Jan 20 2009

Bankrupt Consumer: Chapter 7 Bankruptcies up. Credit Card and Consumer Credit Crisis: Americans were Using Consumer Credit as a Lifeline and it is now drying Up Pushing Bankruptcies Upward. $2.5 Trillion in Loans at Risk.

Credit cards have been around for many years with Bank of America creating the BankAmericard in 1958, which eventually evolved into the modern day Visa system.  MasterCard has been around since 1966 and received significant backing from Citibank.  These names are familiar with the current credit crisis.  Credit cards have been one component of the […]

Jan 17 2009

Saving Nation: You Know you Have a Fiscal Problem When Saving Money Actually Becomes a Detriment to the Health of our Economy.

In George Orwell’s dystopian 1984, doublethink was the ability for someone to hold two mutually contradictory beliefs, and accepting them both.  We have now entered into the world when Americans actually saving money is bad for the health of our consumption economy.  War is peace.  Saving is spending.  Our Ministry of Truth is the Federal […]

Dec 12 2008

How to get out of Debt: Can it be the American Consumer is Contributing to Deflation by Paying off Debt?

The Federal Reserve flow of funds report was issued this week and for the first time since 1951, when records started being kept household debt has actually declined.  The larger meaning of this?  Many Americans simply cannot take on anymore debt.  What it also means is that many Americans are more reluctant to take on […]

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Jan 3 2008

Credit Consolidation Ideas: Using Prosper and Balance Transfers

Debt has a way of holding you down. It may start out with a very tiny amount, maybe a gift purchase or a vacation, but little by little that tiny debt has ballooned into an unmanageable amount of debt that is making it hard for you to save. I was watching Larry King last night […]

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