Bailout Response

This week our country decided to bailout the economy with a $700 million in aid to lenders so there wouldn’t be a total collapse ... it is about financial loss or profit. In America we have cultivated an attitude of consumer spending that has led to consumer debt.  Not only do we have national debt increasing, but household debt [more...]

Date: 2009-01-14 06:55:55

Blog posts (14) | Videos (5)
 

Keeping Up with the Joneses...Reader's Submission

“Keeping up with the Joneses?” By: Nicole Little Some may say that the quote, “Keeping up with the Joneses" ... -workers and or associates. Well, I guess now we all are paying for Mrs. Brown trying to be Mrs. Jones ... ' average credit card debt in 2007 was $8400 per household. By the end of 2007, consumer debt in America [more...]

Date: 2009-01-15 12:54:03

Credit card crackdown coming soon!

The Fed is set to vote Thursday on a number of key protections for credit-card customers. Issue #1: America’s Money Crisis Oh Gee, Wow! ... to get out of the spiraling clinches of “Credit Card Hell” and take back your credit worth reputation. This is NOT– Debt Consolidation, Debt Settlement, Arbitration or Credit Consumer Counseling. Don’t even [more...]

Date: 2008-12-18 01:12:11

America's gift to the world -- credit cards and debt

Guess what country this paragraph from a New York Times story describes: Outstanding card debt here ballooned to nearly $18 billion last year, ... -high interest charges. It's Turkey, where less than a generation ago consumer debt was almost unheard ... of the NYT's powerful series called "The Debt Trap" -- describes the spread of easy credit [more...]

Date: 2008-08-11 20:27:41

The Guns For Tots Program…

The Guns For Tots Program… December 12th, 2008 Pop culture is like the re-niggerfication of America ... are so resourceful. The real problem is when broke ass kids start getting some money. To be a consumer ... to consume shit and to go into debt poor people are creating art that mirrors those values [more...]

Date: 2008-12-13 00:34:05

The Collapse of Personal Savings Rate in America

This year’s dramatic shift in the economy found many Americans without a ‘rainy day’ fund.  Millions of Americans lost their jobs and saw their 401(k) wiped out.  It is unsurprising then to see that the trend of personal savings rate has been on a fast-pace decline since the mid 1980’s, reaching decade-low levels in recent years.   The following graphic shows the trend of personal savings rate per month from 1959 to 2009, along with an alarmingly opposing trend of rising consumer debt. [more...]

Date: 2009-09-29 15:15:49

Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out.

Credit card lenders include Discover Financial Services LLC, Bank of America Corp., Citigroup Inc., JPMorgan Chase & Co ... with the help of the National Foundation for Credit Counseling, Consumer Federation of America and the Financial Service Roundtable to start the process of creating a debt solution, other than [more...]

Date: 2008-10-31 15:51:17

Consumers' New Found Embrace of Savings Will Make for a Nasty Downturn

The blow to many Americans' net worth via diminished home values and shrunken retirement accounts has lead to a new found insecurity and ... by credit card companies, banks, and auto lenders getting more stringent and, where applicable, cutting ... are not particularly keen to extend credit to them. We have long warned that America's debt-fueled [more...]

Date: 2008-10-21 04:06:27

Credit card debt and a bad market are hurting US residents

Today here in the great country the United States of America we are sensing the full blown end product of what a economic slump can do ... in unsecured consumer credit card debt are also the ones who are going through the most problems. People ... about to get out of debt. These methods include the world renowned credit counseling, credit card debt settl [more...]

Date: 2008-11-05 00:02:15

What kind of stimulus is needed right now?

Much attention has been placed in the media regarding President-elect Obama’s stimulus plan ... one will, in the words of an old song, merely leave America "another day older and deeper in debt."The cause ... modest increase thereafter. One estimate suggests a drop in consumer demand of roughly $500 billion [more...]

Date: 2009-01-14 22:45:00

Aide with credit card debt is a must for a large number of US consumers

Presently here in the great country of the America we are experiencing a uncharacteristically hard economic cycle financially ... of Americans is the monster of unsecured credit card debt. We have reached an all time high here in the USA ... settlement. Debt consolidation loans can turn out to be pretty precarious. Reason being [more...]

Date: 2008-12-19 14:51:00

Credit card debt and a bad market are hurting debtors

Recently here in the superpower country the United States of America we are sensing the full blown result of what a economic slump can do ... in unsecured credit card debt are also the ones who are going through the most hardships. People should ... . These methods include the world renowned consumer credit counseling (CCCS), credit card debt settlement [more...]

Date: 2008-12-14 16:07:23

Credit Card Issuers See the Writing on the Wall: Forgiveness of Debt — they also got paid in full through securitization, so there is no obligation owed to them

Credit Card Companies Willing to Deal Over DebtBank of America says it eased off on more than 700,000 credit card holders in 2008, ... to foster the explosive growth of consumer debt in recent years, credit card companies are realizing ... and card companies are bracing for a wave of defaults on credit card debt in early 2009 [more...]

Date: 2009-01-05 00:34:25

The Last 30 Years Weren’t Good For America’s Financial Picture

by William Blake The answer to that lies in remembering just what we were like in the late seventies, and where we are now ... mainstream consciousness with the advent of electronic payment processing. Credit card debt ... a credit card became a little tougher. Consumers in the late seventies were by and large cash [more...]

Date: 2008-10-29 15:56:05

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