Death of the Consumer

by MN Gordon Economic Prism

Something peculiar is going on.  One data point says the economy’s improving.  Another says it’s floundering.

Nonetheless, we strive to connect the dots and draw inferences as we go.  For example, according to data released Tuesday, manufacturing and construction spending is on the rise…

“Stronger-than-expected data on U.S. manufacturing and construction spending on Tuesday hinted the world’s biggest economy was gaining traction,” reported Reuters.

“The U.S. manufacturing sector grew last month at its fastest pace in more than two years, with the Institute for Supply Management’s (ISM) index of national factory activity rising to 55.7 in August from 55.4 the prior month.

“That comfortably beat expectations for 54, with the index at its highest since June 2011.

“A reading above 50 indicates expansion in (Read More….)

Spelling Out In Simple Terms- WHAT IS WRONG

Authored By Dave Webb

The future is controlled by economics. So has the past been controlled by economics. In theory, money represents commodities. And commodities are what controls everything we know.

The current economic situation is controlled by how much it costs you and me to buy commodities. The price of basics determine how well we all live.

Transportation:

How much does it cost you to own your car?

Do you have a lease or car payment?

How much does it cost to maintain the car?

How much does it cost to fill the tank and how long does it last you?

What do you pay per month for insurance?

What do you set aside for emergency repairs?

Groceries:

Do you plan for food? When I was in service I never gave it a second thought. (Older married men wanted a refrigerator and bought their own food.)

Do you plan to eat out occasionally and how much do you set aside for that?

Place to live:

Most of us start out renting. Is it possible to own a house?

Pay your (Read More….)

Who Owns You?

Authored By Dave Webb

In the coming default of the Federal Government on its debts, there is an important question all of us must ask of ourselves. Who owns you?

In ancient times if a person could not pay their debts they went to prison. It was called debtor’s prison for a reason. If you could not pay the government owned you body and soul until the debt was paid. If some relative cares for you it was assumed they would cover your debt to get you out of prison.

In Rome, they sold you as a slave if you couldn’t pay your debts.

In today’s world we do not sell people as slaves anymore. It is far too inefficient. Rather we delete their ability to borrow money which is just as bad.

If you cannot borrow money you cannot own a house. You cannot get a car loan so you are stuck with whatever junk you can pay cash for. You have no credit cards to cushion you in an emergency. Your housing rental is probably limited as well.

I am sure the list goes on. Like what kind of medical care can you get if you have no credit? It is all a kind of sophisticated slavery most of us endure in our (Read More….)

Best Credit Card Deals For Debtors And Spenders

Have you ever encountered a financial crisis due to credit cards repayments? Are you looking for a way to make it right by choosing the best credit card transfer to help you out of a mess? The first step you can take to achieve the desired result is to identify the kind of spender you are.

Knowing how you spend the money on your credit cards will help you to get a card with the features that suit you habits. The APR, rewards on offer, the introductory rates all play they part in the profile of the card.

There are basically four groups of spenders and they are as follows:

• Everyday spender. This is someone who uses his/her credit card on daily basis for regular purchases and pay off the balances monthly. If you are this type of spender all you need to do is to ensure that you get a card that will adequately provide the features that will give room for you to take care of your spending needs at the lowest possible (Read More….)

How To Build Back Up Your Credit Score

The problem of improving a bad credit score can seem like a catch-22: to apply for new credit and be approved, you must have a good credit history, but in order to get a good credit history, you must have credit.

What number is considered a good credit score rating? On a scale that usually goes from 300 to 850, the short answer is anything above 720

Credit card companies and banks have tightened the requirements to give out credit, so building up a good credit score is becoming quite a challenge. The lower your credit score, the fewer options you have for getting approved. For a consumer who has no credit at all, or for one that has bad credit, they are much worse off. As tough as it sounds, it doesn’t mean that it’s impossible to build up your credit score.

Secured Credit Cards

If you have tried getting a credit card but were declined, try applying for a secured credit card. With a secured credit card, the consumer makes a deposit, for example $100 – $500, which will be their credit (Read More….)

Getting Out of Debt: Different Ways

You can trash the reminder letters all you want, but it doesn’t trash your debt. Debt stays with you like white on rice, so it’s best to figure out the best way to get out of it without having to resort to drastic means.

1. Pay beyond the minimum: The first thing you need to try and do is stop paying the bare minimum each month. Normally, this is about 3 percent of the entire balance and is exactly what banks expect of you. Less than half of your payment makes an actual dent in the balance and goes toward the high interest you owe, so all you’re doing is burning money in exchange for an absence of threatening phone calls; you’re not getting anywhere otherwise. Pay as much as possible per month; try for at least double the minimum. Examine your spending habits and slim down on the luxuries for now.

2. Get another job: If you honestly can’t slim down anywhere and are already skating on your teeth paying back your debt, you’ll want to consider getting a job. Use this money strictly for paying it back, paying off the ones with higher interest rates first and going down to the (Read More….)

Got credit card debt? How to Dig Yourself Out of the Hole

Credit card debt can hurt your personal finance badly, making it hard to get ahead. Minimum payments alone can add up to hundreds of dollars a month. It is important to avoid credit card debt in the first place, if you are already in debt, it is important to get out now. There are a few simple things you can do to ease the financial burden and be on solid ground again.

Stop

Before you can fix any problem, you need to get at the root of it. Stop spending more than you make, if needed, stop using credit cards. You can use just cash, or debit cards, to help you from overspending. No matter how hard you work, if you do not get the root of the problem you will continue the vicious cycle.

Garage Sale

Doing a quick garage sale can net a thousand dollars or more in a weekend if you have enough stuff. This can go directly to the debt, and knock out a small portion of it without even trying. Not only that, but it will clean up the house, and enable you to see what you wasted money (Read More….)

Credit Cards – History, Technology & Latest trends

First of all what is credit? Credit is the process of selling goods or services even without cash in hand; it means you’ll be paying for your purchases earlier.  Credit cards are now very popular nowadays because it is a way of letting consumer do their purchases first before paying.  It includes its own account number which makes shopping transactions even faster with just a swipe.  All of your transactions will be recorded, including your identity, address, terms of payment and many more.

The history of credit cards started in the United States in the year 1920’s. Individual companies and firms like hotels, oil companies began issuing them to their consumers. There are however other references to this that cards have been made as far back as 1980 in Europe. Credit cards before involved sales between the merchants’ offer (which includes the credit card itself and the credit) plus the customer. In the year 1983, most companies are starting to accept each other’s cards and the latest credit cards today will now allow you to make purchases almost everywhere you go.

·The old credit cards were not actually made up of (Read More….)