Americans Are Absolutely Drowning In Debt, And This Really Is The Worst Debt Crisis In All Of U.S. History

I truly wish that headline was an exaggeration.  Unfortunately, for decades Americans have been extremely irresponsible with their finances. 

As a result, credit card debt is at an all-time high, auto loan debt is at an all-time high, mortgage debt is at an all-time high, corporate debt is at an all-time high, state and local governments all over the nation continue to get into absurd amounts of debt, and the federal government has piled up the single largest mountain of debt in the history of the world. 

Our whole society is absolutely drowning in debt at this stage, and the only way out is for the entire system to collapse. (Read More…)

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