Nation of Debt Slaves: Americans Increasingly Rely On Massive Debt Insolvency To Get By

Student-loan debt hit an all-time high of $1.4 trillion in the first quarter of 2019, Experian claims. Considering that this is an increase of 116 percent in the last decade, it’s safe to say that young adults are starting their lives with a crushing debt burden. But student loans aren’t the only reason they are struggling: auto loans and credit cards are also hurting their pocketbook.

When compared to other generations, millennials are much less likely to have credit card debt. However, that doesn’t mean they are completely immune to it. As a matter of fact, most of the debt millennials between the ages of 25 and 34 carry comes from credit card use.

The fact that the government created the current student-loan crisis is a well-established truth at this point. However, what few people talk about is how credit card debt can also be traced back to government’s bad monetary policies.

Credit card companies offer cards with high-interest rates because consumers who rely on credit cards are more likely to default. In order to make sure they can cover their costs and make some profit, these companies attach high-interest rates to their products, even when competing with other companies to appeal to a greater audience.

But the fact that so many people rely on credit cards for basic purchases and even to pay bills says something else about the country’s economy: the dollar’s purchasing power hasn’t kept up with inflation.

After the 2007 financial crisis, the Federal Reserve’s go-to policy was keeping interest rates low and expand its balance sheet, effectively creating a greater reserve of U.S. currency and putting more paper money into circulation.

While those who put their hands on this money first, such as Wall Street junkies, do make a profit, everyone else loses in the long run as the government’s policy of expanding the money supply and artificially inflating the prices of resources, as a result, devalues the currency. If living life wasn’t as expensive as it is now thanks to the country’s misguided monetary policies, then perhaps Americans wouldn’t rely on credit cards as much.

It is true that consumers would also be less likely to rely on a credit card, to begin with, if they understood what it meant to their finances in the long run. Unfortunately, they lack basic financial literacy and often see credit cards as a part of life.

In the end, both ignorance regarding their financial decisions and the government’s misguided policies are creating a ticking time bomb.

zerohedge.com/news/2019-06-19/americans-arent-paying-their-credit-card-debt-what-could-go-wrong
web.archive.org/web/20190619164128/https://www.zerohedge.com/news/2019-06-19/americans-arent-paying-their-credit-card-debt-what-could-go-wrong

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anti-slide 4

No, its capitalism working. Thanks goyim! For literally everything, hehehehe.

So you are blaming consumer choice and the free market for this crisis when clearly our corrupted government actually created a lot of this mess by market interference? What would you propose we do then? Give the corrupted State full control?

Reminder that the student loan crisis was created because the government nationalized the student loan debt, exempting predatory lenders from fiscal loss or imprisonment for loan sharking. One reason why students cannot file bankruptcy and no one goes to jail for predatory loan sharking / racketeering at the expense of students and their families.

Take a student loan at your own risk. Its stupid.

Hindsight 20/20

why are credit cards legal? is it in interest of society? or in interest of jews?
government works for society or for the jews?

The US has been a corporation since 1871, and all currency fake and gay since 1913. We are all official property; free range cattle producing milk until the slaughter. Every institution in the US is created for the purpose of killing off all Israeli opposition and eventually ourselves. We're literally a national suicide bomb. We're all already dead inside and soon to be out. There's nowhere to run or hide. You'll be an obedient slave and whimper symptoms of a condition you've ignored, dying a slow meaningless existence, or fight and die quickly to be forgotten by the rest of the herd.

Fighting and dying seems to be the only honorable thing to do, when push comes to shove. There will be something that ignites it though, some kind of thorny topic that creates mass division, something that many people feel very strongly about….. one could only wonder which issue might fuel that fire in America.

The Death Penalty For All Forms Of Usury

bumping actual rational news

State having full control means corporations have none, so no bribes and corruption (by who?), only consumer choice, not corporate choice, people free to decide not corporations free to decide. Everything great.

yadayada

broken record

debt, prep, immigrant invaders

anti-slide

Broken record? Sure, but its correct regardless, and we continue acting like everything is just fine things will only get much much worse from here on! How does it feel living in a nation where come 12 years from now YOU will be the minority and foreigners a majority!?

Thats not how it turns out unfortunately. When the State controls everything, then they will be the very ones mandating you buy whatever they assume you should have and restricting access to other things they assume you should not have. It always ends up monopolized under the State.

Imagine if the US government had FULL control and could decide what digital electronics we could/could not have access to…. holy fucking shit…. our only choice would be an Alexa or the latest iPhone 17.5B+ loaded with bloatware and backdoors galore! People like me wouldn't exist on the internet anymore if the US government had their way. The *ONLY* thing protecting us from that is a free market and consumer choice. We still can decide to purchase alternatives, we still have access to used older electronics, there are still some companies who make PCs and laptops, etc. Get the government involved and it will end up like the automobile industry (you may be too young to know what happened there user: most of the best bad ass vehicles they made back in the day are completely outlawed due to govt regulations and interference and the only way you can get those older vehicles is to purchase old used ones).

Boring thread is boring.

You produce NOTHING but criticism. You want to talk about a bore? Too bad, this is also part of the real world, so its a good news subject and it does affect millions of Americans, like it or not.

I made a single post, attack dog. You’ve gone rabid.

It may be a reality for Americans but it is quite certainly not news—just more fear porn from the village dopehead. You and Gordon Duff are not changing a thing.

I only get 'rabid' when I'm flooded with the same insults every single day from the same 2 or 3 people. Regardless, this is still news worthy because it really does affect millions of fellow Americans. Love 'em or hate 'em, debt insolvency is leading to mass bankruptcies and fiscal crisis everywhere.

Liberal arts majors are always poor losers.

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How can you go bankrupt on monopoly money?

Very easily and it has happened to thousands of countries before. The reliance on increasing debt & legalized counterfeiting devalues the currency over time. Currency devaluation results in higher prices, higher prices make it harder for average folks to make ends meat and continue consuming which would help economic growth. Vicious cycle.

Now the ONLY reason the US has been able to keep this up so long is the US has a global reserve currency status (the US petrodollar) which mandates other nations use our debts (via T-bonds) for international trade. It has been this way since 1944. However…. the US global reserve currency status is slowly going away today as more and more countries continue to work around it and bypass it (much like China, Russia, Iran [and now Germany] is doing)…. When the US Dollar ceases to remain the reserve currency…. all that debt will flood back into our domestic markets propping it up as long as possible, creating hyperinflation and inevitable collapse because debt acts as sterilant to real wealth, it neuters the ability to produce more wealth and contracts the economy in the long run, leading to collapse.

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Mike Maloney shows you every detail of this process and how central banks really work. Its a 30 minute detailed mini-documentary. It really cannot be better explained than this. It explains exactly what you wanted to know, in full animated detail.

That's not what I'm saying. I'm saying you don't own anything and haven't ever. You rent, you lease, you borrow. You don't own. You've never owned anything.

I own what I have already paid for and what I'm willing to protect and defend to the death having. Thats the best anyone can do I guess. And fuck all those who are trying to take that away from the rest of us, because there are people who would love to loot what we worked so hard to obtain to pay off their insolvent bad finances. I have absolutely no respect for those who call for us taxpaying workers to bail them out for their bad fiscal mistakes (such as thos who call for "free" education when they know damn well that means us taxpayers bailing them out). Commies need to place blame where it belongs: corrupt incompetent government which nationalized student loans and bailed out insolvent corrupt big banks which enriched themselves by subprime mortgage fraud and by loan sharking nitwits. Their the real ones that should go bankrupt. Their the real ones who created this whole mess, them and their corrupted institutions.

You're too small minded for me. I think about the dominance of the Phoenician order throughout human history, it's passage from the Levant into Rome, then into Britain and now the United States. I think about how it must have come to be that these jews have transmitted Phoenician spookery to the willingly conquered empires of the West, who are the trillionaire families that preside over our replacement?

You're at this little nigger level of "lefties bad." It's pathetic. You think about "Socialism" and "Communism" as being opposed to "Capitalism." You like the latter as if it wasn't born out of monotheism and usury, as if it is somehow less fascistic to have government sponsored animal husbandry of peasants who believe themselves to be free. It's like you're on something and don't even care so long as you get to keep talking.

Well if the governments were not so easily corrupted and did not interfere where they should not have, then a lot of this mess would have fixed itself over time. No bailouts = big banks forced into bankruptcy over their fraud bubbles burst. No nationalization of student loan debt = corrupted commie-ridden universities go bust and bye-bye. Its that simple. Let the free market do its thing and the corrupt insolvent entities will fail naturally, thats what bankruptcy naturally does, it acts as a neutralizer in economics. Just because one entity goes bankrupt doesn't mean other better, solvent entities won't inevitably replace them.

ok news bump

Communism, Socialism, Capitalism… doesn't really matter what you support when the fact is certain economic policies work, and certain ones do now. Certain ones corrupt, and certain ones contribute to real national wealth growth….

As long as we have the (((central bankers))) in control over the monetary supply things will continue to be corrupted and unfair. We will continue seeing flawed policies such as outsourcing, taxpayer bailouts to insolvent corrupt entities, government subsidies to monopolies like Google and Amazon, etc. Thats not what works or helps the average person.

doesn't really matter what you support when the fact is certain economic policies work, and certain ones * do not. Corrected.

confirmed news

true news