Excessive mortgage debt, student loan debt, medical debt and more have placed untenable burdens upon millions. As we learn from our Torah portion, a cursed society is one in which factions are trapped in merciless power dynamics as debtors.
It was all a game to me. I was too big to fail. Until I started to get late and overdue notices from my student loan and credit card companies.
International long-term private finance to developing countries has changed dramatically in the wake of the global financial crisis. In such a context, it is no surprise that the creation/expansion of national and multilateral development banks has been getting so much attention.
Red has become the new black as debt provides a temporal increase in consumption, while transferring appreciation from labor to the capital side of the economy. Have we created an environment of investment or indenture?
One of the most important decisions we ever make is what we are going to grow up to be. Astronaut or the Lone Ranger score high when we are in kindergarten, but by high school, many of us are completely clueless as to what we want to do for the rest of our lives.
not only am I a grown woman who still refers to her mother as Mommy, but I'm also a grown woman who goes to great lengths to conceal from her parents just how much of a financial mess she is.
More than half of Americans have more savings than credit debt, a trend that's been rising since 2011. However, having more savings and being comfortable with the amount of savings and debt you have are two very different things.
"Scare tactics [such as jumping off a fiscal cliff] by both political parties are non-constructive," cautions Cutler. Think instead, Cutler offers, of Butch Cassidy and the Sundance Kid. Pointing out the pair survived their jump, Cutler talks of a jump into opportunity.
It may be politically popular to yell about deficits being bad, but political popularity cannot change arithmetic. If President Obama wants to boost the economy, he will need to get more government spending to put people back to work, which will mean larger deficits.
Low or inconsistent income can create a cycle of taking on debt (particularly "bad" debt) to make ends meet. And unfortunately, the recent economic crisis has affected those in Gen Y dramatically.
A smaller deficit is welcome, but we're nowhere close to a responsible fiscal course, and the president's ever-expanding spending plans -- and desires to hike taxes even more -- won't get us there either.
The 1970 Illinois constitution states that Illinois' state income tax must be applied with one rate paid by all taxpayers. Illinois is one of nine ...
While total freedom from financial obligation is probably an unrealistic goal for most of us, there are still a few steps you can take that will enable you to gain firmer financial footing and leave you less vulnerable in times of financial hardship.
Millions of dollars are spent each year on financial education programs to educate our populace on the costs and benefits of sound money management. Unfortunately, to date, financial education has been remarkably unsuccessful.
It is bizarre that Summers would be seriously considered as the next Fed chair. Memories tend to be short in Washington, but those of us removed from elite circles know that Summers' policies played a central role in setting up the economy for the crash.
Being in debt is a normalcy in this society, so getting -- and staying -- out of debt is a crazy new thing altogether. You're definitely going against the grain on this path.