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Seriously, the same systemic risks are still there. The same moral hazards ... Too big to fail is STILL too big, not only even bigger than ever, but too big to care. Holy indifference. & they still have their 'get out of jail free' cards (no expiration date in sight) & their self-proclaimed omnipotence.
Done. (glad I got some of this off my chest)
EVERYBODY should watch The Big Short movie. After the movie ended, I could see people were in complete shock, especially in regards to how so few of the crooks who caused the mess in the first place are still in charge
Record Auto sales is a huge fallacy. Wall Street has securitized auto lending and vastly reduced the lending standards much in the same way pre 2008 mortgage industry.
Many folks are paying 30 percent, with notes that are 8 to 10 years long. It's just a short matter of time before the automotive sales industry experiences a huge crash...
Yellen's comments come soon after Republican presidential contender Donald Trump's contention that an economic bubble could burst. Yellen noted that she did not see "imbalances" like "clearly overvalued" asset prices.
Like I mentioned in another thread, this sounds eerily similar to how Bernanke didn't perceive a housing bubble in 2006 and assuring everyone not to worry...
Like I mentioned in another thread, this sounds eerily similar to how Bernanke didn't perceive a housing bubble in 2006 and assuring everyone not to worry...
Bernanke was saying that the banks and housing markets were solid right up until they collapsed.
Yellen said she was going to raise rates.....there was one very small bump and she said that there would be more this year....the markets threw a hissy fit and took a big dive.....she backed off.
She is going to say or do nothing that isn't in the best interest of Wall Street.
EVERYBODY should watch The Big Short movie. After the movie ended, I could see people were in complete shock, especially in regards to how so few of the crooks who caused the mess in the first place are still in charge
We walked out of the theater in dead silence. It really is something people need to see.
Mind you, he definitely isn't the only wealthy person out there who feels that US economic system is in grave danger (Overstock CEO comes to mind)...
Several forecasters have been predicting it, though Forbes is backing off a bit. He doesn't appear to be as concerned as he was a month ago. I don't really know, I wouldn't say it looks rosy though. Retail and wholesale off, oil down, Europe, China, student loans - not good. This time, the central banks are not going to be able to lower interest rates. That alone freaks me out, I don't even want to think about it.
Team Obama is setting us up for another housing-market collapse
The Obama administration is doing its best to give the nation another mortgage meltdown.
As Paul Sperry recently noted in The Post, Team Obama has pushed mortgage lenders to offer home loans to folks with shaky credit, setting up conditions for another housing-market collapse.
Wasn’t the last one bad enough?
Credit scores of approved borrowers, for example, have been trending down, even as their debt levels have grown.
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