The First Domino To Fall

Posted By: SpaceCommando [Send E-Mail]
Date: Wednesday, 25-Oct-2023 10:22:52
http://www.rumormill.news/231347

By Jim Quinn of TheBurningPlatform.com – October 23, 2023So 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.Commercial property loans are already bad. They are just extending and pretending, until they can’t. The government is the biggest subprime borrower in the history of the world, as the national debt approaches $34 trillion, up about $1 trillion in a month. And that isn’t taking into account the $200 trillion of unfunded promises which will be defaulted upon, because of math. The shit is hitting the fan and you need to duck.Via ZeroHedgeSubprime Auto Loan Delinquency Erupts, Reaching Highest Rate On RecordWe have been dutifully tracking the auto sector, considered a leading economic indicator, to pinpoint the arrival of the crushing auto loan crisis and even the possibility of the onset of the next recession. In late January, we cited data from Fitch that revealed consumers are falling behind on auto payments – the most since the peak of the Great Financial Crisis. Fast forward nine months later, to September, that rate just hit the highest level in nearly three decades.In what could be . . .[SNIP]*************************************************************************

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