Summary: One of the many oddities of this cycle is that many things that were good during the post-WW2 era have become bad in the new era now starting (unrecognizably so, as we remain unaware of our changed circumstances). Like debt. As we see with auto loans, once useful — now malignant. Our use of …
Auto loans: once a boon for America, now a bane Read More »
Summary: Let’s look at the small and large implications of the auto loan boom. It’s an example of our inability to learn, resulting in our credit-driven business cycles. Corporations profit from more sales and interest charges. People suffer from excessive debt burdens, and bankruptcies. Governments run deficits from the eventual busts. So it goes cycle …
Debt unleashed again to ravage America: out of control auto lending Read More »
Summary:Â Modern history consists to a scary extent of boys with toys. Powerful tools used irresponsibly: Atomic weapons, nuclear power plants, debt, and (God help us, genetic engineering). The decades of the Cold War featured several terrifying close calls with nukes. Now we’re suffering the effects of imprudent debt accumulation, and are likely to for …
Auto loans are a driver of the expansion, but might be running out of gas Read More »
Summary: Have we learned much from our 2008 brush with another depression? Look at the growth in subprime education and auto loans, and decide. Will we reforge the fetters on lenders forged in the New Deal to prevent events like 2008? Failure to learn is one sin that Nature always punishes. . Contents Borrowing as …
Rising consumer debt driving the recovery: boon or bane? Read More »
