Lying with statistics is a favorite government pastime and the recent consumer credit report is one of the biggest lies yet.
According to the Fed, the amount of consumer credit outstanding, excluding mortgages, is just over $2.5 trillion. That means, on a seasonally adjusted basis, consumer credit rose by $17.8 billion. On a non-seasonally adjusted basis, the numbers clock an increase of $14.6 billion in net new credit for a total of just over $2.5 trillion.
That’s great, right? After all, if people are using more credit they’re helping to drive the economy higher. More importantly, they must be more confident about the future.
How much credit consumers are taking on isn’t the important indicator of economic performance. It’s the type of credit they’re acquiring that tells the true story. And when we analyze the recent credit report, it quickly becomes obvious that things today are tough…
What Happens Next Will Be Ugly
What happens as these students get out of college and can’t find jobs that pay enough to repay their student loans?
What happens when these kids can’t afford to start a family or build their lives because they’re saddled with the equivalent of a large car payment – with no car to show for it – or a small house payment – with no house to pay off – the day they step into the workforce?
We’ll tell you. The student lending house of cards will collapse. As the pressure of higher tuition from colleges meets the ugly reality of a lack of employment prospects for millions of graduates, the system will fall apart. More and more students will shun college as they recognize the bargain with the devil is not worth making.
This presents you with an opportunity to profit ahead. In the January issue of Boom & Bust we gave subscribers the details of one particular private student loan company that will suffer as this student loan Titanic sinks. You can get the details here.
Just because the government twists statistics to make us believe everything’s fine when it’s not doesn’t mean we can’t profit from it.
P.S. Unlike the government, we at Boom & Bust have no interest in manipulating statistics to fool you into a false sense of security. In fact, part of our mission is to uncover the true nature of what’s going on. Only with the facts can you find ways to profit. That’s why Harry has recorded the following video for you. Click here.
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The one investment you may hold dear to your heart… the one investment that helps you sleep better at night, that you rely on for safety, security, and maybe even profits in a world gone mad… is about to get slaughtered.
When it happens, trillions in wealth will be wiped out virtually overnight!
To find out exactly what this investment is, click here.