Author Archive
How Do I Get Out of a Home I Can’t Afford?
From: Walletpop
Q. We bought a house in Tennessee, and we are deep into debt. We want to know if we can just ask the bank to take back the house? And would we owe the bank money? We have two car payments we are having trouble paying, we are up to date on all our bills, but have nothing left to live on.
We bought the house this past November and received the tax credit. How does that work? Does that have to be repaid too? We are planning to meet with someone from consumer credit counseling, but we are so stressed from our bills. We are both retired, and we already filed bankruptcy in 2005.
Anonymous
Lenoir City, Tenn.
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Joke of the Day
An airline in Sweden plans to host the first-ever in-flight gay wedding in December. The entire flight crew is excited for the event, although the right wing isn’t happy about it.
- Late Night with Jimmy Fallon
House Prices Are Still 10% Too High, Says Barry Ritholtz
From: Yahoo Finance
Money-manager Barry Ritholtz has a message for the National Association of Realtors, the trade group that always puts a sunny spin on the outlook for the housing market, no matter how horrific the facts may be:
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Avoid the Blame Game—Take Responsibility for Your Financial Affairs
From: Free Money Finance
The following is an excerpt from Your Life & Your Money.
We must become the change that we want to see in the world.—Mahatma Gandhi
We live in an age of delusion. It seems to be the inherent nature of mankind.
Our biggest delusion is a sense of entitlement. It permeates our country. People delude themselves into believing everything is fine while engaging in behavior that’s definitely not fine. Then, when something goes wrong, they stand there blankly and do nothing about it, expecting somebody else to pick up after them! Everywhere you turn, people are blaming everybody else for their problems.
Look around. It’s everywhere—in our neighborhoods, schools, big business. There’s the chain smoker who sues the tobacco company. Or the overweight, overfed cheeseburger eater who sues the hamburger chain, claiming that their food made him fat. Or the guy who drank too much, left the bar and then crashed his car, who blames the bartender for serving him too much alcohol.
The U.S. Path to Collapse
From: National Inflation Association
The Financial Crisis Inquiry Commission today held hearings with former Lehman Brothers Chairman Dick Fuld. They are trying to figure out why Lehman Brothers was allowed to collapse, with the belief that the failure of Lehman Brothers caused the financial crisis of 2008. The truth is, the failure of Lehman Brothers was a result of the crisis and allowing them to fail was the only correct decision the government made during the crisis.
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Frugality and Accumulation
From: The Simple Dollar
The other night, I watched a couple episodes of the A&E documentary series Hoarders. For those of you who haven’t seen it, Hoarders is a documentary series that focuses on the struggles of people who suffer from compulsive hoarding.
One thing that struck me over and over again was that people were saying things along the lines of, “I can’t get rid of this stuff because I might have a use for it some day.” Of course, they were making this statement in a home that was so full of stuff that they had difficulty even walking through their home.
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Weekly Roundup
As always, we hope you enjoyed the content provided this week and encourage you to read often and be sure to comment! The Friday Funnies clip about “Women’s Parking Skills” was actually posted by a woman -- really funny! Have a great weekend everyone!
- 10 States With Ridiculously Low Unemployment and Why
- 4 Non Traditional Places To Network For Employment
- Tony Robbins Economic Warning Part 2
- The World Won’t Flock to Paper
- Rosenberg: This is a ‘Depression, Not Just Some Garden Variety Recession’ – With Video
Best Regards,
The Daily Middle Team
Joke of the Day
President Obama said he can’t walk around with his birth certificate plastered on his forehead. Apparently he was reacting to new polls that show 1 in 5 Kenyans now believe he was born in Hawaii.
- Jay Leno
Ron Paul, Audit The Gold!
Question: You’ve been calling recently for an audit of the gold held by the Federal Governement. Why do we need to do that?
Answer: “Well it’d be nice for the American people to know whether or not the gold is there. They took it from the American people and then they made it illegal for people to own the gold. In recent decade or so, central banks have either sold a lot of gold or leased it out. Now our government denies that they have done any of that so they shouldn’t have any fear of an audit. And we have not had an audit for more than 30 years to find out if the gold is there and I just think it’s reasonable. Most people who run a business do audits and inventories so I think the American people deserve to know that all the gold is there.”
Are Americans De-Banking?
The financial crisis that destroyed some of the world’s biggest banks and sent others to the brink of failure have changed Americans’ idea of lending and borrowing. While most still seem to have no problems storing their money at banks small and large, a few trends indicate that everyone from consumers to some of the world’s largest companies are straying away from large financial institutions as sources of funding.
Fortune lists three signs that there might be a subtle de-banking happening in America:
1) Tapping into retirement
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