New Info Blog

Travelers on business or vacation can get some tax the best tax at the many cheap Toronto airport hotels around the Toronto Pearson International Airport, Canada’s busiest airport. Anybody looking for the best options in hotels in Toronto have the choice of amazing discount rates and can avail of instant reservations all made efficiently and easily through servers committed to making your transaction quick and secure. Catering to clientele traveling to Toronto from all over the world, these hotels assist the traveler through efficient online self-service reservation services right from planning their trips, providing information on airport services to booking rooms and scheduling other services as well.

The traveler has an entire array of cheap Toronto airport hotels to choose from across all categories, for all budget types, for business travel as well as for family vacations. Even last minute reservations, change of plans and schedules, and extended stays are given as much attention as any regular transaction and all transactions are handled efficiently and professionally so no weary traveler is left disappointed. Most of them cater to all requirements that a traveler to Toronto may need like terminal maps, information on airport parking, airport security measures and procedures ad much more.

The reservation processes at some of the cheap Toronto airport hotels is extremely customer friendly and convenient. A unique concept of Park-Sleep-Fly has been floated by a few airport hotels near the airport that promise to ensure the traveler is not bogged down by rush hour traffic and concerns of possible missed flights by offering good deals to those who are either flying in or flying out of Pearson International Airport especially at odd hours. What’s more, you get to save money by booking a hotel room and parking together for one low price. Of course, some hotels also offer parking complimentary. Most of these hotels are located within a few short miles of the airport making them easily accessible to travelers.

Business travelers visiting with families also benefit additionally from getting easy access to other facilities like a golf course, Water Park, a casino and other entertainment centers located nearby where the family can relax while the executives attend to business. Of course some hotels do have excellent in-house facilities as well like spas, indoor pools, internet access and do cater to all types of leisure activities .For those who consider pets as family, most of these cheap Toronto airport hotels are pet friendly and allow you to use the facilities provided to ensure your pet gets pampered too. Most hotels are located close to the major highways leading into downtown Toronto.

Some of the better hotels even offer indoor and tax malls and other forms of nightly entertainment so those who are not really up to venturing out can opt for the convenient facilities that these hotels have to offer. With everything that these hotels have to offer in terms of luxury, convenience, variety and most of all affordability to all categories of travelers, these cheap Toronto airport hotels is the preferred choice for almost all visitors to Toronto.

Resource site for information on cheap Toronto airport hotels, Oceania discount cruises and other travel related information.

by D. Karlson

Tags: affordability, Ally, amp, Array, Ast, avail, Benefit, bet, bett, Budget, business, business travelers, Cheap, cia, compliment, convenience, dea, ears, family vacation, fit, Fri, heir, hotel room, Hotels, indoor pools, informat, last minute, leisure activities, Map, measures, mmi, money, oic, Plans, pool, profession, promis, promise, Rate, relax, rips, Rush, security measures, sit, sleep, Target, Tax, Terms, traffic, Travel, vacations, variety, water park

The Mileage Tax Deduction Can Save You a Lot of Money

How often are you driving for work, as a volunteer or perhaps even moving? Would you say that nearly all of your driving is done for one of these reasons? If not, consider, the times you leave the office for business reasons, or if you work from home, leave and return home for business reasons. What about those trips you take if you haul the kids’ baseball team somewhere – or help out at your church?

All of these miles that you drive are deductible for tax purposes. As of July 1, 2008, the standard rate is also increased to $0.585 per mile ($0.19 for volunteer and moving miles). The IRS does require logs of miles to be kept for your records – and in case of an audit. You may find that by keeping logs up-to-date, at the end of the year you will have significantly more miles accounted for deduction purposes than if you are more lax in your record keeping.

The cost of driving a vehicle has skyrocketed in the past few years. Gasoline costs alone carve into business and household budgets in ways you could not have expected in the past. The driving you do to earn a living is a significant cost and Congress has recognized the importance of this deduction as a vital means for people to continue to pursue their incomes.

The tax code requires only that expenses are ordinary and necessary. It is not required that you show that the specific reasons for the expense are also ordinary and necessary – only that the expenses are both. So, for example, if you work from home and will be needing new paper for your printer in the near future, but decide to pick it up while you are out grocery shopping, both the expense for the paper itself, and driving to where you purchase it are deductible – wow!

Since the mileage expense to drive to the office supply store is ordinary and necessary, the mileage is deductible – in spite of the personal purchases you made while shopping. You have just converted an otherwise non-deductible trip to the store into a fully deductible business trip. There are many other opportunities available to you that you may not have thought about to take advantage of this deduction.

The mileage tax deduction, like many others deductions, can be calculated for free at TurboTax Online. The only time you are asked to pay for the service is if you decide to print or efile. Or, if you still have questions, visit Elusen Tax Advisors! Elusen has years of experience planning and advising clients on their tax needs, and helping fend off the IRS however necessary.

Tags: advantage, amp, Ast, Aud, avail, Budget, Budgets, business, business reasons, Congress, Coul, ears, Expenses, Fre, Gasoline, grocery shopping, heir, home, household, inc, incomes, Irs, Logs, lot, lpi, Mileage, money, moving, People, Personal, Rate, reason, rips, shopping, sit, spite, Target, Tax, tax deduction, work, writ, Yea

In a previous article, we explored why it was best to spend your IRA first. The first reason was to delay taking Social Security until age 70 to maximize the inflation adjusted income from a safe source, the United States Government.

The second reason was to have the IRA withdrawals taxed under the current tax structure since it is highly probable that tax rates will rise in the future. If you delay your IRA withdrawals, they may be taxed at a higher rate.

The third reason that was not covered in detail in the previous article is to reduce the amount of money that you will have to pay on your Social Security benefit income. We will cover this reason in detail in this article.

It may come as a nasty surprise to retirees that income tax must be paid on Social Security benefits if what the Internal Revenue Service calls your “provisional income” is over a certain limit. Provisional income is figured by summing your adjusted gross income, your tax-exempt income, and one-half of your Social Security income.

The more income you receive, the larger your provisional income will be, and the more tax you will pay on your Social Security benefits.

If you are married and your provisional annual income is over $44,000, you will be in the higher tier of provisional income and you could pay tax on up to 85% of your Social Security.

When you spend your IRA first and maximize your Social Security income, you will draw less from your IRA since more of your retirement income will come from your Social Security. This lowers your adjusted gross income which in turn lowers your provisional income. Lower provisional income lowers your taxes on Social Security. This gives you more after tax income to enjoy in your retirement.

Let’s take the case of two married couples who file jointly. They plan for $70,000 per year retirement income. For sake of simplicity, let’s assume that both couples have the same Social Security benefits at their normal retirement age and both have the same amounts in their IRA’s.

Couple #1 starts taking Social Security at age 62 and receives $30,000 annual Social Security benefits.

Couple #2 spends from their IRA’s first to delay taking Social Security. At age 70, they start receiving Social Security benefits of $48,600 per year.

At age 70, the pretax income for each couple will be:

Couple #1 $40,000 from IRA’s plus $30,000 Social Security = $70,000

Couple #2 $21,400 from IRA’s plus $48,600 Social Security = $70,000

If you want to skip the final tax calculations, skip down to the heading “Final Tax Amount” to see the tax savings from spending your IRA first.

Calculation of Provisional Income

For the calculation of provisional income we will assume that they did not receive any tax exempt interest.

Couple #1 $40,000 from IRA’s plus $30,000/2 Social Security = $55,000 provisional income.

Couple #2 $21,400 from IRA’s plus $48,600/2 Social Security = $45,700 provisional income.

As you can see, by spending their IRA funds and delaying Social Security, couple #2 lowered their provisional income by $9,300.

Calculation of Taxable Social Security Income

How much does that save in taxes? The IRS has made this calculation complicated. You can access the form for this calculation on page 25 of the Instructions for Form 1040 from the IRS website.

Since these couples will be over the upper limit ($44,000) for provisional income, the amount they will pay on Social Security income is calculated by performing two calculations and then taking the lesser of the two amounts from the calculations.

Calculation #1 = 85% of Social Security

Calculation #2 = $6,000 %2B 85% times (provisional income – $44,000)

For couple #1

The first calculation is 85% times $30,000 Social Security = $25,500.

The second calculation is $6,000 plus 85% times ($55,000 less $44,000) = $15,350.

The lesser amount from the two calculations is $15,350.

For couple #2

The first calculation is 85% times $48,600 Social Security = $41,310.

The second calculation is $6,000 plus 85% times ($45,700 less $44,000) = $7,445.

The lesser amount from the two calculations is $7,445.

Final Tax Amount

Now let’s calculate the total taxable income for both couples.

Taxable income for couple #1 will be total IRA income ($40,000) plus the taxable Social Security income ($15, 350) = $55,350.

Taxable income for couple #2 will be total IRA income ($21,400) plus the taxable Social Security income ($7,445) = $28,845.

To calculate the tax each will pay, we will use the 15% tax rate.

Couple #1 will pay $8,303 and couple #2 will pay $4,327. Couple #2 will save $3,976 in taxes over couple #1.

By spending their IRA first, couple #2 will have $3,976 more each year to spend on their retirement. Multiply this over the years in your retirement and it will take you on a few nice trips or allow you some pleasures that you would otherwise not have been able to enjoy.

In summary, spending your IRA first can increase your Social Security benefits, lower your tax exposure from potential tax increases in the future, and lower the tax you must pay on your Social Security.

Disclaimer: The information in this article is general information. If you want to leave an estate to your children or if you are in poor health, concepts presented in this article may not apply to you. Seek professional advice from your accountant or a professional advisor.

Copyright 2008 John Howe, Inc.

John V. W. Howe is an entrepreneur, author, inventor, patent holder, husband, father, and grandfather. He has developed several websites to help retirees (or soon to be) plan for retirement.

His newest website, http://www.SPEND-til-THE-END.com, discusses and reviews the controversial new financial planning book, SPEND til THE END, written by Laurence Kotlikoff, Professor of Economics at Boston University, and Scott Burns, nationally syndicated personal financial advice columnist.

SPEND til THE END is packed with many gems of retirement wisdom.

Tags: Adjusted Gross Income, advice, aim, Ally, Amount Of Money, Ast, Benefit, Benefits, cia, columnist, Coul, current, ears, Entrepreneur, financial, financial advice, fit, Gems, heir, inc, income tax, inflation, informat, Internal Revenue, Internal Revenue Service, inventor, Irs, mmi, money, Personal, Pleasure, profession, Rate, reason, rent, retirement, retirement age, retirement income, review, rips, Rsi, Sake, simplicity, sit, social security, Social Security Benefits, surprise, t pay, Target, Tax, tax increases, Tax Rate, Tax Rates, Taxes, united states, withdrawals, writ, Yea

Experience God’s Grace and Mercy When You Give Your Personal Best to Him.

Perhaps the first and foremost problem that stunts the spiritual growth for many a new Christian is the false analysis of the personal best. Up to the waters of baptism, the would-be disciple is coached, guided, and spoon fed a host of truths and new information about God. It does not take long for the young Christian to experience the first stirring of understanding about God’s grace and mercy, and when the sinner commits to turn away from a life led for personal gratification and instead turns to a life of Christ-likeness, it is with earnest intent and desire.

Sadly, soon the notion of giving their personal best to God trips up those who fail to transition from accepting others’ instructions about a loving God to fixing their eyes on Jesus instead. As Satan seeks to snuff out the tender shoots of a growing love for the redeeming grace of Jesus’ sacrifice, feelings of inadequacy begin to multiply. You see, the new disciples are comparing themselves now to those who might have been in the faith for years or even decades, failing to see that the personal best is not quantitative but instead qualitative in nature.

Whereas for a well to do Christian it is easier to give a sizeable weekly tithe, the $5 the new Christian is able to scrape together suddenly appears paltry. In the same vein, when listening to the flowery prayers of some during get-togethers, the somewhat forced ovations to God that the new Christian has to offer seem meaningless. The results are dangerous: instead of experiencing God’s grace and mercy to the full, the new disciple in instead filled with feelings of shame, inadequacy, and subsequent emotional pain of simply not living up to anyone’s standards. Compounded with the guilt of just not being able to “get happy,” many Christians suffer in silence and puts on a good front.

Break through these chains and instead of guilt experience the emotional healing that stems from God’s power when you learn to recognize your personal best and resolve to offer it up to God on a daily basis. In keeping with Proverbs 12:28, righteousness is a path along which immortality is reached. It is not the actual perfection of the Christian walk but instead the stubborn persistence therein – by being the best you can be for God – that results in the final prospect of being made perfect when the Christian faces God and experience His grace and mercy first hand.

It is the spiritual growth along the way that also permits for the emotional healing for someone caught up in the self destructive clutches of feelings of inadequacy. A powerful tool in this endeavor is revealed in 2 Peter 1:1-11. In verse four it is revealed that the faith the Christian professes must be precious. In verses five through seven, a how-to manual is offered that helps anyone who doubts their Christian walk to get back on track and let go of the fears of an inadequate life that might have plagued them. Experience God’s grace and mercy today; allow yourself to experience spiritual growth and the emotional healing that comes in its wake.

Jason Powers a Christian Writer in the state of Florida. His books have touched many lives from around the world including India, Pakistan, Africa and the UK. For more information about Jason Powers or his writings visit A Healing God.

Tags: blog, blogs, Books, chains, christians, Coach, daily basis, dea, Desire, doubt, doubts, ears, Emoti, emotion, endeavor, face, Faith, fear, fears, feelings, Fri, god, heir, inc, informat, Irs, jesus, Logs, love, mmi, notion, pakistan, persistence, Personal, prayers, Proble, rips, Rsi, s books, sit, stead, Stu, Target, tool, Transition, truth, writ, Yea

Northern Rock, one of Britian’s largest mortgage banks is expected to receive emergency funding from the Bank of England today for possibly more than £4 billion ($8 billions), as the mortgage bank runs out of cash and is unable to obtain credit on the interbank money market due to the ongoing liquidity squeeze and the banks own sizeable subprime mortgage book risks. As with the earlier emergency funding of barclays, the rate charged by the Bank of England is expected to be significantly higher than the 5.75% base rate, possibly around 6.75%.

The share price is down by 50% from highs set barely 6 months ago, the current PE of 6.75 is expected to rise on profit warnings and bad debt provisions to above the recent range of 14 to 17. Technically, the chart looks oversold, but there may be blood on the street as some panic grips stock holders which may send the stock to a new multi-year low on today’s open as there is a risk of a run on the bank as savers make panic withdrawals.

The Market Oracle specifically warned investors and savers of the growing problems facing Northern Rock due to the size of its subprime mortgage book and the US subprime induced credit crunch on the 22nd of August 07 UK Housing Market Crash of 2007 – 2008 and Steps to Protect Your Wealth.

Investors : ” Trading on a PE of just 7.5 and a yield of 4% may now make the stock seem enticing, but the mark down is in anticipation of the much higher risk of mortgage defaults and repossessions in the UK as the housing market starts to nose dive. These repossessions (foreclosures) are already hitting the likes of northern rock with expectations of a tripling in the rate over the next 6 months as compared with the same period last year. This surge in repossessions will impact the earnings of the UK Mortgage banks as they make every larger bad debt provisions and issue profit warnings.

This is in addition to any toxic US Sub prime related exposure. Therefore in Northern Rock’s case a PE of 7.5 could jump many fold in a worse case scenario. ” – Nadeem Walayat, 22nd August 07

Savers : ” Invest in Fixed Interest Bonds issued by large strong banks , avoid issues from mortgage banks such as Northern Rock. Keep in mind that In the UK savers have protection at 90% of holdings of the first 35k of investments in fixed bonds and savings accounts so bare that limit in mind.” – Nadeem Walayat, 22nd August 07

Are my Savings Safe ?

Absolutely, 100% Safe!, well okay only the first £2000 is 100% safe under the UK Financial Services Compensation Scheme (FSCS), then the next £33,000 is protected at 90%. Therefore, the maximum safety net is for £31,700 covering total deposits of £35,000, thus you could say it is highly prudent to ensure that you do not have savings of more than £35,000 with the Northern Rock or any other UK financial institution. Off course avoiding the mortgage banks with large UK subprime exposure altogether would be an even more prudent move. But for the average savings punter, there is little need to start panicking and seeking to transfer out your £3k Cash ISA accounts, other than for a higher interest rate elsewhere.

Unfortunately this is just the tip of the UK Subprime housing bust cycle Iceberg, as the credit crunch has barely begun to bite ! These are but mere credit crunch nibbles for the market participants to snack upon.

The real bites will come as the financial institutions post their quarterly earnings reports, that’s starting in October 2007. The expectations are for at least 3 quarters of deteriorating market conditions. The UK property market as anticipated has now peaked, and the credit crunch liquidity squeeze literally ensures a downward spiral well into Mid 2008.

Can the Bank of England do Anything to Avoid the Inevitable ?

It appears that the central banks have learned some lessons from the last liquidity boom. I say it appears that they have, but appearances can be deceptive! What is likely to happen is that the central banks will tow a tough line for some months, i.e. release liquidity at high rates of interest to ensure banks don’t default. But as the economies start to tank under the mounting bad debts crisis, the central banks such as the BOE will bend to the politicians, especially in the lead up to elections by making money much cheaper. This will result in higher inflation, higher commodity prices, and maybe a year or so from now the word stagflation will be hitting the headlines with regular frequency.

What else should I do now ?

I am not going to start pointing the finger at all of the likely candidates for banks that could go bust during the downward spiral. But the strategy of what to do to protect yourselves is clear and and listed in the previous article UK Housing Market Crash of 2007 – 2008 and Steps to Protect Your Wealth .

However, I could add additional pointers such as paying down your debt, cutting household expenditure and diversifying your sources of income, which is easier said then done. But this financial ‘problem’ is not going to go away anytime soon, and decisions by individuals exposed to the housing market need to be made now rather than be forced upon through circumstance.

Originally Published 13th September 2007

By Nadeem Walayat

Editor of (c) Marketoracle.co.uk 2005-07. All rights reserved.

The Market Oracle is a FREE Daily Financial Markets Forecasting & Analysis online publication. We present in-depth analysis from over 100 experienced analysts on a range of views of the probable direction of the financial markets. Thus enabling our readers to arrive at an informed opinion on future market direction. http://www.marketoracle.co.uk

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Individuals should consult with their personal financial advisors before engaging in any trading activities.

Nadeem Walayat Archive

Tags: advice, aim, Ally, Anticipation, Ast, bank, banks, billions, bonds, cash, central banks, Cheap, cia, circumstance, commodity, commodity prices, Coul, credit, credit crunch, current, debt, Decisions, Diversify, E Book, Earnings, ears, financial, Financial Advisors, financial institutions, financial markets, financial services, fit, Fixed Interest, Foreclosure, foreclosures, Fre, heir, household, housing market, inc, inflation, informat, institutions, interest rate, investment, investments, investor, investors, Irs, Liquidity, Making Money, market, markets, money, money market, mortgage, mortgage bank, mortgage banks, Personal, pointer, politic, politicians, possession, possessions, Proble, Prope, punter, rash, Rate, rent, Repossession, rips, risk, Rsi, savings account, sessions, share price, sit, Squeeze, stock, strategy, tank, Target, trading, withdrawals, Yea

I am reading The Tightwad Gazette, by Amy Dacyczyn, for the second time. This is a must have book for anyone trying to live a frugal lifestyle. The book is over 900 pages of frugal fun.

In the book, Dacyczyn writes about passive frugality. I have always thought about this but didn’t really have a name for it. Passive frugality is about what you are not doing in order to live frugally. Many people talk about the money they save on groceries, cars, insurance, etc… but they are only able to save money because they are spending it in the first place. For example a 2 for 1 dinner coupon is great if you can afford to pay for the one meal. But truly, you save more money by not eating out at all.

When my husband and I decided to get rid of our debt, we realized that sometimes it is the things that you don’t do, that can save you the most money. Here are some things we didn’t spend money on last year.

We didn’t go out to eat. We stopped all the little trips through the drive thru, just to save time. We planned ahead and either packed lunches or just toughed it out until we got home.

We didn’t involve our kids in expensive extra curricular activities. Sports, dance, art, gymnastics, music lessons and the like are very expensive. Fees start around 50 dollars a month and go up from there. I am not saying that any of these are bad choices, but if you are going into debt in order to fund these things you might want to rethink your investment.

We didn’t make little trips to the store. We made a weekly shopping list and shopped once a week. Those little trips to Target, just to get diapers, added up to a couple of hundred dollars a month, because there was always something else that we had to have while we were there.

We didn’t go to the mall. My opinion is that going to the mall creates an appetite of consumerism in me and the kids. At the mall we are inundated with images of the latest styles that are presented to us in a way that make it hard to say no. We actually enjoy shopping at the thrift store and yard sales. We love the thrill of the hunt and calculating how much money we save.

We didn’t take a vacation. Even a cheap vacation is more expensive than none at all. During that time, we explored the area were we lived and enjoyed as many free activities as we could find.

We didn’t use our credit card. Sure we didn’t rack up miles or cash back, but we spent a lot less when we paid with cash. Dave Ramsey and others claim that people spend between 12-18% more when paying with a credit card. I don’t know if that is true, but I do know we were able to pay off over $10,000 in student loans in under four months after we stopped using our card.

We didn’t run our air conditioning unless the temperature rose above 90 degrees. Sure there were a few days when it was slightly uncomfortable but we cut our bill by about 30%.

We didn’t go to the movie theater or rent movies. We utilized the library for movies or we borrowed from friends.

These are just some of the things we didn’t do to save money. Sometimes we forget that the best way to save money is to not spend it in the first place!

Toni Anderson – The Happy Housewife
http://thehappyhousewife.com

Thriving on one income in a two income world

If you liked this tip, stop by TheHappyHousewife.com for more frugal tips.

Tags: Ahead, aim, air conditioning, Ally, amp, appetite, Ast, bet, cars, cash, Cheap, choices, Coul, credit, Credit Card, debt, Dollar, E Book, few days, Fre, Fri, friends, Groceries, home, how much money, How To Save Money, images, inc, insurance, investment, Irs, Lifestyle, loan, loans, lot, love, many people, met, money, movie, Much Money, oic, People, rent, rips, sales, shopping, shopping list, Stu, Target, tips, writ, Yea

Back in 1997 major financial slump rocked number of countries in Asia, an event that became known as “Asian currency crisis”. Effected countries included Taiwan, Thailand South Korea and others. One of the memorable comments of the time came from one of leading Thai politicians. He blamed this whole mess on speculators, with George Soros being the main culprit. The remarks went so far as to public statement of “not being able to guarantee his safety if he visited Thailand”. Quite ominous.

The fallout in South Korea was brutal. The US Dollar has about doubled in value against the Won, with USD-KRW moving from just above 800 in early 1997, to 1600 by the year’s end. Local stock market suffered similar fate, as did all areas of economy. Perhaps most telling was an enormous spike in unemployment, as the jobless rate soared to almost double digits, with about 9 million people out of work.

This author observed the aftermath first hand, during one of his business trips to South Korea at that time. Collapse of once high flying conglomerate Daewoo under burden of debt. The sight of many construction projects suspended or stopped all over Seoul and Pusan. Daily failure of scores of small business. It was good time to visit South Korea, due to low prices, but very difficult period for residents.

The country has rebounded nicely since then and became one of Asia’s most dynamic economies. KRW strengthen considerably reaching level 900 against USD in 2007. The stock market has recorded double digit gains in four of the last five years, gaining 32% in last year alone. Korean companies like Samsung Electronics Co, and Hyundai Motors Co, have established themselves as some of the world’s leading corporations.

Things have changed in 2008. Challenges like high oil prices, inflation, external debt and account deficit have shaken investors confidence. While many countries have seen outflow of funds into the dollar, this process became especially painful in South Korea. The Won has become the Asia’s worst performing currency, loosing 20% to date. Stock market was no better, falling 25%, with farther sell off of equities expected.

These developments created widely spread comparisons to situation from 1997 and were quick to be picked by the press. International Monetary Fund disagrees with this assessment and expressed confidence by saying that South Korea is a mature and resilient economy with country’s fundamentals much stronger than a decade ago. Korean financial authorities, however, felt obligated to act by intervention on Wons behalf in the open market. This seemed to stop the bleeding for now.

What can be expected next? In all reality, 1997 type sell off is extremely unlikely. As South Korean economy is cooling down together with the rest of the world, Seoul might not be able to stop bleeding of the stock market but there is one thing they can do- keep intervening on behalf of its currency. Unlike before, there are huge foreign reserves, about 250 billion dollars worth of, and they can be used to support Won.

Very likely scenario, as of this writing, is continued fall of Korean equities, in tune with broader stock declines. The Won should also keep dropping, but in much more measured and steady pace. Central Bank has not mentioned what the comfortable level for USD-KRW is, but as we noticed over last few years, major trends are very powerful and can go through any “line in the sand’ drawn by anybody.

Current rate is around 1150. Even with expected interventions, Won can easily weaken to 1300 and maybe 1400, but far short of the previous low of 1600. Also, one shouldn’t look for a fast move, but rather steady depreciation, lasting a year or two. This is not a situation for active traders, but for those who prefer longer term positions current development might present good opportunity for farther selling of KRW.

Mike P. Kulej is a Chief Forex Strategist for Spectrum Forex LLC. He specializes in mechanical trading systems as explained on http://www.spectrumforex.com . Spectrum Forex LLC offers numerous services to individual traders. He also publishes trading blog http://www.fxmadness.com. With questions and comments e-mail him at kulej@spectrumforex.com

Tags: Ally, Ast, bank, bet, bett, billion dollars, blog, business, challenges, cia, collapse, Comments, confidence, corporations, country, culprit, currency, current, debt, Decline, digits, Dollar, ears, Economy, Employ, failure, fate, financial, foreign, inc, individual traders, inflation, investor, investors, Irs, Job, korea, korean companies, laps, llc, madness, Mai, mail, market, math, mechanic, monet, moving, Oil price, oil prices, People, politic, politicians, Rate, rent, rest of the world, rips, s trading, seo, sit, Smal, small business, Speculators, stead, stock, stock market, sun, Target, trader, trading, trading forex, trend, Unemployment, Valu, work, writ, Yea