National Debt Relief Stimulus Plan Fights Recession and Unemployment

The U.S. economy has lost 5.7 million jobs since the recession began in December 2007. This frightening loss, which heightening the $2.3 trillion consumer debt epidemic, incapacitated huddles of Americans to default on financial obligations to their creditors. Aiming to curb the unemployment crisis, DebtFreeLeague.com rolled out the National Debt Relief Stimulus Plan. The incredible debt reduction benefit couldn’t have arrived at a more opportunistic time. [more...]

Date: 2009-09-05 09:06:40

Blog posts (44) | Videos (1)
 

Cut Costs On Your Restaurant Bill – Eat At Home

This is a guest post from Trisha Wagner, a freelance writer for DestroyDebt.com. Destroy Debt is a debt community featuring debt forums. Trisha writes regularly on the topics of getting out of debt and personal finance ... with staggering debt levels, unemployment and reaching the end of their credit limit. The restaurant [more...]

Date: 2009-01-06 11:00:02

Time to get back to basics (pfblogs.org)

Millions of people in the US are feeling at least a little pain as the market whipsaws and home values go down ... .  The people feeling the most pain now have more mortgage debt than they can handle, the inability to refinance that debt, perhaps a lot of credit card debt, and maybe even unemployment.  People ... ... [more...]

Date: 2008-10-03 00:47:04

Time to get back to basics

Millions of people in the US are feeling at least a little pain as the market whipsaws and home values go down.  The people feeling the most pain now have more mortgage debt than they can handle, the inability to refinance that debt, perhaps a lot of credit card debt, and maybe even unemployment.  People [more...]

Date: 2008-10-03 05:36:52

"The $10 Trillion Hangover"...

You gotta read this...(Apologies and thanks to Harper's, etc.)The $10 Trillion Hangover: Paying the Price for Eight Years of BushBy Linda J ... , trade deficits, and debt have reached record levels. Unemployment and inflation ... , 5 million more Americans have no health insurance. Consumer debt has almost doubled, and nearly [more...]

Date: 2009-01-11 13:21:00

Rogoff on banking led recessions

I had read the research by Rogoff and Reinhart a couple of weeks ago forgot to blog about it and reader Thierry Janaudy resent it to me (thanks) ... recessions. They study real estate impact, equity impact, unemployment, GDP, public debt and duration ... read as it is mostly historical data, with no analysis and models. It is also very sobering. Below [more...]

Date: 2009-01-14 18:20:18

UK’s Marks and Spencer to sack 1,000 employees

UK fashion retailer Marks and Spencer will announce the sacking of 1,000 employees tomorrow after experiencing dire Christmas trading ... have had an emergency restructuring team sent in from Deloitte. According to The Times, these stores employ ... its three billion pound debt. Unemployment is now rising at a faster rate than during the 1990s [more...]

Date: 2009-01-06 10:33:19

Will You Be Pittsburgh or Detroit? AND Please Don’t Be Dubai!

My buddy Mike has a fantastic post titled ‘Will you Be Pittsburgh or Detroit‘. Basically, Pittsburgh reinvented themselves. As Mike eloquently states: Many of us are faced with the same issues that Pittsburgh and Detroit faced - unemployment, growing debt, lost wealth, skills that are no longer valued or even needed [more...]

Date: 2009-01-12 13:06:17

Guest Post: Yesterday’s Wisdom Applied to Today’s Problems

By Richard Larsen With the plethora of wise men and women who have preceded us in this mortal sojourn, ... worth of stimulus (national debt), and a massive infrastructure building program to “stimulate the economy,” (more national debt) Churchill’s statement seems, well, “Churchillian.” Unemployment [more...]

Date: 2009-01-10 00:00:55

Authorized Users, Debt Settlement and Negotiating When You’re Unemployed

One of our readers, Jaclyn, had this question for us: If I removed an authorized user from an account, ... amount and attempt to settle your debt. However, most companies do not like to tackle debt settlement ... the offer to the collection department. Just be aware that if you do go past due in order to settle [more...]

Date: 2009-01-09 15:16:56

Things Change (For Some of Us)

I was listening to a podcast of a batch of talking heads recently ... of demagoguing can erase them. These aren't opinion, but the kind of statistics that tell the tale of the Bush ... $50,233 Unemployment rate 3.9% 6.7% Consumer debt [more...]

Date: 2009-01-05 22:59:38

Authorized Users, Debt Settlement and Negotiating When You’re Unemployed

One of our readers, Jaclyn, had this question for us: If I removed an authorized user from an account, ... regularly reports your account activity to the credit bureaus then the removal should be reflected ... amount and attempt to settle your debt. However, most companies do not like to tackle debt [more...]

Date: 2009-01-09 05:11:55

Spend, Spend!

by paradox In the last 120 days I’ve diligently practiced what is called the paradox of thrift: ... pain of simply being broke with unemployment or crushed with healthcare costs. Fear, debt and lack ... out there. An outgrowth of classic ancient spiritual practices, simplicity cannot forever erase consumer demand [more...]

Date: 2008-11-20 15:51:07

Better Hope the “Blame Bush” Part Works

Better Hope the “Blame Bush” Part Works Jennifer Rubin - 12.22.2008 - 12:48 PM Well, let’s give Alice Rivlin credit ... concrete results in areas such as providing mortgage relief or extending unemployment benefits ... a legacy of debt, transforming the biggest surpluses in history into the biggest deficits and affecting [more...]

Date: 2008-12-22 17:48:14

Housing Market Might Not Bottom Until 2010, Report Says

Economists Kenneth Rogoff of Harvard and Carmen Reinhart of the University of Maryland have a particularly grim view of the economic outlook ... market rebound isn’t in sight, the unemployment rate could exceed 11% and government debt ... Industrial Average below 6500 before this is done. Moreover, government debt reaches 86% of gross [more...]

Date: 2009-01-05 13:33:35

Bubble Economics: Did we Learn our Lesson?

Have we really learned our lesson? We must open by addressing the fact that we support all methods and creative fiscal devices promulgated to ... a U.S. unemployment rate of 7.2%.The debt-riddled, exasperated consumer refuses to spend amidst this backdrop [more...]

Date: 2009-01-12 20:27:00

Reader Question: My student loans went into collections! How do I get it off my credit score?

Reader's QuestionHi FB,A couple of months ago I was denied a student loan deferment and forbearance although I was unemployed and not earning any ... , like Debt Counselling of Canada. They should NEVER CHARGE YOU ANYTHING for their services ... debt shows. [more...]

Date: 2008-12-01 22:11:00

Jobs Looking Increasingly Dismal Already

For those unfamiliar with how jobs and wages adjust in economic downturns, please see the Austrian Theory of Unemployment ... Canadian Coal trust, mostly with debt financing.Job losses are global, and China is not immune; Lovono [more...]

Date: 2009-01-08 16:22:00

Starving the Unemployed

During the Bush administration, the federal debt ” nearly doubled,” going from $5.7 trillion to $10.6 trillion ... policy. Many denied that government could help, government is always the problem, never the solution ... of us were so worried about has now come to pass. Because of the high levels of government debt [more...]

Date: 2009-01-09 01:44:44

Debt Settlement Attorneys – Are Their Services Recommendable?

Many American companies have downsized their work force, eliminated jobs, and some have gone out of business altogether over the past few years. This has left many individuals unemployed or underemployed for extended periods of time. Personal debt has skyrocketed during this time, because of these dwindling incomes. Is it advisable to use the services of a debt settlement attorney if an individual’s personal debt becomes overwhelming? [more...]

Date: 2009-09-21 06:01:42

I am Oscar Grant. I am Adolph Grimes. I am Sean Bell. I am Amadou Diallo. etc.

2009 opens up with a historic unemployment rate and horrible economy. Another grave debt comes from our law enforcement ... discovered the murder of his son on the 5 o’clock news. Sincere condolences are due to the family [more...]

Date: 2009-01-08 19:34:59

Obtain Financing By Declaring Your Intent To Repay Your Loan

Lenders are not in a hurry to lend to those who are self employed, ... or unsecured self-employment loan. A self employed person may be rejected on their loan because ... and they are unlikely to be covered for unemployment unless they stop operating their business.  A debt [more...]

Date: 2009-01-03 04:01:17

Starving the Unemployed

During the Bush administration, the federal debt " nearly doubled," going from $5.7 trillion to $10.6 trillion ... of us were so worried about has now come to pass. Because of the high levels of government debt [more...]

Date: 2009-01-09 00:23:00

Alternate reality alert

MacDoctor highlights a visit to an alternate reality by Phil Goff” There is an old adage that if you are going to lie, ... projected Debt to increase by over $30 billion from 20% of GDP to 30% of GDP Inflation at 5% Unemployment ... on effects to income and lead to increased debt. Tags: Economy, MacDoctor, Phil Goff [more...]

Date: 2008-12-04 21:05:18

Capitulation

Capitulation I have heard arguments, which I want to be persuaded by, ... ). Americans genuinely, desperately, need to pay down debt, which means buying fewer goods ... when he identifies a massive structural unemployment problem. The financial and housing sectors were grossly [more...]

Date: 2009-01-12 20:47:16

NZ economy faces stagnation

WELLINGTON (New Zealand) - NEW Zealand's battered economy faces a year of stagnation with no recovery in sight until 2010, ... to liberalize the economy, reform regulations and revive confidence in a deeply negative business sector ... the unemployment rate climb to 7.5 per cent from 4.3 per cent now. Government debt was forecast to rise [more...]

Date: 2009-01-15 08:14:00

The Political Case for a Strong Stimulus Bill

The Political Case for a Strong Stimulus Bill Although Obama's proposed stimulus plan is better than what Bush would have devised, his own economic team admits it doesn't do enough to reduce unemployment: “Full employment” ... that won't be effective, but will burden us with greater debt as we plunge deeper into recession [more...]

Date: 2009-01-15 19:06:36

How Official Economic Numbers Have Deceived Us

Following up on my post earlier today about the difference between unemployment and underemployment, ... measurements help determine interest rates, federal interest payments on the national debt, and cost [more...]

Date: 2008-12-07 16:00:57

Personal Decisons When Filing Personal Bankruptcy

by Grace Holt Unemployment has reached a fourteen-year high. Bankruptcies in Florida are no exception ... walking away form debt becomes a moral decision. This is especially true in the Christian community ... citizens to function. Drowning in debt will never produce productive citizens. Is bankruptcy right [more...]

Date: 2009-01-13 12:14:46

Summary of Corker proposals the UAW rejected

Jackson Baker, the accomplished senior editor of the Memphis Flyer provides us with the draft “Corker plan”, ... it proposed: Comments in parenthesis are mine. 1)Debt Load Reduction (bond holders would ... would probably be ahead) 4)Elimination of Jobs Bank and Supplemental Unemployment Benefits [more...]

Date: 2008-12-15 16:38:15

Surviving A Recession

We are all facing tough economic times. There is not denying it, though it seems like until the last few months, ... control of your debt, you are not alone. Take a look at this online debt payoff calculator to help ... every month just to keep up with past credit card usage. Prepare for unemployment. US job numbers [more...]

Date: 2008-10-10 14:27:55

Alt-A and ARM resets could trigger another crisis!!!

We are winding down out of subprime and going into Alt-A and ARM resets. We have government funding for homes in two ways. One, incentives with lower rates and tax credits, but, there is more. The GSE’s are allowing loans that are 105% and where the monthly debt to income is over 60%. These loans have high default rates and we will pay the price as unemployment stays high. quote Let’s look at a few facts: The Fed is literally the entire mortgage market. Yes, really. [more...]

Date: 2009-09-29 18:15:58

Thursday morning links

#fullpost{display:inline;}TOP STORIESBOE Cuts Rate to Lowest Since Bank’s Creation in 1694 - BloombergState unemployment claim systems overwhelmed - ... - MarketWatchINTERNATIONALBank of England cuts interest rates to lowest in more than 300 years - TelegraphU.S. debt ... for housing prices - Fort McMurray TimesHOUSINGNo Recovery for Real Estate as [more...]

Date: 2009-01-08 13:57:00

Christmas competition: ten reasons why Gordon must go

As if this wasn't enoughWe are in the midst of the greatest financial crisis since the 1930s. Soon there will be three million unemployed ... is clear. The value of the pound plummets and our children are to be handed a lifetime of debt. And yet [more...]

Date: 2008-12-11 16:48:00

Government Public Records Search - Why Your Personal Information May Not Be Safe

So how private is your private information? Did you know that your records can be made available government public records to just about anyone with ... lawsuits, employment and unemployment. Your bankruptcy filing, which also contains credit card ... to serve the interests of those seeking information on you such as financial institutions, debt collect [more...]

Date: 2008-12-12 17:38:18

Unemployed to reach postwar high: OECD

Well, you’re going to be unemployed for years, but the biggest banks are making record profits, so the economy is doing fine, just a little slow, or so we’re told. Recent: US credit shrinks at Great Depression rate prompting fears of double-dip recession | Nassim Taleb on the economy: ‘We still have the same disease’ | Flaherty sees deficit, debt, and timetable to return to surplus all expanding | Investors dump money market funds | Scotiabank: Global economy set to recover, China and [more...]

Date: 2009-09-16 11:31:21

Get Out Of Debt, Finally!

by Mike Edwards Everyone was affected by the recent, or rather, current US recession. From multinationals to car dealerships, to local pet stores, a lot had to close shop. The people whose employment or livelihood depended on these businesses eventually lost their homes and other possessions when they eventually got repossessed by the banks. The unemployed who had active mortgages eventually lost their homes or their cars, among other things. [more...]

Date: 2009-08-28 08:11:20

10 Life and Money Lessons Learned from Immigrant Parents

By Vincent Scordo My parents were both born in Southern Italy where unemployment is high and quality of life is superb. My mother, Annunziata, made it to the 7th grade and my father, Tommaso, has the equivalent of a technical high school diploma. Both of my parents immigrated to the US in 1975 and are currently debt free, own their own two-family home, and have plenty of cash in savings. They are, in many ways, leading the American dream – by not adopting the principles of American consumerism. [more...]

Date: 2009-09-21 14:00:04

Spending our way out of debt.......from Rico

Don't try this at home! Spending your way out of debt, by creating more debt just doesn't work for individuals, or nations. The OECD chart illustrates that public spending on the back of unsustainable tax revenues leads to structural deficits which will NOT vanish after the crisis is over. Policy measures across many nations will prolong the recession/depression, and lead to lower tax revenues and higher unemployment. [more...]

Date: 2009-09-29 07:14:00

UCI dean sees history lesson in financial crisis

Depression protests/Wikipedia We turn over our weekend interview this week to Andrew J ... s everyday lives. Business consolidators and their Wall Street advisers are creating large new ... and creditors overreaching in their use of debt, lowering the margin of safety in the financial system [more...]

Date: 2008-11-15 08:13:48

The Top 10 Internet Scams for 2009

"Rising unemployment and a global recession mean we expect to see a huge increase in e- victims this year" says Jennifer Perry, ... out. 6. Economy related scams - Loan and debt consolidation scams have been increasing throughout 2008 ... or spoofed websites - Phishing, domain hi-jacking, posting in forums are just some of the ways [more...]

Date: 2009-01-08 19:04:02

Depress

Here's an interesting picture showing the rate of unemployment now versus the much compared Great Depression of roughly eighty years ago ... in places like Cincinnati, where the erosion of the manufacturing base led to the elimination ... force, versus the debt laden, overspent Americans. The productivity increases of the economy over [more...]

Date: 2009-01-03 06:39:00

Suze Orman’s Free Book - Fixing Your Finances in 2009

Barack Obama’s speech warning of devastating unemployment levels and a lengthy recession was no surprise to most Americans ... to do this year. For example, the general Credit advice for 2009 is: Make it a priority to pay off your credit ... to get your FICO credit score above 720. Be very careful where you turn to for help with credit card debt [more...]

Date: 2009-01-09 13:29:00

Unemployment Rate Thoughts…

With the ADP for December coming in at a big loss of 693,000 private sector job loss, way higher than the 556, ... through December, with the $SPX ending about 2% up on the month.  The only problem with December ... .  Because corporations with large short and long term debt amounts (Alcoa and the Auto Dealers, for example [more...]

Date: 2009-01-09 04:45:39

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