I think everyone would win. We would settle the portion of our debt owed to China, China would get more land, and the liberals in California (especially Hollywood) would finally live in a Communist totalitarian country. Of course, anyone who doesn’t want to live in such a place or who doesn’t want to eat noodles everyday or who can drive properly would be given a month’s notice to move.

What do you think?
Why wouldn’t China want California? California has the eighth largest economy in the world.
Why wouldn’t China want California? California has the eighth largest economy in the world.

Technorati Tags: california california, china china, economy, hollywood, liberals, noodles, totalitarian country

I work for a debt settlement company, and I’m very curious as to the impact of this to our nations economy. Do you think we are making things worst by negotiating debts? Do you see this industry going down anytime soon?
What are the effects of debt settlement to our nations economy?

Technorati Tags: Debt Settlement, debts, economy, settlement company

I am considering chapter 7 bankruptcy. I am 5 months behind on payments and been getting threatening calls from the bank, I only have a year and a half let on my note (started out as a 6 year contract). I have unpaid medical bills which is only about 00 along with a early termination fee from sprint and tmobile and I owe to GE money bank. Back last march I ended up homeless and worked any job I could but still wasnt able to get on my feet. So for those of you with comments like "poor money management" keep your comments to yourself. My bills were always paid on time until our economy went to shit. Now that I mentioned that I will get to my question. Is there a way to get around this to not file bankruptcy so my car wont get repossessed (something quick before they take further action) and all my debt paid? I don’t have much money to file bankruptcy. Is there a way to get help so I can pay it out?

Technorati Tags: 5 months, chapter 7 bankruptcy, economy, ge money bank, job, much money, poor money management, sprint, termination fee, tmobile, unpaid medical bills

2/24/2010 the economy is as worse as it was when the economy went down/meltdown. Nothing has changed but thousands of people are still being laid off work each months and thousands of jobs/positions are begining cut/terminated. There are no job new jobs created or positions a reason people are still unemployed. The stimulus money only helped business out of bankruptcy which had become bankrupt because they were mismanaged/corrupt. The leftoiver money from the stimulus were and are given as promotions, wage increase to managers, CEO’s though they did nothing to prevent the company from going bankrupt or help it out of bankruptcy but only the stimilus money did and some people find still the audacity to praise these people though have done nothing. Most data reportng that the govt receives from business/companies are covered up/falsified so False record of money spending and company info occurs,. Stastics are falsified in money spending, hiring practices, employee wages, promotions, embezzelment. As it was when the economy went down, there are only a few jobs available in the job market or the same ones that have existed but for some reason companies have never filled those positions or they just don’t want to fill those postions since mabye they want to make the govt. believe they have new positions available or that they have created jobs. There a thousands of people available who applied for those positons who suprass the requirements for those positions by the way. With companies/jobs they have ways of falsfiying reports at the expense of the community.and half of the info they give to the govt is covered up.Now some jobs have popped up sometimes here and there but might have temporitly come up to fool the govt into believing jobs were created by businesses/companies who received the stimulus money but make no mistake the leftover money are either given as promotions or taken by corrupt CEO’s, manangers, headchiefs, presidents as you may recall the economy went down because of such people and what makes you believe they have changed since most weren’t penalized. In business its take as much as you can take. So in short there are no jobs that have been created with the stimulus money at all though it was the responsiblitiy of those businesses who brought down the economy and later received the stimulus money. Thousands of people have been hired as spammers for websites or businesses which isn’t a job but are recorded as a job in govt reporting. From personnel experience when a job now in the present is offered or available there a thousands waiting in line for it as thousands of people are unemployed. If you don’t believe go to one of these job interviews. I don’t care what you’re parent./relative working in wallstreet or some economical reporting agency says as most stastitics and reporting are incorrect, onesided and inaccurate as most business stasticsis is covered up and falsified. Its the reason the economy went down and should indicate that people aren’t there to look out for the community but themselves to reap millions or dollars or even billions for themselves at the expense of others. Congress isn’t concerned as long as they get money from those business into there pockets. To the disagreeing comments below its from people who haven’t been laidoff yet. They or their parents probably beneifit from these businessess/congress or are related to those people in businesses who received the stimulus money so they don’t care but oppose just to oppose because they have nothing good to do. Most of these people who disagree,commenting below don’t know whats going on in the world but live in there own isolated world.5/24/10. What makes the matter worse is the govt is saying that more jobs are availiable and employment is up so real problems are ignored. The jobs that used before the economy meltdown/downfall to exist seems won’t come back again.
Here is a little something
Don’t think political parties businessmen are out there to help out people. Most humans are greedy, ambitious carless. Only a few humble modest people exist. Whereas you might be okay with a million some people want to make billions or a much as possible at the expense of others. People don’t get into politics to help out others but help out themselves and relatives.

When i say there are no jobs i mean no jobs and yes i’m excluding those few jobs that have popped out sometimes from those stimulus helped companies that have created those few jobst to let the govt. believe they are creating jobs or those few jobs that some companies have barely been able to make available which are rarely available but pop up sometimes when its available.

I don’t care if you disagree but i know you’re incorrect and wrong and know nothing about the economy.5/24/2010.

Technorati Tags: audacity, bankruptcy, begining, business companies, ceo, economy, employee wages, hiring practices, job, leftover money, mabye, mistake, new jobs, positons, presidents, promotions, reason companies, stimulus

Choice A). Very little because Obama and the country is going bankrupt so I can’t stand where America is right now.

Choice B). Very little because George W. Bush ruined this country with 2 baseless wars and ruined a perfectly good economy under Clinton leading us to this mess.

Choice C). Very little, can we really say this is a democratic and free country when both political parties are controlled by elites and besides that, we have a dark past of racism, segregation, horrible treatment of the American Indians, we also have no pride, selling all our projects to China or 10 cents an hour.

Choice D). I pledge allegiance to the flag of the United States of America; and to the Republic for which it stands one nation, (under God), indivisible, with liberty and justice for all.
Unconditionally, I choose answer D)!

And we need to unite on whatever ground combines us, and it’s putting the finger pointing, even rightly if not wrongly, aside, because what other nation will defend and enrich the USA more than the people of America? This is our country.

Technorati Tags: american indians, china, choice c, economy, elites, flag of the united states of america, george w bush, horrible treatment, i pledge allegiance, i pledge allegiance to the flag, liberty and justice, obama, one nation under god, pledge allegiance to the flag, political parties, pride, racism, segregation, states of america, united states of america

SO my wife and I purchased our first home in 2006, and shortly after we had our daughter. Due to a lot of time off from work due to complications in my wife’s pregnancy, and me losing my job we fell behind on the mortgage. We struggled with paying what we could until the economy got really bad in 2008 and we couldn’t afford to even pay the morgage at all. Then in June of 2008 we lost the house to forclosure… Now my credit score is in the low 500’s and I can’t get approved for ANYTHING. I know from researching that both foreclosure and bankruptcy stay on your credit for 7 years, but which is better to deal with??

Technorati Tags: bankruptcy, credit score, economy, foreclosure, job, morgage, mortgage, pregnancy

Like many people in LAUSD are getting laid off, teachers, counselors, librarians and so on. Lets say they get off, they don’t have a job so they can’t pay their mortgage, or pay the loans to the bank, therefore lose their house…So many people won’t be able to repay their bank loans then the banks could possibly go bankrupt? Whats the process of a bank going bankrupt simplified? Basically, what are negative effects of the LAUSD layoffs on the economy?

Technorati Tags: bank loans, banks, counselors, economy, job, lausd, layoffs, librarians, mortgage

Can someone file for bankruptcy if they still own a home with their ex wife? Their home is for sale but not selling due to the bad economy.

Technorati Tags: bankruptcy, economy

think local government can bail the state out? is it time for california to fact fact of insolvency? bankruptcy? even if it is!!!! the 8th largest economy on earth? i think califorina has most inept group of legeslatrers and governor ever! WORSE THA NEW YORK

Technorati Tags: earth, economy, inept group, insolvency bankruptcy, local government

Please please please someone help!! I have had a really rocky time with undergrad (in and out) and have yet to finish. I owe over 100k in private loans because of my personal obstacles. Now it looks like I have my act together, and I am finally on the road to finishing my degree, but I am on my last year of in school deferment for my JP Morgan/Chase private loan. Right after getting my degree, I’ll be on my way to medical school. I already work full time and barely can pay the monthly minimums on 3 loans already in repayment, and after this year, my other 4 are up for repayment as well. I can’t consolidate because they are private and our economy sucks so much that no company is willing to take on private loan consolidation of 100k total.

IS THERE ANY OPTION to extending in school deferment? I have read from some places that you have up to 60 months, which is just 5 years. What about continuing on to grad/medical school?? Is there a way to extend in school deferment?

Lastly – I know you can cancel/forgiveness on federal loans….is there such a thing for private loans??

I HATE PRIVATE LOANS! Please help – I have no other solutions…I’m financially on my own and do not have any support from anyone. I made a bad decision, and all I want to do is become a great doctor. This is looking impossible with this debt. Once my 7 loans all come into repayment, I will be unable to pay monthly minimums. Even if I do forebearance, I will still be unable to pay the lowered monthly fee on 7 of my loans, considering I will be in medical school. Please help!!!

Technorati Tags: 100k, bad decision, economy, federal loans, forgiveness, full time, jp morgan, jp morgan chase, medical school, personal obstacles, private loan consolidation, private loans, rocky time, undergrad

It’s affecting our economy badly. They were smaller banks, but still they were banks and they had gone bankrupt. We have a withdrawal of the troops in 19 months. Which means we have 19 more months of Military spending( A big source of our money goes on military spending during war time and occupying a nation during peace team as well). Consumers need to spend money but truthfully, it’s the spending that got the country in the bad spot as it is already. What do you think of our economy right now and how long will it take America to be strong economically?

Technorati Tags: 19 months, banks, consumers, economy, military spending, money, peace team, war time

My wife went to law school, and took out a ton of debt. some public (perhaps K), some private (about K — which is the reason for the suit). Well, she became unemployed in March 2009. Stupid move. We wanted to relocate to a better economy. Well, we came back to former city in late 2009 and have been shacking up w/ her folks ever since. We’ve had our first child. I am in the middle of trying to start a business and literally just paying for the business right now. She’s hoping to get back to full time work here pretty quickly. She’s got a couple of possibilities on the table. Well, we’re in TN and her law school was in Calif. A law office in Nashville is operating as a collection agent for this private debt. The original loan company wouldn’t hardly work with my wife through the unemployment, and for the past two years, the only employment she’s had is seasonal tax assistance work. Less than K per year. Our annual income is ridiculously low.

This lawyer has filed suit against my wife and now we don’t know what the hell to do… (IF SOME OF YOU THINK THAT JUST BECAUSE MY WIFE IS A LAWYER SHE SHOULD BE ABLE TO HANDLE THIS… , PLEASE TAKE NOTE, MY WIFE HAS NO EXPERIENCE IN BANKRUPTCY AND DEBT COLLECTION SUITS… SO IT’S NO DIFFERENT THAN A FAMILY PRACTICE PHYSICIAN PERFORMING A BRAIN SURGERY OR HEART TRANSPLANT. THERE’S NO CONNECTION THERE.).

She’s being sued, and it’s not like we’re sitting on any cash. What little cash she has (less than K, she’s trying to get back in good standing with the bar association since she’s been absent for a couple years… and now… this bullcrap hits. I didn’t make the economy go south, and neither did any of you folks… so be kind in your response. I don’t need a lesson on ethics… the world literally fell out from beneath a lot of people and if you’re one of the lucky folks not to get situationally screwed, consider yourself fortunate and try not to be judgmental. We didn’t plan for this to happen. And we feel awful about it.

My question I guess is, for any of you lawyers that know bankruptcy… I’m well aware that student debt cannot be discharged by standard bankruptcy proceedings, although there is possible statutory law that was introduced in April 2010 (don’t know if it passed) which can, in certain circumstances – as I understand it – make it easier to discharge private student debt, but I’m uncertain how to go about finding out what part of that legislation might apply to my wife.

Anyway, what is the likely outcome of this? Would a collection attorney really put up money to sue us for essentially nothing? You know the old adage "You can’t squeeze blood out of a turnip." ?? Or do they just want to solicit personal information from us so that they can verify that my wife hasn’t actually been intentionally stiffing anyone… she’s just been legitimately underemployed and unemployed?

Thanks for the help.

Technorati Tags: assistance work, bankruptcy, brain surgery, debt collection, economy, ethics, family practice physician, full time work, heart transplant, law school, lawyer, loan company, lucky folks, nashville, possibilities, private debt, stupid move, suits, tax assistance, unemployment

i have to do a report and i couldn’t really find much on the current economic issues so i was just wondering if anybody read any articles and could pass them on to me about why the economy is where it’s at and what the effects are

Technorati Tags: economic issues, economy

I had a couple stores and they went bad with this economy I kept using my cards to be able to keep them open. Now I have no stores and am 65,000 in debt. I got a job now making like 0 a week. If I try to pay them off I think it will take me over hundred years with the money I am making. So is bankruptcy the only thing lefts for me to do?

I dont want it on my record. But It will also be there if I am trying to pay it off forever. What should I do?

Technorati Tags: bankruptcy, cards, economy, hundred years, job, lefts, money

Will the tea party dig in and refuse to allow the debt ceiling to be raised? Do they even understand what this means? If the debt ceiling is not raised, and the U.S. goes into default, the economy will crash and the dollar will become virtually worthless overnight. Is the Right so blindly ideological that they will insist on this outcome and screw us all?
I don’t disagree that the debt ceiling is a joke or that the debt is out of control, but if Republicans think that this is the best way to stop the spending, they are delusional.

Technorati Tags: debt ceiling, economy, joke, republicans, tea party, what this means

All these Republicans are screaming about how they want to take the country back, whatever that means, but they sure weren’t saying this when Bush, arguably America’s greatest failure, was in office and screwing everything up.

Hop on my magical carpet and let’s review the Bush years:

–complete collapse of the economy
–banks going bankrupt, insurance companies going bankrupt, car companies going bankrupt
–unemployment spiraling out of control
–beginning of huge budget deficits
–started wars with the wrong countries
–torturing our enemies and denying them basic rights
–tried to appoint his secretary to the Supreme Court
–could barely speak the English language
–failed Iraqi War policy costs us nearly a trillion dollars and thousands of lives
–passed huge tax cuts but then ran up huge deficits (how exactly does this make him conservative?)

It’s almost painful to think back to those days. It really does hurt to remember that an incompetent and completely clueless person like George W. Bush once occupied the White House.

So, again, where were all these "Take Back America" people when Bush was turing into dust everything he touched?

Technorati Tags: banks, budget deficits, car companies, collapse, economy, enemies, english language, failure, george w bush, insurance, insurance companies, iraqi war, magical carpet, republicans, supreme court, tax cuts, trillion, unemployment, war policy, white house

Can someone explain to me exactally what bankruptcy is? And what the implications of going bankrupt are? And, how does a country go bankrupt? what would be the implications of greece going bankrupt?

And, if someone could suggest some reading for me to learn about economy from the ground up that would be excellent as well.
I should say reading for macro economics.

Technorati Tags: bankruptcy, economy, greece, macro economics

How bad does it have to get before the democrats criticize this man?
Geeze! America is much worse off now since this Administration decided to spend more TRILLIONS we don’t have? The economy still SUCKS just as bad , if not WORSE since Obama took over. All you have to do is drive thru any city and see all the HUGE Corp Building up for Sale or Lease, read the Local Newspapers looking at HELP WANTED ADS- with like 3 jobs … What the?
We have lost Thousands in value of our HOMES! Have to pay more property TAXES! More for Gas- food, energy and Obama still has 47% APPROVAL? WHAT THE?

Technorati Tags: democrats, economy, food energy, gas food, help wanted ads, jobs, local newspapers, property taxes, trillions

I mean obviously it does but I was thinking about how medical bills is one of the top reasons for bankruptcy in America, and wouldn’t adding this universal health care bill prevent and avoid individual bankruptcy thus cause the economy to improve a bit?

Technorati Tags: bankruptcy, economy, health care bill, medical bills, universal health care

Ok,I’m 25 and I just got a 04 Pontiac Grand Prix with 112,109 miles on it,for ,000 but got slammed with a 21% interest rate. I tried before hand to get a lender/bank/credit union going in but No one would fiance me because I have 540 credit score. I had to take the deal because the truck I had was a gas hog and was falling apart and I need a way to get to work, so I sold that to get the down payment for the Pontiac.Here the issue,I have had it for 3 months and I have no problem paying the car note(1-a month) but when the economy shot 2 year ago and my job gave pick slips to me and hundred of people,unfortunately I had lost my home and voluntary returned a 02 Monte Carlo to the bank.As you may know now I have a for-closer and an repossession on my credit which is the reason for the low score. I currently have had a job now for the past two years so I making it even tho it get ruff at times with other things like college and apartment bills. I cant find any lender on the net to refinance a car with that many miles and it doest help that my credit score is so low. I was told that since I’m still young I should file bankruptcy to clear my dept and start over now. The only issue I have is I want to keep the car I just got but is there a way in the bankruptcy that I can keep the car and get the lender/bank to lower the interest rate so I can keep it?Or do I have to give it back or keep it out of the filing altogether? I’m a perfect example of bad thing happening to good people because I held a job all life and payed bills on time but you know what the say "sh** happens" Please provide me with some good meaningful advice .on what the best possible decision Thanks!!!

Technorati Tags: apartment, bankruptcy, credit score, economy, fiance, gas hog, interest rate, job, meaningful advice, monte carlo, payed, pontiac, pontiac grand prix, repossession, slips, tho

I mean it undoes the entire point of shopping around and selecting a particular lender. The first time this happened to me was when I had to chose a bank for my student loans and then I was notified 3 months later that the debt was sold. Since then I’ve come to realize that this is standard practice.

Before you leap to the defense of financial institutions think about this: companies that originated home loans (with very poor standards of verification) then sold those loans to other companies so they didn’t have to be the ones waiting to collect the debt were what sent the economy into its latest collapse.

Really, think how odd it would be if consumers could sell their obligations to someone else (for .50 on the ) and then after buying hundreds of obligations and living high on the hog that person could go bankrupt taking out hundreds of debts with him.

My most important concern though is there is no point in shopping around for and making a contract with a particular lender, since they can sell it at anytime. I’m interested in hearing your thoughts, if I had the power I would limit this ability.
Dear Sir Jam, you are factually incorrect. First, this question has nothing to do with delinquent accounts, this says a lot more about you and your issues. Second, debts are sold frequently, in fact almost all home loans are originated by one lender and then resold instantly to another (note paragraph two). Some people are unaware how often their debts are sold because sometimes their payments are handled by a debt servicing company, the one that sends you those little payment books, but they can work for a series of lenders with your one debt. I find it worth while to talk philosophically about our financial system because we have law makers who can change it if enough people ask.

Technorati Tags: collapse, consumers, debts, delinquent accounts, economy, financial institutions, high on the hog, home loans, lenders, living high on the hog, paragraph, payment books, student loans

A woman in our community has a history of lying to people to get money. Her stories conflict with each other so most people are onto her. However, prior to most people catching on, as most of us believed her, she had several fundraisers, claiming she had cancer. To some people, she then claimed to have a miracle healing. To others, she claimed to be on her death bed. She lost a lot of weight, but never her hair. The cancer she was claiming is rare. Only 78 people in the US have it.

She started going into the school and complaining about the sutures in her stomach opening and fluid leaking. She talked about how narrow her esophagus is and how it is hard to eat. She then got really super thin and said she had scar tissue in her stomach from her cancer surgery. she then explained, as if maybe someone found out where she was being treated and needed to cover in case that leaked out…."The reason I’m getting treatment on the bariatric floor is because the cancer specialists didn’t know how to deal with my scar tissue." She worked for the schools and, due to her history of lying, the principal told her she would need a pathology report. She refused stating it was none of her business to ask for something like that.

Is it possible that she raised over 30, 000 dollars from a poverty stricken community to have bariatric surgery? I should mention that she died a few days ago. Can you die from that? It may sound horrible of me because she died, but the people who donated their paychecks to her have since lost their homes. (We have the highest foreclosure rate in the county. Our town was hit hard by this economy). The church that donated 10, 000 dollars has since gone bankrupt. It angers me to think this was a scam.
oh and also, the reason her boss asked for the pathology report is because she said it was because she was holding a fundraiser through the school it was the policy. I’m not sure if thats a real policy but thats what she said.

Technorati Tags: angers, boss, cancer specialists, cancer surgery, conflict, death bed, economy, few days, foreclosure, fundraiser, fundraisers, miracle, money, pathology report, paychecks, poverty, scar tissue, stomach, sutures

We all understand that the free market encourages people towards industry and innovation. When individuals are allowed to gain substantial profit for taking substantial risks, they will provide superior services and goods to those who are willing to pay for them. Free market capitalism has tremendously outperformed command economies like East Germany, North Korea or the USSR. Capitalism has proven itself to be the current most effective method for creating wealth. We also understand that regulation and government is necessary to maintain the integrity and stability of markets. Even George Soros admits that if regulation and oversight didn’t exist that the markets would fail to exist.

The beauty of Capitalism is the fact that it wreaks creative destruction on industries that are inefficient and outdated. If a company does not produce enough profit compared to its competitors it will go bankrupt. The faster it goes bankrupt, the more quickly its resources can be reallocated. This competition and destruction is termed ‘Creative Destruction’ and it helps our economies from stagnating.

I think we all know this and understand this concept. But why has this been forgotten in this current "Economic Crisis"? Why isn’t anyone talking about Creative Destruction as an opportunity? Isn’t it the corner stone of our system? Shouldn’t we be rejoicing and be happy that the dead branches are being trimmed from the tree? Won’t the economy be stronger once all the badly run companies go bankrupt? Won’t this situation teach us how to reorganize our regulations?

Is there anyone who understands capitalism and is happy about this creative destruction?

Jim Rogers said that we are more communist than the communist Chinese. I can’t stand watching the news in the USA. Its like people don’t even know the system they live in. What is your opinion on Free Market Capitalism and the principal of Creative Destruction?

Technorati Tags: beauty of capitalism, command economies, creating wealth, creative destruction, east germany, economic crisis, economy, free market capitalism, george soros, innovation, integrity, jim rogers, north korea, oversight, rejoicing, substantial profit, substantial risks, superior services, ussr, watching the news

I’ve been hearing about how awful California’s economy is lately and that there is talk of filing for Bankruptcy. What exactly would the repercussion be if this were to happen?

Technorati Tags: economy, filing for bankruptcy

Major corporations are going bankrupt and he thinks the economy is strong enough to keep going through turmoil?

Technorati Tags: corporations, economy, turmoil

Lives, food, water, livelihoods, the health of others, the economy, the environment–how can a company continue business as usual after an incident costing so much? Millions, billions–even trillions–isn’t enough to cover all that damage that this oil spill has done. So…how does a company like BP last? Is it just going to get a token fine that is a lot less than the real cost of all that has been lost and ruined?
If the average person had a company that had an accident that caused so much devastation, I’m betting that they would have to say goodbye to their business and their wealth.

Technorati Tags: average person, billions, bp, devastation, economy, health, oil spill, trillions

Red China and the Saudis?
How is this going to help our economy one bit? How can this do anything but further bankrupt the Federal treasury so we can’t even pay to protect our own soil?
Wouldn’t even welfare be a better way to stimulate our economy? At least most of that would be spent on good made in this country – like food, etc.
My point is most people are going to use that money to buy cheap foreign crap, made by Communist dictators! Or to put gas in enormous cars and that money gets to terrorists one way or another.

Technorati Tags: cars, communist dictators, crap, economy, federal treasury, money, red china, saudis, soil, terrorists, welfare

I have about ,000 in debt, i pay around 0 a month in credit bills. Ive never defaulted and my APR’s are low but with the economy my profession has slowed and its getting hard to pay everything and im drowning. Should I file bankruptcy?? I would hate to ruin my credit now that im 31 and have never had a bad score, but what can i do?? im drowning! please help!!

Technorati Tags: economy, profession, score, should i file bankruptcy

Why large banks or institutions can’t go bankrupt? I know that this would be a problem for economy but how exactly huge bank’s bankruptcy would result to economy?

Technorati Tags: bankruptcy, banks, economy, institutions

I am US permanent resident & I am planning to settle in US for rest of my life. I am a doctor. I am much impressed by the superiority of US in the world in almost all sector & its my ambition that US remain so forever. Currently US national debt is 83.4% of its GDP & its presumed to raise further….My question is whether this growing debt affect the prosperity & routine life of a common man? As Japan’s national debt is 192% of its economy & still its flourishingg. Than whats the importance of debt?

Technorati Tags: 192, ambition, amp, common man, economy, gdp, japan, national debt, prosperity, rest of my life, routine life, superiority