Economic Collapse Is Gathering Speed – Economic/Monetary/ World War, The Debt Bubble, Global Reset March 4th, 2014 The Debt Bubble Expands As Auto Loan Amounts Hit A New Record Is anyone surprised that the poorest and least credit worthy of Americans are being saddled with piles of debt in order to buy new cars? It’s not enough that a generation of our citizens will toil pointlessly to pay off more than $1 trillion of student loans, we may as well add some other form of debt burden on top of it. It’s hard to even imagine this is happening so shortly after the last credit bubble train wreck, but happening it is. Creative ways for people to purchase cars they can’t afford have been on my radar screen for some time now, and if you recall, I posted an article last April titled: Just Keep Dancing: Introducing the 97-Month Auto Loan. Well the dancing has continued, and now we have Americans borrowing at all-time record levels to buy cars. USA! USA! From CNBC: A combination of higher prices for new cars and relatively low rates for auto loans means Americans are borrowing a record amount to pay for their new rides. According to Experian Automotive, which tracks millions of auto loans written each quarter, the average amount borrowed by car buyers last quarter climbed above $27,000 for the first time ever. According to Experian, the average auto loan in fourth quarter 2013 was $27,430—an increase of $739 compared with the same period of 2012. The average used car loan was $345 higher, coming in at $17,974. Those with non-prime credit ratings—or credit scores between 620 and 679—had the highest average auto loan. For these borrowers, the average new car loan rose more than $1,500, to a new high of $29,385. Not surprisingly, those with subprime credit ratings—credit scores between 550 and 619—had the highest average monthly payment, of $499. Yep, no doubt this will turn out just peachy. zerohedge/news/2014-03-04/debt-bubble-expands-auto-loan-amounts-hit-new-record New York City – Chicago – Los Angeles – 3 Huge Cities Flirting With Bankruptcy When former Los Angeles Mayor Richard Riordan gazed into his crystal ball in 2010, he told the Wall Street Journal, “Los Angeles is facing a terminal fiscal crisis: Between now & 2014 the city will likely declare bankruptcy.” money.msn/investing/post–3-huge-cities-flirting-with-bankruptcy The U.S. May Be Preparing To Declare Economic War On Russia [AND VICE VERSA] Turk: “Eric, the world is erupting in chaos and gold has now risen into overhead resistance in the $1350 area. It has done so under the worst of circumstances, a geopolitical threat, but it has done so nonetheless. The Crimea has exploded with activity and troop movements. All of this is taking place with an already growing number of geopolitical tensions we have been seeing around the world…. “History shows that when economic activity is weak and the standard of living stops improving, political rhetoric and saber-rattling follows, which often lead to war. It is easier for a country’s politicians to blame neighbors rather than themselves for the misguided policies they are pursuing which have caused the economy to suffer.’ kingworldnews/kingworldnews/KWN_DailyWeb/Entries/2014/3/3_The_U.S._May_Be_Preparing_To_Declare_Economic_War_On_Russia.html Economic Battle Over Ukraine Escalates Between US, Russia The battle over Ukraine’s future is also economic: on Tuesday, Russia cranked up the pressure by ending discounts on its natural gas supplies, while the U.S. and European Union offered quick-fix aid to the beleaguered government.To help Ukraine in the longer term,… moneynews/Economy#ixzz2v287fgms China and Japan on the brink of Third World War As China flexes its military might, with huge increases in defence spending and increasingly assertive patrols in disputed territories, Japan has compared the tensions to those between England and Germany before the First World War. So far it has been a war of words. However, historian Niall Ferguson has warned that US President Barack Obama’s policy of non-intervention, or, as he puts it, his being “resolved only to avoid being George W Bush”, also resembles the incoherent foreign policies of British Liberals a century ago before the First World War. Against this background, a dispute over five uninhabited islands and three barren rocks looks increasingly dangerous. China views the “nationalisation” of what it calls the Diaoyu Islands by the Japanese in 2012 as a serious provocation and will do whatever is necessary to assert its sovereignty. express.co.uk/news/world/462565/China-and-Japan-on-the-brink-of-Third-World-War China Says Military Will Respond to Provocations China’s military is prepared to respond to all threats to the country’s sovereignty, a government spokeswoman said Tuesday, ahead of the expected announcement of another big bump in defense spending. abcnews.go/International/wireStory/china-military-respond-provocations-22762526 MONETARY WORLD WAR ESCALATES: Putin Advisor Threatens To DUMP US Treasurys, Abandon Dollar If US Proceeds With Sanctions “If the United States dares to freeze accounts of Russian businesses and citizens, we can no longer view America as a reliable partner. We will encourage everybody to dump US Treasury bonds, get rid of dollars as an unreliable currency and leave the US market.” zerohedge/news/2014-03-04/putin-advisor-threatens-dumping-us-treasurys-abandoning-dollar-if-us-proceeds-sancti More IMF Lies? *U.S. ECONOMIC GROWTH IS GATHERING SPEED, IMF’S LIPTON SAYS It appears the “big lie” remains well and truly in place… Just keep repeating it… Oh and as a follow-up, Lipton nails it on Mexico… *MEXICO’S 2013 SLOWDOWN DUE TO TRANSITORY REASONS, LIPTON SAYS *IMF EXPECTS `MUCH FASTER’ MEXICAN GROWTH IN 2014, LIPTON SAYS investmentwatchblog/economic-collapse-is-gathering-speed-economicmonetary-world-war-the-debt-bubble-global-reset/
Posted on: Wed, 05 Mar 2014 04:49:51 +0000
Trending Topics
Recently Viewed Topics
© 2015