Pay Day Loans Come at a High Price

by Joanna

I am sure everyone has seen advertisements for "pay day loans". They are advertised as being available to anyone who has a bank account and a source of income, regardless of credit. They are touted as the solution for making ends meet when you come up just a little bit short on paying your bills.

Of course, those ads never mention that pay day loan companies KNOW that they can prey on the poor and get them caught up in a never ending cycle, in which they are forced to take out loan after loan at exorbitant interest rates.

Pay day loan companies often specifically target the elderly and disabled, individuals who rely on Social Security benefits. These loan companies know that this is a very lucrative market for their loans. After all, an individual on Social Security has a guaranteed source of income, so the loan company knows they will be able to receive some sort of payment. AND, the income of people on social security is low enough that they are often forced to take out multiple loans, one after another.

But some industry critics say fixed-income borrowers are not only more reliable, they are also more lucrative. Often elderly or disabled, they are typically dependent on smaller fixed incomes and are rarely able to pay off their loans quickly. "It's not like they can work more hours," says David Rothstein, an analyst at Policy Matters Ohio, an economic research group in Cleveland. "They're trapped."

Source

Same pay day loan companies convince the elderly and disabled people who take out a loan to turn over their social security benefits to the company, and then provide them with a small allowance from each check. They specifically target individuals who are under educated, elderly, perhaps confused, and convince them that a small loan is the solution to their problems.

Mississippi Couple Loses $30,000 in Sweepstakes Scam [VIDEO]

Obesity, Chinese Food & Oily Farts

[Editor's Note: I don't know if you noticed, but I've been away for the past week or so. I've been having problems with my eyesight which is directly related to being diabetic and having high blood pressure. That said, I decided to repost this entry from almost 2yrs ago. In a few days I should be back in full effect]

I've been a resident of Memphis TN for about 4yrs now. My city has the dubious distinction, of being one of the most obese cities in the country. Everywhere I go, I see fat people. Hell, since moving here I've picked up 50lbs. Imagine that! I was already a fat bastard, but moving to Memphis sure as hell didn't help. Recently I heard the statistic on the local news; these results happened to be the result of research via some  gov't agency. I don't always believe everything I hear when it comes to statistics, but it was a recent visit to a restaurant here that opened my eyes.

A couple weeks ago, our family went out to eat. Now mind you, we don't eat out much, so this was a rare event. We went to a restaurant that's fairly new around here. The restaurant is called 'Chow Time', and was described in a commercial as the biggest Chinese restaurant with a buffet in Memphis. Now I love Chinese food. Yup, I love it even as much as black men love bar-b-cue, and I don't care if it's dog or cat meat being served. At this point, I've eaten the shit enough to not even care if my plate starts barking. I mean, that's how much I love Chinese food, and I'm not playing.

So we pull up to this restaurant after having to get directions to find it. Upon parking, my first thought was on just how huge this place was. For a restaurant, the building was unusually large in my opinion. Right then and there I knew I was gonna be in Chinese food heaven. Upon entering the restaurant, I noticed something weird. As I entered the door, I noticed a sign which had the price of the buffet on it. Nothing unusual about that right? Right! Except, at the bottom of the price list it said that there was a minimum charge of $3 for people sitting at tables and not partaking of a meal. Either these people are offended that somebody would sit there and not eat this great food, or they're conscious of the fact that niggas love gettin over.

But I digest...

Toyota needs to hire 'Joe Isuzu'

I'm currently in the market for a new car. Actually, I've been doing research online - something I've never done before - for about the last six months. This last week has been hectic as me and Mrs. RiPPa have been running around the city test driving cars. With all the negative talk surrounding Toyota, and having listened to testimony by consumers on Capitol Hill. Let's just say that when I encounter Toyota products at dealerships, I treat them like a possible HIV/AIDS infested stripper working the pole at any local shake joint. I'm just sayin', you can't trust a big butt and a smile anymore these days; and, for right now the truth is, Toyota is that bitch.

Which is ironic because I could remember when "The Big Three" had to come crawling to DC to be bailed out by the government. The so informed court of public opinion gave them hell for making shitty gas guzzling cars, and pissed on their graves in Detroit. And they did this all the while suggesting that it served them right because they should have gotten with the times like Toyota and other foreign auto manufacturers. If only we knew that Toyota's profit margin was more important than the 34 deaths they're accountable for in America.

But like Jay-Z said, "It was allgood a week ago," when people were screaming, "Buy American." Hopefully all of this doesn't lead to a return to any conflict between the USA and Japan. Especially since we import everything we consume from those cats and their Chinese cousins. The last thing we need, is to import "stuff" other than baby cribs with lead.