PAWNONOMICS BY STEVE KRUPNIK SHOWCASES THE IMPORTANCE OF PAWNBROKING ON OUR ECONOMY

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) September 21, 2009 --

PAWNONOMICS: A Tale of the Historical, Cultural, and Economic Significance of the Pawnbroking Industry by leader and former board member of the National Pawnbrokers Association, Steve Krupnik, was written to educate readers on the historical as well as economical value of pawn shops to the consumer and the world. Established over 5,000 years ago, Pawnbroking has been threatened by both royalty and religious leaders. Where would Christopher Columbus be if Queen Isabella didn’t pawn her crown jewels to fund his expedition? In this country, current proposed legislation is being considered that will jeopardize the industry and could potentially shut it down in this country.

“History repeats itself with a current threat, the U.S. Congress is reviewing a bill to place a federal cap on APR rates for all short-term consumer credit transactions,” says Krupnik. “Pawnshops remain the only short-term lenders worldwide who do no create debt for their customers. Pawnbrokers offer the only lending product on the market where the customer has a choice of whether to repay their loans or not. They are the only short-term lender who will never cause its customers’ credit score to plummet because of unpaid loans. The actions by Congress would drastically alter or even eliminate this important source of emergency funding for millions of customers.”

In PAWNONOMICS, Krupnik hopes readers will learn from its rich history and also aims to separate facts and myths, explains the mechanics of a pawn loan in easy-to-understand terms, and compares pawnbroking to fringe and mainstream sources of consumer credit. He explores commonly held fallacies about pawnbroking as well as why the industry is still as vibrant and economically relevant in today’s global consumer credit market as ever. Through masterful prose and a bit of irony and humor, Stephen Krupnik’s book will change the way you view one of the oldest professions in the world.

About the Author…

Steve Krupnik, a pawnbroker for more than 30 years, founded the Indiana Pawnbrokers Association. A former board member of the National Pawnbrokers Association, Krupnik was named by the association Pawnbroker of the Year in 1999. He resides with his family in South Bend, IN where is a business consultant for the pawnbroking industry. His internet blog on the pawnbroking industry is at www.pawnonomics.com


PAWNONOMICS: A Tale of the Historical, Cultural and Economic Significance of the Pawnbroking Industry

Author: Steve Krupnik
ISBN: 978-1439225738
Trade, pp 80, $12.99, June 2009
Cloud Ten Inc.

Available on Amazon.com, all major book retailers, and bookstore websites

To request an interview or review copy of the book contact:

Lissy Peace & Associates
312-573-2070
LissyPeace@aol.com

More information can be found online at http://www.pawnonomics.com

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