Category Archives: Debt

no way we can go on like now with 56 trillion dollars of overall debt

Signs of Peakiness, oil companies are running out of cash

Andrew Nikiforuk, August 29, 2014. A big summer story you missed: Soaring oil debt. The Tyee.  Over 100 of the world’s largest energy companies are running out of cash. Photo of Keystone pipeline in Nebraska by Shannon Ramos. Creative Commons … Continue reading

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Student loan crisis widens gap between rich and the rest

Student loan crisis widens gap between rich and the rest. Bill Zimmerman.   February 21, 2014.  San Francisco Chronicle. Growing concern about wealth and income inequality overlooks a principal cause: the student loan crisis, which is much deeper than the $1.1 … Continue reading

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How you’re tricked into thinking there is an economic recovery

Ilargi 2011 theautomaticearth A real recovery would require a surge in real productivity, i.e. outside of the service industry. Where and how have we increased production since the crisis started? Obviously, nowhere. The vast majority of “jobs created” is in … Continue reading

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Drowning in digits: National, Unfunded Liabilities, State, and Derivative Debt

Just about everyone I know believes in the permanence of the Dollar, the Eternal Supremacy of the United States, and the propaganda to constantly grow their money by taking risks. So they dutifully feed hard-earned wages into the voracious slot … Continue reading

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Why the USA can’t inflate its way out of debt.

Mar 11, 2010. Why the U.S. can’t inflate its way out of debt. Financial Times. It’s dawning on people that getting a handle on burgeoning U.S. debt will be a long and hard process. So if lawmakers can’t agree on … Continue reading

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Debt relief scams

Aug 20 2013 CFPB Files Suit Against Morgan Drexen for Charging Illegal Fees and Deceiving Consumers Company Made Misleading Claims about its Debt-Relief Services to Consumers May 30 2013 CFPB Takes Action to Stop Florida Company From Engaging in Illegal … Continue reading

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Auto Loan Scams

Dec 20 2013 CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing   Ally to Pay Additional $18 Million in Civil Penalties for Harming More Than 235,000 Minority Borrowers Jun 27 2013 … Continue reading

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CFPB Sues For-Profit College Chain ITT For Predatory Lending

Feb 26 2014 CFPB Sues For-Profit College Chain ITT For Predatory Lending ITT Pushed Consumers into High-Cost Student Loans Likely to Fail WASHINGTON, D.C. — Today the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against ITT Educational Services, Inc., … Continue reading

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Consumers Report Being Hounded About Debts Not Owed

Mar 20 2014 Consumers Report Being Hounded About Debts Not Owed Top Debt Collection Complaints Also Include Aggressive Communication Tactics and Threatening Illegal Actions WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) today issued a report on the more … Continue reading

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Credit Card Debt

May 1, 2008 U.S. Credit Card Debt Soars to Unprecedented Heights http://en.epochtimes.com/news/8-4-28/69849.html Studies indicate that credit card defaults and related write-offs increased drastically since 2006. Today, lenders write off 33 percent more in credit card debt than they did two … Continue reading

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