The Phaserl


The Greatest Fraud Ever – Indentured for Life

by Bill Bonner,

On Tuesday, the Dow lost 119 points. Gold continued its progress back to where it was when the last dip began. And we continued looking for the weak link. A chain of deception, humbug and larceny has corrupted the entire US economy. From top to bottom, every financial decision has been twisted in one direction or another.

From student loans and payday loans, to the corporate borrowing binge and the stock buybacks it fuels – from link to link, money from nowhere leads to somewhere people want to go. Especially, to higher asset prices.

At the lower end, it doesn’t look so good. Students who graduate this year, and who took out government-backed loans, are saddled with an average of $33,000 in debt. They’ll spend decades paying it off… at best.

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