So it begins. As we’ve seen in the Big Short movie/book, the timing of financial implosions is always difficult to predict, but the inevitable outcome of loaning money to people who can’t or won’t pay you back ALWAYS results in a financial crash/crisis. It has begun. First subprime auto loans. Next subprime credit card loans. Next subprime mortgage loans. Next prime auto loans. Next prime credit card borrowers. Next supposedly prime mortgage borrowers who weren’t really prime.
Continue reading “FIRST DOMINO TO FALL”
