Part 2: U.S. Household Debt...
There is a way out…
ZeroHedge, Nov 7, 2017 – Excerpts:
…The 100 months of so-called recovery have been wasted from a deleveraging point of view. In the case of the US household sector, for example, the 20-year surge in debt obligations prior to the 2008 crisis caused total liabilities outstanding to soar by 5.2X, and to rise from 57% of GDP when Greenspan launched the era of bubble finance in Q3 1987 to nearly 100% of GDP on the eve of the crisis.
Nevertheless, after a small net reduction in debt immediately after the crisis, total household liabilities have continued to rise, and now exceed $15.1 trillion. Accordingly, just 250 basis points of interest normalization will cause the carry cost of household debt to rise by upwards of $400 billion per year or nearly triple the amounts of the ballyhooed tax cut.
Needless to say, US households will be far from alone—and also far from the most vulnerable balance sheets—-in the coming global reset of debt costs. At present, the Red Ponzi is staggering under $40 trillion of state and private debt or more than 3.5X its nominal GDP—-as vastly overstated and unsustainable as its official GDP figures actually are.
It is time to move…
The Leviticus 25 Plan is a dynamic economic initiative providing direct liquidity benefits for American families, while at the same time scaling back the role of government in managing and controlling the affairs of citizens. It is a comprehensive plan with long-term economic and social benefits for citizens and government.
The inspiration for this plan is based upon Biblical principles set forth in the Book of Leviticus, principles tendering direct economic liberties to the people.
The Leviticus 25 Plan 2018 – $75,000 per U.S. citizen