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LEVERAGE: The use of credit or loans to enhance speculation in the financial markets. Suppose, for example, that you take the $1,000 in your bank account to your stock broker and purchase $1,000 worth of stocks, bonds, or whatever. A leveraged purchase would let you use your $1,000 to buy, let's say, $10,000 worth of stocks or bonds. The remaining $9,000 of the purchase price comes from a loan.
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TIGHT MONEY A general condition of the economy in which money is not relatively abundant nor plentiful. In modern times, this condition arises when the monetary authority (Federal Reserve System) undertakes contractionary monetary policy. With tight money, interest rates are generally higher and inflation tends to remain low. The alternative to tight money is easy money.
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GREEN LOGIGUIN
[What's This?]
Today, you are likely to spend a great deal of time looking for a downtown retail store hoping to buy either an extra large beach blanket or a large flower pot shaped like a Greek urn. Be on the lookout for letters from the Internal Revenue Service.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"Whatever course you decide upon, there is always someone to tell you that you are wrong. There are always difficulties arising which tempt you to believe that your critics are right. To map out a course of action and follow it to an end requires...courage." -- Ralph Waldo Emerson
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MSCI
Morgan Stanley Capital Index
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