from Financial Survival Network
John Rubino is back… CLO (collateralized loan obligation) markets starting to tank. Market for risky corporate debt is softening and turning to real junk. Even the WSJ ran a story about people going even further into debt. There’s ever more underwater car loans because of negative equity in the consumer’s current auto. By rolling over the balance into a new loan, they’re effectively paying interest on interest. How can all of this end well for the country or the consumer?
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