Sunday, September 5, 2010

Student Loans Surpass Credit Card Debt

It's back-to-school week, so the media is abuzz with stories about the burgeoning and unpayable student loan debt. As I mentioned yesterday, this debt is crushing a generation of students and having a negative effect on their relationship decisions.

Today, I discovered an excellent report by the RT network. Given that it comes to us from television news it has better audio-visual effects than my usual posts: Link here.

The report gives names and faces to the despair that surrounds this problem.  It also adds the salient fact that for the first time now student loan debt has surpassed credit card debt.

It does not, however, offer very much hope. For those who are looking for a way out of this quagmire, I would still suggest that the only real options are default or inflation.

In a deflationary environment, debt is the ultimate four-letter word.

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