http://www.dailyfinance.com/2014/01/02/next-subprime-time-bomb-car-loans/ This is very scary stuff. GM And WFC are going down! Al
stop living life in fear. even if this were remotely true we're talking about 20-30k auto loans, not 200k-1M home loans. I can see the head lines now...2014 car loan crisis that shook the world. *sarcasm off*
Dunno, who is going down and when, but crazy credit is back to where it was before last crash. The best indicator is my mail box, filled with 0% APR balance transfer offers. Just as it was before last crisis. Hey..I just got a new car for my wife at 0% for next 3 years. I gladly accepted the offer and put my money to MM account at 2.3% better than nothing
https://www.royalbanksofmo.com/personal_banking/checking/majestic-checking.aspx sorry, it's 2.16% or get 3% on 5 year CD at PenFed https://www.penfed.org/money-market-certificate/?calculator=mmc-calculator better than nothing
Good point about Wells Fargo WFC too. That's a clear short Also! I have noticed lots of their stores in very poor ghetto areas-- they are the non banked last hope before the payday lender. Al Toid
the 15 minute chart on GM looks omnious-- will 40 be taken today, triggering the tidal wave of shorts? <a href="http://tinypic.com?ref=mslu68" target="_blank"><img src="http://i39.tinypic.com/mslu68.png" border="0" alt="Image and video hosting by TinyPic"></a>