To keep people safe from real gangsters, it's best to keep loan credit like payday loans legal. Image from Wikimedia Commons.

Loan credit that is considered subprime is something that will always exist. The mortgage crisis over the last few years brought the term “subprime” into the national lexicon, and it applies to borrowing money from a loan lender without the credit scores that a top notch, or prime, lender would lend to. Bad credit loans come in many forms, such as a payday loan, a home loan or a car loan.

Loan credit did not always depend on scores

Loan credit, or credit of some sort, has existed for a lot longer than the current system of finance. Often enough, what was needed to secure credit was the promise of a future pay day. For instance, the organization that later became Bank of America gained great success by offering quick and easy loans, secured only by a promise to repay, after the 1906 earthquake and subsequent fire that ravaged San Francisco. Credit cards didn’t exist until the latter half of the 20th century, but people still occasionally needed a loan until payday.

Real loan sharks

Today, people who have stable income and a bank account can get a payday loan if they need one. As long as a person is responsible when he or she borrows money from payday loan lenders, there is no danger. However, prior to the early 20th century, it was a different story. Back then, if people needed money, they had to go to an underground lender, or “salary buyer.” Essentially, a person would borrow a portion of his next paycheck, which had to be turned over to the salary buyer. However, salary buyers could charge whatever they wanted and extract payment any way they wanted.

Supply and demand are real

As result of public outrage at underground lenders like “salary buyers,” states passed small loan laws, which raised usury rates. That way, people could have a supply for demands that were met legally and safely. Banning payday loans will keep real loan sharks in business. You can read more in the Payday Loan Facts and Statistics report on Personal Money Market.

Easy payday loans are here to help you NOW! (Thinkstock)

I don’t usually think of the words “easy” and “within two hours” when I think of loans, do you? But guess what I found out; there really are easy payday loans.

In the past, I have struggled with stacks of bills and harassing phone calls from creditors. When I finally reached the end of my rope while still thinking to myself, “I need money now,” I wasted so much time driving to the bank, waiting in long lines, filling out stacks of loan paperwork, waiting patiently for an answer, getting turned down and then heading to the next bank just to repeat the whole process. Finally, I had no choice but to give up, go home and watch the bill stacks grow, and the harassing phone calls continued. It was an embarrassing, difficult and long, slow, time-consuming process.

I wanted easy payday loans within two hours

When I need money now, I want a loan that is easy and available within two hours. I want a loan I can get without leaving my home office. I want a quick online application that I can fill out easily and without questions, and I want an approval within minutes. I want the loan money deposited in my bank account fast, hopefully in a couple hours or less. I want the embarrassment and stacks of bills and harassing phone calls to stop.

Here’s a list of what I really want in a loan:

• I want to get easy payday loans of up to $1,500
• I don’t want to fax documents
• I want to be able to get a loan even if I have bad credit or a bankruptcy
• As a matter of fact, I don’t want anyone even doing a credit check
• I want a secure online application
• I want everything to be done online. I don’t want to have to leave the house to apply, deposit the money or even to pay back the loan later
• I really don’t want any more hassles after dealing with hassles from bill collectors in the past
• I want an answer fast, preferably within 60 seconds
• I want loan money available in as little as two hours
• I want to be able to get a loan even if I am serving in the U.S. Armed Forces

I meet the conditions because:

• I have a job
• I have a checking account
• I am over 18 years of age

That’s all there is to it! That’s all I need to get easy payday loans. If you are looking for the fastest, easiest way to get loans, just like I did, you’ve come to the right place!

For easy payday loans, Apply HERE!

Online loans with instant approval

Applying for loans with instant approval can get you up to $1,500 in almost no time at all. There are typically no credit checks, so it doesn’t matter how good, bad or blank your credit history may be. These loans are online-based, so you can easily apply from the safety and comfort of your home or office, any time.
(Start application below.)

How it works

Personal Money Market works with a wide network of payday advance lenders that strive to provide consumers what they need as quickly and easily as possible. We know how difficult and time-consuming it can be to locate the right lender, which is why we offer loans with instant approval directly online.

Once you complete and submit the loan application, we will search and find the best lender for you, based on the provided information. The application can be completed in less than 3 to 5 minutes, and you get a quick response every time. There’s no waiting or wondering for hours; we’ll give you an answer almost the very moment you click submit. Upon approval, you can have cash in your hands, sometimes in as little as two hours.

Loans with instant approval provides quick help

When life’s unforeseen financial mishaps call for immediate attention, you can’t afford to waste any more time and money. Waiting till the last minute to take action can be costly. So if a little help today can get you back on your feet financially, apply today for loans with instant approval and get the quick help you need right here, right now.

Start your instant loan application HERE!

Enjoy capitalism. Payday loan customers do. (Photo: Flickr)

Payday loan rate cap laws have circulated in various forms through the halls of state-level politics in the U.S. for years. However, not all countries that allow payday lending to serve consumers in need of easy loans are so eager to institute a rate cap that could stifle the natural price controls present within a free market economy. The Guardian newspaper reports that the UK’s Office of Fair Trading (OFT) has found that an interest rate cap on payday lending is unnecessary, claiming that a lack of competition would harm that sector of the financial marketplace.

Payday loan competition not perfect, but works ‘reasonably well’

Access to easy loans and other forms of consumer credit that fall under the general payday loan banner is important for credit-constrained consumers. The OFT recognizes that market competition has helped regulate payday loan prices. The level of competition between easy loan outlets may not be as effective as it could be, but the OFT is confident in their assessment that payday lending markets work “reasonably well.” Despite resistance from the Archbishop of Canterbury, the Financial Inclusion Centre and the debt charity coalition Debt On Our Doorstep, the OFT concluded that the payday lending market did not need a more stringent rate cap. However, the OFT did recommend further investigation into how an industry-wide “code of practice” could be instituted for the UK payday loan industry.

Finance & Lending Association agrees with OFT decision

Fiona Hoyle, Head of Consumer Finance for the Finance & Lending Association, told The Guardian that a payday loan rate cap “would have adverse unintended consequences for consumers, including for the cost and availability of credit.” If governments follow the Office of Fair Trading’s lead regarding rate caps – and take note of the Dartmouth University study in the U.S. on the effects of payday loan rate caps in Washington and Oregon State – perhaps they’ll see just how maintaining competition can aid the consumer while still allowing easy loans outlets to reasonably profit.

Simply clamping down isn’t the answer

Marie Burton, financial services specialist at the consumer group Consumer Focus – which operates independently from the payday lending industry – told The Guardian that the OFT has exposed just how hard it is to both promote competition and help drive down consumer cost. While that is the ideal, additional research into the workings of the short-term consumer finance industry in the UK may be necessary. Pulling banks and credit unions into competition by encouraging them to offer low-cost, low-hassle payday loan products would be most ideal for the free market, although banks and credit unions have failed at this before, considering America’s example.

Sources:

The Guardian

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U.S. auto sales rose for the eighth consecutive month as credit thaws, consumer confidence increases and gas prices remain stable. Flickr photo.

U.S. auto sales jumped significantly in May, without a program like Cash for Clunkers, special tax breaks or any other government stimulus. Aided by a huge Memorial Day weekend, U.S. auto sales managed to finish the month 19 percent over May 2009. Analysts credit a rising consumer confidence index and lower gas prices for the increase in car buying. All U.S. automakers exceeded sales expectations for May, with SUVs making a comeback. Conspicuously lagging behind was Toyota, still feeling the negative effects of massive recalls earlier this year.

Car buying makes a comeback

The big increase in U.S. auto sales, like the consumer confidence index, is a leading indicator for an improving economy. The Associated Press reports that credit is loosening up for easy loans and gas prices are stable. Car buying rose despite an 8 percent decline in the stock market last month. U.S. automakers saw double-digit increases over the same month last year, when GM was headed into bankruptcy and Chrysler was already there. Foreign automakers also saw increases of 20 percent or more — except for Toyota, whose sales rose just 7 percent.

Rising consumer confidence, stable gas prices

U.S. auto sales statistics were fueled by a consumer confidence index that rose to its highest level since March 2008, according to  businessweek.com, which also reports that the daily national average of gasoline prices tracked by the American Automobile Association has remained less than $3 for more than 18 months. Gas prices contributed to the comeback in SUV sales like the Chevrolet Equinox and Ford Edge. Overall U.S. auto sales rose to 1.1 million, the eighth straight monthly increase, the longest streak in almost a decade, according to Bloomberg data.

Auto sales statistics

U.S. auto sales for General Motors, the No. 1 U.S. automaker, were up 17 percent compared to May 2009. CNNMoney.com reports that GM’s sales gains were led by a 32 percent rise in sales of four of the brands that survived its bankruptcy filing: Chevrolet, Buick, GMC and Cadillac. Sales of the brands GM shed as part of its bankruptcy were down 94 percent from a year ago, although those brands now make up less than 1 percent of the company’s U.S. sales. It has less than 1,500 of those brands’ vehicles left in inventory, most of them Hummers. Ford reported a 23 percent rise in sales at Ford, Lincoln and Mercury — although it announced that Mercury will be discontinued at the end of the year. Even Chrysler posted a 33 percent sales increase — although it virtually ceased production during its bankruptcy last May.

Auto sales: room for improvement

The recent run of U.S. auto sales increases is welcome news after four consecutive years of decline in the U.S. auto market through 2009. Reuters reports that major automakers expected overall sales to be about 11.5 million in 2010. That would be up from the 27-year low of 10.4 million sales recorded in 2009.

Sunda Croonquist (Photo: Hamptons Comedy Festival)

Then Sunda Croonquist’s mother-in-law can have it. If we’ve reached the point where we can no longer poke fun at each other, then society has reached the point where its trappings are no longer of interest for me anymore. If nobody can prove to me that comedy still has a place in this life, then I’ll head for the trees and live the remainder of my life in “George of the Jungle” style. I’ll just have to track down two young wives, develop an affinity with jungle creatures and watch out for that tree. Or at least get my hands on easy loans for a collection of crash helmets.

Considering that I’ve lost one wife, I’ll need to redouble my efforts…

The Associated Press reports at http://www.google.com/hostednews/ap/article/ALeqM5gntGLagH0ecSgNx1EHvRFMYI8hUgD9AA1UJG0 that the half-black, half-Swedish comedian (and former Miss America runner-up) has pushed her Jewish mother-in-law Ruth Zaffrin, sister-in-law Shelley Edelman and Shelley’s husband Neil one matzo too far. See the video below and you’ll get a flavor for her act. She brings up her mother-in-law a lot because she is a character, because she is genuinely funny. It isn’t an off-color race joke or religion joke that she uses… Sunda Croonquist appears to be a clean, skilled comedian.

Read them the charges, Steve

The yenta has accused Croonquist of “spreading false, defamatory and racist lies.” It’s all in the regular rotation of her act, which she performs in nightclubs and on various Comedy Central programs. To Croonquist, it’s natural observational humor that is most often based on the culture clash between an older white Jewish woman and a young black Swede who was raised Roman Catholic. Here’s a sample from her act, where MIL is speaking to DIL:

OK, now that we know you’re having a little girl I want to know what you’re naming that little tchotchke. Now we don’t want a name that’s difficult to pronounce like Shaniqua. We’re thinking a name short but delicious. Like Hadassah or Goldie.

It’s harmless stuff

And if what Sunda Croonquist says is accurate, her mother-in-law used to think so, too. They used to watch tapes of her act. “They played my tape at Passover one year, and they loved it!” she said.

Perhaps it was that little slip on her Web site. While promoting upcoming shows in New Jersey, Croonquist gave a little bit too much information – information that apparently made it easy to discern the identities of her in-laws. Hence, the suing began in the grand American tradition of “it’s funny until the mask comes off. Now give me my money.” Damages are being sought in U.S. District Court in New Jersey, and they’re demanding that Croonquist remove “any offensive statements from her Web site, routines and recordings.”

Humorless, like the color of woolen phlegm

Are we really so humorless now? Goodness knows we need humor more than ever in an increasingly bleak world. Sunda Croonquist has agreed to remove the statements, but she refuses to pay damages. Now the courts get to latch on and suckle for all they’re worth. Interestingly, her lawyer husband’s firm is representing her in the lawsuit. Wonder how mom likes that?

Get over it, mom

(Photo: guidespot.com)

Her recent act is mostly clear of the whole in-laws thing, but not entirely. No first names anymore, but it’s still very solid material. For instance, when she meets her Jewish New Jersey sister-in-law, the sister says, “Oh my Gawd, look at her, she’s got light eyes and light hair. What kind of black person is she?”

Sunda responds in her best “street” voice, “A black person who can hear, that’s who.”

It’s tame material

“They’re nice jokes,” says Croonquist.”There’s nothing bad, nothing defamatory.” Plus Sunda turned Jewish before she met her husband and has kept a kosher home ever since. Do you seriously think she’s an anti-Semite, Ruth?

Prove it wasn’t just a joke

“Most people who sue under these kinds of circumstances are way too sensitive,” First Amendment law expert Gary Bostwick told the AP. “If they contact a lawyer like me I would tell them that, without seeing the script and the blog I have no idea who is right and who is wrong, but I do know there is a very strong defense: It’s very difficult to prove that it was not just a joke.”

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While Ruth Zaffrin’s action could have broken up Sunda Croonquist’s marriage, the comedian rolls with it like a healthy, optimistic person. She claims that if she’d known that was coming, she’d have “tried to make a worse first impression.” She would have tried to make a worse first impression, perhaps something more gangsta. Picture a little of Queen Latifah meeting Steve Martin in the clunker “Bringing Down the House” and you get the idea.

Speaking of that, if your house is coming down and needs some repair, apply here for an easy loan. It could help you out a great deal.

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Production is on the rise

If you need easy loans just to make it from paycheck to paycheck, and even then you could still use some extra cash, take heart. Recently there have been hopeful signs that the current recession is coming to an end.

At the end of July, the government reported that the real gross domestic product (GDP) fell at an annual rate of only 1% in the second quarter. Manufacturing activity rose to its highest level in the last year. Car sales jumped 15% and manufacturers are ramping up production. Based on the data now available for July, experts are predicting that the GDP will increase by as much as 3% in the second quarter.

Home sales are on the rise

Another encouraging trend is that existing home sales are on the rise. Between April and May, the S&P/Case-Shiller 20-city index of house prices fell just 0.2%, the smallest decline in the past two years. Stabilizing house prices are expected to reduce mortgage-loan defaults, shore up bank balance-sheets and improve the flow of credit.

Oddly, unemployment is also on the rise

Employment, however, is the single most important economic benchmark, and the outlook on that front remains grim. Unemployment rates are still on the rise, which is surprising given that economists generally predict that an increase in the GDP will be accompanied by a decrease in the unemployment rate.

The accuracy of this rule of economics, called Okun’s law, has been disputed, however; and according to Michael Feroli, an economist at JPMorgan Chase, Okun’s law would have predicted a national unemployment rate of only 8.6% during the second quarter of this year, whereas the actual rate averaged 9.3%.

Many factors influence the rising unemployment rate

Several factors may be at work in the discrepancy between the improving GDP and the worsening unemployment rate. Last week, the government revised earlier data to show that the GDP has declined a cumulative 3.7% (rather than 2.5%) since the end of 2007, tying with 1957-58 as the deepest recession since the Great Depression.

Also, expanded unemployment-insurance benefits are encouraging some workers to keep looking for jobs rather than drop out of the workforce altogether, which according to the government, could add as much as a half percentage point to the unemployment rate. Similarly, dissipation of wealth is driving people to look for employment rather than retire or stay at home with the children.

Another factor may be that employers have been quick to slash payrolls. Businesses are budgeting more conservatively because of the credit crunch, and many are pessimistic about an eventual economic recovery.

Whatever the explanation, productivity is rising and so is unemployment. According to a recent article in The Economist, Robert Hall of Stanford University, head of the academic committee that identifies and assigns time frames to recessions, says Okun devised his law in an era when productivity usually fell during recessions: “When productivity rises, the law fails.” Okun’s law, he says, is “obsolete.”

The rise in production may be a false reading

Employers are not likely to do much hiring until it seems reasonably certain that the new growth in production will continue. And some economists are doubtful that what we are seeing is real growth. These experts attribute the recent increase in production to the replenishment of inventory after an extended period of filling new orders from existing inventory in idle factories. They point out that inventory replenishment gives production a temporary boost without a corresponding increase in consumer demand.

The federal cash-for-clunkers program may also have given production an artificial boost. Recent car sales have been strong, in large part because of the program, which offers subsidies of as much as $4,500 to people trading in older, higher-emissions vehicles for newer, more fuel-efficient cars. But the $1 billion set aside for the program, which was supposed to run for several months, was depleted within the first week. The House of Representatives has now voted to spend an additional $2 billion and the Senate is expected to do likewise. But cars bought now will mean fewer cars bought later.

Numbers have a way of changing

And one more qualification: Government figures are notoriously subject to revision. Even the Great Depression is getting worse. According to the latest revisions, the GDP fell 26.7% (rather than 26.6%) between 1929 and 1933. In another 50 or 60 years, or as soon as next week – who can say? — today’s fresh new growth in production may never have happened.