'Fringe Economy' Goes Mainstream

1 view
Skip to first unread message

Bret Ludwig

Dec 30, 2006, 9:10:05 PM12/30/06

'Fringe Economy' Goes Mainstream

Dollar stores and check-cashers, as far as the eye can, broken only by
public skools and strip clubs.

Morning in AmeriKwa, itz.

Living in America's Fringe Economy
By Howard Karger
Dollars and Sense

Friday 29 December 2006

Ron Cook is a department manager at a Wal-Mart store in Atlanta. Maria
Guzman is an undocumented worker from Mexico; she lives in Houston with
her three children and cleans office buildings at night. Marty Lawson
works for a large Minneapolis corporation. (The names have been changed
to protect the privacy of the individuals.) What do these three people
have in common? They are all regular fringe economy customers.

The term "fringe economy" refers to a range of businesses that
engage in financially predatory relationships with low-income or
heavily indebted consumers by charging excessive interest rates,
superhigh fees, or exorbitant prices for goods or services. Some
examples of fringe economy businesses include payday lenders,
pawnshops, check-cashers, tax refund lenders, rent-to-own stores, and
"buy-here/pay-here" used car lots. The fringe economy also includes
credit card companies that charge excessive late payment or
over-the-creditlimit penalties; cell phone providers that force less
creditworthy customers into expensive prepaid plans; and subprime
mortgage lenders that gouge prospective homeowners.

The fringe economy is hardly new. Pawnshops and informal high-interest
lenders have been around forever. What we see today, however, is a
fringe-economy sector that is growing fast, taking advantage of the
ever-larger part of the U.S. population whose economic lives are
becoming less secure. Moreover, in an important sense the sector is no
longer "fringe" at all: more and more, large mainstream financial
corporations are behind the high-rate loans that anxious customers in
run-down storefronts sign for on the dotted line.

The Payday Lending Trap

Ron and Deanna Cook have two children and a combined family income of
$48,000 - more than twice the federal poverty line but still $10,000
below Georgia's median income. They are the working poor.

To make ends meet, the Cooks borrow from payday lenders. When Ron and
Deanna borrow $300 for 14 days they pay $60 in interest - an annual
interest rate of 520%! If they can't pay the full $360, they pay just
the $60 interest fee and roll over the loan for another two weeks. The
original $300 loan now costs $120 in interest for 30 days. If they roll
over the loan for another two-week cycle, they pay $180 in interest on
a $300 loan for 45 days. If the payday lender permits only four
rollovers, the Cooks sometimes take out a payday loan from another
lender to repay the original loan. This costly cycle can be
devastating. The Center for Responsible Lending tells the tale of one
borrower who entered into 35 back-to-back payday loans over 17 months,
paying $1,254 in fees on a $300 loan.

The Cooks take out about ten payday loans a year, which is close to the
national average for payday loan customers. Although the industry
claims payday loans are intended only for emergencies, a 2003 study of
Pima County, Ariz., by the Financial services for the poor and
credit-challenged are big business.

Southwest Center for Economic Integrity found that 67% of borrowers
used their loans for general non-emergency bills. The Center for
Responsible Lending found that 66% of borrowers initiate five or more
loans a year, and 31% take out twelve or more loans yearly. Over 90% of
payday loans go to borrowers with five or more loans a year. Customers
who take out 13 or more loans a year account for over half of payday
lenders' total revenues.

The Unbanked

Maria Guzman and her family are part of the 10% of U.S. households -
more than 12 million - that have no relationship with a bank, savings
institution, credit union, or other mainstream financial service
provider. Being "unbanked," the Guzmans turn to the fringe economy
for check cashing, bill payment, short-term pawn or payday loans,
furniture and appliance rentals, and a host of other financial
services. In each case, they face high user fees and exorbitant
interest rates.

Without credit, the Guzmans must buy a car either for cash or through a
"buy-here/pay-here" (BHPH) used car lot. At a BHPH lot they are
saddled with a 28% annual percentage rate (APR) on a high-mileage and
grossly overpriced vehicle. They also pay weekly, and one missed
payment means a repossession. Since the Guzmans have no checking
account, they use a check-casher who charges 2.7% for cashing their
monthly $1,500 in payroll checks, which costs them $40.50 a month or
$486 a year.

Like many immigrants, the Guzmans send money to relatives in their home
country. (Money transfers from the United States to Latin America are
expected to reach $25 billion by 2010.) If they sent $500 to Mexico on
June 26, 2006, using Western Union's "Money in Minutes," they
would have paid a $32 transfer fee. Moreover, Western Union's
exchange rate for the transaction was 11.12 pesos for the U.S. dollar,
while the official exchange rate that day was 11.44. The difference on
$500 was almost $14, which raised the real costs of the transaction to
$46, or almost 10% of the transfer amount. Without a checking account,
the Guzmans turn to money orders or direct bill pay, both of which add
to their financial expenses. For example, ACE Cash Express charges 79
cents per money order and $1 or more for each direct bill payment. If
the Guzmans use money orders to pay six bills a month, the fees total
nearly $57 a year; using direct bill pay, they would pay a minimum of
$72 in fees per year.

All told, the Guzmans spend more than 10% of their income on
alternative financial services, which is average for unbanked
households. To paraphrase James Baldwin, it is expensive to be poor and
unbanked in America.

The Cooks and the Guzmans, along with people like Marty Lawson caught
in a cycle of credit card debt (see sidebar), may not fully appreciate
the economic entity they are dealing with. Far from a mom-and-pop
industry, America's fringe economy is largely dominated by a handful
of large, well-financed multinational corporations with strong ties to
mainstream financial institutions. It is a comprehensive and fully
formed parallel economy that addresses the financial needs of the poor
and credit-challenged in the same way as the mainstream economy meets
the needs of the middle class. The main difference is the exorbitant
interest rates, high fees, and onerous loan terms that mark fringe
economy transactions.

The Scope of the Fringe Economy

The unassuming and often shoddy storefronts of the fringe economy mask
the true scope of this economic sector. Checkcashers, payday lenders,
pawnshops, and rent-to-own stores alone engaged in at least 280 million
transactions in 2001, according to Fannie Mae Foundation estimates,
generating about $78 billion in gross revenues. By comparison, in 2003
combined state and federal spending on the core U.S. social welfare
programs - Temporary Aid to Needy Families (AFDC's replacement),
Supplemental Security Income, Food Stamps, the Women, Infants and
Children (WIC) food program, school lunch programs, and the U.S.
Department of Housing and Urban Development's (HUD) low-income
housing programs - totaled less than $125 billion. Revenues in the
combined sectors of the fringe economy - including subprime home
mortgages and refinancing, and used car sales - would inflate the $78
billio? several times over and eclipse federal and state spending on
the poor.

There can be no doubt that the scope of the fringe economy is enormous.
The Community Financial Services Association of America claims that
15,000 payday lenders extend more than $25 billion in short-term loans
to millions of households each year. According to Financial Service
Centers of America, 10,000 check-cashing stores process 180 million
checks with a face value of $55 billion.

The sheer number of fringe economy storefronts is mindboggling. For
example, ACE Cash Express - only one of many such corporations - has 68
locations within 10 miles of my Houston zip code. Nationwide there are
more than 33,000 check-cashing and payday loan stores, just two parts
of the fringe economy. That's more than the all the McDonald's and
Burger King restaurants and all the Target, J.C. Penney, and Wal-Mart
retail stores in the United States combined. ACE Cash Express is the
nation's largest check-casher and exemplifies the growth and
profitability of the fringe economy. In 1991 ACE had 181 stores; by
2005 it had 1,371 stores with 2,700 employees in 37 states and the
District of Columbia. ACE's revenues totaled $141 million in 2000 and
by 2005 rose to $268.6 million. In 2005 ACE:

* cashed 13.3 million checks worth approximately $5.3 billion
(check cashing fees totaled $131.6 million);
* served more than 40 million customers (3.4 million a month or
11,000 an hour) and processed $10.3 billion in transactions;
* processed over 2 million loan transactions (worth $640 million)
and generated interest income and fees of $91.8 million;
* added a total of 142 new locations (in 2006 the company
anticipates adding 150 more);
* processed over $410 million in money transfers and 7.6 million
money orders with a face value of $1.3 billion;
* processed over 7.8 million bill payment and debit card
transactions, and sold approximately 172,000 prepaid debit cards.

Advance America is the nation's leading payday lender, with 2,640
stores in 36 states, more than 5,500 employees, and $630 million this
year in revenues. Dollar Financial Corporation operates 1,106 stores in
17 states, Canada, and the United Kingdom. Their 2005 revenues were
$321 million. Check-into-Cash has more than 700 stores; Check N' Go
has 900 locations in 29 states. Almost all of these are publicly traded
NASDAQ corporations.

There were 4,500 pawnshops in the United States in 1985; now there are
almost 12,000, including outlets owned by five publicly traded chains.
In 2005 the three big chains - Cash America International (a.k.a Cash
America Pawn and Super- Pawn), EZ Pawn, and First Cash - had combined
annual revenues of nearly $1 billion. Cash America is the largest
pawnshop chain, with 750 locations; the company also makes payday loans
through its Cash America Payday Advance, Cashland, and Mr. Payroll
stores. In 2005, Cash America's revenues totaled $594.3 million.

The Association of Progressive Rental Organizations claims that the
$6.6 billion a year rent-to-own (RTO) industry serves 2.7 million
households through 8,300 stores in 50 states. Many RTOs rent everything
from furniture, elec tronics, major appliances, and computers to
jewelry. Rent- A-Center is the largest RTO corporation in the world. In
2005 it employed 15,000 people; owned or operated 3,052 stores in the
United States and Canada; and had revenues of $2.4 billion. Other
leading RTO chains include Aaron Rents (with 1,255 stores across the
United States and Canada and gross revenues of $1.1 billion in 2005)
and RentWay (with 788 stores in 34 states and revenues of almost $516
million in 2005).

These corporations represent the tip of the iceberg. Low-income
consumers spent $1.75 billion for tax refund loans in 2002. Many lost
as much as 16% of their tax refunds because of expensive tax
preparation fees and/or interest incurred in tax refund anticipation
loans. The interest and fees on such loans can translate into
triple-digit annualized interest rates, according to the Consumer
Federation of America, which has also rep?rted that 11 million tax
filers received refund anticipation loans in 2000, almost half through
H&R Block. According to a Brookings Institution report, the nation's
largest tax preparers earned about $357 million from fringe economy
"fast cash" products in 2001, more than double their earnings in
1998. All for essentially lending people their own money!

The fringe economy plays a big role in the housing market, where
subprime home mortgages rose from 35,000 in 1994 to 332,000 in 2003, a
25% a year growth rate and a tenfold increase in just nine years. (A
subprime loan is a loan extended to less creditworthy customers at a
rate that is higher than the prime rate.) According to Edward Gramlich,
former member of the Board of Governors of the Federal Reserve System,
subprime mortgages accounted for almost $300 billion or 9% of all
mortgages in 2003.

While the fringe economy squeezes its customers, it is generous to its
CEOs. According to Forbes, salaries in many fringe economy corporations
rival those in much larger companies. In 2004 Sterling Brinkley,
chairman of EZ Corp, earned $1.26 million; ACE's CEO Jay Shipowitz
received $2.1 million on top of $2.38 million in stocks; Jeffrey Weiss,
Dollar Financial Group's CEO, earned $1.83 million; Mark Speese,
Rent-A-Center's CEO, made $820,000 with total stock options of $10
million; and Cash America's CEO Daniel Feehan was paid almost $2.2
million in 2003 plus the $9 million he had in stock options.

Fringe-economy corporations argue that the high interest rates and fees
they charge reflect the heightened risks of doing business with an
economically unstable population. While fringe businesses have never
made their pricing criteria public, some risks are clearly overstated.
For example, ACE assesses the risk of each check-cashing transaction
and reports losses of less than 1%. Since tax preparers file a
borrower's taxes, they are reasonably assured that refund
anticipation loans will not exceed refunds. To further guarantee
repayment, they often establish an escrow account into which the IRS
directly deposits the tax refund check. Pawnshops lend only about 50%
of a pawned item's value, which leaves them a large buffer if the
pawn goes unclaimed (industry trade groups claim that 70% of customers
do redeem their goods). The rent-to-own furniture and appliance
industry charges well above the "street price" for furniture and
appliances, which is more than enough to offset any losses. Payday
lenders require a post-dated check or electronic debit to assure
repayment. Payday loan losses are about 6% or less, according to the
Center for Responsible Lending.

Much of the profit in the fringe economy comes from financing rather
than the sale of a product. For example, if a used car lot buys a
vehicle for $3,000 and sells it for $5,000 cash, their profit is
$2,000. But if they finance that vehicle for two years at a 25% APR,
the profit jumps to $3,242. This dynamic is true for virtually every
sector of the fringe economy. A customer who pays off a loan or
purchases a good or service outright is much less profitable for fringe
economy businesses than customers who maintain an ongoing financial
relationship with the business. In that sense, profit in the fringe
economy lies with keeping customers continually enmeshed in an
expensive web of debt.

Funding and Exporting America's Fringe Economy

Fringe economy corporations require large amounts of capital to fund
their phenomenal growth, and mainstream financial institutions have
stepped up to the plate. ACE Cash Express has a relationship with a
group of banks including Wells Fargo, JP Morgan Chase Bank, and JP
Morgan Securities to provide capital for acquisitions and other

Advance America has relationships with Morgan Stanley, Banc of America
Securities LLC, Wachovia Capital Markets, and Wells Fargo Securities,
to name a few. Similar banking relationships exist throughout the
fringe economy.

The fringe economy is no longer solely a U.S. phenomenon. In 2003 the
HSBC Group purchased Household Internatio?al (and its subsidiary
Beneficial Finance) for $13 billion. Headquartered in London, HSBC is
the world's second largest bank and serves more than 90 million
customers in 80 countries. Household International is a U.S.-based
consumer finance company with 53 million customers and more than 1,300
branches in 45 states. It is also a predatory lender. In 2002, a $484
million settlement was reached between Household and all 50 states and
the District of Columbia. In effect, Household acknowledged it had
duped tens of thousands of low-income home buyers into loans with
unnecessary hidden costs. In 2003, another $100 million settlement was
reached based on Household's abusive mortgage lending practices.

HSBC plans to export Household's operations to Poland, China, Mexico,
Britain, France, India, and Brazil, for starters. One shudders to think
how the fringe economy will develop in nations with even fewer
regulatory safeguards than the United States. Presumably, HSBC also
believes that predatory lending will not tarnish the reputation of the
seven British lords and one baroness who sit on its 20-member board of

What Can Be Done?

The fringe economy is one of the few venues that creditchallenged or
low-income families can turn to for financial help. This is especially
true for those facing a penurious welfare system with a lifetime
benefit cap and few mechanisms for emergency assistance. In that sense,
enforcing strident usury and banking laws to curb the fringe economy
while providing no legal and accessible alternatives would hurt the
very people such laws are intended to help by driving these
transactions into a criminal underground. Instead of ending up in
court, non-paying debtors would wind up in the hospital. Simply
outlawing a demand-driven industry is rarely successful.

One strategy to limit the growth of the fringe economy is to develop
more community-based lending institutions modeled on the Grameen Bank
or on local cooperatives. Although community banks might charge a
higher interest rate than commercial banks charge prime rate customers,
the rates would still be significantly lower than in the existing
fringe sector.

Another policy option is to make work pay, or at least make it pay
better. In other words, we need to increase the minimum wage and the
salaries of the lower middle class and working poor. One reason for the
rapid growth of the fringe economy is the growing gap between low and
stagnant wages and higher prices, especially for necessities like
housing, health care, pharmaceuticals, and energy.

Stricter usury laws, better enforcement of existing banking
regulations, and a more active federal regulatory system to protect
low-income consumers can all play a role in taming the fringe economy.
Concurrently, federal and state governments can promote the growth of
non-predatory community banking institutions. In addition, commercial
banks can provide low-income communities with accessible and
inexpensive banking services. As the "DrillDown" studies conducted
in recent years by the Washington, D.C., nonprofit Social Compact
suggest, low-income communities contain more income and resources than
one might think. If fringe businesses can make billions in low-income
neighborhoods, less predatory economic institutions should be able to
profit there too. Lastly, low and stagnant wages make it difficult, if
not impossible, for the working poor to make ends meet without
resorting to debt. A significant increase in wages would likely result
in a significant decline in the fringe economy. In the end, several
concerted strategies will be required to restrain this growing and
out-of-control economic beast.


Howard Karger is professor of social work at the University of Houston,
and author of Shortchanged: Life and Debt in the Fringe Economy
(Berrett-Koehler, 2005).

9 Responses to "'Fringe Economy' Goes Mainstream"

1. ftwainth Says:
29 December, 2006 at 3:16 pm

Well, all that happened when the genie of usury wass let of the
bottle of the anti-usury laws in the 1980s. And what is required to put
it back is first and foremost, is prohibition of usury and regulation
of interest, and second, developing of community-based financial

Get rid of jews and illegal immigrants and the problems mentioned
in the above article will resolve on their own.

I often fantasize about seeing the subhuman kike scum that run
these shark outfits dragged from their stinking little shops knelt down
in the gutter and having the back of their heads blown out in the
street in full public view. A bit like a scene out of swindlers list or
some other such comedy classic.

I'm not a religious kinda guy by any means but I pray for that
day to arrive
on a very regular basis......

The filthy whore called America that the jews have been used to
turn tricks with is becoming more skanky and nasty by the day, and one
day soon this abomination will collapse. Filled with filth and filthy
in it's mechanisms, it is just one sick pool of disease that will one
day have to be burned away to sanitize it.
pily ever after next to MARS.

I suspect a more correct formulation is "America's Former
'Mainstream' Economy Declines To Second World Standards."

This reflects, more than anything else, three basic, and
dangerous trends, which will accelerate dramatically in the very near

One, the hollowing out of the American economy, from an economy
that made things, and the best things, at that, to an economy that
provides "services," which can easily be Internetted to Bangalore,
today, and Shanghai, tomorrow.

Two, the tremendous growth of the financial sector of the economy

Leveraged buy-outs are paid for by the liquidation of the
worker's health plan, today, and their pensions, tomorrow. Corporate
pensions have gone from 'defined benefit' to 'defined
contribution,' yet, control has remained in corporate hands, to be
liquidated in favor of the new holder of the corporate shells. Expect
to hear a lot more of two phrases in coming years - "dollar for
dollar offset," usually meaning that an employee's pension has been
reduced 'dollar for dollar' by his Social Security income - THAT
clause is in a lot more contracts than many realize - and 'PBGC
it." This refers to the Pension Benefit Guaranty Corporation, which
"guarantees" certain corporate pensions up to certain limits -
this, too, has a "dollar for dollar offset" against Social

I know a couple who worked for a major steel corporation; after
the buy-out, their combined pensions (after thirty years) went from
$52,000 USD to $24,000 USD - their income was literally cut in half.

Their sense of betrayal is so profound, as the hard work of a
lifetime has been marked to a new market value - cut in less than half.
Oh, by the way, they lost their health benefits in the first round of
the "restructurung" - bankruptcy courts have tremendous powers...

You can expect to see a lot more of that in the years to come.

Third, and this ties in with an issue Peter Shank discussed,
nobody is willing to face up to the net loss of income, and have
substituted "home equity lines" to mask the real reduction in their
standards of living - which they thought would go upwards, forever.

Now, as the market correction to the real estate bubble begins,
all too many will find themselves underwater, all too soon.

THAT is the deeper issue that this story masks - our
unwillingness to admit that the opening of China's economy to our
corporations has been paid for in our standard of living, and, with the
yuan-USD ratio fixed, this trend will only continue to one conclusion.

Two simple changes would do a lot of good.

One, send all of the illegals home, tomorrow at nine. They are
net negatives, heavy users of government services, and minimal

Two, SOMETHING is wrong with the couple mentioned at the
beginning; with an income of $48,000 USD, they should be the last
people to use check cashing places.

They should go to daveramsey.com, and download a FREE copy of
Microsoft MONEY. Putting all of the numbers into Micrsoft MONEY, and
working everything back from there, they can join the fact-based
community, and do what their grandparents did during the Great

They should do these things, while they can.

An extreme case of coping with economic hard times can be seen on
the violentcares.com website, where she describes how she dealt with
the cold, hard truth.

I suspect the couple referred to above have not faced facts, and
this is a shame.

All too soon, the facts will be facing them, and it is much more
difficult to file bankruptcy than it was a few years ago.

We know, of course, that the Goddamn JEWS, the demons who walk
the Earth is shoe leather, are responsible for taking full advantage of
us, yet, in Peter Shank's perfect formulation, "WE LET THIS HAPPEN

Here's your take-home message:

The Way Back is longer than we were told, and The Way Ahead is
harder than we can imagine; yet, only be accepting the hallmark of
Maturity, RESPONSIBILITY, can we get back on the path to RACIAL
Greatness, in the fulfillment of our RACIAL Destiny.

It is our RACIAL duty to Start Where We Are.

If any of us can see ourselves in the situation of the first
couple, the Cooks, then sit down with the daveramsey.com website
TONIGHT, download the FREE version of Microsoft MONEY TONIGHT, and work
the numbers back to the cold, hard truth.

Then, call the family in tomorrow, and explain how The New Order
will turn things around in 2007.

And, if the Dear Wife/Darling Husband complains, tell them they
have to come up with better solutions than you have, and implement them
as ruthlessly, as you will.

I'd like to sit down with the Cooks, their credit reports, and
a Microsoft MONEY print-out of where their money went; using the
daveramsey.com website and my control over their expenditures, I
guarantee you they would be in a much better place in 2008.

And if you aren't, then, like the rest of us, you deserve what
happens to you, and it will NOT be good.

In closing, I'd like to cite a post from Biff Baxter on this

Biff Baxter Says:
6 July, 2006 at 6:19 pm

I'm 100% serious when I say that if the White Race lost 3/4s of
it's population in the coming World War, it would be the greatest
blessing ever bestowed on us. It would improve the gene pool to an
almost unbelievable degree.

Radiation, hunger, disease and natural attrition could do for us
what the glacial periods normally do ... they sharpen and refine our
genes to get rid of the extreme baggage and dirty chromosomal trash
we're dragging with us today. We've gone too long without a cull -
following the Inquisition and three major wars of quality destruction
(one civil, two world wars) has cost us our best elements and whittled
our genetic stock down to where there are a hundred oxygen stealing
slack jawed mental defectives for every white man who can walk and chew
gum at the same time.

I'm not picky - I just want to see whites who can tell me how
many fingers they have and can roughly remember what year it is and
what planet they are on. Such people are a rarified few nowadays and
there is no way this sick, toxic collection of walking excuses for
abortion can preserve this society for much more than the next decade
at the outside.

There's a world war coming, it's going to be nuclear and to
survive it you're going to have to use your real brains, not your TV
brains. Be prepared to batten up when it gets here and survive the
first three years at least. When it's over it will be a whole new
ballgame for those who are still alive.

*end quote*

Well spoken, Brother Baxter.

Of course, I'm assuming the Cook family is White...


New America

An Idea Whose Time Is HERE!


I referred to violentcares.com; the CORRECT name is

New America

An Idea Whose Time Is HERE!

I have relatives in Memphis and was there for the holidays.
Driving around town, you see these payday loan/quick cash-paycheck
advance/pawnshop stores on virtually every corner.

In the nigger areas these are about the only businesses you see,
besides a few liquor stores, dollar stores and cell phone stores.

Hymie has just about squeezed all the real wealth out of this
country. The big veins of wealth have been tapped. All that remains are
the small pickins to be swindled out of the former White middle classes
who see their quality of life declining down to the level of the
niggers, mexicans etc.

It didn't take the kike long to turn America into a land of
serfs, did it?

Less than a hundred years was all he needed.

You can, in fact, stay out of debt. Unfortunately, that means
that you may have to live at a low, perhaps very low, standard of
living. Most white women are not prepared to do without the little
things that make life easier and white children don't want to seem
odd by not having the 'things' that all normal families have.
There was a time when small loans at low interest were helpful to
young families getting started but that time is long past; and it was
that time which conditioned whole generations into thinking that debt
was a normal and desirable condition. Unless you break out of this you
may find yourself living in a burnt-out car or dumpster some day.
Whether you are working class or white collar get out of debt
completely whatever it takes.
If you can learn to do without 'things' and avoid having a
mortgage and pay cash for your necessities you will stay out of debt.
If you are in debt you are, to a greater or lesser extent, a slave.
Slaves who have been in slavery for a while find it very hard to
support themselves if they are suddenly given their freedom. A white
man by himself can manage it without too much trouble but when you have
a wife and children it can be tougher. Only by going back to simpler
ways can we begin to escape the debt trap set for us by the kike.
One free, self-supporting white man is worth a thousand
wage-slaves shackled with debt, and, as a consequence, will be hated
all the more by ZOG. It's only when, as Dave Jones suggests, the kike
is dragged into the street and dealt with that the corner will be

I predict pawnshops will start mysteriously exploding as one of
the first signs of the incipient revolution. The key to squashing white
people wholly is maintaining an acceptable slope of change. The
traditional enemy alwyas overreaches, which is our only hope. He will
get greedy and as people get desperate a few will turn into Oscar
yeager's, and blowing a pawnshop, check loan outfit, or other leech
business up with IED's-or a sharpened pipe pounded through a back
wall and hooked to a barbecue propane tank-will be the ccheap and
expedient thing to do.

Reply all
Reply to author
0 new messages