This is another SUBPRIME CRISIS. Whether or not this will be anything close to the housing crisis from 2007, doesn’t matter. There will be a TRIGGER EVENT that takes place and it will have a domino effect around the world. The list of possible disasters is getting longer and longer. Take your pick. Do you think people understand that their debt has been “securitized” and sold off to investors?
The subprime crisis was the beginning of the Financial Crisis. It showed the world how poorly designed the financial system is and how it rewards maximum risk. There is no consequence for the chosen few who are deemed Too Big To Fail. Unfortunately, we quickly realized that the problem of subprime was not contained to subprime. It was much, much worse. Today, we see another, different kind of subprime crisis evolving.
Smaller Subprime Auto Lenders Are Starting to Fold – Bloomberg
The 0% Auto Loan Era Is Fading Into America’s Rearview Mirror – Bloomberg
Motor Vehicle Loans Owned and Securitized, Outstanding | FRED | St. Louis Fed
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