In this episode of the Keiser Report, Max and Stacy discuss #carmageddon and the toxic debts that have brought the credit markets to such a scary place. Bad car loans could be the epicenter of the next financial crisis. Many, including Peter Schiff, have already warned that car loans in the U.S. are going bad. Keiser declares,
“The new subprime is here, and it’s stalking the globe.”
Stacey confirms,
“Subprime automobile loans could threaten to take down our economy, our Ponzi scheme economy. And you know the Fed is now tapering a Ponzi.”
Fitch Warns on Bad Car Loans
Fitch has warned, institutional investors who manage other people’s money grabbed subprime auto-loan-backed securities because of their slightly higher yields.And that, those loans issued in 2015 may end up the worst performing ever in the history of auto-loan securitizations.
In the second half, Max continues his interview with journalist and businessman, Vito Echevarria of Cuba Ventures Corp. The two discuss the latest in the US-Cuba relationship and how much of Obama’s progress will be destoryed.
