Debt

Graduates of Morehouse College’s 2019 class may have just heard the best thing anyone could hear upon graduation: your student loan debt is repaid. Billionaire Robert F. Smith accepted an honorary doctorate at the HBCU on Sunday in Atlanta, and the commencement speaker surprised the nearly 400 seniors with the news. Smith is the chairman and CEO of Vista Equity Partners, a technology and software investment firm with more than $46 billion in cumulative capital commitments.

Pam and her husband have a combined $630,000 in student loan debt. She asks Dave where she should start on paying that off.

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Welcome to The Dave Ramsey Show like you’ve never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from people like Rachel Cruze, Chris Hogan, and Christy Wright —as well as all kinds of other video pieces that we’ll unveil every day.

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Millions of college students are graduating with debt and now borrowers owe a total of $1.5 trillion nationwide. Mark Strassmann reports.

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Kristen is trying to figure out how to afford both her student loan payments along with bills for her mental health. She calls Dave for advice.

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Welcome to The Dave Ramsey Show like you’ve never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from people like Rachel Cruze, Chris Hogan, and Christy Wright —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

Since the last economic collapse and market crash, we have witnessed the greatest corporate debt binge in U.S. history.  Corporate debt has more than doubled since then, and it is now sitting at a grand total of more than 9 trillion dollars.  Of course there have been other colossal corporate debt binges throughout our history, and they all ended badly.  In fact, the ratio of corporate debt to U.S. GDP rose above 40 percent prior to each of the last three recessions, but this time around we have found a way to top that.  According to Forbes, the ratio of nonfinancial corporate debt to U.S. GDP is now nearly 50 percent…

You can see the chart they are talking about right here and it clearly shows that each of the last three stock market crash and economic crisis coincided with the bursting of an enormous corporate debt bubble. This time around the corporate debt bubble is larger than it has ever been before, and risky corporate debt has been growing faster than any other category…
Needless to say, the stage is set for a corporate debt collapse of epic proportions.
What makes this debt bubble even worse is the way that our big corporations have been spending the money that they are borrowing. Instead of spending the money to build factories, hire workers and expand their businesses, our big corporations have been spending more money on stock buybacks than anything else.
And now this giant corporate debt bubble has reached a bursting point, and there is no way that we can avoid a huge stock market crash and economic crisis.

Meanwhile, another financial bubble of epic proportions is also getting a lot of attention these days. Nonbank lending, an industry that played a central role in the financial crisis, has been expanding rapidly and is still posing risks should credit conditions deteriorate. This kind of lending has absolutely exploded all over the globe since the last recession, and it has now become a 52 trillion dollar bubble…

Who is going to pick up the pieces when a big chunk of those debts start going bad during the next economic collapse and market crash? Never before in human history have we seen so much debt.  Government debt is at all-time record levels all over the world, corporate debt is wildly out of control and consumer debt continues to surge.

This is one of the reasons why I get so frustrated with the financially-illiterate politicians who insist that everything will be just fine if we just tweak our current system a little bit.
No, everything is not going to be just fine.  In fact, we have perfectly set the stage for the worst financial collapse in human history. At this point nobody has put forth a plan to fundamentally change the system, and there is no way out. All that is left to do is to keep this current bubble going for as long as humanly possible, and then to duck and cover when economic collapse finally strikes.

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This video created by a professional movie maker with high quality editing and narrated by a world class voiceover artist.

COURTESY:
Script written by Michael Snyder, author of the www.theeconomiccollapseblog.com
Music: CO.AG Music https://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvA

Most of artwork that are included with these videos have been created by Epic Economist and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that are taking place.

Anything that is said on the video is either opinion, criticism, information or commentary,  If making any type of investment or legal decision it would be wise to contact or consult a professional before making that decision.

Use the information found in these videos as a starting point for conducting your own research and conduct your own due diligence before making any significant investing decisions.

The United States is on a path to economic collapse, and everyone can see what is happening, but nobody can seem to come up with a way to stop it.  According to the U.S. Treasury, the federal government is currently 22 trillion dollars in debt, and that represents the single largest debt in the history of the planet.  Over the past decade, we have been adding to that debt at a rate of about 1.1 trillion dollars a year, and we will add more than a trillion dollars to that total once again this year.  But when you add in our unfunded liabilities, our long-term financial outlook as a nation looks heading to a major stock market crash and economic collapse. 

According to Boston University economics professor Laurence Kotlikoff, the U.S. is currently facing 200 trillion dollar in unfunded liabilities, and when you add that number to our 22 trillion dollar government debt, you get a grand total of 222 trillion dollars. Of course we are never going to pay back all of this debt. The truth is that we are just going to keep accumulating more debt until a devastating economic collapse. And even though the federal government is the biggest offender, there are also others to blame for the mess that we find ourselves in.  State and local governments are more than 3 trillion dollar in debt, corporate debt has more than doubled since the last financial crisis, and U.S. consumers are more than 13 trillion dollars in debt. When you add it all together, the total amount of debt in our society is well above 300 percent of GDP, and it keeps rising with each passing year.

According to official government projections, the Social Security Administration is facing a 13 trillion dollar unfunded liability over the next 75 years, and Medicare is facing a 37 trillion dollar unfunded liability over the same time frame.
Adding those two numbers together, we get a grand total of 50 trillion dollars. While the United States’ official debt is $20 trillion, the fiscal gap is really 10 times larger — $200 trillion. That comes from adding in off-the-book liabilities, including debt that’s in the Federal Reserve’s hands, Kotlikoff said. If Kotlikoff is correct, that means that the true size of the financial obligation that we are imposing upon future generations is 222 trillion dollars, and that number just keeps rising month after month.

You can spend more money than you are bringing in for quite a while, but eventually a day of reckoning arrives with a major stock market crash and financial collapse. We have been on the biggest debt crisis in the history of the world, and it has allowed us to enjoy a standard of living that is far beyond what we actually deserve, but the price that we will pay for such utter foolishness will be extremely painful indeed.

Prepare for the economic collapse while you still can.

COURTESY:
Script written by Michael Snyder, author of the www.theeconomiccollapseblog.com
THIRD PARTY CONTENTS (IMAGE, FOOTAGE, SCRIPT,) IN THIS VIDEO USED BY LICENCE AND PERMISSION.

Music: CO.AG Music https://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvA

Most of artwork that are included with these videos have been created by Epic Economist and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that are taking place.

Anything that is said on the video is either opinion, criticism, information or commentary,  If making any type of investment or legal decision it would be wise to contact or consult a professional before making that decision.

Use the information found in these videos as a starting point for conducting your own research and conduct your own due diligence before making any significant investing decisions.

Shocking video of the imminent economic collapse and next Great Depression.

Temporary prosperity that is created by exploding levels of debt is not actually prosperity at all.  At this moment, the U.S. government is 22 trillion dollar in debt, and we have been adding an average of more than a trillion dollars a year to that debt since 2009.  And if we stay on the path that we are currently on, the trajectory of our debt will soon accelerate dramatically causing the biggest economic collapse in our lifetime. 

In fact, as you will see below, the Congressional Budget Office is now projecting that the U.S. national debt will reach 99 trillion dollars by 2048 if nothing changes.  Congressional Budget Office projections always tend to be overly optimistic, and so the reality will probably be much worse than that.  Of course we will never actually see the day when our national debt reaches 99 trillion dollars. A major economic collapse and the biggest stock market crash will happen long before we ever get to that point.  In our endless greed, we are literally destroying America, and emergency action must be taken immediately if we are to survive.

Let me try to put this into perspective.  Not too long ago, Venezuela was once one of the wealthiest countries in South America.  These days, many Americans like to laugh at them, but we are on the exact same path that Venezuela has gone down with their horrific economic collapse.  Eventually, the day comes when there is not enough of someone else’s money to spend, and suffocating levels of debt make the option of printing giant mountains of money too tempting to resist.  At that point it is just a matter of time before a huge stock market crash and society devolves into chaos.

The same principle is going to also apply on a global scale.  The U.S. government is now more than 22 trillion dollars in debt, and the entire globe is now more than 250 trillion dollars in debt, and global economic collapse is coming.
Twenty years ago there was $40 trillion of debt in the world today there is $250 trillion worth of debt in the world.

It would take an unprecedented effort to turn things around, but right now hardly anyone seems concerned about bringing all of this debt under control. So we continue to roll on toward our date with economic collapse, and most people are completely oblivious to what is about to happen to us. A horrific stock market crash and economic collapse is coming.

COURTESY:
Script: Michael Snyder http://www.theeconomiccollapseblog.com

Music: CO.AG Music https://www.youtube.com/channel/UCcavSftXHgxLBWwLDm_bNvA

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Most of artwork that are included with these videos have been created by Epic Economist and they are used as a representation of the subject matter. The representative artwork included with these videos shall not be construed as the actual events that are taking place.

Anything that is said on the video is either opinion, criticism, information or commentary,  If making any type of investment or legal decision it would be wise to contact or consult a professional before making that decision.

Use the information found in these videos as a starting point for conducting your own research and conduct your own due diligence before making any significant investing decisions.

Raymond is behind on his child support, has student loans, and some other debts totaling to over $100,000. He calls Dave for advice on how to get out of this mess.

Visit the Dave Ramsey store today for resources to help you take control of your money! https://goo.gl/gEv6Tj

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Welcome to The Dave Ramsey Show like you’ve never seen it before. The show live streams on YouTube M-F 2-5pm ET! Watch Dave live in studio every day and see behind-the-scenes action from Dave’s producers. Watch video profiles of debt-free callers and see them call in live from Ramsey Solutions. During breaks, you’ll see exclusive content from people like Rachel Cruze, Chris Hogan, and Christy Wright —as well as all kinds of other video pieces that we’ll unveil every day.

The Dave Ramsey Show channel will change the way you experience one of the most popular radio shows in the country!

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#debt #millennial #studentdebt

As the federal debt reaches record levels, more and more economists are asking if it’s really a problem. Republican strategist Leslie Sanchez and Democratic strategist Lynda Tran join CBSN with more.