Profiting from Credit Card Defaults

Last week I disavowed negativity about the world of personal finance until 2009.  I don’t intend to break that vow today.  However, writing about how we might profit from negative financial projections is actually positive, so I’m going for it.  You can file this as a last minute, end of year stock tip.  Maybe you could still benefit from taking a capital gains loss in 2008.  (Don’t forget that up to $3,000 of that loss is deductible from ordinary income.) Read more

Homeowner Bailouts Destined to Fail

After years of observation of American consumers, Mr. ToughMoneyLove some time ago arrived at the opinion that some folks just are not meant to be homeowners.  This does not mean they are bad people or fundamentally undeserving.  The fact is that some people lack the resources, judgement, or discipline to make good financial decisions or to fulfill all of the financial obligations associated with owning a home and paying on a mortgage.  For them, it’s just not going to happen. Read more