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“We Only Need Tax Returns And A Financial Statement – Which We Won’t Investigate”…
Over the past month, I've documented the imminent demise of the subprime auto bubble.
All of the signs are there:
soaring auto debt, which now sits at ~$1.2 trillion in the US
a booming securitization market with a record high percentage of total ABS comprised of deals from subprime lenders
rising delinquencies
more loans made to borrowers with low to non-existent FICOs
This, I argue, is 2006/2007 all over again only on a (mercifully) smaller scale.
With that in mind, consider the follo
It’s like the 2007,8,9 CRISIS NEVER HAPPENED.