Usurious Debt-Slave Ponzi Units Have a Rancid Odor Now

A 756-square-foot shack in Bernal Heights, San Francisco is on the market for $900,000.

Public economic confidence by some measures and in some quarters is quite high. My hypothesis is that the haves are still feeling self-satisfied about their hyper-inflated $900,000 shacks and fantasy social media surveillance/police state FANG stocks. However, elsewhere in the land of usury, credit conditions in the underlying Ponzi units is getting to look more and more like rotten fish in the curbside garbage can.

Half of Americans Living in the Grip of Usurious Debt Slavery

In a new study, life insurer and financial services provider Northwestern Mutual found that 45% of Americans that have debt spend “up to half of their monthly income on debt repayment.

The Federal Reserve found that 46% of adults could not cover an emergency expense of $400, such as a broken windshield.

American consumers are holding $1 trillion in revolving credit, mostly in credit card debt.

Student loan balances have skyrocketed by 160% over the past 10 years to $1.4 trillion. Of that, an analysis by the Wall Street Journal found that at more than 1,000 schools, at least 50% of the students defaulted or failed to pay down debt within seven years. What a monumental scam.

Auto loan balances have shot up 42% over the past 10 years to $1.1 trillion.

Of this debt, those with the least amount of savings and the smallest net worth, or those with negative net worth, owe a big chunk.

The State of the Usury Ponzi Units

In the first quarter, the delinquency rate on credit-card loan balances at commercial banks other than the largest 100 — namely 4,788 smaller banks in the U.S. — spiked to 5.9%. This exceeds the peak during the Financial Crisis. The credit-card charge-off rate at these banks spiked to 7.99%. This is approaching the peak during the Financial Crisis. The big banks have focused on the Haves, whose combined delinquency rate in Q1 was a more normal 2.48% (so far). But this will be a function of the prices of the aforementioned shacks and FANGS.

The following chart is before any bear market, real market correction or real economy recession, let alone Depression.

Auto lenders package their loans into asset-backed securities (ABS) and sell them as bonds to institutional usurers. The Fitch Auto ABS Indices show that delinquencies of 60 days were relatively low for prime auto loans at the end of Q4, but for subprime loans they’ve surged to 5% of outstanding balances, the highest since at least 2008.

As interest rates have come off of scrapping bottom, the mortgage refi borrowing that others subsist on has ground to a halt. The house as a usurious piggybank for living large is drying up.

source; Zero Hedge

PIMCO executive Richard Clarida is the pick for the Fed vice chairman slot. When he was asked about “non-Treasury instruments, like mortgage-backed securities (MBS)” for QE, Clarida replied: “My preference would be for the Fed to end up with a Treasury-only portfolio.”

Currently, the Fed holds $1.74 trillion in MBS, or 26% of all residential mortgage-backed securities outstanding. Both Fed chief Powell and Clarida wish to remove the Fed as the elephant in the MBS scheme.

Starting in July, the Fed moves from $30 billion a month to $40 billion in its portfolio reduction wind down.

Self-Destructive Consumerism and Materialism as Mental Illness

Hyper-consumerism is a form of collective, psychotic mental illness. It leads to narcissistic behaviors and poor self-control. The idea of spending money you don’t have on some hyped up good or gadget apparently is an endorphin that relieves depression — at least momentarily.

Human beings are an incredibly social species, one of the few that spend their entire lives in groups. The trick is to convey a sense of belonging to other zombies who have the same need to be constantly consuming and in turn, burying themselves financially. I picture it as a circle jerk.

This type of mental illness is a social and cultural problem that stems from 24/7 media brainwashing of a Luciferian nature. Although twisted and warped pharma tries to exploit this mental condition with drugs, no drug can counter this. Such behavior is also obedience to authority and the usurers.

I would suggest that the depression itself may be your psyche’s natural way of rejecting or countering mind control and maintaining a sense of reality and truth. Does the depression come from the narcissism and lack of moral clarity (aka Luciferian moral relativism)? The best deprogramming is to turn off most mind-numbing entertainment and media, or at least wean off that narcotic as much as possible. That is also an act of true defiance against the exploiters and manipulators. Otherwise you are merely talkin’ the talk.

And being labelled “maladjusted” to this reigning dominant form of low culture may very well be a sign of a healthy human being.

Finally, the emergence and sick promotion of the genderless society and sexual confusion is bound to make many people mental ill and depressed. This is in direct confrontation with hundreds of generations of inherited nature and DNA.

Read: Torchy’s ‘merika: Gender Neutral ‘Fashion’ for Cucks, Kooks, Discordians and Commies

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