It is interesting to learn who is it that is lending the US government money to cover it’s own intereste payments on it’s debt. Apparently the government owes itself the most. As of last June (the latest complete breakdown available), the biggest holder of Treasury debt was the U.S. government itself, with about 52 percent of the total $8.5 trillion in paper that’s out there. Most of the government’s holdings are massive savings accounts for programs like Social Security and Medicare.. That’s leaves a little over $4 trillion in public […]

It is interesting to observe that even some of the wealthy are beginning to falter when it comes to avoiding the Jones’ consumption style. It appears that many of them are now trying to keep up with the super rich.  Consumption and debt increases are becoming more common amongst the affluent. In fact, some sociologists and economists say the rise in wealthy people’s debt stems in large part from the growing pressure among the elite to keep up with richer peers. The biggest disparities in wealth today are among the […]

A peculiar article was recently published by Smart Money suggesting that living completely debt free is a bad thing. That your credit score can actually be worsened by having no debt! The powers that be are trying to make us believe that debt is actually good for us! Apparently individuals are starting out in life with piles of debt to work off. This includes the common student and credit card debt. The rate of debt growth is escalating. So the financial institutions lending us the money are doing a great […]

An interesting pool just came out by Banrate.com asking Americans how they felt about budgeting. The results seem to be a bit contradictory. In the poll, it was suggested that American’s felt budgeting was very important.  Ninety percent of respondents say it’s “essential” or “very important” to have a personal or family budget. The poll further indicated American’ understand the virtue of keeping a budget. The idea of what we teach at Prosper is what American’s believe to be important.  “You create a monthly spending plan, and you pat yourself […]