finance

Creative Commons via Flickr / User: Tax Credits (https://flic.kr/p/chEwR9)

Ernest Bellamy is an architectural designer and native Miamian. At 32-years-old, he decided to go back to school to get his master's degree, but decided that even with a full ride to the University of Miami opportunities looked better outside of Miami.

He is one of the many individuals who have been affected by the prosperity gap that has grown in Miami-Dade County since 2000. That’s the overarching finding of a study we reported on when it came out from the Florida International University Metropolitan Center.

Frankie Leon / Flickr

A new study says South Floridians are swimming in credit card debt. Maybe drowning in it.

CreditCards.com, a self-described “online credit card marketplace,” looked at average debt versus median income for 25 major metropolitan areas to determine a region’s credit card debt burden.

The Miami metropolitan area had the fourth worst debt burden in the country.

State Lawmakers Want To Add Financial Education

Jan 16, 2015
Miran_Rijavec / Flickr

Lawmakers want Florida students to be smarter about their money.

They’ve introduced a bill to make a financial literacy course a high school graduation requirement.

Students would have to take lessons on taxes, compound interest, insurance, and how to weigh the cost and benefits of decisions.

The bill was introduced by Fort Myers Republican Representative Heather Fitzenhagen and Miami GOP Representative Manny Diaz.

The bill says the Florida Department of Education would choose a non-profit group to create the lessons.

twitter.com/janinewedel

01/06/15 - Join us for Tuesday’s Topical Currents, when we discuss what’s widely known as “dark money.”  These funds come from undisclosed donors and advocacy groups.  They often influence public opinion, legislation and elections.

Tom Hudson

    

It's a familiar saying among exporters -- South Florida is the shopping cart for Latin America.

From cell phones to gold, medicine to aircraft parts, it all leaves the United States from South Florida destined for overseas markets. While the pace of trade is down from a year ago, according to trade media company WorldCity, the seaports and airports here maintain a trade surplus.

helaineolen.com

09/25/14 - Thursday's Topical Currents is a rebroadcast that goes behind the scenes of the individual finance industry, with journalist Helaine Olen. She’s written POUND FOOLISH:  Exposing the Dark Side of the Personal Finance Industry.  Most well-known TV and radio experts sell dreams that are seldom reached.

Wells Fargo

A recent survey by Prudential Financial advisors reveals the Hispanic American community places a priority on funding near-term goals, making it more difficult for Hispanics to prepare for retirement.

From Oct. 28 to Nov. 18 last year, the study polled 1,023 Americans who identify as "Hispanic." It covered several financial topics and what the driving force is behind making financial decisions in Hispanic American households.

Cuba will end the two-currency system it has used for nearly 20 years. Since the collapse of the Soviet Union, Cuba has used either American currency or a peso that's pegged to the dollar alongside its national peso.

The monetary unification will phase out a system that has become a symbol of exclusivity and foreign wealth. Many products that are imported into the country can be bought only with the dollar-based convertible peso. But most Cubans are paid in the standard peso, which is worth just a fraction of the other currency.

Talk to economists about the government shutdown's impact on their forecasts and you'll hear this phrase again and again:

Flying blind.

For economists and investors, "at this moment, we are flying blind," said Alan Greenspan, former chairman of the Federal Reserve and now president of Greenspan Associates LLC, a consulting firm.

Greenspan is not alone in feeling a little lost without the compass of government reports.

U.S. Federal Reserve / Truth In Accounting

The debate in Congress over raising the debt ceiling was focused on the $16.7 trillion borrowing limit. That's a huge number that has been increasing rapidly since the Great Recession. The chart above from the U.S. Federal Reserve shows the federally reported public debt jumping from $6 trillion after the 2001 recession to almost $17 trillion this fall.  

Public Debt On TSE: Lining Up Lenders for Landing

Oct 16, 2013
Tom Hudson

The federal government may be partially shut down and flirting with an unprecedented debt default but the Broward County Aviation Department had no trouble borrowing $450 million this month.

Miami To NY Hedge Funds: We’re Ready For You Now

Oct 14, 2013
CARL JUSTE / MIAMI HERALD STAFF

Miami hopes to lure hedge funds out of New York with an updated twist on a familiar message: Come south for warm winters, zero state or city income tax and -- finally -- a downtown worthy of Wall Street’s elite.

“It’s really showing the maturity of our city,’’ said Nitin Motwani, a Miami developer and board member of the Downtown Development Authority. “The more people get familiar with what is happening in Miami — the real Miami — the more people are going to say, ‘I’m going to give Miami a shot.”

psych.princeton.edu

09/23/13 - Monday’s Topical Currents is with Princeton University Professor of Psychology and Public Affairs, Eldar Shafir.  He specializes in cognitive science and behavioral economics.   Shafir is the co-author of SCARCITY:  Why Having Too Little Means So Much.  They say scarcity predicts that daily errors are common and unavoidable . . . no matter how motivated the person.

JPMorgan Chase has agreed to acknowledge that it violated federal securities laws and will pay $920 million in penalties assessed by regulators in the U.S. and U.K. to settle charges related to the huge trading losses racked up by its London traders last year, the Securities and Exchange Commission announced Thursday morning.

As we wrote earlier this week when word of the pending settlement first emerged, this all:

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