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How Much Do You Know About the First Global Credit Crisis?

June 2022 marks the 250th anniversary of the outbreak of the 1772-3 credit crisis. Although not widely known today, this was arguably the first “modern” global financial crisis in terms of the role that private-sector credit and financial products played in it, in the paths of financial contagion that propagated the initial shock, and in … Read more

The History of Credit & Debt – Betty & Dave

Money troubles are not a modern problem. Many decades ago in Bluffton, Indiana, Betty and Dave Jacobs allowed their money struggles to become the focus of an article in a national magazine. Today millions of families still suffer from the exact same money issues and troubles. They suffer needlessly. It is obvious from reading this … Read more

33 AD, the First Consumer Debt Banking Collapse and Financial Panic

The following piece by Bryan Taylor from Global Financial Data is brilliant. It demonstrates that money troubles and problem debt are nothing new. The turmoil you and others might be feeling today is the same internal shame, fear, and struggles people have been dealing with since the beginning of time. Tiberius ruled the Roman Empire … Read more

Get Out of Debt Book Club – Chicago and its Cesspools of Infamy

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Today I’m starting a new series where we look back on how much or how little debt issues have changed over time. The first book in this series is “CHICAGO AND ITS CESS­ POOLS OF INFAMY” by Samuel Paynter Wilson. This is the 1910 edition and dedicated to the good men and women of the … Read more

They Help Families Who Owe Too Much – Credit Counseling 1966

Another look back in the history of credit counseling and debt relief help. After you read the article, be sure to check the original publication date at the bottom to see how many decades these same problems have been a problem for consumers. What is interesting is how credit counseling in 1966 would engage in … Read more

A New Way Out of Debt

A New Way out of Debt In a growing number of cities, businessmen are getting together to offer a helping hand to those in financial hot water. Condensed from Empire: Murray Teigh Bloom In the fall of 1960 the world seemed about to collapse around Billy and Marilyn Simmons of Phoenix, Ariz., and their two … Read more

Consumer Debt Relief False Promises Not a New Problem. Let’s Look Way Back.

One statement I often hear from consumers and those inside the debt relief industry is how the debt relief companies that take advantage of consumers, don’t deliver services, leave them getting sued, and take their money in fees, is a new problem. The reality is it is anything but a new problem. Consumers getting less … Read more

Easy Credit, Nothing New. See These Old Ads.

Here are a couple of old radio ads, one from 1938 and one from 1952, both advertising easy credit to purchase the products. I really enjoyed the 1952 television ad with all the same techniques used today to sell credit. Look for: Pay as little as 35 cents a day after a small down payment … Read more