Economics is often referred to as the dismal science because the predictions by economists are often … well, dismal. The failure of economists to spot the incredible credit bubble developing and to take action against it is one of the latest in a long line of failures for economists. The inability of economics as a profession to accurately predict the current situation and to increase standards of living of people through an efficient allocation of the means of production has been going on for decades. Read the rest of this entry »

Your credit score is an important factor in determining how much money you can acquire from lenders. Your credit score is determined from your credit report. When your credit report is formulated it will be assessed and analysed to determine your overall credit score. A high credit score reflects favourable on you and will allow you to easily obtain credit, while a low credit score will be to your disadvantage and will lower your ability to borrow. If you have past instances of not paying debts or being consistently delinquent in making payments then this will be reflected on your credit report and thus lower your credit score. On the other hand, your credit score will be much higher if you always paid your loans on time and ultimately cleared any previous debts. Read the rest of this entry »