PLUS: A Financial Bubble You Won't Believe
More news on lending and how we are clearly moving back into a subprime lending world. We have talked about this before, but all the pundits have apparently gotten their marching orders. Nobody is talking about how completely crazy these new lending ideas are. In fact, they are going out and trying to convince everyone of how wonderful all these bad old policies are. The trouble is that they don't seem to really remember what got us in trouble (They do, but they want to act like this is somehow different). We will review their argument and point out where they just completely get it all wrong - which they do - alot.
We will also chat a bit about an international version of subprime lending that is 10 times bigger than the subprime bubble from just under a decade ago. This one is nuts and when mixed with our lending practices with homes seems to indicate that things could be an order of magnitude worse this time around.
So it is not a good news Monday - but at least its honest!
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