Thursday, May 31, 2012

Good/Bad News, and Worse News - Depending on Whom You Trust

Trust? Now? Whom?

You're forgiven for being confused. Whom are we to trust? Jaime Dimon? :)

How about ourselves?

Anyway, here's the latest Fed news we're being fed, if you're not too fed up to read it.

"consumer deleveraging continued to advance as overall indebtedness declined to $11.44 trillion, about $100 billion (0.9 percent) less than in the fourth quarter of 2011. Since the peak in household debt in the third quarter of 2008, student loan debt has increased by $293 billion, while other forms of debt fell a combined $1.53 trillion."

That's right, Control Frauds have backed out of other arenas - a bit - but are probing Student Loans as the next mecca for Liar's Loans.  Rumor has it that student liar's loans (SLLs) are actually outracing used-car liar's loans (UCLLs).   Sounds like a great DLL!*  Especially so since the General Theory for turbocharging any & all DLL has been published, as anything but open source!  (That doc circulated among the major families back ~1991, as they were just moving out of S&Ls & into mortgages.  Rumor has it that the original author was the guy who "placed" Greenspan at the Fed, in 1987, although the plan tenets had obviously been practiced in Orange County, CA for decades previously.)

* DLL now means "distributed liar's loans"

ps:  Did you notice there was no mention at all by the Fed of distributed INCOME!!
Can someone check & see if that word is still in their lexicon?

1 comment:

Anonymous said...

Bankers employers of last resort: student loans.