Forum Post: Consumer Debt: a Sugar Rush
Posted 6 years ago on Nov. 8, 2018, 6:26 p.m. EST by agkaiser
(2555)
from Fredericksburg, TX
This content is user submitted and not an official statement
Consumer debt is the rise and fall mechanism of our sugar rush economy. The more money the lenders and investors (money put in the credit industry provides the greatest returns) make the more they take. The exponential rates of growth of debts are the same as the interest rates. Contemporary economic "growth" makes something from nothing. Ex Nihilo Nihil Fit! Perpetual motion of money is no exception.
The higher it climbs the greater the fall. I predict it won't be long now. Look what's happened every time the Dow has risen to record territory since 1928.
"Consumer debt - or euphemistically, consumer 'credit' - jumped 4.9% in the third quarter compared to the third quarter last year, or by $182 billion, to almost, but no cigar, $4 trillion, or more precisely $3.93 trillion (not seasonally adjusted), according to the Federal Reserve ..."
https://www.nakedcapitalism.com/2018/11/wolf-richter-state-american-debt-slaves-q3-2018.html
Compound capital gains, profit and interest increase the price of everything, the wealth of the few and the debt of the many at an exponential rate. Banksters and billionaires are a threat to the survival of the human race. They are more dangerous than all the tyrants and terrorists since the beginning of civilization.
Once a virtual currency such as Bitcoin establishes itself as being widely used, inflation may become very sluggish. The volume of Bitcoin grows even slower than the volume of gold so on a storage-of-value basis needed for a "money," Bitcoin is even better than gold due to its having an even lower mining rate.
To become a reserve monetary base, Bitcoin needs a huge market therefore it needs to be widely accepted. Bitcoin is "fungible" because the same number of Bitcoins are interchangeable without affecting their stored value.
With Bitcoin, there is NO [Non-]U.S. [Non-]Federal [No-]Reserve that can create currency "out of thin air" eroding the stored value arbitrarily. Any individual or country suffering from the erosion of stored value in their currency can nearly instantaneously grind inflation to a sluggish pace by switching to using Bitcoin. Of course, since most governments are control freaks by their eternal quest for power, they dislike Bitcoin because "money" can truly fly at electronic and photonic speeds anonymously and untraceably. Yeah, it's definitely NOT only good for the illegal drug trade. By widely dispersing the function of "the middleman" through encryption, it's truly a cutting-edge fly-by-wire/fly-by-light money.
Of course, the A.S.S.(die amerikanische Staatssicherheit) may eventually figure out why the content of the load it carries across a brook makes a huge difference in how difficult it is to bring the load to town. Salt is very different from sponges when carried to town on the back of the A.S.S. because it dissolves in the brook but sponges gain weight by absorbing water from the brook.
To buy or sell, one must get a number first!
Dr Pangloss can shine this turd!