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Trumptopia Vs. Deep-State Democracy

Submitted by Howard Kunstler via Kunstler.com,

For years, it was easy to see the political storm clouds gather over Europe with its fractious coalitions and its ancient babble of conflicts. Marine Le Pen’s Daddy, severe old Jean-Marie, was on the scene in France decades before Donald Trump ascended to glory on the noxious clouds of America’s crapified culture, attended by heavenly hosts of Kardashian angels and the cherub Honey BooBoo.

Trump On Debt Renegotiation: "You Never Have To Default Because You Print The Money"

Following Donald Trump's Thursday comments that rising interest rates would be disastrous for the economy, saying that "we're paying a very low interest rate. What happens if that interest rate goes up 2, 3, 4 points?" hinting that the U.S. should "renegotiate longer-term debt" with creditors and that if the economy crashes he "can make a deal", various media outlets went to town on Trump, most notably the NYT, which took Trump to task:

P2P Bubble Bursts? LendingClub Stock Plummets 25% After CEO Resigns On Internal Loan Review

P2P Bubble Bursts? LendingClub Stock Plummets 25% After CEO Resigns On Internal Loan Review

Back in February we showed that it is not only China which is troubled by non-performing loans: America's own nascent private Peer 2 Peer industry was having very similar issues, evident most notably in the books of category "leader" LendingClub, whose write-offs had soared to nearly double the company's own forecasts.

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