Posts Tagged ‘high’

“The U.S. 10-year bond yield rose to a seven-year high of 3.24% – nearly 2% above its bottom in July 2016.

This 2% increase, imposed on $68 trillion of debt, is equal to an extra $1.3 trillion in interest charges….

To look at it another way, the typical working person who works an average of 33 hours per week earns $26 an hour. His percentage of the total debt is about $500,000.

At today’s interest rate, he will have to work 558 hours – or three and a half weeks (not including taxes) – just to keep up with the interest payments. Clearly, this is impossible…” -Bill Bonner

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Debt Death

Posted: February 16, 2018 in Debt
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“Americans also have more than $1 trillion in credit card debt, and more than $1 trillion in auto loan debt—all record highs.  It’s gotten so bad, 73% of Americans die with debt.” -Porter Stansberry

 

“The High Cost of Good Intentions, a history of U.S. entitlement policy…. the evolution of government pensions….  the hard-to-believe but true fact that there is still one person receiving monthly checks from the Civil War veterans pension program.” -John Cogan

“We make hundreds of thousands of decisions in a life time. There are low significance decisions made daily without putting our life style in jeopardy. But, there are many important decisions that we are typically not equipped to make….  Decisions of high significance need to be right.  All too often addiction, emotion, and intuition, among others, take over and cloud decision judgment when other more rational judgment bases are appropriate.” -Hal Mooz

“Speaking of debt, the International Monetary Fund (“IMF”) reported yesterday that total nonfinancial-sector debt has ballooned to $152 trillion worldwide.  This is the most in history.  The IMF says global debt-to-GDP has also soared to an all-time high of 225%, up from 200% just 14 years ago.” -Justin Brill

Wrong Things

Posted: September 24, 2015 in Debt
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“When debt is so high things tend to go wrong.” -Bill Bonner

“Hold yourself responsible for a higher standard than anybody expects of you.  Never excuse yourself.” -Henry Ward Beecher