Posts Tagged ‘million’

“As the Financial Times reported yesterday, more than 1 million U.S. consumers are ‘at least two months behind on car loan repayments,’ noting that the delinquency rate in the $1.1 trillion market hit its highest level since 2009. And that’s not just limited to subprime borrowers. That figure includes everyone with a U.S. car loan….

The financial Times also cites, ‘Delinquencies on credit cards also rose by about the same amount over the period to 1.79% – the highest since 2011. The rise in bad loans comes despite persistently low borrowing costs and unemployment levels – suggesting lenders may be letting consumers take on bigger debt burdens than they can handle.

Lending to consumers with weak credit scores has been one of the fastest-growing parts of the industry. Still, the increased delinquency levels follow a period of rapid expansion and could be a natural consequence of that growth. Separate figures published on Thursday by the New York Federal Reserve showed the total amount of debt held by American households rose last year at the fastest clip since 2007.'” -Porter Stansberry

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“First, the world is changing.  It’s not a good thing or a bad thing.  But your life is going to change with it.  94% of the 15 million jobs created in the past eight years are either part-time or freelance.  The job landscape is changing.  Corporatism, which ruled the world for 100 years, is ending.  Technology and necessity have taken each industry, destroyed it, and then created 1,000 new and different ways to succeed in it.  Understanding what is new in the world is the LAST step in reinvention though.

Every day we are reinventing.  A river doesn’t stay still.  Every time you step into it, it’s a different river.  You and I are that river.  We either move forward or we freeze like ice.” -James Altucher

Penny Power

Posted: January 9, 2016 in Money Matters
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“If you start with a penny and double it every day for a month, you will end up with more than $10 million.  That is the power of compound interest….  People don’t get it.  They don’t realize the power of compounding.” -Steve Sjuggerud

When it comes to making decisions about where you put your money, or how you spend your money, James Altucher say to “ALWAYS question the trillion-dollar industries that are paying millions to fool you.”

“What really happens is the financial industry borrows funds at a rate of interest near zero to make mortgage loans. Aided and abetted by Fannie Mae, it is now landlord to 44 million Americans. The poor “homeowner” is turned into a mortgage slave. He is stuck for life – or longer – making payments on a house that cost the financial industry nothing.” -Bill Bonner

“Beautiful credit!  The foundation of modern society…. which puts into the mouth of a distinguished speculator in lands and mines this remark: — I wasn’t worth a cent two years ago, and now I owe two millions of dollars.” -Mark Twain

Losing Days

Posted: April 27, 2013 in Thought for the Day
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“There are a million ways to lose a work day, but not even a single way to get one back.”  -Tom DeMarco and Timothy Lister