The recession may be officially over, but Americans are still hurting financially. The Department of Labor reports hiring was down last month, and the disappointing news had a ripple effect on the economy as the stock market fell this week. The good news is it’s national doughnut day, and who doesn’t love doughnuts?
Liberty Financial Term Deposits can help you make the most of your cash deposits by offering you a high interest savings accounts.
Identity theft has been a concern for as long as people have used the internet for financial transactions, which is why most would expect a corporate giant like Sony to have top of the line security protecting sensitive information. Apparently not.
Sony was recently hacked for the second time–the hackers call themselves LulzSec or the Lulz Boat and claim they used a SQL injection attack to compromise the personal information belonging to more than one million users. That information includes home addresses, e-mail addresses, passwords, birth dates and more. What’s even more alarming is the hackers claim the data wasn’t even encrypted–it was stored as plaintext, making stealing the data as simple as just taking it.
A recent government report shows that hiring slowed in May, which led to a downturn in the stock market on Friday. In addition to to less hiring, the unemployment rate took an unexpected upward turn, which confirms worries that economic recovery is coming to a halt. This, combined with slowed manufacturing and consumer spending, had a negative effect on the stock market.
In fact, stocks fell this week by 2 percent, the largest decline in terms of percentage since last August. Additionally, 10-year Treasury note yields dropped under 3 percent for the first time this year.
In 1938, the Salvation Army decided to honor the women who served doughnuts to soldiers during World War I by creating a new holiday. Ever since, the first Friday of June has been known as National Doughnut Day, which means a ferocious battle between Krispy Kreme and Dunkin’ Doughnuts ensues. Both companies are offering customers a free doughnut at participating stores (with a beverage purchase at DD), so those who aren’t watching their waistline have the opportunity to save money on breakfast today.
When it comes to protecting your sensitive financial data and other private information, don’t assume that just because you’re dealing with a large company it’s safe. Identity theft is a growing problem and it’s up to you to take all the steps necessary to protect yourself.
When it comes to your investments, understand the market will fluctuate up and down and sometimes stay down for a while. The most important thing to remember is it will go back up eventually and successful investing is a long-term game–for those days when your portfolio takes an especially hard hit, a doughnut usually helps to ease the pain.
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