Sink or Swim

sink in debt

Sink or Swim.

It’s no secret that our country is drowning in debt. U.S. consumer debt has reached about $90,460 per household, a number that has nearly doubled over the past 10 years and doesn’t include $9.86 trillion in mortgage debt. Consumer debt today equals 130% of the average household’s annual disposable income. This is set to rise exponentially with the recent pandemic. 

Wait a second. Did I say 130%?  How can you owe more than you make?

It is a nationwide problem, affecting a wide range of people, but it’s become a growing headache for well-to-do professionals who never thought they’d be in such a predicament. Every day, people are losing their ability to carry the load, a trend that’s resulting in a steady flow of home foreclosures, credit card defaults and personal bankruptcies. Don’t make that fatal mistake. 

What’s causing this Bankster street war? Clearly a lot of people have only themselves to blame, for an insatiable appetite to consume, buy things they really can’t afford, for not saving enough and for poor financial planning. But don’t put all the blame on yourself; drop the guilt complex and read on. I’m going to show you how you were pulled into this predicament and how it`s right where the slave trade wants you to be. What is truly terrifying is how it’s mixed in government control of your very life.

Bad habits are far from the only factor. Debt has never been easier to acquire — or more unavoidable for those seeking the basics of the American dream.

Years ago, if you wanted a home, car and family you saved, bought and worked for your next dream. Consumers didn’t choose to raise the sticker price of a year at the university by 35%,  to 70%  depending on where you want to attend. They didn’t anticipate that the median price of a home would increase by a third between 2013 and 2020, or that the income required to afford it would jump 55%, even as real wages fell by 1%. And consumers certainly didn’t choose to be assaulted by the sophisticated information-sharing and marketing apparatus of an industry that netted record profits lending money.

CONSUMERS HAVE BEEN PUSHED INTO DEBT BY BANKSTERS AND THEIR DESIRE TO MAKE MORE MONEY ON THE DOLLAR.  The average household credit card balance has more than tripled since the early 2000s. The lure of credit deals that cloak the real costs in the fine print are a plague, and it means certain financial death if you’re infected unless you catch the symptoms and act on your debt. For most of us, debt comes in the form of a small piece of plastic we carry in our wallets or purses, but most people are unaware that what really made the card so powerful was the fact that In 1978. The Supreme Court ruled it legal to export interest rates across state borders and this is what gave the Banksters their ticket to spread their debt cards nationwide and ultimately opened a whole new frontier of markets.

Virtually anyone with a means of producing an income became a potential customer and they could charge rates of 30% based on the originating card location! Profit potential from the soaring rates gave Banksters even greater motivation to push their plastic. Today there are around 1.1 Trillion cards in the U.S. The average household has about $5,000 to $10,000 in credit card debt. In 1980 the average was about $1800 to $2000. Just about everyone who wants a card has one and banks that issue them have cranked up the sales pitch. “Banksters want to hook consumers on credit,” and boy have they succeeded!

 

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