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Reuters Goes To China, Discovers “Ghost Collateral”
Back in 2014, a scandal erupted when media reports confirmed what many had previously speculated about China’s banking system: namely that much of China’s staggering loan issuance had been built...
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From Debt Peons To Wage Slaves – Are Students A ‘Class’?
Authored by Michael Hudson, via NakedCapitalism.com, Students usually don’t think of themselves as a class. They seem “pre-class,” because they have not yet entered the labor force. They can only hope...
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Credit Card Defaults Surge Most Since Financial Crisis
In late April, after some disturbing monthly charge-off reports from major credit card vendors, we reported that according to the latest data from the S&P/Experian Bankcard Default Index, as of...
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Pop Goes The Car Bubble… And It May Not Be a Bad Thing
Authored by Eric Peters via EricPetersAutos.com, Almost every negative thing happening in the car business – in particular, ludicrous technical complexity for the sake of electronic gimmickry and also...
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Meet The Three Headed Debt Monster That’s Going To Ravage The Economy
Authored by EconomicPrism's MN Gordon via Acting-Man.com, Mass Infusions of New Credit “The bank is something more than men, I tell you. It’s the monster. Men made it, but they can’t control it.” –...
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Trump To Rewrite Obama Rules On Student Loan Foregiveness
A few months ago we noted that 31% of college students in the U.S., or roughly 2.4 million kids, literally admitted to using student loan money to fund their binge drinking trips to Cancun and Daytona...
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These Are The US Cities Where Graduates Struggle The Most With Student Debt
With tuition at private colleges routinely eclipsing the $60,000 mark, it’s more important than ever for recent graduates to settle in cities where circumstances allow them to start paying down their...
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It Takes Most Students Twice As Long As They Hoped To Pay Off Their Student...
About 70% of college students – equal to about 44 million Americans – owe a collective $1.4 trillion in student debt. And while the standard repayment plan for federal loans suggests that they should...
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Canadians Brace For A “Perfect Storm” Brewing In Housing Market
We’ve spent a fair amount of time discussing Canada’s housing market over the past several months as Chinese money laundering operations have sprouted up bubbles all over the place. Here’s a modest...
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Dying Middle Class: The Number Of Americans That Can’t Afford Their Own Homes...
Have you lost your spot in the middle class yet? For years I have been documenting all of the numbers that show that the middle class in America has been steadily shrinking, and we just got another...
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Dear Millennials: You Will Be Wiped Out In The Next Stock Market Crash
shtfplan.com / Mac Slavo / July 12th, 2017 It should be well known by now that the Millennial generation was screwed over by factors outside of their control. They were raised by coddling parents,...
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Bank Of England Warns Of “Spiral Of Complacency” Over Soaring Consumer Debt
A few weeks ago, we wrote a note about how European auto lenders are becoming just about as ridiculously undisciplined as their counterparts in the United States. Apparently an ever-growing reliance...
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The Madness Is Back: Homeowners Take Out Mortgages To Buy Bitcoin, Cars And Wine
It’s been about a decade since the term “mortgage arbitrage” made headlines. It’s back. In the clearest sign yet of just how late far the investing cycle the developed world finds itself, the FT writes...
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UBS Explains Why The Next Credit Unwind Will Be Unlike Anything We’ve Seen...
Several weeks ago, Janet Yellen boldly declared “I don’t believe we will see another crisis in our lifetime.” For the rest of us who live in reality there is little doubt that the latest Fed-fueled...
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Which States Have The Most Mortgage Fraud
In a recent blog post by CoreLogic, the real estate consultancy has determined the regions of the U.S. that have the highest correlation with the National Mortgage Fraud Risk index. The regions that...
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Housing Bubble 2.0: Home Equity Loans Soar To Highest Level Since 2008
It seems as though the practice of using one’s home as a personal ATM machine is making a ‘yuge’ comeback of late thanks, at least in part, to the same aggressive lending terms and attractive teaser...
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Going Down! Bank Lending Growth Falls Apart (Real Estate, C&I, Credit Cards,...
wallstreetexaminer.com / by Anthony B Sanders / August 31, 2017 Commercial bank lending for commericial and industrial (C&I) loans, real estate loans, credit cards and automobile loans are, as New...
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Millennials Have Never Been More In Debt, And It Is Creating A Major Risk For...
There is a seemingly unlimited number of disconnects in financial markets these days, not the least of which is the shocking divergence in recent years between the ever plunging unemployment rate in...
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Vulture Investors Swarm To Houston As Flooded Homes Sell For 40 Cents On The...
“The time to buy is when after there’s blood water in the streets.” As 1,000’s of families along the Texas shoreline continue to struggle with putting their lives back together following the...
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How The Elite Dominate The World – Part 1: Debt As A Tool Of Enslavement
Throughout human history, those in the ruling class have found various ways to force those under them to work for their economic benefit. But in our day and age, we are willingly enslaving ourselves....
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