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DISCUSSIONS (28 posts)
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The New York Times has just posted a series of articles titled The Debt Trap which takes a look at the surge in consumer debt and the lenders who made it possible.
Given a Shovel, Digging Deeper...
[Head on over to Boston Gal's Open Walle…
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This has to be the most depressing piece on the true underbelly of the subprime situation in America.
Note how lenders have shifted to fee revenue to optimise the high personal debt situation.
Given a Shovel, Digging Deeper Into Debt - NYTi…
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I'd bet you are tired of hearing that this or that is a "must read." But if you are interested in American consumer debt, you really will want to read this article in today's New York Times. It's the beginning...
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TOP STORIESBoom and bust: It's the American way - LA TimesBorrowers and Bankers: A Great Divide - NY TimesHow Long Can Gold Shine? - Washington PostIn this economy, failure is an option - LA TimesWeb pioneer Gross revitalized by green energy …
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The New York Times published a very interesting article today on how more Americans than ever before are living at the brink of disaster. Many people (possibly even most people) are one job loss/major illness/divorce/hurricane/what have you …
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New York Times has an article about Americans getting into debt.
What is smelly is this:
But behind the big increase in consumer debt is a major shift in the way lenders approach their business. In earlier years, actually being repaid by borr…
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(click image for larger view)I've been meaning to write more about debt for some time now. The New York Times just had a sad article on the impact taking on too much debt has had on a lot of Americans. There are a few observations I'd make:…
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"The New York Times" features an in-depth article about debt in America.
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I was browsing the New York Times this morning and found an interesting article that discussed the trend for Americans to dig themselves even deeper into debt. Since I deal...
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Gretchen Morgensen of the New York Times is doing a series of articles on people drowning in debt called Given a Shovel, Americans Dig Deeper Into Debt. Everyone should read this series. I don't care if you are a kid in elementary school o…
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This weekend I was driving down the road when I noticed a reader board outside a small town bank. The message on the board said, "Increase your summer fun with a home equity loan". Really? In 2008? The sad thing about this is that I’m sur…
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…is the phenomenal New York Times article written about how a woman named Diane McLeod got into thousands of dollars of debt. It’s remarkable because it includes a rich set of multimedia features that let you understand how many of us get int…
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Last week's wild ride in the financial markets and the political world gave us much to talk about. So as we stumble out of the haze of a Fannie & Freddie-dominated week, let's review what happened and see what's in store for the week ahead.1.…
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Today I joined (by phone) a working group meeting of the Asset Development Commission, gathering input for ways to strengthen public policy that would encourage asset-building.
There was much interest in a New York Times article in yesterday’…
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On Sunday, The New York Times published a series of articles on The Debt Trap, exploring the surge in consumer debt and the lenders who made it possible.
The main article profiles a Philadelphia woman who made some bad choices, bought into th…
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“When the going gets tough, the tough go shopping.”
Quoted in “Given a Shovel, Americans Dig Deeper Into Debt“, article in New York Times, July 20, 2008.
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The New York Times recently compiled a series of articles and video clips about people in debt called ‘The Debt Trap’. These stories give a harrowing account of the debt turmoil that many people are facing today.
It’s not just another set of…
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The New York Times posted an article called Given a Shovel, Americans Dig Deeper Into Debt recently. It describes the story of how one woman got into debt, along with some of the changes to the lending industry over the years.
This change in …
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The New York Times has an article that tells the unfortunate tale of Diane McLeod and her love affair with debt. She started out "debt free" when she got married, but after a divorce she'd managed to accrue $25,000 in credit card debt. Despit…
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Here's bad news for people shopping for a house or looking to refinance an adjustable-rate or interest-only mortgage: The average mortgage rate just reached a five-year high. The rate on Tuesday for a 30-year fixed-rate mortgage was 6.71%. It…
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Photo Credit: babasteve
With increasing debt a more common issue and the economy the way it is; it seems that many people are trying to be wise with their money. Some tactics include brown bagging your lunch, starting or rebuilding their emer…
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Have some money? How do you feel about it? Where did it come from? Do you deserve it?As always, Claire covers the territory beautifully.My net worth is so high these days that even this month's large drop due to stock market drama doesn't rea…
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According to the Federal Reserve, report in a NYTimes article, Americans have nearly a trillion dollars of revolving debt (which includes credit card debt). That’s a lot of debt… oh yeah, total consumer debt is $2.57 trillion. Amazing right?
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Lately, I've been thinking a lot about Karma (in simple terms ... the law of cause & effect).On July 20th, there was an article printed in the New York Times Business section, called The Debt Trap.It's about a 47 year old woman named Diane Mc…
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An article in The New York Times about more Americans than ever living on the verge of financial ruin got "Frugal Zeitgeist" thinking about her own contingency planning for disasters. If a terrorist attack, a catastrophic illness or job loss …
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The New York Times has a good series of stories and graphics on the increasing debt load carried by Americans that is well worth a look.The animated graphic below showing debt levels for various age groups is from an interactive graphic (no …
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... was prompted by the following articles: "Buying the Wrong House" (ScienceBlogs, July 17, 08) "Given a Shovel, Americans Dig Deeper into Debt" (NYT, July 20, 08) "Housing Crisis Hits Exurbs Hard" (CSM, July 25, 08) "High Heating Oil Prices...
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So it turns out I have a touch of carpal tunnel (which is apparently reversible) and a combination of my own and the doctor's solutions, I am on the mend. (Though it could be the 800 mg of pain reliever...
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