Fed President Loretta Mester – Next Step in Monetary Policy Is Helicopter Money

The President of the Federal Reserve Bank of Cleveland, Loretta Mester, recently joined a parade of Fed officials who have endorsed the concept of “helicopter money” as a possible solution to the prospect of a severe economic downturn worldwide. ABC.net reported that Mester, speaking in Australia before the Federal Open Market Committee (FOMC), opened the

Why do 62 People Own Half of Planet Earth?

Six years ago, no one could have imagined that only 62 people would now hold the bulk of the world’s wealth. At the time, that title was shared by 388 individuals. In the wake of the global recession, between 2010 and 2015 the staggering gap in wealth and poverty has ballooned at an alarming rate.

What More Payday Loan Stores than McDonald’s and Starbucks Franchises Says about the Economy

A sweep of current headlines on the state of the economy portrays positive signs: robust house sales, steady unemployment rates and rising personal income. However, analysis of the payday lending industry paints a very different picture of the economic conditions of middle-class America. Despite restrictions on cash advance practice in almost one-third of the nation’s

Payday Loan Alternatives – There are More Than You Think

A low FICO score or history of late payments prevents many Americans from obtaining low-rate loans through traditional methods, such as credit cards and unsecured bank loans. When faced with bad credit and an immediate need for cash, payday loans are a convenient option for taking care of surprise expenses. However, payday loans are not

Corporate Welfare Is Neither Free Market nor Capitalism

  Corporate welfare is the bestowal of money from a government to corporations. These bestowals may be to all corporations or just certain businesses, and the money may be in the form of tax breaks, guaranteed loans, grants or other types of preferential treatment. Corporate welfare is sometimes called cronyism or corporatism. Regardless of the

Clinton’s Campaign Threatened by Economic Anxiety

George Gallup began conducting polls to measure public opinion in 1935, and there are few Americans who have never heard of the Gallup Poll. The company has been conducting regular polls to measure the level of confidence Americans have in the nation’s economy, and the results show that the majority of the respondents are pessimistic

Trump Riding Populist Sentiment with Promise to Bring Back American Jobs

Populism has been one of the most versatile political positions for more than 2,000 years. In simple terms, it holds the view that the common citizens are suffering from exploitation, mistreatment or abuse meted out by an elite group. The elites are viewed as using immoral or illegal methods to trample on the values, rights

Truth in Payday Lending – The Online Lenders Alliance Sets the Standard

It’s important to understand the truth about payday loans–or any loan or type or credit–before agreeing to the terms. The recent rise of the OnlineLendersAlliance (OLA)has happened in response to lots of misinformation, hyperbole and politically motivated horror stories. People who want to apply for a short-term or Internet loan–at an office location or from

Globalism and the Growth of Income Disparity

Globalism refers to connectedness and communication networks that span continents and bring the world’s people closer together, and globalization refers to how globalism increases or decreases. Digital technology has increased globalism, global marketing and business opportunities, but this growth doesn’t mean that everyone gets a share of the wealth. There has been a growing gap

Google Censors Entire Payday Industry; Who Will Be Next?

Google, which handles an overwhelming percentage of online searches, has rules in place that ban advertising for products such as guns, tobacco, illegal drugs and products that don’t fit the company’s “family image.” These are usually AdWords ads, which are those listings that appear along with organic search results. Google decided to extend its mandate

Is Brexit the Lehman Moment for the $100 Trillion Global Bond Bubble?

Most economies have barely recovered from the 2008 subprime mortgage fiasco that was caused by sloppy lending practices at banks, overextended them and compromised essential liquidity to pay their own debts. Investopedia.com reports that Lehman Brothers, the fourth-largest investment bank in the United States, was forced to declare bankruptcy with $619 billion in debt versus

Brexit Unleashes a Financial Hurricane on Global Markets

Despite advanced polling technologies, voters can still surprise the media and politicians. Britain’s referendum on whether to leave or stay in the European Union was widely predicted to validate the U.K.’s continued participation with its European neighbors, but the voters decided to risk leaving the EU in hopes that it would stimulate faster recovery from

Clinton Praises Pending Payday Loan Restrictions

In recent years, payday lenders have endured increased scrutiny and harsh criticism from a variety of sources. Consumer protection agencies, citizen’s action committees, credit counseling services and even actors have all made public statements condemning payday loans. Many politicians have been quite vocal about the issue as well. Hillary Clinton has become one of the

Payday Loans Under Siege in Alabama

Considering the numerous outcries against payday loans from federal agencies, consumer groups and others, it is not surprising that payday lenders are under siege in Alabama. Payday lending has been discussed in the Alabama legislature for several years, but during this year’s regular session, a bill to regulate the industry made greater progress than similar

Everyone Hates Payday Loans – Except the 12 Million People that Use Them

In the history of the United States, few legitimate businesses have been attacked with the fervor and animosity that critics have been directing toward payday lenders. President Obama has spoken out against payday loans, and some of his top aides met with a coalition of religious leaders recently to discuss the need to regulate the

Elizabeth Warren Takes on the Payday Lending Industry

When Elizabeth Warren was still teaching law at Harvard, she came up with a plan to help the country’s borrowers. The senator’s idea was to establish an agency that protected consumers from crooked financial companies in the same way that the Consumer Product Safety Commission keeps people safe from faulty washing machines. Warren’s efforts resulted

Walmart – The Queen of Corporate Welfare

President Ronald Reagan introduced American voters to the derogatory term “welfare queen” while campaigning for the country’s highest office. According to Reagan, this was a woman who supposedly used manipulation and fraud to collect huge welfare payments. He claimed that there were a lot of them living in the United States. The real welfare queens