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Let's borrow $1 trillion to pay off bad mortgages!
That doesn't make alot of sense
The financial news these days certainly isn't boring. The article below talks about how the U.S. federal govt is going to use $1 trillion in debt to purchase toxic mortgages and get them off of the banks balance sheets.
Why does this seem so wrong.. Isn't there a term for this? Kiting?!! Using debt to pay off debt?
If consumers use debt to pay off debt, that will affect your credit score pretty badly. It tells the creditor that you're illiquid and that you don't have cash savings to pay your debt.
Fundamentally using debt to pay off debt is just wrong. It may ease the pain for the short term, but ultimately it's going to cost everybody alot more. in real estate What they're doing is taking the burden off of the individual mortgage holders, and putting it onto the over all population. That's not right, and it's not fair.
People need to be responsible for their own mortgages. If you can't afford to pay your mortgage, move to a lower cost situation.. The existing credit market is designed to work with these cases. It's not politically correct to let millions of people default on their loans and mortgages.. however there is a system to work this through. The mortgage companies and banks made piles of money at the beginning of this free-for-all mortgage bubble. Now they don't want to take the losses associated with their misdeeds.
Accountability is what it's all about. The banks get bailed out, and the individual has to take it on the chin.
Geithner Relies on Investors for $1 Trillion Plan
By Rebecca Christie and Robert Schmidt
March 23 (Bloomberg) -- The Obama administration unveiled its long-awaited plan to remove toxic assets from the books of the nation�s banks, betting that it can revive the U.S. financial system without resorting to outright nationalization.
The plan is aimed at financing as much as $1 trillion in purchases of illiquid real-estate assets, using $75 billion to $100 billion of the Treasury�s remaining bank-rescue funds. The Public-Private Investment Program will also rely on Federal Reserve financing and Federal Deposit Insurance Corp. debt guarantees, the Treasury said in a statement in Washington.
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Bicycling is cheap - and full of adventureI did my first 23 km bicycle ride yesterday.
I thought that for the first day of spring I should get out and bicycle some place. My favorite place to go is Southland Mall - which is an 10 KM ride, and then back home which is another 10KM.. (earlier in the day I went shopping on the bike which was 3 km.)
Along the way I stopped at Wascana Lake in Regina and took some pictures of the sites and people and geese on the lake.
 I can't believe how much I missed bicycling over the winter time. It's a time to get out doors, get some fresh air, see the sites and get exercise.
It's also a cheap way to travel. I spent $1.49 at Southland mall to purchase trail mix for the ride. Better than a car loan!!
I was pleased that I was able to ride 23 km in one day, and especially at March 20th.. Last year it took me until June or July to before I could go that far on the bike with out passing out.
This year I plan to travel to Moose Jaw and back, which would be 130 KM in a day. I also plan to do even longer runs, which will take more practice and getting into shape.
The benefits of bicycling last year - Summer 2008:
- I lost around 50 lbs
- My heart was greatly strengthened
- My leg muscles get strengthened
- I lowered my cholesterol down to normal
- I saved a bunch of money on car expenses.
- I enjoyed the summer probably the most in 25 years.
- I relieved a ton of stress
The benefits of bicycling have been absolutely tremendous. For such a low cost transportation, the benefits and enjoyment have been wonderful. I would say that I enjoy riding my bicycle even more than driving my Cadillac CTS.
During this economic down turn.. why not take your bike, instead of the car.? It will save you money and you'll really enjoy it. (After you get used to it ! )
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You've got to Live - Spend Your Money???I was listening to a radio talk show this morning and the fellow was talking about the economy. The radio announcer was complaining about Suze Orman and Suze's style of money coaching.
The comment came up that Suze recommends that people save their money and cut down on expenses. The announcer then indicated that people need to live their lives and spend their money!
I love that logic.. the announcer said, "well yeah, you need to save and pay down debt, BUT you also need to live your life."
Isn't that what got us into this problem in the first place?
Here's my point:
1) If you don't have sufficient cash reserves - you NEED TO sacrifice and start saving your money
What this yappy announcer failed to mention was this:
Most Canadians and Americans have really low savings rates. We love to spend our money , but hate saving it.
This becomes a huge problem in an economy such as this economic crisis. If all individuals had an abundance of cash reserves they would never be worried about losing their jobs . They wouldn't be worried about paying bills or paying down debt. Quite frankly, I don't think individuals would have too much debt if they had an abundance of cash saved.
For those who have no savings, and are in debt... It's my opinion these people should take a time out from spending, and put their money in the bank. Plain and simple... Just save it.
You have to live, I agree, however you need to have safety measures in place. Why are Americans so worried about this economic down turn? If they had sufficient cash reserves in place, and little debt, there wouldn't be much to worry about.
IE.. If Americans and Canadians were recession proof, they wouldn't have to worry.
What harm would it do to Sacrifice for a few years and save money ?
So you kids have less toys.. you have less vacations.. you have less consumer products.. you eat out a little less.. What would your kids say about that?
Your family might complain for a few years about not having any money to spend. At the same time, you would have less fights because of lack of money, less stress, and less worry about paying bills.
What's more important to you, instant gratification or long term peace of mind?
I wish that the media would get on board and stop asking consumers to borrow more and spend their way out of the economy. Consumers need a financial rest. They need to have their money take a time out and spend some lonely time in the bank account.
Ultimately this will make the consumer feel better, and eventually give them a more confident feeling when they start to live their life!
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AIG Bonuses - Don't eliminate the Trust Factor!I must admit that I think giving bonues to execs who've lost $68 billion is completely wrong. But as mentioned on the news, it's in their contract.
The federal goverment should have known about these bonuses prior to purchasing 80% of the company. They should have been away of the income statement and balance sheet prior to purchasing the company.
Where I think it's completely ridiculous to give these execs $165 billion in bonuses, I think it's worse for government to step in and renege on their contracts.
I would be furious if a government of any type stepped in and started dictating what I can and cannot do with contracts in my business.
IMO.... the government shouldn't be getting involved in private business. That's eroded alot of confidence in the market place. Having government involved in private business means that business can't operate on it's own and needs life support.
Having government interfere with private enterprise contracts is the next step to BIG BROTHER and socialism.
It will erode trust even further with businesses. Businesses will be concerned if they should do something lest the government jump in and act.
I know that this is an extreme example, but when contracts are legally binding, they should be allowed to carry out, in a lawful fashion.
According to:
http://news.hereisthecity.com/news/business_news/8869.cntns
(AIG) Staff Get 'Death Threats' Over Bonuses
The furore over the $165m in bonuses AIG is contractually obliged to pay staff at its Financial Products Group (the unit that basically brought down the firm) reached fever pitch over the last couple of days.
The Times reports that armed guards have now been placed outside the Connecticut offices of AIG Financial Products, after staff there received death threats over the bonus payouts. Several staff are said to have refused to come to work, and others are thought to have quit. And we even had US Senator Chuck Grassley telling a radio audience earlier in the week that AIG executives should 'resign or go commit suicide' (he later clarified that remark, saying he didn't really mean that they should actually kill themselves, instead suggesting that they say 'sorry').
In the meantime, House Speaker Nancy Pelosi hopes to enact legislation in the coming days in order to slap a heavy additional tax charge on the AIG bonuses (will effectively cancel them out), and Representative Barney Frank has suggested that the US government simply step in and assert its ownership of AIG. Frank told a group of reporters Tuesday that the government needs to say, as owner of the firm: 'No, I'm not paying you the bonus. You didn't perform. You didn't live up to this contract'. And Treasury Secretary, 'dim' Tim (Geithner), has said that he is looking into the matter (he may - like all his other schemes - have a plan for a plan, with more details sometime never).
How is anybody supposed to get any work done in this trustless environment. Who would want to work in the company after all of this headline news?
I think for next time, the AIG Bonus contracts should be reconsidered. However, at this time, pay the bonuses and keep to your agreements. Agreements and fulfilling agreements are the glue of the North American economy.
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Using Credit Cards as Income - A definitionIn my previous post, I talked about how you can use credit cards as a beneficial tool in your day to day finances.
In this post, I would like to talk about what using credit cards as income source means.
By allowing people to make minimum payments on their credit card debts, the credit card companies make it tempting to use credit cards as an income source.
The following are ways you could be using credit card as income.
1. Buying expensive items that you can't afford
2. Buying day to day goods on credit
3. Purchasing small items that you don't need and can't afford.
Buying expensive items that you can't afford
You say to yourself, "this item costs $1,000, but I can afford the minimum payments of $30".. I've heard this said so many times, and used as to how people justify their purchase.
What you're doing is giving yourself a $1000 payday bonus that's going to cost you alot in the end interest wise.
A better way to do this is .... Save up $30 per month until you can afford the $1,000 to make the purchase. It requires patience, however, if you really want the item then this is a better way to make the purchase.
Buying day to day goods on credit
You've spent all of your earnings and you still need money to buy day to day goods. You use your credit card to make up for the short fall in income.
This is a really bad trap to get into. What it tells the credit card company is that you do not have the ability to pay your bills, and that you're becoming a bad credit risk.
If you're running into this problem, it's a good idea to cut back expenses to the very bare minimum , and / or get another job to earn more money.
Even though access to cash advances on your credit card is easy to do ... trust me.. Using your credit card as income in this case will certainly cause alot of headaches in the future.
Purchasing small items that you don't need and can't afford.
You go to the mall and make several small purchases that you don't have the cash to repay.
You justify this by saying to yourself.. This necklace only costs $25. I can easily pay that off this month. The problem is you make several of these small purchases that add up. Eventually you start to carry a balance that you can't pay off each month.
IF YOU CAN'T PAY IT OFF EACH MONTH, THEN YOU'RE USING YOUR CREDIT CARD AS INCOME
Simply stated, you should always have enough cash in the bank to cover your credit card purchases. You should pay your account in full every month.
If you're carrying balances and paying interest, then you're using your credit cards as an income source.
I wrote this post to give people a new light to their credit card habits. In this economic crisis turmoil that's brought on by consumer spending and debt, I'm hoping that we can change the way people think about using their credit cards.
Use credit cards as a tool.. and not a source of income.
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Using Credit Cards as a Financial ToolAs I'm watching the economic news, it's hard not to hear headlines of credit card defaults, and other problems people are having.
People have been using credit cards as a source of income, when they should be using them as a financial tool.
The best example of using credit cards as income is when an individual purchases and item or service when you don't have the cash in reserve to pay off the balance in full every month.
This of course leads to individuals carrying balances on their cards, which usually increase over time.
I recommend that people use credit cards as a financial tool.
This means that you take advantage of the credit cards benefits, excluding being a source of income.
Some of these benefits are:
1. Convenience to make purchases online
2. Saving money on ATM withdrawals
3. Receiving rewards for credit card purchases
4. Receiving 30 days of free money
Convenience to make purchases online
This is one thing I use credit cards for all the time. I like to purchase software or training programs online, and of course I can't pay cash or debit card. Online companies only take payments from Paypal, credit cards or other online payment services.
Many of these services I cannot find locally, and in order to stay competitive in my business, I need to have competitive software and training for that software.
Saving money on ATM withdrawals
I learned this lesson the hard way.. I used to use my debit card at ATMs alot . I want to pay cash for things but my service charges were adding up quickly.
I decided to pay for what I normally purchase using credit card, and then promptly pay the credit card bill when I receive it.
The credit card companies don't make you pay service charges for purchases so you can do a bunch of them with out paying.
Receiving rewards for credit card purchases
I use my Canadian Tire Mastercard to buy things. I receive rewards with with I can use to buy things at their store. This is a great way to purchase household items using points.
At one point in my business, I was getting $100 per week in Canadian Tire points, and it was fun to go and spend them, as I knew the purchases weren't costing me anything.
Receiving 30 days of free money
If I make a purchase today, I generally receive 30 days or so before I need to make a credit card payment. That means that the money stays in my account for 30 days, and then when I make the payment it's one payment in stead of many.
In essence, I am using the credit cards money for 30 days while I earn interest on the money that's sitting in my bank account.
These are reasons why credit cards are actually useful. Again, credit cards shouldl never be used as an income. If you're using credit cards as an income source and don't have the cash reserve in place to make full payments each month, then you're probably in trouble financially.
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Mortgage Life Insurance in Canada One of the most significant purchases a family makes in the course of its life is the purchase of a home. Many of your monthly expenses are centered around the fact of owning that home: cable, telephone, electricity, water, and gas, not to mention maintenance, take a up a significant part of your monthly income. The bill that in many cases takes the biggest proportion of your income is the mortgage, your monthly house payment. And it is the bill that must get paid above all; the other expenses can be put off or lived without if necessary, but if the mortgage is not paid in a timely manner, there will be no home for the family to live in.
But a family might find itself in the tragic situation where one of the people responsible for making that monthly house payment is incapacitated or even dies, and your family becomes unable to pay the mortgage. In that case, your family might face not only the death of a loved one, but the loss of their home and credit, as well.
Fortunately, there are plans that can help you avoid this unfortunate eventuality. Mortgage life insurance is designed for just such protection. Mortgage life insurance is a low-cost, flexible method to protect one of your family’s most important investments. If you develop a terminal illness, sustain a serious injury, become disabled, your mortgage insurance can offer you several benefits:
- It can pay your outstanding mortgage amount. This is the chief reason that most people buy this type of insurance. If you die or become incapacitated, the balance of your mortgage will be paid off. You may, however, still be responsible for any over due payments that have not been made.
- It can pay up to five years’ worth of accrued interest.
- It can pay any property taxes that you owe when you die so that your heirs are not left struggling with taxes.
- If you are diagnosed with a terminal illness, it can give you an option to pay out early, so that you can be assured before your death that the house is paid off for your family.
Most people sign up for mortgage insurance at the same time they apply for their mortgage. This ensures that your family is protected even before you close on your mortgage, so that if something happens to you, they will still be able to move in to the new home you have planned.
Applying for mortgage insurance
The cost of mortgage insurance is based on how old you are when you apply for the policy and the amount of your mortgage. Your premiums will not increase as you get older, as long as the terms of your mortgage remain the same. They are also conveniently rolled into your mortgage payment, so you are not paying two separate bills each month. You are eligible to apply if you are a resident of Canada, between 18 and 69 years old, and have been approved for a Canadian residential mortgage.
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How are credit card companies treating you? - Economic CrisisI got a call from Kate Rutherford from CBC radio in Sudbury Ontario.
Kate was inquiring about how the credit card companies were dealing with the economic crisis situation. She was concerned about credit card companies increasing interest rates, service charges and even decreasing people's lines of credit.
Credit card companies make their money from interest and service charges. They base their interest rates and service charges on the level of risk that the individual is at.
This means that if your credit score all of a sudden decreases for any reason, they may charge you a higher interest rate.
American Express is charging me higher interest rates, even though I've got excellent credit
As a result of Kate's call, I contacted American Express. I have a Business Gold card with them.. The customer service rep indicated that my interest rate had increased from 14.99 % to 16.99 % even though my credit score hadn't declined. She indicated that this was because of the economy and the write offs that they're incurring.
Check your credit score with Equifax and Transunion.
If you want to understand why you've received a interest rate hike, or why you may receive one in the future..it's best to in vest $20-$30 to purchase your credit reports. This will tell you exactly where you stand with the credit bureaus. And you'll know what the credit bureaus are reporting to your credit card companies (and other lenders)
This is especially the case for workers who have been laid off in this economic down turn.. If you've used up your cash reserves, and are now using credit cards as income, this could adversely affect your credit score, thus driving up your interest rates.
I always tell people... if you're in doubt as to where you stand with the credit card company...it's worth it to take 15 minutes and call them up. After all , they are suppliers of credit, and should be there to give you the service you need.
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General Motors isn't a going concern - Deloitte & ToucheIn the last few days, Deloitte & Touche, a third party consulting firm, gave a report on the viability of General Motors. The consulting firm indicated that they have substantial doubt about General Motors future and their capability to generate a profit in the near future.
I give General Motors all the credit in the world for their fighting spirit, however, what does it take to bankrupt this company?
If they're not making money, then by the definition of free enterprise, they should be left to reorganize and downsize themselves to a point where they can start making money.
Here's what bothers me about their bailout...
We Lived on $60 per week in groceries - family of four (1993)
When I was first starting my business in 1992, our revenue was pretty light as you can imagine... we lived on $60 per week for grocery money. One week we were pretty desparate so I called social services and asked them if they could help out. Social services told me that I would have to sell my house, because that would provide me with cash!!
I needed money then to feed the family. I was furious at that reply. Here I was ... working 7 days a week, trying to feed the family and had genuinely asked for help. I was refused !! At that point, I said, NEVER AGAIN, would I ask for help from the federal government.
The Federal Government is giving Welfare money to GM
The federal government is now giving bailout / welfare money to people who make $50-$60 per hour. That doesn't seem right, in my opinion.
Is this the alternative to having these families on Employment Insurance? I'm not sure..
This situation is completely wrong IMO.. General Motors should be left to fend for itself. That is the painful choice, however it will be better in the long run, in my opinion.
I've been self employed since 1992.. This means that I've earned money the real way.. creativity, hard work and sacrifice. I've made money , and I've lost money. My family has experienced the severe highs and lows of being self employed. However, we've never asked for a dime since those start up days.
We've had to adapt to our situation as it has happened. We've learned to deal with expanding the business and contracting the business. It's been painful and in some cases it's taken years to do. That's the nature of business.
If you have to down size, then you get back in the saddle and innovate. You create enough value that your customers will start to buy from you again. Again.. some times this takes years, however, you need to do what it takes.
End of rant..
Good luck General Motors, your workers, your suppliers etc!
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Canadian Consumer Toxic Debt? What do we have to show for it?I am starting to research monetary policy and the money supply system.. in my travels I came across this Canadian money supply page that talks about how much savings Canadians have along with how much debt Canadian individuals have.
I was alarmed that Canadians have $412 billion in Consumer debt, and $1.3 trillion in debt when you add in mortgages.
I can understand the mortgages part of the equation as this debt is backed by real assets.
The $412 billion I would assume includes car loans, renovations loans, lines of credit and credit cards. I contacted the government of Canada and they couldn't give me an exact breakdown of the consumer debt portion.
What I'm really worried about is, what kind of assets do we have to back these debts? IE... are all of these debts based on highly depreciated assets?
The basis of my comment is the current collapse of the stock market.. the recent economy has been built on debt on all levels... now that the economy is crashing , there is alot of debt that we're dealing with, but it doesn't seem like this debt is backed up by solid assets.
So.... if our $412 billion in consumer debt isn't backed up by real assets, then how does that make our economy look?
It makes the Canadians balance sheet look pretty weak.
I should say that the it appears from the chart that the money supply in Canada (M2++ gross) is $1,735,973,000,000 ($1.8 trillion) so we have cash to back up the debt.
The point of this post is to express concern so that we can become a little more aware of what we're using consumer debt for. If we're buying holiday & travel, restaurants, and electronics which all have zero asset value after the purchase, then we're buying too many empty items with our consumer credit.
The other point I wanted to bring across.. if we're paying an average of 10% on our consumer credit... that's $41.2 billion dollars per year in interest. Is that what you want to be spending your hard earned dollars on?
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AIG Gets $30 billion more? - Let them go bankrupt!My pet project is to talk about General Motors and how the federal government should let them go bankrupt.
AIG Insurance company needs an additional $30 billion bailout after losing $61.7 billion in the fourth quarter.
So... we're debating whether to give General Motors $4 billion but we're easily going to give AIG Insurance $30 billion.
This is completely ridiculous... the problem is... I can understand a little about the car industry... I have no idea about the insurance business.. (I understand life insurance) I don't understand the high level complex financial products that AIG has created.
AIG MADE TONS OF MONEYThese companies who are getting bailout money enjoyed making alot of money during the hay days. They all enjoyed the upswing. Now, with the downswing they're not enjoying themselves.
From my understanding, capitalism is all about peaks and valleys.. You make profit in the good days, and manage carefully during the down times.
Nobody wants to take the lumps of a down market.
This isn't right. And it's going to cause more problems in the future.
As painful as it may be... why not let AIG fail and restructure. Isn't business about Caveat Emptor? If individuals and companies have insurance with AIG... let them buy insurance from other companies...
I know that's not as simple as it sounds, however, caveat emptor...
AIG performed badly and should be treated accordingly. It's customers should realize that they purchased products from a bankrupt company.
CAVEAT EMPTOR - A business term for capitalism
I think consumers are getting pretty sick of government bailouts... myself included.
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I don't mean to be critical... or maybe I do... I just have to scratch my head and wonder sometimes.
This couple makes $84,000 per year combined income and are filing for a personal consumer proposal. What is up with that?!!
HERE'S MY THEORY:
Maybe it's a good thing that this generation of high income earners are declaring bankruptcy and doing consumer proposals.
It will send a strong message to the younger generation who are eagerly watching their parents spend themselves into a whole.
The children will be able to watch while the parents spend the next 7-10 years digging themselves out of their huge credit hole.
Hopefully the message to the children will be, "maybe we DON'T need all of these consumer items, fancy trips, large houses, big cars etc"
Don't get me wrong... I think it's important for people to enjoy the finer things of life... while they are living below their means. It sends a pretty shocking message across when people who make $84,000 are declaring bankruptcy.
It tells me these people don't know how to manage their money, and that they don't have the will power to grin and bear it while they dig themselves out.
According to this article... it seems that Ottawa which is a big government city, is having a high rate of bankruptcies. These are people who have good government jobs making good government money. Traditionally these are the people that creditors would consider the lowest risk. Solid jobs = solid repayment of debt.
It must be that people get so used to the solid money that they aren't focussing on their spending and how their debt load is going to affect them if it gets out of hand. Come on people... get a grip.!!
Just a little rant about rich people who declare bankruptcy.
Throwing in the towel Part II: Unique factors drive Ottawa's bankruptcy rate, experts say
By Jim Donnelly, Ottawa Business Journal Staff
He may be down, he says, but he's certainly not out.
"We just kept mortgaging and mortgaging," says "Rolly", a federal government employee who makes $42,000 per year and declined to use his real name. He's recently filed a personal proposal to avoid bankruptcy.
"I've tried to get all my bills amalgamated, and still haven't been able to make ends meet," he continues, adding that since merging his bills he's found expenses easier to deal with.
"We've always been spending more than we've earned, and credit charge cards are the worst thing in the world."
He says that during the height of their spending he had one credit card, and his wife ? who he says makes an equivalent salary at her job ? had five.
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You know that there must be a credit crisis in Canada when the Canadian Federal Government launches a new tool to help people manage their debt.
It scares me to think of how much debt Canadians carry personally. We have become such a consumer oriented society. The link below is from the industry Canada website.
There can't be enough tools to help people learn more about credit. I always encourage people to learn about their debt and what they've agreed to with their creditors.
It's good to see the Canadian Federal Government helping out in this area as well.
New Debt tool
Government Launches New Tool to Help Consumers Manage Debt
OTTAWA, March 20, 2006 ? The Honourable Maxime Bernier, Minister of Industry, today announced the launch of a new online tool to help consumers deal with debt. Entitled Take Charge of Your Debts, this online tool brings together many sources of information, for the first time, in one place. It offers Canadians some suggestions and options for getting out of debt.
"Canadian consumers who wish to make changes in their financial circumstances can get some practical information with this new tool," said Minister Bernier.
Some warning signs indicating a need for help managing debt are regularly bouncing cheques, being late paying bills or using one credit card to make a minimum payment due on another credit card. Consumers who recognize even a few of the warning signs in their personal situation can begin to take action by consulting a credit counsellor, their financial institution or by committing to planning a budget. These and other options may be explored with the help of the new online tool.
Take Charge of your Debts was developed by the Office of Consumer Affairs, Industry Canada. The Office of Consumer Affairs seeks to promote the interests and protection of Canadian consumers.
READ ABOUT PAYDAY LOANS
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American Express for Canadians
With all of the profits credit card companies make, and especially American Express Canada, it's nice to see that they're allocating some of those profits to fight against child pornography.
As I sit and think about it more and more, American Express Canada and every other credit card company must have a fund and system in place to detect and reject the purchase of other illegal products using their credit cards.
I'm sure the folks who deal with this at American Express must scratch their heads and wonder how people would try to purchase illegal items with their credit cards. Keep in mind, that if people can't purchase and illegal item from a vendor who has an account with american express, the customer can take out cash advances on their card and buy illegal things.
It shows good conscience and good corporate moral standards for American Express credit card Canada to get involved in this fight against child pornography.
A group of financial institutions, internet companies and organisations fighting child pornography have formed a new coalition in hopes of cutting off online payment mechanisms for web sites selling child pornography, the organisations involved announced last week.
The announcement comes just a day after the US attorney General said that 27 people in the US, Canada, Australia and England were arrested for their alleged involvement in an internet chat room used to trade child pornography images, including live streaming video of adults sexually molesting children and infants.
The Financial Coalition Against Child Pornography is made up of 18 companies, including America Online, American Express, Bank of America, Citigroup, Visa International, paypal and Yahoo. The companies will work with organisations around the world, including Child Focus, the European Federation for Missing and Sexually Exploited Children and the International Association of Internet Hotlines.
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I'm looking for people who want to make daily cash flow from the stock market instead of invest in it long term.
The beauty of our system is that we start off with a preliminary presentation about the system. We give you some great tools to review the system before you decide to get involved.
The object of this stock buying and selling system is that you generate money with the system each day. You could make 1%+ on your money each day. Of course, we don't guarantee it, but we give you the tools to GREATLY enhance your success.
The owner and developer of the system says she makes money each and every day using her system.
As with every money making opportunity, this requires research , dedication and hard to work to master the system. This stock investing system is for serious investors who have the time and money to spend to develop a revenue stream from this system.
NOTE FOR THE CAUTIOUS: One thing that really impressed me about this company was that they encourage people to paper trade using their system until you feel confident that you've got control of how their system works. They advise that you paper trade for as long as it takes. This means that you don't put a cent of your money into trading until you know what you're doing!
The certainty about stocks is they the go up and down in value each and every trading day! The whole idea is to use tools to figure out stocks that are likely to go up at a given time and sell them to make a profit.
The lady who developed this software has been successfully using her own system for over six years. With that much experience, she is making even more enhancements to the system which will give her clients even more helpful tools to ensure positive cash flow each day.
Let me know if you're interested.
stock investing system software
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Credit Repair Tip for Canadians
I was talking to a fellow recently who was having a problem with creditors giving him credit. After asking him a few questions I realized that he didn't have really bad credit. It was just that the creditors couldn't verify his address properly. transunion
It turns out that this guy had a job that took him to different cities and thus addresses. The credit bureau equifax couldn't keep up with his current address and thus couldn't completely verify his credit information.
The scenario: This gentleman had moved 3 times in the last five years, but the last time he applied for credit was 5 years ago. Some of the creditors only had previous out dated addresses from him and this was the address that they were reporting to the credit bureau. creditors
I suggested that he get a copy of his Equifax and TransUnion credit report and then contact all of the listed credit and give them his new and current mailing address.
As soon as the credit bureau and all of his creditors had the current address, he was able to get credit.
Creditors need to be able to verify your address in order to give you credit.
This is another reason why it's important to get your credit reports with equifax canada and TransUnion Canada.
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American Express for Canadians
Child Porn has been in the news lately quite a bit in Canada, especially on CBC Radio. People getting convicted based on credit card purchases etc.
In this Christian Science article American Express is joining with other credit providers to help the fight against child porn. That's must be pretty difficult as there is an estimated 200,000 child porn websites that take credit cards.
American Express's credit department must be very busy as it tries to analyze which sites are bonafide and legal, and which aren't. It's nice to see the credit card companies are taking action on this matter.
A siege on the child-porn market
Titans of finance join forces to try to thwart online trafficking in illicit images.
By Ron Scherer | Staff writer of The Christian Science Monitor
NEW YORK ? Some of America's most powerful financial institutions have a new target - and it doesn't involve making money.
For the first time, titans such as American Express, Bank of America, and Citigroup will join forces to try to thwart the use of credit cards and other financial tools to buy child pornography. A group of 18 corporate giants intends to share information, issue cease-and-desist orders to offenders, and try to expand its reach to almost every financial institution that matters. The aim: to snuff out the commercial spread of the smut by 2008.
American Express Air Miles
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This is a test to see if the new posting system is working
CREDIBLE, CONFIDENTIAL AND PROFESSIONAL SERVICE
Express Credit Repair is a professional credit advocacy which helps you get results from the credit bureaus, creditors, collection agencies, government agencies and anyone else who is listed on your credit reports. We practice credit repair in Canada. Our expertise in credit restoration helps to give you control with the credit bureaus that is almost impossible to get on your own.
We are familiar with all of the provinces' legislation regarding the credit reporting agencies. We work with the provincial governments and Federal Government on a daily basis to make sure that the credit bureaus are in full compliance of the credit reporting agency legislation and Federal pipeda legislation regarding your credit reports.
Express Credit Repair is a member of the Better Business Bureau and the Chamber of Commerce.
READ THIS BEFORE EVEN THINKING ABOUT DECLARING BANKRUPTCY
CREDIBLE, CONFIDENTIAL AND PROFESSIONAL SERVICE
Express credit repair is a professional credit advocacy which helps you get results from the credit bureaus, creditors, collection agencies, government agencies and anyone else who is listed on your credit reports. We practice credit repair in Canada. Our expertise in credit restoration helps to give you control with the credit bureaus that is almost impossible to get on your own.
We are familiar with all of the provinces' legislation regarding the credit reporting agencies. We work with the provincial governments and Federal Government on a daily basis to make sure that the credit bureaus are in full compliance of the credit reporting agency legislation and Federal PIPEDA legislation regarding your credit reports.
Express credit Repair is a member of the Better Business Bureau and the Chamber of Commerce.
READ THIS BEFORE EVEN THINKING ABOUT DECLARING BANKRUPTCY
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This just goes to show that the payday loan industry is still in the development stage and that probably after a few class action law suits it will become better defined.
One thing I wasn't familiar with was that Money Mart has 350 locations in Canada and is owned by US DOLLAR FINANCIAL CORP
I got this from TheToronto Star
Suit against payday lender gets a boost
Top court dismisses firm's bid to derail
`Bit of heat on Money Mart,' lawyer says
Mar. 6, 2006. 01:00 AM
JIM RANKIN
It was not a good week for National Money Mart, a company that sells itself as a convenient means for real people to get fast cash and has employed the Trailer Park Boys as pitchmen.
First, the chain of 350 Canadian cheque-cashing and payday lending outlets received its second "Loan Shark of the Year" award in a row from a grassroots citizen organization known for its campaigns against predatory lending here and south of the border.
Then, the Supreme Court of Canada dismissed a bid by the company, owned by U.S. parent company Dollar Financial Corp., to derail a proposed class-action suit launched by Windsor pensioner Margaret Smith,
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This is not really the forum to talk about the Newfoundland seal hunt but I feel the need to get my 2? worth in.
Paul McCartney and his wife (what's her name) decided to work with the American Humane Society and make a statement about the Seal Hunt in Newfoundland and how inhumane it is.
Paul McCartney and mouthy wife gets on CNN with Larry King. Of course Larry King will talk to Paul McCartney because of his superstar status. It's good for ratings.
Danny Williams did a superb job of defending Newfoundland. Danny Williams also pointed out the fact that 13,000 U.S. residents landed in Newfoundland on September 11, 2001 and were well taken care of by the Newfoundland people.
Anyway, back to seal hunting.
A british billionaire resident who is little informed about seal hunting and the Newfoundland economy teams up with the American Humane Society to talk about a Canadian industry on the powerful American CNN Larry King show.
Why doesn't the Canadian Humane Society complain about this problem? I venture to guess that the American Humane society is a little more public relations savvy and hungry?!!??
This reminds me of a certain nation invading Iraq.
Here's my opinion...
Dear billionaire Paul McCartney and wife (what's her name),
Live a day in the shoes of the Newfoundlanders. Get to know their culture, their people, and their economy.
I don't appreciate people from other countries exploiting Canadians for their own purposes. The people that gain the most from Paul McCartney getting on CNN are: Paul McCartney, The American Humane Society, and all other animal activisits.
I truly hope that this international attention will raise the demand for these seal furs and seal biproducts and help out the Newfoundlanders even more.
Seal Hunt News Item
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American Express for Canadians
Ralph Klein's government is flying high these days with all of the oil revenue they're bringing in.
The Canada Health Act is based on the principles of comprehensiveness, universality, accessibility, portability and public administration ? principles Canadians believe in, and principles that Alberta?s proposal puts in jeopardy.
Premier Klein?s plan would introduce American Express-style surgeries, where if you have a credit card and can afford it, you move to the front of the line. As well, his proposals could bleed doctors and resources from the public system by allowing doctors to practice in both the public and private system.
If Premier Klein?s plans are put into practice, Mr. Harper will have the dubious distinction of being the prime minister to preside over the beginning of the end of universal health care for Canadians.
That's another thing that the Alberta Government can promote is that you'll get air miles if you get a knee surgery on your American Express!!
It's interesting that my mother, who lives in Alberta, mentioned that traditionally she has been against people being able to pay to get into the front of the line for health care. Just recently she hurt her back and was scheduled to have tests done in 9 months.
My mother quickly changed her mind when she was able to spend a little bit of cash and move her appointment up to only 3 weeks away. Why should she stay in pain for an extra 8 months when she didn't have to.
So... there you go... The new benefit to having an American Express card... Better health care sooner... according to Ralph Klein, Premier of Alberta. The new health care system.
American Express Air Miles
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2012-11-13 23:08:19
Cbv Collection Services Problems
same deal,,these criminals sent a bill saying i owe 18,000$..hilarious,,they call me 5x per day..i am taking rogers to court..small claimes..why not y
Comment By:karen cliff
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2012-11-13 13:18:44
Retail Theft Could Get You Sued
I keep receiving emails and phone calls from people who think they can simply ignore the letters from these Civil Recovery lawyers.
Don't.
They
Comment By:Gerry Laarakker
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2012-10-18 08:23:07
Retail Theft Could Get You Sued
Bank statements can be demanded or balloon a day even fail to repay the debts incurred from the varied lenders. The offered amount in such cash untill
Comment By:Spadiatrere
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2012-10-09 12:42:44
Credit Repair Canada 3 Things You Should Know
to , take up a new job. Also, reflect on investing in generating a payday advance loan while using classmates and more, typically the segments. The in
Comment By:WarbabsjamY
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2012-09-30 20:03:01
Cbv Collection Services Problems
I had a telus pay as you go phone from 2003 2008 and now cbv collectons is claiming that i owe over 1500 dollars, the last time they called i called
Comment By:marcus
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2012-09-25 10:19:31
Cbv Collection Services Problems
Had a bogus 'roaming charge' bill from Telus a few years back. Got mad at them and switched providers. It went to CBV. Yes, they are persistent and
Comment By:Scammed
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2012-09-23 07:37:50
First Canadian Finance Scam Site
While these aforementioned dangers are a cause for legitimate concern, there are other dangers that derive from perceptions that often have no basis i
Comment By:effomicok
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2012-09-16 16:42:15
Retail Theft Could Get You Sued
I am sick of all you so called legal counsel, wanting money from me , there was a reason i was stealing the items in the first place, i have no money!
Comment By:a shopplifter
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2012-09-13 11:18:04
Car Repossessed Trouble With High Risk Car Loans
Our car loan was with wellsfargo to begin with then transfered to carfinco,. Have never had a problem with them yet and have less than 2 years left on
Comment By:Darlene Fougere
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2012-09-02 18:27:17
15 Blog Post Articles That Talk About Equifax
obviously like www.canadianmoneyadvisor.ca however you need to test the spelling on several of your posts. A number of them are rife with spelling p
Comment By:promotion site
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2012-08-31 11:32:19
Retail Theft Could Get You Sued
so i went in zellers and i baught bus tickets. then walked around playing with toys, and i was with a friend, we're both adults who like stupid toys.
Comment By:Aj.
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