Debt Rattle Sep 16 2014: Subprime Is Back With A Vengeance
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Christopher Helin Franklin car on slope, San Francisco. 1920 A few days ago, I wrote an essay about how ECB head Mario Draghi seeks to redefine the de
[See the full post at: Debt Rattle Sep 16 2014: Subprime Is Back With A Vengeance]“The Obama administration is moving to ease access to student loans for parents with damaged credit, a policy reversal that could saddle poor families with piles of debt but also boost college enrollment.
Under a plan likely to take effect next year, the Education Department would check the past two years of a borrower’s credit, instead of the current standard of five, for blemishes such as delinquencies or debts in collection. Also, any delinquent debts below $2,085 would be overlooked; currently, delinquencies of any amount are grounds for rejected applications.”
https://market-ticker.org/akcs-www?post=229412
Oh, the sweet smell of credit-unworthiness! Lowering the bar one loan at a time.
Credit expansion= Dilution of currency.
Go all in the long bond if you still believe in deflation.
Not me.
“If history teaches anything, it is that government cannot be trusted to manage money.”
“What better reason is there to vote Yes than seeing Greenspan, McCain and Zoellick get involved on the No side?”
And George Soros
“Britain needs greater unity not a messy break-up”
https://www.ft.com/intl/cms/s/2/60925130-3831-11e4-a687-00144feabdc0.html
Professor – “If history teaches anything, it is that government cannot be trusted to manage money.” And government cannot be trusted because the people who run for office usually have a price and can be easily bought/corrupted. They are a certain breed of person.
Ilargi said “The only thing that’s certain is that in the end, your money will all be gone.”
10/17/13 Slowly at first, then all at once
6/5/12 Fragility and Collapse: Slowly at first, then all at once
https://cluborlov.blogspot.com/2012/06/fragility-and-collapse-slowly-at-first.htmlTrue, bluebird.
But “all at once” can take decades. Likely at least a couple generations from when participation goes from “voluntary” to mandatory. When you see armed military troops in front of the banks, figure it has only begun.
As I said somewhere else on here, what is and has been taking place since 2008 is Nationalization of the entire US economy. Our rulers have been enamored with the Chinese “Miracle” of “Government Controlled Capitalism” which isn’t Capitalism at all.
Imagine the visions of absolute power circulating through the halls of elite political institutions about now.
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