The student loan bubble continues to collapse as the Q4 Quarterly Report on Household Debt and Credit Report from the Federal Reserve Bank of New York shows that the 90-plus day delinquency rate on student loans now stands at 11.7 percent. Student loan debt is now at $970 billion and higher than credit card debt, […]
Archives for March 2013
Higher taxes squeezing U.S. households, rich families most taxed in 34 years
The Commerce Department released data Friday that showed consumer spending was rather moderate in January and households across the United States were squeezed because of higher taxes. Although consumer spending was up by a timid 0.2 percent, the increase was due in part to utilities because of the frigid winter weather. A paucity of spending, […]
Did the sequester cost ‘over 170 million jobs’? Maxine Waters says it will
The $85 billion in the reduction in automatic spending increases took into effect on Friday, despite President Barack Obama and the Democratic leadership attempting to scrap it because it’s, simply, “dumb.” Well, the sequester is so bad to some that it could cause to job losses of more than 170 million, according to California Democratic […]
Video: Are you prepared for an economic collapse in America?
The below video is geared towards “preppers” but I think much of it applies to everyday Americans who are concerned about the economy and what the future holds for themselves and their families. In the video VisionVictory covers three basic things you need to consider in the event of a possible collapse of the U.S. […]
Peter Schiff: Bernanke Fed bluffing on exit strategy, dollar collapse inevitable
In a new video blog, Peter Schiff explains why the chairman of the Federal Reserve almost comes clean on his lack of an exit strategy to his massive monetary stimulus. There is no way the Fed can stop printing as it has created an unsustainable economy which is now dependent on cheap money. The only […]