Pawn Shop Economy

Times are tough. People are having trouble paying basic bills -- food, fuel, utilities -- not to mention those adjustable-rate home mortgages. So, what does Washington, do, if anything, to get this train-wreck of an economy back on track?
Stanford4Modesto's picture

Yeah.....and your point is?

 

Is this suppose to start some sort of a discussion - I bought into your subject line, what does that mean? Pawnshop economy. We are having to hock<sp> everything just to survive? Where are you going with this?

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

jheaton's picture

Forget Washington

How about getting a second job or living in with your means?

May God have mercy upon my enemies, because I won't.
- General George Patton Jr

"A liberal is someone who feels a great debt to his fellow man, which debt he proposes to pay off with your money."
-- G

Stanford4Modesto's picture

And Jheaton rises to the surface again....

Keep going- making sense - keep going....

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Pawn Shop Economy

RE: The Pawn Shop economy. There is growing anecdotal evidence that more people are borrowing money from pawn shops in order to make ends meet. Why pawn shops? Because they offer loans -- in generally small amounts -- that are relatively easy to secure. Lately, it seems, people have taken to pawning their gold jewelry in order to get enough money together to buy, of all things, gasoline!   
Stanford4Modesto's picture

Gas, prescription drugs or groceries....

 

Yes - and gold is paying very well right now - I am seeing a lot of signs for people buying gold and lots of ads on the television.

The Money Marts - payday loans - those things are unreal.

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Pawn Shop Economy

Thanks for adding prescription drugs to the list. The co-pays for all drugs, especially diabetes meds, are skyrocketing. Being a Type-II myself, that's something I have to deal with every month. But I have insurance. Those without medical coverage are really in a bind. If you know of anyone out there in this situation -- actually pawning family treasures and-or jewelry to make ends meet, please send them my way. I'd like to speak with them.
Activist1's picture

Wow.

How sad.

Senior citizen's have been dealing with choosing between food and medication for years, this is nothing new. Many must choose between food or space rent too. But, having to hawk family treasures, just to buy gas, makes me mad!

Maybe we could talk one of these major corps into donating gas cards as gift cards to seniors? It might be worth a try.

Stanford4Modesto's picture

Yeah Linda...

 

You get right on that.

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Activist1's picture

Oh for pete's sake

Do I have to do everything? When are you going to get moving?

Can you make a few phone calls... or is that too much to ask?

Exxon:

Corporate Headquarters
5959 Las Colinas Boulevard
Irving, Texas 75039-2298
(972) 444-1000

Downstream Operations
3225 Gallows Road
Fairfax, VA 22037
(703) 846-3000

Exploration and Producing Operations
800 Bell Street
Houston, Texas 77002
(713) 656-3636

Stanford4Modesto's picture

I told you before...

I pick my own battles - Considering myself as a community leader, I follow no one - particularly whisps of smoke like yourself.

I think you should be more interested in socialized medicine to cure the ills of the seniors - or at least give a good start.

I thought you hopped on the Sicko bandwagon....or was that just another rant?

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Stanford4Modesto's picture

Besides...

I consider you and I enemies, Linda. I think it would be unwise to give you undue information about anything I am involved in, until it is too late for you to interfere with your bellowing.

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

AbstrACT's picture

Pawn Shops...

Oh the pawn shops and how I am thankful for them, but don't miss them. But make no mistake, I always know where to find one. When I was a single mother I used to pawn items quite regularly to make rent, buy groceries, pay bill, etc. One time I got an appraisal order that was about 2 hours away. I had to pawn my laptop (which had software necessary for me to complete the appraisal), in order get the gas money to get there. Then after I was paid for the appraisal, I went back to the pawn shop and got my computer back, completed the appraisal and made like 50 bucks or something. It's pretty humbling. I hated going in there. It was the worse feeling to HAVE to do it. I feel for people right now because it's getting harder and harder to get by.

Stanford4Modesto's picture

Though they are heavily regulated

by local and county law enforcement - I feel like they take advantage of people.

My understanding (for the legit ones) is that they are more interested in you returning to pick up your stuff and pay off the loan then they are in keeping your items - The appropriate business model is that good customers is what drives the business to success for them, and a good customer pays their bills and interest rates. One would think it would be the other way around though.

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Activist1's picture

Enemies?

I don't consider you to be an enemy Stanford.

Stanford4Modesto's picture

All the better...

You should.

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Activist1's picture

Are you sure

about that? Think it through.

Could some people be using consignment stores or antique stores

for basicly the same thing. Trying to get a better price with the knowledge they can't afford to redeem their valuables.
Stanford4Modesto's picture

Do you mean, instead of?

 

That's a very good thought - generally people that use pawn shops are usually going right away from there to pay a bill or get gas - like in the story earlier in the thread about the appraisel.

And of course there is the other set - for drugs - stolen merch. etc.

 

Robert Stanford

Airport Neighborhood Activist

http://www.google.com/search?source=ig&hl=en&rlz=&q=%22robert+Stanford%22+modesto

Living within our means!

Are we so poor there is zero income coming in?

Most seniors I know have a lot more coming in than what I make working. Problem i see is credit was too easy to get and mostpeople just bought what they wanted with no concideration of budget.

Trick is to cut all expenses including Credits Cards and expensive car loans! Don't get sucked into paying for bankers and oil company's big profits.