USA Today notes that America’s student debt loan is set to top one trillion, even as the rest of the economy attempts in vain to deleverage. Even more interesting is the fact that the average loan is double what it was just a decade ago. What does this mean exactly? One decade ago today was October 19, 2001, shortly after …
The suburbs are themselves a Ponzi scheme
This is a very compelling case that suburban development itself is financed through a Ponzi scheme structure. The first phase of development was paid for by the U.S. government. The second was financed on leverage. The third is collapsing. The financial charts tell a story that is hard to avoid.