Tuesday, 3 May 2016

Keeping the ponzi scheme going

Ultimately, with runaway climate change none of us need worry about this. In the meantime there is lots of suffering being handed out by the psychopaths that run us.

Visa Unveils Plan To Burden Millennials With Billions In Debt

2 May, 2016

For anyone concerned that $800 billion in student loans over the last decade simply won't be enough debt burden for millennials to carry, worry no more, a solution has been found.

$800 billion in new student loans in the past decade but aside from that "consumers are deleveraging"
Visa has come up with a plan to add infinitely more debt to millennials who are working diligently as bartenders and waiters: credit cards. Visa has even unveiled a detailed timeline by which they can accomplish the task.

The thought process is as follows:

First, Visa estimates that all of those minimum wage jobs will be adding up to $8.3 trillion in personal income for millennials by 2025.

Next, Visa believes that millennials use cards for 57% of their spending, making them an attractive "target" for massive amounts of additional debt credit card marketing.

And finally, as a percentage of total available users, millennials use revolving credit more than any other generation.

How long will it take to market the idea, sell the credit, and wait for the debt to pile up? Why, not soon after college of course. Visa estimates that if done properly, banks and other credit card issuers can have millennials saddled with billions in new debt by the young age of 28. The company even puts together a nice infographic to add to their excitement.

In summary, everyone can rest assured that while young millennials may not have their future mapped out quite yet, Visa and other institutions have that all taken care of for them - just make sure to pay that monthly interest.

Turn benefits into repayable loan, says Tory group

11 June 2015 
Kwasi Kwarteng

Kwasi Kwarteng says free enterprise is the answer to Britain's problems

Young unemployed people should be forced to repay their benefit money when they get a job, an influential group of Conservative MPs has said.
The proposal to pay benefits as a loan would give them "an additional incentive to find work rather than allow the debt to build up".
The idea is included in a new book setting out a "radical" free market agenda for the Conservative government.
Author Kwasi Kwarteng is seen as a rising star on the right of the party.
The Conservative MP and junior ministerial aide argues that free enterprise - rather than government interference - is the answer to the problems facing Britain.
Chancellor George Osborne is understood to be considering reducing tax credits for millions of working families in his July Budget, as part of the government's efforts to "make work pay", although critics accuse him of making the poor pay for the mistakes of bankers.
Rest of article is HERE

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