Forgotten what 2008 was like? What's coming will be far worse.
Price for Thanksgiving dinner pre-Fed: $0.50
Price for Thanksgiving dinner 102 years after establishement of the Fed: $50
"We have determined that applying a negative rate was a more transparent and fairer solution for our clientele. This decision on negative rates is costing us a lot of money -- pretty much the equivalent of our entire annual profit last year."
In what amounts to evidence that the subprime auto problem is indeed growing, The New York Fed's Quarterly Report on Household Debt and Credit (out today) shows that lenders extended more than $110 billion in auto loans to borrowers with credit scores below 660 over the past six months alone.
"The equilibrium, for now, is QE infinity – but political risk could be the breaking point"...
Stripped of accounting gimmicks, real GDP growth shows economic collapse. And it will culminate in another stock market crash.
"My guess is that we will have negative rates in Norway before there will be any talk of QE"...
New car loans used to be 36 months (three years) and then 48 months (four years). Back when the economy was sane. Today, the typical new car loan is 72 months (six years). This is almost double the formerly typical length of a new car loan. But even that is not – apparently – enough to keep the music playing. Enter the eight-year loan... Are people really that stupid?
“The bubble may already have burst” for the most expensive homes, Barber said. Now, "36 percent of all properties currently on the market across prime central London are being marketed at a lower price than they were originally listed at, with the average reduction in price being 8.5 percent."
We wonder: just how much "more exponential" will China's "strike chart" have to get before everyone else finally notices?
The housing recovery without mortgage originations is coming to its inevitable conclusion.
"The Populist Upsurge is Real" When A Liberal College Professor Finds Common Ground With The Tea PartySubmitted by Tyler Durden on 11/11/2015 18:00 -0500
People are going to be pissed off no matter who wins this election and that is a very important social dynamic that is vastly under appreciated by the majority of mainstream pundits and analysts out there. The truth is, the American public is tricked into thinking they disagree with each other on the big issues, when in reality there’s enormous overlap. Until we stop being tricked, the status quo will continue to suck the economy dry through their religious-like embrace of corruption and crony capitalism. Unfortunately, the people who could benefit the most from reading this post, will never see it.
"It is a bloodbath. We’re at the highest point of fear and uncertainty now.... God only knows what’ll happen if oil doesn’t rebound. I try not to let that penetrate my mind."
There were a few different stories coming out over the last few days that reveal the true nature of government and the apparatchiks who use disinformation, devious machinations, fraudulent accounting, and taxpayer money to cover up their criminality, lies, and the true state of the American economy. The use of government accounting tricks to obscure the truth about our dire financial straits is designed to keep the masses sedated and confused.