Americans Are Tapped Out as Debt MAXED OUT as Delinquencies and Layoffs Rise!

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Panic sets in when delinquencies rise too high. Just like in 2007 with subprime, it doesn’t take an extremely high percentage either. Just enough to break the derivatives. Look at how many people simply look at the percentage (which is still reasonably high) and suggest it’s not a problem. They don’t understand what derivatives are. End of story. What do you think is going on with consumer debt today?


Debt can expand for years. In fact it has to or else the system will collapse. There’s no possible way that this can go on forever and that’s why every so often a slowdown occurs and then we have an economic calamity. It’s a cycle. But what’s notable is that right now, Americans and for that matter, just about everyone in the world is in the most amount of debt they have ever been in, in history. But I just got pre-approved for another credit card so I guess, don’t stop the party just yet?


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