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Breaking News Home | All | Religion | Society | Tech | Choice | Fridays | SA Newsroom
FRONT PAGE  |  2/17/2019
TUESDAY, MAR 6, 2018  |  3 comments
The wealthy are using pawn shops to finance their business ideas

Wealthy people looking to fund new ventures are turning to their Rolexes and art collections as collateral for quick and easy loans from high-end pawn shops.

The handful of lending companies tapping into the trend let their affluent clients take quick thousand-dollar or million-dollar loans with high-end collectibles as collateral. That's far greater than the average loan size of $150, according to the National Pawnbrokers Association. Business owners say the way the luxury goods-backed loans are growing points less to the financial distress associated with pawn shops and more to seize money-making opportunities.

The pickup in economic growth has shifted the balance toward small business owners growing their businesses, said Jordan Tabach-Bank, CEO of Beverly Hills-based The Loan Companies. ...


CLICK HERE to Read Entire Article
www.cnbc.com

Response to economic crisis?
  START  
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News Item3/6/18 3:10 PM
My Own 2 cents  Find all comments by My Own 2 cents
Youth in Asia:
"...life in Kenya for her is terrible, no jobs, no opportunities."

Wow. That's the Devils prosperity gospel for ya.
Amazing. Sad.

3

News Item3/6/18 10:16 AM
The Quiet Christian  Find all comments by The Quiet Christian
Youth in Asia wrote:
Sometimes I feel as the only one whose heart is burdened.
You are not alone in your concern, YIA, and neither is the woman whom you spoke with alone in her sufferings and sorrows:

Seeing then that we have a great high Priest, which is entered into heaven, even Jesus the Son of God, let us hold fast our profession. For we have not an high Priest, which cannot be touched with the feeling of our infirmities, but was in all things tempted in like sort, yet without sin. Let us therefore go boldly unto the throne of grace, that we may receive mercy, and find grace to help in time of need. (Hebrews 4:14-16).

Perhaps the Lord will use this woman's situation to teach her that the Kingdom of God is not about possessions in this world or our "Best Life Now" but our best life, in and through Christ Jesus, to come in the world to come.

Many seek to be rich in mammon and possessions, and there are those who will peddle a supposed message of God that falsely proclaims such riches are within our reach, following Christ for another full stomach. Jesus taught us instead to "seek ye first the Kingdom of God and His righteousness" and all the things needed (not wanted) of life will be added unto you.

2

News Item3/6/18 2:36 AM
Youth in Asia | Asia  Find all comments by Youth in Asia
The rich making others rich. Yesterday I got in contact with lady from Kenya, she was into prosperity gospel especially of Joel Osteen, anyways she got the boot from china recently, and said life in Kenya for her is terrible, no jobs, no opportunities. I felt so sad, I told her I will pray for her and keep her in my memory. I told a local Kenyan Christian, and even he had no burden or even Pity for her. Sometimes I feel as the only one whose heart is burdened.
1
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