Oct 27 2017

The secret to the current recovery is that American households are up to their eyeballs in debt once again!  Consumer credit hits a record $3.7 trillion.

Do you notice more credit card offers hitting your mailbox?  Are you noticing more “easy financing” for purchasing a new car?  Welcome to the new recovery where spending is being fueled by consumer credit.  Once again people are spending beyond their means.  In an economy driven by consumption you need to keep people spending and […]

May 7 2017

Debt Apocalypse: US Student and Auto Loans Hit New Record of $2.6 Trillion.

American consumers are once again spending beyond their means.  Just a few months ago there was a startling headline reporting that US consumers now had over $1 trillion in credit card debt outstanding.  That seemed astonishing in itself but now looking at debt levels in other sectors we find that auto loans outstanding are also […]

Mar 26 2017

Subprime auto loans face mounting problems: With $1.1 trillion in loans outstanding we all know bad deals are made in good times.

Exuberance breeds bad decisions as inhibitions and due diligence get tossed out the window like dirty water.  This is exactly what is unfolding in the rampaging auto market.  The latest data from Fitch Auto ABS Indices shows that 60+ day delinquencies for subprime loans are now at 5 percent of all outstanding balances.  This is […]

Feb 26 2017

Americans now Hold Over $4.1 Trillion in Consumer Debt: Last Debt Bubble Peak was at $2.5 Trillion.

Americans now hold an incredible $4.1 trillion in consumer debt.  This latest data shows that Americans are now back to having an insatiable appetite for spending beyond their means.  Unlike mortgage debt, consumer debt is not building up any future equity here.  The largest category of consumer debt is student loan debt.  Even at the […]

Dec 2 2015

Unable to afford homes, Americans dive into subprime auto debt to purchase cars: Auto debt getting riskier with extended terms and chasing borrowers with lower credit scores.

The word “subprime” was synonymous with the toxic loans that were made during the credit bubble.  Some tend to think that those days are long gone but we simply have shifted the form in which toxic debt is filtered into the system.  Instead of making no-doc no-income loans on houses, we are now offering no-income […]

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