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DEFAULT RISK: The probability that a borrowing agent will not pay in full the agreed interest and/or principal. A default risk can be assigned to any bond or loan agreement. Of course, there are some instruments considered default-risk-free, that is, instruments for which the probability that a borrowing agent will not pay is zero. The most noted examples are the U.S. Treasury securities, which have virtually no default risk because the U.S. government guarantees that all the principal and interest will be repaid. When calculating the risk premium on financial instruments, investors use default-risk-free instruments for comparison.
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PRODUCER SURPLUS The revenue that producers obtain from a good over and above the price paid. This is the difference between the minimum supply price that sellers are willing to accept and the price that they actually receive. A related notion from the demand side of the market is consumer surplus.
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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a garage sale seeking to buy either a birthday greeting card for your grandmother or a coffee cup commemorating yesterday. Be on the lookout for florescent light bulbs that hum folk songs from the sixties.
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Woodrow Wilson's portrait adorned the $100,000 bill that was removed from circulation in 1929. Woodrow Wilson was removed from circulation in 1924.
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"If a man hasn't discovered something that he will die for, he isn't fit to live. " -- Martin Luther King Jr., clergyman
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NYFE
New York Futures Exchange
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