Posts Tagged ‘collapse

22
Apr
08

Things are getting worse.

So, today I read a couple of interesting articles. The first one was stating that some student loan cheques in the US are bouncing. Student loans, issued by banks, are bouncing. Okay, so it is some smaller student loan specific lenders at this point, but apparently many banks are raising rates on student loans, increasing acceptance criteria, basically making a student loan the same thing as a regular loan. So, that makes the US that much less competitive in a few years.

The next one was about food shortages, not in the third world, but in the US, happening today. Rice being rationed at branches of Costco, wheat at others. There was a run on Costco by restaurants and similar businesses because it is getting too expensive to get the supplies from wholesalers.

Lets face it, we are pretty screwed if the rich countries are starting to run out of food.