Consumer Credit Card Debt Being Under Reported by 20% to 30%? OUCH!

The number put on U.S. credit card "zombie debt" in 2013 is between 150 billion and 175 billion dollars. 

However, this number may not include credit card debt that has gone to the courts and a judgement has been procured by the credit card companies. I would suggest that we could safely guess another 100 billion dollars in court ordered credit card payments as well.

That means as much, or perhaps more than 250 billion dollars of credit card debt IS NOT being reported whenever consumer debt reports come out. 

OUCH!

Please consider viewing and then signing the Debt Neutrality Petition by clicking here.

Even the Peace Corps like increasing Consumer Debt, gasp.

I kind of find it amazing that the Peace Corps would be in favor of more consumer debt. Their rationale is that it means more jobs which in turn fuels consumers "confidence" in borrowing more. This what is called an unending ponzie scheme that fails to take into account increased pressure on the world's precious resources, a necessary schism for economic growth to occur.

This in turn just leads to more wars and more debt and more consumer interest charges on that debt, which eventually leads to loss of consumer wealth and the transfer of that wealth to the banks, the government, and wall street.

Look for Canada to fall hard in the next year or two from mounting consumer debt caused from a bubble of increasing home values.

Please consider viewing and then signing the Debt Neutrality Petition by clicking here.