Archive for September 2011
Moving Beyond the Great Recession: A Consumer’s Guide
Looking at the latest trends in financial patterns among US consumers, it’s safe to say that many of them have begun to learn the lessons of the Great Recession. In the third quarter this year, consumer debt has continued to go down. While much of this has to do with the fact that some homeowners are walking away from their mortgages, it’s not all bad news. Many consumers are being more careful about using their credit cards. And others have grown increasingly creative in how they navigate their finances by utilizing alternate sources of credit and exploring new kinds of personal investments, including short term loans such as title loans.
Many consumers need to consider new and innovative strategies if they want to gain control of their financial circumstances. Some may request the services of a bank to help them come up with the extra money they need. This assistance may come in the form of loans like home equity loans, or in other financial services like credit cards. However, these types of services aren’t ideal for everyone. Consumers who are already dealing with credit problems typically don’t have much of a shot at borrowing money these ways.
For these reasons, there’s been a growing market in non-conventional financial services. The alternative financial services sector is comprised primarily of short term loans, which allow borrowers to take out loans without needing a perfect credit history. Payday loans are arguably the most commonly available and widely marketed short term loans. Payday loans, while not requiring a credit check, typically require proof of income. This is because they usually need to be paid back by the end of the week, when the borrower gets a paycheck.
One alternative to payday loans is to take out a car title loan. Some borrowers prefer these loans because they tend to offer a larger amount of money. While payday loans tend to be for an amount no larger than the borrower’s paycheck, car title loans offer a more generous amount that’s based on the value of the borrower’s vehicle. And unlike payday loans, car title loans can often take several years to pay back. Consumers might take out a car title loan for “debt consolidation” purposes, using the loan to pay off their debts and then making one convenient monthly payment on the title loan. While this decision may make a lot of sense for consumers who can’t get the traditional tools to get on top of their finances, it’s still important to weigh these decisions carefully.
Although some experts correlate the title loan industry to the debt cycle, the evidence of recent months does not support this theory. The amount of personal debt in the country has decreased significantly at the same time that the title loan industry has grown. Most consumers have used title loans to get out of debt and reorganize their finances.
Child Labour and Child Laborers in Sweatshops 2011 – Is It Right?
When it comes to child labour and child laborers in sweatshops, there has been much publicity, news programs and articles, and a variety of other programs developed to help eliminate this social injustice issue. This social injustice, at least in the eyes of the western world, has been ongoing for centuries. It is sort of a paradox though, as the western world, or at least in the US, we try to buy the cheapest stuff we can find, just look at the success of Wal Mart. While more jobs are shipped overseas and corporations looking to cut costs, more workers and governments will be exploited overseas, and we will go into this further.
Will it ever end, child labour and child laborers in sweatshops, that is, or can we put a stop to this, or at least what or current western societal norms are, think is wrong.
The problem lies in the fact that when we look at sociology and it’s role in this, we come to realize that there are still many different cultures that exist on the planet in this current day, that differ from yours and mine. In our culture, western culture that is, at least I am assuming, child labour in sweatshops is not acceptable, but in other cultures, this labour, or child laborers, it is almost a necessity, and is standard or the socially accepted norm. There are many countries in the third world as we refer to them as, primarily those which have these sweatshops, and the vast majority of the people living in these third world nations are literally dirt poor. While we can say and talk about how much we want to and how much we are going to help them, the reality of the situation is, they are basically left on their own, especially during times of world economic struggles. For some of these cultures, this type of thing has been ongoing for many generations. They are literally so poor that they have to send the kids to work, and in some cultures, even sell them as laborers. I know we think this is an atrocity, but we have to look at their side, and live in their shoes to understand their point of view. For them, this is what they have known and done for many, many years, hard labour work in sweatshops, and it is a way of life for them, just like going to Wal Mart and buying cheap stuff is for many of us.
Child labour is nothing new to the world, nor is the use of child labour in sweatshops, and we have in the past mounted campaigns against such business tactics, but it is still an ongoing problem which will be hard to put an end to. The only true way for which we can solve this problem is to do so at the human and societal level by fixing all of our social and humanistic woes, such as greed, and the need for material things or commercialism, especially those cheap things which are produced primarily by children or exploited workers. As our supposed Corporate World Leaders continue in their quest to cut costs by outsourcing jobs and increasing profits on behalf of Wall Street, they cut away at the very fabric of our middle class, and destroy what was once the American Dream, or those similar dreams in other industrialized nations. Now, as they continue to ship more and more of these jobs overseas to children or people whom are paid much less, less and less people can afford their crap anymore, and so they wind up having to cut more corners and cut more costs, so they outsource some more of those jobs, and, or hire even cheaper labor. Soon will come they day when they start to outsource the outsourced jobs, mark my words! It is a never ending vicious cycle that will continue to spiral out of control until they are finally out of business, or they find a sense of morality, I for one, unfortunately, believe it will be the former by the way. Other businesses which are much more unscrupulous and ruthless have always, and will always use these sweatshops, and even if they are caught, they will just pack up and go elsewhere and get new child laborers to exploit and buy new corrupt government officials and have them in their pockets.
This phenomenon of sweatshops is obviously something which is not new to the world, and it has been ongoing for centuries, just like slavery, actually, probably more than likely since the beginning of man I would imagine, knowing human nature. It will continue to be a problem in this world as long as their is humans left to their own devices, such as greed, dishonesty, cruelty, and a lack of respect for others, in human hearts, if they even have one, and in human minds. So I wish us all good luck with putting an end to this, as I don’t see us stopping greed, corruption, or other such bad human characteristics just like that, at least not in the short term. As it stands now, we can’t even make an truly honest and solid effort to save the planet from ourselves, climate change, and pollution, and this is literally our home, from the same greed, dishonesty and cruelty and power characteristics that enslave many of these young children into child laborers. So, this being just one example of how humans and human nature are somewhat flawed, or so easily corruptible. We have to look no further back than just two short years ago and the world shattering Wall Street meltdown, which ultimately caused the world economy to literally go down the drain and into the sewer, and for many of us on this planet, it is still there, the economy that is. Did doing the right thing in this case, or corporate ethics, or corporate morality keep these greed mongers from literally destroying the livelihoods of many millions of, if not in the billions of people? Do you think that by us attempting to put an end to possibly illegal sweatshops, and they aren’t illegal everywhere, only morally wrong, will stop these immoral businesses from going on and keeping child labour and child laborers on their payroll, if you can even call it a payroll. Sweatshops I would imagine will go on forever and the use of a child in these to do what is deemed labour will always exist, until we can cure the human factor which we went into previously, albeit briefly, but that my friends is another article.
For now in this day and age, the only way we can truly stop this socially unacceptable form of slavery or illegal labour is to do so at the consumer level, and hurt these guys where it hurts most, their bank accounts. To put an end to, or minimize child labour in sweatshops, we must do so as a well organized, well planned, global action with many, many people participating in boycotts. A few people here and a few people there just won’t accomplish anything my friends, as it is but a little grain of sand on a huge beach. We need to have many, many people, organizations, and if possible, governments involved to truly be successful in any attempt to make a real difference here and stop these people from exploiting child laborers. We need to truly use the power of the internet and other resources to be successful at any attempts to shut down this form of slavery and put an end to the immoral activities of the people that perpetrate these crimes against humanity!
Consumer Credit Report: Are You Aware Of Yours?
Talking about a consumer credit report, it is the yearly evaluation of each individual’s credit standing. When you are aware of things that are mentioned in your report, you can get plenty of benefits especially at the time of dealing with credit based services such as loans and credit cards.
Every year, by law, American citizens are entitled to get a free copy of their yearly consumer credit report, which includes everything pertaining to their credit risk profile. This gives financial institutions that are willing to offer you credit an opportunity to take a look at your profile and see whether you will be able to repay the amount or not. If your credit rating is not good, financial institution will treat you as a risk and therefore may not give you credit.
With good credit report, you increase your chances of getting cheaper loans and credit cards. What’s more, your application is not going to be rejected by the financial institution. There are three companies that provide a free consumer credit report on a yearly basis. It includes, Experian, TransUnion, and Equifax.
Being aware of what is there in your credit report; you get a chance to negotiate for better terms and conditions. In addition, you can repair your credit by challenging false details on your report. For this purpose, you just need to get a copy; unfortunately you need to get it from all the three companies that are mentioned above. This is because of the fact that financial institutions don’t report to all these companies, they just report to one with your past record of financial details.
And that is where if you only get a copy of one report then you are not going to get a complete idea of your financial status. Make sure that you get report from all three companies. It is going to help you in improving any negative details that are there in your report. It is of utmost importance that you update your personal details on a regular basis. For example, if you have relocated to another state, you should contact the credit bureaus and tell them about it.
Stay away from companies that promises to improve credit score in a matter of 15 to 45 days, they are scammers whose only intention is to get some quick money from you.
Last but not the least; evaluate the items that are having a negative impact on your credit rating and try to get rid of them.