Joe Rodolico's definitions

credit card coolie

Any unskilled worker laboring to pay off huge debts.

Low income individuals can be quite optimistic about the future when using plastic instead of cash to make purchases. But if, for some reason, they suffer a financial setback, that little piece of plastic may turn them into credit card coolies.

by Joe Rodolico January 26, 2007

schifoso

Italian slang. A foul, disgusting, low-down, rotten person. Also spelled skifozo.

That schifoso would sell anything to anybody, including his own mother, if someone made him an offer.

by Joe Rodolico November 14, 2006

WDI

World Depression One. What the world will experience in the coming years, if the global financial meltdown is not stopped.

No one could have imagined that the great prosperity of the early part of this century was just an illusion and would end in WDI (World Depression One).

by Joe Rodolico March 18, 2009

two-thousandaire

A member of America's class of home-owning families with only two thousand dollars in savings. Deeply in debt, they live from paycheck to paycheck dreading any unforseen financial catastrophies such as a sudden illness or unemployment. First coined by Karen De Coster and Eric Englund.

Taking out a home equity loan might seem like a good idea to a two-thousandaire, unless one gets laid off and ends up penniless.

by Joe Rodolico July 1, 2006

toxic wife

A woman who only marries for financial gain. Once the money is gone, she quickly leaves her husband and takes what little money is left with her.

After Howard lost everything in the stock market bust, he realized what a toxic wife Wanda really was when she emptied out their joint bank account and split.

by Joe Rodolico December 19, 2008

ninja loan

An acronym for a loan given to a person designated as "No income, no job or assets;" hence - N-I-N-J-A.

The bank's ninja loans have ruined its credit rating. Now, no other bank will lend it money.

by Joe Rodolico September 23, 2007

economic bubble

A phenomenon in economics in which too much loose cash finds its way into an area of the market, e.g., stocks, housing, dot-com, etc., resulting in a buying frenzy that leads to wildly inflated prices. Economic activity in those areas affected is not sustainable in the long run, so large numbers of late investors eventually go bankrupt.

We were warned of an economic bubble, but bought high-priced shares anyway thinking we could unload them on some poor sap before the bubble burst. Boy, were we wrong!

by Joe Rodolico February 12, 2007