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US Household Debt Is Rising 60% Faster Than Wages, And One Rating Agency Is Worried

In a report released today by DBRS titled “Consumer debt and debt burden”, the rating agency which is best known for keep Italian debt eligible for ECB monetization at the peak of the European banking crisis, looks at the latest Quarterly Report on Household Debt and Credit issued by the NY Fed (discussed here previously) […]


Mauldin: 8 Charts That Show How Insane The Economy Is Today

Authored by John Mauldin via MauldinEconomics.com, Since the 2008 financial crisis, there’s been a growing number of ridiculous, inane, and otherwise nonsensical economic interventions from our central bankers that fill the daily economic headlines. I have gone from the occasional smile to scratching my head now and then to "WTF" moments. All that said, the […]


A Look At Which Students Are Most Likely To Default On Their Student Debt

Since the early 2000’s the amount of student debt outstanding has grown exponentially, along with annual tuitions, and now stands at nearly $1.5 trillion.  Moreover, and not terribly surprisingly, defaults on that growing mountain of student debt have also surged as graduating students quickly discover that they just dropped $200,000 on a near-zero ROIC investment. […]


Millions Of Millennials Could Be Trading Sex For Their Next Debt Payment – Here’s How

As the storm clouds of peak stupidity gather over the heads of the millennial generation who were conned by banks, government, and universities to take out excessive amounts of leverage in auto loans, credit cards, and student debt; millions have flocked to a new website seeking ‘Sugar Daddies’ and or even ‘Sugar Mommies’ to pay off […]


The Fed Issues A Subprime Warning As Household Debt Hits A New All Time High

After we first reported last week that US credit card debt once again rose above $1 trillion, despite a recent sharp downward revision to the data, while both student and auto loans rose to a fresh record high… … it would probably not come as a surprise that according to the just released latest quarterly […]


About 33% Of Students Drop Out Of College; Here’s How Many Go On To Default On Their Student Debt

Roughly 70% of America’s bright-eyed and bushy-tailed high school seniors will go on to binge drink study at a 4-year college, but, to our complete shock, less than two-thirds of them will manage to graduate with a degree.  Even worse, 30% of the students will drop-out after just one year on campus. Not surprisingly, a […]


Matt Taibbi Exposes The Great College Loan Swindle

Authored by Matt Taibbi via RollingStone.com, How universities, banks and the government turned student debt into America's next financial black hole… On a wind-swept, frigid night in February 2009, a 37-year-old schoolteacher named Scott Nailor parked his rusted '92 Toyota Tercel in the parking lot of a Fireside Inn in Auburn, Maine. He picked this […]


How The Elite Dominate The World – Part 1: Debt As A Tool Of Enslavement

Authored by Michael Snyder via The Economic Collapse blog, Throughout human history, those in the ruling class have found various ways to force those under them to work for their economic benefit.  But in our day and age, we are willingly enslaving ourselves.  The borrower is the servant of the lender, and there has never […]


Is The Bubble About To Burst? Student-Loan Delinquency Rates Rise For First Time In Years

Since the financial crisis, most market observers and economists have cheerfully ignored the aggregate student-debt load in the US, which recently swelled to an economy-threatening $1.4 trillion. Even as student-debt, which can't be discharged in bankruptcy, grew to represent 10% of the total US debt burden, defenders of the status quo pointed to declining default […]


Our Crazy-Making, Profiteering Education-Career Maze

Authored by Charles Hugh Smith via OfTwoMinds blog, The answer is not another $1 trillion in student loan debt to pay for another raft of declining-value credentials. So let's say we want to set up a system to help students choose a career that fits their aptitudes and interests. What would we do? How about: […]


The Average American Had A Bigger Savings Account… In 1997

Authored by Simon Black via SovereignMan.com, Quite literally as a I write these words to you, the heads of the world’s largest central banks are packing their bags and heading home after a three-day symposium in Jackson Hole, Wyoming. Central bankers aren’t exactly mega-celebrities, so their conferences don’t make international news outside of financial circles. […]


Which College Offers The “Best Bang” For Your Tuition Buck?

Is making the investment in a college education still worth it? How much debt can you expect to have after you graduate, and how much money will you make in your career? As HowMuch.net details, Nitrocollege.com crunched the numbers from the top twenty public and top twenty private schools in the country and created a visualization […]


The Fed Issues A Warning As Household Debt Hits New All Time High

After we first reported last week that US credit card debt hit a new all time high with both student and auto loans rising to fresh records with every new report… … it won’t come as a surprise that according to the just released latest quarterly household debt and credit report by the NY Fed, […]