Yves here. Subprime auto loans provide more evidence that this supposedly solid “recovery” has cracks in its foundations. This is the sort of “Ponzi finance” behavior that Minsky accurately depicted as leading to eventual ruin. By Wolf Richter, editor of Wol…
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Subprime Auto Loans Explode, “Serious Delinquencies” Spike to Record. But There’s No Jobs Crisis, These Are the Good Times
