Please forgive me while I rant on how we’re abused by debt.
Tens of millions of Americans are in debt (especially after Christmas), through their credit cards to Walmart. But the Walton family is realizing profits in the multi-billions.
The U.S. Government has run debt into the trillions by funding mostly elective wars. But defense contractors realize profits in the hundreds of billions.
Our country goes into billions of dollars in debt funding EBT cards (food stamps). But JP Morgan makes billions of dollars administering the program.
The Too Big To Fail banks (TBTF) make untold billions of dollars by loading up Americans with trillions of dollars worth of debt… charging them 15% to 30% for credit cards, used car loans and who know what for student loans.
The TBTF banks borrow that money from the Fed for less than 1%. The profits these banks make are in the hundreds of billions, while the losses incurred by student loan defaults are paid for by us, the taxpayers.
What serves as debt to the masses and to the country, serves a as multi-generational profit to the elite wealth extractors.
What’s wrong with this picture?
Whew!
I’m glad I got that off my chest.
Check that!
I’ve been preaching for years about how all empires eventually collapse under the weight of their own debt. And what frustrates me the most is it seems as if it falls on deaf ears.
All governments are historically very poor managers of money and eventually default on their debt.
Guess who gets hung out to dry?
The big question is: When does is happen to us?
We don’t know exactly when.
But you need to have a game plan, not only to survive the inevitable reset but to also profit from the inevitable.
Read our January Newsletter to see how.
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