If the economy is already in a state of depression or recession, a drought can increase that state. Climate change can also amplify the effects of a drought. A drought can further cause damage by increasing the risk of large-scale wildfires, and it can cause populations to begin tapping into their emergency reserves of water—the aquifers that collect water underground. It helps to understand how droughts can deepen the effects of a changing climate, and how they have played a part in environmental and human circumstances in the recent past—so that one day, humans can move past destroying fragile ecosystems and still survive in comfort on the planet....

1930: -8.5%1931: -6.4%1932: -12.9%1933: -1.2%1938: -3.3% U.S. economic output fell from $1.1 trillion in 1929 to $817 billion in 1933, even after removing the effects of deflation. Prices fell 27% between November 1929 and March 1933. World trade plummeted 66%, as measured in dollars, between 1929 and 1934. By 1933, the unemployment rate had climbed to 24.7%. For those who remained employed, manufacturing wages fell 34% between 1929 and 1932....

There are a few things small business owners should know about equity financing before seeking to secure it. What Is Equity Financing? Equity financing is a common way for businesses to raise capital by selling shares in the business. This differs from debt financing, where the business secures a loan from a financial institution. Equity financing is typically used as seed money for business startups or as additional capital for established businesses wanting to expand....

The moratorium, initiated in March 2020 to keep renters who lost jobs due to the pandemic from being evicted for nonpayment, was extended several times. In March 2021, the National Rental Home Council, a nonprofit group representing the single-family rental home industry, said that 20% of 1,000 respondents to its February survey said they would “have no remaining financial options to cover costs related to their rental property” if the moratorium were extended beyond March 31, when it was due to expire....

Drazen_ / Getty Images Buying a dividend-paying stock, mutual fund, or exchange-traded fund (ETF) at the wrong time, however, can have some unintended tax consequences. Before you invest, you’ll need to know what the date of record and ex-dividend dates are, and how they impact the price of the stock and your taxes. What Is the Date of Record? When companies declare and announce a dividend, they specify which shareholders are eligible to receive payment, based on the date that they officially owned their shares....

These feudal landholdings were eventually abolished. What remained was “simple” or pure ownership, with no strings attached. The duration of fee simple ownership isn’t limited, and you can pretty much do whatever you like on the property as long as you’re not breaking the law or otherwise infringing on public welfare. You’re free to use the property, sell it, rent it out, or leave it to your heirs. Other laws can limit fee simple ownership, however....

How would you proceed if this were to happen to your home? Most people are not sure how to move forward with an insurance claim in such a case. Does the driver’s auto insurance company pay for damage? Does your homeowner’s policy apply? There might be plenty of insurance to go around, but who pays for what? The Driver’s Vehicle Policy Let’s start with the number-one rule for vehicle accidents: The party at fault for an accident is liable for any damage caused by that accident....

Chase Sapphire Preferred and Reserve: Peloton Peloton’s 3.6 million members make it one of the most popular at-home fitness companies out there. Its popularity increased during the pandemic, and to get in on the trend, Chase Sapphire and Peloton partnered up on an exclusive deal. Through the end of 2021, if you have an All-Access Membership (for those with a Peloton bike or treadmill) or a Digital Membership (for those without the machines), you can qualify for:...

What Are Fixed and Variable Costs? Fixed costs and variable costs are two main types of costs a business can incur when producing goods and services. Businesses use fixed costs for expenses that remain constant for a specific period, such as rent or loan payments, while variable costs are for expenses that change constantly, such as taxes, labor, and operational expenses. Fixed costs are generally easier to plan, manage, and budget for than variable costs....

Freezing Your Equifax Credit Report You have three options for freezing your credit report with Equifax. Online The fastest way to freeze your credit report is online via Equifax’s website. To complete the freeze, you’ll first have to create a myEquifax account. Creating an account requires you to provide your name, address, Social Security number, date of birth, and identity verification information. By Phone If you don’t want to create an online account with Equifax, the next best option is to request a freeze by phone....

The goal of GAAP is to ensure that information in financial statements is: Relevant, representative, and reflective of the economic pictureComparable with that of other organizationsVerifiable and auditable by a third partyComprehensible to users of the information As a result, GAAP compels companies to report their financial results accurately. For investors, the main advantages of GAAP are that it helps bring consistency and transparency to financial statements so that they can make more informed investment choices....

The average cost of a gallon of regular unleaded gasoline rose nearly 6 cents this week to $3.423, the highest since August 2014, according to AAA. As the chart below shows, prices had fallen late last year after the World Health Organization declared omicron a “variant of concern,” but have now more than returned. The increase is in line with a jump in oil prices, which also touched the highest level since 2014 on Friday....

Make sure that you highlight these skills when you’re job searching and emphasize them in job applications, resumes, cover letters, and interviews. How to Highlight Your Skills You can use these skills lists throughout your job search process. Firstly, you can use these skill words in your resume. Include keywords in the description of your work experience or the summary section of your resume as shown below: Secondly, you can use these in your cover letter....

Business permits are more about public safety (like a building permit), and that’s why permits typically require an inspection. For example, a health department permitrequires an inspection of the facility (like a restaurant), while a business license for a restaurant would not typically require an inspection. Business licenses are issued by cities and municipalities, and every city and town in the U.S. is different in what they require, who must get a business license, and how much the license costs....

Indeed, while the $260 translates to a savings of $15,582 over the first five years, there is a catch. Unlike with a fixed-rate loan, the borrower only gets a fixed rate for five years, and then it’s adjusted once a year for the rest of the mortgage’s life. The adjustment is based on a benchmark rate such as the Secured Overnight Finance Rate, leaving borrowers with the risk of their payments increasing if rates rise....

You may be rewarded for taking on greater risk—and for possibly watching the value of your principal investment fluctuate dramatically—with yields that are significantly higher than safer alternatives such as Treasury securities (which are backed by the U.S. government). Here are some investments that are generally considered to be high-yield. High-Yield Bonds High-yield bonds are issued by companies whose financial strength may not be rock solid. Often referred to as “junk bonds,” they must pay a higher yield than safer alternatives in order to attract investors....

Here’s what you need to know about these two types of mergers and how they affect markets. What Are Horizontal and Vertical Mergers? A merger takes place anytime one business is acquired by another. After the merger, the two businesses become one legal entity. The acquired business typically adopts the branding and business practices of the business that acquired it. There are many different types of mergers, but two common types are known as horizontal and vertical mergers....

They assure you that it’s only a formality and promise never to get behind on the payments. You love and trust this person and are inclined to go along. Before signing, however, you need to know your hazards and obligations. In the words of the Minnesota Attorney General Keith Ellison: “The Attorney General’s Office has heard from grandparents living on fixed incomes who are hounded by debt collectors because a grandchild cannot find a job after graduation to pay back a student loan, from parents who co-signed a loan to help a child’s boyfriend or girlfriend, only to be on the hook to repay the loan years after the couple has split up, and co-workers who co-signed loans for people they no longer work with....

The astute real estate investor that locates a neighborhood that they believe is about to “take off” may find that the tax authorities have a property tax equalization factor in place. This is there to bring the assessed values more in line with surrounding areas. How Is a Property Tax Equalization Factor Calculated? It’s a simple calculation, in that there will be some assigned multiplier factor to apply to the properties....

Who Invests in Small Business Stocks For the right type of person, with the right type of skill, temperament, and risk profile, small business investment can be a lucrative investment. Typically, there are only three mechanisms through which you can experience a profit in net worth from a privately held firm. Knowing these three sources of wealth generation is important because new investors are sometimes too quick to jump head-first into potential opportunities without clear ideas of how they will drive the economic engine to gain the financial benefits they desire....