CRISIS IN THE AUTO INDUSTRY - The Bubble Has Become Unsustainable!
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CRISIS IN THE AUTO INDUSTRY - The Bubble Has Become Unsustainable!
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Published on Jun 1, 2017
Josh Sigurdson sits down with author and economic analyst John Sneisen to talk about the massive bubble burst creeping closer and closer in the auto industry following the biggest subprime auto lender Santander (being dubbed the New Century of auto finance) skipping income verification on 92% of auto loans.
We are watching the type of manipulation we've been warning about in the housing market. The same type of manipulation we saw just before the 2008 recession.
Instead of mortgage backed securities (MBS) we are seeing auto backed securities (ABS) on an aggressive level.
Santander's ABS deals from 2015 sported an average FICO (or credit rating) of 595, LTV of 110%, APR of 16.2% and a term of 70 months. This is actually worse than New Century!
Santander as reported is the largest subprime auto lender in the country with more than $15 billion in outstanding loans to under-qualified buyers.
As we continuously call out the vast manipulation and central planning in both the markets and monetary system, people continue to turn their heads and pretend nothing's happening and that everything's okay. We are continuously vindicated but all the same, no one seems to care.
This market manipulation and destruction affects everyone eventually and it's incredibly important we call it by its true name. It's a PURGE of the markets, free of actual free market demand or decisions. It's centrally planned and built to fail. People end up in debt servitude and the script plays on.
The sooner we understand these inherent problems, the sooner we get out of the Hegelian nature of problem, reaction, solution, repeat and instead protect ourselves via voluntary interactions between free individuals. Market manipulation is put forward to fix the problems when it creates the problems in the first place.
Be self dependent and responsible and deny the social constructs of these massive failure.
Stay tuned as we continue to break this down!
Video edited by Josh Sigurdson
Featuring:
Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
Visit us at www.WorldAlternativeMedia.com
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World Alternative Media
2017
"Find the truth, be the change!"
We are watching the type of manipulation we've been warning about in the housing market. The same type of manipulation we saw just before the 2008 recession.
Instead of mortgage backed securities (MBS) we are seeing auto backed securities (ABS) on an aggressive level.
Santander's ABS deals from 2015 sported an average FICO (or credit rating) of 595, LTV of 110%, APR of 16.2% and a term of 70 months. This is actually worse than New Century!
Santander as reported is the largest subprime auto lender in the country with more than $15 billion in outstanding loans to under-qualified buyers.
As we continuously call out the vast manipulation and central planning in both the markets and monetary system, people continue to turn their heads and pretend nothing's happening and that everything's okay. We are continuously vindicated but all the same, no one seems to care.
This market manipulation and destruction affects everyone eventually and it's incredibly important we call it by its true name. It's a PURGE of the markets, free of actual free market demand or decisions. It's centrally planned and built to fail. People end up in debt servitude and the script plays on.
The sooner we understand these inherent problems, the sooner we get out of the Hegelian nature of problem, reaction, solution, repeat and instead protect ourselves via voluntary interactions between free individuals. Market manipulation is put forward to fix the problems when it creates the problems in the first place.
Be self dependent and responsible and deny the social constructs of these massive failure.
Stay tuned as we continue to break this down!
Video edited by Josh Sigurdson
Featuring:
Josh Sigurdson
John Thore Stub Sneisen
Graphics by Bryan Foerster and Josh Sigurdson
Visit us at www.WorldAlternativeMedia.com
LIKE us on Facebook here:
https://www.facebook.com/LibertyShall...
Follow us on Twitter here:
https://twitter.com/WorldAltMedia
DONATE HERE:
https://www.gofundme.com/w3e2es
Help keep independent media alive!
Pledge here! Just a dollar a month can help us stay on our feet as we face intense YouTube censorship!
https://www.patreon.com/user?u=265207...
BITCOIN ADDRESS:
18d1WEnYYhBRgZVbeyLr6UfiJhrQygcgNU
PAYPAL:
WorldAlternativeMedia@gmail.com
Buy Tickets To The Historic 'Red Pill Expo' in Montana!
http://redpillexpo.ontraport.com/t?or...
World Alternative Media
2017
"Find the truth, be the change!"
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