Imagine receiving an email from an online payment or shopping site in which you are a registered member. The email says something like this: "We suspect an unauthorized transaction on your account. To ensure that your account is not compromised, please click the link below and confirm your identity." The transaction is for a large sum of money, so you panic, wanting to prevent this fraudulent purchase.

Or maybe it’s this message: “This is a notification of depleted funds in your account. Please confirm your payment information to prevent your account from being closed.” When you click, the page requests your full card number and expiration date and claims this is for verification purposes. If you give that information, you've just been phished!

Land remains one of the best investments people can make and since we can’t ‘create’ more land, Florida Topland Inc.’s job is to ensure that its clients get their piece.

President of Florida Topland, pastor and businessman, Dr. Dennis Grant, says his primary reason for finding land is to focus areas that have the maximum potential for positive growth. In fact, he holds that the key to wealth building is through real estate as it is the safest investment with the highest return.

One example he uses is South Florida, where hundreds of acres of land were just swamplands, and now they are built up and have become some of the best communities and business places. This is why he says his company looks for the lands that have potential to spur economic development.

However, with the current economic climate in the US, particularly in Florida, business from his US clients are slower than usual, Dr. Grant told the National Weekly. “It’s land; so people are still buying. Business is still doing good, but not what it used to be a year or two years ago, because of a real estate recession. So because of that we are going into new markets like Canada, Jamaica, Bahamas and London.” People in other countries, are taking advantage of the sales he says. Grant makes it clear to overseas clients, that they do not need US green cards or citizenship to own land here.

A point stressed by opponents of the property tax amendment which was approved by Florida voters on January 29 is that the implementing of the amendment would result in loss of revenue to the various city governments. Under the amendment Florida residents will retain property tax benefits when they purchase a new home and receive increase in homestead exemptions which should reduce annual property tax on an average $240 annually.

A recent report in the Miami Herald indicates that some cities are preparing for the negative reaction on their budgets.

Aventura is preparing for a million dollar fall in its revenue, to be met by eliminating special events held in the city and travel for city employees. In Davie, some 20 positions in the city administration were frozen including positions in that city’s police department. However, the city has been able to alleviate any pressure on the police department by arranging longer shifts of 12 hours.

Some amount of emphasis has been placed on the effect that the current economic problems have been having on consumers, however, we need to also look at the impact these lean times are having on businesses, particularly small businesses.

There are thousands of small businesses, mostly owned by minorities, that boost the US economy, and this is no different in South Florida. Some employ one or two people; others hire much more. Almost all of these businesses are dependent upon strong consumer spending to survive. However, as consumers spend less because of budgetary constraints, small businesses suffer. Already signs of this are occurring.

Discussions with several small business retailers at the Swap Shop in Sunrise indicate that there has been a significant decline in sales. One man, who employs his entire family – wife, two sons and daughter – to work with him in a jewelry business, told the National Weekly that his sales have fallen by over 50 percent compared to this time last year. “People just don’t have the money to buy items like jewelry now. The priority is food and petrol.” Asked if he thinks the recently announced economic stimulus plan will help, he shrugged his shoulder saying, “I doubt people are going to spend much of this money. I think they will try to pay off their debts, like credit card debts, rather than rushing out to buy things like jewelry.”

According to another small business operator who runs a chain of Caribbean restaurants in South Florida, who preferred to remain anonymous, he has already begun to downsize the business. “People are just not spending as much on cooked food as they used to, just a few months ago. The problem is people have very little money to spend outside of their basic domestic needs. It’s bad, but we have to cut our budgets to fit the times.”

In the attempt to stave off the escalating crisis in the American economy, which is now having a serious impact on the international monetary market, the Federal Reserve announced a sudden emergency cut of ¾ percent in short-term federal funds interest rates. Immediately, some people think that this reduction means that the interest rate on all credit, particularly mortgages, will be declining.

While the fall in interest rates does make some kinds of borrowing cheaper, the interest rate cut was really meant to stimulate the general economy, providing easier termed loans for businesses. However, the impact on consumers, where there is any, could be delayed.

For example, as it pertains to mortgages, the rate cut does not affect borrowers with fixed mortgage rates. Most Adjusted Rate Mortgages (ARMs) are linked to the London InterBank Oxford Rate or Libor, which are not immediately affected by the decline in the federal funds interest rate. However, some ARM’s are linked to one-year Treasury bills and borrowers with such loans could see reduction in their interest rates.