Borrowers with an Attitude; Debt for Thought

Still Life with Plato

Image by chefranden via Flickr

Thanksgiving is a special day for Americans.  It’s a day we celebrate all kinds of good fortune and even some discomforts.  In the midst of the worst financial crisis since The Great Depression I have a short list of things for which borrowers can give thanks:

We live and work in a free market economy with lenders competing for our business, which drives down the cost of borrowing money.

There are qualified borrowing advisors that can help businesses and consumers make good borrowing decisions.

We live in a great country where you can say no to loan sharks, payday lenders and title loans.  You have the choice to sign your name to any loan document.

We can determine the financial legacy we leave behind by the decisions we make while walking our chosen path.

We have established bankruptcy laws that provide a safety net if a financial disaster strikes.  The laws have been strengthened so if you have the ability to pay you must repay your debt.  In theory, the bankruptcy laws make bailouts unnecessary; in practice, not so much.

So on Thursday let’s raise a glass:

To the Internet where we can research the moneylenders who provide the financial caffeine to a legion of ADD borrowers

For the right to vote and say no to the country’s obsession with housing and the bailouts which have fostered moral hazard

And to the Federal Reserve whose loose money policies have helped create the lowest mortgage rates in 60 years and propped up the housing-industrial complex.  You’ve gotta dance with the one you brought, right?

What do you give thanks for on this Thanksgiving Day?

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About Michael Shelton

Your Business Coach Facilitating Delegation and Work Group Engagement Michael Shelton has over twenty-five years of business and military accomplishments, including extensive experience with one of the largest, publicly traded real estate investment trusts (REIT). He is a qualified business coach with assignments in cross-functional work group management, strategic planning, unit leadership, joint venture acquisitions, executive education, mentoring, training and merger integration. Michael has accumulated best practices for building committed work groups from more than $4 billion of capital markets transactions and commercial property development. He served as a commissioned officer and helicopter pilot in the U.S. Army, and earned his MBA from The University of Arizona. Michael has served as a major conference panelist and is the author of Cash Flow Rich, Winning Ways to Evaluate and Finance Real Estate. Today, he helps business owners get more work group engagement as President and CEO of Shelton Business Services, LLC in Scottsdale, Arizona. Disclaimer: I don't offer investment, legal or tax advice. Talk to your broker, accountant or lawyer for investment, tax and legal help. I might own stock in the companies I mention on-line. My posts, tweets and other on-line activity are my personal thoughts and don't represent my employer or company.
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6 Responses to Borrowers with an Attitude; Debt for Thought

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  5. Nice Article
    Really Helpful for me ,i enjoyed while reading.Thnx
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