Posts Tagged ‘fees’

75 Ways That The Government And The Financial Elite Will Be Sucking Even More Of The Life Blood Out Of The American People In 2011

75 Ways That The Government And The Financial Elite Will Be Sucking Even More Of The Life Blood Out Of The American People In 2011

Courtesy of Michael Snyder at Economic Collapse

The American people are experiencing financial death by a thousand cuts and most of them don’t even realize it.  The U.S. government, state governments, local governments and the financial elite are draining us financially in dozens upon dozens of different ways, and yet we have become so programmed to accept it that it just seems normal to us.  2011 is rapidly approaching, and a whole slate of federal taxes is scheduled to go up, state taxes are being increased from coast to coast, local governments are finding new and creative ways to stick it to us and the financial elite are becoming more predatory than ever. 

Meanwhile, the incomes of many average Americans are actually going down.  According to the Census Bureau’s annual survey of income and poverty in the United States, of the 52 largest metro areas in the nation, only the city of San Antonio did not see a decline in median household income during 2009.  Tens of millions of Americans are flat broke and they are getting pissed off.  According to a new poll conducted by CNBC, 92 percent of Americans believe that the U.S. economy is either "fair" or "poor".  The American people desperately want someone to fix the economy, but instead our "leaders" are trying to come up with new and creative ways to drain even more money out of us.

In no particular order, the following are 75 ways that the U.S. government, state governments, local governments and the financial elite will be sucking even more of the life blood out of the American people in 2011….

#1 State governments across the U.S. are raising fees and taxes in so many different ways it is staggering.  A reader named Richard recently sent me an email in which he described the shock that he experienced when he recently received his license plate renewal notice in the mail….

I just got a license plate renewal notice from the Oregon Department of Motor Vehicles. When I opened the envelope and saw the amount of the renewal, I was shocked. The amount seemed much higher than usual.

I have a computerized record of all my financial transactions over the last many years. I looked up previous DMV license plate renewals and I saw


continue reading


Tags: , , , , , , , , , , , , , , ,




Goodbye, Free Checking?

Goodbye, Free Checking?

Courtesy of Jr. Deputy Accountant 

pic credit: alist via Flickr

As some of you already know, I'm a pretty content Chase customer. I don't care what Jamie Dimon does in his downtime or which government is suing them over shady investment practices this week, all I know is my money's safe and they never screw with me. EVER. I know what you're thinking: "But JDA! They're evil!" Sure they're evil but they're also the guys who own the Fed so who do you think will have money when everything goes terribly awry? The guys who own the Fed, duh. Am I promoting Chase's bad behavior by entrusting them with my deposits? Please, we're talking pennies to their bazillions. They aren't looking to the starving writer to fund their misadventures, they've got the Dirty Fed and free money for that.

I managed to avoid banking completely for nearly 5 years. It's not easy and you end up losing quite a bit in time and effort to trot across town cashing your paychecks at whichever bank they are drawn on (that's usually free, something most Western Union check-cashers don't realize) and my paycard (direct deposit to a MasterCard) ended up costing me $1.50 every time I withdrew money and $.50 for each POS transaction. Not good. I gave up quite a few pumpkin spice lattes in fees just so I could say I was bank-free.

Of course I realized that this was just stubbornness on my part and gave in to Chase's promise of $150 to open an account. It's been several months now and I still have no major issues to report except for initially opening the account online and never getting my account number via mail. Online banking is convenient, Chase has completely taken over so ATMs are everywhere and they generally process transactions quickly. All good. Sure they have their Overdraft Nazi standing outside of the branch trying to catch me at the ATM and ask if I've made a decision on overdraft protection ("No thanks I've already declined it. Twice.") but other than that, I'm happy.

continue reading


Tags: , , , ,




How Will the Credit Card Act Affect Me?

How Will the Credit Card Act Affect Me?

credit cards, timeCourtesy of TIME 

Have you ever seen your credit card’s interest rate be jacked up, out of the blue, for no apparent reason? You’re not alone, and a new law hopes to cut down on such unsavory practices. The Credit Card Accountability, Responsibility and Disclosure Act, signed by President Obama in May 2009, went into effect last fall. Many of the provisions, however, are finally taking hold on Monday, Feb. 22. This latest step in a three-part rollout will continue the Obama Administration’s quest to eliminate predatory lending by banks and make the overall process of using and paying off credit cards much more transparent — and far less perilous for individual credit histories. 

Among other changes, the new law will:

• Require credit-card companies to tell customers when they plan to increase rates or other fees.

• Mandate standard payment dates and times, to keep companies from tripping you up into late charges by moving your due date.

• Limit fees such as charges for exceeding your credit limit or paying your bills online or over the phone.

• Mandate that monthly statements clearly show how long it would take to pay off your balance by paying the minimum due each month.

• Curb interest-rate hikes by prohibiting credit-card companies from retroactively raising rates on existing balances until the customer is 60 days behind on payments.

• Forbid credit-card companies from automatically enrolling customers in often pricey programs that offer the option to charge beyond the credit limit.

• Crack down on marketing campaigns targeting college students and other young adults, requiring anyone under age 21 who wants a credit card to either demonstrate the means to pay the debt alone or get an adult to cosign on the account. 

• Ban the practice of double-cycle billing, in which your creditor uses your average balance over the current and previous billing cycles rather than the previous one — a trick that can wind up costing you a pretty penny. 


Tags: , , ,




 
 
 

Phil's Favorites

New Report Reveals Goldman Sachs' Crime Wave Under Last Three CEOs (Who Got Obscenely Rich in the Process)

Courtesy of Pam Martens

(Left to right) Three Most Recent CEOs of Goldman Sachs: Henry (Hank) Paulson; Lloyd Blankfein; David Solomon, Current CEO.

Yesterday, the nonprofit Wall Street watchdog, Better Markets, released an in-depth and scathing analysis of the past 20 years at Goldman Sachs. A bold headline summed it up as follows: “$874 Billion in Bailouts, 36 Major Legal Actions,
$9.8 Billion in Fines and Settlements with Billions More Coming.”
...



more from Ilene

Zero Hedge

American & Chinese Airlines May Never Bounce Back From The Coronavirus Outbreak

Courtesy of ZeroHedge View original post here.

Airlines around the world have already taken a hit thanks to Boeing, now the coronavirus outbreak is set to kick the industry while it's already down. And the US and China will be hit especially hard.

Plenty of countries are cutting off are limiting flights to China right now. Air Canada just announced its cancelling select flights, South Korea, Hong Kong and other Asian countries have either cut off travel, or are reducing flights and screening for symptoms of nCoV,...



more from Tyler

Kimble Charting Solutions

Will Junk Bonds Continue To Send A Positive Message To Stocks?

Courtesy of Chris Kimble

If the saying “So goes Junk Bonds, So goes stocks” is true, what Junk bonds do in the next couple of weeks could send an important message to stocks!

Junk bond ETF (JNK) has created a series of higher lows since June of last year. When JNK moves higher like this, historically it sends a positive message to stocks.

JNK has declined a very small percentage in the past two weeks, which has it testing rising support at (1).

So far JNK is not sending a negative divergence to stocks.

If JNK holds at support and rallies off (1), they continue to send a ...



more from Kimble C.S.

Insider Scoop

A Peek Into The Markets: US Stock Futures Up; Fed Decision In Focus

Courtesy of Benzinga

Pre-open movers

U.S. stock futures traded higher in early pre-market trade, ahead of earnings from McDonald's Corporation (NYSE: MCD), General Electric Company (NYSE: GE), AT&T Inc. (NYSE: T) and Th...



http://www.insidercow.com/ more from Insider

Biotech

When will there be a coronavirus vaccine? 5 questions answered

Reminder: We are available to chat with Members, comments are found below each post.

 

When will there be a coronavirus vaccine? 5 questions answered

A security guard wears a mask as she keeps watch at arriving passengers at Manila’s international airport in the Philippines on Jan. 23, 2020, as part of efforts to contain the coronavirus. Aaron Favila/AP Photo

Courtesy of Aubree Gordon, University of Michigan and Florian Krammer, ...



more from Biotech

Chart School

Top Patterns for Retail Investors

Courtesy of Read the Ticker

Retail investors are last in line for market leading research, no matter, the retail investor can profit from these secret sauce patterns..

Well not so secret now, the main point is you do not have to climb Mount Everest to be called a mountain climber, there are many other hills to climb to make your mark. Just like stocks.

You do not have to battle with the high frequency traders to win in the markets, there are long and slow methods to do just as well.  

More from RTT Tv







Some charts from the video


...

more from Chart School

The Technical Traders

The Wuhan Wipeout - Could It Happen?

Courtesy of Technical Traders

News is traveling fast about the Corona Virus that originated in Wuhan, China. Two new confirmed cases in the US, one in Europe and hundreds in China. As we learn more about thispotential pandemic outbreak, we are learning that China did very little to contain this problem from the start. Now, quarantining two cities and trying to control the potential
outbreak, may become a futile effort.

In most of Asia, the Chinese New Year is already in full swing.  Hong Kong, China, Singapore, Malaysia, India and a host of other countries are already starting to celebrate the 7 to 10 day long New Year.  Millions of people have already traveled hundreds of thousands of miles to visit family...



more from Tech. Traders

Members' Corner

The War on All Fact People

 

David Brin shares an excerpt from his new book on the relentless war against democracy and how we can fight back. You can also read the first, second and final chapters of Polemical Judo at David's blog Contrary Brin.

The War on All Fact People 

Excerpted from David Brin's new book, the beginning of chapter 5, Polemical Judo: Memes...



more from Our Members

Lee's Free Thinking

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

 

Why Blaming the Repo Market is Like Blaming the Australian Bush Fires

Courtesy of  

The repo market problem isn’t the problem. It’s a sideshow, a diversion, and a joke. It’s a symptom of the problem.

Today, I got a note from Liquidity Trader subscriber David, a professional investor, and it got me to thinking. Here’s what David wrote:

Lee,

The ‘experts’ I hear from keep saying that once 300B more in reserves have ...



more from Lee

Digital Currencies

Cryptos Have Surged Since Soleimani Death, Bitcoin Tops $8,000

Courtesy of ZeroHedge View original post here.

Bitcoin is up over 15% since the assassination of Iran General Soleimani...

Source: Bloomberg

...topping $8,000 for the first time since before Thanksgiving...

Source: Bloomberg

Testing its key 100-day moving-average for the first time since October...

...



more from Bitcoin

Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

more from M.T.M.

Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

more from Promotions





About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>