Serfdom via student loans – Lenders going after Social Security and saddling college graduates with a debt albatross. Modern day debtor’s prison comes with a University degree.
The sharp attention being pointed toward higher education is important for a variety of reasons including the grim reality that we are facing another extraordinary bubble. Instead of blindly following into another credit fueled bubble we should probably pause as we cross the $1 trillion student loan threshold. The cost of education is becoming onerous […]
The financial avarice of the global banking system – U.S. banks insolvent to the tune of $3 trillion. FDIC pretends to have funds to support over $7 trillion in banking deposits.
Part of the big delusion in our banking system is the reality that debt has become a large source of money flowing through the economy. This is why housing made the perfect vessel for Wall Street and banking speculation. Banks create money by issuing loans and there is nothing larger to loan on than a […]
The brittle financial American middle class – 50 percent of Americans would be in financial trouble if $2,000 of expenses came up in 30 days. By 2020 the world’s richest households will control $202 trillion in wealth, 4 times current global GDP.
This economic recovery has excluded working and middle class Americans which begs the question, what really defines a financial recovery? In past and distant recoveries the economic gains were widely distributed amongst all Americans. Most realize that income gains will never be equal simply because in a market based economy those with certain desirable skills […]
The Federal Reserve’s elaborate financial charade on the American people – Big banks hold excess reserves that represent 10 percent of U.S. GDP. Federal Reserve has failed on largest goals for our economy.
The antics of our Federal Reserve rival those of the now disgraced IMF chief although they won’t grab as many gossip headlines. The Federal Reserve has fashioned a system that has allowed economic bubbles to surface every very few years like high school reunions. Bubbles are not normal. These are financial disequilibrium events that occur […]