Mon, 11 August 2014
There's a new consumer credit bubble taking place. Some of it is obvious and some it is not so obvious. But it's happening nonetheless. But get ready because lessening FICO standards is only the beginning. You're going to see it with mortgages and credit cards and some many other types of credit. In a world where the banks are mere appendages of the government, when Uncle Sam wants credit expansion, he just has to say the word and it gets done, no matter how uncredit worthy the borrowers maybe. And who could be less creditworthy than Uncle Sam himself? He's hundreds of trillions in hoc and taking on more every second.
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Mon, 11 August 2014
Manipulation Mondays with Andrew Hoffman:
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Mon, 11 August 2014
John Rubino joined us to discuss how the Keynesian geniuses over at Treasury are now resorting to FICO inflation to help lift the economy. For some reason, they believe that if they artificially inflate consumers' credit scores, this will lead to an increase in economic activity. More consumers will be able to get credit cards, buy autos and homes. While this may be true for a short time period, it will also help bring on another credit bust, eventually leading to a bust. How stupid can they be? We also discussed the new American bombing attacks in Iraq and what it means for the country and you. There's much here to digest.
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