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I'm shocked! Shocked I say! I've seen this coming for a decade. Dealers are practically giving the cars away with near 0% financing. Everything in the financial
by X86BSD 10y ago
I'm shocked! Shocked I say! I've seen this coming for a decade. Dealers are practically giving the cars away with near 0% financing. Everything in the financial world has been a race to the bottom for a long time. You can say it started with the severing of the link to gold backed currency. The dollar has lost 97% of value since then, the fed pumps up one bubble after another, telecom, housing, auto, student loan, etc. The bubbles barely pop before they are inflated into a much bigger one in another sector. And they keep moving around the globe. The currency is the problem and the central banking. All currencies are circling the drain requiring more and more intervention and bubble inflating to stay alive. I'm quite certain I'll see all paper crash in my lifetime.
- hellogoodbyeeee 10y agoA broken clock is correct twice a day. I can't debunk your economic conspiracy theories in one comment, but I will make two points. 1) This article is talking about subprime loans. No one gives sub prime borrowers a zero percent interest rate because they are the riskiest borrowers. So by you using that as proof of a subprime auto loan crisis shows that you don't understand what is actually happening here. 2) You can't claim to be seeing a bubble occuring for ten years. I mean, I guess you can and you will be guaranteed to be correct on a long enough time line, but the point is it doesn't mean anything. There is an established business cycle. No one cares about an economic prediction without a timeline.