Global Credit Availability Essay -- essays research papers fc

Global reference book AvailabilityIn todays ground of personal pay and economics, with the global perspective being the primary focus. Corporations, just like individuals, are looking at expanding their horizons and saving or making as much profit as they can. How do they accomplish this gigantic and often expensive proposition? The answer to this is through commendation. However I poise a question to everyone. Is the ease of which to receive credit today a hindrance and detriment to all of us, or is it the answer we have all been looking for? I will show you both sides of this situation and you are the judge.The term credit according to the 1992 issue of New Websters Dictionary is a transfer of goods, etcin confidence of future payment, to enter on the credit side of an account to procure credit or honor to (Credit). The term domestic credit in the Dornbusch Microeconomics book is the monetary authoritys holdings of claims on the public sector government debt and on the privat e sector usually loans to banks (Domestic Credit). According to our Personal Finance book Consumer credit dates back to colonial times. While credit was originally a priviledge of the affluent, farmers came to use it extensively. No direct finance charges were imposed instead, the cost of credit was added to the price of goods All economists now recognize consumer as a major force in the American economy To excerpt an old political expression, as the consumer goes, so goes the U.S. economy (164). These terms all mean one thing, as we the public, government, and businesses receive credit, we must be responsible with it and condition that we repay our obligations.In todays global economy credit is the single most important tool most consumers and businesses have. Credit when used decently allows us to grow and purchase items we might not otherwise have the funds for. The United States has had credit reporting information and accounting since 1956, and with all of this operable in formation global models are now being created for other countries to follow. It is said that without the use and availability of credit the global econo... ...l. Macreconomics. 9th ed. Ed. Lucille Sutton. New York NY, 2004.Kapoor, Jack R., Les R. Dlabay, and Robert J. Hughes. Personal Finance. seventh ed. Ed. Michele Janicek. New York NY, McGraw-Hill/Irwin, 2004ReferencesCole, R., The importance of relationships to the availability of credit. Journal of Banking and Finance. 1998Fisman, R., Trade credit, financial intermediary development and industry growth. Journal of Finance. 2003Kennickell, Arthur B., Martha Starr-McCluer, and Brian J. Surette, Recent Changes in U.S. Family Finances Results from the 1998 Survey of Consumer Finances, federal Reserve Bulletin. January, 2000, pp 1-29.Scott, J., Small business and the value of community financial instituations. Journal of Financial Services Research. 2004United States. Board of Governors of the Federal Reserve System. Federal loca te Insurance Corporation. 10 Nov. 1999 http//www.federalreserve.gov/boarddocs/press/general/1999/19991110/default.HTMUnited States. Federal Reserve Board. 10 Sept. 2003http//www.federalreserve.gov/BoardDocs/Press/bcreg/2003/20030910/default.htm.