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James Quinn
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James Quinn is a senior director of strategic planning for a major university. James has held financial positions with a retailer, homebuilder and university in his 25-year career. Those positions included treasurer, controller, and head of strategic planning. He is married with three boys and... More
My blog:
TheBurningPlatform.com
  • THE SUBPRIME FINAL SOLUTION 1 comment
    Nov 10, 2013 4:58 PM

    The MSM did their usual spin job on the consumer credit data released earlier this week. They reported a 5.4% increase in consumer debt outstanding to an ALL-TIME high of $3.051 trillion. In the Orwellian doublethink world we currently inhabit, the consumer taking on more debt is seen as a constructive sign. Consumer debt has grown by 5.8% over the first nine months of 2013, after growing by 6.1% in 2012 and 4.1% in 2011. The storyline being sold by the corporate MSM propaganda machine, serving the establishment, is that consumers' taking on debt is a sure sign of economic recovery. They must be confident about the future and rolling in dough from their new part-time jobs as Pizza Hut delivery men. Plus, they are now eligible for free healthcare, compliments of Obama, once they can log-on.

    Of course, buried at the bottom of the Federal Reserve press release and never mentioned on CNBC or the other dying legacy media outlets is the facts and details behind the all-time high in consumer credit. They count on the high probability the average math challenged American has no clue regarding the distinction between revolving and non-revolving credit or who controls the distribution of such credit. It is fascinating examining the historical data on the Federal Reserve website and realizing how far we've fallen as a society in the last 45 years.

    CLICK HERE TO READ MORE:

    http://www.theburningplatform.com/2013/11/10/the-subprime-final-solution/

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  • KJP712
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    Comments (419) | Send Message
     
    Counting how many BMW's are on the road you may be on to something.Soon the original drivers may no longer feel so special tooling down the road.When you see the luxury cars delivering pizza then you will know the wheels are really coming off.As always your articles are thought provoking.
    10 Nov 2013, 07:45 PM Reply Like
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