Well, the vacation is over.

We came back to the city on Saturday. On Sunday, cars rolled in all day long – piled with bicycles, beach towels, and all the paraphernalia of summer.

Walking to work, we saw a mother on a bicycle with her daughter behind her. The little girl was probably about 3 years old, still sucking her thumb. The mother had come to a stop in front of a nursery.

We read the whole story in the little girl’s face. She looked as though she was about to cry. Big eyes rolled up towards her mother…still sucking her thumb. Her mother reassuring it.

She had spent the vacation with her family. But now it was time for her mother to go back to work…and the little girl to go back to the nursery. Poor little thing…

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“Few Californians in the private sector have $1 million in savings, but that’s effectively the retirement account they guarantee to public employees who opt to retire at age 55 and are entitled to a monthly, inflation-protected check of $3,000 for the rest of their lives.”

~Arnold Schwarzenegger in yesterday’s WSJ

Investment banking is not an exact science. At its most basic, investment banking is a balance between risk (e.g. stock crash, bank failure) and reward (e.g. return on investment, annual percentage yield). This basic understanding has led many people, anxious to find a predictable investment, to turn to bonds. They think that because a bond has a listed maturity and return that those figures are stable and dependable; however, investment banking is more complicated. Interest rates must also be accounted for.

The value of a bond will actually go down as interest rates go up. On your monthly statement, you will still see the return as promised but the actual value of the stock will go down; this rule holds true whether your own individual stocks or interest in a bond fund.

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This week’s news brings interesting implications for consumer finances. First we learned that existing home prices have slumped to record lows, which has the media buzzing about the “new role” of owning a home. The new role is that our homes no longer function as limitless ATM machines. No more buying electronics, recreational vehicles, jewelry, and designer wardrobes with home equity loans and lines of credit. Under these circumstances, it appears that consumers would again turn to credit cards for the instant gratification of discretionary purchases. No way. Americans may finally be getting the message about the high cost and consequences of carrying high credit card debt.

Federal Reserve: Credit card debt decreases for 21st consecutive month

The Federal Reserve reports that credit card debt levels are continuing to fall, and that average credit card debt for individuals has fallen to $4951 as of June 30. This

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Both the gold stocks and Silver had big 3% gains today. As you can see from the chart below, both markets are nearing a test of 2008 resistance.

A move past the 2008 highs would be an important breakout. However, it is important to note that in both Silver and various large-cap gold stock indices, resistance actually dates back to 1980. For the gold stocks we are looking at a potential breakout from a 30-year base, while for Silver, we are looking at a potential breakout from a 29-year base.

Ladies and gentlemen we are looking at the inception of a historic move in precious metals and precious metals companies. Don’t believe me? Consider that at the end of 2009, 0.8% of global assets were in the precious metals complex. Folks, this was above 20% in 1981 and over 30% in the 1930s. D

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It means savers who want the only standard account that guarantees to more than match the rise in the cost of living must rush (see the Top Savings, Cash Isas and Isa Transfers guides).

The deadline also applies to existing customers who want to deposit additional cash (see the Inflation-beating savings revived MSE News story).

NCBS says it has been forced to close the account due to an “overwhelming response”.

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The EUR/JPY is in a steep decline as equities continue their slide. Deleveraging and risk aversion continue to be the name of the game as we see 10-year US Treasury yields hit 2.575% and no inflation is in sight. The pair is now at levels not seen since 2001, which is significant as that was the year that began a 7-year housing bubble in the US (as wll as the economy as a hole on record low rates,) at that point the price of oil also started it ascent to the 2008 all-time highs and the USD went offered as the Euro became a currency for diversification away from the Dollar for some. The monthly chart below allows one to view the full scope of the appreciation in the pair for the first 7 year in question and its quick descent over the last 2yrs.

First I’ll tell you how to get a job by volunteering, and then I’ll share two real life stories.

1. Determine your dream job.
2. Once you know what you really want to do, start looking for a company where you can volunteer.
3. Contact the person who oversees the department and ask if they could use a volunteer. One thing to keep in mind: Remember that this shouldn’t specifically be a volunteer position. For example, non-profit companies are always looking for volunteers to help with their clients in various capacities. They are not normally looking to hire a person to do specific work.
4. Once you get the volunteer position, treat it exactly like a real job. Dress

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