assume that your good life would involve some level of fulfillment or achievement.  This could come from a variety of sources such as a job, a business, volunteering, seeing your kids accomplishments, etc.  Where do you …

Recent article out saying that most economists believe that the recovery is under way, but it really has nothing to do with the stimulus passed in early 2009.  See the following quote:
About 73% of those surveyed said employment at their company is neither higher nor lower as a result of the $787 billion Recovery Act
This article isn’t meant to debate whether or not the stimulus helped.  What I’m here to say is that if there is a chance that it didn’t help (which we can all agree that there is …