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LOAN LOSS RESERVES: A special account set aside by banks acting as a buffer between deposits and net worth that's used in case a loan is not repaid. Without this reserve, an unpaid loan on the asset side of a bank's balance sheet would require an adjustment of deposits or net worth on the liability side. The loan loss reserve is used for this adjustment.
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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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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time browsing through a long list of dot com websites wanting to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for mail order catalogs with hidden messages.
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This isn't me! What am I?
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One of the largest markets for gold in the United States is the manufacturing of class rings.
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"Old minds are like old horses; you must exercise them if you wish to keep them in working order. " -- John Adams, 2nd US president
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RTA
Regional Trading Arrangement
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