TV News LIES

Monday, May 25th

Last update07:03:51 PM GMT

You are here News Editorials Prairie 2: Coming to your mailbox, economic recovery?

Prairie 2: Coming to your mailbox, economic recovery?

E-mail Print PDF

Credit cardsRemember when the credit card offers came in your mail by the handful? Those days maybe about to return. Credit card debt backed securities (they call them bonds now) are now the hot investment with tens of billions being issued by the big banks.

The reason these new bonds are so popular is that investors are suddenly seeing credit card debt as a safe again. In fact they are so popular that they aren't paying returns all that much better than government bonds that pay hardly anything at all.

The reason for this that's being given by the business news is that consumers are newly reliable since all the 'bad risk' accounts have already gone bankrupt since 2008. But that would have been true last year and the year before that. The reason consumer bankruptcies are now seen an acceptable risk is that prior to Obamacare coming online, fully two thirds of bankruptcy filings listed medical debt as the primary cause.

Health insurance companies are now required to pay the bills with no annual or lifetime caps and rescission is prohibited. That's where you think you have insurance until you actually need it,  - half of medical debt driven bankruptcy filers had insurance.

The impact on the economy is obvious, more credit means more spending and that means more jobs, then more spending, more credit, more spending, the housing market picks up, more jobs, more spending, on and on. Of course a lot of the money will end up in China, and more importantly, in the Cayman Islands where corporations divert all their profits by over pricing the imports that they buy from their own off shore divisions.

More...


Most Recent Related Stories...


Reprint from 2005: The Snake Oil Merchants Who Sold Us A War!!

Condy Rice, war mongerTalk about putting one over on the American people. This one takes the cake, it really...

Noam Chomsky: The Middle East Is on Fire, Thanks to U.S.

Middle east fires - USEarlier this month, Dan Falcone and Saul Isaacson, both high school educators, sat down with Noam...

Paul Krugman: The Bush administration wanted a war and concocted the intelligence.

Krugman"Mistakes were made" just doesn't get at the truth about how America was coerced into the...

Bruce Enberg: I'll bet you a Yuan to a Baklava

Yuan First Quarter US GDP came in at 0.2%, which is down from 2.2% in the Fourth...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!