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  • The Real Reason Why Small Businesses Can’t Get Approved for a Loan

    The Real Reason Why Small Businesses Can’t Get Approved for a Loan

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    Oh no, not again. Yes, that’s right, I’m not going to go there… at least not for today. There’s no shortage of excuses and reasons why small businesses can’t get approved for business loans. It never fails to amaze me the coverage this topic gets especially when the national economy goes into recession or when major political races are at stake. Yes, I agree that small business growth and success is the economic back bone of the US and also, that more than 60% of the US workforce are employed by small businesses. But where I get off the group think is when it comes to the lack of financing for a small business with a business loan. In this article, let’s explore the REAL REASON that small business don’t qualify for loans and the truth may even surprise you.

    It’s Deeper Than Statistics

    I love numbers and even better, I love reading financial statements and the notes. The love for numbers did not become a passion for me in the world of small business lending until I came to understand that the financial statements tell the story of a business. Similar to the story behind the financial statements, there’s a story behind the statistics stating that small business owners can’t get approved for loans especially if they’re of a certain ethnic group, gender, and / or industry. I’m not completely washing away the reality that there’s a shred of discrimination in our world… hey, we live in a broken society with broken people. However, a large part of this thinking (small business owners can’t get a loan because of skin color, gender, etc) is just simply untrue. I’ve been on both sides of the fence so to speak in the world of small business lending. I’ve worked for a big bank, and I’ve worked for a not for profit community development financial institution and it’s always the same. The number one reason why small business can’t (and don’t) get approved for loans is due to the considerably large operating risk that exists in these businesses.

    Operating Risk: It All Starts with You

    What does operating risk mean? Well, here’s a question to bring some clarity. What speaks more to sustainability: a business that’s been operating for at least one year or a business that’s still in the owner(s) mind? I’d go with the first option. Operating risk means that you have and continue to execute on your business plan(s) and that the business is cash flow positive (i.e. returning a sustainable profit margin to cover costs and make you money). Here’s the sad truth: not many small businesses get to this point. Most if any, within two years are still trying to figure things out. OK, granted, there are levels to this particularly when you observe the diversity of businesses. However, I’m speaking to the ones that endeavor to obtain a business loan.

    In closing, I offer a couple of ways to minimize your operating risk and increase your chances of getting approved for a loan. (1) Grow tough skin and learn to survive. The game of business is one of survival. Most days, things will not go your way and you just have to stay the course, be adaptable, and stay true to the business mission. (2) Never forget the 3 P’s – Production, Processes, and Personnel. Become efficient in the production of what you offer for sale, create and put in place processes to enhance production efficiency and ultimately the customer experience, and finally, hire, train, and invest in people who share your vision for the business.

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    Source by Pierre Pinkerton

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  • The Political Economy Of Coronavirus By Kunle Wizeman Ajayi

    The Political Economy Of Coronavirus By Kunle Wizeman Ajayi

    The Political Economy Of Coronavirus By Kunle Wizeman Ajayi 1

    The Political Economy Of Coronavirus By Kunle Wizeman Ajayi 2


     

    The most powerful person in Aso Rock, Abba Kyari; who is the chief of staff to the president, has tested positive to Covid19. No government official can reach President Buhari without him. There is a ripe suspicion that the kitchen cabinet might have been infected. Likewise in Europe, the most powerful person, Angela Merkel the chancellor of Germany, has been quarantined. While Trump and Boris Johnson took the same path in trying to ignore the pandemic, their governments are in deep crises of the damages and exposures their neglect has caused the citizens.

    As I type, the fear of corona virus is the beginning of real wisdom as governments are now banning even churches and mosques from gathering. The Nigerian federal ministry of health has announced 42 cases so far. And even the mass of working people who have hitherto doubted our thieving class so far, are now more wary and precautionary over their immediate safety without relying on the failed health institutions. People seldom shake hands now. Corona waves na the way to greet now! That corona virus has turned a corruption racket is what will be duly discussed another day. 

    Industries are closing down as Wall Street falls like pack of cards. US President Donald Trump is shouting “cuts” for the working class and bail-outs for industries and big business. Whereas, Socialist presidential aspirant Bernie Sanders is calling for “healthcare for all” as well as pay for all US citizens staying at home during the pandemic days. The globalised trend of the corona virus needs a global understanding and lessons of how the world is being ruled everywhere. The way US rulers have failed to care for the poor and invest in proper and compulsory healthcare for all but private pharmaceutical companies who make healthcare a commercial quantity that only the rich can afford, is the same way Nigerian rulers failed to build hospitals and kept allocating between 4 to 6% budgetary spending on education while them and their children spend billions on medical tourism. Also, Boris Johnson’s UK government is renting “beds at hospitals.” This is unlike Spain that has nationalized its healthcare!

    The price of crude oil has fallen globally. The global stock exchange has crashed as workers can no longer go to work and make great wealth for their casino. Coronavirus has superceded SARS with its speedy spread and effects globally. So the world economic crises have been, for the first time, propelled by a health crisis. What can the Left and the revolutionaries in Nigeria make out of this global crises that could leave no island untouched? 

    Naomi Klein, the author of the classic ‘The Shock Doctrine: The Rise of Disaster Capitalism’ has come up to warn that “if you’re a hard-core free-market economist, you understand that when market fails it lends itself to progressive change much more organically, than it does (when) the kind of deregulatory policies emerge. Political and economic elites understand that moment of crises is their chance to push through their wish list of unpopular policies that further polarize wealth…”

    I argue that while the government in Nigeria has reduced the cruelly expensive cost of petrol by just #20, and there is lipservice to building new hospitals, there is a larger probability of massive corruption as the federal government has already declared #2trillion intervention fund. Why we the working people have to very much care is because the same elements who created the crises (whichever ways) would end up profiting largely from the crises. This just as many military officers and politicians are billionaires courtesy the Boko Haram war.

    The interplay of methods of these corruptive accumulations on one hand, and the trajectory of working class resistances is critically assessed weighing up why and how the working people were at the loosing ends at the 2008/9 global economic crises that made the Central Bank under the Soludo/Sanusi bail-outs policies made the criminal banks even richer than before. Though a few bank MDs and top officers were detained on “hospital beds” and such other “ajebutter” prisons; no bank owner was even questioned. 

    The fact that both the US and Nigeria are rich governments that have bad healthcare policies, discussing social infrastructures as class struggle under this system of “primitive accumulation” needs to be knocked up as perspectives to guide millions who want an end to crises and build another world that would be for all and not a tiny thieving few.    

    A CLASSLESS PANDEMIC

    The corona virus has shown that the gap between the rich and the poor is just an artificial creation. The nature of humans is more communal than competitive. Plenty of the rich mouth the fact that we are all equal, but some are more equal than others. This virus is a threat to all and shows that the world can organize together and defeat any virus that attacks it. Crises like this shows that there is no policy that is pro-rich that can save society. Most of the capitalists who rule our world have been saying that government cannot help all and cater for the needs of majority. They tend to tell us that getting “healthcare for all” is rocket science. Corona virus has proved that all that is wrong!

    Meanwhile, many Nigerians are debating as to the cause of corona virus, and why it has drawn more attentions than malaria that kills about 800 everyday and child mortality that murders about 300 women daily. These debates became rife when Ibrahim Magu; head of the Economic Financial Crimes Commission (EFCC) asserted that “corona virus is caused by corruption.” His position, while quite misleading, is correct to the point that the virus is actually caused by the greed of man in unsettling the animal and forest lives. Most of the viruses live in the wildest of forests but humans go in and destroy their habitats. These make the virus homeless and have to migrate to live with humans. 

    The corona virus has also made the Nigerian politicians to have no escapist lives again. Most of them used to go abroad for medical tourism. But there is nowhere to run to now! This is why revolutionaries must use this chance to support striking doctors and demand for free, functionally standard and compulsory healthcare for all. We do not want a situation where the ruling class would use state wealth to build defence and cure for corona virus, only for the rich, instead for all. We must avoid repeating case of the last economic meltdown where what we could see is socialism for the rich and leave the poor uncatered for. This is why we must all reject the paltry #20 that was reduced from oil price as well as condemn the full devaluation of the naira. These policies will make the rich eat their cake and have it. Petrol price should be reduced to at least #45 while naira should be strengthened. The time to consider the #RevolutionNow demands of an “economy for the majority” is now! 

    2008/9: A FLASHBACK 

    When the 2008 global economic meltdown stormed Nigeria, the rulers ordered “technocrats” to adopt the Obama measures in bailing out the banks and their thieving managers. After prosecuting five CEOs of Afribank, Oceanic, Finbank, Intercontinental, and Union bank, The CBN went ahead to put #460bn as bail-outs for the banks after recovering just #70bn. The CEOs lost their posts for giving out #700bn loans without collateral. The loans portfolio of the bank, according to CBN, is #2.8tn. The richest guys in the country were involved in this public racket and were never touched. A good instance is Aliko Dangote who had a loan worth $15m with Oceanic Bank but got elected to replace Ndi OKereke as Nigerian Stock Exchange president. The same person has the monopoly of trading in rice, salt, sugar, textiles, and vegetable oil. The same persons who created the crises in the same place got rewarded after the crises. This is what Naomi Klein is warning about. For the rich, socialism is never good for the majority. The rich, in the time of corona virus and other disasters, want bail-outs but never for the working people. Just as Omoyele Sowore noted; “when crises arises, capitalism retires and socialism becomes the messiah!  

    We must start asking for Cost of Living Allowance (COLA) from the federal government. Every Nigerian must each be paid at least #100,000 monthly as the corona virus effect billing. We should also demand a standard hospital per 5 streets with the doctors and nurses paid appropriately! 

    THE TRUMP/BUHARI DISORDER

    President Buhari’s address to Nigerians has failed to address the pandemic. Trump’s tweets are of the same mental disorders like those of the ministers and officials of Buhari’s government.  Trump boasted that the “virus is under total control…The market will take care of itself,” he had to recant after the Dow Jones Industrial closed with its worst one-day decline since 1987; “The market will be very strong as soon as we get rid of the virus.”

    “But even as he was doing so, Trump maintained that he hadn’t said the virus was “under control,” which is something he has most definitely said on many occasions — along with other attempts to play down fears” CNN noted.

    Garba Shehu and other spokespersons of President Buhari have also been speaking from all sides of their mouths. They first downplayed the effect of the virus by revealing that malaria has been killing hundreds…Until they made some allocations of about $1.2trillion to the virus effects. The question remains the goals of the government. Many Nigerians do not trust the same government that has never given as much as 8% budgetary allocation to healthcare since the Buhari regime came into place, just like the PDP governments before it. While the president is one of the most sick, he prefers to betray electoral promises and visit private hospitals in the UK for months instead of building standard public health care. 

    Working people in US,UK, and Nigeria should look beyond their reactionary rulers and make real political demands that will make sure the same rogues who cause the crises don’t come back to claim to be the super heroes of the same crises. The case of Ebola and Lassa in Nigeria are classics in this regard. While Nigeria was lucky to get over the Ebola case with the sacrifice of health officials; Lassa fever has killed thousands so far loosely tackled because rodents most likely cannot enter luxury houses.

    Nigerians should be aware that both Buhari and Trump are exponents of crazy capitalism and prefers to give false answers to real threats and would only be falsely apologetic later. We must understand that the rulers are neither interested in our well being nor our future. Their fear is that the virus should never become for all. They prefer crises for just the masses. But oga corona no mind. This is why despite Trump trying to call it Chinese virus or Buhari trying to boycott addressing the country, nothing matters to the working people than having a healthy society. Arms in arms, we will have to care for one another and defeat the most dangerous virus ever in the history of the world! 

    OPIUMS ON THE CROSS

    Pastors in Nigeria, aside the ban on public and mass gatherings, are seriously on trial! Many a youths are asking what their “God” would do in this time of corona virus to save the followers from untimely deaths. The first pastor to become so fearless had predicted that he would go to China to cure the virus. But by the time the Italian became the first case in view; the pastor got admitted in a hospital for unknown reasons.

    Also, the mosques are closing shop. Even many are contemplating drinking alcohol to help in preventing corona virus. Despite the fact that many a churches and mosques become well attended public places, the belief in better life and a prosperous world without danger have been the egg tacts around the building of these beliefs. Saudi Arabia has stopped religious visitations. Government everywhere is banning all worshipping junctures. If these bans have been summoned by political demands of the left, it couldn’t have sailed through but the struggle is being marshaled by a pandemic. Bernie Sanders was seen as too extreme but most of those pro-establishment strollers must be shitting in their yanshes now!

    Karl Marx was very clear that “religion is the opium of the masses, the soul of the soulless.” The realizations of the fact that the immediacy of the problems of society can only be derailed if the people think that there is an umbrella or belief that can make some magic. With corona now, even the state that employs religion is not apologetic in banning its public activities. Sadly, many priests still in shock as to a possible demarketing have kept on lying to their congregations. A viral video shows a pastor saying “coronavirus cannot enter Nigeria where there is corrosive anointing;” so cocky in ignorance.  Such public ranting must be condemned.

    CONFUSION BREAK BONE; NAIJA HEALTH IN CRISES

    When the deposed emir of Kano, former CBN governor Sanusi Lamido Sanusi, was banned to Awe in Nassarawa State; the town has two (2) doctors to two hundred thousand (200,000) people. Such is the metaphor of health care in Nigeria.  Most doctors, nurses, and other medical personnel have migrated to other climes in an unprecedented brain drain. As Yusuf posited “7 out of 10 Nigerians live on less than $1.25 (~500 Naira) a day and they also live in a country where 70% of health expenditures are out-of-pocket payments. Nineteen years after the Abuja Declaration where African Union states pledged to allocate at least 15% of their annual budget to health, Nigeria continues to default. With over 23,584 public primary health care facilities, 8,290 private primary health care facilities and 200,000 patent and proprietary medicine vendors (PPMVs) in Nigeria, yet the country’s health indices and other health indicators continue to remain abysmal without any significant improvement compared to other countries in Sub-Saharan Africa.

    Citizens are condemned to self-care using several unregulated drugs and African raw herbs. The yearly allocations to health care in the budget never rise beyond 6 and 8%. This is despite the fact that Aisha, wife of President Buhari once publicly complained that Aso rock clinic has no syringe! At the Teaching hospitals, one has to pay heavily to get health care as the state has been practicing health care commercialization. The medical equipments are really not there while there are so poor remunerations of medical personnel. Yet, when Ebola came knocking in 2014, the health workers paid the sacrifices. 

    Corona virus is global and has now halted the medical tourism of the rich class of whom President Buhari is the chief. If not for Covid-19, he would have gone visiting his London doctors for the umpteenth time!  

    The health workers’ unions have been fighting for a better system for years. This has been led by the Joint Health Staffs Union (JOHESU) and the Nigeria Medical Associations (NMA.) JOHESU has led enormous strikes and pickets but the neo-liberal policies of the ruling class keep ignoring these strikes. As I write, doctors in Abuja are on strike. The rulers are now in a quagmire. This is the time for the unions to collaborate with the civil society and revolutionary movements to take up the state and fight for “free health care for all.”

    THE EXAMPLE OF CUBA

    Fidel Castro’s people are the certified global doctors today! 

    A small island at the backyard of the United States of North America; Cuba is a state-capitalist economy led by revolutionary socialists. While the state have yet boomed since 1959 as a result of the prevailing capitalist globe, it has been vociferous on social welfarism especially education, food, health, and housing. This has been the minimum with which the Communist Party has been working on since the revolution. With its third president in charge now; Cuba is the country that is now rescuing the world from the genocide of corona virus. The vessel that is wholly affected by the virus has been shipped to the Cuban shore and Cuba has been treating the patients on board. Italy is receiving about 200 Cuban doctors and nurses as the catholic country leads the population of casualties. The Cuban health statistics shows that 98% is living healthily just as education is 98.5%. 

    Cuba stood by the world on hurricane Katrina; by South Africa against apartheid; by Angola against imperialist Portugal, and now that “God-forsaken communist country” stands by the world with the best of its great medical care against corona virus. This is a lesson that we need to abide by and make the world a socialist island. The current system of “greed and power” is a pandemic. It is ruled by political viruses that live mainly on primitive accumulations of the sweat and blood of the majority. The working class of all lands should unite and fight capitalism to the ruins and replace it with a world led by the people who make the wealth, not those who do nothing but steal the wealth.  

    IN ALL; THIS PANDEMIC WILL FALL

    The struggle for a safer world is in danger of that “common ruins of the contending classes.” Italy, Nigeria, Spain, China, US, and some others have recorded deaths through corona virus. It is currently rumoured that some senators and members of the House of Representatives have contracted the deadly virus. We have 582 deaths in US and 46,145 cases with only 295 recoveries. One death has been recorded in Nigeria with 46 cases recorded. 6,777 are dead out of 63,927 cases in Italy. China has 16,578 dead in 382,570 incidents. Germany has 29,056 with 123 people dead. German chancellor, Angela Merkel has been quarantined. India with over 1 billion population has about 500 cases with no deaths. 

    The Indian case is very peculiar in lessons for Nigeria. Public health care in all tiers is free and subsidized for those below the poverty line. The Indian health sector encompasses 18% of total outpatient care and 44% of total impatient care. Middle and upper class use public health care less than those with a lower standard of living

    The Covid19 pandemic has exposed big countries like Britain, US, China, Nigeria, and others. The pandemic have also exposed capitalism as an idea that is deficient to the mass of working people. The idea does not care for the majority but the thieving minority. The rich continue to be richer while the poor becomes poorer. We need labour and civil society to work together and reconstitute revolutionary relationships to make sure that working people does not be at the receiving end of this pandemic. We must remember that those who destroy the country must not be allowed to continue with their madness after the covid19. We must demand for #FreeHealthCareForAll!

    We must also demand that world-class hospitals are built massively all over the country and we leave the madness of neo-liberalism in the dustbin of ruins. To do these works, we need a movement of the working people dedicated to the revolution that will build a country for all like the Take It Back movement and the Coalition for Revolution (CORE). Socialist organizations like the Socialist Workers and Youth League (SWL) serve as the political tribunes that remind us all on the ideal and alternatives to the rot that is causing pandemics and wars to the world today.

    Capitalist presidents that combine neo-liberalism and fascism are in deep shit today as the covid19 has exposed their inefficiencies and monumental social infrastructural dangers. The health of the world is the safety net to our wealth. Why would we allow those who care about the wealth alone to continue to rule us? Why should we continue to allow those who think of only the individual and never the collective to continue to rule us? When Greta Thunberg was leading the climate change campaigns, Donald Trump was scolding her. Bernie Sanders, Jeremyn Corbyn, Omoyele Sowore, Elvo Morales, Bobbi Wine and other revolutionary change-seeking eggheads have all campaigned for another world; the point is for we the working people and all oppressed, in unity and action, lead #RevolutionNow to get a life warranty of #FreeHealthCareForAll!

    Nigerians should demand for Cost of living allowance (COLA) of at least #100,000 in order to survive as the country is being locked down. We all must observe hand washing regularly; social distancing; avoid touching of faces, and other sophisticated parts of the body. Government should provide water, gloves and hands sanitizers to all. There is no electricity just as there is very poor housing for the majority of the people. We need the majority of empty house in cities and towns to be massively redistributed. Electricity must be renationalized.

    With all unity and actions, we will defeat the yet another genocidal virus. This also tells us that we must choose to build the world for all and not for the few as the threat of grand barbarism stares us all in the face once again. Rosa Luxembourg would be rolling and smiling in her grave as we are condemned to learn from her battle cry: “socialism or barbarism!” 

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  • Virus-hit Air New Zealand offered US$515 mn bailout

    Virus-hit Air New Zealand offered US$515 mn bailout

    The government in Wellington on Friday announced an NZ$900 million (US$515 million) loan deal with Air New Zealand to help the flag carrier survive the coronavirus crisis.

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  • PTPTN defers loan repayments until June 30

    PTPTN defers loan repayments until June 30

    PTPTN defers loan repayments until June 30 3

    KUALA LUMPUR: The government has agreed to defer National Higher Education Fund Corporation (PTPTN) loan repayments with immediate effect until June 30.

    PTPTN in a statement today said the postponement was made in light of the Covid-19 outbreak, and is expected to benefit 1.5 million borrowers with total collection of RM375 million over the three-month deferment period.

    “PTPTN is always concerned and sensitive of the welfare of borrowers,” the statement added.

    For further information, PTPTN borrowers can contact corporation’s Careline at 03-21933000 which operates from 9am to 5pm, Monday to Friday.

    More information can be obtained on its official website at www.ptptn.gov.my.

    Earlier, after chairing the Special Ministerial Committee on the Movement Control Order (MCO), Senior Minister Ismail Sabri Yaakob, who is also the Defence Minister said PTPTN had agreed to suspend loan repayments for the time being. – Bernama

    PTPTN defers loan repayments until June 30
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  • How do we remove biases in AI systems? Start by teaching them selective amnesia

    How do we remove biases in AI systems? Start by teaching them selective amnesia

    Imagine if the next time you apply for a loan, a computer algorithm determines you need to pay a higher rate based primarily on your race, gender or zip code.

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  • Three Reasons Why Money Was The Worst Invention Of All Time

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    Who invented money? Ask any number of people and they couldn’t tell you who it was that actually invented money or where the idea came from. History has given us some bad ideas, but money has to be the worst and here are my top three reasons why.

    1. Something Invented By Man Should Not Have Power Over Him.

      If I think really hard and try to imagine a time without money, before it was invented and used on a daily basis, I tend to imagine that the world was a completely different place. People most likely had a barter type society where goods and services were exchanged and that is how one survived. If I had a particular skill, say hunting, and you were hungry you could come to me for food. The idea would be that if you could make fire, and I could provide the food, then we could exchange our skills or abilities and everyone got what was good for them. I assume, for the sake of argument, that if someone possessed absolutely no skills whatsoever, that person was still allowed to eat. I can’t imagine that I would loan the helpless soul some meat, only if it could be paid back somehow. Before helpless soul could blink, he might owe me for five dinners and then I have to send out the collection agents to call in his debts. Money provides control, in both a positive and negative control. Although it is man made, and essentially just a piece of paper or a mixture of cheap metals, money has power, and is power. I can just imagine Mr. Helpless Soul explaining to his wife that he can’t repay the hunter and doesn’t know what to do. So Mr. Hunter decides to enslave the Helpless Soul family until the debt is repaid. It is unfathomable to me that so many people in my country, and the world go hungry every day. Those who possess the money have the power to deny the needs of those that don’t have means. Where have the humanitarians gone? I’ve seen a business owner kick out a person who was homeless and starving, and then half an hour later deal with a complaining customer as he shouted that his food was not hot enough. Money only has the power that we give it. If we choose to see it as just a means to an end, or just some silly paper we have been told to obey our whole lives, then one can focus on what really matters. I am not advocating not paying debts, or shucking responsibilities. This is the world we live in, and norms must be followed…until the laws change again to suit what the politicians want on any particular whim of a day.

    2. Money Shifts Focus From Helping One Another To Arbitrary “Worth” Of Mere Things.

      Why should I do anything to help anyone else, unless they can pay for it? If my entire focus in life is to obtain material things, then I should only be motivated by money, or obtaining it, to do anything. What is anything really worth? Marketing companies have defined worth for me since I was a child, and it was beaten into me during commercial breaks of GI Joe. What is the value of all of the things you want in comparison to something that really matters? Imagine what the worth is of spending one more hour with a loved one before they pass away and are gone forever. The worth of teaching your children that there is more to life than money and obtaining things. The worth of feeding a homeless man, and helping him have at least one night’s sleep where his stomach doesn’t keep him awake. The value of reaching out a hand and helping someone else in this world is worth more than the largest diamond, the heaviest gold, and the purest oil. Now, I am the biggest hypocrite on this topic, because I love things! It has been programmed in me for so long, it is hard to shake the desire to obtain things. Imagine a life in which people helped each other because it is the right thing to do, and not just for what they could get in return. The argument is, well, that things can’t just be free. You have to pay something to get something. How would the world work if everyone was just giving away everything for free and everyone just had everything they needed and didn’t have to be slave to credit card companies anymore or to a job that they dislike? How would we survive? My answer to those questions is, famously! I would be free to learn a trade that benefits others and could use that ability to provide for my family and to help others. I have wanted to help by donating or giving my entire life, but never had the means. I’ve donated a little time here and there, and not near as much as I should or would have liked to, but at least it was something. But because I like things, and those things have cost me money, I have to continue in my job, and repeat the same cycle my father did.

    3. Money Makes You Question If People Really Care About You, Or Just Your Money.

      I try to envision the end of my life surrounded by those that have made my journey with me, who love and care for me because of the enrichment I gave to them through my friendship and dedication. In my latter years, enjoying my days with my wife, and talking to my grown children and my grand children. I want to soak up every single minute of my life between here and there. I want to feel and love and enjoy all that there is to offer. I have seen families destroyed, fighting over the money left behind after a loved one passes. Some of those grudges are held for the rest of their lives. They lose a relationship and also a loved one, and the only thing they can think about, is how much money they will be getting. More than likely, Mr. Entitlement as we will call him, won’t even miss the loved one that was lost. How many brilliant individuals never get the chance to succeed because of lack of means, and how many elite are given free passes because their pile of paper is bigger than yours. Do the people closest to you care about you or your money? Does the girlfriend only love you because of what you can buy her? Do your children only listen to you in order to get something they want? Take the money away, and would they abandon you? Such a great idea, this money.

    My answer to all of this is that I don’t have an answer. My two year old daughter asked me about money and loves putting money in her piggy bank. It made me start to consider all the reasons I worry about money, and fight about money, and read books about money. Nothing like the honesty of a child, to make you sit and think.

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    Source by Mitchell Pierce

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  • Student Loan Debt Clock Is Ticking Away At 1.57 Trillion Dollars On Election Day 2016

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    The academic bubble is ready to burst, all the while academics in their infinite wisdom tell us they know best how to run our society and civilization – don’t you find that odd? It seems they haven’t gotten their own house in order, and yet, want our entire country to run like a giant college campus – interesting indeed. These same academics want to tell us how to vote, re-distribute wealth, and how to think – well, I think their day of reckoning is right around the corner – and I fear what’s to come will not be pretty. No, I don’t want to be the one to say; “I told you so.” Surely, there are others with more social media followers who see the reality of the situation to spread that in-your-face slap when the time comes. Okay so, let’s talk shall we?

    40% of the student loans are in technical default (90-days in the rears with no further agreement to catch up on payments). That is 583 Billion Dollars in defaulted loans that we may never see payment of. Trust me when I tell you that the College Loan Bubble has burst and is extreme crisis. Why is this allowed to continue? Well, if it stops it will collapse academia, become a huge problem for our Federal Government, add over 1/2 Trillion to our $20 Trillion National Debt, and cause the angst of millennials who the Democrats have all but promised “Free College For All” during the 2016 Presidential Election.

    Still, by the time the election is over the Student Loan debt will be 1.57 Trillion Dollars, even though the official figures claim it only 1.2 Trillion which was actually the figure before the start of the 2015 Academic Year.

    If you don’t see the enormity of the problem, let’s talk about the auto industry right now. It turns out that the number of “Subprime” auto loan defaults are at another all-time high of 4.5% – Subprime meaning loans made to those without proof of ability to pay or marginal credit ratings, perhaps coming from low-socioeconomic borrowers. Last time this happened the auto industry crashed and needed a big bailout, and we are reaching those same numbers now – and realize this is only 4.5% not 40-50% like the student loan problem.

    Scared Yet? Well, it is Halloween 2016 today, and I am, and no, there won’t be any good witches flying in on their brooms to win the next election to use hocus pocus to make this problem go away – indeed, both presidential candidates are likely to see the auto loan problem get worse, as well as the student loan debt problem – not to mention our stock market breaking all-time highs with PE Ratios and major stock market indices records.

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    Source by Lance Winslow

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  • An Unusual Way to Get Rich – Create a Flea Market Small-Business Empire With Wholesale Products

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    FACT: Many people earn $1,000 per day (that’s $104,000 per year) just selling at flea markets and swap meets on weekends. (I’ve actually made more than that on some days.) Most people think we are just a bunch of poor folks trying to make an extra dollar, and that’s exactly what we want them to think.

    What do we know that you don’t? What are our secrets? Can you do it?

    Yes. Anyone can sell at flea markets and become wealthy…and I’m going to tell you exactly how right here.

    Becoming a flea market vendor is easy and affordable. Your expenses will be the cost of your merchandise and space rent. Daily rent for an outside space can be as little as $5-$10 per day. Many people begin by selling used items and move into selling brand new items purchased from wholesale companies. New items outsell used items two to one and have a higher profit ratio.

    Most people already have a table or two they can bring with them. I actually began my flea market and swap meet business with only $200 and a couple card tables I borrowed. I now earn thousands of dollars every month without fail. (Of course, the more money you have to buy merchandise, the faster your new business will grow.)

    The key is to let your new business grow. Don’t kill it by taking all the profits out of it! I suggest that you have a job or another source of income to cover your living expenses for at least the first six months after starting your new business.

    There’s an old adage in this business: ‘The more you have, the more you’ll sell.’ Believe me, it is true! Take that to heart and put all of your profits into buying more merchandise, so you’ll have even more to sell the next weekend.

    Who do you think most shoppers will go to, the guy sitting there with four items on a single card table or three spaces across the aisle from him literally loaded with millions of different items? If you think you have enough merchandise, you don’t.

    If you use your profits to build your business and buy more merchandise every week it won’t be more than a few months before your sales rapidly increase and you can begin keeping some of the profits for yourself without killing it.

    If you live in a northern climate that is cold in winter or a southern climate that is hot and humid during summer, you might consider renting a space inside a flea market building. Yes, your space rent will go up a bit, but you’ll have the advantage of heat and air conditioning (comfortable shoppers spend more money), as well as a secure enclosure for your tables and merchandise during the week when the market is closed.

    Once your first small business is running well, use the profits from it to open a second small business at the same flea market or swap meet, selling a different type of merchandise. Expanding is as simple as renting another space and hiring someone to run it for you. Again, your costs will only be merchandise and space rent and whatever you pay your help. (Be good to them and they will be very good to you.) Just as with your first business, put the profits back into your second business and allow it to build.

    The profits from two small businesses will allow you to open a third small business with ease. Do the same as you did before and allow your third business to grow. Put the money back into it by purchasing more merchandise.

    Then open a fourth, a fifth, a sixth small business at the same flea market. It’s not only possible but almost guaranteed that if you will do that you will create your own small business empire in less than one year and have a yearly income in excess of $100,000 after expenses.

    If you just put the profit back into your first new business, it will grow without another penny out of your pocket. The profits will allow you to open a second, a third and so on. You don’t need a small business loan to get started.

    Plus, you are not limited to just one flea market or swap meet. There may be other markets within 20 or 30 miles of you, where you can do the very same thing and multiply your earnings.

    If you follow this simple yet effective formula it won’t be long before you can stop selling at flea markets yourself and just become a manager, overseeing your small business empire and stepping in to give your employees breaks.

    Once you are making a very good income, consider other ways to invest your money to make even more profit, such as opening your own wholesale house and selling merchandise to flea market vendors and make even more.

    Flea markets and swap meets are an excellent venue in which the average person may start their own small business and become wealthy by creating a small business empire.

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    Source by Allen Farlow

    Views: 0

  • Debt Cure$ – Book Review

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    By: Kevin Trudeau (2008)

    ISBN 978-0-9798258-1-1

    Book Price: $25.95

    Exposing the greatest rip off

    Kevin Trudeau is one of the leading consumer advocates in America today. His mission is to expose the greed that has taken over corporate America. Kevin is a bestselling author who has sold over 15 Million books. He is blowing the lid off the banking and credit card industry, and exposing the greatest rip off in USA’s history!

    Eliminate debt

    Kevin Trudeau presents 26 chapters helping readers to eliminate debt. He discusses, negotiation (Ch. 5), reducing interest rates (Ch. 6), turning from bankruptcy (Ch. 15), stopping debt collectors from harassing you (Ch. 20), achieving wealth (Ch. 21), rebuilding credit (Ch. 22), free money (Ch. 24), more free money (Ch. 24.5), & more!

    Reducing debt’s hold

    Kevin Trudeau is clinical, precise and personable in this revealing book. He presents, “The practices of the industry are designed to make sure you are late on your monthly payments, to make sure you go over the limit on your credit cards, and to make sure that the enormous fees and incredibly high interest rates continue to go up and up.”

    Mr. Trudeau points to cultural keys for debt in society, declaring, “People turn to their credit cards when they are in crisis mode, to simply help them get by… We are a convenience-oriented society, and credit cards are convenient.”

    Kevin releases simple, practical steps for reeling in debt. He explains, “The absolute worse thing for you to do about your debt is to do nothing… You need to know your current situation in order to move forward… a balance sheet is a financial snapshot that shows your current financial health… what you made and what you spent… “

    Encouraging words release motivation for readers. Trudeau states, “When you take control of your financial health, every area of your life improves. You can sleep better… you feel less stressed… not so tense… “

    Concise data reveals powerful solutions. Kevin expresses, “Even as little as $15 every two weeks applied to your mortgage can cut one and a half years off!” And “The banks and the lenders do not want us to know that we can reduce our payments, reduce our interest, and reduce the life of the loan.” All of this information is available here.

    Breaking free from the financial industry

    Kevin Trudeau successfully provides a powerful tool for helping readers break free from the financial industry.

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    Source by Dr. Steven J. Lynne

    Views: 0

  • Fast Business Loans – 3 Strategies to the Right Choice

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    Entrepreneurs and business people alike are finding themselves in need of a fast business loan to help shore up working capital as the economy continues to falter. While a loan at a commercial bank may be an option for some, there are a number of factors that prohibit businesses from going this direction for their capital funding needs. Chief among them is the low approval rate and lengthy application process. While these loans may have the best rates and terms, many businesses find themselves with urgent capital needs.

    Consequently, many lenders have entered the marketplace that purport to be “fast business loans”. It is important that all business owners take a very sober and honest appraisal of these types of loans in order to make a decision that will positively affect the outcome of their business.

    1.)Read the Fine Print- Any lender that is claiming to offer “instant business loans” should be viewed with skepticism. Most of these lenders may be traditional “payday” type lenders or signature loan lenders that are trying to capture some of the business market. Usually the loan amounts are very small, often under $5000, and the interest rates and fees may be exorbitant. Never pay a fee upfront to apply for any loan, online or off.

    2.)What is the Loan Purpose?– It may seem obvious, but any business looking for a quick business loan may not be actually considering this question other than “paying a past due bill” or something like that. If the loan is not being used to generate additional revenue, or consolidate bills that will open up additional cash flow, a business person should strongly consider against it, even if they do have an over due bill. Moving debt from one lender to another, often at higher interest rates is a dangerous shell game for any business.

    3.)What is the interest/factor rate?– This one simple fact usually holds up in all forms of lending. The faster you get the money, the more you are going to pay for it. The reason is simple. True dedicated underwriting which helps a lender understand their risk and set the interest rate for the loan accordingly requires documents from the prospective borrower. If a lender is going to forgo this and underwrite the loan purely on electronically available means, it usually means you will be paying a very high interest rate to compensate the lender for this additional risk. Luckily there are options now that can get loan fundings to business owners in 7 to 10 days without paying extremely high interest rates.

    The bottom line for a those seeking fast business loans is, do not let your sense of urgency override good judgment and common sense. Take the time to understand all the terms correctly, and keep asking questions until you get an answer. The consequences may be disastrous for your business and business lenders do not necessarily have your best interest in mind.

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    Source by Neal Coxworth

    Views: 0