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If we ran quick . of each household debt like a mortgage, say 30 years fully amortized at 5% we would get a monthly payment of $3661.12 which is $43,933.44 each and every year. After this the individuals need money for food, clothing, medical, transportation electric, heat, phones, education, etc. The purpose is genuine effort . no method that the individuals the USA are ever going to repay this volume of indebtedness back without hyperinflation. Also bear in mind utilizing a 5% interest figure can be extremely low, a very real aggressive calculation would use increased interest rate. So the stage is looking for some type of economic catastrophe.
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