Americans have charged a record $1 trillion to credit cards and other forms of revolving debt, the Federal Reserve Bank of St. Louis announced last week.
Tag: debt
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GLOBAL DEBT AND THE HUMAN BUBBLE
“The world’s central banks are responsible for creating a “market” for their product, “currency backed by nothing,” by fostering a population boom and consumers who are dependent on their product.” —GM
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THE ENTIRE WORLD FINANCIAL SYSTEM IS ON A KNIFE’S EDGE
Today, at its core, the world financial system is in crisis. More specifically, liquidity in the system is drying up. What this translates to is this, without world central banks both issuing, and then buying back exponentially more debt the entire system implodes.
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EXPECT A NEW DEBT EXPANSION CYCLE TO BEGIN
If central banks do not find another mechanism to continue to inflate, IMMEDIATELY, the entire global financial system will melt down.