The EHS Daily Journal Get the truth about critical, economy-related events and happenings by having them delivered to your Inbox 2-3 times a week ... with no "sugar-coating."

The words "caveat emptor" (let the buyer beware) have acquired a special significance to American consumers with respect to an alarming trend that is spreading across the country.

That trend, simply put, is the increased use of unfair and deceptive trade practices in the marketplace and the increased tolerance and acceptance of those practices by the government and legal establishment. One ugly by-product of the failing U.S. economy is the use of deception as a means to make money from unsuspecting consumers by extracting hidden, undisclosed, excessive, and/or unnecessary costs.

Consumers who are not paying close attention can easily become the victim of unfair and deceptive tactics. A mortgage transaction can quickly turn into a wind-fall of extra fees and profits. The cost of an extended auto warranty can be all but pure profit due to its limited terms and conditions. A credit card can turn into a nightmare of charges and fees. A consumer’s own attorney can churn fees unmercifully. Debt collectors can harass and threaten with little accountability or recourse on the part of a consumer.

There are two very basic things, however, that you can do to keep from getting ripped off in a myriad of situations and financial transactions:

1. Get what you're doing in writing; and

2. Read and understand it BEFORE you sign it.

Sound pretty simple?

Ironically enough, if these basics had been followed by a majority of Americans (and actually promoted by the U.S. educational system), this country would not be in the financial mess it's in.

- Ed Smith, Publisher
The EHS Letter Manual