Credit bubble a-burstin': wave of bankruptcies sweeps subprime car-lenders

Credit bubble a-burstin': wave of bankruptcies sweeps subprime car-lenders

The subprime car-lending business — charging exorbitant charges for car-loans to individuals least suited to afford them, enforced by orwellian technologies, obscuring the danger by spinning the debt into high-risk/high-yield bonds — is collapsing. The three most outstanding lenders within the subprime auto sector shut down spectacularly and abruptly by bankruptcies and fraud […]

If this goes on... The 1% will own two thirds of the world by 2030

If this goes on… The 1% will personal two thirds of the world by 2030

The House of Commons Library has printed analysis projecting the post-2008 progress of inequality till 2030, arriving at an eye-popping headline determine: at present charges, the richest 1% will personal two thirds of the world’s riches by 2030. I believe that quantity is simply too low. Here’s why. The years since 2008 have […]