“The first point I want to get across is that our nation is broke,” Kotlikoff testified. “Our nation’s broke, and it’s not broke in 75 years or 50 years or 25 years or 10 years. It’s broke today.
http://cnsnews.com/news/article/barbara-hollingsworth/economist-tells-co…
#FunFact US debt is 10 times larger than all the US dollars in circulation. pic.twitter.com/Ojp71tXJ3O
— Russian Market (@russian_market) August 30, 2015
Household debt – mortgages, auto loans, and credit card debt – is rising for borrowers across the credit spectrum.
In the aftermath of the housing collapse, U.S. consumers did something they hadn’t done in years: they drastically reduced their debt loads. After peaking in 2008 at just over $11.5 trillion, household debt (the sum of mortgages, home equity lines of credit, auto loans, and credit card debt) was whittled down to under $10 trillion by the second quarter of 2013. But that, apparently, is when the deleveraging stopped. Over the past two years, household debt has once again been on the rise. But here’s the good news: that uptick bodes well for the economy.
Auto loans rebounded first in 2010, followed by credit cards in 2011, and, finally, mortgages in 2013. As of mid-2015, total U.S. household debt sat just under $10.5 trillion. But the encouraging news isn’t simply that borrowing is up.—it’s more about who, exactly, is doing the borrowing.
http://www.thefinancialist.com/us-debt-is-rising-again-but-thats-a-good-thing/
US Debt In The Age Of Unrestrained Central Banking
We have shown in the previous three episodes (episode 1, 2 and 3) how the US economy structurally changed after Nixon took the US off gold, letting the Federal Reserve do what it does best.
Growth, on the other hand have moved inversely to the debt level. On a decennial CAGR basis growth in 2015 is only beaten by 1935 in terms of under-performance.
http://www.zerohedge.com/news/2015-08-29/us-debt-age-unrestrained-central-banking
Jim Sinclair:
“What is coming up in front of us is the Great Reset where currencies wear their gold like ladies wear a necklace, and the most beautiful necklace will be the strongest currency. The ladies without the necklace won’t be invited to the ball. Huge changes are coming. The dollar is always going to be with us, and the yuan and all of the currencies are still going to be there. We are not going to one single currency. The SDR (Special Drawing Rights) is nothing more than a glorified index of currencies. It’s a cure to nothing. How can a package of junk cure the problem of junk? It can’t. The two last men standing will be gold and gold on steroids—silver.”
http://investmentwatchblog.com/us-leads-the-world-in-too-much-debt-1720000-per-taxpayer-compared-to-65000-per-taxpayer-for-bankrupt-greece-us-debt-is-10-times-larger-than-all-the-us-dollars-in-circulation/
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