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I thought we learned our lesson in 2008 with subprime loans. Guess not.
WE learned our lesson, but liberals/democrats did not.
As libs and dems love to revise history and deny any responsibility for anything, they are unable to learn from the past to prevent future mistakes. As a result, they make the same mistakes, over and over again. We see that in the same inane, worn out democrat "policies" which basically involve throwing money at ANY situation they don't understand, vacating responsibility, and supporting any perversion or deviance from moral, ethical behavior.
Libs are dumb enough to be confused as to why we have high inflation! Well............. if you flood the economy with massive QE and spending while killing the energy sector, ANY IDIOT could tell you that inflation will happen. However, we are not just dealing WITH ANY COMMON IDIOTS. These idiots are once in a generation stupid and have made inexplicable decisions that defy any semblence of common sense.
We can safely say we are dealing with levels of idiocy in the DNC that will not be replicated for a hundred years.
It appears in a quest to blame Biden for everything, some don’t bother to read the links they post to support their claim.
In this case, the article makes clear the delinquency rates are nearing pre-pandemic levels.
Who was POTUS pre- pandemic?
Not that it matters, given neither POTUS nor the federal government have anything to do with private lenders extending credit ( car loans, credit cards etc ) to subprime borrowers.
There has always been a strong market for subprime car loans and borrowers are charged a substantially higher interest rate because the risk of default is so high. Unlike a home loan, repossession occurs within months of default.
Credit card debt is unsecured. Collections may pursue a court order for wage garnishment if the balance warrants it.
Article has been read. Article states consumers are falling behind. That's fact.
Biden inherited a historic recovery and has blown it. It doesn't matter that you don't like that fact. It's still fact.
It's just a sign of things to come. If it makes you feel better to divert to other topics or other people, have at it. It doesn't change the fact consumers are falling behind and that is not a good sign for things to come.
I thought we learned our lesson in 2008 with subprime loans. Guess not.
Every time the liberals fall on heir faces as a result of their own far-left-nutty policies, their solution is: "Put even more far-left-nutty policies in place, and things will get better."
People can only "learn their lesson" if they are capable of learning. I have seen no sign of that ability from the Houseplant-in-Chief and his cohorts.
Under Obama, the too-big-too-fail corrupt banks and financial institutions who orchestrated all the subprime mischief not only didn’t get punished, they became even larger!
WE learned our lesson, but liberals/democrats did not.
As libs and dems love to revise history and deny any responsibility for anything, they are unable to learn from the past to prevent future mistakes. As a result, they make the same mistakes, over and over again. We see that in the same inane, worn out democrat "policies" which basically involve throwing money at ANY situation they don't understand, vacating responsibility, and supporting any perversion or deviance from moral, ethical behavior.
Libs are dumb enough to be confused as to why we have high inflation! Well............. if you flood the economy with massive QE and spending while killing the energy sector, ANY IDIOT could tell you that inflation will happen. However, we are not just dealing WITH ANY COMMON IDIOTS. These idiots are once in a generation stupid and have made inexplicable decisions that defy any semblence of common sense.
We can safely say we are dealing with levels of idiocy in the DNC that will not be replicated for a hundred years.
"In just one year, Biden has managed to torch an economy that was recovering robustly when he took office."...."One bad decision after another, compounded, to be sure, by certain events beyond his control, have scuttled the turnaround that was well underway the day he became president."
This article was written 5 mths ago...Since Then Boe Jiden has managed to do worse with Afghanistan Debacle, Ukraine and now Hyper-Inflation...
Will Biden leave anything to Rebuild by the time Congress Impeaches him?
“Consumers are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end.”
This always happens. We inflate the economy (like under Trump in this case) and banks start handing out risky loans. When reality catches up, people miss payments. These loans aren't new and didn't just originate over the past year or so.
This always happens. We inflate the economy (like under Trump in this case) and banks start handing out risky loans. When reality catches up, people miss payments. These loans aren't new and didn't just originate over the past year or so.
Correct
I also believe the "cashless" economy has created a huge increase in credit card debt.
Article has been read. Article states consumers are falling behind. That's fact.
Biden inherited a historic recovery and has blown it. It doesn't matter that you don't like that fact. It's still fact.
It's just a sign of things to come. If it makes you feel better to divert to other topics or other people, have at it. It doesn't change the fact consumers are falling behind and that is not a good sign for things to come.
People signed up for these loans years ago, I can't read the article but I assume they took out ARM's. Yes consumers are falling behind why shouldn't they with loans increasing several percentage points. The subprime market rates are high to begin with because they don't have the credit history to qualify for a traditional loan, lenders know they are high risk so this is no surprise.
I don't understand why something that started years ago is suddenly Biden's issue. Unemployment is still low and wages are increasing but not enough to cover inflation in many cases.
My newspaper was late this morning, it's Biden's fault.
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