The bridge of student loan debt leads to second bubble

May 11, 2013 By Leave a Comment
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  USA Today is reporting that a group of bankers are warning the Federal Reserve of the $1 trillion student loan debt crisis having parallels to the housing fiasco of 2007-2008. The student loan debt is larger than the nation's outstanding credit card debt. This poses another problem for the Federal Reserve, but our mentality is debt our way to prosperity. Our children are being sold debt as a way to pay for college when savings and some financing should be a mixture to insure the yolk of debt will not destroy a generation. As a fortunate, college was paid in full and student loans were not as common 20 years ago as today. It is a hard concept to grasp the college graduates of this era with the burdensome yolk of debt as the option to pay for college. If we as a nation change our attitude, schools, parents, and the financial system could work to instruct financial literacy for our children to teach them to save and understand debt. In our free society, the concept of the status … [Read more...]

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Personal finance change is easier said than done

May 2, 2013 By Leave a Comment

Passion is a strong force to keep things going when all is about to fail. I am writing this article today, because our nation has become a nation of talkers. Talk sounds so nice someone said to me one time, but action is another component all together. The whole country must change an attitude about personal finance, or we will never overcome the hurdle that we face in America. We are a debtor society, and the government is the best example of our specific problem with 16 Trillion in debt on the books. Debt reduction and cost savings measures are great to discuss, but the actions are much harder to implement. The prestige is lost when having to do the dirty work. That is the problem in Washington, DC, and throughout the country. As an advocate, the stage was set for this quarter of 2012 to be our year with a group of partners. Several partners brought great ideas and resources to the table, but crunch time came and they have withdrawn from participation. They have prestige in … [Read more...]

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Watch “This Week: UK’s AAA credit rating

February 23, 2013 By Leave a Comment

http://youtu.be/dVzhBAyooGw This video is before Moodys downgrade on the UK. Posted from WordPress for Android … [Read more...]

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Greece strike under austerity as America faces sequester

February 21, 2013 By 3 Comments
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The threat of sequester in America is the first taste of austerity in the world’s largest economy. A microscopic version of what America faces is on show over in Greece, and the austerity measures are impacting every facet of Greek society. Strikes are commonplace as the latest round of protests as government workers did take part in the planned Anti-Austerity strike to show the people’s anger over the economic situation not showing any improvement but the continued decline of the economic situation. Greece did receive a second bailout package in December, but the citizens were placing hopes in the ease of austerity measures. The austerity still holds firm in Greece with high impact negatives in the country. America faces sequester, and this first round of austerity will be harsh as $85 billion in spending cuts will take place beginning in March. The truth is the slow spread of austerity in America will take longer and be more painful than Greece. Greece is much smaller with Europe … [Read more...]

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Financial literacy of the next generation begins with change of this generation

February 16, 2013 By Leave a Comment
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IOU photo courtesy of Business Insider> The following comment was left on the article Super Parenting: 2nd excerpt: Submitted on 2013/02/16 at 11:44 am by Mark::I like the ideas you put forward. Interested to read the book and see how I can raise great kids with financial sense!This kind of knowledge is need badly by so many parents. Trying to out spend the next guy is getting us stuck in a cycle that isn’t rewarding.The following article answer the process behind the creation of a new generation of financially savvy and educated children by 18: You can't teach an old dog new tricks, and humans are the similar when learning later in life. The reason for our precarious situation is debt and behavior. First, our economy is solely dependent on the issuance of credit since the 1980's when debt began to fuel fast growth. The issuance of debt must expand outstanding credit to foster firm economic growth. The opposite reaction is a society that makes saving money and production … [Read more...]

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Our Great American Purpose is the Financial Future of our Children

February 14, 2013 By 5 Comments

No greater responsibility is being in a guardianship position of a Mother or Father of children. The closest Dad responsibility is the 15 year old Jack Russell Terriers (boys) that need constant care to survive daily due to being older and approaching the end of their time on this Earth. I ponder of what if both of my boys were with a person or family that neglected them and all the special care required to keep them comfortable and alive. I shudder at the thought, but feel very fortunate to spend every moment taking care and having fun in this precious finite time remaining. One other thought makes me shudder in fear at the possible future that faces our country. The financial fiasco in our debt crisis, and the impact of collapse on children as the defenseless and vulnerable part of our society. In a dismantling of our country, The American Dream is becoming absent in our society. My Dad and Uncle were children in an area and situations against all odds of escaping the life of … [Read more...]

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Forget Europe: America debt crisis will become a stranglehold in 2013

February 2, 2013 By Leave a Comment

Europe was the center of the debt crisis in 2012, but America will be the epic story of debt crisis in 2013. The Fiscal Cliff resolution began a major global shift in focus about the political capability of Washington to address spending or any real debt reduction policies to address issues including entitlements. The final deal was only to deflect the massive tax increases as the extension on the Bush Era Tax Cuts were set to expire at the end of 2012. No spending measures were touched, and the actual deal will add trillions of debt over the next few years. The second item to shift focus was the short term debt limit increase to align with the upcoming sequester fight that Republicans could battle both together. A 105 day debt limit increased was passed by Congress this past week. The third item was the negative reduction in GDP in the 4th Quarter of 2012 as the expansion went into a contraction because of the financial stalemate over the Fiscal Cliff in Congress at the end of the … [Read more...]

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Debt Collectors Update: The legal recourse has begun with the Mississippi Attorney General’s office.

September 9, 2012 By 1 Comment

                    This article is the  follow up from the debt collectors calling my phone number asking for my mother's first name, and impersonating themselves as law enforcement concerning a situation that was not legitimately about my mother. I have sent the necessary documentation to the Attorney General's office including recording voice mails and detailed information on the company's name and county of operations. I must complete another form for the state of Mississippi, and we will track how the process will take shape. The  law has a path for legal debt collection, but actions of impersonating law enforcement, unlawful accusation of a person to collect a debt not belonging to this individual, and terrorizing people by calling employers and family to disclose sometimes very inaccurate information are blights on our society. They must be stop. Together, we can make it happen. Personal … [Read more...]

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Consumer recourse on debt collectors bad behavior

September 2, 2012 By 1 Comment
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  Debt Collectors are supposed to be aggressive and persuasive in attempting to collect money on a debt owed. When the debt collector makes threats of legal action and authority only granted to the law enforcement and judicial system, this is an act of impersonating a law enforcement official and it is against the law. In addition, a debt collector making threats on debts that are the responsibility of another owner is further acts of illegality under the law. A consumer should not be scared into paying any monies because a threat of arrest or legal ramifications because it cannot happen unless actions have been taking through the court system where the sheriff and a court date is involved. A friend in California did discuss his recent incident with a debt collector's bad behavior. The reality is what can the consumer do to avoid a potentially embarrassing situation. This is not legal advice, but actions can be taken to handle on of these disturbing calls. First, a third … [Read more...]

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Personal Finance: Creating the future saver generation in children

September 1, 2012 By 4 Comments

  The earlier is definitely when planning for a child's future. Some may ask how to prepare for a child to become a saver when a majority of this current generation is a product of the debtor society. The reality is the debtor parents and future couples planning to have children must have a paradigm shift in attitude when planning for a family. The couple who is falling blissfully in love must not be concerned with the wedding of a lifetime, but a serious discussion must be on parity as getting married on the size and time frame of a future family. The real world does not work out in this manner, but the couples with the opportunity must plan way ahead of the birth of a child. An example of the importance of early planning is the current student loan debt and financial illiteracy issues of new college graduates. The debt burden and economic crisis is trapping our young people in a system of underemployment and financial challenges during the prime years of life. Why force … [Read more...]

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