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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.
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RECESSION A phase of the business cycle characterized by a general period of declining economic activity. A recession is one of two basic business cycle phases. The other is expansion. The transition from recession to expansion is termed a trough and the transition from expansion to recession is termed a peak. The technical term for recession, which is generally used by economists and policy makers, is contraction.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time lost in your local discount super center trying to buy either decorative picture frames or storage boxes for your income tax returns. Be on the lookout for vindictive digital clocks with revenge on their minds.
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The average bank teller loses about $250 every year.
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"A leader, once convinced that a particular course of action is the right one, must . . . be undaunted when the going gets tough." -- President Ronald Reagan
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