Business

As reported earlier on Pitchbook, regulators are venturing into fintech targeting online lending platforms.  Numerous lending platforms evolved post financial crisis in order to extend credit to millions of Americans that normal banks couldn't extend credit to, or just flat out wouldn't extend credit to.

As is natural with internet companies, though, the methodologies employed evolved leaving banks antiquated; they can't (and couldn't, and won't be able to) compete given their cost to issue the dollar.

What's one to do when you can't compete?

At the SALT conference, MB Advisors founder and CEO Milton Berg gave an epic interview with Erik Schatzker in which Berg predicted that we are on the verge of a 30 year bear market in both equity and fixed income, and he also gave some sage advice to the average retail investor on what to do with their money at this point.

This is how Milton Berg explains his prediction

Submitted by Charles Hugh-Smith of OfTwoMinds blog,

If we understand property taxes as a "lease from the local government for the right to gamble on another housing bubble arising," we see "ownership" in a different light.

We're constantly told ours is an ownership society in which owning a home is the foundation of household wealth. The concept of ownership may appear straightforward, but consider these questions:

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Nonperforming Loans (NPLs) for U.S. Banks' Commercial & Industrial (C&I) loan portfolio is rapidly deteriorating climbing $9.32 Billion over 2015 Q4 figures.

Commercial & Industrial NPLs

While worsening C&I NPLs are concerning, it is the acceleration in the deterioration that should be alarming. The industry NPL% has leapt to 1.24% which is well above last quarter's 0.78%.

U.S. Banks Commercial & Industrial NPL %