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Forget the Cabbage Soup – 2009 Is Time For The Skinny Debt Diet

Each year, after the festive red and green envelopes in the mail have been replaced by thick white ones with the foreboding “Your Statement ... , and will continue after that with weekly update posts. We’ve created a Skinny Debt Dieters group ... reduction in 2009 and would also like some great advice for healthy living, this is the group [more...]

Date: 2009-01-06 18:15:37

Blog posts (127) | Videos (24)

Personal Finance Hard Truth Week in Review – It’s Almost Over Edition

The campaign is in its final days.  I expect we will have six months or so before the next group of presidential wannabes begins making noises about ... of Debt Reduction and my post on Shouldn’t We Burn Credit Cards in Protest?  Oh - that candy your kids ... a website that includes their amazing tax saving calculator.  Apparently, you input your income [more...]

Date: 2008-11-01 13:34:12

Bogus and Scam Credit Counseling Groups Become Target Of Florida Legal System

TALLAHASSEE, FL - Attorney General Bill McCollum today unveiled his office’s latest consumer protection initiative in the form of a coordinated ... , all of which were purportedly offering debt relief services including credit counseling, credit repair, debt management, and credit card rate reduction services. “As more Floridians facing financial [more...]

Date: 2008-10-21 05:39:01

Today in Russian Business - Dec 29, 2008

In trading on Monday, the Russian ruble again fell to a record low against the euro as the Central Bank again widened the band to loosen its defense ... payments from the debt-burdened group, which could cause another shake up between Oleg Deripaska ... is expected to suffer its biggest decline in 60 years, with a big reduction in orders hitting Russia's [more...]

Date: 2008-12-29 16:19:41

The Economy is a Lie, too

Dr. Roberts is a former assistant Secretary of the Treasury, so he knows whereof he speaks on economics issues. And, for the record, he was equally scathing of economic policy under Bush II’s regime. Flashback: 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: [more...]

Date: 2009-09-22 12:19:52

Rep Wants To Show AIG Love

Continuing to rehabilitate his formerly tarnished image, Maurice ”Hank” Greenberg has been peddling a proposal to restructure the debt of American International Group (AIG) . Despite what would seem like an inhospitable climate for a nakedly self-serving initiative, Greenberg has gained some traction with Congress. Greenberg met with Rep.. Edolphus Towns, the chairman of the House Oversight and Government Reform committee, to pitch his proposal for resetting AIG’s debt. [more...]

Date: 2009-09-21 15:28:18

September 18 2009: Rumble in the Number Jungle

Detroit Publishing Co. Sustainable transport 1905 Alfred Vanderbilt's Belmont Park four-in-hand passing the Holland House Hotel on Fifth Avenue, in the days when "coaching" was a favored pastime of millionaire sportsmen Ilargi: These days I can't seem to look at numbers anymore without asking myself what's behind them. Hey, who can? 90% of them are embellished crappahola, and we're still stuck trying to figure out what they mean if we want to know what lies ahead. [more...]

Date: 2009-09-18 10:01:00

The Housing Crisis is Over?

I saw the graphic down below at Washington’s Blog and first sent a link to a friend whose business is basically dependent upon Housing restarting (He sells equipment that is involved with making furniture). I heard from this group while I sold for them up until I shut down my business and started working for another that housing was on its way back. I would regularly receive links and articles from sources that were nothing but the most optimistic opinions and they would never send bad news. [more...]

Date: 2009-09-21 12:00:33

Gordon Brown urges EU to back new economic order

It’s pretty transparent that the new world order Brown keeps shilling for is being marketed to us as a way to ‘get the bankers’. This is a trick, since it will simply deliver economic power into the hands of a centralized clique of international bankers. The proper solution would be simply to prosecute and prohibit forms of fraud such as derivatives, which always cause the problem in the first place, like clockwork , at the behest of the aforementioned clique . [more...]

Date: 2009-09-18 23:30:16

Communique Issued and Obama Speaking Now

You can watch him live here: The text of the communique is below. Leaders’ Statement: The Pittsburgh Summit September 24 – 25, 2009 PREAMBLE 1. We meet in the midst of a critical transition from crisis to recovery to turn the page on an era of irresponsibility and to adopt a set of policies, regulations and reforms to meet the needs of the 21st century global economy. 2. When we last gathered in April, we confronted the greatest challenge to the world economy in our generation. [more...]

Date: 2009-09-25 21:36:12

The Need for Greater Transparency

by State Rep. Jason Murphey (OK-31) I have either been involved in or closely observed some level of government for almost ten years. In that time I have studied a series of local, county and state government entities, as well as an array of government public trusts. I have spent a good deal of time listening to those groups argue about why they needed to continue receiving taxpayer largesse, need more taxes and fees, or want approval for new debt spending. [more...]

Date: 2009-09-28 14:25:34

Guest Post: Exposure At Default – As Banks Shrink, So Does The Economy

Zero Hedge Submitted by Chris Whalen, Institutional Risk Analytics “I was just reading your testimony on subjectivity and risk in models. I agree, though isn’t the contrast between objectivity and subjectivity more of a continuum? Think about banks. Only 100% reserves makes a bank objectively safe from runs. Once you move to fractional reserve banking you have to accept some subjectivity and make assumptions to model the right level of reserves in order to assess risk. [more...]

Date: 2009-09-17 16:20:49

In The News Today

Dear Extended Family: Please watch the following video and keep these points in mind: 1. That it comes from CNBC. 2. That is was presented without the usual argumentation from interviewers. 3. That it errs only in saying gold is the enemy of all central banks which we know is incorrect for Asia and even the Germans who are now backing off selling. Better said, gold is the enemy of some central banks. 4. Its major reference is to the US dollar. 5. [more...]

Date: 2009-09-27 23:20:59

G20 nations meet as protests flare on issue of international banking regulation

Again, the summit is being presented as a way to get the bankers, when it is in fact a further centralization of banking power. The picture below tells you much of what you need to know about the G20. And for new readers, it’s not that banks are inherently bad. But at the international level, economies are being governed now by a syndicate of privately held central banks that operate above the law and print money with which to acquire real equity. [more...]

Date: 2009-09-24 22:35:28

In The News Today

Jim Sinclair’s Commentary This is an article written by Ron Paul that fits in nicely with our discussion this evening on the USA’s need for China and if the Administration’s advisors can see that need is as critical as it is. The Wall Street types who have no economic plan for the USA even up to a year away cannot work with or even understand a nation whose planning goes out a century. All they want to do is sell them OTC derivatives. [more...]

Date: 2009-09-21 23:55:00

Exposure at Default: As Banks Shrink, So Does the Economy

Here’s our latest item.  The reader comment at the top is great stuff.  A fishing buddy, all I’ll say.  Best,  Chris ~~~ Exposure at Default: As Banks Shrink, So Does the Economy The Institutional Risk Analyst “I was just reading your testimony on subjectivity and risk in models. I agree, though isn’t the contrast between objectivity and subjectivity more of a continuum? Think about banks. Only 100% reserves makes a bank objectively safe from runs. [more...]

Date: 2009-09-17 02:33:03

Carney says G20 must stay the course on stimulus

Those reading the transcript of the interview may be surprised to discover that, for all the lip service Carney gives the US dollar, Canada holds 40% of its reserve currency stocks in Euros. Holding Euros is not recent - government reports online dating back to 1999 indicate at the time 24 million in Euro reserves were held. there was a coordinated attempt to prop up the Euro in 2000, an effort in which Canada was a player. In 2008, the figure was 238 million . Just a little history. [more...]

Date: 2009-09-25 15:36:08

Bonita Bay Brawl: Are Club Members “Victims” Of Developer Lucas and KeyBank?

By Teri Buhl for BankImplode.com The developer of Bonita Bay Club, an exclusive golf community on Florida’s west coast, is using aggressive tactics to get the club’s members to pay off his debts and save him from bankruptcy, according to some disgruntled investors. Questions continue to swirl regarding whether the club’s group of lenders, led by KeyBank , who had lent the developer $120 million by securing club property, is aiding in the scheme. [more...]

Date: 2009-09-29 16:03:28

Constellation Energy Group Inc. Has Long-Term Potential, But Short-Term Problems

As the second-largest provider of electricity to the United States, Constellation Energy Group Inc. (NYSE: CEG ) has a tremendous upside. At least, it would if the economy were growing strongly.  Unfortunately, that’s not the case. And that means Constellation will have to clear a number of hurdles if it’s going to fulfill its long-term promise. Last year, the company bet big on higher energy prices and paid the price dearly when the economy collapsed. [more...]

Date: 2009-09-28 15:05:15

Weekly Roundup #45 (Links You Don’t Want To Miss)

Readers, Hope you’re enjoying the weekend. Miguel Barbosa -Founder of SimoleonSense SimoleonSense Weekly Favorite : How to Find Value Stocks and Ideas - Via Old School Value - To find the best value stock ideas, you need a competitive advantage over the next person when it comes to stock picking. I’ve been asked many times how I’m able to come up with the obscure totally ignored, low risk high return stocks. It isn’t difficult and I’m hear to let you in on how I do it. [more...]

Date: 2009-09-20 18:52:33

Reader Mailbag #81

Each Monday, The Simple Dollar opens up the reader mailbags and answers ten to twenty simple questions offered up by the readers on personal finance topics and many other things. Got a question? Ask it in the comments. You might also enjoy the archive of earlier reader mailbags . I know that predicting the market is impossible, but different people are saying drastically different things about where they predict the stock market to go in the next year or so. [more...]

Date: 2009-09-21 14:00:39

Rio Tinto Reduces Debt – Analyst Blog

Rio Tinto PLC ( RTP ), the heavily indebted miner, has now cashed in over $7 billion in total by selling its non-core assets after its merger with Canadian aluminum group Alcan. Last week, Rio agreed to sell its Alcan composites business to Switzerland's Schweiter Technologies for $349 million. The deal is expected to close by the end of the year. The company targets to sell $15 billion in assets to lighten its debt burden it piled up from the $38 billion acquisition of Alcan in 2007. [more...]

Date: 2009-09-25 19:18:01

Obama's New Stimulus Package Meets With Skepticism; Welcome To 1600 Pennsylvania Avenue

You are receiving this e-mail as a part of your subscription to Investor's Daily Edge. Your subscription began on Monday, December 31, 2007 ... facing seemingly insurmountable debt.  While I agree that our deficit spending is out of control ... $1 trillion, but no one (including the government) truly knows the exact figure.  One particular group [more...]

Date: 2009-01-12 10:00:00

Barack Obama Vows Future Budget Restraint

To a public wary of government spending, President-elect Barack Obama is offering a salve with his massive economic stimulus package: ... to embrace deficit-reduction goals even as he promotes a spending and tax-cutting plan — expected to cost ... debt that we have," said Rep. Dennis Moore of Kansas, a member of the congressional Blue Dogs [more...]

Date: 2009-01-07 11:35:48

The Kangaroo is Still Hopping

T oday was one of those days when a couple of trends came together that should be making us think seiously about changing our current fiscal and monetary policies. The first thing I was was this debt chart from John B Taylor that shows how our current policy will effect the national debt. Projected national nebt as a percentage of GDP This what you call your unsustainable debt path. [more...]

Date: 2009-09-25 03:07:24

Russia Behaving as Predicted by Birdnow

Timothy Birdnow Back in December I warned that Russia was planning some aggressive action against Ukraine, probably starting with a gas boycott ... the Kremlin’s demands for a sharp increase in gas prices. A similar reduction in supplies to Ukraine ... a barrel. Gazprom, too, is heavily in debt and sinking along with the energy market. “They do need [more...]

Date: 2009-01-03 21:09:19

Back to Work on PAYGO

Well, tomorrow it’s back to usual around the Concord Coalition offices… starting with a morning meeting about pay-as-you-go (PAYGO) budget rules ... has crusaded for federal deficit reduction and which represents a large enough force to block ... about deficit reduction” to support the plan, but with some conditions. The group wants to insert [more...]

Date: 2009-01-05 03:08:35

Restoring American Global Leadership, One Step at a Time

I think it's fair to say that after the last eight years we in the United States are not quite accustomed to what it is like to have a president that is genuinely popular oversees. This will clearly change under the Obama administration, and with Obama's popularity comes tremendous opportunity to re-affirm America's traditional role as a global [more...]

Date: 2009-01-14 16:16:02

White Pastor in gay scandal: I’m back from ‘wilderness’

…and ready for a massage by a gay prostitute(like last time).Speaking out two years after being embroiled in a gay sex scandal, former evangelical pastor Ted Haggard said Friday his sexual identity is complex and can’t be put into “stereotypical boxes,” but that his relationship with his wife is stronger than ever [more...]

Date: 2009-01-10 04:59:46

Pressure BioSciences (NASDAQ: PBIO): A New Paradigm for Sample Processing (PBIO, rated BUY)

Pressure BioSciences (NASDAQ: PBIO) is a life science research tools company that is commercializing and developing its innovative core technology platform known as pressure cycling technology (PCT). PCT uses cycles of hydrostatic (water-based) pressure between ambient and ultra-high levels (up to 45,000 PSI) at controlled temperatures to rapidly and repeatedly control interactions at the molecular level. [more...]

Date: 2009-09-19 20:02:54

Wait or Watch, but Don't Buy Weight Watchers International

Simply stated, when consumers are facing a sudden crisis over their savings, livelihood, and standard of living, ... significantly.  Their debt levels are extremely high.  Their profitability should be negatively ... are at risk.  This is a company that has never had to go on a "debt diet", but let's just say [more...]

Date: 2009-01-10 21:33:43

Dissecting the 2012 GOP Candidates

As more and more current and former elected officials signal to the media and conservative organizations their intention to seek the nomination in 2012, I decided to analyze where the candidates have positioned themselves in the Republican political spectrum, on both foreign and domestic policy.  I combined their legislative advocation, voting records and most recent statements and writings on public policy. [more...]

Date: 2009-09-28 12:31:50

Fonterra sets 08/09 payout at NZ$5.20/kg; retains 1 cent to repay debt (Update 1)

Fonterra has announced its financial result for the just completed year to July 31 and set a payout for the year NZ$5.20/kg of milk solid, including a milk price of NZ$4.72/kg and a ‘value added return’ or profit payment of 48 cents. This is unchanged from its most recent forecast in April, but down from the NZ$7 initially forecast last year before the global economy and wholesale milk prices slumped. (Adds detail on debt gearing and full statement). [more...]

Date: 2009-09-23 01:06:38

Improve Your Financial Life With Five Daily Actions

The year is drawing to a close, and soon people will be scrambling to declare resolutions for the New Year.  I am no exception ... out by March. The goals probably sound familiar:  lose 50 pounds, become debt free, write a book ... with the concept of snowflaking–collecting small amounts of “found” money and pooling [more...]

Date: 2008-12-11 11:00:34

Despite Reports, Nortel Operates as Usual

Reports are circulating that Nortel has declared bankruptcy and pieces will be sold off to foreign firms. Company sources say this is untrue ... from encouraging companies and individuals to take on as much debt as they can to abruptly stopping all financing and debt renegotiation. During the dotcom/telecom bubble, VCs poured money into companies [more...]

Date: 2009-01-14 22:14:40

IMF approves $13bn gold sale to boost lending fund

What this really accomplishes is two-fold. It depresses world gold prices, reducing the risk of flight from some the world currency the IMF is cooking up, and increases their kitty for predatory, string-attached loans which are then used to grab national resources. You’d think Guardian writers would know that. [more...]

Date: 2009-09-19 15:35:01

Teach Your Children Not to Bet Against Apollo Group

The numbers the posted last week were impressive indeed, and the internal/organic cash flow generation is a thing of beauty, as noted by ThinkEquity: ... leases. Bad debt expense remained subdued, dropping to only 3.6% of sales during 1Q09 from 4.2 ... . We expect bad debt expenses to remain below 4% of revenue during FY09. * Selling and Promotional [more...]

Date: 2009-01-12 20:01:48

Floatin' Powa News Service: Terminal Experiments

Elder of Ziyon: Goldstone Commission problems, part 8 One of the major sources that the Goldstone Commission heavily relied on in testimonies was TAWTHEQ. TAWTHEQ is quoted in the context of the Gaza war more often than HRW and seems to be mentioned in the report body about as often as PCHR (although PCHR is mentioned more in footnotes.) In other words, it seems that Goldstone put a lot of emphasis on TAWTHEQ's direct testimony to the Commission. [more...]

Date: 2009-09-17 09:15:00

Nortel Files for Chapter 11 Bankruptcy

In the about us page on Nortel’s website, they proudly state “Hundreds of millions of people, Fortune 500 companies, ... under the Companies’ Creditors Arrangement Act (”CCAA”) in Canada. As well, certain of the Company’ ... and debt burden, to effectively restructure its operations and to narrow its strategic focus [more...]

Date: 2009-01-14 16:02:05

Letting go of the old and moving on to the new

Welcome to 2009.2008 was quite a year for us. So many exciting things happened, there are things that I haven't even written about yet. Yikes! ... for something NEW!Debt reduction and elimination is our other main focus this year. This is the continuation ... of credit card addiction. It's that other debt we are looking at now: student loans, home equity [more...]

Date: 2009-01-05 04:25:00

DrumBeat: December 13, 2008

Greed, hatred, warfare and the race for fossil fuels NEITHER an optimistic nor a pessimistic prophet on energy, the author of "A Thousand Barrels a Second" states a simple fact: "civilization" makes us silly and greedy. Although Peter Tertzakian does not mean it, his vivid historical account of mankind's thirst for energy to pump up " [more...]

Date: 2008-12-13 14:32:05

Could It Be ….. Recovery? If So, Hurry Up Already

I’m starting to like this 78-day presidential transition period more and more. That’s because in another 30 days or so, the economy might ( ... up monthly cash flow. Many others will be cash-out refis where the cash received at settlement will be used to make major puchases or pay down other debt. The idea that there has been some kind of “ [more...]

Date: 2008-12-18 17:29:55

DrumBeat: December 23, 2008

Steve LeVine - Blunder: A New Age for Russia In August, Putin’s Russia seemed unstoppable, specifically after its five-day war with Georgia punctured the appearance of a new era of U.S. power in the former Soviet Caucasus and Central Asia. Georgia seemed the crowning achievement of a several-year-campaign of projecting Russian power over its [more...]

Date: 2008-12-23 14:14:56

China Advanced Construction Materials Group Inc. (CADC.OB) Posts Strong Q4 and FY Results Built on Project Increases and Tax Incentives

Beijing-based China Advanced Construction Materials Group Inc. (China ACM) is a leading producer of advanced construction materials for large scale commercial, residential and infrastructure developments. The company today announced its fourth-quarter and fiscal results for the three months ended June 30, 2009, posting a quarter of proven growth and profitability. The company posted revenue for the quarter at $14.5 million, as compared to $7.7 million for the three months ended June 30, 2008. [more...]

Date: 2009-09-25 13:58:23

The Text Of A Speech I will Deliver Today To The Rotary Club

When Phil Dunbar first approached me on the subject of speaking I was somewhat hesitant although I might not have said so.   I am typically a shy person in a lot of respects, and tend to be a real homebody…and have always had some difficulty with the public speaking thing.   I clearly remember the first speech I ever gave [more...]

Date: 2009-01-13 11:38:00


Jump to Comments 2 January. The insomnia that kept the American people tossing and turning that first night of the new century did not spare the White House. As soon as the President heard the Space Traders’ post-arrival proposition on television, his political instincts immediately locked into place. This was big! [more...]

Date: 2009-01-08 03:05:50

Two Financial Goals - Less Debt, More Income

This article is part of an M-Network group writing project, the 12 Days of Christmas - Personal Finance Style ... beast which can be incredibly difficult to slay - especially credit card debt, which can have interest ... up your credit cards and stop spending more than you earn. Accelerate your debt payments. After [more...]

Date: 2008-12-02 11:10:55

Gates of Vienna News Feed 1/6/2009

Tuan Jim sends an string of important news articles about the gas pipeline crisis caused by the deadlock between Russia and Ukraine. He notes that the affected countries are dusting off alternative sources of energy — fuel oil and nuclear reactors — for electricity generation.Thanks to AA, Abu Elvis, C [more...]

Date: 2009-01-07 04:50:00

Will All Be Well, And End Well, In Estonia?

by Edward Hugh: Barcelona Well, there doesn't seem to much room for doubt at this point does there, the Baltic Economies are in the van of the European economic slowdown for 2009, just as they were leading the charge up in 2007, and all that debate about whether we were going to get a hard landing or a soft one seems now so out of date and and [more...]

Date: 2009-01-13 16:04:03

Obama's Cabinet - Love Fest and Patsies!

A baggy eyed Sen. Clinton was given a pass yesterday in her Sec.of State Nominee hearings.Every president is entitled to the Cabinet he has slected and the opposition party should play the role of asking penetrating and probing questions and unless they find something very disturbing Cabinet Nominees should be allowed to serve [more...]

Date: 2009-01-14 14:35:00

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