Credit card lenders gave out 1.1 million new cards to borrowers with damaged credit in December, up 12.3% from the same month a year earlier, according to Equifax’s credit trends report released in March. These borrowers accounted for 23% of new auto loans in the fourth quarter of 2011, up from 17% in the same period of 2009.
Oh that’s going to end well :roll:
Fog a mirror loans.
Good grief. Will we never learn?
With governments around the world running their printing machines, my advice is to borrow all you can. Savers get slaughtered: No interest paid by banks while the purchasing power of paper money decreases.
Now is the time to get ear-deep in debt IMHO. Pay them back with the toilet paper our dollars will be worth in the future.
That assumes massive inflation when a deflationary depression is more likely when it all comes crashing down IMHO
Go buy a bag of groceries at Whole Foods, then come back here and tell me there is no inflation.
You missed what I said.
When it all comes crashing down.
This excessive debt around the world cannot continue.
Eventually the systems breaks down, economies crash and prices with it.
We have pulled forward so much demand with “cheap” money that it almost assures a crash.
The next crash will be because prices increase (purchasing power of dollar crashes). Borrow all you can now at low interest rates… pay it back with worthless paper money later.
Lenders also got strict on home loans, and are now right back up to letting you borrow 100-115% of the value of the property. They find they cant make money if they dont lend any and since the country is all hard up the only way is to lend in high risk scenarios.
Yep. My bank called last week and asked if they could lend me money on any projects I have going. No sooner did I hang up the phone when John Deere Credit called me and told me they’d finance more heavy equipment if I needed anything. I’m not too sure what’s going on.
can’t sell much without financing it - been that way for 30+ years. people don’t realize, you are basically rich if you own your home and auto but most never will