The 10 Most Counterfeited Products in America

[caption id="attachment_2355" align="alignnone" width="630"] Associated Press/Bullit Marquez - A Government worker uses a cutter to slash a counterfeit Louis Vuitton handbag during a ceremonial destruction of counterfeit goods seized in raids recently at parade grounds of the Philippine National Police at suburban Quezon city, northeast of Manila, Thursday June 30, 2011. The ceremonial destruction of pirated DVDs and other counterfeit goods was done to coincide with the global celebration and awareness campaign known as World Anti-Counterfeiting Day. (AP Photo/Bullit Marquez)[/caption]

The American economy loses $250 billion as a result of counterfeit products each year, according to a recent report. Despite the impact, only a fraction can be detected and confiscated by the government.

Approximately $1.26 billion worth of counterfeit goods originating overseas were seized by the U.S. Customs and Border Protection (CBP) in 2012. Each seizure averaged $10,450 worth of counterfeit goods. The three most confiscated items in 2012 were handbags and wallets; watches and jewelry; and wearing apparel and accessories. 24/7 Wall St. reviewed the 10 most counterfeit items seized in 2012, based on their retail value.

[More from 24/7 Wall St.: The States with the Most Homes in Foreclosure]

The value and the number of seizures changes dramatically each year due to the products sold and the success of CBP operations. The value of handbags and wallets seized in 2012 rose 142% compared to the previous year. Therese Randazzo, the director of the Intellectual Property Policy and Programs Division for the CBP, explained that CBP officials may seize knockoffs of more expensive brands in one year than in another. Read the entire story

Promising progress from the Nigerian economy

Nigeria’s impressive economic growth seemed to be faltering in 2011 as the global recession took its toll, but recent legislative changes suggest a brighter financial future, says Koye Edu, Managing Partner of Jackson Etti Edu

Over the past decade, Nigeria’s economy has witnessed substantial growth, and the economy grew at an annual average of 7.4 percent. In 2011, economic growth dropped marginally by 0.18 percent. At the outset of 2012, the big question was whether Nigeria would be able to withstand the effects of the slow growth being experienced in Europe. In spite of the concerns, the IMF predicted a 7.1 percent growth rate for the Nigerian economy in 2012 and similarly the 2012 Budget of Nigeria assumed a growth rate of 7.2 percent, based on the recovery of crude oil output in 2012 and the credible performance of non-oil sectors like agriculture and services.

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Carry Trade

Did you know there is a trading system that can make money if price stayed exactly the same for long periods of time?

Well there is and it's one the most popular ways of making money by many of the biggest and baddest money manager mamajamas in the financial universe!

It's called the "Carry Trade".



A carry trade involves borrowing or selling a financial instrument with a low interest rate, then using it to purchase a financial instrument with a higher interest rate.

While you are paying the low interest rate on the financial instrument you borrowed/sold, you are collecting higher interest on the financial instrument you purchased. Thus your profit is the money you collect from the interest rate differential.

For example:

Let's say you go to a bank and borrow $10,000. Their lending fee is 1% of the $10,000 every year.

With that borrowed money, you turn around and purchase a $10,000 bond that pays 5% a year.

What's your profit?

Anyone?

You got it! It's 4% a year! The difference between interest rates!





By now you're probably thinking, "That doesn't sound as exciting or profitable as catching swings in the market."

However, when you apply it to the spot forex market, with its higher leverage and daily interest payments, sitting back and watching your account grow daily can get pretty sexy.

To give you an idea, a 3% interest rate differential becomes 60% annual interest a year on an account that is 20 times leveraged!

In this section, we will discuss how carry trades work, when they will work, and when they will NOT work.

We will also tackle risk aversion (WTH is that?!? Don't worry, like we said, we'll be talking more about it later).