Category Archives: Debt

no way we can go on like now with 56 trillion dollars of overall debt

Why the USA can’t inflate its way out of debt.

Mar 11, 2010. Why the U.S. can’t inflate its way out of debt. Financial Times. It’s dawning on people that getting a handle on burgeoning U.S. debt will be a long and hard process. So if lawmakers can’t agree on … Continue reading

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Debt relief scams

Aug 20 2013 CFPB Files Suit Against Morgan Drexen for Charging Illegal Fees and Deceiving Consumers Company Made Misleading Claims about its Debt-Relief Services to Consumers May 30 2013 CFPB Takes Action to Stop Florida Company From Engaging in Illegal … Continue reading

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Auto Loan Scams

Dec 20 2013 CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing   Ally to Pay Additional $18 Million in Civil Penalties for Harming More Than 235,000 Minority Borrowers Jun 27 2013 … Continue reading

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CFPB Sues For-Profit College Chain ITT For Predatory Lending

Feb 26 2014 CFPB Sues For-Profit College Chain ITT For Predatory Lending ITT Pushed Consumers into High-Cost Student Loans Likely to Fail WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against ITT Educational Services, Inc., … Continue reading

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Consumers Report Being Hounded About Debts Not Owed

Mar 20 2014 Consumers Report Being Hounded About Debts Not Owed Top Debt Collection Complaints Also Include Aggressive Communication Tactics and Threatening Illegal Actions WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a report on the more … Continue reading

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Credit Card Debt

May 1, 2008 U.S. Credit Card Debt Soars to Unprecedented Heights http://en.epochtimes.com/news/8-4-28/69849.html Studies indicate that credit card defaults and related write-offs increased drastically since 2006. Today, lenders write off 33 percent more in credit card debt than they did two … Continue reading

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The congressional report on “The Financial Crisis” and what happened

The Financial Crisis Inquiry Report. Final Report of the national Commission on the Causes of the Financial and Economic Crisis in the United States 2011. Phil Angelides Chairman, Brooksley Born Commissioner, Senator Bob Graham Commissioner, etc. This is the best … Continue reading

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Trillion of dollars of debt and unfunded liabilities

Unfunded liabilities Boston University economist Laurence Kotlikoff has calculated that the U.S. government is facing unfunded liabilities of 222 trillion dollars in the years ahead. To name just a few: Medicare and Medicaid, social security, service treasury bonds, food stamps, … Continue reading

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Cities will go bankrupt

As the cost of energy keeps rising, and more and more “money” goes to obtaining energy, which leaves less for everything else.  And since capitalism depends on growth, but we’re on the cusp of shrinking back to the stone age, … Continue reading

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