Thursday, February 25, 2016

More Rosey Economic News, Or The Subprime Deja Vu

People have short memories and they sure don't learn from history, even very recent history.

Just through a subprime mortgage loan crisis that almost toppled the entire banking system and we now seem to be heading to a vehicle loan subprime crisis with the same cause - giving loans to people that can't afford them to keep the product moving.

The Detroit Free Press: Delinquencies on subprime auto loans hit 6-year high

It's all fun and games until the music stops and then there's a bail out for those left holding the bag.

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