VOODOO ECONOMICS: Meet The Three Headed Debt Monster That’s Going To Ravage The Economy

RIELPOLITIK

Source – economicprism.com

“…The problem, of course, is that U.S. consumer debt has gone parabolic since early 2009. Student loans, auto loans, and credit card debt has all recklessly piled up to dizzying heights. In reality, U.S. consumers have borrowed much more – nearly $13 trillion – than they can ever pay back”:

Meet The Three Headed Debt Monster That’s Going To Ravage The Economy – By MN Gordon

Mass Infusions of New Credit

“The bank is something more than men, I tell you.  It’s the monster.  Men made it, but they can’t control it.” – John Steinbeck, The Grapes of Wrath

Something strange and somewhat senseless happened this week. On Tuesday, the price of gold jumped over $13 per ounce.  This, in itself, is nothing too remarkable.  However, at precisely the same time gold was jumping, the yield on the 10-Year Treasury note was slip sliding down to 2.15…

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