Dear America: Better Read the Fine Print on Your Credit Card Statement

oftwominds - Charles Hugh Smith:

What will replace the current system after it self-destructs? That's the question.

You know those disclosures on your credit card statements? That it will take 27 years to pay off your balance if you only make the minimum payment each month, and so on?

You might not be aware of it, but America's "credit card"--our national debt--comes with its own disclosure statement:

Here's a chart of America's credit card: clearly, any credit line expanding this fast will bankrupt the borrower, regardless of their income.

Cont....