October « 2008 « Prime Rate Credit

Are Obama’s Tax Plans and Wealth Distribution Plans Socialist?

I have to admit, I am so torn between the two candidates in the 2008 presidential race, John McCain and Barack Obama, that I try to read anything and everything I can about their political agendas and stances, and how they intend to treat this ailing economy that I just get more confused on [...]

People Losing 401k Principles

A lot of people I know are not so fortunate throughout this whole Wall Street fiasco, where many have seen their 401k and personal retirement accounts dwindle by as much as thirty to forty percent. Many of these people too, like my own mother, are close to retirement age, or at least five to [...]

Will Credit Pinch Affect Credit Cards?

This is a good question, and in fact, even credit card lender companies have been tightening their credit limits and who they give credit cards to in the first place for a while now. In the past few years many of my friends have made the observation that they no longer get the free [...]

Toyota’s Offering a Zero Percent Deal

Auto makers have had it just about as rough as home builders over these past few turbulent months on the stock market and in the general economy, with new car sales going down by as much as thirty percent at many dealerships since consumers are a little jumpy about the state of the economy, [...]

More Bank Failures on the Way in 2009?

Financial analysts, in their infinite wisdom (we hope) about the workings and trappings of the economy, have predicted that there will be more bank failures this coming year. Just when we thought we may have been out of the woods when it comes to our banks failing in the US, we may be putting [...]

What is the Debt to Limit Ratio?

This term was a new one to me, but it is actually one of the most important financial terms if you’re interested in knowing the ins and outs of your credit score, and how certain items and happenings may impact this vital score, if you go to get a home mortgage loan or happen [...]

“Wall Street” Movie Echoes True Today

Remember the infamous movie in the late eighties called “Wall Street” where the egomaniac and ruthless takeover and scam artist Gordon Gekko, played wonderfully by the master actor himself Michael Douglas, takes a young aspiring stockbroker under his wing, played by Charlie Sheen, who’s also excellent in this Oliver Stone film, and some insider [...]

More and More People Withdrawing From 401k’s

It seems that market panic has hit, but also a rise in people withdrawing money from their nest eggs – aka 401k’s has been seen as people are getting more and more desperate for cash as well as getting panicked about the stock market and perhaps prematurely withdrawing money in an effort to save [...]

What Do You Think of the $700 Billion Bailout?

I’m not really sure what I think about the proposed $700 billion bailout plan as proposed to congress by President Bush a few weeks ago, but one thing is for sure, and that is that our financial services industry is on the verge of collapse and needed desperate bailing out by someone if they [...]

Can You Live on 50% of Your Income to Get Out of Debt?

I should have titled this one to “get and stay” out of debt, however I was a little worried that would be too lengthy a title for it to be read by anyone What I’m talking about is a recommendation by financial experts that of course is not doable for everyone by a longshot, [...]

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