The Florida Council on Economic Education says personal bankruptcies have increased 2200 percent in the last 40 years. That’s one reason why the council is leading a campaign called Require The Money Course.
Bills filed in the Florida House and Senate would require high school students to take a one-semester financial literacy course. But with just three weeks left in the legislative session, the proposals (House bill 29 and Senate bill 92) haven’t been discussed by committees.
Originally published on Fri October 17, 2014 9:36 am
A few years back, James Nelms opened his own debt collection business. He didn't have a fancy resume, or much money. He was an ex-con whose siblings staked him $10,000 to get his business up and running.
This isn't as odd as it may seem. Many debt collection agencies are small businesses, eking out a living in storefront shops. A few years back, when the world was going wild for debt, lots of people were getting into the business. All that debt meant lots of money to be collected.
Argentina is no stranger to financial crisis. But an unprecedented drama is playing out there this summer, one that could alter the rules in global debt markets – and boost the sales in South Florida condo markets, as more Argentines look for safer places to put their money amid the turmoil.
At issue is $100 billion: the mountain of sovereign debt Argentina defaulted on in 2001 amid a horrific economic collapse. It was the largest default in history.
The debate in Congress over raising the debt ceiling was focused on the $16.7 trillion borrowing limit. That's a huge number that has been increasing rapidly since the Great Recession. The chart above from the U.S. Federal Reserve shows the federally reported public debt jumping from $6 trillion after the 2001 recession to almost $17 trillion this fall.