Into the Light

By |2018-01-29T12:51:11-04:00January 29th, 2018|Categories: Global Market Update|Tags: , , |

What’s the underground economy? Photo: Melony Candia. Source: Morguefile The informal economy is the cash economy. It’s the economy of under-the-table transactions, of digital currencies and returning favors. Sometimes it’s unsavory, sometimes not. If you read a new book that you like and loan it to a friend, that’s informal activity. No money changes hands. This is perfectly legitimate. But sometimes informal activity is sleazy: cash payments for goods or services so sellers can avoid reporting what [...]

Rupee Rumble

By |2016-12-02T10:29:59-04:00December 1st, 2016|Categories: Global Market Update|Tags: , , , |

What’s happening in India? 500 Indian Rupee note. Source: Wikipedia Three weeks ago the Government of India declared that all of the current 500 and 1000 Rupee banknotes—the highest denominations—were no longer legal tender. At the same time, the Government issued new 500 and 2000 rupee notes. For reference, 1000 Rupees is worth about $15, and a loaf of bread costs about 25 Rupees. Prime Minister Narendra Modi announced the change in an unscheduled, live [...]