7 Million People Haven’t Made A Single Student Loan Payment In At Least A Year

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Posted on 22nd August 2015 by Administrator in Economy |Politics |Social Issues

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Tyler Durden's picture

Perhaps it’s all the talk about across-the-board debt forgiveness or maybe the total amount of outstanding student debt has simply grown so large ($1.3 trillion) that even those with no conception of how much money that actually is realize that it’s simply never going to paid back so there’s no point worrying about, but whatever the case, the general level of concern regarding America’s student debt bubble doesn’t seem to be at all commensurate with the size of the problem.

And it’s not just the sheer size of the debt pile that’s worrisome. There’s also the knock-on effects, such as delayed household formation and the attendant downward pressure on the homeownership rate, and of course hyperinflation in the rental market.

Of course one reason no one is panicking – yet – is that the severity of the problem is masked by artificially suppressed delinquency rates. As we’ve documented in excruciating detail, if one excludes loans in deferment and forbearance from the numerator in the delinquency calculation, but includes those loans in the denominator then the delinquency rate will be deceptively low. In any event, as WSJ reports, even if one looks at something very simple like, say, the number of borrowers who haven’t made a payment in a year, the picture is not pretty and it’s getting worse all the time. Here’s more:

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BIGGEST PUBLIC COMPANY RUNNING YOUR STATE

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Posted on 22nd August 2015 by Administrator in Economy |Politics |Social Issues

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Courtesy of: Visual Capitalist

Dow 5,000? Yes, it could happen

19 comments

Posted on 22nd August 2015 by Administrator in Economy |Politics |Social Issues

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Such a scenario can’t be completely ruled out

Don’t be surprised if stock markets stabilize or bounce back in the next couple of days. Markets are due at least a short-term rally after this week’s dramatic plunge. This usually happens after a sell-off, no matter what the next big move is going to be. It doesn’t mean anything.

But anyone who automatically assumes this is another easy “buying opportunity” is talking nonsense.

For the past couple of years, Wall Street’s perma-bulls have had it their way. They’ve been gloating openly as stocks went up and up and up, seemingly without pause.

It got to the point that those warning about valuations and danger signs had been mocked into silence — or were simply ignored.

Not now.

I don’t mean to be alarmist or to induce panic, but someone needs to tell the public that there is a plausible scenario in which the U.S. stock market now collapses by another 70% until the Dow Jones Industrial Average falls to about 5,000. The index tumbled more than 3% to 16,460 on Friday.

Dow 5,000? Really?

For 30 years, stock prices have been increasingly boosted by financial factors: collapsing interest rates and Federal Reserve manipulation, culminating most recently in ‘quantitative easing.’

I’m not predicting that will happen, but contrary to what the bulls tell you, it cannot be completely ruled out.

And even if that ranks as an outlier and a worst-case scenario, there are other, more likely scenarios where the Dow falls to somewhere between 10,000 and 12,000.

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MEANWHILE….GREEKS CELEBRATE DEAL WITH EU BY FLEEING GREECE

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Posted on 22nd August 2015 by Administrator in Economy |Politics |Social Issues

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At least the German bankers didn’t have to record any losses for their bad loans.

Police used stun grenades against the crowd as hundreds of refugees breached police lines. Migrants are being held behind barbed wire on the Greek side of the border with Macedonia. Macedonia has declared a state of emergency on its southern and northern borders over a surge in migrants and refugees. READ MORE: http://on.rt.com/6pji


A Young Man Was Supposed To Be Married Today. Instead, He Will Be Buried.

7 comments

Posted on 22nd August 2015 by Stucky in Economy

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In October 2007, Solomon Chau celebrated his 19th birthday in Ontario with friends. It was by pure chance that Jenn was visiting a friend, and that she wound up at Solomon’s party. Jenn would catch Sol’s eye … and two months later Sol took a more-than-three-hour bus ride around Lake Ontario during a snowstorm in December just to show up at her door and ask her out.

By spring of 2014, Sol organized a flash mob in the plaza beneath Toronto’s CN Tower and proposed to Jenn. Of course, she accepted.

 

The wedding was scheduled for TODAY — August 22, 2015. Instead, today is his funeral.

You see, in December 2014, Sol was diagnosed with liver cancer. Within 48 frantic hours, he was rushed into surgery. The doctors were able to remove the tumor which was poisoning his liver. By New Year’s Day, it seemed that everything was all right.

Except that it wasn’t. In March 2015 the cancer returned. Sol and Jenn were told that the ending was inevitable.

The story doesn’t end quite yet.

The city of Toronto rallied together behind the couple and surprised them with an unforgettable wedding on April 11, 2015. In just three days more than $50,000 was raised on GoFundMe to throw Sol and Jenn a lavish wedding. Expensive wedding vendors such as Boundless Wedding Videos (the video below), Red Earth Photography, and Liberty Entertainment Group volunteered their services free of charge.

Sol and Jenn look so happy. But, I wonder what it must feel like … to marry the love of your life, while knowing you’ll be dead a few months later. The wedding party and guests were in high spirits. Sometimes, even in the face of tragedy, it is the only thing one can be.

Today, Jenn is burying her husband of 128 days. Sometimes, life just isn’t fair.

WAL-MART FREAKS OF THE WEEK

2 comments

Posted on 22nd August 2015 by Administrator in Economy |Politics |Social Issues

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Well if this isn’t an editorial cartoon played out in real life. So is that dude just lazy or is Walmart that bad to work for? True art makes you question things….So I hear. I still think movie posters are decoration, so what the hell do I know?

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It’s like you forget they don’t know they’re doing it. I mean, come on. If my socks aren’t covering enough ankle I know it, you can be damn sure if my ass cheeks were hanging out that I’m well aware of the situation.

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QUOTE OF THE DAY

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Posted on 22nd August 2015 by Administrator in Economy |Politics |Social Issues

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“He simplified the confused and puzzling nature of the age. He told his audience in a clear and simple way what the man in the street had long thought, but did not have the courage to express. He said what everyone thought and felt. More than that, he had the public courage more than anyone else to say with a simple logic what had to be done.”

Joseph Goebbels, Der Führer als Redner


Trump has ALWAYS been Trump

44 comments

Posted on 22nd August 2015 by T4C in Economy |Politics |Social Issues

Came across this video of Trump. Trump is consistent behaviorally, i.e: He is what he is. 

This is an interesting (and damning) bio-documentary of The Don up to the 90’s. Lots and lots of stuff I didn’t know about him. Wonder if any of it will come back to haunt him.

 

 

Aaaaannd…Brother Nate weighs-in on Trump.

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“What about black brutality?” — Viral rant by a black woman

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Posted on 22nd August 2015 by Stucky in Economy |Politics |Social Issues

An African-American woman’s rant about the hypocrisy which plagues the ‘Black Lives Matter’ movement has gone viral.

Peggy Hubbard, who lives just across the river from St. Louis in Belleville, Illinois, slams BLM for tearing up communities in response to a thug being shot dead by police while ignoring the issue of black on black violence that led to the death of a 9-year-old girl in Ferguson.

Hubbard began by talking about the aftermath of the police shooting of 18-year-old Mansur Ball-Bey, who reportedly pointed a handgun at officers while he was fleeing a crack house in north St. Louis on Wednesday.

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The Ultimate In Doom Porn: China Invades the USA

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Posted on 22nd August 2015 by Stucky in Economy

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Holy Shit.  Doesn’t get much Doomier than this …….. IF it’s credible (which I doubt).

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The Chinese Plan To Occupy America

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(Davie Hodges)  Mike Adams, the Health Ranger, is stating that based on evidence derived from Chinese dissidents, that the Chinese, in response to the American space-based attack upon Tianjin, will launch a three-pronged attack from the United States from 7,000 miles away. The attack will consist of the following strategies:

Layer #1) An attack on the dollar and U.S. debt instruments.

Layer #2) A massive cyber warfare attack on the U.S. infrastructure.

Layer #3) An attack on U.S. military satellites to maximize the disruption of military communications, banking transactions, emergency services and other systems that depend on satellite communications.

I have written extensively on how the Chinese have already demonstrated the ability to engage in attacks, upon American, in all three domains described above. Mike Adams assertion that the Chinese are capable of, and will employ, attack strategies from all three of these areas is correct and have already happened, at least in a Beta test mode.

I need no convincing that Mike Adams is correct, but I do not believe that these three areas of attack represent an end game strategy and I am not sure that Mike believes that either. I have a slightly different take as I am convinced that these attacks are the military equivalent of a long-range military bombardment designed to weaken American for the final kill. The utilization of these three modes of attack can and will bring America to her knees as the economy is collapsed. The three pronged attack will be followed up by Chinese occupation troops.

The Effects of a Three-Pronged Chinese Attack

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FRIDAY FAIL

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Posted on 21st August 2015 by Administrator in Economy |Politics |Social Issues

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FALSE ADVERTISING

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Posted on 21st August 2015 by Administrator in Economy |Politics |Social Issues

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Via Knuckledraggin