We’ve been shouting from the rooftops about the dangers inherent in the subprime auto market for more than a year.
Auto debt in America has joined student loan debt in the trillion dollar bubble club and part of the reason why is that Wall Street is once again perpetuating the “originate to sell” model whereby lenders relax underwriting standards because they know they’ll be able to offload the credit risk.
Are Americans Too Insouciant To Survive?
Paul Craig Roberts
When one looks at the deplorable state of the world, one cannot help but wonder at the insouciance of the American people. Where are they? Do they exist or are they a myth? Have they been put to sleep by an evil demon? Are they so lost in The Matrix that they cannot get out?
Talking of Oil and Gold, last week Deutsche Bank showed a long-term graph of Oil in real adjusted terms, showing that the average real price since 1861 was $47.
Following on from that, Deutsche notes one ratio they occasionally look at is the ratio of various assets to the price of Gold...
Today we update the Oil/Gold ratio back to 1865 and find that the Gold price has just hit an all time high at around 44 times the price of Oil.
The previous high of 41 in 1892 has just been exceeded.
Turkey is effectively waging a war against Syria and Iraq due to Turkish President Recep Tayyip Erdogan’s policies towards the two country, says Stephen Lendman – American author and radio host. Erdogan has accused the U.S. of creating a “pool of blood” in the region due to its support of the Syrian Kurdish Democratic Union Party (PYD) and its military wing, People’s Protection Units (YPG), in an anti-Syrian speech on Wednesday. “Hey America! We know these [organizations] very well.
David Rockefeller is a part of American history and the only billionaire in the world who is over 100 years old. The richest oldest man on the planet is due to turn 101 in June. He is part of a family dynasty whose name is associated with America and has become legend. His grandfather John D Rockefeller who died in 1937 was the founder of Standard Oil and the world’s richest individual. The name Rockefeller has been associated with wealth, power, politics, finance, diplomacy, philanthropy, marijuana prohibition, aliens, UFO’s and conspiracy theories.