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OPERATING STATEMENT: A statement of the revenues, expenditures, and profit for a business, household, or government entity over a given period of time. An income statement also goes by the names profit and loss statement, earnings report, and income statement. This is one of two key financial statements for an entity. The other is a balance sheet, which is a statement of assets, liabilities, and net worth at a given point in time.
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PARADOX OF THRIFT The notion that an increase in saving, which is generally good advice for an individual during bad economic times, can actually worsen the macroeconomy causing a reduction in aggregate income, production, and paradoxically a decrease in saving. The paradox of thrift is an example of the fallacy of composition stating that what is true for the part is not necessarily true for the whole.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time at a crowded estate auction seeking to buy either a pair of leather sandals that won't cause blisters or clothing for your kitty cats. Be on the lookout for mail order catalogs with hidden messages.
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In the late 1800s and early 1900s, almost 2 million children were employed as factory workers.
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"Defeat is not the worst of failures. Not to have tried is the true failure." -- George E. Woodberry, Author
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DPI
Disposable Personal Income
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