August 20, 2017

Archives for February 2013

Why are so many people financially illiterate?

A recent article in the Economist (16th Feb) asks this question. The article relates how many people can’t work out the interest on a savings account. Does this matter? What are the consequences of financial illiteracy? Well individuals will not plan effectively for known events, such as retirement, or university education.  And with governments around […]

Currency Wars

  Venezuela announced a surprise devaluation of the bolivar on Friday (8th Feb).  This coincided with a holiday weekend in Venezuela, so workers and companies will have to deal with that shock on Tuesday.  The devaluation was from 4.3 bolivars/$1 to 6.3 bolivars to $1, a devaluation of 32%.  This is Venezuela’s fifth devaluation since […]