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The Scariest Chart Of The Quarter: Student Debt Bubble Officially Pops As 90+ Day Delinquency Rate Goes Parabolic

November 28, 2012

We have already discussed the student loan bubble, and its popping previously, most extensively in this article. Today, we get the Q3 consumer credit breakdown update courtesy of the NY Fed’s quarterly credit breakdown. And it is quite ghastly. As of September 30, Federal (not total,just Federal) rose to a gargantuan $956 billion, an increase of $42 billion in the quarter – the biggest quarterly update since 2006.

Read more and see charts at:

http://libertycrier.com/finance/the-scariest-chart-of-the-qu...

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Must just be our group

But since we see how bad debt slavery is, I'm guessing you are on the same page as me. Don't go into debt, but if you have to, pay it off asap.

I got a 2 year degree in 1997 and a Bachelors degree in 2001. My student debt is ZERO.

If a person chooses to go

If a person chooses to go into debt, how is it "debt slavery"?

My philosophy is, never buy something you can't afford to pay off with savings.

In the case of health concerns that cause bankruptcy and the like, the situation is clearly completely different.

Scariest Chart Chart of Financial Matters

Chart: http://3.bp.blogspot.com/_oUc6WpOAwto/TGwg0_S9pYI/AAAAAAAAZ2...

Here is an brief explanation for the curious: http://coyoteprime-runningcauseicantfly.blogspot.com/2012/03...

3, 2, 1. Ready or not, here I come!

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Imo

All these students and former students will be drafted to fight the Chinese to clear their debts in the future if there is a war with them.

donvino

bullshit china only owns a

bullshit
china only owns a small fraction of our debt

wrong.

wrong.

Wanna bet?

http://www.huffingtonpost.com/2011/03/02/biggest-us-creditor...

"China owned $1160.1 in billions in U.S. debt in December 2010"

"Japan owned $882.3 billion in U.S. debt in December 2010"

"The United Kingdom owned $272.1 billion in U.S. debt in December 2010"

As of 2011:

http://en.wikipedia.org/wiki/United_States_public_debt#Forei...

"Foreign holdings

Composition of US Long-Term Treasury Debt held by foreign states, Nov. 2005–Nov. 2010. June figures are results of comprehensive Treasury Department surveys.
As of January 2011, foreigners owned $4.45 trillion of U.S. debt, or approximately 47% of the debt held by the public of $9.49 trillion and 32% of the total debt of $14.1 trillion.[72] The largest holders were the central banks of China, Japan, Brazil, Taiwan, United Kingdom, Switzerland and Russia.[74] The share held by foreign governments has grown over time, rising from 13% of the public debt in 1988[75] to 25% in 2007.[76]"

According to business

According to business insider, the Federal Reserve owns 1.6 trillion in debt and the SS Trust has 2.6 trillion is us debt. That's who owns the most.

Even so, $1+ trillion isn't

Even so, $1+ trillion isn't an insignificant number, is it?

0.05 % of US Economic Annual Cash Flow

$1 Trillion / $2,000 Trillion = 0.0005 = 0.05 %

Fed Inflates Itself Beyond "Alice in Wonderland" ... $2 Quadrillion Mark Twain, 10/17/2012

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

"Pretty soon, you're talking

"Pretty soon, you're talking about 'real money'".

Sound money might require 20 mule tams.

Maybe Borax could be used to transition away from the Fed.

And when subsequently transitioning away from Borax to sound money, the Borax could be put to immediate useful purpose. It does miricule work for heavy duty cleaning. Imaging the remains of the Fed, Borax clean. Heck! Why stop there? $2 Quadrillion worth of Borax might just clean every inch of every central bank! Spotless, maybe?

Or do I exaggerate?

Pleasure crossing paths. I best get a move on... Regards,

Disclaimer: Mark Twain (1835-1910-To be continued) is unlicensed. His river pilot's license went delinquent in 1862. Caution advised. Daily Paul

Likewise. Always a pleasure,

Likewise. Always a pleasure, Mr. Twain.