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From Financial Mentor: Are you sick and tired of credit card bills? Are you ready to discover how to get out of debt once and for all? If you want a permanent debt solution then I have shocking news for you: Debt is not a financial problem. Hard to believe, but true. Debt is actually a personal problem masquerading in financial clothing to deceive you. That is why so many people have persistent problems [...] By Ellen Brown In the 2012 edition of Occupy Money released last week, Professor Margrit Kennedy writes that a stunning 35% to 40% of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35% to 40% cut of our GDP. That helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get progressively richer at the [...] After two foreclosures and two bankruptcies, Hermes Maldonado is as surprised as anyone that he’s getting a third shot at homeownership. The 61-year-old machine operator at a plastics factory bought a $170,000 house in Moreno Valley, Calif., this summer that boasts laminate-wood floors and squeaky clean appliances. He got the four-bedroom, two-story house despite a pockmarked credit history. The last time he owned a home, Maldonado refinanced four times and took [...] By Ellen Brown, globalresearch.ca: In the 2012 edition of Occupy Money released this month, Professor Margrit Kennedy writes that a stunning 35% to 40% of everything we buy goes to interest. This interest goes to bankers, financiers, and bondholders, who take a 35% to 40% cut of our gross domestic product. That helps explain how wealth is systematically transferred from Main Street to Wall Street. The rich get progressively richer at the expense of the poor, [...] Southwest Airlines charged Romona Cobian $11,407 for a ticket to Los Angeles. “My stomach just flip flopped. I thought ‘oh, what’s going on?’ They’re going to deplete my bank account.” They did, leaving Cobian with no way to pay her credit card bills, buy gas or even food. Her debit card statements show Southwest charged her 51 times the cost of the $135 airfare and then tacked on a strange additional charge of nearly $4500. http://sacramento.cbslocal.com/2012/08/09/call-kurtis-southwest-billing-glitch-leaves-customers-with-no-way-to-pay-bills/ Net worth includes the value of a person’s home, possessions and savings accumulated over the years, including stocks, bank accounts, real estate, cars, boats or other property, minus any debt such as mortgages, college loans and credit card bills. Older Americans tend to hold more net worth because they are more likely to have paid off their mortgages and built up more savings from salary, stocks and other investments over [...] The McMansion-owning, designer-bag toting, new-Mercedes-driving consumer is, well, so 2006. These days, faced with scary job prospects, fat credit card bills (that Louis Vuitton tote wasn’t even worth it, was it?!) and houses worth much less than we paid for them, the American consumer looks a lot different than she used to. In fact, she’s living by a whole new set of rules (or, at least, she should be). Here’s a look at what they [...] From Frugal Dad: I probably could have told you that American men were in bad shape (both financially and physically), but I didn’t realize just how bad until now. The average guy has almost $15k in debt and only $3k in savings, and 16% of guys rarely pay off their credit card bills. If this isn’t why Frugal Dad was founded back in 2007, then I don’t know what is. But my [...] Robert Roche of Norwood has more than 195 charges on his criminal record. YARMOUTH (CBS) – A career criminal with an extremely lengthy criminal record is back under arrest in Yarmouth after police say he conned an 86-year-old woman out of more than $20,000. The victim, named Rita, says Robert Roche’s dastardly deeds drained her bank account and left her with credit card bills in the thousands. “He did everything dastardly he could [...] By Eliot Spitzer Imagine you walked into a bank, applied for a personal line of credit, and filled out all the paperwork claiming to have no debts and an income of $200,000 per year. The bank, based on these representations, extended you the line of credit. Then, three years later, after fighting disclosure all the way, you were forced by a court to tell the truth: At the time you made the [...] By David Heinzmann, Lisa Black and Todd Lighty, Chicago Tribune reporters11:09 p.m. CST, November 8, 2011 As newly reviewed records pointed to deeper financial problems for the Chicago-area woman accusing Republican presidential candidate Herman Cain of sexual harassment, he wasted no time Tuesday in suggesting she is motivated by monetary gain. Sharon Bialek’s fiance — who said he is her primary source of financial support — is unemployed and preparing to file for bankruptcy, according [...]
More often than not it is seen that one unfortunate incident leads to another. With the current surge in the rate of bankruptcies, foreclosures and the huge number of people losing their jobs, consumer credit ratings are plummeting unnaturally. An increasingly large number of people are getting behind on their credit card bills and are receiving dunning notices from the collection agencies. Though the credit card consolidation companies [...] Alex Simchuk is a suspect at large in a South Beach nightclub ring roundup. When the feds busted a syndicate of Russian-speaking nightclub owners and their so-called Bar Girls, it seemed like just another titillating tale from South Beach. But the April bust showed that the FBI is taking the Eastern European mob a lot more seriously these days than the Italian Mafia. La Cosa Nostra is no [...] by Saxplayer00o1 1)Â Whopping $69.5 billion debt hangs over city as short- and long-term spending gets cut (New York) “Now that all the Christmas gifts have been unwrapped, it’s time to pay the bills. That’s the dilemma in City Hall, too. A report from Controller John Liu shows New York is carrying $69.5 billion in debt – the highest level ever. That breaks down to $8,281 for every man, woman and child in the city, 7% [...] AP survey: Painfully slow economic gains into 2011 by The Truth Contrary to popular myth, there are people in this country that do save. And the Fed’s policy over the past few years have terribly hurt the savers in this country. How many billions upon billions of dollars of disposable income have been removed from the monetary system because of the Fed’s interest rate policy? And for what reason? So that people who continue to in-debt themselves can have slightly [...] Deficit reduction is distinctly different from eliminating wasteful spending (which produces no economic growth and no jobs) and then redirecting that spending to projects which do provide jobs and growth: 1. $250BILLION per year for 865 military bases in 40 countries. Do we really need to continue imperial overstretch? We have more troops in Costa Rica (7,000) than at the Arizona border (1,200) which is dominated by Mexican drug cartels. It’s not an aggregated collation of hard data: It’s just a gaggle of loose BEA estimates based on highly questionable assumptions. Read it for yourself and see; it’s short enough. http://www.bea.gov/newsreleases/national/pi/pinewsrelease.htm It’s full of unscientific statistical leaps of fancy, like this: “Personal saving — DPI less personal outlays — was $304.0 billion in March…” Notice that it defines Personal Savings as “Disposable Personal Income less personal outlays”. “Personal Outlays” is what they guess you [...] |
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