It is just a matter of time before the whole vicious cycle re-runs itself. They're getting people into new car payment, new house payments, soon they'll inflate property values again and sell houses for more than they are actually worth (again). Wall Street will start swapping CDO's again and it will collapse all over again. This garbage is bound to be recycled unless someone with common sense steps in and stops it all.
I give it about three or four months before people start defaulting on their new auto loans, right about the time for Christmas shopping when people will overuse their credit cards and get in over their heads. If folks couldn't resist the urge to jump in with both feet, they'll be in hot water over their heads.
But, hey...good for Emmett. He may be able to enjoy the fruits of Obamanomics soon.
Originally Posted by Joyful HoneyBee
It is just a matter of time before the whole vicious cycle re-runs itself. They're getting people into new car payment, new house payments, soon they'll inflate property values again and sell houses for more than they are actually worth (again). Wall Street will start swapping CDO's again and it will collapse all over again. This garbage is bound to be recycled unless someone with common sense steps in and stops it all.
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