Kim Jong-Il says America owes North Korea $ 65 trillion

Reparations payments have been a part of post-war recovery for centuries, and now North Korea’s Kim Jong-Il wants a piece of the pie. According to the Australian Broadcasting Company, Korea is demanding – not suggesting; demanding – that the United States pay nearly $ 65 trillion U.S. in reparations for “six decades of hostility.” KCNA, the official state-controlled news agency of North Korea, reports that just compensation for the tribulations suffered since the division of the Korean peninsula in 1945 is $ 64.96 trillion.

Source for this article: America owes North Korea $ 65 trillion, says Kim Jong-Il by Personal Money Store

With around $ 65 trillion, what is North Korea going to buy?

Perhaps with $ 65 trillion North Korea will be able to afford better industry, not to mention sensitivity training to help smooth over their issues with human rights violations. While it is difficult to take accurate assessment of North Korea’s human rights issues, Wikipedia decided to indicate that Amnesty International has enough data to suggest that major sanctions against North Korea are warranted. The Korean War created a refugee exodus and divided Korean families, which in turn led to food shortages. UN troop movement (as well as bombardment) under U.S. leadership led to the near-collapse of society in North Korea. The nation wasn't supposed to last but did. The strife of war caused as many as 750,000 divided families according to Korean Studies Review, a problem that continues to haunt that area in modern times.

Anniversary 60 being celebrated

The Korean War was about 60 years ago, and North Korea and Kim Jong-Il likely decided it was an opportune time to remind the world of what they claimed was 5 million North Koreans “dead, wounded, kidnapped or missing.” In addition, they claim that U.S. sanctions have made their economic recovery nearly impossible. These sanctions date before North Korea’s first nuclear test in 2006, according to KCNA. None of this takes into account any of the suffering numerous world sources show that North Korea inflicted upon its own people.

Citations~More information on this topic~Read more on this topic here~Find more information on this topic~Additional information at these websites

Australian Broadcasting Company

abc.net.au/news/stories/2010/06/24/2936414.htm

Wikipedia

en.wikipedia.org/wiki/Human_rights_in_North_Korea

Korean Studies Review

koreaweb.ws/ks/ksr/ksr06-04.htm

Visit North Korea:

youtube.com/watch?v=FJ6E3cShcVU

Touted as big win for consumers is Financial reform bill agreement

Friday, congressional negotiators announced a financial reform bill agreement. It will be voted on by the House and Senate next week. If it passes, the financial reform bill changes most of the rules that form the relationship between financial institutions and consumers. Some feel consumers will win big with the bill. Others feel consumers will be shafted.

Article Resource: Financial reform bill agreement touted as a big win for consumers by Personal Money Store

New consumer protection agency

The financial reform bill gives consumers a new agency to watch for their interests. The Consumer Financial Protection Bureau will monitor loan products to keep consumers safe. Business Week reports that Democrats defeated all of the Republican efforts to scale back the powers of the proposed consumer agency. But the financial reform bill sets up a bureau with independent funding. It will be part of the Federal Reserve and also has the power to enforce rules banning abusive practices in credit-card and mortgage lending.

Fiduciary standards hurt consumers?

A provision in the financial reform bill that requires all of the brokers to abide by a fiduciary standard when they give investment advice has those in that industry crying foul. David Loeper of Forbes says that part of the financial reform bill might just hurt the protection of consumers. He feels that way because the bill requires brokers to be held to a fiduciary standard enforced by the Securities and Exchange Commission, just as investment advisers are today. As reported by Loeper, that means consumers won’t be able to tell the difference between brokers and investment advisers. Apparently he believes that being able to trust both species equally isn’t a good thing.

Consumer agency consolidates oversight

The financial reform bill’s Bureau of Consumer Financial Protection would like to consolidate oversight of a wide variety of financial products, including mortgages, credit cards and payday loans. ABC News reports that responsibility for these areas is scattered across a variety of government agencies. Experts say that creating a single supervisor will help make financial products easier to understand and not take unfair advantage of borrowers.

Consumer protection leadership

The consumer Financial Protection Bureau was designed by Elizabeth Warren, a Harvard Professor who is chairwoman of the congressional oversight panel for the Troubled Asset Relief Program (TARP), the $700 billion government bailout of the financial industry. Democratic Senator Sherrod Brown of Ohio explained to Business week that he “would love” to see Warren appointed to head the agency. Brown said he knew people who wanted Warren to be in charge.

You should never mess with Elizabeth Warren

Warren, who specializes in bankruptcy and also in consumer law, called for regulations to limit all credit-card contracts to a short, easy-to-read document, curb bank overdraft fees and make online credit scores free. In an interview with USA Today she said:

“I discovered the extent to which the business model of selling debt to middle-class families has changed over the past 20 years. The credit card companies and other lenders moved to a tricks and traps pricing model. The fees, the interest rate hikes and all the other surprises in the fine print have left families increasingly vulnerable. I watched hardworking, play-by-the-rules middle-class families collapse financially, and that led me to study the consumer credit market and eventually to the idea behind the consumer financial protection agency.”

Additional information at these websites

Business Week

businessweek.com/news/2010-06-22/warren-should-head-new-consumer-agency-brown-says.html

Forbes

blogs.forbes.com/investor/2010/06/25/financial-reform-bill-will-shaft-consumers/

ABC News

abcnews.go.com/Business/article/financial-reform-bill-means-big-consumers/story?id=11012343&page=1

USA Today

usatoday.com/money/companies/regulation/2010-06-24-warren24_ST_N.htm

Car battery switch out - what you have to know

It’s a sound (or rather, lack of a sound) that everyone dreads. It's very frustrating to hear a click-click whenever you make an effort to start your car. It could mean that you just left the lights on overnight, or it could mean that your battery is dying. Knowing when to replace your car battery can help cut down on these unfortunately surprising moments of being stranded.

Source of article: When to swap out your car battery by Car Deal Expert

The way a car battery operates

The essential essence of a car battery is the same. Chemical energy is created when diluted sulfuric acid runs across and around lead plates. Whenever you ask the battery for power, it converts that chemical energy to electric energy. When the lead runs out of chemical energy, they have to be recharged. The battery eventually simply wears out, and will need to be replaced.

Knowing when to replace the battery

If you drive you car under unusually rough conditions, you’ll need to replace it as often as each and every two years. Most batteries, under average driving load, will last up to six years. “Heavy” or “taxing” usage of your car battery could include things such as

:

• Driving or storing your battery in extreme cold (such as hard winters)
• Not refilling the battery with distilled water regularly
• Running energy-expensive add-ons, like alarm systems, off your battery
• Regularly jump-starting others

Any maintenance shop should be able to test the battery for you. Check out the alternator if your battery tests low – just to make certain that isn't a mechanical problem.

Recycling your old car battery

Old car batteries, even if they’re not holding a charge, can nevertheless be useful. A car battery could be environmentally damaging if you just throw it away. Take the battery to a recycling center. A recycled battery would be worth a few dollars .

Kelloggs recalls cereals reported to cause vomiting and diarrhea

A Kellogg’s recall of breakfast cereals was released Friday after many complaints that a noxious stench and offensive flavors experienced with various of the cereals caused diarrhea and vomiting in some instances. About 28 million boxes of breakfast cereal marketed to kids were voluntarily recalled by the Kellogg Business.

Article source: Kelloggs recalls cereals reported to cause vomiting and diarrhea by Personal Money Store

28 million boxes of cereal in Kellogg's recall

The Kellogg’s recall involves about 28 million boxes of Apple Jacks, Corn Pops, Froot Loops and Honey Smacks. The Associated Press reports that the company volunteered to pull the cereals off the shelves because a “waxy” smell and flavor coming from the package liners could make people sick. J. Adaire Putnam, a Kellogg's spokesperson, said the business received about 20 complaints, of which five incorporated vomiting and diarrhea.

Froot Loops win Smart Choice label

The Kellogg’s recall involves Froot Loops, a cereal brand that has been the subject of a few controversies. Foodpolitics.com reports that Froot Loops had been reformulated to contain 3 grams of fiber to win an endorsement from the American Society of Nutrition (ACN), which is manages the Intelligent Choices program. To win the Smart Choices label, apparently Kellogg's and other participating companies pay $100,000 to ACN. Froot Loops turn out to be not so smart as a nutritional choice, having no fruit, carrying 41 percent of their weight in sugar, packing 44 percent of their calories in sugar and containing a substance that increases the risk of coronary heart disease—trans fat.

Within the (froot) loop – USDA

The Wall Street Journal reports that Putnam said the offending smells and flavors emanated from plastic liners within the boxes. The bags were first used in cereal boxes in late March. In the next a number of months, consumer complaints mounted. After launching the recall, Kellogg's notified the U.S. Food and Drug Administration.

Kellogg’s recall – who to call>

Consumers can contact Kellogg at 888-810-4163 from 8 a.m. to 8 p.m. Eastern time to learn more about the recall or get a refund. Products affected by the recall are marked with the letters "KN" following the "better if used before" date on the box.

Discover a lot more about this topic here:

www.google.com/hostednews/ap/article

Foodpolitics.com

wsj.com

Transmission trouble - What every car owner must know

Transmission trouble is something no car owner wants to hear. Yet the truth is that most simply know that is sounds expensive. However, with some basic transmission knowledge and proper transmission maintenance, replacing a transmission can be avoided until absolutely necessary. For some cars, that time may come around 200,000 miles, although as you’ll see, there are many variables involved that can lessen that figure. There are some transmissions that only make it to the 80,000-mile mark.

Resource for this article: Transmission trouble – What every car owner must know by Car Deal Expert

Transmission trouble won’t visit so often if care is taken

Part of avoiding transmission trouble involves understanding what a transmission does for your car. It is the lynchpin of your car’s drivetrain, the system that generates power and gets your car going. Transmissions may be automatic or manual, but both work to shift gears and maintain momentum of the car on a variety of elevations, at various speeds and on different road surfaces.

While all of the internal workings of a transmission are somewhat complex, here are the four basic systems, as outlined by About.com:

1. Bell housing: The cone-shaped metal casing. If your car is front-wheel drive, it will be visible under the hood and off to the side of the engine. Rear-wheel drive cars house the transmission under the car and behind the engine.
2. Gears: These are broken down into main and planetary segments. These are essential to an engine’s function.
3. Fluid: The red fluid in an automatic transmission. It lubricates the gears of an automatic transmission so that excessive heat build-up doesn’t cause the parts to break down and cause real transmission trouble.
4. Filter: Eventually, transmission fluid becomes dirty and needs to be changed. The transmission filter catches particles and build-up. Many early transmission trouble issues can be helped by changing the filter

How long does a transmission last?

”As long as possible” is the hope for those who keep up with fluid and filter changes. But the real answer depends upon your driving habits, driving environment, type of fluid used and the physical construction of your transmission (beyond your control). Build quality is often beyond one’s control, so focus on the other aspects is best.

According to How Stuff Works, transmission fluid should be checked and changed regularly, at least twice per year if not more often. Hard city driving and 90-plus-degree Fahrenheit temperatures warrant at least a 15,000-mile changing schedule. There are 50 or more transmission fluid grades to provide the proper amount of lubrication for your car’s specific gear settings. Consulting your auto owner’s manual is advisable here.

Do you notice a fluid leak?

If your transmission doesn’t seem to shift clearly, transmission trouble could be on the horizon. According to How Stuff Works, some places to check for red fluid leaks include:

< li>Filler tube base
• Drain hole on the underbelly
• Between transmission and engine
• Selector shaft – where the shift connects to the tranny
• Speed sensor – Either mounted on the housing or the spot where a cable connects
• Radiator – Look for red fluid mixed with the water/antifreeze

Serious transmission trouble? Avoid DIY

If changing the fluids and filter aren’t enough, seriously consider using an ASE-certified mechanic who has access to Blue Seal repair digs. Expect costs in the neighborhood of $ 1,800 to $ 3,500 when replacing a transmission, advises Cost Helper. That will depend on labor costs and vehicle make, it should be known. A limited warranty on the new transmission is quite desirable to essential here. Rule of thumb is the more your car costs, the more it will cost to replace the transmission.

Read more on this topic here

http://www.costhelper.com/cost/cars/transmission.html

http://autorepair.about.com/od/troubleshooting/a/auto_tran_probs.htm

http://auto.howstuffworks.com/under-the-hood/car-part-longevity/how-long-transmissions-last.htm

The want to defer strategic default with consequences by Fannie Mae

Fannie Mae is upping the bet on strategic default of home mortgages Wednesday, saying that borrowers who default despite having ability to pay in good faith won’t be eligible for a new Fannie Mae-backed mortgage for seven years from the date of foreclosure. Home foreclosures and strategic defaults are both increasing. There are a lot of offers online to help in strategic default. Last week the House passed the FHA Reform Act that ended up having a provision for penalizing strategic defaulters in the bill.

Source for this article: {Strategic default consequences

Fannie Mae, which owns or guarantees more than 50 percent of mortgages in the U.S., wants more severe strategic default consequences. It is now refusing to back new loans for walk-away borrowers for seven years after they abandon their homes. In a press release, Terence Edwards, executive vice president for credit portfolio management at Fannie Mae, said "Walking away from a mortgage is bad for borrowers and bad for communities, and our approach is meant to deter the disturbing trend toward strategic defaulting. On the flip side, borrowers facing hardship who make a good faith effort to resolve their situation with their servicer will preserve the option to be considered for a future Fannie Mae loan in a shorter time frame."

Strategic defaulters sued by Fannie Mae

In the press release, Fannie Mae, said it may also sue to recoup the outstanding mortgage debt from borrowers who strategically default on their loans in jurisdictions that allow for deficiency judgments. In an announcement that can be given next month, the company could be instructing its servicers to monitor delinquent loans facing foreclosure and make recommendations for strategic default cases that warrant the pursuit of deficiency judgments.

Strategic default definition

The strategic default issue is a thorny one because of the challenge to define what makes a default strategic. The Washington Independent reports that strategic defaulters aren’t breaching their contracts. Each mortgage contract defines what is going to happen if the borrowers do not pay: the bank evicts them and takes the home. It is very doubtful the government could stipulate that homeowners have to hand over the last of their savings to the bank before they can walk away, or that they have to be hand over a certain percentage of their annual income before they walk away. The money individuals have left might be used to move to an apartment, pay any of their medical bills or to purchase shoes for their kids.

Citations
Fannie Mae

fanniemae.com/newsreleases/2010/5071.jhtml

Washington Independent

washingtonindependent.com/87943/when-underwater-homeowners-walk-away

Reduce debt with a carefully prepared debt consolidation loan

To simplify your debt, debt consolidation loans work. But when it comes to debt relief, it is only the first step. It doesn't make any sense to get a consolidation loan without changing your spending habits, because otherwise you're simply trying to borrow your way out of debt. Debt consolidation makes sense if, by grouping all individual forms of debt into one place, the rate of interest is lower. But you could end up paying a lot more in the long run if the rate of interest is only lower because the term is longer.

{|Source for this article: For real debt reduction, plan your debt consolidation carefully by Personal Money Store

Plan ahead for worthwhile debt consolidation

Debt consolidation takes careful preparing to conserve on interest and get out of debt faster. Numerous free debt consolidation calculators are accessible online. You are able to figure out all the factors that will determine if debt consolidation will work using these tools. Make a plan of action by experimenting with a variety of interest, payment and term combinations.

Top opportunities for debt consolidation

A variety of debt consolidation options can work for you. Some of the best debt consolidation options are listed by M.P. Dunleavy at MSN MoneyCentral. When you have equity as part of your home, explore a home equity loan. Home equity loan interest rates are low (high single digits) and the money you pay in interest is tax deductible. A secured loan you probably don't think about is your car, which you are able to refinance for cash to pay down debt. A personal cash loan can be a good option because the rate of interest can be a lot less that what you’re paying to the credit card company.

Debt relief can grow like a rolling snowball

When it comes to debt consolidation, many financial advisers believe that for real debt reduction, you have to formulate a plan to settle each debt separately. Financial adviser Dave Ramsey likes what he calls the “snowball approach. The snowball approach pays off debts one by one, from small to large. List your debts in order from small to large. Start with the smallest debt as the first priority. The snowball approach motivates you with success by paying down the simplest debts first. The debt snowball works for dealing with debt, but it takes many financial discipline, budgeting and saving money.

Citations

moneycentral.msn.com

daveramsey.com