Managing Credit Card Debt

January 22, 2012

Managing Credit Card Debt.

So many of us have accumulated debt which we is difficult to pay off. This is what has happened in this economic crisis that we have endured for the last four years. Debt has been a problem throughout the history of mankind. Perhaps the most unfortunate country has been Greece who at one time in their history, took 1000 years to recover from its debt problems.

Read more: http://bizcovering.com/business/managing-credit-card-debt/#ixzz1kDFsM78P


The Financial Policies of Greece and the United States

November 9, 2011


Greece is a country which has had its share of misfortunes due to the inability to manage money properly.

Greece’s problems did not begin in its recent history, but rather over a number of years, beginning with its ancient history. Greece has always been dependent on income from its agricultural activities, being well-known for its olive and olive oil production. Unfortunately, it has been very reluctant to produce new and improved tools for growing and cultivating the crops. For example, in the 1820’s, Greece was still using farming tools which dated back two thousand years!

When businesses fail to upgrade their industrial tools and products, they lag behind other countries and businesses which are producing and marketing the same products with new and improved tools. This results in more earnings for the countries which are more up-to-date. We have seen this happen in the United States with Borders Bookstore, which refused to market e-books and Polaroid Corporation, which refused to produce a digital camera.

Despite the lack of progress in upgrading tools, Greece has always paid better than average wages for the work which they did. If a country is not producing because of its failure to upgrade its manufacturing tools, the country will lose money because other countries are more efficient in producing goods. Instead of using money to upgrade tools and products, Greece gave workers a better than average salary, which caused financial problems for the country.

Unfortunately, Greece’s problems stem from an inability to properly manage its revenue. Unlike the United States, the bankers are not knowledgeable about managing money. The early settlers of the United States learned how to manage money according to Biblical principles, enabling it to prosper and the nation’s money handlers are still following these principles which are based on the Bible. Accordingly, one per cent of the population in the United States has control of fifty-four percent of the wealth, which helps the United States to remain prosperous.

The situation in the United States is not an ideal situation, as more of the population should have more control of the wealth. There is clearly a need for education on how to manage money properly. Because of the many people in the United States who do not manage their money properly, they become victims of unfair fees and charges on their banking accounts. The poor end up paying exorbitant fees while the rich do not pay banking fees.

During the economic crisis of 2008 in the United States, the banks, insurance companies, and automobile industry had to request a bailout to alleviate their financial woes, while Greece had to request assistance from the European Union. There is clearly a difference between the abilities of the two countries to manage their finances.

In conclusion, countries must adopt sound financial principles for managing their money in order to prevent an economic crisis which could affect other countries which depend on their resources.


Recovery for The United States

March 11, 2011

Recovery for The United States.

Some economists believe we have recovered from the recession.  Some believe there are more problems brewing.  There are three areas of concern which this article covers. Knowing the problem areas will help you in planning your business.


How The Economic Crisis Has Changed Families

March 11, 2011

How The Economic Crisis Has Changed Families.

The economic crisis has hit families in the U.S. and Mexico hard, changing their lifestyles and threatening the family unit. There are some similarities and some differences between the two places.


Hints of Economic Recovery

November 28, 2010

For the first time since the Economic Crisis of 2008 hit the Americans, there are some signs that the economy is recovering. Four states have reported an increase in jobs during the month of October.

California, New York, Florida, and Texas have reported an increase of 134,300 jobs combined while there has been no change in the unemployment rate. There is hope in that the income taxes derived from hiring people to fill the jobs will help the budget deficits of each of these states. There is also some speculation that younger people may be finding jobs or people who are unemployed are now regaining confidence in looking for jobs.

whatever the case, it is refreshing and encouraging that there are new jobs available.


More Financial Woes – GMAC and Non- profits

December 31, 2009

The economic crisis has caused a myriad of problems for consumers and corporations, as well. Because consumers have cut back on their donations to government organizations, the non-profits have received twenty percent less donations this year.

As we watch the number of homeless people increase and jobs decrease, one would wonder how the U.S. government is going to handle the projected increase in homeless people in the next two years. Homelessness is a worldwide problem as there are about just as many homeless people in te United States as there are orphans in Kenya. However, Kenya has a smaller population, approximately 37,000,000 as opposed to over 286,000,000 in the United States.

Many believe that the situation in our own country demands attention. People are sleeping in cars, under bridges or in homeless shelters as many people are losing their homes because of an inability to pay mortgages and car loans which increased or because homeowners lost jobs.

In the midst of all of this, the U.S. government has agreed to give more aid to GMAC, the largest provider of loans to Chrysler and General Motors. Recall, CIT Bank, the largest provider of loans to retailers, just filed for Chapter 11 Bankruptcy a few months ago after having received money from its shareholders to restructure their business.

This may be justified to help save jobs which may be lost if GMAC goes out of business. Will history repeat itself in the wake of the CIT Bank woes? As we begin a new year, we may not be out of the recession if GMAC goes bankrupt. It had to turn to the government because of its inability to seek funding from private investors.

Because of the Bernard Madoff scam, many donors have decided to give locally instead of on a federal level. As a result, many of the non-profits have experienced a decline in the amount of donations. This resulted in a cutback in services to the underserved populations.

The economic crisis has caused a complex set of problems to the United States. It was great to see that people resumed their spending for the holidays and hopefully this will increase as we enter a new year. If you enjoy the content on this blog, subscribe at the top of the page to keep up on the new posts.


Goldman Sachs to Help Small Businesses

December 1, 2009

Just when we thought small businesses were going to experience harder times than major retailers, Goldman Sachs comes to the rescue with a plan to educate and finance small businesses. Their impressive plan to funnel $500 million dollars to provide management education, mentoring, and access to capital to small businesses is the largest of its kind in history. Warren Buffet, who bailed out Goldman Sachs early in this economic crisis, will assist Goldman Sachs in providing theses resources to small businesses.

Major retailers have experienced a loss of funding due to CIT Bank having to eliminate their factoring loan program. Factoring loans were very popular around holiday time for financing Christmas inventory. Retailers now have to finance their own inventory.

Critics say that Goldman Sachs is using this opportunity to improve its image and bad reputation as a result of receiving bailout money and improving its financial position. It would help small businesses to know how to research grants and loans if they would like to take advantage of this opportunity to grow their businesses.

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