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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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BLUE PLACIDOLA
Your compete MICRO*scope for today
You are the type of person who ambles through life with no apparent care in the world, but you get the job done. Family and friends worry that you will be run over by a fast-moving pedestrian. Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a genuine fake plastic Tiffany lamp or a microwave over that won't burn your popcorn. Be on the lookout for letters from the Internal Revenue Service. You should consider shopping at stores or businesses beginning with the letter M, but do not buy any products with a serial number or product code containing the number 817206. Your preferred shopping venue is department stores. Your special symbol is the at sign (@).
Is this You?
As a Blue Placidola, you are easy-going and even-tempered, calm and composed. For you, the hectic pace of a crowded shopping mall during the holiday rush is nothing, it's little more than a tranquil stroll in the park. Life is good. Life goes on. Why worry. You are a happy shopper and you seldom fret over trivial details of a market exchange, in part because you are astute enough to get moderately low prices and relatively good deals.
This isn't me! What am I?
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BENEFIT PRINCIPLE A taxation principle stating that taxes should be based on the benefits received. The benefit principle works from the proposition that those who receive the greatest benefits should pay the most taxes. The benefit principle is commonly used for near-public goods such as highways, libraries, college, and national parks. This is one of two taxation principles. The other is the ability-to-pay principle, which states taxes should be based on income or the ability to pay taxes.
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Gambling On A State LOTTERYYou might recall during our discussion of gambling in the entry appropriately titled gambling, that I purchased $5 worth of Super Luck-O Multi-State Lottery tickets at the Master's Sprocket convenience store. Well, the day of the big drawing came and went. I was about as close to winning as the planet Pluto is to buying a Hot Mamma Fudge Bananarama Ice Cream Sundae on a cold winter morning. At least the five dollars I paid for lottery tickets goes to a good cause. The state uses a share of the proceeds for education, and that keeps my taxes lower. If you'll excuse me for a moment, I've got another ten bucks in my pocket screaming for the chance to by some more Super Luck-O Multi-State Lottery tickets. While I'm doing that, why don't you see if this is a wise consumption move on my part.
Tell me more...
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A U.S. dime has 118 groves around its edge, one fewer than a U.S. quarter.
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"No man, for any considerable time, can wear one face to himself and another to the multitude without finally getting bewildered as to which may be true." -- Nathanial Hawthorne, Author
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AR Average Revenue, Autoregressive
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