The rate of borrowing by Americans declined for the first time in 10 years during August, a sign of building stress on household finances.

Consumer credit outstanding decreased $7.9 billion in August to $2.577 trillion, according to a Tuesday report from the U.S. Federal Reserve. That follows a $5.2 billion consumer credit increase in July, which [...]

Following Iceland’s banking meltdown, international financial markets have identified Hungary as another country potentially at risk of a crisis. Hungarian central bank governor András Simor spoke to Journal reporter Marcus Walker about why he thinks the market’s fears about Hungary are wrong.
WSJ: How vulnerable is Hungary to the global financial turmoil?
SIMOR: This crisis has led [...]

Senior citizens have been hit pretty hard in recent months, as those invested in stocks feel the sharpest pain in retirement accounts and those living on fixed incomes have dealt with spiraling inflation costs, but today it looks like they may have gotten a small break.
 
Social Security lovers will getting a bigger cost of living [...]

In the question and answer period that followed Ben Bernanke’s speech today to the Economic Club of New York, the Federal Reserve chairman answered questions on why Lehman Brothers was allowed to fail, whether home prices are the root of the current problems and more. (Read the full transcript here.) Here are some highlights:

Bernanke speaks [...]

The American public’s mood is among the darkest in the past 40 years as voters remain pessimistic about their personal financial state and blame everyone within range for the financial crisis.
The latest Journal/NBC News poll shows voters’ economic worries boosting Sen. Barack Obama as he widens his lead over Sen. John McCain, 49% to 43%. [...]

Demonstrate that no external permission is needed to solve these issues?
Take responsibility for running to Mr Success for “easy money”?
Prove that you’re not pissed just because you didn’t have the chance to stick it to the man before he did it to you?
Realize maybe (possibly/one-in-a-million) that “There but for the Grace of Her” you’d have [...]

I was born in 1959 on a Royal Canadian Air Force station, CFB Sennetiere, Quebec where my dad was stationed. He was a Chief Warrant Officer and made 22 Atlantic ocean crossings during WWII. They gave him an Atlantic Star.
I guess it is unusual for a non-commissioned air force officer to be given a navy [...]