Financial Collapse Imminent: States Continue To Borrow To Pay Existing Debt.
If a household starts to get new credit cards to pay off the old credit cards, financial implosion is a near certainty in the future, Now, the biggest house of cards, the US statest economic health, is headed exactly there.
“May 16 (Reuters) – Refinancing will come roaring back into the U.S. municipal market next week, when $5.7 billion in total new issuance is expected.
“Two-thirds of the $4.36 billion in negotiated sales are refinancing deals.”
This means they are borrowing money to pay existing debt. Plain and simple. Only 1/3 of the bonds being offered are going to actual projects, which is what bonds are meant to do, you know, build roads, hospitals, bridges, etc. Problem is, they are borrowing now on the money already borrowed to build the roads.
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