Will payday loan providers begin popping up on street corners in affluent neighborhoods as the economy goes south?

Will the need for short term cash coupled with the reduction in availability of credit going to force consumers to look to high-interest short term loans that are often accompanied with exorbitant fees?

This remains to be seen. Many people have the impression driving through a neighborhood with high number of pawn shops or payday loan providers is indicative of a high crime rate, dropping property values, high unemployment, and more. Some pawn shop owners are resisiting those generalizations. But, to be fair, pawn shops have historically been associated with crime for a reason. Before electronic background checks it was very difficult for an associate at a pawn shop to determine if they items they were buying were stolen. High crime rates bring a demand for outlets to fence goods.

But payday loan providers aren’t so directly tied to crime rates. So why the demand in poor neighborhoods? There’s a myriad of them. The demographic characteristics of many poor neighborhoods include lack of access to traditional lenders, lack of credit or bad credit, and a lack of understanding of fees and interest rates associated with payday loans as compared with traditional usury outlets.

Will the presence of payday loan stores increase while the economy declines? Will this put more borrowers under water? If the trend occurs it’s likely to occur soon. Unless people begin to look for payday loan providers online.

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Interesting

Mark Tahiliani

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Mark Tahiliani is the president and CEO Awareness Corporation.

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Parts of this video were narrarated by Ronald Reagan.

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A doctoral student put together a cheap we script that would allow anyone to print a fictional boarding pass.

Although the student intended this web page to be an act of civil disobedience, the TSA did not.

The FBI ransacked his house and took his computers after getting a search warrant signed at 2 in the morning.

More on the story:
Cnet News.
Wired.
KUTV.

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Here’s a timeline showing Dennis Hastert’s land purchases in anticipation of a new highway going through nearby.

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Drudgereport ran a headline today which echoed this sentiment from a new book The Way to Win: Drudge Rules our World.

The authors are longtime political reporters Mark Halperin and John F. Harris.

Drudge then reprinted the book’s comparison of himself to Walter Conkrite. Somehow I can’t see Conkrite doing the same thing in Drudge’s place.

Drudge goes onto describe himself (all from the book of course) as one of the most important entrepreneurs of his generation.

Last line of the article:

“And the dynamic duo get their plug. Hitting bookstores October 3.”

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Bird Flu by Country

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Wtf?
Read the rest of this entry »

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I’ve never before heard the media repeatedly report someone being shot in the face and chest as merely ‘peppered’ or ’sprayed’.

Now it turns out that some of that errant, relatively harmless, birdshot is lodged close enough to the man’s heart to cause a heart attack. And some media organizations are blaming half of the incident on the man who was shot for not watching where he was going…

This AFP article is referring to the man as a victim now however.
Shooter McGavin

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