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Leverage
Leverage
Both governments and households are using more leverage. The problem is, many people can never pay this debt back. 9.1% are already delinquent. The federal government is in far worse shape. The CBO expects a $70 Billion shortfall in the FDIC. Remember every time you take a loan or leave a balance on your credit card, you are borrowing your future happiness for instant gratification today. This not only needs paid back, you have to pay it back with interest. On top of that you have to pay back all of the money the government spends, which is now over $35.15 TRILLION, through direct…
The skinny
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