End of Subprime Consumption
Published in BL on Jan 22, 2008
Explaining why these are the early stages of the US Consumption bubble deflating. The immediate list of casualities post the subprime housing debacle would be the housing Industry in general, the EZ Car loans and then the credit card Industry -- all of which are "sub-prime" by definition.
1 Comments:
An excellent article. One marginal note comes to mind: it has been claimed by auto-finance people in the US that car loans are relatively safe because one could lose his house (and move to a tenement) but not his car (which, if you live in the US outside of NYC, is equivalent to losing your legs).
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