150423 – Backfire on Cashless Society

Today’s Items:

China’s Debt

China’s government, corporate, and household debt load, as of mid 2014, is about $28 trillion dollars while they are trying to prop up a $10.4 trillion economy that’s decelerating. In addition, for the first time ever, a state-owned company defaulted on its lenders and the government let it happen. This is an indication that soon China’s ability to both roll over existing credit and fund new projects will get tapped out.

Safe Deposit Box

Some JPMorgan Chase customers are receiving letters informing them that the bank will no longer allow cash or coins, other than those found to have a collectible value, to be stored in safety deposit boxes. The reasons for this new policy change should be clear and should come as no surprise… They do not want you to use anything but electronic cash to get to a cashless society. Speaking of a cashless society…

Backfire on Cashless Society

The main reason many governments like the concept of a cashless society is because they hope it would destroy the black market; however, this only works in a society that has a stable economy and no reason for a black market. Fortunately, the U.S. black market makes up at least 10% of the GDP; thus, as things fall apart, and people become more desperate, the black market will get bigger.

When College Doesn’t Pay

Getting a college degree used to mean a ticket for a good career. Now, a look at the labor force participation rate for college graduates shows a steady decline since the data was first tracked. As more college graduates become unemployed, the more the federal government picks up the tab and more graduates are found behind the fast food bar in a Mc-Job recovery.

99 Percent

According to the Congressional Research Service, as of June 1, 2012, 99.3% of those listed in the mentally defective category and are on the list of federal gun bans were reported by the Veterans Administration. This means that the Department of Injustice is targeting 13% of the population while Obama, and his thugs, frees drug dealers and champions criminals.

Computer Killed

A 38 year old Colorado man had months of trouble with his Dell computer and just began shooting it. Unfortunately, the bullet-ridden computer is now dead from the multiple shots; however, fortunately, the man was only cited for discharging his firearm within city limits.

Finally, please prepare now for the escalating economic and social unrest. Good Day!

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