TN hick

Late Payments on Loans the Highest in 16 Years: The Pooring of America Continues

TraderMark - My take - it is not in "Wall Street's" interest to face reality, it is in their interest to postpone recognition of the magnitude of the loses due to their gluttony as long as possible; to spread the losses over a longer period of time, keeping the amounts "under the radar"; and to continue to cohere the Fed into inflating a part of the total to zero. The Fed is a willing participant because of the revolving door between Wall Street, the Federal Reserve System, and the Treasury. But do not consider this an economic problem; it is a political problem. As long as the masses elect to perpetuate the "system" nothing will change. T. Jefferson [the original one - declaration signer] is credited with saying that our form of government is lost when the majority of voters realize that they can rob the richest minority via legislative actions. I say that we are there, we now have the majority that pay no federal income tax, but expect/demand [and vote to continue] government delivered entitlements. [remember, the original Constitution only granted the federal government the authority to collect "tariffs" on commerce]