I DOUBT we’ll ever pay it to zero, but we must trim our deficit. I doubt paying it to zero is even a worthy goal in our increasingly interdependent planetary system of government. Nonetheless, we must improve our debt-to-available-credit ratio to keep from going the way of Greece or Portugal. So how do we do it? Continue reading
Archives
OBAMA USES S&P DOWNGRADE TO PUSH BUDGET
HE HASN’T yet, but President Obama could use Standard & Poor’s (S&P) recent negative revision of its US debt outlook to force action on Capitol Hill.
On 18 April 2011, S&P gave its vote of no confidence on the US budget debate, changing its opinion of America’s ability to pay off its debts in the future. Its “AAA” credit rating has gone from “stable” to “negative”, implying that it could drop if Congress doesn’t agree a fiscal plan soon. Continue reading
FINLAND SETS PRECEDENT FOR GERMANY
FINLAND went to the polls this weekend to tell the European Union they’re not happy about Eurozone bailouts.
This noble land of Thor, reindeer and saunas* doesn’t make the financial news very often. On the one hand, its stable economy keeps it out of articles focusing on troubled countries like Greece and Portugal. On the other hand, its modest wealth keeps it out of articles focusing on richer countries like France, Germany and the United Kingdom. Continue reading
Ditch Social Security and Holiday Instead
When I was a kid we used to tell each other a comedy-horror story about a man pursued by a monkey. Continue reading
Smoke (Signals) and Mirrors: Western Sky Financial
The Solvency Shark saw a commercial recently for a loan company called “Western Sky Financial”. I perked up when an American Indian claimed he could put $2,500 in my bank account overnight. When he argued that his loans weren’t cheap but better than payday lenders, I had to investigate. Continue reading
Obama’s Payroll Tax Cuts and You
7 DEC 2010 — BBC NEWS reported yesterday that President Obama has agreed a deal with the Republican Party to extend Bush era tax cuts for all Americans regardless of income level. Of interest in today’s column is the proposed 2% cut in the payroll tax for 2011. Continue reading
Don’t Sleigh Your Wallet This Christmas
It’s been two years since our economy went “round the bend”. The economic indicators show we’re technically out of recession and even growing… if at a snail’s pace. Still, the Solvency Shark can’t help but feel like he’s still stuck in a recession. My wife and I are very conscious of our funds and discuss them constantly. We save money by spending as little as possible and taking advantage of great deals or coupons when we do. Continue reading
In Debt? Think Like Germany
THE HISTORY
NPR reported two weeks ago that Germany has paid off the last of its World War I debts. Continue reading
Solvency Shark Angry: 240-374-5400
If 240-374-5400 calls, let it go to voice mail. Then delete it without a second thought. MY STORY: I was contacted by this number about three weeks ago and the person on the other end of the line left a message best described as hurried, garbled, and puzzling: Continue reading
Debt Arbitration: Take Your Disputes to a Neutral Third Party
You and your creditor are having a debt-related argument that cannot be settled by your combined efforts alone. You both decide to take your dispute to a neutral third party for a fair resolution. You then agree that the arbiter’s decision is legally binding for the both of you. This is debt arbitration. Continue reading
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