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SAVINGS ACCOUNTS: Accounts maintained by banks, savings and loan associations, credit unions, and mutual savings banks that pay interest but can not be used directly as money. These accounts, also termed transactions deposits, let customers set aside a portion of their liquid assets that COULD be used to make purchases. But to make those purchases, savings account balances must be transferred to checkable deposits or currency. However, this transference is easy enough that savings accounts are often termed near money. Savings accounts, as such constitute a sizeable portion of the M2 monetary aggregate.
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ECONOMY The system of production, distribution, and consumption of goods and services that a society uses to address the problem of scarcity.
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PINK FADFLY
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Today, you are likely to spend a great deal of time lost in your local discount super center looking to buy either a birthday gift for your aunt or a pair of leather sandals that won't cause blisters. Be on the lookout for gnomes hiding in cypress trees.
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Helping spur the U.S. industrial revolution, Thomas Edison patented nearly 1300 inventions, 300 of which came out of his Menlo Park "invention factory" during a four-year period.
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"We can't take any credit for our talents. It's how we use them that counts. " -- Madeleine L'Engle, Writer
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OMB
Office of Management and Budget
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