- Look out below: Three — no, make it 4 — reasons it feels like 2007-08 this morning…
- Subprime lending up (again… really?), private equity opting for IPO and a shocking fact you didn’t know about oil prices…
- “Normal market behavior”… Vancouver favorite cheers up gold holders who bought at the most recent top…
- Death, taxes and one grim statistic… still time to buy a house… muddy boots in South America… and more!
“Even I wouldn’t make a loan to me at this point,” says Annette Alejandro. Ms. Alejandro recently emerged from bankruptcy, her car was repossessed last year and she has no job.But her mailbox is stuffed with offers for credit cards and car loans.
We begin today’s episode with “deja vu”-induced vertigo this morning. Three items flitted into our inbox in the last 24 hours. By themselves, the items might not mean much. Coagulated, they give us the same queasy feeling we had in 2007-08.
Credit card lenders issued 1.1 million new cards to subprime borrowers last month — up 12.3% from a year ago, according to the credit-reporting outfit Equifax.“As financial institutions recover from the losses on loans made to troubled borrowers,” reports The New York Times, “some of the largest lenders to the less than creditworthy, including Capital One and GM Financial, are trying to woo them back, while HSBC and JPMorgan Chase are among those tiptoeing again into subprime lending.”
Plotted on a chart, it looks like this…
http://5minforecast.agorafinancial.com/feeling-the-2007-twitch/
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