We're #1... in Debt! | Jesse Ventura Off The Grid - Ora TV

While this is just one measure of economic importance, it's yet another sign that the USA is handing the baton over to China.

With the US Federal debt hitting $18 trillion, it's safe to say that any increase in interest rates will be prevented from happening for as long as possible, assuring malinvestment and greater austerity

Do you think those students will take risks as entrepreneurs, or will they seek more "secure" jobs with big corporations like JP Morgan Chase, or Bank of America.

Credit card debt is nearly a trillion dollars and it seems likely that those who have student loan debt will also have credit card debt.

US Households Are Not "Deleveraging" - They Are Simply Defaulting In Bulk

From Zerohedge:

Lately there has been an amusing and very spurious, not to mention wrong, argument among both the "serious media" and the various tabloids, that US households have delevered to the tune of $1 trillion, primarily as a result of mortgage debt reductions (not to be confused with total consumer debt which month after month hits new record highs, primarily due to soaring student and GM auto loans). The implication here is that unlike in year past, US households are finally doing the responsible thing and are actively deleveraging of their own free will. This couldn't be further from the truth, and to put baseless rumors of this nature to rest once and for all, below we have compiled a simple chart using the NY Fed's own data, showing the total change in mortgage debt, and what portion of it is due to discharges (aka defaults) of 1st and 2nd lien debt. In a nutshell: based on NYFed calculations, there has been $800 billion in mortgage debt deleveraging since the end of 2007. This has been due to $1.2 trillion in discharges (the amount is greater than the total first lien mortgages, due to the increasing use of HELOCs and 2nd lien mortgages before the housing bubble popped).

In other words, instead of actual responsible behavior of paying down debt, the primary if not only reason there has been any "deleveraging" at all at the US household level, is because of excess debt which became insurmountable, not because it was being paid down, the result of which is that more and more Americans are simply handing their keys in to the bank and walking away, and also explains why the US banking system is now practicing Foreclosure Stuffing, as defined first here, as the banks know too well, if all the housing inventory which is currently in the default pipeline were unleashed, it would rip off any floor below the US housing "recovery" which is not a recovery at all, but merely a subsidized bounce, as millions of units are held on the banks' books in hopes that what limited inventory there is gets bid up so high the second housing bubble can be inflated before the first one has even fully burst.

Naturally, two concurrent housing bubbles can not happen, Bernanke's fondest wishes to the contrary notwithstanding, especially since as shown above, US households do not delever unless they actually file for bankruptcy, and in the process destroy their credit rating for years, making them ineligible for future debt for at least five years. It is thus safe to say that all the other increasingly poorer US households (who arenot getting paid more as we showed this morning with the chart showing Y/Y change in US household earnings) are merely adding on more and more debt in hopes of going out in a bankrupt blaze of glory just like everyone else: from their neighbors, to all "developed world" governments.

And why not: after all this behavior is being endorsed by the Fed with both hands and feet.

Source: NY Fed

Too Big To Fail Part 2

Obama Clearly Works for the Banks, Not the People #ows

The Obama healthcare plan did not address the costs, it simply expanded coverage to more people.  Arguably better than what we had before.  However, the true cost increases to healthcare are in medical liability insurance, super leveraged medical institutions increasing the price of service with new technology, the cost of real estate for hospitals and clinics, the cost of drugs to treat, and the big one is the 30-40% administrative overhead created by the PPO processes.

The banking regulations have yet to put any prominent bankers in jail for FRAUD.  Sidelines folks such as Bernie Madoff could no longer be ignored.

The HAMP and homeowners refinancing plans allow homeowners who are underwater to REFINANCE, creating additional interest charges and INCREASING the overall cost of the home.  This way the banks don't have to take writedowns.  With no prospects for growth in the economy, the value of the homes will not grow in the near future so what's the point of owning? At the same time the mortgage interest deduction is slated for elimination.

The student loan deal actually took the banks out of education costs so that was good for us, but what about the trillion dollar education debt bubble that is ALREADY out there.  With no prospects for growth, jobs are slim, but student debt cannot be avoided.

Can anyone point to ANY Obama legislation that actually REDUCED the debt burden or inflationary burden the American middle class is facing?

Did the CIA and/or IMF Assassinate Kirchner As Threat to All Debtor Nations? #PIGS

I would like to know what the Argentinian people think! Was there an investigation into his death? It could be a coincidence that the IMF had motive and the CIA has a track record.  These things need to be worked out.

Hmm. So far the IMF has failed with Chavez, Morales, and Castro. Need more help?

 The CIA took out the democratically elected leader of Iran and replaced him with a tyrant - the shaw http://www.iranchamber.com/history/coup53/coup53p1.php

 The CIA took out Torrijos in Panama and put in Noriega until he became a liability.http://www.wattpad.com/1240590-cia-hit-list-omar-torrijos-supreme-chief-of-panama?p=1

 The CIA setup Osama Bin Laden, Saddam Hussein, traded weapons with Iran with money from the cocaine trade in Latin America (Iran Contra)

And many more...

http://www.trutv.com/conspiracy/assassinations/cia-hits-misses/gallery.html?curPhoto=18

Amplify’d from readersupportednews.org

The Assassination of Nestor Kirchner by the IMF

Wednesday, 05 January 2011 01:08

Kirchner became the President of Argentina in 2002. He stood up to the IMF and refused to impose austerity measures on his people in order to repay the IMF. Because of the effectiveness of his non-austere economic policies, last month, Argentina finished paying off the last of the debt. Kirchner told Oliver Stone the bankers threatened constantly ("siempre") to kill him. People in Spain, Greece, and Ireland were calling on their governments to follow Kirchner's lead, and reject "austerity". There is every reason to think that the IMF bankers also threatened to murder the Prime Ministers of these countries, all off whom knuckled under to the IMF in the days after Kirchner's sudden and unexpected death from a "heart attack". Did the IMF finally follow through on their threats to murder Kirchner, in order to give credence to their threats against the Euro-peons? There is every reason to think so. The video ... shows Kirchner describing the threats as constant ("siempre") ... shows European populists calling on the people to support following Kirchner's example ... shows the head of the CIA, William Colby, describing a CIA pistol that shoots an ice-dart that leaves the target dead from heart attack, with "no evidence to indicate that the target was hit." Read more at readersupportednews.org

See this Amp at http://amplify.com/u/a175s2

USA Inc Needs a Bailout? #TBTF

If it wasnt for the Fed printing money and borrowing from every Tom Dick and Harry, we would probably need a bailout like Greece, Ireland, Spain, Italy, etc...

Clipped from www.cnbc.com

Banks Face $3.6 Trillion 'Wall' of Debt: IMF

The world's banks face a $3.6 trillion "wall of maturing debt" in the next two years and must compete with debt-laden governments to secure financing, the IMF warned on Wednesday.

The IMF and European Union bailed out Greece and Ireland, and are in talks with Portugal on a lending program as sovereign borrowing costs surge.

US banks built up capital buffers in 2009, when regulators completed a set of stress tests that revealed some large holes.

It said government debt was generally high and on a worrying upward path in many advanced economies.

It repeated its warning that the United States and Japan faced particularly dangerous debt dynamics. Read more at www.cnbc.com

 

Global Monetary Pyramid Scheme Crumbling

Spain, Italy, UK, Greece, Ireland, USA...

Clipped from news.yahoo.com

Spain public debt at 11-year high: central bank

AFP/File – Spain's public sector debt hit an 11-year high in the fourth quarter of 60.1 percent of gross domestic … – Fri Mar 18, 7:21 am ET MADRID (AFP) – Spain's public sector debt hit an 11-year high in the fourth quarter of 60.1 percent of gross domestic product, central bank figures showed Friday. The public debt rose to 638.77 billion euros during the period, up from 611.89 billion euros or 57.9 percent of GDP in the third quarter. The figure was slightly better than the government's forecast of 62.8 percent of GDP but it was still the highest level since 1999, when it reached 62.3 percent. The public debt includes debt from the central government, the social security system and regional and local administrations, and is a key measure of the financial health of a country. As an European Union member, Spain is required to keep its public debt below 60 percent of GDP. Follow Yahoo! News on Twitter, become a fan on Facebook Read more at news.yahoo.com