I don’t want to place any needless pressure on you, goodness knows you probably have enough to deal with but the economy’s health lies directly in your path. It’s consumer spending that has pushed our economy forward in the past and I don’t see how the dynamics of this economic effect has changed today. Some economists believe that up to 70 percent of our economic strength is based on how much the American consumer spends at the local mall. I know that’s difficult to believe but facts are facts. On top of that, consumer spending has been creeping higher as a segment of the total economy sporadically over the past few decades through the assistance by easy credit. Those days are gone but the need for consumer spending remains. That’s where we are today.

If Americans spend – business grows. It’s that simple. The problem is consumer confidence has been so weak because millions are out of work, prices at the pump and grocery stores are eating away at disposable income, the U.S. continues to struggle with debt, and the banks aren’t lending. I know I’m preaching to the choir but what’s it going to take to start moving forward again? Sadly, there are few options today.

Frankly, about the only thing that has supported our economy recently has been unemployment benefits, which places us in a very miserable state. A recent report from the Congressional Budget Office revealed that every dollar that is spent from unemployment benefits puts $1.90 back into the economy. But now Congress is considering cutting that back, as well, which can only exacerbate the situation. Makes no sense to me.

Cities and states are going through very difficult times in part because the crumbling housing market has wiped out a good portion of the property tax dollars they had counted on for support before the housing market imploded. Today, thousands of houses stand empty and do not generate the necessary dollars these government institutions had come to rely upon over the years. So, even the municipal and state governments are being forced to shrink their employment rolls and services which has added more pain to an already agonizing situation.

Other large industrialized nations don’t depend quite so much on consumer spending but rather on government subsidies to keep running. If things don’t change soon, that just may be what happens in the United States, which will no doubt lead to higher tax rates for all of us. As an entrepreneur, I am certainly not advocating that but when you examine the total economic package we are dealing with today, there may not be another answer.

The Internet has never been totally anonymous based on the IP address read by the sites you visit. But the ways in which you send emails to friends and associates or conduct business (online banking, bill pay, etc.) allows for some anonymity today to protect personal security and, as some advocate, freedom of speech.

Randi Zuckerburg, marketing director of Facebook (and sister of Facebook’s founder Mark Zuckerburg) recently took part in a panel discussion on this topic and said she believes that Internet users should not be allowed to hide their identities when using the Internet. She told the panel, “I think anonymity on the Internet has to go away. I think people hide behind anonymity and they feel like they can say whatever they want behind closed doors.”

Remember when you signed up for your first email account, you had to come up with a name you would use. Some people actually used their “real” names without thinking twice about it but, I think you’ll admit, most people developed some type of anonymous Internet pseudonyms (something like PapaBear44@InternetSite.com) to hide their personal identities to everyone but friends and families.

The former head of Google, Eric Schmidt, also believes Internet anonymity is a real threat and called it a “dangerous” problem and, in his view, something the government will eventually be forced to regulate. As a matter of fact, Google was criticized recently for a policy that insists that individuals use their “real names” on their new Google+ social media website. There is evidence that a number of Google+ users, who used a traditional anonymous Internet name rather than their “real name,” not only had their Google+ account cancelled, but all associated Google accounts closed for failure to maintain the policy of using actual names. Google apparently is taking this very seriously.

Those who advocate full disclosure on the Internet are insisting that more online abuses and illegal activities are definitely possible because people are currently able to conceal their identities behind these non-descriptive Internet monikers. Proponents of a full disclosure policy on the Internet believe that anonymity allows criminals and sexual predators to more easily stalk their potential victims. By hiding their identities they can easily and “innocently” gain access to chat groups that protect the identities of their members thus making it easier for criminals to target their victims over the Internet.

Privacy is an issue that we tend to guard with all of our might. So many personal records today (banking, medical, personnel) are transmitted over the Internet and, I believe, should be guarded and genuinely protected. Law enforcement and government agencies also must maintain a semblance of privacy to keep information away from the “bad guys” and secure local, state and national security.

Keep this in mind. If Internet anonymity is critical to you, there are ways to protect yourself. You might want to consider disabling the “cookies” settings on your computer. Cookies are text that is sent to the browser about the Internet sites you visit. This information is stored by the server and sent back to the site each time you enter the site. Cookies also contain important information like passwords and login information that are considered a privacy risk by most Internet users. There are a number of web browsers that will automatically delete all cookies when you close your browser. Might be a good idea to find one.

I am certain that Internet anonymity will be a topic of discussion for many years based on the massive growth of social and business Internet sites like Facebook, Google+, and LinkedIn, which are specifically designed for the exchange of information; sometimes very personal information. Consider this, if you were walking through a “dangerous” part of town you would probably remain very aware of your surroundings. The same applies to the Internet; just be careful of the information you provide on the Internet to maintain as much personal security and privacy as possible.

But it’s more than that; although the idea of Internet anonymity may protect us from possible personal hazards, this idea will also diminish our personal freedoms guaranteed by our country’s most cherished documents (the Declaration of Independence and the Constitution) which have formed the values of the country we live in today. We are a country that prides itself on hundreds of years of freedom, among them freedom of speech. It’s a very hot topic to keep your eye on in the months and years ahead.

Look, just going to job fairs and sending your resume out over Internet probably isn’t going to be enough. You may have already discovered that hasn’t worked for you. So, what’s next?

I have spent many years developing a brand for myself and that has helped me develop my business and myself. There are a variety of ways to do this – some easy and some very difficult and expensive. You should start by creating a personal “commercial” that describes you and your skill sets. By commercial, I mean write a rundown of who you are, what you do, and how you can help any potential employer. It’s that easy but be brief and only state facts and specifics.

For instance, if you are a career sales professional be very specific about past employment and how you helped previous companies attain success. Tell them about how you increased sales 52 percent in your first year on the job. Mention how many individuals you supervised and how you were a mentor to the sales staff, which helped them develop their skills, thus adding to the company’s bottom line three years in a row. That’s about 30 seconds. And if you present yourself confidently, they’ll have no choice but listen to you.

Now that you’ve developed a personal brand, start building up your networking opportunities. Think about all the people you already know, do some homework, and find networking opportunities through business organizations or in your city’s chamber of commerce. You may even want to expand your job search to areas outside your town or your state. I know that leaving your current location may be a hardship, but it’s also important to find your next professional position. These are different times and you may have to do different things to find what you’re looking for. I always tell people that if you always do what you’ve always done, you’ll always get what you always got. Believe me, it’s true. I’ve done it more times than I can count.

Don’t be shy about asking business associates and friends for personal recommendations for your online social networking sites or letters that you can use for reference purposes. The more people that know you and your current situation, the faster your current situation will change. Don’t be afraid to be bold. Ask…all they can say is no but most people will be glad to help you.

Back up your personal branding with an accurate resume and cover letter. The importance of your personal documents cannot be understated. Many companies today will not accept “walk-ins” and solely use your resume to make their hiring decisions; that includes private industry and government agencies.

I understand that you are going through an extremely difficult time right now. Emotions are running high and it’s probably difficult to maintain a positive attitude from day-to-day. But it has never been more important to do so. Do your homework everyday and remember that your job right now is finding a job. Get up every morning and get busy locating your next position. It will come but in the end, it’s all up to you. Remember, be aggressive and be positive. Today is the day to start making yourself the top candidate. Once you do that, the next job is sure to come.

Basically, a DIL allows the homeowner to voluntarily transfer the ownership of their property to the mortgage holder in exchange for a release from the mortgage loan and payments. This is becoming a popular tactic by the banks because there are just so many foreclosures across the nation. Plus, if the mortgage holder can avoid foreclosure hearings, they save tons of money in the legal process. So, the DIL has become an alternative to foreclosure and seems to be a win-win situation for all parties.

Homeowners who might be interested in this process versus foreclosure, must qualify prior to approval. You can qualify if you:

Are ineligible to refinance or modify your current mortgage,
Are currently behind in your mortgage payments,
Owe more than the home is actually worth,
Haven’t been able to sell your home,
Are going through a hardship (like the loss of job, divorce, or medical emergency)
Can no longer afford to live in your home and are prepared to leave, since the process must be completed within 90 days of initiation).

This is, by no means, the comprehensive listing of qualifying factors for a DIL, so you’ll need to talk to your mortgage holder to see if you qualify. A DIL is less harsh than a foreclosure on your credit report too. It all depends on your mortgage holder. There have been times where a mortgage holder has reported a borrower’s mortgage paid in full following the DIL process. That’s a question you would need to ask your mortgage holder prior to processing the DIL. Regardless, the DIL is less harmful, in many ways, than a foreclosure and you can expect, at least, a “grey” mark on your credit report versus the “black” mark a foreclosure is sure to cause.

And here’s something I bet you would have never thought of; a DIL, in some cases, qualifies you to receive a relocation allowance from the mortgage holder after the process is competed. It just happened to someone I know. There are some mortgage companies that are assisting homeowners after a DIL by providing them with $3,000 for relocation expenses. The homeowner can use this money to pay for moving expenses, make a deposit on a home or apartment rental, or just put it in the bank for that proverbial rainy day. All you have to do to find out if your mortgage company offers such a benefit is to ask them.

This is a program that is definitely an attractive alternative to foreclosure and troubled homeowners should immediately approach their mortgage holders to see if they qualify for this program. The one thing that hurts the homeowner is waiting too long. If you are days away from an auction where it would be easier for the bank to dispose of the liability in that manner, you’re probably out of luck. So before you get to that point, be proactive and approach your mortgage holder to find out whether or not you qualify for a deed in lieu of foreclosure. It just might be a better option for you.

There are many key forces that can help you design and build a business that is not only profitable but will also offer your specific customer base something it can use or want. Consider your personal interests before deciding on the eventual product. For me, it was trading and teaching people the intricacies of trading various financial markets, specifically the Foreign Exchange. It was something that interested me considerably and it allowed me to develop a business that people from around the world could use to increase their quality of life by becoming successful traders.

Planning will encompass a lot of things. Creating a business plan that maps out your company’s structure, financial assets and liabilities, the values and standards that your company will embrace, as well as your vision for the future. This is by no means a comprehensive list of what to include in a business plan. Study the methods of putting a successful plan together; perhaps find others who have already done so and personalize their methods by creating an exclusive corporate direction that would work best for you and your company. Business owners who can plan for short- and long-term events and goals are also more likely to succeed. Consider how you can make a distinction between your products and services from those being offered by your competitors. An effective entrepreneur must be proactive, inquisitive, and totally dedicated to the job at hand; traits that will offer a better shot for future success.

Having said that, remember it’s your personal interests and passions that will guide you when deciding what your entrepreneurial venture will look like. Maybe you’re an expert at bookkeeping or perhaps you love to cook. As long as you are passionate about your product or service, you will have a much better chance of success than you would if you were lukewarm about your business. You have probably heard it said that if you enjoy what you do, you will never work another day in your life. If you enjoy something, you’re more likely to stick to it and put in the hours necessary to make a real attempt to build a new and successful venture. Make no mistake about it, you will have your problems and you will experience ups and downs along the way but never give up. There is nothing more rewarding than doing something you enjoy, while helping others through your unique product or service.

Let me finish as I began – planning and passion are the keys to making sure you get your entrepreneurial efforts off to a positive start. Without those two traits you may as well not even begin. So, look deeply into your personal desires, goals, and abilities and start moving forward with your plan. Small business runs the economic engine of this country; your planning and passion has never been needed more than it is today. I wish you all the best at your future success.

In this time of war around the world, many of our military forces are on their fifth or sixth tours of duty overseas on very dangerous fields of battle. The sacrifices that our military families endure are enormous. These very special individuals must suffer long periods of separation, unspeakable danger, and, in most cases, inadequate pay. Today they are experiencing another hardship upon their return from overseas duty – the lack of employment.

Upon their return, many military members have been finding a higher-than-average unemployment rate and a tough time transferring their military skills to the private sector of American business. And as more military veterans look for employment jobs after returning from the wars in Iraq and Afghanistan, the job market still doesn’t offer much hope. There is a positive side to all this since the military itself offers separating military access to programs that can help them transition into the civilian work force. But a slow job market and an overabundance of military talent trying to find jobs are over tasking these programs.

Those Reservists and National Guard members due have federal law on their side. Upon return from military service, The Uniformed Services Employment and Reemployment Rights Act (USERRA) is designed to help Veterans regain the positions they were forced to leave in order to serve the nation’s military force. But sadly, with the downsizing of America’s business community, many vets are returning to find the company they left is now out of business and the job they once had no longer exists.

Employers have differing attitudes about hiring military veterans. Some businesses see veterans as the ideal candidate because of their proven leadership skills. But others are unenthusiastic to hire returning military members; concerned that former military may be too inflexible or that they might bring unwanted baggage with them, including mental or physical problems. I urge businesspeople across the country to seriously consider rewarding our returning military troops with honor, reverence, and jobs. You will never find better employees – people who are dedicated, responsible, drug-free, educated, and reliable. Hire the military and respect them every day for their selfless service to this nation.

I am writing this from personal experience because I was once a member of our country’s gallant force of the U.S. Armed Forces. I know first-hand the rigors that they and their precious families must live through in order to endure a military lifestyle for our sake. Now that I am no longer on active duty, I still feel an commitment to continue to serve this nation by helping these exceptional people in any way I can. I hope you will too.

For the first time since September 2008, oil prices rose to reach levels of over $ 110 a barrel, due to the continuing tensions in the Arab world and after a good indicator in the United States. On the New York Mercantile Exchange (Nymex), a barrel of light sweet crude for May delivery finished 110.30 dollars, which was up $ 1.47 from the previous day. Libya is the 16th largest global producer of oil in the world. This one nation that has been in unrest for weeks now, was responsible for about 2 percent of world oil production, which is about 1,600,000 barrels per day.

Other major oil producers are also in turmoil. Both Yemen and Bahrain are big oil producers — but far smaller; Bahrain pumps approximately 45,000 barrels per day; and Yemen just 260,000.

And according to one gas price expert, Trilby Lundberg, gas prices at the pump could hit five dollars a gallon by Memorial Day. The Lundberg Survey, an independent research marketing group that focuses on the petroleum industry, reported on April 11th, that prices jumped 20 cents during a two week reporting period to a nationwide average of $3.76 a gallon.

Lundberg’s survey, showing gas prices on the increase and the harsh impact prices are having on American households from coast-to-coast, is concerning. Many are worried about how gas prices will influence the economic health of the country. If people pay more at the pump there will be less disposable income for them to share with the national retail community and that has them nervous about sustaining sales that will, in turn, push their earnings and the U.S. economy in a positive direction.

Then there’s the question of future inflation. A weak dollar will affect everything from our exports to how much we, as a population, will be able to spend. A recent report showed grocery prices increasing 6.5 percent in March from early January. In the report, Consumer Growth Partners said the increase in food prices was the “sharpest in a generation.” A 25 percent increase in gas prices this year has joined higher food prices, which pulled $18 billion out of the monthly household spending on discretionary items. If the consumer doesn’t spend, the economy goes nowhere.

On top of all this, claims for unemployment benefits unexpectedly increased above the key 400,000 mark recently. Like I said at the beginning, times are still tough and because of a number of issues that are not being resolved, the current situation is likely to remain so for quite a long time. Even though the government announced a few years back that the recession officially ended, it’s evident that millions of people remain out of work and that’s a reality for them and their families. In order to fix the problem, people must directly reconnect themselves to the economy but as long as they continue to lose their homes and are unable to find suitable employment, the possibility of that happening is nearly impossible. Not because they don’t want to, but because they just don’t have the disposable income to do so.

I have spent a tremendous amount of time over the last few months researching the forex brokers. I want to share what I have learned and how to better combat some of the tactics that brokers take to help them insure a better bottom line.

Let me just say, that I still love trading the Forex market. I think it is a great place to build a profession. The Forex market is still the largest financial marketplace in the world. To help insure that you are one of the successful traders in this marketplace you will need to start considering some positive steps.

I would first start out by calling your Broker, ask them if you are on STP, Straight thru Processing. You want to make sure that your broker is not trading against you. I would send them an email to make sure that you have whatever they tell you in writing. What you will more than likely get from your broker is Bla Bla Bla-meaning “We don’t have a dealing desk” – Well all you have to do is call your broker tell them you would like to talk to the dealing desk to place a trade. Guess what? Bet you get the so called nonexistent dealing desk.

Just because they say they don’t have a dealing desk doesn’t mean they don’t have one. You just have to ask them to put it in writing that they have your account on STP, if they won’t find a new broker. When I Was introducing customers to the Forex Brokers I asked that my customers be put on STP, I even had the broker put in writing that my customers were on STP, Again not to beat this point to death, but you can only do what you can do, just get in writing that your broker is using STP for your account. You do not want to be associated with any sort of aggregated orders.

Also take special note when you are trading as to latency-How slow your order is filled, slippage, whether you get the price for your buy or sell that you executed the trade at, or error messages. Any and all of these and others could be an indication that something is wrong, that the broker could be trading against you. Even if they tell you that your account is on STP. Even if the Broker says they don’t have a dealing desk. They could have just simply removed the vocabulary word dealing desk and replaced it with a “server” automation of sorts.

To not sound so negative you can still trade this market and find good brokers, there are lots of traders that make money trading Forex. If you want to be one of those traders then you need to become aware and understand the Forex market place, recognize that the Forex brokers are in business to make money. Then arm yourself with all the knowledge tools and strategies you can to place solid trades.

Watch for my next blog on more strategies to help you place better trades and beat your broker.

Happy Investing-James Dicks

Here lies the issue at hand. If you have a new car, we all know that as soon as you drive it off the lot you will suffer 20-30% depreciation on the value of your new vehicle. Thus one of the reasons you will find the strategy to buy a two year old vehicle in several of my books. I like new cars and I have new cars, but I also use leases to my advantage, and I also buy used as well.

So back to my buddy, he was in an accident where someone hit his new truck. Insurance will cover the damages but what about the fact that his new truck now has a negative carfax, a history of repair and accident that will affect the long term value of the truck even after it is fixed. That is unfortunate and in most cases people just take it for what it is and move on. Later down the road a few years when they try to sell the vehicle the accident comes back to haunt them and the seller of the vehicle will suffer monetary loss because of the previous accident. The accident simply lowers the long term value. So what can you do?

Well you can buy Gap Insurance which will cover the difference in your new vehicle when you drive it off the lot and remain in effect until your car is worth the same or lower than your loan payoff thus the “GAP” or you can file a diminished value claim against your insurance company. I would suggest that if you buy a new vehicle that you look into gap insurance, some policies have it included and others you will need to add it on. Keep in mind that you can get Gap insurance at many places not just thru your insurance company and certainly don’t take the Gap offered by your dealership when you buy your new vehicle. There are also alternatives to Gap insurance such as new car payoff options etc, you can discuss with your auto insurance company.

Since my buddy is filing a diminished value claim let’s look at what and how the claim works.
Let’s say you are like my buddy and were in a recent accident with your vehicle. – The first thing you are going to do is file a claim with your insurance company for the damage to the vehicle – The initial claim will only cover your damages minus your deductable of course – But what about your Diminished Value, this is going to be what your new vehicle is worth if you sold it now with the repaired damage vs selling the same new vehicle now with no damage. You need to be familiar with the three (3) types of Diminished Value . . .

1.   Immediate Diminished Value is the difference in resale value of a vehicle immediately before damage has occurred and immediately after damage has occurred (prior to repair). Most jurisdictions (courts) will use this standard as the primary measure of damage when courts are employed to seek reimbursement for damage from a negligent party. As courts are rarely the chosen venue for recovery of property damage, the standard of “Immediate Diminished Value” is rarely employed in resolving Diminished Value Claims . . .

2.   Inherent Diminished Value assumes optimal repair quality has been achieved and is defined as the amount by which the resale value of a repaired vehicle has been reduced simply because the subject vehicle now has a significant damage history. “Inherent Diminished Value” is the most widely recognized and accepted form of Diminished Value. It is also the basis upon which any supplemental form of Diminished Value would be added. A common “Supplemental” form of Diminished Value is “Repair Related Diminished Value” . . .

3.   Repair Related Diminished Value includes any additional amounts by which the resale value of a subject vehicle may be further reduced because of less-than-optimal repairs. This could include anything from minor cosmetic imperfections to major structural defects.

Determining diminished value takes basic common sense, the newer your vehicle the more likely the value would be diminished if it were in an accident. If you find yourself in a position that you think you may be looking at a diminished value situation, you will need to find a D/V appraiser, this type of appraiser has really taken off recently but you will need to be careful as some of them are not as professional as others, you may just want to ask your insurance company for the name of one that they recommend.

Do not fall prey to contingency type diminished value companies. These companies will tout that they can get you money from the insurance company for the vehicles diminished value on a contingency basis, meaning that they take their money out of the claim when paid by your insurance company. There are numerous scams out their reported with this type of business activity so just avoid them.
If for some reason you have difficulty with trying to collect on a diminished value claim from your insurance company you may need to find an attorney to assist you with the claim, in most cases your attorney fees can also be incorporated into the claim.

If you don’t receive your diminished value claim or as much as you feel you should have you still can recoup some of the loss on your taxes, Please take note that in no way do I offer tax advice, nor am I a tax attorney, please seek professional tax advice when doing your taxes.

IF you itemize your deductions, you can use Line # 19 of Form 1040 – Schedule “A” to deduct your unrecovered Diminished Value. If you have an unrecovered Diminished Value of say $ 1,500 and a tax rate of 20%, you can Reduce Your Tax Obligation by almost $ 300.00.

Yet another financial strategy that can be used to help you and your family achieve the financial success you deserve.

Happy Investing!

James Dicks

Some people don’t seem to have this instinct at all, and this doesn’t bode well for the long-term health of the American economy. Just in the last two years people have started to really slow their spending down and foremost their spending on credit. It may have a negative effect on things for now, but in the long run we will be far better off.

(We have the lowest savings rate of any developed nation, which is a worrisome thing.) But the rest of us experience this self-protective instinct to put something aside for a rainy day. For some people, this means setting aside a small amount of money for less fortunate times. For still another group, the fear becomes extreme—even irrational—and leads to the unnecessary hoarding (and often counting) of money.

For me having to review this lesson is key; even writing it makes me think. My first time out I made lots of money, but I was over leveraged and in the end lost everything and had to start over again. The second time around I was not as over leveraged and saved money for a rainy day, problem is it seems as though it has been raining for a long time. However saving money for the rainy days has proven to be very wise. The next time around, I plan on having zero leverage, and living completely debt free. That is really the key to success, eliminate the credit and live on what you make and save, use a debit card instead of a credit card.

Let’s acknowledge first that saving money for the future is important. Having said that, the inevitable question that follows is, how much is enough? Setting aside a little money isn’t difficult, but since small amounts can seem so insignificant, it’s easy to lose the discipline to continue. But it is that very discipline that makes saving work. Well, discipline combined with the almost magical power of compound interest.

Compound interest is the key to building wealth. Simply put, it means investing some money, earning interest on your investment, and then leaving both the interest and the principal in place so that you begin to earn interest on your interest (as well as on your principal).

In other words, first your original money earns money, and then the money your money has earned earns more money. This goes on year after year. After years of compounded growth, the annual earnings reach an acceptable level. Eventually, if you’re original investment was large enough, if your rates of interest were competitive, and if you wait long enough, your nest egg will grow large enough to produce an acceptable outside income.