Posted 7 months ago on Nov. 8, 2018, 6:26 p.m. EST by agkaiser
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 ..."