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BUILDING CYCLE: The recurring periods of first active and then stagnant home sales and housing construction. A complete cycle usually lasts from 15 to 20 years. The source of these ups and downs rests with the competitive nature of the home construction business, the length of time it takes to build a house and, perhaps most importantly, the length of time before a house depreciates.
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FEDERAL RESERVE PYRAMID A representation of the structure of the U.S. Federal Reserve System that is shaped like a pyramid with the Chairman at the top and thousands of commercial banks (and the non-bank public) at the bottom. By the numbers, the Federal Reserve pyramid includes 1 Chairman, 7 members of the Board of Governors, 37 Federal Reserve Banks, around 20,000 commercial banks, and 300 million people making up the non-bank public.
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GRAY SKITTERY
[What's This?]
Today, you are likely to spend a great deal of time searching for a specialty store hoping to buy either a birthday greeting card for your aunt or a wall poster commemorating the moon landing. Be on the lookout for jovial bank tellers.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"Advice is like snow ‚ the softer it falls, the longer it dwells upon and the deeper it sinks into the mind. " -- Samuel Taylor Coleridge, poet
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GATT
General Agreementon Tariffs and Trade
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