Even Obama’s cash advances do not come free

Obama is ready to be tough

With the Fed’s coffer shrinking faster than ever, President Barack Obama has now made it clear that the cash advances that he is offering to corporate America will not be for free. In his recent speech at the Georgetown University, while he defended his economic policies on one hand, on the other hand, he warned people of tough choices ahead. Providing a justification for his moves, he said that each policy “is driven by a larger vision of America’s future, a future where sustained economic growth creates good jobs and rising incomes; a future where prosperity is fueled not by excessive debt, reckless speculation, and fleeing profit, but is instead built by skilled, productive workers.”

Job losses and foreclosures ahead

President Obama’s clear message for corporate America was that the careless usage of the bailout money will not be tolerated any more. Pointing at more job losses and foreclosures in the wake of a major restructuring in the U.S. auto industry and troubled insurance giant, American International Group, Obama talked about implementation of “difficult and unpopular choices.” He also said that hard times are not over yet. As per him, “2009 will continue to be a difficult year for America’s economy. The severity of this recession will cause more job losses, more foreclosures, and more pain before it ends.”

Banks are to be saved

Though a lot of discussion is going on at present about the results of the official ‘stress test’ that was carried on 19 giant banks of the U.S., Obama seems to have a soft corner for the banks. But then, that’s not without any reason. As per his Georgetown University speech, “Of course, there are some who argue that the government should stand back and simply let these banks fail – especially since in many cases it was their bad decisions that helped create the crisis in the first place. (But) The truth is that a dollar of capital in a bank can actually result in eight or ten dollars of loans to families and businesses, a multiplier effect that can ultimately lead to a faster pace of economic growth.” … click here to read the rest of the article titled "Even Obama’s cash advances do not come free"

Read and post comments | Send to a friend

Can Payday Loans Assist In A Recession?

Coping with a budget in a Tough Economy

With the growing problem of credit and budgets already tightened until “it hurts,” can a payday loan be a port in a storm? Of course, if you are among the unfortunate who have just been laid off or terminated from your employment, it’s certainly not a viable option. For those employed though, who are fairly secure in their jobs and still receiving a paycheck, pressing debt can be made less stressful if there is the possibility of borrowing money against your next payday. The key here is to utilize this type of service in a very responsible way.

Staying Realistic About Debt

It’s very important to keep in mind that more borrowing is not a wise solution to a financial problem that, more than likely, was caused by borrowing too much in the first place. The economic downturn that we have been experiencing has hit everyone in one way or the other. It’s tough to make some of the bills on time. For someone who has had a bad month with some unexpected expenses, i.e. illness, car repairs and the like, a payday loan could definitely be a handy “quick fix” for getting a bill such as a house payment, or car payment made in a timely fashion. However, it’s important to remember that acquiring payday loans on a regular basis is not a cure-all for problem debt. … click here to read the rest of the article titled "Can Payday Loans Assist In A Recession?"
< br>

Read and post comments | Send to a friend

Chrysler Bankruptcy Sets Stage for Court War

Down goes Chrysler

America’s big automakers have all been in serious need of cash advance loans and debt relief for some time now. Overproduction of consumer vehicles that burn through gasoline and take up too much room on the country’s current highway system has been the byproduct of poor planning by top automobile executives. Now the time has come for them to reap what they have sown.

Unfortunately, this means that many honest, hard-working employees are losing their jobs, thanks to the economic corpulence of those who may never have known what it truly means to struggle to survive. This time, there’s no bailout: Chrysler has bankruptcy on their minds. Chapter 11 bankruptcy.

Average taxpayers may get nothing

Following the trail of Chrysler news, Michael de la Merced blogs for the New York Times that the restructuring battle has changed locales, from board rooms to bankruptcy court. Chrysler and the Obama administration did not obtain the consent they needed from secured lenders, so Chrysler is bankrupt. … click here to read the rest of the article titled "Chrysler Bankruptcy Sets Stage for Court War"

Read and post comments | Send to a friend

Loudmouth Golf Peddles Pricey Pants

John Daly attracts attention at Spanish Open

John Daly

Golf is generally regarded as a conservative, quiet sport for conservative, quiet players. Because of this, when John Daly showed up to practice for the Spanish Open in apparel from Loudmouth Golf, spectators looked twice.

Loudmouth Golf specializes in the type of golf clothing you’d see in a Chevy Chase movie. Daly donned bright orange and pink from head to toe, and observers took notice.

Not for the weak of wallet

If golf is a rich man’s sport, Loudmouth Golf gear is a rich man’s clothing retailer. A pair of brightly colored pants costs $89.95 — right up there with designer jeans.

But for those who have the cash to plunk down at tee time, they can probably afford Loudmouth Golf clothes without having to take out online payday loans or installment loans.

Why wear Loudmouth Golf gear?

Loudmouth Golf founder Scott Woodworth has a simple answer for his motivation behind creating the clothing line: for fun!

“If you’re uptight, self-conscious and care more about your golf score than the experience, then they are not for you. But if you treat a golf outing as a special occasion for fun and laughs, then wear some. They can’t hurt your score and they might even irritate your opponent!” Woodworth says.

So, if you’re one of the lucky people out there who still has money to spend on fun, you can check out Loudmouth Golf’s extensive line of “Outstanding Golf Pants.” … click here to read the rest of the article titled "Loudmouth Golf Peddles Pricey Pants"

Read and post comments | Send to a friend

Repair Your Credit | Bankruptcy? (Pt. 5)

Consider the consequences

You know what you’ve gotten yourself into. Your debts are very real, and it will take effort and negotiation moxie to get your finances to a better place. Now begin to “Repair Your Credit!” CLICK HERE if you missed part four of this article. If you don’t keep up, your credit cards will come alive at night and nibble at your fingers. No credit repair in the world can replace a good set of digits.

***

First, negotiating down your debt will not immediately enable you to finish paying off what you owe and walk away with a spotless credit rating. Your credit score will be negatively affected for a period of seven to ten years before the black marks finally drop off your credit report.

Therefore, you must take careful consideration of your future financial plans. If you are already defaulting on payments, your credit is already blemished. Late payments of 30, 60, and 90 days have already been reported to the credit bureaus and will hurt your FICO score for at least 36 months before they disappear.

The big question for you then would be, “is it worth it?” Depending on your debt load, it may be.

Bankruptcy may be your best option

Another thing to consider if you have chosen to negotiate your debt down is how much will you still owe once the debt is renegotiated. It hasn’t gone away; you still owe. How long will it take to pay off the new balance? … click here to read the rest of the article titled "Repair Your Credit | Bankruptcy? (Pt. 5)"

Read and post comments | Send to a friend

Make Peace with the Sign

Get it off your back

When you need money, the dollar sign is your constant companion. It follows you everywhere. It fills your mail box, calls you on the phone, and makes demands. It even wakes you up in the middle of the night. It cheats you at the gas pump, shocks you at the grocery store, and gets a good laugh when you look at the price tag on a new pair of shoes. Why not get this persistent symbol off your back with a quick payday loan? Then relax for a minute and consider where it may have come from.

The dispute rages on (in limited circles)

Thomas Jefferson

The origin of the dollar sign is a matter of controversy for anyone interested in numismatics, the study of coins and paper money. The first use of $ in an American context is in 1784 in a memorandum from Thomas Jefferson suggesting the dollar as the primary unit of currency. Some have deduced from this that he made it up there and then, either as a monogram based on his own initials or as a kind of doodle.

Ayn Rand

A more widely held notion is that it originated as the letters U and S superimposed on each other and that the U eventually disintegrated into unconnected parallel lines. The problem with this theory (popularized by novelist Ayn Rand in Atlas Shrugged) is that $ as a symbol for peso far outdates its application to U.S. dollars and is still widely used as a peso sign throughout Latin America. … click here to read the rest of the article titled "Make Peace with the Sign"

Read and post comments | Send to a friend

Repair Your Credit | Kicking a Case of the Borrows (Pt. 1)

Borrow less, for credit’s sake

Identifying Habits That Cost You Money

Welcome back to “Repair Your Credit.” Last time, you saw that the people who use personal loans to keep their credit rating in order aren’t all that different from you and me (demographically). This time, let’s start getting down to the nitty gritty of spending and borrowing habits. The more you get these under control, the more likely you are to step out with good credit.

Let’s start off with a recent survey whose results appeared in USA Today. “If you were given an extra $1,000, what would you do with it?” was the question. Imagine it’s a gift, a stimulus check, or anything else. Here are the results of the poll:

• Save it! (31 percent)
• Pay off debt! (24 percent)
• Splurge! (20 percent)
• Buy essentials! (16 percent)

That sounds smart, doesn’t it? If only one in five people (20 percent) are going to splurge on an impulse buy, that means 80 percent are thinking conservatively, in preparation for a rainy day. We’re certainly there now with the current recession, aren’t we?

Asking yourself tough questions

I think the percentage of impulse buys would be higher, honestly. It’s exciting to spend what amounts to found money, isn’t it? If you’re one of the impulse buyers, step back from the adrenaline rush for a moment and consider your situation. If you can answer these questions in the affirmative before having fun with your money, you’re ready to go … click here to read the rest of the article titled "Repair Your Credit | Kicking a Case of the Borrows (Pt. 1)"

Read and post comments | Send to a friend

Glass Slipper Project | Every Princess Should Have Her Prom

Glass Slipper Project to the rescue

For many young women, prom is an exciting time, a time of glamor, sparkle and beauty. Some of them may enjoy the chance to fulfill a princess fantasy (straight out of Bettelheim), others may see it as a rite of passage into womanhood and still more may view it as an insidious torture device. Whatever the case, it’s hard not to have an opinion.

But obtaining the proper princess garb (or princely wares, because many guys look forward to prom, too) can be expensive. Tuxedo rentals are an expense, and there are other expenses, depending upon after-prom plans. However, these things tend to pale in comparison with the money (and time) young ladies (and their parents) spend of prom dresses. Quick payday loans or credit cards may help you afford a nice dress, but if it’s only going to be worn once, the wisdom of such a course is debatable.

That’s where the Glass Slipper Project comes in

Kate Ward of the Northwest Arkansas Times reports that girls like Hailey Pitts of Fayetteville High School will have the chance to attend their senior prom where chance may not have existed before.

“I’m really excited, but it still kind of freaks me out,” Pitts said “I always knew I’d eventually go; I just can’t believe it’s already here.” … click here to read the rest of the article titled "Glass Slipper Project | Every Princess Should Have Her Prom"

Read and post comments | Send to a friend

Dave Ramsey Holds ‘Town Hall for Hope’

Money talks

Dave Ramsey

Well known radio host, author and motivational speaker Dave Ramsey doesn’t want to sit back and watch the recession take over people’s lives anymore. Ramsey is holding a “Town Hall for Hope” tonight to discuss “what’s happening with the economy, how we got here, and where we’re going.”

His live presentation will be broadcast to several host locations, mostly churches, through live video streaming. You can find a host location near you by visiting www.townhallforhope.com and clicking on “Attend the Event.”

Event details

Dave Ramsey for years has motivated audiences to get out of credit card debt and become proactive about debt reduction and credit repair. The event tonight begins at 8 p.m. ET. Ramsey will be speaking at a church in Oklahoma, and other churches that have already signed up to be hosts will show the presentation live.

Ramsey’s Town Hall for Hope web site says he will talk about foreclosures, recession and whatever audience members ask about. He’ll be taking questions throughout the event.

Ramsey’s wisdom

Ramsey’s well-known and sometimes controversial approach to getting out of debt is called the “debt snowball.” He advocates paying off  bills with the smallest balances first, knocking them out one by one. … click here to read the rest of the article titled "Dave Ramsey Holds 'Town Hall for Hope' "

Read and post comments | Send to a friend

Venezuelan Equine Encephalitis For Me and You. Go Army!

Your tax dollars at work

When President Obama bails out a bank that talks out of both sides of its mouth, you pay. When a grovelling automaker holds out the tin cup without so much as an entertaining two-step or flaming juggle, you pay. I pay. We all pay through increased tax payments.

We make our daily pilgrimage to the altar of taxation, where we leave our cash advance loans and installment loans. Sure, we’re repaid with a wide range of services and security, but I didn’t sign up for an Army research lab that “misplaces” dangerous pathogens like Venezuelan equine encephalitis. That’s not part of the deal.

“I’m not saying we won’t get our hair mussed…”

Nelson Hernandez and Ann Scott Tyson report for the Boston Globe that the U.S. Army Medical Research Institute of Infectious Diseases in Frederick, Maryland, is under investigation by the Army’s Criminal Investigation Command. It seems that a few vials of some deadly stuff has disappeared from the inventory, according to an Army spokesman.

The Frederick News-Post reported that since at least February 2009, Army agents have been trying to uncover what happened to the bacteria that may have gone missing between 1987 and 2008. Nothing like a prompt response, eh? Most research has been suspended at the Army lab because the inventory system is under investigation, but I’m sure they’re still lobbying for your tax dollars in some Washington D.C. office. Because it takes money to pay highly trained staff to lose things. It takes money to place human beings in danger of infection. It takes our money. … click here to read the rest of the article titled "Venezuelan Equine Encephalitis For Me and You. Go Army!"

Read and post comments | Send to a friend