Posted May 16, 2009 - 12:23 by Xin Lu
Personal Finance, Shopping, Credit Cards
I am sure you have encountered a store or gas station that has a set of prices for cash customers and a set of prices for credit card customers. Usually the credit card customer has to pay a small surcharge. Under a new measure being considered in the U.S. Senate, retailers may be given the go ahead to give more discounts to cash paying customers. Would this encourage consumers to ditch the plastic?
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Posted January 19, 2009 - 13:39 by Xin Lu
Personal Finance, Investment, Real Estate and Housing, Food and Drink, Lifestyle
Recently I read an enlightening story in the New York Times about the Pu'er tea bubble in Yunan, China. The burgundy fermented teas fetched prices of $150 a pound at the peak, but now sells for less than a tenth of those prices. I have actually been to one of those tea houses in Yunan, and I have also seen the rise and burst of the housing bubble in America. These experiences make me think that there is a certain formula to creating a speculative bubble out of anything, and here is what I have gathered.
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Posted January 9, 2009 - 02:23 by Xin Lu
Personal Finance, Frugal Living, Shopping, Consumer Affairs
Recently the Consumer Product Safety Improvement Act is making headlines because it required that all products (including clothes) made for children 12 and under be tested for lead and a unpronouceable toxic plastic additive called phthalates. Additionally, retailers must check that their products were not part of a recall. What does this mean for your everyday life?
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Posted January 8, 2009 - 11:18 by Paul Michael
Frugal Living, Life Hacks, Deals, Food and Drink, Consumer Affairs
Did you know that your local TV and radio stations regularly receive gift certificates as “payment” for air time? Believe it or not, retailers and restaurants are actually exchanging hundreds of gift certificates for exclusive air time on the networks. Then, the stations turn around and sell those certificates to viewers for half-price. They win. You win. And I’ll show you where to find them online.
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Posted November 25, 2008 - 15:17 by Xin Lu
Personal Finance, Credit Cards, Consumer Affairs
Today a new rescue program called the Term Asset-Backed Securities Loan Facility (TALF) was announced by the Treasury and Federal Reserve to support owners of securities backed by credit card debt, student loans, auto loans, and loans approved by the Small Business Administration. Supposedly this initiative will free up consumer credit, but the question is, are we really in need of more debt right now?
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Posted October 20, 2008 - 13:48 by Xin Lu
Taxes, Consumer Affairs
2008 will probably go down in history as the year of bailouts, crashes, and meltdowns. Here is a quick run down of all the laws and bills congress pushed through with lightning speed in this election year. With two months left in the year, we may see some more bailouts and stimulus packages to come.
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Posted September 11, 2008 - 17:51 by Xin Lu
Frugal Living
A new article on Slate today details a study by some economists that say people should enjoy their money while they are still healthy and young. The conclusion of their study is that money buys less happiness when you are in ill health so spending money while you are healthy gives you more happiness value for your money. So should your abandon frugality for the sake of your happiness?
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Posted July 23, 2008 - 16:21 by Xin Lu
Personal Finance, Consumer Affairs, Real Estate and Housing
The United States House of Representatives just passed a massive mortgage bailout bill that includes many changes to the Federal Housing Administration and the Government Sponsored Enterprises. One particular change in the bill is that seller-funded down payment assistance through a third party is now prohibited in obtaining FHA loans. This in direct response to the unscrupulous behavior of many seller funded down payment assistance charities that sprang up in the past decade.
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Posted July 8, 2008 - 12:46 by Xin Lu
Personal Finance, Investment
Today the troubles of IndyMac bank was splashed in the headlines. Its stock has fallen to nearly $0 and depositors are making a run at closing their accounts. IndyMac has been consistently been paying one of the highest CD interest rates in the nation, and it is a prime example of a financially weak bank that offers high rates to attract new deposits.
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Posted January 7, 2008 - 20:52 by Paul Michael
Extra Commentary
I like to keep up with all the latest news and info. I'm a big fan of Digg, BBC news, NPR, CNN, all the usual suspects. I thought I was fairly well-versed on the places to get my information and keep me "in the know." Then a friend of mine came over to visit from England, and he gave me a gift. It was a stick of deodorant that contained no harmful heavy metals. When I asked why, he said "what, don't you read News Target?"
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