Pawn Shops Prosper As Economy Tanks

ABC News:

As more and more Americans cope with unemployment, struggle to pay their mortgages and deal with higher gas prices, it seems they are turning to pawn shops to get a little extra cash.

While there is no conclusive data, the National Pawnbrokers Association says its members have seen an increase in business.

Dave Adelman, president of the 2,400-member association, said that people are taking longer to pay back their loans and are more often taking the cash and never coming back for their goods.

"When these people come in, they need money. They need money to survive on," Adelman said. "It's a way of life for them. They have no where else to go to make ends meet."

Read the whole story: ABC News

Comments

[realitytrumpsbull]

National Pawnbrokers Associatio­n...having had a relative with a pawn shop problem, I'm fully in favor of seeing all those seedy little shit stores closed down. Organized crime all day long, put em out of business. Second-hand store? Ok, pawn shop? Not ok.

[glitzqueen]

Looks like happy days ahead for eBay, too.

[HouseOfRoberts]

Bush has turned the U.S. into the world's pawn shop. All that debt and trade imbalance has Dubai, Saudi Arabia, Europe and the Chinese buying us up at discount prices!

[Stretchumall]

It's been awhile since i've been in a pawn shop looking for deals (mostly musical inst.) and i could not believe how many tools were being pawned. I guess if there is no work they don't need tools.


Got Rope?

[mrcontinental]

"When these people come in, they need money. They need money to survive on," Adelman said. "It's a way of life for them. They have no where else to go to make ends meet."

And we screw them until they cry and beg for mercy, then we screw them some more. At least that's what he was thinking.