As Washington D.C. liberals continue their fight for 'free' college education for all (which, of course, is just a nicer way of saying largely useless community college education crammed down the throats of taxpayers) and student loan forgiveness programs, a new study from LendEDU reveals some of the shocking realities behind where college students are really spending their $1.3 trillion worth of student debt.
Overnight saw Chinese money markets start to get angry and the Yuan tumble, Draghi didn't help, and Spicer's Glass-Steagal comments did not create hope - with credit, copper, crude, emerging markets, risk-parity funds, and now china all crumbling, is tomorrow's payroll print the catalyst for stocks to wake up?
Via RealInvestmentAdvice.com,
Bill Gross' letter discussing the credit deluge hitting the US came out at a convenient time: just as the Federal Reserve released its latest Flow of Funds report, which while most track to show the change in average household net worth - which is almost entirely a function of the stock market - we find it far more valuable for its nuanced information on the breakdown of US debt.
Courtesy of Bill Gross' latest monthly letter "Show Me The Money", here are some perspectives on the only thing that has kept the global economy going since the financial crisis: debt, and lost of it.