The Phaserl


Subprime Consumer Debt Soars to 7-Year High

by Dave Kranzler, Investment Research Dynamics:

This will not end well:   “The trend stems from lenders and investors seeking high yields in a low-interest rate environment. So it’s no wonder that total household debt rose $306 billion, or 2.7 percent, in the fourth quarter from a year earlier to the highest level since 2010.” (Newsmax)

Subprime lending as a percentage of total consumer lending is now close to where it was right before the financial collapse of 2007 (click to enlarge):

Of course, if you blow away the Orwellian smoke from the Graham-Dodd legislation, U.S. lenders of all varieties are not subject to less scrutiny and oversight than before the de facto financial collapse in 2008.

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