Payday Loans’ Debt Spiral to Be Curtailed

“Under the guidelines from the Consumer Financial Protection Bureau — the watchdog agency set up in the wake of 2010 banking legislation — lenders will be required in many cases to verify their customers’ income and to confirm that they can afford to repay the money they borrow.”

Tis a pity the Consumer Financial Protection Bureau weren’t around to rein in O’Bumma’s outta control borrowing and spending. Far’s I know, Obongo managed to double the US Federal debt he inherited from Georgette Bush, who in turn had doubled it from the total inherited from every other mother-lovin’ president who came before him. I believe Federalistical debt is now running at about the 20 trillion mark. National debt? Anywhere ‘atween 100 and 200 trill.

So the poor little guy on a subsistance wagette from WallEyeMart or somesuch is just doin’ what his betters do … i.e. mortgaging his future to pay for his present. But of course he is paying a shitload more in interest than his betters. Y’see, money at the top of the pyramid costs a lot less than it does at the bottom of the pyramid.

In the end, of course, it is the Jew who’s a-laughin’ uproariously because it is himself who creates the credit flows outta thin air. He cares not who borrows said factitious ‘money’. Just as long as they remain in unserviceable debt.

Which makes ya wonder whose interests the ‘Consumer Financial Protection Bureau’ actually represent … the little guy? or the banksters who want to knock out the small-time loan sharks? If the ‘war on drugs’ is anything to go by, you’d have to pick the latter.

Money fer nuthing … and the chickadees fer free!!!