Why Does Income Inequality Exist? An Economic and Biblical Explanation

October 31st, 2014

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The Bible speaks at length about our uniqueness. We are created in God’s image and are matchless, just like a snowflake. We are also commanded to use our unique combination of skills and abilities to glorify God and serve others. Our unique skills allow us to make a special contribution to the world we live in, not just in the church or on the mission field, but through our work.
Because we are uniquely created, we are endowed by Christ with a specific set of gifts. We can further the Kingdom of Christ by knowing our gifts and pursuing them with excellence. Economists refer to this as comparative advantage. People are served best when they focus on the production of things that they can produce most efficiently (at the lowest opportunity cost) and avoid engaging in the production of goods or services for which they are costly producers.

Comparative advantage is the reason that I am an economist and not a professional singer. I love to sing but am not naturally gifted, so the time and energy I would have to put into becoming good enough to serve others through that is wasted. This diversity of gifts allows us to serve others through market exchange. I can open a dry-cleaning business or run a restaurant if those are my gifts. By pursuing that with excellence I am not only awarded an income, but it allows me to serve others. Because gifts are different and value in the market place is subjective, incomes will be different. They are different because we are created differently. Income inequality is then inseparable from a fallen world in which scarcity abounds.
The market is only capable of rewarding through profit and it punishes with losses. These are in terms of dollars. Because the goods and services we bring to the market are valued subjectively by the purchaser, income inequality is a fact of economic life and economics pervades all of our life choices.

That said, we as Christians are called to seek justice and to care for the poor. We must be at the forefront of this discussion on income inequality – understanding where it is natural, and challenging the status quo where it is unjust. Corruption and injustice that cause poverty must be eradicated. Christians must also be leaders in cultivating and protecting an economic environment that creates opportunity for those in poverty to enjoy upward mobility through the dignity of work.

This paper looks at some of the economic and Biblical reasons why income inequality exists. The following are the primary findings of this research:

  • Diversity is a Biblical premise of Creation. We are born with different gifts.
  • By focusing on our gifts we can unleash our comparative advantage and bring value to the marketplace by serving others.
  • In a free society, absent cronyism, disparity of wages is not a sign of injustice.
  • If we care about a society that reduces poverty and assists the poor, we should be concerned not about income inequality but the relative prosperity of those at the bottom and their income mobility.
  • An opportunity society is the best way to unleash the creativity and dignity with which we are created and serve others with our gifts.

We assert that income inequality is a natural part of the human condition. We are created uniquely and that means that there is no universal Biblical standard for income equality. The question that must be addressed Biblically and through public policy is the relative prosperity of the poorest among us and their ability to gain income through the pursuit of their gifts. To that end, we need an opportunity society which embraces our uniqueness, unleashes our creativity and potential and serves the common good. Markets have empirically demonstrated that they are better than any other system at lifting the poor out of destitution.

 

AnneBradley

About the Anne:

Dr. Anne Rathbone Bradley is the Vice President of Economic Initiatives at the Institute, where she develops and commissions research toward a systematic biblical theology of economic freedom. She is a visiting professor at Georgetown University and has previously taught at George Mason University and at Charles University, Prague. She is currently a visiting scholar at the Bernard Center for Women, Politics, and Public Policy. She served as the Associate Director for the Program in Economics, Politics, and the Law at the James M. Buchanan Center at George Mason University.

Dr. Rathbone Bradley’s academic work focuses on: the political economy of terrorism with specific emphasis on the industrial organization of al-Qaeda. Her academic research has been published in scholarly journals and edited volumes. She is currently working on a book that analyzes the political economy of al-Qaeda post 9/11. Based on her academic research she also worked as an Economic Analyst for the Central Intelligence Agency’s Office of Terrorism Analysis.

Dr. Rathbone Bradley received her Ph.D. in Economics from George Mason University in 2006 during which time she was a James M. Buchanan Scholar.

Joining me this week on Your Financial Editor is Ms. Anne Rathbone Bradley  - You can listen live from anywhere Saturday morning at 8am on AM 930 WFMD by logging on to www.wfmd.com and clicking the “listen live” button! If you can’t tune into the show, there will be a podcast available the week following the show here.

 

University of Pittsburgh Ebola expert: Infections among medical staff expected

October 24th, 2014
By David Templeton / Pittsburgh Post-Gazette

Amy-L-Hartman

Amy L. Hart­man did breakthrough Ebola research a decade ago and joined a CDC team that helped bring the 2005 Mar­burg virus outbreak under control in An­gola.

The Univer­sity of Pitts­burgh doc­tor of vi­rol­ogy and re­search man­ager at the uni­ver­sity’s Re­gional Bio­con­tain­ment Lab­o­ra­tory in Oak­land said what is hap­pen­ing in Dal­las in the wake of Tho­mas Eric Dun­can’s death from Ebola comes as no sur­prise.

“Un­for­tu­nately, the trans­mis­sion from Dun­can to health care work­ers is not at all un­ex­pected,” she said. “And I would ex­pect other po­ten­tially in­fected trav­el­ers from West Africa, like Mr. Dun­can, to come to the United States and show up at Amer­i­can hos­pi­tals.”

Given the ex­tent of the out­break in West Africa, a few more are likely, she said.

Mr. Dun­can died Oct. 8 in a Dal­las hos­pi­tal, and two nurses who treated him have con­tracted Ebola.

The big ques­tion is why one of those nurses, Amber Joy Vin­son, took a round­trip flight early this week be­tween Dal­las and Cleve­land.

“I’m sur­prised they ha­ven’t kept those in­di­vid­u­als un­der close ob­ser­va­tion for 21 days,” she said. “Why she got on a plane, I do not know. The like­li­hood that she would have in­fected any­one dur­ing a flight is low, but it is not a risk they should have taken. They shouldn’t be trav­el­ing dur­ing that time.”

Breaches in pro­to­col es­tab­lished by U.S. Centers for Dis­ease Con­trol and Preven­tion are ex­pected to be ad­dressed dur­ing a hear­ing at noon to­day held by U.S. Rep. Tim Mur­phy, R-Up­per St. Clair, as chair­man of the House Over­sight and In­ves­ti­ga­tions sub­com­mit­tee. It will fo­cus on “pro­tect­ing pub­lic health and en­sur­ing that not a sin­gle ad­di­tional case of Ebola oc­curs in the United States.” Tom Frie­den, CDC di­rec­tor, will tes­tify about how the in­fec­tions oc­curred in Dal­las.

Gov. Tom Cor­bett said his ad­min­is­tra­tion has been talk­ing with the CDC, mu­nic­i­pal and county health of­fi­cials, and hos­pi­tals state­wide to learn from what has hap­pened in Texas.

As a post-doc­toral fel­low with the CDC, Ms. Hart­man dis­cov­ered an amino acid that makes the Ebola vi­rus patho­genic. When the out­break of Mar­burg, which is in the same fi­lo­vi­rus fam­ily as Ebola, oc­curred, she and other CDC sci­en­tists went to An­gola to con­firm in­fec­tions of Mar­burg. That out­break, the larg­est ever of Mar­burg, re­sulted in a 90 per­cent death toll, with 229 deaths among 254 infections.

Ebola in­fec­tions oc­cur only from di­rect con­tact with in­fected bod­ily flu­ids, rather than aero­sol trans­mis­sion. His­tor­i­cally, health care work­ers in­volved in treat­ing in­fected pa­tients “have al­ways been a crit­i­cal el­e­ment in the am­pli­fi­ca­tion and spread of these out­breaks,” she said, mak­ing them the “weak link” in out­breaks, even if they wear proper pro­tec­tive gear.

“This vi­rus is so deadly, and the amount that is needed to in­fect a per­son is so small, that one tiny, in­ad­ver­tent mis­take — ‘a breach in pro­to­col’ — is all that is needed to be­come in­fected.” Even ex­pe­ri­enced med­i­cal staff with the World Health Or­ga­ni­za­tion and Doc­tors With­out Borders in Africa be­come in­fected, she said.

“Here,” Ms. Hart­man said, “this mini-out­break in Dal­las shouldn’t go be­yond the ini­tial trans­mis­sion. That is a dis­tinc­tion that is eas­ily lost on the pub­lic and me­dia, which can be prone to over-ex­ag­ger­a­tion.”

A ma­jor Amer­i­can out­break re­mains un­likely.

“We know how to con­trol Ebola out­breaks,” she said. “We’ve been suc­cess­ful in do­ing it many times in Africa, and it shouldn’t be any dif­fer­ent here, where we have proper med­i­cal fa­cil­i­ties. It’s a mat­ter of con­tact-trac­ing and quar­an­tine.”

You can find the original publication here.

Phyllis Schlafly-Who Killed the American Family?

October 24th, 2014

Phyllis Schlafly

Phyllis Schlafly has been a national leader of the conservative movement since the publication of her best-selling 1964 book, A Choice Not An Echo. She has been a leader of the pro-family movement since 1972, when she started her national volunteer organization called Eagle Forum. In a ten-year battle, Mrs. Schlafly led the pro-family movement to victory over the principal legislative goal of the radical feminists, called the Equal Rights Amendment. An articulate and successful opponent of the radical feminist movement, she appears in debate on college campuses more frequently than any other conservative. She was named one of the 100 most important women of the 20th century by theLadies’ Home Journal.

Mrs. Schlafly’s monthly newsletter called The Phyllis Schlafly Report is now in its 47th year. Her syndicated column appears in 100 newspapers, and on many conservative websites, her radio commentaries are heard daily on over 600 stations, and her radio talk show on education called “Eagle Forum Live” is heard weekly on 90 stations. Both can be heard on the internet.

Mrs. Schlafly is the author or editor of 20 books on subjects as varied as family and feminism (The Power of the Positive Woman and Feminist Fantasies); the judiciary (The Supremacists: The Tyranny of Judges and How to Stop It); religion (No Higher Power: Obama’s War on Religious Freedom); nuclear strategy (Strike From Space and Kissinger on the Couch); education (Child Abuse in the Classroom); child care (Who Will Rock the Cradle?); and phonics (First Reader and Turbo Reader).

Mrs. Schlafly is a lawyer and served as a member of the Commission on the Bicentennial of the U.S. Constitution, 1985-1991, appointed by President Reagan. She has testified before more than 50 Congressional and State Legislative committees on constitutional, national defense, and family issues.

Mrs. Schlafly is a Phi Beta Kappa graduate of Washington University, received her J.D. from Washington University Law School, and received her Master’s in Political Science from Harvard University. In 2008 Washington University/St. Louis awarded Phyllis an honorary Doctor of Humane Letters.

Phyllis Schlafly is America’s best-known advocate of the dignity and honor that we as a society owe to the role of fulltime homemaker. The mother of six children, she was the 1992 Illinois Mother of the Year.

Joining me this week on Your Financial Editor is Ms. Phyllis Schlafly the author of “Who Killed the American Family?”- You can listen live from anywhere Saturday morning at 8am on AM 930 WFMD by logging on to www.wfmd.com and clicking the “listen live” button! If you can’t tune into the show, there will be a podcast available the week following the show here.

About Who Killed the American Family?

Who-Killed-the-American-Family2

American families are the backbone of this nation. The American family is the fundamental institution that provided the Founding Fathers with the emotional support and driving courage to face the tyrannical government that threatened their very existence. It is the essential building block of a free society with limited government.The American family used to be the fundamental institution of our stable, liberty-loving and very successful society, but in the last hundred years it has been attacked, debased, maligned, slandered and vilified by every facet of society. At issue is a rebellion against any sort of moral code, and no family is safe from the official busybodies.

“Who Killed the American Family?” reveals the concerted assault on the American nuclear family by many forces: feminists, judges, lawmakers, psychologists, school districts, college professors, politicians offering incentives and seeking votes, and more, each opposed to the traditional American nuclear family and each with its own raison d’être for wanting to abolish it. The wreckage of the American family leaves us with the inability to have limited government, because government steps in to perform tasks formerly done by the nuclear family.

A veteran conservative activist and thought leader who led the charge to successfully defeat the Equal Rights Amendment in the 1970s, Phyllis Schlafly explains how changes in the law, in court decisions, in the culture, in education and in entertainment have eroded the once-precious institution. Any of these factors on its own would not have been enough to impact our families, but together they add up to a mighty force. Schlafly not only exposes the tactical charge the left has implemented, but she offers hope and a plan for stopping anti-marriage incentives and restoring in our culture the sacred nature of the family unit.

Financial Planning’s Darkest Hour

October 17th, 2014

When politicians disengage from fiscal responsibility, it’s easier for others to do so, too.

Written by: Don Phillips, appeared in Morningstar Advisor

  

Financial planning took center stage in the U.S. political debate this summer when vice president Joe Biden bizarrely boasted that he had no savings account and owned not a single stock nor bond. His comments were in response to Hillary Clinton’s odd attempt to bond with middle-class Americans by declaring that she and Bill were “dead broke” when they left the White House. Clinton, of course, neglected the reasons for her family’s financial distress, namely the huge legal costs incurred defending themselves against charges of dubious ethical behavior. Rather than feel shame that their elite position and legal wiliness sheltered them from the consequences of their actions—Clinton pays that issue of inequality no mind—she instead seems guilt ridden over the sizable nest egg she and Bill have built through hustle and hard work in subsequent years. So, there you have in a nutshell the current view of financial planning in American political discourse. Of two leading candidates for the next presidential election, one is embarrassed by her success, the other proud of his failure.

Biden’s comments will surely distress financial planners. Here is a man who has reaped a well-above-average salary over more than three decades in the Senate and six years in the White House, yet he has no meaningful savings, despite likely having significant subsidies for meals, entertainment, travel, and even housing. Most alarmingly, he seems to view his lack of financial discipline as a political asset, something that makes him more electable, more like the common man. But to anyone grounded in financial planning, he simply looks like someone who’s made foolish and irresponsible choices. Like Rip Van Winkle sleeping through the American Revolution, Biden has slumbered through a 17-fold rise in the stock market and the greatest bond bull market in history! His financial ineptitude perhaps sheds light on our political leaders’ inability to shave our Federal debt. As Ben Franklin said, “It is hard for an empty sack to stand upright.”

Biden’s fiscal mismanagement is irresponsible to an almost buffoonish extent, but the damage his example does cannot be laughed off. Clinton’s comments are similarly harmful, even though her actions are more dignified. Both leaders perpetuate the insidious notion that saving and investing are activities available only to the fabled 1%. They bolster the impression that the average person need not be concerned with such matters or should be embarrassed for having success in so doing. That may be a sentiment that wins elections, as it’s comforting to be told you don’t have to do the hard work of saving for the future, but it runs counter to much of what makes America great. It’s deeply troubling that our savviest political leaders see more advantage in exploiting financial ignorance than in correcting it.

John Dos Passos famously said in his kaleidoscopic trilogy, U.S.A., “all right, we are two Americas.” He was referring to matters of wealth, as the 99% movement has more recently. But wealth is mercurial. It falls on the pop star as readily as the businessman, the tech entrepreneur as the star athlete, the lawyer, or the lottery winner. It is also easily squandered. Much more enduring, and perhaps more divisive, are people’s attitudes toward money. For generations of Americans who were reared on the lessons of Franklin’s frugality, Emerson’s self-reliance, and Thoreau’s independence, Biden’s boasting of his utter dependence on the state to care for his future needs is incomprehensible, especially in light of the myriad advantages he’s had. Biden seems forged from a wholly different set of principles than those on which our country was founded and many of us were reared. I think this division is what inspires critics of the Obama administration when they awkwardly toss out charges of socialism. It’s as if we’ve split into two sects, one championing Franklin’s self-made man, the other seeking solace in Biden’s state-dependent man.

For U.S. planners, this deterioration of fiscal responsibility, as exhibited by two of our most prominent politicians, likely means more tough times ahead when it comes to curbing client attitudes and behavior. When our leaders disparage or disengage from fiscal responsibility, they make it that much more tempting for others to do so, too. Rather than embrace the financial planning movement’s efforts to strengthen the middle class by promoting thrift and investment, today’s leaders are more apt to signal that the average American need not concern themselves with saving or investing. That may comfort voters, but it lessens our national resolve and undermines the spirit on which our country was founded. More immediately, it makes the struggle against financial apathy and ignorance that planners continue to wage all the more difficult.

Jim Rogers Interview on the Fed and Global Economics

October 17th, 2014

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Jim Rogers has made money as an investor over several decades by learning about and understanding global long-term fundamental drivers. He has been an outspoken critic of our current Federal Reserve Board policy and of government deficit spending. With the current bull market pushing six years and the historic open ended quantitative easing policy nearly finished, we thought it would be a good time to check in with Rogers, who now lives in Singapore, regarding the bull equity market, commodities and the long-term effect of this extraordinary period of central bank activity. He shares his thoughts on the global economy and offers some surprising views on potential economic and political changes.

Futures Magazine: The current bull market, which some people view as a creation of central bank policy, has been going on for more than six years without a serious correction. Is one due?

Jim Rogers: [There is] a worldwide ocean of artificial liquidity; the ocean is getting bigger all of the time. It’s the first time in recorded history that all the major central banks have been printing money. The Japanese said they would print unlimited amounts of money, Europeans said we will do whatever it takes, the English say ‘“let us in too,” the Americans—you know what they are doing. [The Fed] says it is cutting back on its purchases but in the meantime the money printing continues. The people who are getting this money are having a wonderful time; and their friends are having a wonderful time, unfortunately it is artificial and it has got to end someday. I don’t know when “some-day” is, I’m terrible at market timing in the best of times [let alone] when [we are seeing something] that never happened in world history. When it ends it is going to be a nightmare for everyone concerned except the people that get it right. Most of us will not get it right. We have had economic setbacks in America every four to six years; we are going to have them again. The one in 2008 was worse than the one in 2002 because the debt was so much higher. The debt has gone up a staggering amount since 2008. The next time it is going to be worse. I hope we all survive it. If we somehow survive the next one, then for the one after that: I doubt if anyone could survive because the debt will be so high.

To read the full interview click here!

Article written by: Daniel P. Collins for Futures Magazine (October 2014 Edition)

Economic Stress – Harsh Truths and Keys to Empowerment

October 17th, 2014

Economic Stress

Economic Stress – Harsh Truths and Keys to Empowerment encourages the reader to examine these [financial] issues in a way that could help to promote a different outlook and also enhance a person’s or family’s quality of living.

Joining me this week on Your Financial Editor is Dr. Robert M. Brown III the author of Economic Stress- You can listen live from anywhere Saturday morning at 8am on AM 930 WFMD by logging on to www.wfmd.com and clicking the “listen live” button! If you can’t tune into the show, there will be a podcast available the week following the show here.

This book that captures the personal stories of people who are facing challenges meeting their financial obligations because of job loss, not enough work, job instability or low wages and the impact this has on their well-being. Using their own words, stories of economic stress are shared in the first four chapters. These include some of the experiences of a civil engineer who wakes up swinging because of the economic stress that he is experiencing, a middle class family that lives paycheck to paycheck, a single mom who is trying to cope with the prospect of being unemployed for the first time in her career, and a highly educated professional who has not been able to find work for more than three years. The remainder of the book identifies strategies that could help a person or a family address economic stress more effectively by exploring issues such as: (1) managing bill collector demands for the mortgage, rent, car note, utilities and credit card payments by being proactive rather than reactive; (2) seeking social support and asking for help; (3) understanding how the job applicant process can work; (4) building relationships rather than networking; (5) knowing how to attract mentors and sponsors to increase the likelihood of finding employment; (6) changing your mindset to make your life better; and (7) entrepreneurship. A major question that is asked in this book is whether or not it may be time to redefine what the American Dream means in the 21st century. Is it home ownership with big salaries, and an abundance of disposable income and tangible items? Is it having a more frugal lifestyle that embraces health, greater peace of mind and autonomy? Or, is it being a part of a loving, strong, supportive family that has the capacity to endure and thrive?

About the Author:

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Robert M. Brown III, Ph.D. is a medical sociologist whose research has become increasingly more focused on the reciprocal relationship between economic stress and health, particularly in the wake of the federal government shutdown during October 2013. He also provides expertise to state, federal and private agencies in areas which include family and community violence reduction and prevention, strengthening families, job preparedness for the 21st century workforce and health promotion. He believes that health should be viewed holistically, as a state of mental, emotional, spiritual, physical and economic well-being. Dr. Brown, a graduate of Howard University, has been a featured guest on radio and television programs around the country as well as a sought after speaker on these topics. As an educator and adjunct professor at Howard University, Dr. Brown is an advocate for students’ success in the classroom and beyond. He encourages students’ commitment to academic excellence and life-long learning. He also believes that higher education is an important tool for success in the 21st century which should be used in tandem with other skill sets to facilitate superior academic, work and life achievements.

Dr. Ivan Oransky- What you need to know about Ebola

October 10th, 2014

Tomorrow on Your Financial Editor, I will be sitting down with Dr. Ivan Oransky discussing Ebola in the United States, the flu, and Enterovirus. He will go over safety precautions people can take to stay healthy this season.

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Ivan Oransky is the vice president and global editorial director of MedPage Today. He teaches medical journalism at New York University’s Science, Health, and Environmental Reporting Program, and is the vice president of the Association of Health Care Journalists.

In the past, he has been executive editor of Reuters Health, managing editor, online, of Scientific American, deputy editor of The Scientist, and editor-in-chief of the now-defunct Praxis Post. For three years,  he taught in the health and medicine track at the City University of New York’s Graduate School of Journalism.

He earned his bachelor’s at Harvard, where he was executive editor of The Harvard Crimson, and achieved his M.D. at the New York University of School of Medicine, where he held an appointment as clinical assistant professor of medicine.

 

You can listen live from anywhere Saturday morning at 8am on AM 930 WFMD by logging on to www.wfmd.com and clicking the “listen live” button! If you can’t tune into the show, there will be a podcast available the week following the show here.

Prosperity in the Age of Decline

October 3rd, 2014

A guide for protecting your wealth in an age of turbulent business cycles

prosperity in the age of Decline

In Prosperity in the Age of Decline, Brian and Alan Beaulieu—the CEO and President of the Institute for Trend Research (ITR)—offer an informed, meticulously-researched look at the future and the coming Great Depression. Drawing on ITR’s 94.7% forecast accuracy rate, the book outlines specific, actionable strategies for capitalizing on cyclical opportunities and dodging economic danger. In this important resource, the authors reveal what it will take for individual investors and business leaders to prosper as the economy heats up prior to the predicted downturn, preserve wealth in the upcoming Great Depression, and profit on the way out of the depression. The imbalances and maladjustments have a while to play out and the authors pinpoint the investment opportunities to be had in the countdown period.

The Beaulieu’s examine the major economic trends at play, such as low interest rates, burgeoning government debt, and an aging population. They discuss which trends will last and what investors should do with this knowledge in order to thrive. The book also reviews the group of leading economic indicators that most consistently achieve reliable results for predicting where the economy is headed. Designed as a useful tool for investors, the book includes a working list of key trends, describes the upside potential of each trend, and explains the potential threat stemming from a particular trend. Understanding how to capitalize on these trends and knowing how to avoid the common pitfalls are the keys to creating a solid economic future for individual investors and business leaders.

  • Contains the strategies for capitalizing on cyclical opportunities and avoiding economic dangers
  • Offers an examination of major economic trends
  • Includes information on the leading economic indicators that most reliably achieve results
  • Shows how to preserve wealth and avoid the most common investing pitfalls

This comprehensive resource offers guidelines for averting cyclical downturns and building on rising industry trends.

Alan-Beaulieu

Alan Beaulieu will be joining me this Saturday on Your Financial Editor!  You can listen live from anywhere Saturday morning 10/4 @ 8am on AM 930 WFMD by logging onto www.wfmd.com and clicking the listen live button! Can’t make it? Don’t worry, our shows are recorded and you can listen to them here the week following the interview.

About Alan Beaulieu:

One of the country’s most informed economists, Alan Beaulieu is a principal of the ITR Economics where he serves as President. Since 1990, he has been consulting with companies throughout the US, Europe, and Asia on how to forecast, plan, and increase their profits based on business cycle trend analysis. Alan is also the Senior Economic Advisor to NAW, Contributing Editor for Industry Week, and the Chief Economist for HARDI.

Alan is also co-author, along with his brother Brian, of the book MAKE YOUR MOVE,published in 2010. Alan has written numerous articles on economic analysis. He makes up to 150 appearances each year, and his keynotes and seminars have helped thousands of business owners and executives capitalize on emerging trends. Prior to joining ITR Economics, Alan was a principal in a steel fabrication company and also in a software development company.

 

How Safe is Your “Safe Money”?

October 3rd, 2014

With the equity markets setting record highs, many security conscious retirees and aspiring retirees are wisely repositioning a portion of their portfolios into “safer” types of investments in order to lock in some of their profits. It’s no secret that it’s difficult for these conservatively minded investors to find places to protect their principal while earning interest above money market funds. The choices are slim (there are only 3) and many may be wondering, how safe is my safe money?

Since “safe money” is only as safe as the company or entity backing their promise it’s worth examining exactly how does FDIC, insurance companies, and the Federal Government “guarantee” the safety of your money.

Read the rest of the article by clicking here.
This article was written by Rob Russell, a contributor for Forbes

Graduation Debt: How to manage Student Loans and Live your Life

September 26th, 2014

“As of August 2014 there was $1.2 Trillion dollars in college debt” –Forbes

Joining me this Saturday on Your Financial Editor is, author, journalist, and student debt expert, Ms. Renya Gobel You can listen live from anywhere Saturday morning 9/27 @ 8am on AM 930 WFMD by logging ontowww.wfmd.com and clicking the listen live button! Can’t make it? Don’t worry, our shows are recorded and you can listen to them here the week following the interview.

Renya Gobel

Reyna Gobel is the author of “Graduation Debt: How to Manage Student Loans and Live Your Life.” Renya is a journalist and author who has written for Forbes, U.S. News & World Report, and Mint.com. She’s been quoted by Money Magazine, Real Simple, and The Washington Post. Her financial advice appears on Wise Bread’s New Graduates Help Center. The book is divided into small, easily digestible subsections geared toward helping borrowers improve their overall financial pictures. Readers are encouraged to take action steps, so by the end of the book they will be on the road to financial stability.

Graduation Debt

Graduation Debt the 2nd Edition is updated with information that reflects the myriad changes in the student loan industry that affect students and their parents burdened with student loan debt, CliffsNotes Graduation Debt, Second Edition provides a step-by-step road map for effectively managing student loan debt and having a successful financial life.

Reyna Gobel has accumulated tens of thousands of dollars in student loans, recovered from student loan default, and set herself on a mission to help others who face a seemingly insurmountable student loan burden, with a powerful message about taking a step-by-step approach and not being overwhelmed by the sheer weight of student loan debt.

You can also visit her web site at graduationdebt.com!

Source: Amazon, graduationdebt.org