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If you’re in the United States, I hope you’re off somewhere enjoying a great meal with friends and family. I sure am!

Normal posting will resume tomorrow morning!

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Happy Thanksgiving from The Simple Dollar!

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Every other Sunday, The Simple Dollar reviews a personal finance book.

Peter Schiff is a huge pessimist about the future of the economy, and because of that, he’s probably the perfect person to write this book.

The Little Book of Bull Moves in Bear Markets is the seventh in a series of “Little Books” (I have reviewed the other six) that each focus on very specific areas of investing, each one discussing an individual investing strategy in detail, but using layman’s terms to make the … Continue Reading

Michael writes:

I’ve read several articles recently that claim the United States is headed into a period of deflation, but they made it sound like that was bad news. The way I understand it, deflation means lower prices for everyone. How can that be bad?

Several commentaries from various writers and radio broadcasters are circulating at the moment predicting a “deflationary spiral” for 2009 and beyond. I read about this first in the November 13 issue of The Economist in an article entitled Depressing Times. On the surface, that might … Continue Reading

Last week I wrote an article Banks Agree to Wipe Out Up to 40 Percent of Credit Card Debt But Watch Out but more information has come to light since then.

While consumer advocates are happy about the possibility of getting banks to write off as much as 40% of the debt in order to help consumers avoid bankruptcy, this is a well intentioned plan that is still half baked.

Proponents of this initiative have not clearly thought out all the issues and appear to not be spending time learning from what has and has not worked from outside the … Continue Reading

Average household debt in the United States is 130 percent of average household income, up 20 percent since 2005 and double what it was 20 years ago. The U.S. household savings rate is close to zero. Consumer confidence has plummeted with the value of 401(k) plans and retirement nest-eggs. Retail sales fell 1.2 percent in September, double the expected decline. Car sales are at a 15-year low. And credit card defaults look like the next shoe to drop as cash-strapped Americans have run up credit card debt to postpone the day of reckoning.

Click Here for totally free debt help, … Continue Reading

Having worked for years in the medical field I applaud anyone that decides that they want to become a doctor. But I’ve met my share of people that seem to have become doctors for “the money” or who once they became doctors, wanted to do something else with their lives.

Being a doctor is not easy, but being a medical student today is even harder. With student loan debt for medical school and studies, escalating, it is not unusual for doctors to wind up with hundreds of thousands of dollars in debt.

I’ve talked about the side effects of debt a lot. … Continue Reading

But the most visible stress is on the cardholders, and it’s showing up in headlines, in call-center employees under crushing debt, even in a new Bollywood movie about middle-class people struggling with credit.

Consumer credit, whether cards or car loans, is relatively new to India. Fifteen years ago, even home loans were hard to come by. As regulations on lending were relaxed and India’s urban middle class swelled with 20-somethings hungry for the latest cellphone model, credit expanded to meet the need.

Banks went too far, analysts say, issuing cards indiscriminately to people in rural areas and lower-income groups without regular salaries. … Continue Reading

Even more striking, an overwhelming surge in the demand for gold has forced several Internet sites and gold vendors to temporarily shut down their sales operations.

“I’ve never seen anything like this. We’re basically sold out until the end of the year,” said Robert Hartmann, co-founder of ProAurum, a gold vendor based in Munich.

Despite the shortages, about 200 customers line up at his counter every day, he said, asking for coins and bars, not certificates. According to his estimates, “only about 5 percent of German investors” are interested in converting a small part of their savings to gold, “but it’s enough … Continue Reading

Attorney General Bill McCollum announced this month that his office is investigating the unregulated debt relief industry. Until he can persuade lawmakers to impose rules, McCollum hopes lawsuits his office has filed and its investigations “send a message to this industry that preying on consumers in financial distress will not be tolerated,” according to an Oct. 15 statement.

The Attorney General’s Office has filed five lawsuits and is reviewing or investigating more than 30 others, including one involving Outreach Housing LLC, a Broward County company that does business in Palm Beach County.

More than 100 of the 600 homeowners who filed complaints … Continue Reading

In China, it's pay up … or else Seattle Times, United States - 41 minutes ago Since then, he has pared his overall credit card debt to $2900. "I am so ashamed," Deng said. "I have no face to meet my father. When I look back, …

This artile is definitely worth reading to make you appreciate good old debt collectors in America.

Click Here for Credit Card Debt Help

Source: In China, it's pay up … or else - Seattle Times

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