“Junk In The Trunk” – Investors Get “Comfortable” With Subprime Auto Loan Bonds
The longer an expansion lasts, the crappier its paper becomes. That may seem like a baseless assertion, but it’s actually just simple math. Early in
The longer an expansion lasts, the crappier its paper becomes. That may seem like a baseless assertion, but it’s actually just simple math. Early in
Back in the 1500s, a financial agent of Queen Elizabeth I named Thomas Gresham observed that that “bad money drives out good.” That is, if
Long credit cycles like the current one always end with a crash. But first they deteriorate. The headline numbers remain positive while under the surface
US factory orders tanked again this morning, and were generally reported that way at first. To take just a few of the low-lights: Factory orders
New car sales have been one of the bright spots of the US recovery. And they’re still at it: September U.S. auto sales to rise
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