Profit from the Evening News: Using Leading Economic Indicators to Make Smart Money Decisions

Economist Bussing-Burks clearly defines and explains nine key economic terms that have become part of the financial jargon used by newscasters, but whose relevance to the average American (and general reader) may not be readily apparent. She walks readers through such terms as ""M2 money supply,"" ""federal funds rate"" and ""durable goods orders,"" explaining how they're determined or set, why they're important to the government and to businesses, and how individuals can follow them. Promising that ""your timing will be better, your investments will be more profitable, your borrowing less costly, and your grasp of money matters more skillful,"" Bussing-Burks show how the benefits can be clear-cut. For example, she says that a good time to job hunt is when unemployment insurance claims are falling, since unemployment claims begin declining about two months before the economy picks up. If readers have steadily followed this financial marker, she believes, they will be able to figure out whether to ask their managers for a raise, consider looking for part-time rather than full-time work or think about going back to school. Though Bussing-Burks capably explores eight other economic indicators, what's missing is practical advice on how readers can apply what they've learned to their own financial strategies. Lacking concrete guidelines for applying the author's insights to portfolio management and other areas, or even just comments from financial planners, this book doesn't fully deliver on the title's promise. (Apr.)