– We Just Enjoyed the Last Christmas in America (of two minds, Dec 26, 2014):
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Why will Christmas 2014 be the last Christmas in America? It’s simple: declining wages cannot support an ever-expanding mountain of debt. The Federal Reserve has played a game for six long years of lowering the cost of debt (i.e. the rate of interest borrowers must pay), which has enabled stagnating wages to support ever heavier debt loads. There is an endgame in sight to this financial trickery…
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