The Debt Elimination Scam … Version 2.0

When people are faced with a difficult financial situation, sometimes they make decisions out of pure desperation that they’ll later live to regret. One such decision is taking the “debt elimination” plunge.

The basis of the debt elimination “procedure” is that promoters claim that you never actually borrowed any money on those credit cards, because credit card debt is not *real* money. Hence, there’s nothing to pay back.

Yeah, tell that to the judge, then let me know how that worked out for you.

My good friend, Charles Phelan, of www.zipdebt.com, just published an excellent article on this whole debt elimination thing. It’s definitely worth reading. Here’s a direct link to his article >> www.zipdebt.com/blog/debt-elimination-variation

Over the years I’ve seen the debt elimination scam come and go, and apparently it’s making it’s rounds again with so many people struggling financially these days. And sadly, there will be unwitting people that will sign up for the debt elimination procedure and it will make their financial predicament even worse. Just don’t be one of them.

Warren Buffett: U.S. In Recession

Last night I watched a fascinating (to me, anyway) interview on CNBC with billionaire investor Warren Buffett. Among the many things he talked about, he came right out and said, “From a common-sense standpoint right now, we’re in a recession.”

Ironically, I published an article on this blog just last week stating the exact same thing, even though many in the media and government are presently waffling on the topic and afraid to come right out and say it. Here’s the link to my article in case you’re interested.

The numbers don’t lie. They are what they are.

On a positive note, though, he did restate his view that over the long-run the U.S. economy will do fine and that each generation will live better than the one before it.