Our Current Illusion of Prosperity

By Frank Hollenbeck – Re-Blogged From http://www.Gold-Eagle.com

President Obama and Fed Chair Janet Yellen have been crowing about improving economic conditions in the US. Unemployment is down to 5.5 percent and growth in 2014 hit 2.2 percent.

Journalists and economists point to this improvement as proof that quantitative easing was effective.

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Subprime Delinquencies Rising In Autoland

David Stockman   By David Stockman – Re-Blogged From http://davidstockmanscontracorner.com

Yesterday’s WSJ article on rising auto loan delinquencies had a familiar ring. It focused on sub-prime borrowers who were missing payments within a few months of the vehicle purchase. Needless to say, that’s exactly the manner in which early signs of the subprime mortgage crisis appeared in late 2006 and early 2007.

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