Temporarily embarrassed millionaire Americans go back into credit card debt: Credit card debt begins to tick up as tapped out Americans re-leverage once again. Average household has $7,000 in credit card debt.
It is hard to believe that a large part of the nation has already forgotten the Great Recession. A crisis created by too much debt and the financialization of global markets is now once again unleashing high levels of debt to keep consumption going. This makes sense given that 1 out of 4 working Americans […]
Central banks and a global soft default: Current interest payments on public debt now exceed $415 billion per year. In 2000 $1 trillion in Fed debt was held by foreigners while today it is up to $6 trillion.
Global central banks are fully addicted to the opiate of debt. The financial system has created a rentier class that chases investment yield even when the economy isn’t necessarily growing. Think about that for a second. Why should someone expect a guaranteed return at any point in an economic cycle if the real economy is […]
Inflation conundrum, price increases without wage growth are unsustainable: Central banks around the globe aim at inflationary targets but have a hard time inflating wages.
Inflation has a slow corrosive power that few people ever see. We all realize that rust will occur on exposed metal through a slow process of oxidation. One rain will not do this. It takes time. Little by little the destruction occurs. I’m always thrown aback when I hear some people say something like they […]
Is college worth a lifetime of debt? Student debt reaches critical tipping point at $1.2 trillion as annual price increases enter the moment of truth.
The cost of going to college has come into deep questioning. In our inflation addicted market, the answer to every question regarding affordability involves more debt. Can’t afford a home? How about taking on a massive mortgage with a small down payment. Can’t afford a car? How about a 0 percent 0 down loan. Having […]