http://www.freerepublic.com/tag/credit/ en-us Fri, 1 Jan 2010 16:54:21 GMT Focus Forum 15 http://www.freerepublic.com/focus/f-news/2419003/posts Global Financial Crisis, Globalization And The Economy In 2010 Economics / Credit Crisis 2010 Dec 31, 2009 - 01:01 PM By: Ty Andros Human Behavior and the Broad Social Trends Driving the Global Financial Crisis, Globalization and the Economy in 2010 - PART II THE TAKEOVER OF THE AMERIKAN HEALTHCARE SYSTEM PROCEEDED ON CHRISTMAS EVE AS THE GANG OF 535, ALSO KNOWN AS CAPITOL HILL, ONCE AGAIN VOTED AGAINST THE INTERESTS AND SENTIMENTS OF THE AMERICAN PEOPLE Nearly 60% of all Americans opposed this legislation, just as they opposed the bank bailouts, the bailouts of AIG insurance, General Motors and... The Market Oracle http://www.freerepublic.com/focus/f-news/2419003/posts#comment Fri, 1 Jan 2010 16:54:21 GMT http://www.freerepublic.com/focus/f-news/2412050/posts For those consumers who want to know what it’s really like to be gouged by a credit card company, check out First Premier Bank. The subprime credit card issuer is experimenting with a new card that hits customers with a 79.9% interest rate. Yes, 79.9%. The card used to come with a 9.9% rate, but now that the government is forbidding excessive fees on credit cards, First Premier is attempting to recoup its money through a different means. Until now, the company levied $256 in fees in the first year for card holders—who received a credit line of just $250.... AllGov http://www.freerepublic.com/focus/f-news/2412050/posts#comment Mon, 21 Dec 2009 05:21:55 GMT http://www.freerepublic.com/focus/f-news/2411878/posts One mistake could cost Trina Lee her Christmas. Things have been tight for the Arizona-based nursing assistant since she got laid off two years ago and suffered some medical problems that have kept her from working full-time. [...] Earlier this month, she was feeling temporarily flush because she has prepaid most of her bills and figured the rest of her December income from child support and a part-time job could be spent on Christmas gifts. So she splurged on a $65 meal with her mom and brother, knowing that it was possible that this one meal could overdraft her checking... Los Angeles Times / latimes.com http://www.freerepublic.com/focus/f-news/2411878/posts#comment Sun, 20 Dec 2009 22:45:47 GMT http://www.freerepublic.com/focus/f-news/2407872/posts Global Financial Crisis, No Bailout Will Stop It Stock-Markets / Credit Crisis 2009 Dec 15, 2009 - 04:21 AM By: Mac Slavo Sometimes, a bailout is not enough. When Dubai World black swanned global investors last month with what amounts to be a reported $80 Billion in debt liabilities, it sent shivers down the spine of many a financial manager and stock trader. For those who were paying attention, Dubai’s troubled assets were no surprise, it was simply a matter of time. Oft repeated by contrarian analysts and investors like Dr. Doom Marc Faber, Gerald Celente, Jim Rogers, and Karl... The Market Oracle http://www.freerepublic.com/focus/f-news/2407872/posts#comment Tue, 15 Dec 2009 14:13:01 GMT http://www.freerepublic.com/focus/f-news/2406823/posts President Barack Obama's economic advisers are talking tough about the banks ahead of his meeting with heads of financial institutions. Larry Summers and Christina Romer say Obama will press bankers Monday to ease lending to help Americans get back to work. As Summers put it, bankers need to recognize that "they've got obligations to the country after all that's been done for them." He says no major bank would be intact without the government's bailout of the financial sector, and now they need to do all they can to get credit flowing again. Associated Press http://www.freerepublic.com/focus/f-news/2406823/posts#comment Sun, 13 Dec 2009 23:45:08 GMT http://www.freerepublic.com/focus/f-news/2406498/posts Credit cards get their licks in now before consumer law takes effect Rate hikes, fees take effect before new law Tennessean http://www.freerepublic.com/focus/f-news/2406498/posts#comment Sun, 13 Dec 2009 09:40:52 GMT http://www.freerepublic.com/focus/f-news/2405000/posts Grim Words From Capital One’s CEO By Eric Fry 12/10/09 Laguna Beach, California – If the credit crisis is genuinely over and the economy is genuinely on the mend, someone forgot to notify Capital One Financial, one of America’s largest issuers of consumer credit. Yesterday afternoon, at the Goldman Sachs US Financial Services Conference in New York City, Capital One’s Chairman and CEO, Richard D. Fairbank, wowed the crowd with a dizzying collection of grim assessments and forecasts. In no particular order, Fairbank observed: 1) “The storm is not over and we continue to face several significant risks.” 2) “With... The Daily Reckoning http://www.freerepublic.com/focus/f-news/2405000/posts#comment Fri, 11 Dec 2009 00:22:11 GMT http://www.freerepublic.com/focus/f-news/2404897/posts Duluth architecture firm donates $5,000 for credits to offset carbon from the Bentleyville light display duluth new tribune http://www.freerepublic.com/focus/f-news/2404897/posts#comment Thu, 10 Dec 2009 22:02:31 GMT http://www.freerepublic.com/focus/f-news/2404337/posts Nikkei Falls 1.1% As Yen, Credit Worries WeighBy Aiko Hayashi Wed Dec 9, 2009 11:44pm * Credit woes in Dubai, Greece weigh on confidence - analyst * Sharp rebound rally may have come to an end - analyst * Suzuki down after Volkswagen deal announcement TOKYO, Dec 10 (Reuters) - Japan's Nikkei average fell 1.1 percent on Thursday after a recent sharp rebound, as credit troubles overseas weighed on investor confidence and a stronger yen pressured shares of exporters. Suzuki Motor (7269.T) skidded nearly 5 percent, erasing the gain logged Wednesday on hopes for an alliance agreement with Volkswagen, after... Reuters http://www.freerepublic.com/focus/f-news/2404337/posts#comment Thu, 10 Dec 2009 05:10:21 GMT http://www.freerepublic.com/focus/f-news/2404253/posts No Credit. No Economy. By Eric Fry 12/09/09 Laguna Beach, California – “The great American consumer deleveraging continues,” our colleagues at The 5-Minute Forecast observed yesterday. “The Fed announced that consumer credit shrank for a record ninth month in a row in October.” Consumer credit, as we all know, drives a big chunk of consumer spending, which drives a big chunk of the American economy. Ergo, no credit; no economy. But consumers are not the only borrowers between the Atlantic and the Pacific who contribute to economic activity. Commercial and industrial (C&I) borrowers also play a large role. The dots... The Daily Reckoning http://www.freerepublic.com/focus/f-news/2404253/posts#comment Thu, 10 Dec 2009 02:17:27 GMT http://www.freerepublic.com/focus/f-news/2403681/posts Developed Countries Rapidly Blowing AAA Ratings And Entering Debt Crisis Danger Zone Joe WeisenthalDec. 8, 2009, 3:43 PM Here's a fantastic chart from Moody's, courtesy of David Goldman, showing the ratings trajectory of various Western developed countries. Basically, Switzerland is the only country not to be racing headlong into the purple -- non-AAA -- zone. Says Goldman: Under US government projections, debt service will exceed 10% of GDP by 2013, which means that by one measure the US will move out of AAA territory. But the UK, Germany and France will be headed in the same direction.[snip] The Business Insider http://www.freerepublic.com/focus/f-news/2403681/posts#comment Wed, 9 Dec 2009 14:40:26 GMT http://www.freerepublic.com/focus/f-news/2402805/posts Stuart Varney was just on Fox and said Moody's will lower the United States bond rating for the first time ever in 2013 with current spending plans. Fox News http://www.freerepublic.com/focus/f-news/2402805/posts#comment Tue, 8 Dec 2009 14:24:07 GMT http://www.freerepublic.com/focus/f-chat/2402402/posts The offer could tempt anyone buying holiday gifts: Open a store credit card and save 20 percent on your purchase. The smiling sales clerk makes it sound like a no-brainer, and explains there are absolutely no fees. You'll even get alerts about special sales and promotions. What won't be so eagerly volunteered is the high interest rate, or the impact applying can have on your credit score. Store cards are also limited and shouldn't be confused with co-branded cards. The latter carry Discover, Mastercard or Visa logos and can be used wherever those cards are accepted. There are times when... Waterbury Republican-American http://www.freerepublic.com/focus/f-chat/2402402/posts#comment Mon, 7 Dec 2009 23:16:48 GMT http://www.freerepublic.com/focus/f-news/2397546/posts Playing Tug Of War With Tthe Dollar Carry Trade And Risk Aversion Minyanville Staff Dec 01, 2009 8:40 am Today the “dollar carry trade” is back on as market strategists claim no contagion from Dubai. This perception is wrong, just as most strategists were wrong about saying that Subprime was contained. Problems at Dubai World aren't a lingering effect of “The Great Credit Crunch” but a clear warning that “The Great Credit Crunch” is far from over. (See also The Great Credit Crunch Is Deepening) It’s naïve to think that there aren't many more time bombs in the $206 trillion... Minyanville http://www.freerepublic.com/focus/f-news/2397546/posts#comment Tue, 1 Dec 2009 13:53:59 GMT http://www.freerepublic.com/focus/f-news/2394817/posts When convenience-store owner Dave Sutey looks at his bottom line, the second-largest expense is one you might not guess: Fees paid to credit-card companies and banks, to process credit-card purchases in his stores. “That’s ahead of rent, lease and payroll taxes,” says Sutey, whose 14 Thriftway Super Stop stores in southwest Montana have paid $312,000 in these fees the first 10 months of this year. “The profit of our entire industry is one-half of what the credit-card fees are.” Sutey and his allies in the retail industry, from gas stations to department stores, say they don’t mind paying something in... Helena Independent Record http://www.freerepublic.com/focus/f-news/2394817/posts#comment Thu, 26 Nov 2009 11:48:06 GMT http://www.freerepublic.com/focus/f-news/2390872/posts Apparently a "Global Climate Center" was hacked and the contents have been posted to the Internet. A ZIP file exceeding 60MB and containing a huge number of emails and other documents has been posted worldwide. Original speculation as to whether the files posted were legitimate or some sort of spoof appears to now be confirmed as legitimate: “It was a hacker. We were aware of this about three or four days ago that someone had hacked into our system and taken and copied loads of data files and emails.” I have not had time to read all of the material... The Market Ticker http://www.freerepublic.com/focus/f-news/2390872/posts#comment Fri, 20 Nov 2009 17:57:16 GMT http://www.freerepublic.com/focus/f-news/2389837/posts The Great Credit Crunch Is Deepening Minyanville Staff Nov 19, 2009 9:20 am Consumers will feel the effects in the form of tighter credit standards. Editor's Note: This article was written by Richard Suttmeier, chief market strategist at ValuEngine.com, which is a fundamentally-based quant research firm in Princeton, New Jersey, that covers more than 5,000 stocks every day. Within the proposed banking reform bill, the House Financial Services Committee wants banks and funds to make payments in advance for companies deemed “too-big-to-fail”. This fund will be capped at $200 billion, insuring that taxpayers won't wind up paying for a bailout... Minyanville http://www.freerepublic.com/focus/f-news/2389837/posts#comment Thu, 19 Nov 2009 14:49:42 GMT http://www.freerepublic.com/focus/f-chat/2386657/posts _ Chalk up another national-security threat _ this one looming with each excess pound, failing grade and drug bust affecting young adults. An alarming 75 percent of Americans ages 17 to 24 would not qualify for military service today because they are physically unfit, failed to finish high school or have criminal records. So says a new report from an organization of education and military leaders calling for immediate action on the early-education front. While some experts voiced doubt that obesity and other societal ills would keep three out of four young adults out of the ranks, the report titled... Boston Herald http://www.freerepublic.com/focus/f-chat/2386657/posts#comment Sun, 15 Nov 2009 01:41:23 GMT http://www.freerepublic.com/focus/f-news/2383272/posts Gold Slips To $1100 As UK Faces Potential Credit Ratings Downgrade Commodities / Gold & Silver 2009 Nov 10, 2009 - 07:43 AM By: Adrian_Ash THE PRICE OF WHOLESALE gold slipped 1% from Monday's new record high early in London today, briefly drifting through $1100 an ounce as Asian stock markets closed the day higher but European shares held flat. Crude oil ticked back down to $80 per barrel, but remained higher by one-third from this time last year. The US Dollar held steady after Monday's sharp losses. Ten-year Treasury bonds offered 3.45% in yield. "A correction is reasonable after... The Market Oracle http://www.freerepublic.com/focus/f-news/2383272/posts#comment Tue, 10 Nov 2009 20:52:39 GMT http://www.freerepublic.com/focus/f-news/2382474/posts When the Borrowers Stop Borrowing By Bill Bonner 11/09/09 Beunos Aires, Argentina – The Dow moved up 17 points on Friday, leaving it above the 10,000 mark. Gold rose too – it is at a new record high, only $5 below $1,100.(The DJIA closed today up 203 points) According to the news reports, the US economy is ‘growing’ again. Yes, that’s the official storyline. But wait, what kind of growth is this? David Rosenberg: “All we can say is that if the overwhelming consensus is correct that the recession is behind us, then what we have on our hands is... The Daily Reckoning http://www.freerepublic.com/focus/f-news/2382474/posts#comment Mon, 9 Nov 2009 22:38:51 GMT http://www.freerepublic.com/focus/f-news/2380707/posts The fiscal strain of deteriorating pension funding levels on local and state governments could contribute to downgrades in the next several years, especially among those governments that entered the recession with poor funding ratios or have little flexibility in their funding requirements, a new report from Moody’s Investors Service warns. In the near term, the impact of dwindling investment returns as a result of the market downturn is broad and adds yet another layer of fiscal stress on governments already faced with faltering tax revenues, heightened demand for social services, and pressure to scale back pension contributions to balance their... Financial Planning http://www.freerepublic.com/focus/f-news/2380707/posts#comment Sat, 7 Nov 2009 07:38:17 GMT http://www.freerepublic.com/focus/f-news/2380396/posts Consumer Credit: AwfulFriday, November 6, 2009 Posted by Karl Denninger Where are my green shoots? Consumer credit decreased at an annual rate of 6 percent in the third quarter of 2009. Revolving credit decreased at an annual rate of 10 percent, and nonrevolving credit decreased at an annual rate of 3-3/4 percent. In September, consumer credit decreased at an annual rate of 7-1/4 percent. Yuck. Here's the graphical representation. Nothing good in here. The non-revolving flattened out some in September (gee, you think "cash for clunkers" might have influenced August and September?) but revolving credit - that is, credit cards... The Market Ticker http://www.freerepublic.com/focus/f-news/2380396/posts#comment Fri, 6 Nov 2009 22:54:23 GMT http://www.freerepublic.com/focus/f-news/2378840/posts U.S. stocks erased most of a 156- point rally in the Dow Jones Industrial Average after a House bill to curb credit-card rates spurred concern about bank earnings, outweighing the Federal Reserve's plan to keep interest rates at a record low. Wells Fargo & Co., JPMorgan Chase & Co. and Citigroup Inc. led financial shares to the steepest loss among 10 industries as the vote moved up the start date of many rule changes that will make it more difficult for lenders to raise rates on existing credit cards. The Standard & Poor's 500 Index wiped out most of a... newsvine http://www.freerepublic.com/focus/f-news/2378840/posts#comment Thu, 5 Nov 2009 02:19:38 GMT http://www.freerepublic.com/focus/f-bloggers/2375601/posts I have been job-hunting for some time now and applying for jobs online. I applied for one job in particular which is an office job and received the following email in response to my application and resume: "I have reviewed your resume and I am very interested in hiring you. Before I can setup an appointment, I would need your recent credit score. Your credit score is required because the position you applied for includes handling company cash and using a company credit card. Don't worry, if your score is low for a legitimate reason, you will have an opportunity... http://www.freerepublic.com/focus/f-bloggers/2375601/posts#comment Sun, 1 Nov 2009 00:34:00 GMT http://www.freerepublic.com/focus/f-news/2372565/posts Deflation Fears As Eurozone And US Credit ContractsBank lending to firms and households in the eurozone has fallen for the first time, raising fears of an economic relapse and a slide into deflation next year. By Ambrose Evans-Pritchard Published: 8:26PM GMT 27 Oct 2009 Data from the European Central Bank shows that the M3 broad money supply has contracted over the last six months, confounding expectations that ultra-low interest rates would soon boost monetary growth. Loans to the private sector fell 0.3pc from a year earlier, the first such decline since the data started in 1983. The M3 figures include... The Telegraph (UK) http://www.freerepublic.com/focus/f-news/2372565/posts#comment Wed, 28 Oct 2009 03:30:39 GMT