Critique Of The Federal Reserve Podcast

This is the Jelani P. Goodwin review of Ivona & Corina's Podcast

The content of this podcast is extremely good. Ivona and Corina both successfully demonstrated their vast knowledge of the Federal Reserve System. They seemed to have followed the guidelines set by Mr. Moloney when he assigned this project, so that part clears out. They even added a bit more information that was requested, which is a way better job than mine. The quality of their recording isn't that bad either. It is completely understandable and able to be heard.
Both girls seemed to have searched a lot more than a select few in the class including myself, because they had a lot of good pictures, and not just "pictures to fill space" but actually relevant photos. Their style of podcast follows the type of the "student asking for help with a topic" style, which is the same that my partner and I used. It is basic podcasting at its finest. If one was to simply watch and listen to these girls' podcast, they would be educated enough to have more than a general understanding of the Federal Reserve System.

Compound Interest & The Rule Of 72

Well, first off, Compound Interest is the act of interest sort of "piling up" over time. For example, should you deposit $100 in the bank, with a 10% interest rate. Next year you'll have $110 in the bank right? Now the following year your investment will be $121 because your interest rate gave you 10% of the previous year's interest, so it was COMPOUNDED. Now that this has been explained, the next thing I would like to get into is the Rule of 72. At first its principles were a bit unclear to me, but now I understand them. The Rule of 72 is used to determine the time in which your deposit will be double of the amount you put in. An example of this would be, if you put in a $100 deposit with an interest rate of 9% a year. Using the rule of 72, [72/9=8] it would take 8 years for the $100 to become $200. That's about it.

Insider trading scandal

There was a major insider trading scandle uncovered recently. A group of employees working for U.S. top banks were charged for insider trading, which dated back to the '80s. In addition, they were accused of using information and blackmailing to make millions of dollars. This case involves over a dozen people and four major Wall Street investment banks. About 8 million dollars were found from the accused. In all, 13 people have been arrested in the criminal case. This is one of the biggest wall street scandals since the 1980's.

Dow down 416 pts! - Why?

The stock market took a dramatic blow a few days ago. One of the more primary reasons for this is because of the even more dramatic 9% drop in China's economy, which in the long run affected the global economy, therefore affecting us. Another reason, is that the stock market hasn't had an extreme drop like this since the time of the World Trade Center attacks. After doing good for five straight years, with little drop, it is only natural that the stock would cave in a bit sooner or later, it's just unfortunate that it had to be combined with the global economy drop from China.

Types of Economic Systems

Traditional Economies: Traditional Economy is the system that involves resources that are accquired through inheiritance, and also has strong social networking.
Centrally Planned [Command] Economy: The economy system that involves the state or government controlling the factors of production and the decisions made about their use and distribution of income.
Market Economy: Market Economy is the economy system in which the elements controlled by the state or government in a Command Economy are determined by the use of free markets and guided by the Free Price System. The production in this case is determined by the businesses and consumers.
Mixed Economy: Mixed Economy is an interesting economy system. This is simply because it takes "the best of both worlds" and combines them by adding elements from both systems into one.