libertyblitzkrieg.com

Short-term lenders, seeking a detour around newly toughened restrictions on payday and other small loans, are pushing Americans to borrow more money than they often need by using their debt-free autos as collateral. Their hefty principal and high interest rates are creating another avenue that traps unwary consumers in a cycle of debt. For about 1 out of 9 borrowers, the loan ends with their vehicles being repossessed.

THEY SAID GO TO COLLEGE

www.theburningplatform.com

The Federal Reserve and the politicians in Washington D.C. have destroyed our economy with their debt based solutions and vast array of laws, regulations, and taxes, which have drained the life out of our financial system. The number of good paying new jobs for college graduates will continue to decline, but the amount of government backed student loans continues to go up by $5 billion per month. Those who have been unwittingly convinced college was a great idea, will pay for the rest of their lives.

“If you’re committed enough, you can make any story work. I once told a woman I was Kevin Costner, and it worked because I believed it.” – Saul Goodman – Breaking Bad “As calamitous as the sub-prime blowup seems, it is only the beginning. The credit bubble spawned abuses throughout the system. Sub-prime lending just happened to be the most egregious of the lot, and thus the first to have the cockroaches scurrying out in plain view. The housing market will collapse. New-home construction will collapse. Consumer pocketbooks will be pinched. The consumer spending binge will be over. The U.S. economy will enter a recession.” – Eric Sprott : 2007 In Part One of this article I provided the background of how our current debt saturated economy got to this point of ludicrousness. The “crazy” bloggers, prophets of doom, and analysts who could do basic math were warning of an impending financial crisis in 2006 and 2007, which would be caused by the issuance of hundreds of billions in subprime slime by the Too Big To Trust Wall Street shysters. Subprime mortgages, auto loans, and credit card lines provided the kindling for the 2008 conflagration.

... The Fed report downplayed the 13% surge in seriously delinquent auto loans in one quarter, from 3.1% to 3.5%. This is just the seriously delinquent loans and amounts to $33 billion. ... In a scathing recent report, The Center for Responsible Lending dismantles the positive storyline being spun by the purveyors of propaganda at the Fed and their Wall Street owner peddlers of debt. ... The Federal Reserve used to report on a monthly basis regarding the average LTV, maturity, and average amount financed for all car loans. They abruptly stopped reporting this info as of 2012, just as the subprime auto boom launched. They have provided no rational for stopping this reporting. The data is readily available and the Center for Responsible Lending details the data in their report. It’s clear why the Fed doesn’t want to provide the data – because it proves how outrageously reckless the banks have become under the Fed’s regulatory reign of nonchalance. ... In Part Three of this article I’ll address the student loan debacle and the coming worldwide debt implosion which will change the world forever.

theeconomiccollapseblog.com

Most Americans spend their lives working for others, paying off debts to others and performing tasks that others tell them that they “must” do.  These days, we don’t like to think of ourselves as “servants” or “slaves”, but that is what the vast majority of us are.  It is just that the mechanisms of our enslavement have become much more sophisticated over time.  It has been said that the borrower is the servant of the lender, and most of us start going into debt very early into our adult years.  In fact, those that go to college to “get an education” are likely to enter the “real world” with a staggering amount of debt.  And of course that is just the beginning of the debt accumulation.   ... We have willingly chosen to collectively enslave ourselves on a local, a state and a national level. It is bad enough that we are doing this to ourselves.  But we are also cruelly saddling future generations of Americans with the largest mountain of debt in the history of the planet.  

Greek government does not have the revenue to support the debt. HP laying 58,000 people by the end of the year. Mortgage apps decline once again. Janet Yellen freaking out over the audit the FED bill. Secret black site discovered in Chicago. One step closer to closing down the society. US embassy in Afghanistan receives threats. Ceasefire in Ukraine non existent, Kiev stalls heavily artillery withdrawal. Iraq shoots down British plane carrying weapons for the Islamic State. Weapons and ammunition delivered to Iraq for the spring offensive.

Paying down the debt is now almost mathematically impossible

www.sovereignman.com

Exactly 199 years ago, in 1815, a “temporary” committee was established in the US Senate called the Committee on Finance and Uniform National Currency.

It was set up to address economic issues and the debt accrued by the US government after the War of 1812.

Of course, because there’s nothing more permanent than a temporary government measure, the committee became a permanent one after just one year.

It soon expanded its role from raising tariffs to having influence over taxation, banking, currency, and appropriations.

...

I’ve worked out a mathematical model which shows that, even with absurd assumptions (7%+ GDP growth for years at a time, low interest rates, etc.), it is simply not feasible for the US government to ‘grow’ its way out.

Keiser Report: Spider's Web of Debt

In this episode of the Keiser Report, Max Keiser and Stacy Herbert discuss financial ear wax and collateral the size of a spider's egg. In the second half, Max interviews Chris Whalen, an investment banker and the author of a new book, "Financial Stability: Fraud, Confidence & The Wealth of Nations," about a financial system replete with fraud and how what is happening in Detroit relates to fraudulent derivatives.

Debtonomics of Suicide

In this episode of the Keiser Report, Max Keiser and Stacy Herbert burning matches at stall speed as the US is now producing as much new debt as goods and services and the rate of currency dilution exceeds the rate of production growth. And what happens when an Empire hits 'stall speed?' They plunder and steal from workers and savers through inflation; or through the NSA 'surveillance.' In the second half, Max interviews Wolf Richter about the ongoing and escalating economic fallout from the NSA spying scandal.

Figuring Out The Fed

Since 2008, the Federal Reserve has been trying one program after the other in order to kick-start the US economy. It culminated in currently buying around $1 trillion of bonds a year. But economic growth remains weak. Why does the Fed continue its ultra-lax monetary policy despite evidence it doesn't help much? The people at the Fed are not stupid, so there must be a rational explanation. This is an attempt to figure out their 'game plan'.

Via Lighthouse Investment Management's Alex Gloy,

"In a debt-based economy (like ours), GDP grows only if the overall pile of debt is growing. As long debt doesn't grow faster than GDP, the system is stable. You may grow debt faster than GDP for a while (depending on your starting point), but eventually you reach a point where the whole thing becomes unstable. There is no magic number, but anything north of 100% debt-to-GDP probably makes you prone to mayhem. The US is at 100%."

In the image above, here's how debt and GDP have been growing over past periods.

[Full Article]

Four Horsemen  - How The World Really Works - The Documentary

Renegade Economist's "Four Horsemen" documentary lifts the lid on how the world really works. "Four Horsemen is a breathtakingly composed jeremiad against the folly of Neo-classical economics and the threats it represents to all we should hold dear." Free from mainstream media propaganda -- the film doesn't bash bankers, criticize politicians or get involved in conspiracy theories. It ignites the debate about how to usher a new economic paradigm into the world which would dramatically improve the quality of life for billions.

Since it is becoming abundantly clear that we will never return to 'business as usual', 23 international thinkers, government advisers and Wall Street money-men break their silence and explain how to establish a moral and just society.

Meet Noam Chomsky, Academic Gatekeeper

Is Noam Chomsky an anarcho-syndicalist or proponent of the Federal Reserve? A fearless political crusader or defender of the Warren Commission JFK orthodoxy? A tireless campaigner for justice or someone who doesn’t care who did 9/11? Join us this week on The Corbett Report as we examine some of the subjects that Chomsky would prefer you didn’t think about.

For those with limited bandwidth, CLICK HERE to download a smaller, lower file size version of this episode.

For those interested in audio quality, CLICK HERE for the highest-quality version of this episode (WARNING: very large download).

How Do We Break the Cycle of Higher Tuition and More Debt?

Many college students face repaying a mountain of debt upon graduating, and many college graduates end up working jobs that don't require a degree. Even worse, 40 percent of college students drop out without earning a degree, but that does not free them from the debt they have accumulated. Prof. Daniel Lin argues that government subsidies are to blame for the continually rising costs of higher education. Although such subsidies are supposed to help defray college costs, they are making the situation worse. A policy that worsens the problem it is supposed to fix should be eliminated.