(Reported By Michael Snyder) In 2008, subprime mortgages almost single-handedly took down the entire financial system, and now a new subprime crisis is here. In recent years, the auto industry has been able to boost sales by aggressively pushing people into auto loans that they cannot afford. In particular, auto loans made to consumers with subprime credit have been accounting for an increasingly larger percentage of the market. Unfortunately, when you make loans to people that should not be getting them, eventually a lot of those loans are going to start to go bad,
and that is precisely what is happening now. Meanwhile, automakers and dealers are starting to panic as sales have begun to fall and used car prices have started to crash. If you work in the auto industry, you might remember how horrible the last recession was, and this new downturn could eventually turn out to be even worse. The following are 12 signs that a day of reckoning has arrived for the U.S. auto industry…READ MORE
Or MAYBE, as in the real estate scam, when you give GOOD PEOPLE BAD LOANS, by convincing them you will work with them and keep the price down, then selling them bad or defective autos, overcharging them two to four times what the car is worth, then blowing up the interest rates on loans you give to certain people, sky high, so that the monthly payment is two or three times that of some other “deserving” people, then yeah, the loan will default. It’s not that hardworking Americans of all races and color “don’t deserve” fair credit and decent cars, just as they “do deserved” to live in decent houses, to raise the families in good neighborhoods with good schools, the same as those some deem “more worthy”. It’s that crooks, shanks and liars who own these companies, jack up the prices and interest rates and basically use a different set of rules when it comes people they think are “unworthy” of the same treatment as everyone else. It’s income versus line of credit you give some while denying others. Didn’t we have this discussion and fight already for people in this country who helped to build it, to have the right to live where they want to and be afforded the same fairness and just treatment as everyone else. It was poor low income outcasts who busted the real estate system. It was greedy bankers who duped honest people out of their money and their homes. And it isn’t “undeserving” car buyers who bankrupted the auto industry. It is greedy corporate moguls who basically outsourced the entire American economy, destroyed Detroit and other urban auto centers, by taking jobs away and leaving abject poverty, so they can bank huge profits for cheap labor. Put the blame where it belongs. We’ve had this argument.
Wheen sоmе оne searches for his essential thing,
therefore һe/ѕhe desires to Ьe availаble tha in ԁetail, therefοre that thing is maintained oѵer hᥱrе.
Article Source: specializes in everything geek we have tech news, geek entertainment, future tech, comics, games and
so much more. Besides, you can add some music, narration or sound effects
with the help of movie editors that have numerous functions that align and lock audio clips
to your video clips. Even more unbelievable is
the fact my favorite movie is Field of Dreams.