Category: Personal Finance

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New Jersey Ranks in Top 10 States for Venture Capital Dollars Invested

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photo : Thomas Edison

the staff of the Ridgewood blog

Trenton NJ,  the New Jersey Economic Development Authority (NJEDA) today announced that New Jersey now ranks ninth in the nation based on venture capital (VC) dollars invested per state. According to PitchBook, innovation-focused companies in New Jersey secured $5.5 billion in 219 venture capital deals in 2021, up from $1.7 billion thorough 154 deals in 2020. This represents a significant improvement for New Jersey relative to 2017, when the state saw a total of $818 million in 143 venture capital deals. In this latest ranking, New Jersey jumped three spots from where it stood at #12 in 2020, and seven spots from #16 in 2013. New Jersey’s share of the Northeast market also grew, by 1.4 percentage points in 2021 to 5.5 percent.

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American Oligarchs Behind Economic War on Russians

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By Charles Stampul

This is an attempt to make sense of the war that is now threatening Americans. Everything that follows is pure speculation for entertainment purposes only. Continue reading American Oligarchs Behind Economic War on Russians

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Nonfarm Payroll Employment Rose by 678,000 in February, unemployment rate edged down to 3.8 percent and the labor force participation rate, remained at 62.3 percent

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the staff of the Ridgewood blog

Washington DC, total nonfarm payroll employment rose by 678,000 in February, and the unemployment rate edged down to 3.8 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, health care, and construction.

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The US Securities and Exchange Commission Targets NFT Creators, Marketplaces Over ICO-Like Sales

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the staff f the Ridgewood blog

Ridgewood NJ, the US Securities and Exchange Commission is investigating NFT creators and marketplaces for regulatory violations. The probe will look into whether NFTs are being used to raise money like traditional securities. Several subpoenas related to the investigation have already been issued. Experts have been warning the community about the possibility of this investigation for years. The SEC has come after ICOs for similar violations in the past. It is concerned that cryptocurrency projects are merely finding new variations of unregistered securities.

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SHOCKER : NJ State Senate Proposes Ways to Enhance Retirement Savings

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state of New Jersey attempts to help people who work for a living , what gives????

the staff of the Ridgewood blog

Trenton NJ,  in an effort to encourage and help more New Jersey workers have secure retirements, the Senate Budget and Appropriations Committee approved legislation that would provide taxpayers a gross income tax exclusion in the amount of contributions made to a qualified retirement plan.

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Market Freakishly Unalarmed by Weekend Developments

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By Charles Stampul
It’s not the actions on the ground and in the air, but the financial war measures enacted by the US and EU that should have market participants worried.  In response to Russia’s invasion of Ukraine, Western governments are going after Russia’s currency and banking system with seemingly no awareness of the risks of either retaliation by Russia or contagion.

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Inflation: Wholesale Prices Jump 1% , Up 9.7% For the Year

Fed Chairman Jerome Powell

the staff of the Ridgewood blog

Ridgewood NJ, the Producer Price Index (wholesale prices) for final demand increased 1.0 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.4 percent in December 2021 and 0.9 percent in November.

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Inflation Rose at the “Faster then Expected ” Pace of 7.5%

Fed Chairman Jerome Powell

Inflation the largest 12-month increase since the period ending February 1982

the staff of the Ridgewood blog

Ridgewood NJ, the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in January on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 7.5 percent before seasonal adjustment. Increases in the indexes for food, electricity, and shelter were the largest contributors to the seasonally adjusted all items increase. The food index rose 0.9 percent in January following a 0.5-percent increase in December.

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‘Crocodile of Wall Street’ and Her Husband Arrested for Alleged Conspiracy to Launder $4.5 Billion in Stolen Cryptocurrency

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Government Seized $3.6 Billion in Stolen Cryptocurrency Directly Linked to 2016 Hack of Virtual Currency Exchange

the staff of the Ridgewood blog

New York NY, two individuals were arrested this morning in Manhattan for an alleged conspiracy to launder cryptocurrency that was stolen during the 2016 hack of Bitfinex, a virtual currency exchange, presently valued at approximately $4.5 billion. Thus far, law enforcement has seized over $3.6 billion in cryptocurrency linked to that hack.

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Important Things You Should Consider Before Investing In Crypto

Utah Software Engineer Mints Physical Bitcoins

The crypto market is extremely volatile. This means that it is important to understand what you are investing in before pouring your hard earn cash into the virtual currency markets. Usually, when someone thinks about cryptocurrencies, they immediately associate them with high returns. Although this may be true, the cryptocurrency markets still have a lot of risks that many traders do not take into consideration when making their trades or investments. The following includes an introduction to cryptocurrency and some very important things that all traders should consider before deciding to invest in any cryptocurrencies.

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GDP Grew at a Stronger than Expected 6.9% Pace

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the staff of the Ridgewood blog

Washington DC, Real gross domestic product(GDP) increased at an annual rate of 6.9 percent in the fourth quarter of 2021 , according to the “advance” estimate released by the Bureau of Economic Analysis. In the
third quarter, real GDP increased2.3 percent.

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FED Leaves Rates Unchanged

Fed Chairman Jerome Powell2

the staff of the Ridgewood blog

Washington DC, the Federal Reserve kept its interest rates range at near-zero levels Wednesday but hinted at future tightening and balance sheet realignment.  The Fed signaled a slow and steady approach to surging inflation.

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An Easy Guide To Understanding How Offshore Trusts Work

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Offshore Trusts offer a safe haven from the courts and creditors of other states and help you avoid both your own country’s tax system and their banks’ reporting requirements. Offshore trust laws provide a level of confidentiality and privacy that many people find attractive.

Your money is separate from the client operating the trust, so there is no way for the courts to make you reveal any financial information. The trustee will only disclose this information to appropriate parties.

Originally, Offshore Trusts were used by people who had concerns about their own governments and wanted to secure their assets outside the reach of their home country’s legal system. However, there are several reasons why you could set up an Offshore Trust.

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White House to Release Executive Order on Crypto as Early as February

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Ronald Reagan “Most Terrifying Words – ‘I’m from the government and I’m here to help.’”

the staff of the Ridgewood blog

Washington DC, more bad news ,the White House is preparing to release an executive order as early as next month that will outline a comprehensive government strategy on cryptocurrencies. Many agencies have issued guidance letters, informal statements, and public rules regarding crypto laws, but these efforts have not yet been coordinated into a single document. Senior officials have met multiple times to discuss the directive and federal agencies have been studying or providing regulatory guidance around digital assets for years.