Even I'm surprised. Household debt hits 16 trillion

[Woodznutz]

We can all thank St Reagan for getting the debt ball rolling.

Yeah, what happened there. Reagan raised the debt but reduced inflation. Curious.

 

[Mr Natural]

Yeah, what happened there. Reagan raised the debt but reduced inflation. Curious.

Debits and credits.

 

[Indeependent]

We are repeating a Credit (Housing) Bubble and the crash is going to be nightmare.

 

[Woodznutz]

I don't have to worry about defaults.

Most of my savings are in federally protected accounts. Some in highly rated annuities. No stocks or bonds. I prefer safety over risk even though earnings are smaller. I'm in the process of securing a 3-year fixed-term annuity at 4 percent interest with an A- rated company.

 

[Woodznutz]

We are repeating a Credit (Housing) Bubble and the crash is going to be nightmare.

The housing bubble is already crashing. I'm hoping prices come down soon. I want to buy a retirement home.

 

[Indeependent]

The housing bubble is already crashing. I'm hoping prices come down soon. I want to buy a retirement home.

In Nassau County, they are rising again.
There are condos going up with 2 bedrooms and 2 baths for 1 million and they're being scooped up left and right.
The prices in Florida are stable because the uber wealthy Cubans & Columbians are leaving their nations in droves.

Another problem with the construction boom is too much traffic for the roads and not enough water.

 

[Riff Raff]

In consumer finance, it is hard to surprise me after this long

People wondered how people were making it not working and sitting on their crisco bursting arses

This is it. As a mortal enemy of debt, I see a lot of Chapter 7s down the pike

If we never got rid of Debtors Prisons, this would not be happening

Americans are piling up credit card debt as they struggle to keep up with the high cost of living

Americans are piling up credit card debt as they struggle to keep up with the high cost of living.

www.cnn.com

Biden will use taxpayer money to pay the debts of as many 'Democratic' Party voters as he can.

 

[Woodznutz]

In Nassau County, they are rising again.
There are condos going up with 2 bedrooms and 2 baths for 1 million and they're being scooped up left and right.
The prices in Florida are stable because the uber wealthy Cubans & Columbians are leaving their nations in droves.

Another problem with the construction boom is too much traffic for the roads and not enough water.

Bargains can still be had in small towns. That's where I'm likely to settle, although I'd really like to buy a small hobby farm. I owned one once. It was great.

 

[Indeependent]

Bargains can still be had in small towns. That's where I'm likely to settle, although I'd really like to buy a small hobby farm. I owned one once. It was great.

Small towns are being swooped up in this mania.
Buy now if you have the cash.

 

[JohnDB]

Most of my savings are in federally protected accounts. Some in highly rated annuities. No stocks or bonds. I prefer safety over risk even though earnings are smaller. I'm in the process of securing a 3-year fixed-term annuity at 4 percent interest with an A- rated company.

Security is only based on the value of the Dollar.
That's the problem when the Fed flooded the market with American dollars in the form of bonds. It created a free falling dollar. Which caused them to then raise interest rates....which stifles business investments (buying stocks on credit or borrowing against stocks for other purchases)

What is happening is that as inflation gets higher they will continue to raise interest rates. Bankruptcies will increase drastically.
Like Sri Lanka.

Then, because it no longer is a matter of the strongest financial leverage, it becomes about the strongest military.

And the common man dies like so much cannon fodder.

 

[Toddsterpatriot]

Governments and commercial banks create credit on computer keyboards without much regard for democratic process:

Banking Wasn’t Meant to Be Like This, Michael Hudson - Positive Money

"Governments can create new credit electronically on their own computer keyboards as easily as commercial banks can.

"And unlike banks, their spending is expected to serve a broad social purpose, to be determined democratically.

"When commercial banks gain policy control over governments and central banks, they tend to support their own remunerative policy of creating asset-inflationary credit – leaving the clean-up costs to be solved by a post-bubble austerity.

"This makes the debt overhead even harder to pay – indeed, impossible."

"Governments can create new credit electronically on their own computer keyboards as easily as commercial banks can.

It worked in Venezuela and Zimbabwe.

"And unlike banks, their spending is expected to serve a broad social purpose, to be determined democratically.

LOL!

 

[Toddsterpatriot]

That's why government spending, in excess of tax revenue income, should be in cash, debt-free, right off the printing press. This would infuse the economy with equity rather than more debt.

Awful idea.

Unless you want even higher Bidenflation?

 

[Toddsterpatriot]

If the following quote is accurate...

"In 2005, former Federal Reserve Chairman Alan Greenspan followed that line of thought: 'There's nothing to prevent the federal government from creating as much money as it wants.'"

...was Greenspan correct?

Of course they can. And?

 

[Toddsterpatriot]

The government can create debt money, or equity money.

What are the three biggest differences between them?

 

[Toddsterpatriot]

Security is only based on the value of the Dollar.
That's the problem when the Fed flooded the market with American dollars in the form of bonds. It created a free falling dollar. Which caused them to then raise interest rates....which stifles business investments (buying stocks on credit or borrowing against stocks for other purchases)

What is happening is that as inflation gets higher they will continue to raise interest rates. Bankruptcies will increase drastically.
Like Sri Lanka.

Then, because it no longer is a matter of the strongest financial leverage, it becomes about the strongest military.

And the common man dies like so much cannon fodder.

That's the problem when the Fed flooded the market with American dollars in the form of bonds.

The Fed doesn't create bonds, the US Treasury does. Bonds aren't dollars.

 

[georgephillip]

The government can create debt money, or equity money.

Do you think structuring banking as a public utility affects the debt/equity debate?

Banking as a Public Utility – with Ellen Brown | Michael Hudson

"The fact is that banking should be a public utility.

"Privatized banking has not really helped the economy, because it makes loans basically against collateral.

"When you make loans against collateral – the house, real estate, corporate stocks and bonds – the effect of bank lending is to increase the price of this collateral.

"You end up with a high-priced economy: high housing prices, high retirement-income prices, high insurance prices.

"And you can’t have a viable public banking system built on the wreckage of the commercial banking system that has almost committed suicide, as you’ve described.

"You’re not going to be able to go forward."

 

[Toddsterpatriot]

"When you make loans against collateral – the house, real estate, corporate stocks and bonds – the effect of bank lending is to increase the price of this collateral.

If I borrow $10,000 against my Bank of America stock, how much is the price going to rise?

 

[Toddsterpatriot]

Do you think structuring banking as a public utility affects the debt/equity debate?

Banking as a Public Utility – with Ellen Brown | Michael Hudson

"The fact is that banking should be a public utility.

"Privatized banking has not really helped the economy, because it makes loans basically against collateral.

"When you make loans against collateral – the house, real estate, corporate stocks and bonds – the effect of bank lending is to increase the price of this collateral.

"You end up with a high-priced economy: high housing prices, high retirement-income prices, high insurance prices.

"And you can’t have a viable public banking system built on the wreckage of the commercial banking system that has almost committed suicide, as you’ve described.

"You’re not going to be able to go forward."

Ellen Brown is funny.
She may actually be dumber than you, and that's not easy.

 

[Circe]

Those benefits are long gone so they are finding other ways to survive. Good for them if that's the case. If they can make it somehow then we don't need them in the workforce.

None of the desperate employers in my area would agree with you. My favorite is the crab restaurant advertising bigger than the fact that they sell crabs, "WORK TODAY, GET PAID TOMORROW."

 

[georgephillip]

"Governments can create new credit electronically on their own computer keyboards as easily as commercial banks can.

It worked in Venezuela and Zimbabwe.

"And unlike banks, their spending is expected to serve a broad social purpose, to be determined democratically.

LOL!

"Money, as Karl Marx lamented, plays the largest part in determining the course of history.

"Once speculators are able to concentrate wealth into their hands they have, throughout history, emasculated government, turned the press into lap dogs and courtiers, corrupted the courts and hollowed out public institutions, including universities, to justify their looting and greed.

"Today’s speculators have created grotesque financial mechanisms, from usurious interest rates on loans to legalized accounting fraud, to plunge the masses into crippling forms of debt peonage.

"They steal staggering sums of public funds, such as the $85 billion of mortgage-backed securities and bonds, many of them toxic, that they unload each month on the Federal Reserve in return for cash.

"And when the public attempts to finance public-works projects they extract billions of dollars through wildly inflated interest rates."

Overthrow the Speculators