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According to Michael Pento, despite the propaganda, what is really happening in the U.S. is terrifying. By the end of 2014, total U.S. credit card debt is expected to rise by 54.8 billion dollars. Almost 19% of student loan borrowers owe more than 50,000 dollars as opposed to 6% in 2001. Student loan debt, at 1.2 trillion dollars, is larger than credit card and auto loan debt. The average vehicle loan soared to a record high of over 27,000 dollars.
The good news is that the national debt is only 17 trillion dollars and is growing by leaps and bounds. The bad news is that unfunded liabilities, like Social Security, now stands at about 240 trillion dollars. In addition, banks are in debt to the tune of 1 quadrillion dollars in the ponzi scheme of credit swap derivatives. If…
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