My Loans Consolidated

Obama’s bill to overhaul federal student lending and channel about $80 billion in savings for education initiatives has stalled in the Senate. After 4 months of sailing through the White House, it is now stuck there. Last Wednesday, Obama tried to address this and exhorted the Senate to finally pass the bill. He is convinced that this will revitalize community colleges and make colleges more affordable. However, Republican minority opposes this bill and sharp questions from some Democrats and the Democratic majority has now put it on hold.

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Popularity: 1% [?]

It is still amazing to see how there are still a lot of professionals who are not yet willing to admit that we have been in a depression for the past year. But if we understand the position that many of those professionals are in, you will be able to see why the American people are constantly being lied that the US is on the verge of economic recovery. Economic analysts and other professionals work for corporations, insurance, Wall Street, banking and even the government. Announcing honestly that we are still in a depression and still years from recovery will eventually squeeze out any chances and opportunities for them to keep their business and companies running.

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Popularity: 1% [?]

Great news may come for millions of students in the US. A plan proposal to cut student loan payments will be made by Obama, according to the White House on Monday. In this plan, Obama will propose:

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Popularity: 7% [?]

After every depression, there is a shift of economic power happening. The last depression that hit the world in 1928-1929 caused a shift of economic power from Europe to the United States. Economic analysts say that what we are facing now is not only a recession but probably the greatest one after 1929. The meeting of G-20 last year acknowledged that another economic power shift will happen again. This time it is happening from the US to emerging economies in Asia, especially in China and India.

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Popularity: 2% [?]

Sallie Mae just recently made an announcement that in the fourth quarter which just ended Dec 31, 2009 it reached a core earnings basis of $249 million. Chief Executive Albert L. Lord also hoped that earnings in 2011 will be higher than 2010. I guess it is ‘bravo, Sallie Mae’ – while America’s future is struggling to gain higher education, somebody is swimming in profit for it.

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Popularity: 2% [?]

Popularity: 2% [?]

Regarding the current national debt that the US is carrying, Robert Kiyosaki, author of “Rich Dad, Poor Dad” and a successful real estate investor, said that national debt and federal deficit will continue to increase. This is thanks to Fed Chairman Ben Bernanke who is so much more interested in saving his own little rich friends in the Mega-banks, then saving the American people. By replacing old national debt with new debt, Kiyosaki commented that Bernanke is “turning the US into a zombie nation”.

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Popularity: 2% [?]

Just before New Years eve last year, China’s vice-minister of trade, Zhong Shan, declared that China will be continuing to increase its share of world exports. According to figures released on January 11th, showed that China’s exports in December were higher than a year before after 13 months of declines. In 2009, China’s exports decreased by 17% but then again, other countries’ exports fell by even more than that. Because of this, despite China’s decrease in export then, it was still able to overtake Germany to become the world’s largest exporter. If you see the chart below, you will find that China’s share of world export jumped to almost 10%, which in 1999 was only 3%.

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Popularity: 1% [?]

Popularity: 2% [?]

Recently I found a website that listed the top 10 bubbles in the making. In the number 3 spot, the website listed gold bubble as its price has gone up the past few months over $1,100 an ounce. The problem is, the US mass and financial media does not want you to know something…

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Popularity: 1% [?]