Why it is so hard for Americans to be healthy and not spend money

The American health care system is broken. The reason is not that employer group plans makes insurance more expensive for those who don’t have an employer. No, the reason that the American health care system is broken is because Americans universally tend to believe that

1. Technology can solve all problems.
2. If you spend enough, you can get the technology needed for step 1.

This is also the reason why so many people believe that they need a lot of money just to get by. Possibly this attitude comes from the country being one of engineers and businessmen (eggheads and peddlers? ), so lets use this as a model to explain why this combination of thinking fails to solve complex problems.

Technology solves simple problems that usually involve few parts with few degrees of freedom. A pair of scissors has two parts and one degree of freedom. There is roughly one degree of freedom every time on part can move independently of another part. An operating engine has many parts, but most of them are locked together, so effectively there are less than a dozen parts and maybe a handful of degrees of freedom for the different pistons and valves. It is an exceedingly complicated machine that has more than a couple of dozen degrees of freedom on the same level. In more complicated scenarios one builds a hierarchy of solutions if possible. For instance, logical circuits are gathered together on a computer chip, circuit boards are designed with chips with little consideration of the internals of the chips and so on. Compartmentalizing knowledge like this is a great tool but also a great source of weakness (like any great tool is). If humans were sufficiently intelligent, the hierarchy could be leveled and substituted for complexity (like the human brain). The fact that we have not invented artificial intelligence speaks to the fact that we have not mastered complexity.

Complex problems involve many agents with few degrees of freedom or few agents with many degrees of freedom. Examples of the former includes economic bubbles (herd mentality) and the war in Iraq. Examples of the latter includes being healthy and making efficient consumer choices. Assuming the risk of offending 90% of my readers I would say that the American mind(*) is culturally disposed to do worse at these kinds of problems compared to other nations. Conversely other nations do worse at simple problems(**) such as technology and business.

(*) Here I am talking about predispositions (stereotypes) and not the color of one’s passport. Not all Americans act like the stereotypical American just like all Germans do not act like the stereotypical German. Yet if one observes a people over a sufficiently long time there are certain tendencies that one can identify as American, German, Japanese, French, Chinese, …
(**) Make sure to understand the difference between simple problems and complex problems. Simple problems have few parts and few choices or many parts and many choices. Complex problems have few of the one and many of the other. Simple problems can be difficult to solve. Complex problems are often impossible to solve.

I think the recent track records of the economy and the war speak for themselves so lets consider health and consumer choice which is pertinent to this blog. Being a resident alien (and having lived in a few countries) gives me somewhat of an amateurish anthropological advantage in observing the natives. I have frequently seen that whenever Americans need to fix a problem they instinctively turn to Walmart. If you can’t find your hat - go and buy a hat. If that hat is too warm, too big, too red, go buy another one. If the hat example sounds ridiculous just substitute hat for shoes. I bet you have more than 5 pairs of shoes. If you’re hungry, you go and get pizza. And so it goes. Due the innate lack of ability to improvise and find complex solutions, that is, the inability to use fewer things to solve more problems necessitates solving problems by getting many things to solve many problems. Hence the lack of complex skills needs to be compensated by spending a lot of money on a lot of stuff and a lot of service, for instance the US is the first country I’ve been to where it is normal not to do your own taxes. This invisible inability is the main barrier to financial independence for many people. The only solution they know in terms of solving their problems is accumulating a lot of money.

This attitude fares no better when it comes to health care. Many Americans believe that the most important thing they can do remain healthy is to get a good health insurance plan. People cry for affordable health insurance rather than affordable health care or affordable health (clean water, clean air, nontoxic houses, nontoxic food, ..). The belief is that once you get sick or decrepit (and it is widely believed that everybody gets to that point eventually) then you or rather the insurance company throws [their] money at the problem and doctors fix you with technology much like cars are fixed in a garage, the economy is fixed with a stimulus package, or political problems are fixed through the use of superior firepower.

Yet when it comes to health it is always the responsibility of the individual. Health care is mostly about what and how much you eat and how and how much you move. If you eat more than you move, you are unhealthy. This eventually results in all sorts of complex problems (diabetes, clogged arteries, …). If you eat wrongly, the chance of cancer increases. If you are relatively weak (if you can’t do a pull up or a 30 second handstand then you are relatively weak), there will be problems with broken bones, joints, etc. down the line. Problems like strain and overuse also arise from moving wrongly. Thus health care starts with eating and moving correctly. This is common sense but people fail to apply it. Many people are much more likely to pop a pill than to prevent getting sick in first place(*). Forsooth, eating vegetables is widely considered to be more painful than paying several hundred dollars a month in health insurance.

As we get old expensive cancer treatments, joint replacements, etc. are required because of the idea that bodies are to be repaired rather than maintained. This attitude (coupled with a litigation happy public/justice system) causes Americans to pay close to twice as much for their health as the nearest country for the same level of health. I wasn’t surprised when I saw a financial institution predict that Americans needed to save $225,000 to to pay for health care during retirement.

(*) Don’t believe me? What do you do for allergies? Stop eating the food, petting the pet, or staying indoors when the flowers are blooming? Or do you pop a pill? What do people do for bone strength? Lift weights? Or pop a pill?

Now “an ounce of prevention is worth a pound of cure”, so for early retirement/financial independence it becomes crucial to learn how to deal with and think about complex problems. Health issues must be prevented before their appear. This means exercising daily at high intensity. It means cutting back on salt, meat, and dairy products while eating more vegetables and fruits. In terms of problem solving it means learning how to improvise(*) rather than “buying” whenever there is a problem.

(*) We used a cardboard box insulated with aluminum foil to store the ashes of our wood stove and a small garden shovel to rake the [cold!] ashes out until we got a nice set of fire place tools and a metal bucket via freecycle. Similarly the puppy currently used a set of cardboard boxes (which actually hold DVD cases and various other crap) taped together with duct tape and covered with towels for traction as a ramp for the couch. That is, until we find a free or cheap ramp somewhere.

Update: Risk Without All That Nasty Reward

Many of you likely saw the following article in the New York Times detailing Bank of America’s plea to the government for a bailout of the mortgage markets (see A ‘Moral Hazard’ for a Housing Bailout). Edmund Andrews writes:

A confidential proposal that Bank of America circulated to members of Congress this month provides a stunning glimpse of how quickly the industry has reversed its laissez-faire disdain for second-guessing by the government — now that it is in trouble.

The proposal warns that up to $739 billion in mortgages are at "moderate to high risk" of defaulting over the next five years and that millions of families could lose their homes.

To prevent that, Bank of America suggested creating a Federal Homeowner Preservation Corporation that would buy up billions of dollars in troubled mortgages at a deep discount, forgive debt above the current market value of the homes and use federal loan guarantees to refinance the borrowers at lower rates.

This, in essence, would represent a public bailout of the banks. Mike Barnett, a guest blogger to this site, recently expressed his concern about the message that such a bailout sends to the bankers, and some broader implications it might hold for our society at large (see Reward Without All That Nasty Risk).

With that in mind, I asked Mike if he’d like to comment on this piece. Here’s what he wrote back:

Mike Barnett’s comments: The New York Times article talks more about the moral hazard we’ve been seeing in action — few morals, many hazards. The same folks who wanted government to stay off their backs now want government to carry them on its back. It’s like the kid who wants his parents to stay out of his affairs until the bills and the problems mount, and then fully expects mommy & daddy to bail him out. And that’s really the problem here — because mommy & daddy (the government) have an attachment to little Johnny (the banking industry), they’re prone to covering for him; little Johnny knows this, and he abuses this, time and time again. What’s a parent to do?? As the article notes, what’s good for Bank of America is good for America . . . then again, for the long-term sake of America, maybe we need to let little Johnny make his own way for once, or he’ll never learn.

My comments: Mike is pointing out how the moral hazard plays out in this case. In the previous post he pointed out some of the second order effects (aside from saving the banks and incentivizing the moral hazard) that might result from such a bailout (e.g., a larger U.S. populous feeling disenfranchised by a system as that privatizes profits but socializes losses). Realistically, I think it’s becoming clear to most market participants that some form of public bailout is likely to occur. The issue now is what form should that bailout take. We’ve recently seen proposals similar to that of Bank of America floated by Rep. Barney Frank that would allow the government to buy distressed mortgages (see Bernanke Calls Plan to Buy Mortgages ‘Worthwhile’). Likewise, Alan Blinder offered a thoughtful alternative in which the government would revive an agency (HOLC) created during the depression to rescue families from foreclosure (see From the New Deal, a Way Out of a Mess). As I’ve mentioned before, I am not an expert in issues of social welfare; however, I agree with Mike Barnett that if we are to move forward with a bailout, it must take a form that: a) penalizes those who had a hand in creating this debacle, and b) enacts regulatory measures to make sure that we never end up in a situation like this again.

Mike Barnett expressed some serious concern about the functioning of our capitalist economy in his prior post. Nouriel Roubini recently expressed a similar view. He writes:

This is indeed a one-sided game where financial insiders privatize profits while the massive losses of their reckless behavior – searching dangerously for yield, gambling for redemption, being subject to distorted incentive not to monitor their lending and risky investments - are systematically socialized during a crisis. This is actually "crony capitalism" of the worst kind, as bad as the one that plagued emerging market economies and led to their severe financial crises in the last decade.

Any government-led intervention (bailout) must, at all costs, try to avoid being perceived in that way.

TurboTax proved too difficult for me

This year I figured I wanted to save the 30+ hours I spent last year doing my taxes. I have heard a lot of good things about various tax preparation programs that can fill out taxes and thus obviate the need for an accountant. After all if individuals need to hire experts merely to comply with the laws of a country, it seems to me that something has gone horribly wrong. I’d like to think that this is not the case - hahaha oh I slay me - and perhaps I’m in denial about the good intentions of government, but I have elected not to get an accountant.

This leaves the choice between using a program and using my time.

This year my return is complicated by relocation expenses, a bunch of retirement plans, and paying taxes in two states. Therefore I figured I would try the program option first. I did not want to spend time researching various programs as this would be similar to just reading the IRS instructions (which are actually pretty good!). Therefore I just went with with my broker was advertising at a discount, namely TurboTax. The possibility of importing broker data directly into the tax software sounded especially appealing. I remember matching trades (I have about 50 trades a year) last year and it was a pain.

So onwards and upwards.

My initial impressions were that the online version of TurboTax was very friendly. One clicks boxes for “I moved for a new job”, “I pay tax in two states”, “I contributed to a retirement plan”, … sure we can handle that no problem. Thus encouraged I started entering our W-2 info. This can be downloaded but that didn’t work for me. So I entered everything by hand. This was not a big issue except it took somewhat longer than merely reading off the forms and filling the numbers into the 1040 by hand. (Not all of them are actually needed).

Then came the investments, and this is where things went haywire. I successfully downloaded my broker data, but it turned out that TurboTax only got the 1099 forms. Obviously those are useless for calculating gains or losses since they don’t include the cost basis. I started entering numbers in their spreadsheet format. This was significantly complicated by the fact that my option trades aren’t part of the 1099s and thus did not import either. After 30 minutes I was done with the first few companies and clicked continue only to get a friendly message my session had timed out after 20 minutes, ARGH! Now I’m a patient man when it comes to computers — I expect a little more from humans — so I started over making sure to click done and restart the process every 15 minutes. Now if a covered short call gets assigned the sales price of the call gets added to the proceeds. Also if an short option expires, the IRS expects you to write “Expired”. Apparently TurboTax can’t do short options. Thus after spending 4 hours doing the usual matching on a piece of scrap paper and trying to fit it into TurboTax’s menus, I gave up. I was getting very concerned that I would miss a trade or two due to the security timeouts which required a restart every time. Now this would have worked beautifully if I had only bought and sold a handful of stocks, but I build positions in pieces, and I cover them from time to time which introduces all sorts of mental pain when it comes to figuring out whether certain dividends are truly qualified or not. The program clearly wasn’t designed with my situation in mind.

So this year I’ll be doing my taxes by hand again. This means I’ll save the money on the tax preparation software but this is nothing compared to the sense of accomplishment from having wasted 30 productive hours by filling out complex tax forms.

I’d like to remark that If I was the president my economic stimulus package would not be what amounts to a forced loan from myself to myself (as if?!) but a reduction of the tax code.

The Greek's Week Ahead - Bond Insurers' 11th Hour

The Greek's Week Ahead has been engineered to prepare you for the events that could impact your portfolio this week.

Grandpa Buffet came to the rescue last week with an offer to save bond insurers, or so it seemed. The response from the insurers themselves implied good old Warren was actually acting rather selfishly. By mid-week, the focus turned to Bernanke Downer and his mixed message depicting more tough times ahead, but without recession. Alan Abelson pegged Bernanke's motive and mindset perfectly in Barron's this week when he reminded us of Ben's obligation to the man who signed him on, good old GW. Bernanke and especially Hank Paulson acted mainly as presidential cheerleaders for most of last year while the underpinnings of the economy came loose. Finally, before the week was over, we were back to worrying about the bond insurers.

Despite the rough close to trading, broad indices mostly gained ground last week. The Dow Jones Industrials and the S&P 500 Index both climbed 1.4%, and the Nasdaq inched up 0.7%. While short interest trended lower, equity mutual funds continued to record outflows of capital. Money funds averaged weekly inflows of $42 billion over the four weeks ended February 13, while equity funds posted average outflows of $12.3 billion. Municipal funds saw net inflows of $919 million on average.

Foreign markets rose last week, with the European barometer, the DJ STOXX Index rising 0.6%. Norway led the region, as it increased 5.1%. In Asia, the DJ Asian Titans 50 increased 2.1% on the week, and Singapore led the region's risers as it moved 4.8% higher. India increased 3.0%, while Hong Kong rose 2.5%. However, Shanghai B shares fell 1.9% on the week. Oil prices recorded a noteworthy increase as well, as light sweet crude climbed to $95.5 a barrel.

Dramatic Week Awaits

The week ahead will be an abbreviated one due to the President's Day holiday. However brief the week may be, it will not be short on drama. It's very likely bond insurance providers and other interested parties will work through the long weekend as they seek to find resolution to their dire predicament.

New York Governor, Eliot Spitzer, and New York State Insurance Department Superintendent, Eric Dinallo, tightened the clamps on the bond insurance industry last week. Due to their concern that the credit rating agencies might soon downgrade Ambac Financial Group (NYSE: ABK) and MBIA, Inc. (NYSE: MBI), the two most important bond insurers, Spitzer issued an ultimatum. He's given the insurers 3-5 days to take appropriate action in order to preserve their AAA credit ratings. At that point, if they have not done so, the state is prepared to force the division of the firms' municipal bond operations from the remainder of the companies' businesses, which include their troubled subprime mortgage related operations.

Loss of the AAA rating would disable the insurers' ability to conduct ongoing operations. However, if the municipal insurance business is separated from the parent companies, municipal bond investments would not be at risk. As Dinallo states, the muni-insurance businesses could operate in "rehabilitation" while ironically still maintaining their triple-A status. They would continue to serve their obligations in runoff fashion. Eric Dinallo indicated in a CNBC interview that the insurers have many options, and he seemed to imply there remains a strong likelihood they could continue to operate as they do now with help from the private sector.

So, over the weekend the companies will very likely be working to secure new capital investment from current owners like Warburg Pincus (investor in Ambac), or from new equity interests. New investment could arrive from parties who either stand to benefit from securing their own risk or from gaining equity interests at bargain pricing. Institutional investors holding the municipal bonds or otherwise insured credits stand to benefit from aiding the insurers themselves. If the AAA rating is lost, as the underlying securities are likewise revalued, institutional investors face the potential of further asset write-downs themselves. In other words, The Greek would go out on a limb and say investment in ABK and MBI could prove wise a year from now. Investors must realize, however, that any incremental investment dilutes current shareholders' stakes, and for the gamble to work out, these companies must remain operating as is.

The Week's Market-Moving Event Schedule

This week offers a relatively light load of economic data, but a busy earnings schedule. Light does not mean inconsequential, however, and some very important data will reach the market.

Monday

While the U.S. market will be closed in honor of President's Day, and Canada for Family Day, most of the world is open for trade. As you may recall, international market turmoil ruled the day the last time the American markets were closed, which was January's holiday honoring Martin Luther King. This led to an emergency rate cut by the American Fed Chief ahead of the U.S. open on that Tuesday.

We later discovered the catalyst of the chaos may have been Societe' Generale rogue trader, Jerome Kerviel. Wall Street will be more than a little edgy this Monday as well if no mitigating resolution has been found to cure what ails the bond insurers. Concerns are raised by the fact that many would-be saviors are already capital constrained due to the subprime debacle. Ironically, these same firms stand to benefit if AAA credit ratings can be preserved at the insurance firms. Still, there are other potential sources, including sovereign wealth funds and vulture investors.

There are still a handful of earnings reports on the docket Monday, including Constellation Energy Partners LLC (PCX: CEP), Flagstone Reinsurance Holdings (NYSE: FSR), Hellenic Exchanges (Athens: EXAE.AT), PharMerica (NYSE: PMC), Stewart Information Services (NYSE: STC), Trico Marine Services (Nasdaq: TRMA) and many other international firms.

Tuesday

On Tuesday, the State Street Investor Confidence Index should not surprise many with a low February reading, after a measure of 68.8 in January. After all, on the Friday just passed, the University of Michigan Consumer Sentiment Survey measured at its lowest level in 16 years.

In other news, the Housing Market Index will also be reported on Tuesday. God bless… Its last reading in January was a sad 19.0. Minneapolis Fed President Gary Stern will occupy a podium and may catch the newswire's attention. Finally, Presidential primaries will be held in Washington and Wisconsin, while the Democrats caucus in Hawaii.

Tuesday earnings schedule is headlined by Barclays Bank PLC (NYSE: BCS), Crocs, Inc. (Nasdaq: CROX), Hewlett-Packard (NYSE: HPQ), Marvel Entertainment (NYSE: MVL), Wal-Mart (NYSE: WMT) and Whole Foods Market (Nasdaq: WFMI).

Others reporting on Tuesday include Aaron Rents (NYSE: RNT), 21st Century Holding (Nasdaq: TCHC), ACI Worldwide (Nasdaq: ACIW), American Commercial Lines (Nasdaq: ACLI), AmSurg (Nasdaq: AMSG), Arthrocare (Nasdaq: ARTC), Axsys Technologies (Nasdaq: AXYS), Calumet Specialty Products (Nasdaq: CLMT), CEC Entertainment (NYSE: CEC), Champion Enterprises (NYSE: CHB), Chiquita Brands (NYSE: CQB), DealerTrak (Nasdaq: TRAK), Equity One (NYSE: EQY), Fossil (Nasdaq: FOSL), Genuine Parts (NYSE: GPC), HCC Insurance (NYSE: HCC), Holly (NYSE: HOC), Integrys Energy (NYSE: TEG), iRobot (Nasdaq: IRBT), Kaiser Aluminum (Nasdaq: KALU), Kindred Healthcare (NYSE: KND), Martha Stewart (NYSE: MSO), Medco Health (NYSE: MHS), Medtronic (NYSE: MDT), Montpelier Re (NYSE: MRH), Noah Education (NYSE: NED), OfficeMax (NYSE: OMX), Oil States Int'l (NYSE: OSI), PrePaid Legal (NYSE: PPD), The St. Joe Co. (NYSE: JOE), TradeStation Group (Nasdaq: TRAD) and many more.

Wednesday

On Wednesday, all eyes will be on the January reading of the Consumer Price Index. The Federal Reserve pays close attention to this report in order to keep tabs on inflation. Despite Fed expectations for beneficiary near-term impact to prices arising from economic softness, import prices posted an increase of 0.6% in January, excluding a 5.5% rise in petroleum costs. In other words, don't get your hopes up. Bloomberg's consensus of economists is expecting a month-to-month rise of 0.3%, while looking for an increase of 0.2% when excluding food and energy prices. You will not want to miss the weekly ICSC-UBS Same-Store Sales Report, pushed back a day due to holiday. Last week's rate of growth was enthusing, as it showed a sales rise of 1.8%, year-over-year.

Petroleum Status is typically pushed back a day during weeks that include a Monday holiday, so this week's report could come on Thursday. Speaking of petroleum, it seems OPEC has been spoiled by rich crude prices. The group was rumored to be considering production cuts despite European GDP growth of 2.3% and surprisingly strong demand from Japan. Informally, shipping information indicates OPEC may already be cutting supply. However, on Saturday OPEC decided to keep production steady, while geopolitical trouble-makers Iran and Venezuela suggested a production cut for March. Regarding Iran, IAEA Director, Mohamed ElBaradei is expected to report on Iran's nuclear activity on Wednesday.

January Housing Starts will be reported on Wednesday morning, after missing the mark in December. Bloomberg's survey shows consensus looking for an annual pace of 1.01 million starts this time around. Finally, the Federal Open Market Committee January meeting minutes will be released, and considering the depressing testimony of Fed Chief Bernanke on Thursday, this report should prove mute. St. Louis Fed President William Poole may steal the show, as he speaks on the topic of "Inflation Dynamics." Hey, that sounds a heck of a lot similar to our article regarding inflation.

Wednesday's earnings include interesting reports from Aegean Marine Petroleum (NYSE: ANW), Garmin Ltd. (Nasdaq: GRMN), Paragon Shipping (Nasdaq: PRGN), Psychiatric Solutions (Nasdaq: PSYS), Suntech Power (NYSE: STP), Transocean (NYSE: RIG), Tween Brands (NYSE: TWB). Others on the slate include Agnico-Eagle Mines (NYSE: AEM), Allied Capital (NYSE: ALD), Analog Devices (NYSE: ADI), Brandywine Realty Trust (NYSE: BDN), Career Education (Nasdaq: CECO), Given Imaging (Nasdaq: GIVN), Inverness Medical Innovations (NYSE: IMA), Jack in the Box (NYSE: JBX), JAKKS Pacific (Nasdaq: JAKK), Koppers Holdings (NYSE: KOP), Lithia Motors (NYSE: LAD), NetEase.com (Nasdaq: NTES), Rogers Corp. (NYSE: ROG), Sina Corp. (Nasdaq: SINA), Terex Corp. (NYSE: TEX), TJX Companies (NYSE: TJX), Trinity Industries (NYSE: TRN), Watson Pharmaceuticals (NYSE: WPI) and many more.

Thursday

Thursday brings the Philadelphia Fed Survey, which shows the status of the region's manufacturing sector. The New York area report on Friday posted a negative 5.75, indicating a contraction of the business environment for the first time since 2005. Just about every aspect of the report showed deterioration, including expectations for future employment. The only rise within the report was in prices paid, and that's certainly not good. The Philly Fed Survey fell into the red in January, at a negative 20.9, and Bloomberg's consensus sees February's reading at -12.0.

Weekly Initial Jobless Claims remain an important blip on the regular radar as we attempt to forecast the onset of recession. The consensus is looking for 348K new benefit claim filings for the week ended February 16. Finally, Leading Economic Indicators for January are likely to follow December's negative measure, in our view.

Hillary Clinton and Barack Obama are scheduled to debate in the important state of Texas on Thursday. The debate is critical to Obama, as we expect Clinton has strong support in Texas.

Thursday's earnings schedule includes a pan full of gold miners. Look for reports from Barrick Gold (NYSE: ABX), Goldcorp (NYSE: GG), Hecla Mining (NYSE: HL), Kinross Gold (NYSE: KGC), Lihir Gold Ltd. (Nasdaq: LIHR), Newmont Mining (NYSE: NEM) and Pan American Silver (Nasdaq: PAAS).

Other notable reporters include MGM Mirage (NYSE: MGM), Ruth's Chris Steakhouse (Nasdaq: RUTH), VCA Antech (Nasdaq: WOOF), Allianz SE (NYSE: AZ), Ansys (Nasdaq: ANSS), Cabelas (NYSE: CAB), Chesapeake Energy (NYSE: CHK), Eaton Vance (NYSE: EV), Express Scripts (Nasdaq: ESRX), Forest Oil (NYSE: FST), Friedman Billings Ramsey (NYSE: FBR), Gilat Satellite Networks (Nasdaq: GILT), Intuit (Nasdaq: INTU), JC Penney (NYSE: JCP), Morningstar (Nasdaq: MORN), Odyssey Re (NYSE: ORH), Olympic Steel (Nasdaq: ZEUS), Pool Corp. (Nasdaq: POOL), Quest Diagnostics (NYSE: DGX), Roper Industries (NYSE: ROP), Societe Generale (Paris: GLE.PA), The Midland Co. (Nasdaq: MLAN), Williams Cos. (NYSE: WMB), Zale Corp. (NYSE: ZLC) and many more.

Friday

Friday is devoid of economic reports. The earnings schedule includes Nicor (NYSE: GAS, PG&E (NYSE: PCG), St. Mary Land & Exploration (NYSE: SM), Aircastle (NYSE: AYR), Cobra Electronics (Nasdaq: COBR), Endo Pharmaceuticals (Nasdaq: ENDP), Huntsman (NYSE: HUN), Life Time Fitness (NYSE: LTM), Lincoln Electric (Nasdaq: LECO), Rogers Communications (NYSE: RCI), Standard Register (NYSE: SR) and others.

Please find our daily market previews and commentary at http://www.wallstreetgreek.com/.

Help us grow our grass roots effort by visiting the site, clicking the small envelope at the bottom of this article and sending notice to your friends about the Wall Street Greek value add. Receive Wall Street Greek FREE via email by subscribing here. (disclosure)

Wall Street Week in Video Review - Feb 11

Please enjoy the collage of videos we've gathered for you. You can easily fast forward through to watch what interests you.


As always, the views expressed in the videos do not necessarily agree with the views of Wall Street Greek. Receive Wall Street Greek FREE via email by subscribing here.

Car Loan Options For Bad Credit Applicants!

Tip! Pre-approved auto financing can be secured quickly and easily online. One site specializing in bad credit car loans is Fast Car Finance.

While there are certainly car loan programs for those with bad credit, they aren’t all in your best interest. You need to research so that you can choose from the most reputable and consumer-driven lenders available. You need to find those lenders who specialize in helping you get a car loan even with bad credit.

No More Declines

Even if you have been turned down in the past when applying for a car loan with bad credit, this doesn’t mean you won’t be approved for a car loan. Before you pre-judge your credit score, let those in the business help you get approved for a car loan. In order to do so, search for online car loan lenders for people with bad credit.

Tip! View her recommended lenders for bad credit car loans online. Also, view her recommended sources for a credit report agency.

Simply complete a car loan application through one of the many finance companies and you’ll often get an approval within a few days; sometimes within a few hours! They won’t approve you out of the goodness in their hearts; they are actually making money through bad credit loans. Bad Credit Loans is such a growing market that lenders are now competing to offer loans for bad credit applicants.

Whether you are looking for a primary or secondary vehicle, these lenders specialize in sub-prime and poor credit lending so you can be assured that their competitive interest rates and easy terms can help you get out from under the bad credit blues.

Other Non Credit Requirements

Don’t fall into the trap of thinking that everybody is approved for a car loan with bad credit. There are certain requirements you’ll want to meet before asking bad credit lenders to analyze your application for a car loan.

Tip! Pull your credit report, credit agencies are required by law to provide you with a free copy of your credit report. If your credit score is low you will need a bad credit car loan.

Companies won’t give you a car loan, especially if you have bad credit, if they don’t think you can pay for it! So make sure you can prove income before trying to get a car loan with bad credit. Take a look at your budget and make sure your income can not only pay your bills, but handle your new car payment and other costs as well.

Most car loan companies will want to see that you’ve been employed at the same company for at least a year. While shorter employment terms aren’t rejected, you’ll want to give them as much comfort as possible. And they’ll in turn offer much better deals; reducing the risk for the lender is also at your best interest.

Tip! A bad credit car loan gives them a chance to recover from their poor credit history. These loans are available at fixed and variable interest rates.

If the state of your credit is severe, you may want to contact someone who is willing to co-sign a car loan for you. This would offer the lender more security because the co-signer would be responsible for the loan if you defaulted.

Getting A Better Deal By Putting Money Down

The more money you are able to put down, the better your chances of getting a car loan even with bad credit. A down payment builds instant equity and this gives the lender security in the event you default on the loan. For example, if the car costs $8,000 and you ask to finance only $5,000 then the lender will have $3,000 in protective equity.

You can indeed get a car loan even with bad credit so don’t despair! Lenders are used to working with people in all kinds of credit straits. Regardless of your credit history and previous blemishes, you can get approved for a car loan even with bad credit.

Tip! On the other side, in unsecured bad credit car loans, no such risk is associated. But, the lender has the legal right to sue the borrower for missing any repayment.

To begin your search and obtain a car loan that’s right for you, just do a quick search on the internet for bad credit car loan lenders and request loan quotes from all of them to compare rates and costs.

Sarah Dinkins is an Expert Loan Consultant in the financial industry that helps people to repair their credit and get approved for home loans, unsecured personal loans, student loans, consolidation loans, car loans and other types of loans and financial products.
At http://www.badcreditfinancialexperts.com/article/ she is continually adding new finance articles useful for those in need of professional advice.

Tags: debt consolidation, money

100% Approval Bad Credit Payday Loans

Tip! Visit Bad Credit Help for more resources and help with your credit.

You can get 100% approval bad credit payday loans from almost any loan provider. Many payday loan companies do not check whether or not you have a bad credit. You simply have to meet the basic qualifications for the loan to get fast approval within 24 hours. The loan qualifications generally include verifications on:

1. Age: you must be over 18 year old.
2. Job: you should have a regular job with steady income.
3. Bank account: you should have an established check account.

Tip! Here are some things that will help you to find the bad credit help that you need.

100% approval payday loan for bad credit is an easy solution for your emergency cash requirements. Often you have to face unexpected needs such as home or car repair, medical urgency, or simply the need for quick cash until your next payday. Payday loan companies offer reasonable rate for up to 30 days. In addition to this, they may be able to give you an extension for the term of the loan if you are unable to pay off on time.

Bad Credit? Refi Today Homeowner in debt? Need cash now? Call Full Spectrum??. Fast approvals.

Bad credit payday loans do not require any credit checks. Applicants who have filed for bankruptcy are also eligible for this loan. What the loan company requires is a repayment within the stipulated duration. With a few basic qualifications you will be able to get instant cash for the amount between $100 and $1500.

How to Apply for Payday Loans

Applying for payday loans is very easy. You can submit your application online or ring them directly. You may be requested to provide additional proofs, such as driver’s licence, the latest electricity bills, etc. Your application is processed instantly in the secure system. The required loan amount is deposited in your bank account and you can have cash in your hands in less than 24 hours of applying for the loan.

Bad Credit Help Ovation Law specializes in fast and effective credit repair services: no start up costs/excellent customer service - BBB member - easy online signup.

Applying for payday loans online over the Internet is very convenient. Not only is it quick, but also it is available 24 hours a day 7 days a week. You can fill in the application at midnight and receive the cash the next afternoon. You save time by not travelling anywhere and in the same time you are able to find out instantly whether or not your application is approved.

Payday Loan Repayment

Repayment procedure for payday loans is also as easy as receiving the loan. Since the loan term automatically terminates on your next payday when you receive your paychecks, the loan company automatically withdraws the fee from your bank account. The interest they are charging for this transaction is mentioned in your agreement terms. You are, off course, able to extend the loan term if you need to. You will have to fill in an online form 3-4 days prior to the due date. Early repayment is also available without attracting any fees.

Bad Credit Help Repair and improve your bad credit rating quickly, easily, and legally - Learn how with a free credit repair consultation.

You can get 100% guaranteed approval on payday loans easily online. Many loan companies provide no denial bad credit payday loans and bad credit cash advance with no credit check required.

Tags: credit, debt consolidation

Tags: bad credit help, bad credit, credit repair, credit help