Thursday, July 13, 2017

I'm looking for subprime debt to begin defaulting en masse.

All of the fed accommodation in the markets since the crash of 2008-2009 caused people to have hope again and thus stopped defaulting on their credit card debt.  But now we see that trend has slowed, bottomed and is now rolling up. 

At the same time, Mish is calling a peak to the auto cycle.

Good luck to us all.

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