Australian Politics Forum - The new subprime

bogarde73

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The new subprime
Dec 6^th, 2017 at 7:11pm

The auto industry in the US is shaping up to be the same fiasco the housing market was in 2007.
A very high percent of auto loans are delinquent within 90 days. Bad underwriting or in fact no checking at all means people who could never afford the cars are being sold.

Doesn't bother the banks though. They haven't forgotten how to bundle the bad loans up and sell them off as bonds.

May not trigger the meltdown but it is surely going to make it worse.

Bloomberg has a piece on it somewhere but investmentwatchblog.com is more amusing.

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Know the enemies of a civil society by their public behaviour, by their fraudulent claim to be liberal-progressive, by their propensity to lie and, above all, by their attachment to authoritarianism.

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greggerypeccary Gold Member Offline Australian Politics Posts: 131489 Gender:	Re: The new subprime Reply #1 - Dec 6^th, 2017 at 7:17pm I wouldn't worry too much, Bogie. Mr Trump is moving America's embassy from Tel Aviv to Jerusalem. This should solve any problems they have.
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bogarde73 Gold Member Offline Anti-Global & Contra Mundum Posts: 18443 Gender:	Re: The new subprime Reply #2 - Dec 7^th, 2017 at 6:15am I told you about that last week troll. Grow up.
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greggerypeccary Gold Member Offline Australian Politics Posts: 131489 Gender:	Re: The new subprime Reply #3 - Dec 7^th, 2017 at 7:57am bogarde73 wrote on Dec 7^th, 2017 at 6:15am: I told you about that last week troll. Grow up. Are you saying that moving their embassy from Tel Aviv to Jerusalem won't solve America's problems? Why would Mr Trump do it then?
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Justsayno

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Re: The new subprime
Reply #4 - Dec 7^th, 2017 at 4:42pm

greggerypeccary wrote on Dec 7^th, 2017 at 7:57am:

bogarde73 wrote on Dec 7^th, 2017 at 6:15am:

I told you about that last week troll.
Grow up.

Are you saying that moving their embassy from Tel Aviv to Jerusalem won't solve America's problems?

Why would Mr Trump do it then?

He has certainly solved the "palestinian" problem hasn't he you pathetic little troll.

I would like to alter the above to "ignorant pathetic little troll".

Thankyou.

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Justsayno Go home and have talk to your fictitious autistic son, looser.

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Justsayno

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Re: The new subprime
Reply #5 - Dec 7^th, 2017 at 4:53pm

bogarde73 wrote on Dec 6^th, 2017 at 7:11pm:

The auto industry in the US is shaping up to be the same fiasco the housing market was in 2007.
A very high percent of auto loans are delinquent within 90 days. Bad underwriting or in fact no checking at all means people who could never afford the cars are being sold.

Doesn't bother the banks though. They haven't forgotten how to bundle the bad loans up and sell them off as bonds.

May not trigger the meltdown but it is surely going to make it worse.

Bloomberg has a piece on it somewhere but investmentwatchblog.com is more amusing.

As I near retirement my wife is insisting upon buying a smaller residential property for our retirement. We went to see how much our bank would allow us to borrow for about three years. We were informed the sum would be $600000.00

I am 64 WTF is going on?

NO! Our income is not exceptional.

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Justsayno Go home and have talk to your fictitious autistic son, looser.

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