Makes my point, doesn't he?.......

The consumer is broke. Too many bad loans he has to pay and pay and can't buy or borrow more. Either we have a debt jubilee or a big check to all consumers instead of bombing little brown people and supporting the leeches in Washington and on Wall Street the mess continues.

Guest Post: If You Want to Help the Poor and the Middle Class, Encourage Deflation | ZeroHedge

What the banks and their neofeudal enforcer the Federal Reserve want is for households to become poorer but more heavily indebted. They don’t want households to be able to afford more goods and services--they want households to have to borrow more money to buy more goods and services because issuing more loans is how banks make huge profits. Politicians love bank profits as much as the banks because they collect tens of millions of dollars in contributions (in more honest terms, bribes) from the banks. Politicians don’t care if 90% of American households get poorer every year thanks to inflation created by the Federal Reserve: the 1/10th of 1% live in a completely separate world than the 99.9%. The banks and their politician partners love inflation because it lines their pockets with tens of billions of dollars in profit. They have worked very hard to convince the 99.9% that inflation is good and deflation is bad, but it’s simply not true. Inflation is a slow, continual theft that robs the hard-working productive members of society and transfers the wealth to the banks and their crony lapdogs, the politicians and lobbyists. Banks and the Federal Reserve hate deflation because people can buy more goods and services without borrowing money to do so. If the Federal Reserve’s nightmare comes true and deflation occurs, something else happens that the banks fear and loathe: marginal borrowers default on all their debts. Rather than being easier to pay, the debts become more difficult to pay as money gains value. Marginal borrowers no longer get the “boost” of inflation, so they increasingly default on their loans. How is it bad for hopelessly over-indebted, overleveraged households to default on all their debt and get a fresh start? Exactly why is that bad? What is the over-indebted household losing other than a lifetime of debt-serfdom, stress and poverty?