College students graduating

Students optimistic about the future, despite expecting less cash

People of college student age are expecting to be less wealthy than their parents but more satisfied with life, according to a recent survey. An Associated Press survey of people ages 18 to 24 revealed that younger people, especially those saddled with higher amounts of student debt, expect a lower quality of life than their
President Obama hugging military personnel.

Obama says all troops will be out of Iraq by 2011

Getting the troops out of Iraq was part of President Obama’s campaign platform. Creation of a plan for the withdrawal of U.S. troops started just after his election. Soon a plan was put together, and the White House has kept it on schedule. By Aug. 31, only 50,000 service personnel will remain in Iraq. All

One needs a pay day to get a payday loan

The idea that payday loan lenders want to loan to anyone and everyone to get them hooked is ridiculous. Critics of the industry like to make claims about an awful debt trap and of predatory lending. The story goes that anyone with a pulse can get a loan of they ask. It isn’t true, and
Boycott and protest

Gas boycott would not work, despite Facebook campaigns

There have been a prodigious number of chain emails and social media campaigns over the years calling for a gas boycott. The idea is that if people everywhere don’t buy gasoline for a day, it will force gas companies to lower gas prices and stop gouging their customers. The trouble with this idea is that

Fewer people financially confident about entering retirement

The number of people who feel financially confident about entering retirement are an increasingly small portion of the population. Falling real estate values and a volatile stock market have made soon-to-be retirees fairly nervous. To make matters worse, energy prices could be due for a large increase, and politicians may be gunning for Social Security.
Salt Flats

Estimates project Social Security will run out of cash by 2037

New estimates project that Social Security will run out of cash by 2037. The estimates, from the Congressional Budget Office purport that Social Security will run a deficit until 2037, when the trust fund will be completely depleted. Recent tax cuts already have given advance cash out of Social Security revenue. Constant deficits projected for
Al Capone

Rod Blagojevich gets only a single guilty verdict

The trial of disgraced former governor of Illinois Rod Blagojevich has just concluded. After two weeks of deliberation, the grand jury returned only a single guilty verdict. Blagojevich was only convicted of one count of lying to the Federal Bureau of Investigation. Sentencing will soon follow, and he could face up to five years in
Bull riding

Online loans are risky for lenders

A lot of people have the idea that lenders of online loans can get away with just about anything. The offices for any online personal loan or installment loan could be anywhere, so people get the impression they can’t be tracked down. However, online loan lenders actually have to be far more careful than the
Fish Fork

Credit card cash advance fees go up after CARD Act passes

After the CARD Act, or the so-called Credit Card Holder Bill of Rights, passed Congress, credit card companies started to think of new ways to increase revenue. Credit card companies now are figuring out ways to legally charge more for using the credit they extend. There are greater interest rates being assessed. Late payment penalties
Military family

Federal budget passes; fewer troops need military payday loans

The United States Congress recently passed the federal budget for fiscal year 2011 after a long standoff. Among concerns about a possible government shutdown were that military service personnel would have to resort to payday loans and other financial means if a deal could not be made. Thankfully, the shutdown was avoided. Shutdown could have
Ghost town

Advance America stock tumbles after store closures

After the Arizona ban on payday lending went into effect, and new legislation is being passed in Colorado, Advance America announced it was closing more than 100 store locations nationwide.  One of the nation’s largest payday lenders, and one of the few that grew large enough to be publicly traded, is shutting down 122 stores
Spot Fish

Millions of dead fish join dead birds phenomenon

Two incidents of large numbers of dead fish have been reported in the last week. One incident was reported in Arkansas about the same time as hundreds of dead birds fell from the sky, and another massive fish die-off has been reported in Maryland. Massive numbers of dead fish washing ashore Two recent incidents of
Cutting Shears

Personal loans rise as credit cards fall

During economic recessions, you expect people to tighten their belts and cut down on their use of credit, of any form.  It is certainly true that some tightening has happened, but it isn’t as much as you’d think.  It is instead the case that some forms of consumer credit are being used more, while others
Should salt be regulated?

Should the FDA regulate sodium in food?

The Food and Drug Administration has received a call to begin a study concerning whether it should regulate or limit the amount of sodium that food items contain.  Such a study would cost more than a few payday advances, to say the least, but many advisory groups, including the American Medical Association, are in favor

Tropical storm Igor turns into Hurricane Igor

Every year, hurricanes move throughout the Caribbean and the Atlantic, threatening island nations and wreaking havoc on the mainland. So far, the 2010 hurricane season has been thankfully mild. However, more storm systems have gathered enough force in the past few weeks to become legitimate threats. Currently, tropical storm Igor has become large and volatile

Use of open credit loans declines with credit card delinquencies

Americans are paying off debt in greater frequency, as the popularity of open-ended credit loans is declining. The near collapse of the credit market has led to more people questioning the value of debt. More people want their payday cash going to their own pockets, not to banks and loan lenders. Credit card delinquencies decline
Assange protests

WikiLeaks founder Julian Assange freed on bail as appeal fails

The controversial head of WikiLeaks, Julian Assange, is out on bail. A recent court hearing granted him the right to post bail and get out of jail, but an appeal was immediately filed against bail on behalf of the Swedish government. The appeal was denied, and Assange is out. Julian Assange allowed to post bail