Gold, Trump & NST, page-35

@Hyperion Silver
@Ophir
@Slim Wanderer
@DaLatta

You think lightening cannot strike twice....apparently it can

Extract from a source who provided me this article.

The bailed-out auto industry drove its own form of malinvestment, pushing the subprime auto loan sector into overdrive. The last time around, Greenspan encouraged people to buy more house than they could afford. The result was a tsunami of foreclosures. This time, those same budget-strapped households have been encouraged to drive more car than their wallets can bear.

Proof: a third of all cars traded in during 2015 had loans that were “underwater.” The owners had taken on debt for more than the value of the vehicles. Although the market for subprime car loans is nowhere near the size of the subprime mortgage market, it hurts the same people who can ill afford such hardships

https://www.linkedin.com/pulse/how-fed-went-from-lender-last-resort-destroyer-american-booth