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A recent study in The American Journal of Psychiatry reveals that about 1 in 16 Americans -- some 6% of us -- have compulsive spending habits.

This kind of behavior leads to a momentary rush of adrenaline, but afterward comes the financial hangover. Christa has done a lot in her life to take control of her wayward spending habits. She believes that if you're always buying new clothes, for example, you disrespect the things you already have in your closet. When the shopping bug bites you, try paying attention to the stuff you've already acquired in your life.

On a related note, Clark once owned a house built in 1937. The master bedroom's sole master closet was all of 2 x 1.5 feet in dimension! During those Great Depression years, that was big enough for a middle-class husband and wife. Today, a closet of that size would never work. Some people have so much clothing that they can go for months without wearing the same thing.

Clark believes the best way to tackle compulsive spending is with shock therapy -- you've got to ban yourself from stores! Let's say you're prone to go on a shopping binge when you feel blue. You've got to make sure you don't even get into the car to go to the store or the mall.

Here are some more thoughts about getting compulsive spending under control:

• Only buy non-perishables every 6 weeks and buy your perishables on a weekly basis.

• Sell all belongings that you don't use. Don't buy new things to replace them.

• Freeze your credit cards (literally) if the temptation to shop is too great. Put them on ice in your freezer.

• Always be mindful of your needs vs. your wants.

• Adopt a cash-only approach.

eBay is currently facing lawsuits all over the globe for their role as an enabler for people selling counterfeit goods. Clark has long believed that eBay has a responsibility to guarantee that the merchandise on their site is the real deal. The company has seen a decline in growth, and Clark believes the question of their credibility may be part of the slowdown.

A French court now has hit eBay with a $61 million judgment. The court believes that bogus merchandise on the site -- much of it purporting to be from high-fashion labels -- affects the reputation of companies like Fendi, Louis Vuitton and others.

Meanwhile, Clark has a marketplace solution that he's long believed in. He feels eBay should require sellers to say "famous brand" instead of listing the actual brand name, or require sellers to have their wares independently verified as real before putting them up for sale. Legit sellers could then command higher prices.

Much of corporate America forces mandatory arbitration on its customers in what amounts to a stacked-deck proposition against consumers. For example, this practice allows Bank of America to win 99.9% of the time with the arbitrators they choose. So it's almost statistically impossible for a consumer filing a complaint to get a fair hearing.

There are, of course, other more equitable options. Arizona is a leader in alternative dispute resolution. Such voluntary solutions allow people to try to work out their problems with companies first -- with the understanding that going to court is a possibility if necessary.

Dell Computers recently lost a court battle in New Mexico because they were disallowing class-action status under their mandatory arbitration rules. Other states have also struck down so-called "kangaroo court" clauses that ban class-action suits.

Clark has no bias in favor of litigation. He himself is open to being sued every time he steps up to the microphone. He does have an umbrella liability insurance policy to protect his assets, but the insurer refuses to cover his work as a media personality.

The bottom line is this: Mandatory arbitration has been not been adopted by corporate America to avoid the risk of court. Rather, the aim is to prevent consumers from having a fair shake in the event of wrongdoing.

This is an extraordinary time for entrepreneurs. There's no better time to start a business than during a recession. Think about it: There's a surplus of vacant office, retail and commercial space that can be had for below-market value. Ditto for high-quality labor.

Clark started his business in the midst of the 1980s recession. The reality is that you always lose money with a startup. But if your overhead is lower to begin with, then as the economy recovers you're poised for faster growth than you might have been otherwise.

The New York Times recently ran a story about people who wind up going the entrepreneur route after they've retired. Economists call this the "micro-businesses" trend. These are people who may have had a beloved hobby, but they never really got to pursue it during their working life.

It might also be a good time to try out a micro-business if you've lost your job. However, what was fun as a hobby does not always prove fun as a job. But Clark's longstanding belief is do what you love first -- and then figure out how to monetize it later.