Hard Times are Good Times at the Pawnshop
from MSNBC
At People’s Pawn in Springfield, Mass., the collection of DVD players, televisions and other electronics just keeps getting bigger. As many as 200 people a day come in to "sell all their stuff so they can get gas money," said Efren Rivera, an employee at the pawnshop. "Some people have to pay their mortgages." More
‘Like a Bank’
from the Atlanta Journal-Constitution
Jenna Feistkorn relinquished a working laptop for just $40. The exchange at an Alpharetta, Ga., pawnshop left her frustrated, but not ashamed. She needs the computer to look for a job. But it will remain off-limits until next week, when her father gets paid and can repay her loan. More
Gold Jumps 3 Percent as Investors Pick Up Bargains
from Reuters
Gold jumped more than 3 percent on bargain hunting on Monday as a 9 percent fall in prices last week, a recovery in crude oil prices and a weaker dollar against the euro gave investors enough reasons to step into the market. Gold's strength spurred gains in other precious metals. More
Pawnshop Shelves Full of Tough-luck Economic Stories
from Michigan Live
On a recent Tuesday, Jeremy Swanson bought back a leaf blower he hocked to a Wyoming pawnbroker. He pocketed $50 two weeks earlier, and now he forks out that plus 35 percent interest to get it back – a total of $67.50. Welcome to hard times in Anytown USA, where a rough economy has some people digging deep to sell treasures and necessities in last-ditch efforts to pay for everything from gasoline to utilities. More
Pawnshops Thrive in Downturn
from the Daily Herald
Pawnshops locally and across the country are seeing brisk business as tight credit conditions drive more people to pawn their belongings for quick cash to pay for groceries, gas, prescriptions and rent. Some pawnbrokers say they are getting a lot more of unexpected items from people hoping to cash in on the boom in precious metals like gold and silver. More
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Inventory of Jewelry Increasing at Local Pawnshops
from the Grand Junction Sentinel
With the economy flailing, operators of some local pawn shops are receiving an influx of jewelry as diamonds and gold become unnecessary luxuries. Turquoise, diamonds and Black Hills gold and silver have been pouring into several jewelry shops at a rate of anywhere between 10 and 30 percent more than area pawnbrokers are used to seeing. More
Government Might Use $2 trillion to Back Up Banks
from The Miami Herald
The government might guarantee nearly $2 trillion in U.S. banks' debt and deposit accounts for more than three years in an effort to break the crippling logjam in bank-to-bank lending. The guarantees on bank-to-bank loans and other accounts could help banks and small businesses. More
Struggling Treasure Coast Residents Turning to Pawnshops to Get By
from the Sun-Sentinel
Electric saws, power drills and toolboxes are piling up in pawnshops on the Treasure Coast. Tools once used in a job to put food on the table are still doing that as their owners pawn them for cash to pay for necessities. More
Bad Economy Means Good Revenue for Pawnshops
from KAAL-TV
With the economy in the tank and the market in a meltdown, many people are looking for some quick cash to make ends meet. Hard times are turning into good times at pawnshops. More
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