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The US Recovery Is Strong... In "Loan Shark" Terms
It looks like this 'recovery' is going to need a triple-seasonal-adjustment to bring reality back to perception...
h/t @RudyHavenstein
As we concluded previously, we may as well go ahead and place that as the tombstone for the socio-economic entity previously known as the middle class.
It’s not the case that every one of these middle- and upper-class households turned to pawnshops and payday lenders because they got whomped by an unexpected bill from a mechanic or a dentist. “People who are in these [non-bank] situations are not using these forms of credit to simply overcome an emergency, but are using them for basic living experiences,” Mills says.
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hahahahahahaha you made another funny, but you forgot about reverse car loans
Just pay the vig on time!
ted417774448569...
What do you think Title Loans are?
no, you don't get it! you get your title back if you pay the loan off. they have reverse car loans now that are just like reverse house mortgages, you don't get to keep your car
Collateral stripping ! .... coming to an entire universe near you.
Ted, I get it. Thanks for clarifying.
Wonder what they would think if an Airbus A-380 came in for a flyover while they hand picking their wheat fields in Ye Olde Year of 1384.
They would worship it, of course.
"Any sufficiently-advanced technology is indistinguishable from magic."
There's your hidden inflation.
Well you know usury in the US is legal if your a bank or an Indian tribe. I saw a commercial the other day for a instant loan of $800. The APR was 390%!!! Let me say that again an APR OF 390%. They also said they were charging less on certain loans than their competition. You can also go to Rent-a-Center and get that LGSamgSony TV for the low price of $1699.00 dont worry its new, well it was new in 2014 and could probably be bought somewhere else for $599.00
What a grand world it must be for all those money launderers er ah lenders out there. Thinking that these people must have learned a lot from the mob. That's OK because they're doing gods work, and they're smarter than you.
Hey Greeks if that IMF, ECB thing doesn't work out I'm pretty sure I could hook you up with some Indian tribe that might be willing to help
Everything can be gamed, there is room for skim in everything that is this man made illusion.
Everything.
LOL
http://detroit.cbslocal.com/2015/06/04/weave-loan-store-to-offer-loans-t...
The real cost of money to the real economy and real people
Everyone who thinks they "scored" a great mortgage or car loan will soon find out that they bought a quickly depreciating asset.
There's no free lunch, plebs.
You laugh. If this place lasts more than five years I'm a monkey's uncle. I'm goin' out in a Mercedes S550, white leather, bucket butthuggers, the whole nine. 92 month pay-back with the baloon at the end bitchez! If nothing happens, I'll just floor it.
Steve-o,
Professional Gambler,
Reno, Nv.
They are getting title loans to buy stocks on margin. That's bullish!