Credit Cards again
JP Morgan Chase, Citibank, HSBC, Capitol One, BankAmerica, American Express and other major banks issue credit cards to make money. Credit cards can be a useful tool for an intelligent educated responsible consumer. Credit cards can be destructive for consumers who are not intelligent, educated and responsible.
On June 25, 2009, Bernanke (Chairman of the Fed) appeared before Congress to lie about the lies told by Lewis (CEO of BAC) and the lies told by Paulson (former Sec. Treasury and CEO Goldman Sachs). Each called the others, liars. Each told the truth in this case. They all give money to the banks who issue the credit cards.
The members of Congress (who are all liars) use the Congressional Hearing to enable their staff (and themselves) to solicit bribes from the financial services industry. Many issue credit cards.
At the same time, Citicorp announced they are giving huge raises in salary to their top executives and key personnel. Citigroup was given somewhere between $30-90 billion by Congress, Bernanke, Paulson, Obama and Geithner (the new Sec. Treasury). The money Citigroup received was from “bailout”, TARP and other “giveaways”. Citibank is one of biggest issuers of credit cards.
Important government employees get “free” credit cards, expense accounts, cars, gas, vacations, flowers, fine dining, computers and other stuff. The members of Congress, their aides, many relatives, friends and endless other people get the same (including the “free” credit cards and expense accounts).
City and State elected officials learned from Congress. (Or maybe it was visa versa) They get “free” credit cards and expense accounts.
Most major financial services companies, auto makers, NGOs, defense contractors and others that receive government money give “free” credit cards and expense accounts.
Question: If all these parts of government, politicians, etc. get “free” credit cards and expense accounts, who pays? The answer is the people who pay taxes. (*Note- A lot of people have stopped paying taxes.)
Many people who owe money on their credit cards have stopped paying. Issuers of credit cards have negotiated to accept less than the amount owed to settle the debt. Translation: If you stop making your credit card payments, you have a chance of settling for a fraction of what is owed or zero. In some cases the government can wipe out or pay the debt. Ask your elected representative.
Tom notes that the only people who make credit card payments are those who continue to pay. The people who do not pay, pay very little or nothing at all.
Tom suggests you send your credit card statements, bills, etc. to your Congressman or other State and Local Officials. Ask them to pay the amount owed and tell them you want “free” credit cards, expense account and other nice things they give away.
Tom also suggests that you take the money and fund a separate “debit card” account at a trusted local institution because all credit cards may be stopped.
Do you know banks package their credit card loans into securities and sell them to investors? Do you know your pension plan or retirement fund may contain securitized credit card loans? Do you know mutual funds and annuity companies and pension plans invest in credit card loans and mortgage loans and car loans? Do you know that a lot of these loans are “underwater” and will go “kaput”?
Do you know that a lot of banks, Wall Street firms, Insurance Companies, etc. give some credit card profits (bribes) to elected officials?
But … You know.
So … Send your credit card bills to your elected officials and ask them to give your “free” credit cards and all that “free” stuff.
And ... If you have any investment (Pension Plan, Mutual Fund, etc.) that contains credit card, auto, consumer, etc. loans, GET OUT!
Sunday, June 28, 2009
Saturday, June 20, 2009
Student Loans #2
Goodbye $350 million: Associated Press. Monday, June 15, 2009. The federal government will spend up to $350 million to help states developing national standards for reading and math, Education Secretary Arne Duncan announced Sunday. Translation: An additional $350 million will go to “consultants”, lobbyists, union leaders, Congressional Aides, campaign contributors and create “no-show payback” jobs.
AP (6/13/09) Obama announced the U.S. will give $73-90 million to Zimbabwe as a “gesture of support”. It is expected 40-90% will go for lobbyists, campaign contributions, favored NGOs, Congressional Aides, administrative “overhead”, consultants and the usual other fees and expenses. The “gesture of support” is for the efforts of the lobbyists, Congress and campaign contributors in the U.S. and the continuing “human rights” violations in Zimbabwe.
WSJ (6/4/09) Congressmen/women get $1.5-4.5 million just to run their offices (despite the fact they get “free” offices in Washington, DC). In addition they get “free” luxury cars, credit cards, flowers, expensive meals, vacations, etc. for their relatives, friends and contributors. In addition they give “bonuses” to their aides, assistants and other random people. This is not audited and Congress refuses to make the information public. It is estimated the average Congressman/woman costs the taxpayer $15-$60 million per year.
WT (6/12/09) Obama fired the Inspector General for the Corporation for National and Community Service. He was looking into stealing and illegal use of taxpayer money involving Obama’s buddy, Kevin Johnson, the Mayor of Sacramento, California.
June 17, 2009. Obama spoke before Congress promising to stop consumer rip-offs, thefts, scams, etc., including student loans. (Congress laughed.)
June 18, 2009, U.S. Senators trying to find out why Neil Barofsky, I.G. appointed to investigate the $700 billion “bailout”, is denied access to information by the Sec. Treasury and threatened to “keep away” from Goldman Sachs, major banks and Wall Street pals of Obama and the current administration.
What does all this mean?
It means that corruption, waste and fraud permeates every function and every level of the U.S. government. It is well known and documented that colleges, banks, Wall Street firms, Congress, lobbyists and other sleazy entities conspire to take money from the ignorant foolish students and their families.
A recent estimate is that the average graduating college student owes in excess of $27,000 in student loans and will be in debt for their entire lives.
Education is treated by our elected and appointed officials as a source graft and corruption. Student costs are vastly inflated due to theft, kickbacks, bribes to Congress, lobbyist costs and a vast variety of “scams”.
According to Karen (Karen is a consultant and participant of CACTUSA) students can justify sending the “bills” for student loan payments to their Congressperson. Karen also advises students use the money to create their own retirement plan as Social Security will probably not exist by the time they are ready to retire. Karen believes there is ample evidence that most student loans were fraudulently originated.
Bottom line: Education costs are inflated. Many student loans are not justified. Send you bills, payment documents to your elected officials. Use saved money to start a retirement plan because relying on government is not a good idea.
Have a nice day.
AP (6/13/09) Obama announced the U.S. will give $73-90 million to Zimbabwe as a “gesture of support”. It is expected 40-90% will go for lobbyists, campaign contributions, favored NGOs, Congressional Aides, administrative “overhead”, consultants and the usual other fees and expenses. The “gesture of support” is for the efforts of the lobbyists, Congress and campaign contributors in the U.S. and the continuing “human rights” violations in Zimbabwe.
WSJ (6/4/09) Congressmen/women get $1.5-4.5 million just to run their offices (despite the fact they get “free” offices in Washington, DC). In addition they get “free” luxury cars, credit cards, flowers, expensive meals, vacations, etc. for their relatives, friends and contributors. In addition they give “bonuses” to their aides, assistants and other random people. This is not audited and Congress refuses to make the information public. It is estimated the average Congressman/woman costs the taxpayer $15-$60 million per year.
WT (6/12/09) Obama fired the Inspector General for the Corporation for National and Community Service. He was looking into stealing and illegal use of taxpayer money involving Obama’s buddy, Kevin Johnson, the Mayor of Sacramento, California.
June 17, 2009. Obama spoke before Congress promising to stop consumer rip-offs, thefts, scams, etc., including student loans. (Congress laughed.)
June 18, 2009, U.S. Senators trying to find out why Neil Barofsky, I.G. appointed to investigate the $700 billion “bailout”, is denied access to information by the Sec. Treasury and threatened to “keep away” from Goldman Sachs, major banks and Wall Street pals of Obama and the current administration.
What does all this mean?
It means that corruption, waste and fraud permeates every function and every level of the U.S. government. It is well known and documented that colleges, banks, Wall Street firms, Congress, lobbyists and other sleazy entities conspire to take money from the ignorant foolish students and their families.
A recent estimate is that the average graduating college student owes in excess of $27,000 in student loans and will be in debt for their entire lives.
Education is treated by our elected and appointed officials as a source graft and corruption. Student costs are vastly inflated due to theft, kickbacks, bribes to Congress, lobbyist costs and a vast variety of “scams”.
According to Karen (Karen is a consultant and participant of CACTUSA) students can justify sending the “bills” for student loan payments to their Congressperson. Karen also advises students use the money to create their own retirement plan as Social Security will probably not exist by the time they are ready to retire. Karen believes there is ample evidence that most student loans were fraudulently originated.
Bottom line: Education costs are inflated. Many student loans are not justified. Send you bills, payment documents to your elected officials. Use saved money to start a retirement plan because relying on government is not a good idea.
Have a nice day.
Thursday, June 11, 2009
(Goodbye Credit Cards 2) AXP
Kenneth Chenault is the CEO of American Express (AXP). His compensation for 2008 was $43,933,172. That means he made over $21,900 per hour. His compensation was determined by the AXP Board of Directors.
AXP (December 2008) asked for and then received $3.9 billion “bailout” funds from the US Taxpayer. AXP’s gross profit for 2008 was $3.4 billion.
Why did the U.S. Government give AXP $3.9 billion? Maybe, it is because AXP gave Congress and other politicians a lot of money? (*1)
AXP makes money the “old fashion” way. They take money from the public and small businesses by charging high interest rates and imposing fees and penalties. They also inflate the cost of merchandise and services by charging high “merchant fees”. This means that even if you do no business with AXP you pay more for goods and services.
AXP also makes our government corrupt by bribing (“contributions”, jobs to relatives, speaking fees, rebates, envelopes stuffed with cash, etc.) politicians and their staff.
Berkshire Hathaway (BRKA) owns a lot of AXP. Warren Buffet (BRKA’s CEO) profits from companies (Coke, Insurance, etc.) that deliver little value, inflate costs and benefit from the stupidity of the American consumer.
Davis Advisory, Vanguard, T. Rowe Price, State Street and other funds also own a lot of AXP. The Board of Directors of AXP is elected by the big shareholders.
The members of Board of Directors are the people directly responsible for paying the CEO of AXP over $21,900 per hour. This means that that the mutual funds (who vote for the Directors) that hold AXP are partially responsible for giving the CEO of AXP over $21,000 per hour and bribing Congress.
Therefore … Davis Advisor, Vanguard, State Street, etc. are all responsible to some extent for the “bad things” AXP does.
What does this mean?
According to Albert (a participating member of CATUSA), it means that AXP is part of the evil that is destroying America. It means the Board of Directors is acting against the interests of the shareholders. It means that mutual funds and pension plans that hold AXP they are acting “against” their shareholders/members by electing the Board of Directors who are looting the company.
What should we do? According to Albert … If you owe interest or fees on an American Express credit card, the amount you owe was probably inflated by the illegal and/or immoral acts of the Credit Card Industry. And if you spent money you didn’t have, you may have been “entrapped” by lies of the Banking/Credit Industries and Wall Street. And … According to Albert, AXP and the banks and Wall Street have already received you tax dollars to make up for their stupidity and losses, including non-payment of credit cards.
So … Albert recommends that you send your credit card bill to your Congressperson, the President and your credit card company and ask them to pay or use the tax dollars they are stealing to settle any outstanding balances.
Do you own shares of AXP? Why? Do you own a mutual fund that owns shares of AXP? Does your pension plan own shares of AXP? Ask them.
If or when AXP (or the funds that hold AXP) collapses, it is better to be first out (SELL NOW)
What about other credit cards?
Do you know that the amount of people who “default” or don’t pay their credit cards is sharply increasing? Do you know that politicians, government employees, government “contractors” and countless others with political “influence” get “free” credit cards? (“Free” credit cards mean the US Taxpayer and your children and grandchildren pay.)
Credit cards may be stopped. Many have already been cancelled, revoked or limited. People trying to buy gas or food with credit cards will be stopped. It is already happening.
What to do? Albert suggests, open a “debit card” account at a new, and hopefully smaller, neighborhood bank. When credit cards are cancelled, debit cards should work. That’s what Albert says and we trust Albert.
(We do not trust or believe what politicians or the banking industry or Wall Street say.) So .... Goodbye AXP.
*1 It works like this, you (taxpayers) give money to government. Congress gives your (taxpayers) money to AXP. AXP give some of the money back to Congress.
*2 According to CCA (Compensation Consultants Associates), the maximum compensation for the top AXP executives should be no more than $325,000.
*3 10 years ago AXP was worth over $60 per share. 5 years ago, AXP was worth over $50.
Bottom line: Shareholders lose. Taxpayers lose. Public loses. Only politicians and AXP top executives and Board of Directors win.
(According to Albert) DON’T PAY! SELL!
AXP (December 2008) asked for and then received $3.9 billion “bailout” funds from the US Taxpayer. AXP’s gross profit for 2008 was $3.4 billion.
Why did the U.S. Government give AXP $3.9 billion? Maybe, it is because AXP gave Congress and other politicians a lot of money? (*1)
AXP makes money the “old fashion” way. They take money from the public and small businesses by charging high interest rates and imposing fees and penalties. They also inflate the cost of merchandise and services by charging high “merchant fees”. This means that even if you do no business with AXP you pay more for goods and services.
AXP also makes our government corrupt by bribing (“contributions”, jobs to relatives, speaking fees, rebates, envelopes stuffed with cash, etc.) politicians and their staff.
Berkshire Hathaway (BRKA) owns a lot of AXP. Warren Buffet (BRKA’s CEO) profits from companies (Coke, Insurance, etc.) that deliver little value, inflate costs and benefit from the stupidity of the American consumer.
Davis Advisory, Vanguard, T. Rowe Price, State Street and other funds also own a lot of AXP. The Board of Directors of AXP is elected by the big shareholders.
The members of Board of Directors are the people directly responsible for paying the CEO of AXP over $21,900 per hour. This means that that the mutual funds (who vote for the Directors) that hold AXP are partially responsible for giving the CEO of AXP over $21,000 per hour and bribing Congress.
Therefore … Davis Advisor, Vanguard, State Street, etc. are all responsible to some extent for the “bad things” AXP does.
What does this mean?
According to Albert (a participating member of CATUSA), it means that AXP is part of the evil that is destroying America. It means the Board of Directors is acting against the interests of the shareholders. It means that mutual funds and pension plans that hold AXP they are acting “against” their shareholders/members by electing the Board of Directors who are looting the company.
What should we do? According to Albert … If you owe interest or fees on an American Express credit card, the amount you owe was probably inflated by the illegal and/or immoral acts of the Credit Card Industry. And if you spent money you didn’t have, you may have been “entrapped” by lies of the Banking/Credit Industries and Wall Street. And … According to Albert, AXP and the banks and Wall Street have already received you tax dollars to make up for their stupidity and losses, including non-payment of credit cards.
So … Albert recommends that you send your credit card bill to your Congressperson, the President and your credit card company and ask them to pay or use the tax dollars they are stealing to settle any outstanding balances.
Do you own shares of AXP? Why? Do you own a mutual fund that owns shares of AXP? Does your pension plan own shares of AXP? Ask them.
If or when AXP (or the funds that hold AXP) collapses, it is better to be first out (SELL NOW)
What about other credit cards?
Do you know that the amount of people who “default” or don’t pay their credit cards is sharply increasing? Do you know that politicians, government employees, government “contractors” and countless others with political “influence” get “free” credit cards? (“Free” credit cards mean the US Taxpayer and your children and grandchildren pay.)
Credit cards may be stopped. Many have already been cancelled, revoked or limited. People trying to buy gas or food with credit cards will be stopped. It is already happening.
What to do? Albert suggests, open a “debit card” account at a new, and hopefully smaller, neighborhood bank. When credit cards are cancelled, debit cards should work. That’s what Albert says and we trust Albert.
(We do not trust or believe what politicians or the banking industry or Wall Street say.) So .... Goodbye AXP.
*1 It works like this, you (taxpayers) give money to government. Congress gives your (taxpayers) money to AXP. AXP give some of the money back to Congress.
*2 According to CCA (Compensation Consultants Associates), the maximum compensation for the top AXP executives should be no more than $325,000.
*3 10 years ago AXP was worth over $60 per share. 5 years ago, AXP was worth over $50.
Bottom line: Shareholders lose. Taxpayers lose. Public loses. Only politicians and AXP top executives and Board of Directors win.
(According to Albert) DON’T PAY! SELL!
Thursday, May 21, 2009
Annuities ( Tick ... tick ... tick ...
On May 15, 2009, the geniuses who control our economy (Sec. Treasury, etc.) announced Insurance Companies can get TARP (US “giveaways”) funds to make up for the money they lost and stole and used to bribe politicians.
What does this mean?
It means that the US Government will "bail out" the Insurance companies. It means the Insurance companies are in deep trouble. It means they can’t meet their obligations. It means if you invested in an annuity or any other insurance product, you have big problems. It means that you may be the victim of a “scam”, Ponzi scheme, fraud or just plain stupidity.
It means $billions and $trillions more of taxpayer money will be given away. It means, if you are one of the few people who still pay taxes, your tax dollars will go to people (politicians, banks, Wall Street, insurance companies, lobbyists, etc.) who are destroying America.
What are Annuities?
Most “Annuities” are contracts between Insurance Company and an investor. The investor is a person/entity that puts in money. The Insurance Company usually promises to pay the investor/entity money in the future.
Most Annuities are advertised as “Insured”, “Guaranteed”, “A” rated, safe, etc.
Question: Who insures them, guarantees and rates them?
Answer: They insure themselves, guarantee themselves and pay Rating Agencies to rate them. (Hence, the insurance, guarantees, ratings, etc. are relatively meaningless.)
Question: Who regulates, oversees and monitors annuities?
Answer: In most cases Insurance Companies and annuities are regulated by the States.
Question: Who are the “Regulators”?
Answer: The Regulators are people from the Insurance Companies and people appointed by politicians after very generous bribes (donations, fees, etc.) from the Insurance Companies. They serve the Insurance companies and politicians, not the public.
Question: What happens to the money the investors/public put into annuities?
Answer: The Insurance Company is “supposed” to invest the money to generate a “rate of return” that will enable the Insurance Company to give the “promised” return to the investor/entity and a profit for the Insurance Company.
The “*assumed” investments are thought to be high quality and low risk bonds, Treasuries, mortgages, real estate, etc.
Question: What really happens to your money? Where does it go? Is it safe? Does it exist? Are their “books” audited? Are the investment assets held in a bank or brokerage firm or anywhere?
Answer: I don’t know. Information the Insurance Companies give (which is not happy information) cannot be believed. The State Politicians and Regulators and people in Washington cannot be believed or trusted. Maybe the money was abducted by aliens?
There is a great deal of suspicion that a large portion of the money invested in annuities is totally gone. Disappeared! In Swiss bank accounts or vaults or used to buy real estate in Costa Rica or Beijing. The money may be gone because of stupid investments, fraud, and theft or simply never invested in the first place.
Annuities are sold by Investment Firms, Banks, Financial Planners, Accountants, etc. and random crooks who can convince gullible people into giving them money. The people who sell you annuities get high fees (commissions, “kickbacks”, etc.) and don’t know or care what happens to your money.
Many suspect the annuity business is a huge Ponzi scheme. (The Insurance companies make payments using money from new investors.)
Is there a possibility that annuities are safe and secure and can pay their obligations?
Possible? Yes, probable, no!
Question: What should you do?
Answer: If you invested in an Annuity, demand to be given hard evidence of where your money is invested, protected and available on demand.
If you have any doubt, get your money out as soon as possible. Make sure you act fast. Once the flood of redemptions start, you will be much less likely to see your money again.
Think about it!
Also … Congress just passed credit card legislation which will speed up the expected “freeze”.
What should you do? (See “Goodbye Credit Cards” blog. April 27th, 2009)
Also … Most of our Federal and State legislators are acting to help with our economic crisis by increasing their salaries, “perks”, hiring more of their relatives and increasing their expense accounts and your taxes.
Are you paying your taxes?
What does this mean?
It means that the US Government will "bail out" the Insurance companies. It means the Insurance companies are in deep trouble. It means they can’t meet their obligations. It means if you invested in an annuity or any other insurance product, you have big problems. It means that you may be the victim of a “scam”, Ponzi scheme, fraud or just plain stupidity.
It means $billions and $trillions more of taxpayer money will be given away. It means, if you are one of the few people who still pay taxes, your tax dollars will go to people (politicians, banks, Wall Street, insurance companies, lobbyists, etc.) who are destroying America.
What are Annuities?
Most “Annuities” are contracts between Insurance Company and an investor. The investor is a person/entity that puts in money. The Insurance Company usually promises to pay the investor/entity money in the future.
Most Annuities are advertised as “Insured”, “Guaranteed”, “A” rated, safe, etc.
Question: Who insures them, guarantees and rates them?
Answer: They insure themselves, guarantee themselves and pay Rating Agencies to rate them. (Hence, the insurance, guarantees, ratings, etc. are relatively meaningless.)
Question: Who regulates, oversees and monitors annuities?
Answer: In most cases Insurance Companies and annuities are regulated by the States.
Question: Who are the “Regulators”?
Answer: The Regulators are people from the Insurance Companies and people appointed by politicians after very generous bribes (donations, fees, etc.) from the Insurance Companies. They serve the Insurance companies and politicians, not the public.
Question: What happens to the money the investors/public put into annuities?
Answer: The Insurance Company is “supposed” to invest the money to generate a “rate of return” that will enable the Insurance Company to give the “promised” return to the investor/entity and a profit for the Insurance Company.
The “*assumed” investments are thought to be high quality and low risk bonds, Treasuries, mortgages, real estate, etc.
Question: What really happens to your money? Where does it go? Is it safe? Does it exist? Are their “books” audited? Are the investment assets held in a bank or brokerage firm or anywhere?
Answer: I don’t know. Information the Insurance Companies give (which is not happy information) cannot be believed. The State Politicians and Regulators and people in Washington cannot be believed or trusted. Maybe the money was abducted by aliens?
There is a great deal of suspicion that a large portion of the money invested in annuities is totally gone. Disappeared! In Swiss bank accounts or vaults or used to buy real estate in Costa Rica or Beijing. The money may be gone because of stupid investments, fraud, and theft or simply never invested in the first place.
Annuities are sold by Investment Firms, Banks, Financial Planners, Accountants, etc. and random crooks who can convince gullible people into giving them money. The people who sell you annuities get high fees (commissions, “kickbacks”, etc.) and don’t know or care what happens to your money.
Many suspect the annuity business is a huge Ponzi scheme. (The Insurance companies make payments using money from new investors.)
Is there a possibility that annuities are safe and secure and can pay their obligations?
Possible? Yes, probable, no!
Question: What should you do?
Answer: If you invested in an Annuity, demand to be given hard evidence of where your money is invested, protected and available on demand.
If you have any doubt, get your money out as soon as possible. Make sure you act fast. Once the flood of redemptions start, you will be much less likely to see your money again.
Think about it!
Also … Congress just passed credit card legislation which will speed up the expected “freeze”.
What should you do? (See “Goodbye Credit Cards” blog. April 27th, 2009)
Also … Most of our Federal and State legislators are acting to help with our economic crisis by increasing their salaries, “perks”, hiring more of their relatives and increasing their expense accounts and your taxes.
Are you paying your taxes?
Tuesday, May 12, 2009
Student loans
Tuition cost (2007) at public colleges averaged around $6,000, at private colleges almost $23,000. Room and board adds another $6-12,000. (These amounts do not reflect the $8-17,000 taxpayer funds.)
Scholarships, grants, student aid and other programs are available to reduce tuition. In some cases, assistance can reduce room and board costs. The banks, lending institutions and others involved with student loans try to make the information and procedures as secret and confusing as possible.
Why? So they can make huge profits from fees, charge outrageous interest rates and collect “kickbacks” and bribes.
Once upon a time, the main functions of schools was to teach students to read, write, do mathematics, learn science, history and other skills needed to succeed and become useful members of society. To pay for college, young people would work and they and their families would save.
Colleges today have changed. Many have become playgrounds that emphasize “politically correct” subjects, questionable “life skills” and fail dismally at preparing students to become useful productive members of our society.
Colleges today are a source of huge profits. Loan officers get kickbacks. College Administrators, Coaches, Fund Raisers, Lobbyists, etc. get inordinate amounts of money. College teachers make a lot of money by requiring students buy very expensive books for which they receive “kickbacks” and other fees.
The people who make the most money from education are the teacher union officials and the politicians. They get bribes, handle teacher pension plans, hand out contracts, collect taxpayer money, etc.
America has the most expensive education system in the world. Aside from a few exceptions, America’s educational system is substandard in relation to most of the developed nations and is failing dismally.
In America it is estimated that only 20% of every dollar allocated for education goes for education. The rest is stolen or wasted.
By every estimate, college costs are vastly inflated. The banks and other lending institutions that make Student Loans have received Government “bailout” money.
So …. Do you make student loan payments? Why?
A lot of the student costs incurred are a result of inflated expenses, theft, fraud, criminal activity, corruption and the stupidity of the borrowers.
As a result, many students (and their parents) stopped making payments on their loans. They advocate that all students send the payment requests, bills, etc. to their Congressmen/women.
Also … Bumblebee Tuna reduced the size of their 8 ounce can of tuna which was only 6 ounces to 5 ounces. That is a 16.6% increase in cost.
Q. Why did they do that?
A. Because they are greedy and the American consumer is stupid.
What can we do? Boycott Bumblebee Tuna and products produced by Bumblebee.
Scholarships, grants, student aid and other programs are available to reduce tuition. In some cases, assistance can reduce room and board costs. The banks, lending institutions and others involved with student loans try to make the information and procedures as secret and confusing as possible.
Why? So they can make huge profits from fees, charge outrageous interest rates and collect “kickbacks” and bribes.
Once upon a time, the main functions of schools was to teach students to read, write, do mathematics, learn science, history and other skills needed to succeed and become useful members of society. To pay for college, young people would work and they and their families would save.
Colleges today have changed. Many have become playgrounds that emphasize “politically correct” subjects, questionable “life skills” and fail dismally at preparing students to become useful productive members of our society.
Colleges today are a source of huge profits. Loan officers get kickbacks. College Administrators, Coaches, Fund Raisers, Lobbyists, etc. get inordinate amounts of money. College teachers make a lot of money by requiring students buy very expensive books for which they receive “kickbacks” and other fees.
The people who make the most money from education are the teacher union officials and the politicians. They get bribes, handle teacher pension plans, hand out contracts, collect taxpayer money, etc.
America has the most expensive education system in the world. Aside from a few exceptions, America’s educational system is substandard in relation to most of the developed nations and is failing dismally.
In America it is estimated that only 20% of every dollar allocated for education goes for education. The rest is stolen or wasted.
By every estimate, college costs are vastly inflated. The banks and other lending institutions that make Student Loans have received Government “bailout” money.
So …. Do you make student loan payments? Why?
A lot of the student costs incurred are a result of inflated expenses, theft, fraud, criminal activity, corruption and the stupidity of the borrowers.
As a result, many students (and their parents) stopped making payments on their loans. They advocate that all students send the payment requests, bills, etc. to their Congressmen/women.
Also … Bumblebee Tuna reduced the size of their 8 ounce can of tuna which was only 6 ounces to 5 ounces. That is a 16.6% increase in cost.
Q. Why did they do that?
A. Because they are greedy and the American consumer is stupid.
What can we do? Boycott Bumblebee Tuna and products produced by Bumblebee.
Monday, April 27, 2009
Goodbye Credit Cards
The next disaster: Credit Cards are a ticking time bomb about to self destruct.
Credit cards can be a useful. They can also lead to financial disaster. Before credit cards, people had to save up or borrow money to buy something. Credit cards allow people to buy things with no money. They buy things they cannot afford and cannot pay for.
Credit cards are very profitable for banks, Wall Street and politicians. When you charge an item on your credit card, the bank collects a fee from the vendor. (It is reflected in the cost.) If you don’t pay the full amount you owe, the banks charge you interest which can rapidly go over 25% plus endless fees. People are urged to buy more than they can afford. It is a “sucker game” that pushes people deeper into debt which increases the interest rates and fees they pay. The banks and Wall Street make a lot of money and they in turn, pay the politicians.
Pay the politicians? The banks give millions to everyone in government. (Everyone means Congress, the President, the cabinet, etc.) That enables the banks to tell Congress, regulators, etc. what to do. And … Congress, regulators, etc. do what they are told.
Due to the economic crisis, (which the banks helped cause) a lot of people are defaulting on their credit cards. The potential loss is over 1.5 trillion. The banks and Treasury are worried. Massive credit card defaults will make our economy grind to a halt. The government keeps giving them (the banks) your tax-dollars to make up for any losses.
The government reports that “average” credit card debt is over $10,000. The true number is probably a lot higher ($15-20,000). (No one believes our government any more.) Banks report credit card defaults are accelerating. There is growing fear that a “credit card crisis” is looming.
They (Government, Banks and Credit-card companies.) have a plan to freeze credit cards. Many companies have already lowered credit limits and “shut-down” many cards.
“Freeze credit cards!” What does that mean? It means credit cards will no longer work to buy gas or groceries or a dress or TV. Only debit cards will be accepted.
What happens if they stop honoring credit cards? It means that our economy will grind to a halt. Many people will not be able to buy food, gas, pay bills and provide for basic needs.
There is political “noise” to pressure the banks to stop some of the credit card “scams” and abuses. The banks and Wall Street aren’t worried. They believe the money they give to the politicians will prevent any “meaningful” action. They don’t remember what happened in the 1930s.
What should you do? Advice from Charles (a CACTUS participant): Open an account at a bank where you do not have a credit card. Link a DEBIT CARD to that account. The debit card will work (hopefully).
Where can you get money from? Stop paying your current credit card bills. Send the statement you receive to your Congressperson, Representative, Sec. Treasury, etc. Ask them to pay what you owe. The banks give them money so it would be fair if they paid your bills. Also ask them to give you $1,000,000 as a “retention bonus”. That is what Congress does with you tax dollars.
According to Charles, “hurting” the banks, Wall Street and politicians is OK; because they are greedy immoral liars and they hurt you.
Charles also wants to remind you that nobody forced you or other people to spend foolishly, go into debt and help destroy the future of your children.
You are at fault too!
Bottom line:
Put money in a segregated account and get a DEBIT card.
Stop buying things “on credit”.
Send your bills to Congress and the President. Tell them to stop giving away your money.
Stop buying junk you don’t need.
And … you should blame the politicians and bankers. But also blame yourself for buying things you can’t afford.
Also …. Advice from Mary (Mary works with us): Get a new credit card. Spend as much as you can. Obama and Congress and the Banks and Wall Street urge people to spend money to help the economy.
Then send the bills to Obama and Congress and the Banks and Wall Street.
Do it! People are doing it!
Credit cards can be a useful. They can also lead to financial disaster. Before credit cards, people had to save up or borrow money to buy something. Credit cards allow people to buy things with no money. They buy things they cannot afford and cannot pay for.
Credit cards are very profitable for banks, Wall Street and politicians. When you charge an item on your credit card, the bank collects a fee from the vendor. (It is reflected in the cost.) If you don’t pay the full amount you owe, the banks charge you interest which can rapidly go over 25% plus endless fees. People are urged to buy more than they can afford. It is a “sucker game” that pushes people deeper into debt which increases the interest rates and fees they pay. The banks and Wall Street make a lot of money and they in turn, pay the politicians.
Pay the politicians? The banks give millions to everyone in government. (Everyone means Congress, the President, the cabinet, etc.) That enables the banks to tell Congress, regulators, etc. what to do. And … Congress, regulators, etc. do what they are told.
Due to the economic crisis, (which the banks helped cause) a lot of people are defaulting on their credit cards. The potential loss is over 1.5 trillion. The banks and Treasury are worried. Massive credit card defaults will make our economy grind to a halt. The government keeps giving them (the banks) your tax-dollars to make up for any losses.
The government reports that “average” credit card debt is over $10,000. The true number is probably a lot higher ($15-20,000). (No one believes our government any more.) Banks report credit card defaults are accelerating. There is growing fear that a “credit card crisis” is looming.
They (Government, Banks and Credit-card companies.) have a plan to freeze credit cards. Many companies have already lowered credit limits and “shut-down” many cards.
“Freeze credit cards!” What does that mean? It means credit cards will no longer work to buy gas or groceries or a dress or TV. Only debit cards will be accepted.
What happens if they stop honoring credit cards? It means that our economy will grind to a halt. Many people will not be able to buy food, gas, pay bills and provide for basic needs.
There is political “noise” to pressure the banks to stop some of the credit card “scams” and abuses. The banks and Wall Street aren’t worried. They believe the money they give to the politicians will prevent any “meaningful” action. They don’t remember what happened in the 1930s.
What should you do? Advice from Charles (a CACTUS participant): Open an account at a bank where you do not have a credit card. Link a DEBIT CARD to that account. The debit card will work (hopefully).
Where can you get money from? Stop paying your current credit card bills. Send the statement you receive to your Congressperson, Representative, Sec. Treasury, etc. Ask them to pay what you owe. The banks give them money so it would be fair if they paid your bills. Also ask them to give you $1,000,000 as a “retention bonus”. That is what Congress does with you tax dollars.
According to Charles, “hurting” the banks, Wall Street and politicians is OK; because they are greedy immoral liars and they hurt you.
Charles also wants to remind you that nobody forced you or other people to spend foolishly, go into debt and help destroy the future of your children.
You are at fault too!
Bottom line:
Put money in a segregated account and get a DEBIT card.
Stop buying things “on credit”.
Send your bills to Congress and the President. Tell them to stop giving away your money.
Stop buying junk you don’t need.
And … you should blame the politicians and bankers. But also blame yourself for buying things you can’t afford.
Also …. Advice from Mary (Mary works with us): Get a new credit card. Spend as much as you can. Obama and Congress and the Banks and Wall Street urge people to spend money to help the economy.
Then send the bills to Obama and Congress and the Banks and Wall Street.
Do it! People are doing it!
Tuesday, April 21, 2009
Mortgages: What to do?
Once upon a time, a mortgage was a loan made by a bank (or similar institution) for the purchase of a home (or real estate of some sort).
The borrower paid interest to the bank and was required to repay the principal. The bank got the money from investors or depositors. The bank made money because they got a higher rate from the borrower than they paid the investor/depositor.
Example: The mortgage cost the borrower 6% and the bank’s cost is 4%. Profit to the bank is 2%. The bank made sure the borrower made a “down payment” that was high enough to protect against default and that the total of the mortgage plus “down payment” was less than the value of the home. The bank also made sure that the borrower could afford the mortgage payments.
That was changed by our Presidents (mainly Clinton), Congress and regulatory agencies at the urging of political parties, Wall Street, Banks and Special-interest groups. Over-inflated mortgage loans were made to people with no money, no jobs and no hopes of paying. These mortgages were “securitized” and sold to investors, pension plans, etc. who had no idea what they were buying. They (Wall Street) also created "derivatives" which may bankrupt America. The “rules and regulations” to protect the public were removed. This helped to further ignite the real estate bubble and subsequent collapse.
What is happening now?
The same Congress and Politicians and Banks and Wall Street that caused the current disaster are once again in charge. They are giving away billions to the Banks, Wall Street, Foreign Investors, AIG, Goldman Sachs, Hedge Funds, etc.
Our government also is giving money to reduce the amount owed on some mortgages, make mortgage payments for others and pay mortgages off entirely in some cases. Our government will also help you buy a home and get a new mortgage, especially if you cannot afford one or can’t make payments. (?????????)
What does this mean?
It means that if you are one of the less than 50% of Americans who still pay taxes, your money is going to banks, hedge funds, Wall Street, etc. to pay for failed mortgages, toxic derivatives and to pay for other people’s mortgages.
So, what can you do?
According to Martin (a contributor), if your house is worth less than the amount of your mortgage, stop paying. If you continue to pay, you are a moron!
If your home is worth more than the mortgage balance, stop paying. Then, contact the mortgage holder and tell them you want the amount owed to be renegotiated to a lower amount. Send the information to your Senator, Representatives and the White House. They can lower the amounts you owe and the interest rate you pay.
If your mortgage is paid-off, take out a “home equity” loan or refinance. Then don’t make payments. Contact the White House and your Congress-people. They will lower the amount you to less than you borrowed (Nice way to make a quick profit.).
Martin also advises that most mortgages are illegal and/or fraudulent. He suggests that you find out who “owns” or “holds” your mortgage and require documented proof. Until you receive acceptable evidence, don’t make any payments to anyone. The payments may be illegal.
Martin also notes that making mortgage payments aids and abets the pervasive corruption of Government and America’s Financial Institutions. Martin says, “Making mortgage payments is Anti-American and probably racist”.
Bottom line: (According to Martin.) The biggest “financial and mortgage scam” in history is taking place. If you continue to make any mortgage payments, you are NUTS!
Send all bills, collection letters, etc. to your Congressman/woman or to Obama. They have been well paid by the banking institutions, etc. They will take care of it.
Martin says, "If we all stop giving them money, Congress may stop stealing." "Vote with your dollars!"
Actnow98@aol.com
The borrower paid interest to the bank and was required to repay the principal. The bank got the money from investors or depositors. The bank made money because they got a higher rate from the borrower than they paid the investor/depositor.
Example: The mortgage cost the borrower 6% and the bank’s cost is 4%. Profit to the bank is 2%. The bank made sure the borrower made a “down payment” that was high enough to protect against default and that the total of the mortgage plus “down payment” was less than the value of the home. The bank also made sure that the borrower could afford the mortgage payments.
That was changed by our Presidents (mainly Clinton), Congress and regulatory agencies at the urging of political parties, Wall Street, Banks and Special-interest groups. Over-inflated mortgage loans were made to people with no money, no jobs and no hopes of paying. These mortgages were “securitized” and sold to investors, pension plans, etc. who had no idea what they were buying. They (Wall Street) also created "derivatives" which may bankrupt America. The “rules and regulations” to protect the public were removed. This helped to further ignite the real estate bubble and subsequent collapse.
What is happening now?
The same Congress and Politicians and Banks and Wall Street that caused the current disaster are once again in charge. They are giving away billions to the Banks, Wall Street, Foreign Investors, AIG, Goldman Sachs, Hedge Funds, etc.
Our government also is giving money to reduce the amount owed on some mortgages, make mortgage payments for others and pay mortgages off entirely in some cases. Our government will also help you buy a home and get a new mortgage, especially if you cannot afford one or can’t make payments. (?????????)
What does this mean?
It means that if you are one of the less than 50% of Americans who still pay taxes, your money is going to banks, hedge funds, Wall Street, etc. to pay for failed mortgages, toxic derivatives and to pay for other people’s mortgages.
So, what can you do?
According to Martin (a contributor), if your house is worth less than the amount of your mortgage, stop paying. If you continue to pay, you are a moron!
If your home is worth more than the mortgage balance, stop paying. Then, contact the mortgage holder and tell them you want the amount owed to be renegotiated to a lower amount. Send the information to your Senator, Representatives and the White House. They can lower the amounts you owe and the interest rate you pay.
If your mortgage is paid-off, take out a “home equity” loan or refinance. Then don’t make payments. Contact the White House and your Congress-people. They will lower the amount you to less than you borrowed (Nice way to make a quick profit.).
Martin also advises that most mortgages are illegal and/or fraudulent. He suggests that you find out who “owns” or “holds” your mortgage and require documented proof. Until you receive acceptable evidence, don’t make any payments to anyone. The payments may be illegal.
Martin also notes that making mortgage payments aids and abets the pervasive corruption of Government and America’s Financial Institutions. Martin says, “Making mortgage payments is Anti-American and probably racist”.
Bottom line: (According to Martin.) The biggest “financial and mortgage scam” in history is taking place. If you continue to make any mortgage payments, you are NUTS!
Send all bills, collection letters, etc. to your Congressman/woman or to Obama. They have been well paid by the banking institutions, etc. They will take care of it.
Martin says, "If we all stop giving them money, Congress may stop stealing." "Vote with your dollars!"
Actnow98@aol.com
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