America is so rich that money grows on trees.
Well, if one considers credit cards and debt to actually be money, then maybe it does sort of grow on trees because access to debt is virtually everywhere. The American masses have come to think of debt as a necessary part of their daily existence, and for some, it is the bridge that gets them from one month to the next, filling in the gaps left between rising prices and stagnating wage growth.
Debt is, of course, a massive trap created by those who understand the money creation process, the role of the Federal Reserve private central bank that runs the country, and the scam of central banking.
Do people ever stop to wonder why kids are not taught about credit and debt in a meaningful way in school?
Because the people that created the banking system and the fiat currency scam do not want people to really understand how the money process actually works because they would see how the con is perpetrated and remove their participation from the dirty system. They would come to understand that debt is just another form of slavery with invisible chains and shackles, disguised as a tool for functioning in a normal Western society.
The statistics about debt are not only frightening, but endemic of a culture that is built on lies, surface good looks, perception, peer pressure, jealousy, and a deep-seated desire to keep up with the Joneses and give the outward appearance of success to others.
- In the past decade, the amount of student loan debt held by American college students and recent graduates has doubled to $1.5 trillion, with $166 billion of that amount considered to be “seriously delinquent”. Due to legislation by the student loan debt industry, it is not possible to discharge student loan debt through bankruptcy either.1
- Debt related to car loans for Americans is nearly as high as the totals for student loans, right at $1.3 trillion and rising, with 7 million Americans delinquent on their bills.2
- The combined total of consumer debt in America has recently exceeded $4 trillion, with no slowing down in sight.3
- There are just about half a billion credit cards being used in the United States currently, with a total balance of just under a trillion dollars.4
- More than half of all Americans with a credit card balance have been carrying it for over a year, with 37 million people classified as being “seriously delinquent” on their debt.5
- Home loan debt in the United States is an astronomical $13.15 trillion and counting.6
- The generation called Millennials is already more than $1 trillion in debt, setting themselves for a future of economic slavery and indentured servitude to the banks and credit card companies.7
With debt hitting Americans from every angle: cars, house, student loans, credit cards, and medical, is it really any surprise that more than three out of four people are living paycheck to paycheck?
To be fair, how disciplined can society expect the American people to be when they have a role model like their own government that prints money with no thought to the consequences of it all? At $21 trillion and growing, it is kind of like having your alcoholic father lecture you about the dangers of drinking too much at college. The government has put entire wars on their corporate AmEx card.
There has been talk by some political hopefuls that if elected President of the United States they would wipe away the $1.5 trillion in student loan debt as a way to literally bribe people into voting for them.
But if they forgive student loan debt and let everyone go to college for free, how will the government be able to convince poor kids to join the military?
And just how is a country trillions of dollars in debt able to keep giving billions of dollars in aid to foreign countries?
Easy, just bribe the politicians. It certainly is not their money they are giving away.
Is there anything more symbolic of the American psychosis than putting the costs of a war on a credit card to be paid back much later, with interest, to a bunch of bankers who literally created that money out of thin air?
At one point before the Iraq invasion and during the process of selling this turd to the American public, Defense Secretary and universally despised scumbag, Donald Rumsfeld, assured the people that the costs associated with their planned war would not exceed $50 billion.8
Want to take a crack at what the current estimates are for the costs of the Iraq war and the future liabilities associated with it?
This is why voters should never allow politicians to be in charge of the money. They have a problem with the truth, to put it nicely. Now if this was their own life savings, one could bet they would be a little bit more objective about the actual costs associated with making a purchase of this magnitude.
Why does America bully the rest of the world and invade sovereign nations because they are a “threat” to the American way of life, yet they totally ignore the Federal Reserve as if they are not the main culprit of the debt crisis that is a huge threat to the United States? America invents fake reasons to slap sanctions on a foreign country that rubs them the wrong way; they drone strike wedding parties killing 200 people just to get one guy that they think might be a terrorist; they have destroyed entire countries like Libya, Iraq, and Afghanistan on totally fabricated pretenses; but the United States has not destroyed the one organization that they owe $21 trillion to? Why not?
People skip town when the loan shark comes looking for them all the time, or in some cases, they kill the people that they owe their debts to so that they no longer have to pay them back. As deeply criminal, psychotic, and imperial as America’s foreign policy is, it seems unrealistic that it never crossed their minds to whack the Federal Reserve so that they do not have to pay back all that money. From a psychopathic standpoint, it has to be an option, right? The American government is not going to save all the change from their ashtrays in their car in order to start paying back this money because that is not the way they operate. The fact that the Federal Reserve, a private bank, despite what the media and your history books try to tell you, is still functioning is the reason to believe that they control the government, because if they did not have that amount of influence then they would not exist. They would have been blown to smithereens by now. It is the only logical explanation for the continued existence of the Federal Reserve.
The central banks run the world, but one should probably not expect to see that story on their Nightly News.
1 Marketwatch, May 12, 2018, Jillian Berman, “Student Debt Just Hit $1.5 Trillion”.
2 Car & Driver, February 13, 2019, Drew Dorian, “Seven Million Americans Delinquent On Auto Loans Could Be A Bad Sign”.
3 CNBC, February 21, 2019, Jessica Dickler, “Consumer Debt Hits $4 Trillion”.
4 Nerdwallet, December 10, 2018, Claire Tsosie, “2018 American Household Credit Card Debt Study”.
5 End Of The American Dream, March 6, 2019, Michael Snyder, “Deadbeat Nation: 37 Million Credit Card Accounts In The US Are Seriously Delinquent Right Now”.
6 Credit Karma, April 17, 2019, Mika Behatia, “The Massive Debt Hangover: U.S. Household Debt Climbs To A Record $13.15 Trillion”.
7 Bloomberg, February 25, 2019, Alexandre Tanzi, “Millennials Are Facing $1 Trillion In Debt”.
8 Washington Post, March 9, 2008, Joseph Stigletz, “The Iraq War Will Cost Us $3 Trillion And Much More”.
9 Stars And Stripes, November 14, 2018, Claudia Grisales, “The Cost Of Post-9/11 Wars Hit $5.9 Trillion, 480,000 Lives Lost, Study Says”.
Provide, Protect and Profit from what’s coming! Get a free issue of Counter Markets today.