‘Solutions Are Obvious’ – The US Higher Education System Is Broken

‘Solutions Are Obvious’ – The US Higher Education System Is Broken

Authored by ‘Solutions Are Obvious’ via The Burning Platform blog,

The US higher education system is broken. In many cases, it produces individuals with useless degrees purchased at outrageous cost. The system itself is an infestation of ultra liberal professors, spineless administrators and a student body that becomes more and more radicalized and detached from reality the more courses they take.

The higher education system is the incubator for the anti white, anti male, anti Trump, pro freak, pro censorship, anti gun, pro socialist, anti conservative, pro unlimited immigration, pro free everything mentality that pervades what purports to be the evening news. It infantilizes young adults to produce a steady stream of victims and mental midgets completely unprepared to meet the real adult world. In short, it produces the Democrat voter.

All is not lost, however. By and large, STEM graduates are less affected by the SJW mental aberration as their critical thinking abilities are necessarily on a higher plane to be able to cope with a curriculum that is more than just opinion. STEM fields have empirically based phenomena to comprehend and must use known tested methods of reasoning and logic to handle the problems and situations a particular field is called upon to investigate. Although STEM students are typically forced to sit through nonsense classes and regurgitate what the instructors deem critical information, they instinctively know its BS and promptly forget it once the class is over. They’re typically not permanently scared.

The problem lies with the ‘Basket Weaving’ majors where no proof of anything is required or even possible as it’s all just opinion and supposition. The Humanities / Social Sciences / Liberal Arts courses offer an easy path towards a degree, many of which are absolutely worthless. It’s actually a shame that some of them do lead to living wage and beyond employment options that end up producing many of the fraudulent professions society is encumbered by like Economics, Psychiatry and other specializations that can’t prove anything past common sense.

I’ll concentrate primarily on what to do to eliminate only the most egregious fraudulent degrees that are currently plaguing society.

The concept of tenure needs to be eliminated. No one should be guaranteed a livelihood by managing to hit some arbitrary mark and thereafter have no responsibility for doing a good job as reviewed by their employer. The education profession needs to get rid of the dead wood clogging the system and consuming resources.

All higher education facilities should be mandated to provide their graduates with job opportunities via an employment agency owned and operated by the institution, not a contracted for service. The schools should be totally responsible for finding each graduate a position in the degree field of study for 5 years post graduation.

If the institution is unable to place a graduate, then the former student is entitled to a full refund of all tuition paid for a proven obviously useless degree plus 5 times tuition paid for the waste of time involved and to provide the former student with a funds cushion to get retrained in something with a future. In the case where a graduate is unemployable for no reason the school is responsible for or where there is a dispute over responsibility, a 3rd party would be called upon to make a judgment.

If this were implemented, Gender Studies, Recreational Science, Hospitality Science, Museum Curator, Drama Studies and similar courses would disappear overnight from most campuses along with the faculty that teach the classes. The schools know these are for the most part BS courses and know that the chances of someone getting employed with one of the basket weaving degrees is so low that it would be financially too risky to offer the course.

Gone would be the professors teaching these nonsense courses. Gone would be the lenders to provide the student loans, guaranteed by the Fed Gov which steals the funds from the general public. Gone would be the students mentally or some other way incapable of STEM degrees with no option but to consider vocational training or learn how to say – ‘Do you want fries with that’. Gone would be the windfall profits higher ed facilities have enjoyed in recent decades. Gone would be the unsustainable building boom for facilities completely unrelated to teaching but used as enticements to attract low IQ students easily dazzled by shiny objects. Gone would be the nonsense classes STEM students are now forced to take. Gone would be the environment were the purveyors of bullshit get to indoctrinate the latest crop of weak susceptible minds.

Some may claim this violated free market principles. I would counter that the advancement of institutionalized fraud is not in the society’s best interests. If a student were to sign away his/her rights to compensation and effectively opt for today’s environment, then that would absolve the institution of responsibility. The free market would be restored as long as informed consent is involved.

In addition, it should be obvious that no one should be able to get an advanced degree in a field that can’t prove it’s basic precepts. As mentioned previously, something like Economics is almost entirely BS. Economists can’t prove anything past common sense and can’t even provide a proper postmortem after an economic catastrophe. Likewise, Psychiatry has not a single empirical test for the hundreds of conditions listed in their DSM. Psychiatry is opinion masquerading as science and is simply an outlet for Big Pharma to push their mind altering poisons. The large majority of mass shooters have been on prescription only psychoactive drugs.

Other fields that I generally refer to as the ‘story telling’ professions should likewise be reigned in. Paleontology, Anthropology, Cosmology, large portions of Geology and many more fields are largely based on a plausible story as their foundation, sans evidence. Absolute proof for their assertions is impossible and consequently it should be impossible to get a degree above Bachelors in these disciplines.

No one should claim to be an expert (PhD) in a field that is based on opinion. In the off chance that something like Climate Science might someday actually be able to provide proof of their assertions, it, as an example, should be able to produce Bachelors graduates that can attempt to further the field but would no longer be able to fool the public into thinking they know what’s going on due to their bogus PhD pedigree.


Tyler Durden

Mon, 11/11/2019 – 21:45

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Bay Area Home Prices Continue Slide, Peak Is likely In 

Bay Area Home Prices Continue Slide, Peak Is likely In 

Mainstream financial media drummed up a narrative in 1H19 about how this summer’s tech IPOs would lead to overnight millionaires across the Bay Area, and in return, would produce the next leg up in the region’s real estate market.

The economic narrative never gained traction, partly because of the IPO market imploded. New issues like Lyft and Uber have seen shares nearly halved in the last six months, leaving many investors underwater.

As for the IPO market pumping out overnight millionaires, well, that remains to be seen as the Bay Area real estate market continues to deteriorate, with expectations of a further plunge in 1H20.

The Bay Area median sales price in September for an existing home, across nine-counties including Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano, and Sonoma, plunged 4.7% YoY to $810,000, according to real estate data firm CoreLogic.

Bay Area home prices are some of the most expensive in the country and might have put in a cyclical peak in 2019.

“I think the immediate trigger a year ago was the run-up in mortgage rates,” said Dr. Frank Nothaft, a chief economist at CoreLogic.

“Mortgage rates got posted about 5% a year ago, and that put up a chill on all potential buyers in the market place. When mortgage rates go up, that means the monthly mortgage payment is just taking that much bigger of a bite from family income.”

San Jose-based realtor Holly Barr told NBC Bay Area that prices have been slipping for more than a year. Barr noted that price growth has stalled in the last several years, likely marking the top of the market.

“If you look at the trend over the last two years, it’s definitely come down,” she said.

The region has seen YoY sale price declines in the last several months as the slowdown continues to worsen. This recent period of waning demand comes after seven years of rapid price growth.

Agents overwhelmingly said buyers have been on the sidelines waiting for the right deal. Many wanted to avoid a bidding war and needed prices to correct further before they entered offers.

Some buyers were concerned about a late 2020 recession, trade war uncertainties, and the threat of a corporate debt bubble implosion.

The S&P CoreLogic Case-Shiller San Francisco Home Price Index has likely peaked in a double top fashion.

The Federal Reserve usually embarks on an interest rate cut cycle in preparation for macroeconomic headwinds developing in the economy that eventually damages the housing market.

As shown below, the Case-Shiller San Francisco Home Price Index tends to fall in a cut cycle.

Bay Area home prices will continue to weaken through 1H20. At what point do millennial homeowners, most of whom bought the top of the market, panic sell into a down market? 


Tyler Durden

Mon, 11/11/2019 – 21:25

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Citing “Gun Violence”, UVA Cancels 21-Gun-Salute Portion Of Veterans Day Ceremony

Citing “Gun Violence”, UVA Cancels 21-Gun-Salute Portion Of Veterans Day Ceremony

Authored by Jennifer Kabbany via The College Fix,

Citing “gun violence,” the University of Virginia has canceled the 21-gun salute portion of its Veterans Day ceremony, an annual tradition that dates back at least a decade.

In a statement posted to social media on Saturday, university President James Ryan stated the reason was two-fold:

to minimize disruptions to classes, given that this event is located at the juncture of four primary academic buildings and is held at a time that classes are in session; and second, recognizing concerns related to firing weapons on the Grounds in light of gun violence that has happened across our nation, especially on school and university campuses.”

According to the local ABC news affiliate WHSV, the annual ceremony “marks the conclusion of a 24-hour vigil by ROTC cadets and has included the 21-gun salute for more than a decade,” but the decision to nix the salute was made by the provost’s office in conjunction with the colonel of UVA’s ROTC program.

Backlash has been so severe Ryan said the university will revisit the issue in 2020.

“[C]ommunity responses have helped us to understand that many see the 21-gun salute as an important element of the Veterans Day ceremony at the University of Virginia. Given that the plans are already in place for this year, we will follow the event organizers’ recommendation to proceed without the 21-gun salute in our Veterans Day Ceremony. Following this year’s ceremony, however, we will work with our ROTC officers and cadets to take a closer look at options for our Veterans Day events, including those that would enable us to re-introduce the 21-gun salute to the program,” Ryan stated.

According to media outlets in Virginia, the decision prompted anger. The Daily Progress, the newspaper in Charlottesville, Virginia, published several letters to the editor lambasting the decision.

One letter argued that the decision disrespected the fact that the university’s rotunda hosts plaques honoring hundreds of alumni slain in previous wars. Another argued “veterans deserve better.”

The decision also sent “an unfortunate message about students: That they are too fragile, too delicate, too distractible to deal with the ‘interruption’ of the salute. That they are too insular, too wrapped up in their own worlds to comprehend and accept this longstanding practice. That they must be protected from the reality that exists outside academia,” another letter writer chimed in.

Some Twitter users responding to Ryan’s statement were a little more blunt. Among them: “How ‘we’ reached the decision? The buck stops with you. Score one for the snowflakes.”

Tweeted another: “As a @UVA #UVA student veteran, thank you for marginalizing my community. That is a direct, unmitigated slap in the face to those of us who have served, and especially to those of us who have served and lost. I am deeply sorry that you decided to make this incorrect decision.”

However Ryan garnered some support, too, with one replying “people forget that rampant mass shootings are commonplace now, so it makes sense not to be firing off guns near classrooms,” and another noting that “as a long-ago alumna, I want you to know how much you continue to impress. You do our university and your role proud.”


Tyler Durden

Mon, 11/11/2019 – 21:05

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President Xi Reiterates Combat-Readiness, Says Army Needs to Be “Powerful As Tigers”

President Xi Reiterates Combat-Readiness, Says Army Needs to Be “Powerful As Tigers”

Chinese President Xi Jinping recognizes that the so-called trade war between the US has very little to do with trade; it has more to do with the US attempting to squash China as a rising power. 

PLA Daily reported on Monday that President Xi told a Central Military Committee (CMC) conference on the People’s Liberation Army’s (PLA) armed forces that it must be combat-ready and adjust to a world of rising volatility.

“The grass-roots level of the military is experiencing new conditions and changes in its mission, construction, daily operation, unit structure, personnel composition, and social environment,” President Xi, the CMC’s chairman, said.  

President Xi said all PLA ranks must be ready for combat, even lower-ranked units. 

“Our commanders and soldiers should be courageous, and our troops should be powerful as tigers,” he added.

In the last five years, President Xi has led a massive military modernization effort across the PLA. He has guaranteed the immediate deployment of new military weapons, like fifth-generation fighters, modern warships, laser weapons, railguns, stealth drones, and hypersonic missiles.

He said the modernization effort has led to increased combat-readiness and a strengthened military. 

President Xi had previously said China was “confronted with unpredictable international developments and a complicated and sensitive external environment” and said PLA forces are ready to answer the call to fight at any given moment.

China’s increased combat-readiness is mostly due to the US attempting to prevent it from being a major superpower. 

By 2025-2030, China’s economic, industrial, technological, and military achievements are likely to displace the US as a global superpower. 

China’s defense budget, the second largest in the world, could outpace the US by 2030

China is modernizing its military and preparing for a fight against the US. 

Both China and the US have fallen into Thucydides Trap, one where the rising power (China), challenges the status quo power (the US), usually results in a shooting war. 


Tyler Durden

Mon, 11/11/2019 – 20:45

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Are You Ready For A Catastrophically Cold Winter? Here’s What The Mainstream Media Won’t Tell You…

Are You Ready For A Catastrophically Cold Winter? Here’s What The Mainstream Media Won’t Tell You…

Authored by Michael Snyder via TheMostImportantNews.com,

Experts are warning us that this will be a “freezing, frigid, and frosty” winter, and even though the official beginning of winter is still over a month away, it already feels like that in much of the country right now.

Over the next several days, it will literally feel like it is mid-January in much of the central and eastern portions of the United States. Many areas will be hit by temperatures that are 30 degrees below normal, and heavy snow is expected in some areas of the Midwest. Unfortunately, this bitterly cold weather is coming at a very bad time for corn farmers. According to the latest USDA crop progress report, only 52 percent of the corn in the middle of the country has been harvested. So about half of the corn is still sitting out there, and these extraordinarily low temperatures could potentially be absolutely devastating. In essence, this cold front threatens to put an exclamation point on an absolutely horrific year for U.S. farmers. According to the National Weather Service, we could possibly see “170 potential daily record cold high temperatures” over the next three days

“The National Weather Service is forecasting 170 potential daily record cold high temperatures Monday to Wednesday,” tweeted Weather Channel meteorologist Jonathan Erdman. “A little taste of January in November.”

The temperature nosedive will be a three-day process as a cold front charges across the central and eastern U.S. from Sunday into Tuesday.

We are being told that low temperatures in certain portions of Texas could plunge into the teens, and all across the Upper Midwest we could see low temperatures that are well below zero.

Of course this is not the first wave of record cold weather to come rolling through this season. During the month of October, a couple of major blizzards roared through the Midwest and countless new cold temperature records were established.

And unfortunately we should expect a lot more bitter weather in the months ahead. Both the Farmers’ Almanac and the Old Farmer’s Almanac are projecting that this upcoming winter will be unusually cold and snowy

Not long after the Farmers’ Almanac suggested it would be a “freezing, frigid, and frosty” season, the *other* Farmer’s Almanac has released its annual weather forecast—and it’s equally upsetting.

While the first publication focused on the cold temperatures anticipated this winter, the Old Farmer’s Almanac predicts that excessive snowfall will be the most noteworthy part of the season.

The Old Farmer’s Almanac, which was founded in 1792, says that the upcoming winter “will be remembered for strong storms” featuring heavy rain, sleet, and a lot of snow. The periodical actually used the word “snow-verload” to describe the conditions we can expect in the coming months.

So why is this happening?

It is actually quite simple.

During a solar minimum, solar activity drops to very low levels, and that tends to mean lower temperatures on Earth.

Earlier this year, a panel of experts gathered to discuss the current solar minimum, and they came to the conclusion that it “could last for years”

If you like solar minimum, good news: It could last for years. That was one of the predictions issued last week by an international panel of experts who gathered at NOAA’s annual Space Weather Workshop to forecast the next solar cycle. If the panel is correct, already-low sunspot counts will reach a nadir sometime between July 2019 and Sept 2020, followed by a slow recovery toward a new Solar Maximum in 2023-2026.

“We expect Solar Cycle 25 will be very similar to Cycle 24: another fairly weak maximum, preceded by a long, deep minimum,” says panel co-chair Lisa Upton, a solar physicist with Space Systems Research Corp.

But that would actually be a best case scenario.

There are others that believe that we have now entered a “grand solar minimum” such as the one that our planet experienced several hundred years ago. That one was known as “the Maunder Minimum”, and it resulted in a “little ice age”

The extreme example happened between 1645 and 1715 when the normal 11-year sunspot cycle vanished. This period, called the Maunder Minimum, was accompanied by bitterly cold winters in the American colonies. Fishing settlements in Iceland and Greenland were abandoned. Icebergs were seen near the English channel. The canals of Venice froze. It was a time of great hardship.

Ultimately, the longer winters and shorter summers during the “Maunder Minimum” resulted in famine all over the globe, and multitudes ended up perishing

The Maunder Minimum is the most famous cold period of the Little Ice Age. Temperatures plummeted in Europe (Figs. 14.3–14.7), the growing season became shorter by more than a month, the number of snowy days increased from a few to 20–30, the ground froze to several feet, alpine glaciers advanced all over the world, glaciers in the Swiss Alps encroached on farms and buried villages, tree-lines in the Alps dropped, sea ports were blocked by sea ice that surrounded Iceland and Holland for about 20 miles, wine grape harvests diminished, and cereal grain harvests failed, leading to mass famines (Fagan, 2007). The Thames River and canals and rivers of the Netherlands froze over during the winter (Fig. 14.3). The population of Iceland decreased by about half. In parts of China, warm-weather crops that had been grown for centuries were abandoned. In North America, early European settlers experienced exceptionally severe winters.

So far in 2019, there have been more than 200 days without a single sunspot on the sun.

We do not know when solar activity will return to normal, but for now we should all prepare for a bitterly cold winter.

Beyond that, we had better hope that we have not entered another “Maunder Minimum”, because right now we are struggling to feed everyone on the planet even in the best of years.

Despite all of our advanced technology, we remain deeply dependent on the weather. Even a year or two of bad harvests could potentially be absolutely catastrophic, and the mainstream media will not tell us the truth until it is way too late to do anything about it.


Tyler Durden

Mon, 11/11/2019 – 20:25

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CLO Slump Sparks Warning: “There’s More Volatility Coming”

CLO Slump Sparks Warning: “There’s More Volatility Coming”

It’s not just The Fed’s short-term liquidity pipes that are clogged up, there appears to be some issues in the loan market, signaled by sharp declines in the $680 billion market for collateralized loan obligations (CLO), which could be an early warning sign that the junk bond market is headed for trouble. 

As President Trump pumps fake trade news, causing the ‘Mother Of All Short Squeezes’ in equity indexes to new highs, the CLO market in October fell 5%.

Source: Bloomberg

The rare decline in the CLO market was a result of the increasing uncertainties surrounding an economic slowdown.

S&P Global Market Intelligence data shows the CLO market has grown by $350 billion in the last three years, now stands at $680 billion, yield chasing investors mostly fueled the increase. 

“We think there’s more volatility coming,” said Maggie Wang, head of US CLO strategy at Citigroup, who spoke The Wall Street Journal.

“We recommend investors reduce risk and stay with cleaner portfolios and better managers.”

This late in the cycle, a plunge in CLO bond prices with equities in parabolic up moves indicates something is wrong. 

The CLO tranches that are experiencing the most stress are in the double-B tranche. These risky CLO securities netted investors 10% through June. But through the end of October, most of the gains were wiped out. 

“If you think that double-B CLOs are giving a warning sign, that says something about high yield,” said David Preston, head of CLO research at Wells Fargo & Co. “It’s hard to see how both markets can be right.”

Data from Palmer Square Capital Management shows Double-B CLO bond yields are about five percentage points higher than the yield of comparably rated junk bonds. 

“The yield differential hasn’t been this wide since early 2016, when dropping oil prices sparked a selloff in both leveraged loans and high-yield bonds,” The Journal noted. 

Between the chaos in the repo markets, now tamped down by the promise of endless liquidity from NYFRB, and the ongoing scare in the critical-for-junk-demand CLO market, some fear the end of the year could bring a notably negative surprise. 

None other than Credit Suisse’s Zoltan Pozsar (the main in charge of market intelligence for securitized credit markets for The Fed in 2008) has a warning…

“There is a very real chance that, if we don’t have a better set of pipes from the Fed and a more aggressive QE, then you have a very, very problematic year-end turn.”

But for now, record-high stocks and trade-deal optimism are all that matters, right?


Tyler Durden

Mon, 11/11/2019 – 20:05

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Rediscovering America: A Quiz For Veterans Day

Rediscovering America: A Quiz For Veterans Day

Authored by David Tucker via InsideSources.com,

Today is Veterans Day, which has been observed under its current name since 1954 and honors all American veterans.

The quiz below, from the Ashbrook Center at Ashland University, Ashland, Ohio, provides an opportunity for you to test your knowledge of this national holiday, its origins, and the role of veterans in our national life.

1. Before 1954, the American holiday honoring veterans was called what?

A: Flag Day

B: Armed Forces Day

C: Armistice Day

D: Memorial Day

2. November 11 was chosen for what reason?

A: Fighting during World War I officially ceased

B: Treaty of Versailles was signed

C: Uniform Holiday Bill designated the date

D: Official ceremony unveiling the Tomb of the Unknown Soldier took place

3. According to U.S. Department of Veterans Affairs estimates, there were how many living veterans in the United States as of September 30, 2018?

A: 8.3 million

B: 11.1 million

C: 14.3 million

D: 19.6 million

4. Approximately how many of these veterans served during World War II?

A: 350,000

B: 500,000

C: 1 million

D: 3.5 million

5. As early as 1789, the federal government began providing what benefit to veterans?

A: Health care

B: Pensions

C:  Education

D: Burials in national cemeteries

6. Which president signed legislation making the Veterans Administration the Department of Veterans Affairs, giving it official Cabinet status?

A: Herbert Hoover

B: Franklin D. Roosevelt

C: Dwight D. Eisenhower

D: Ronald Reagan

7. All of the following countries honor veterans on November 11 except this country?

A: Italy

B: France

C: Canada

D: Belgium

8. According to the most recent data available, approximately what percentage of veterans are women?

A: 3 percent

B: 6 percent

C: 9 percent

D: 14 percent

9. Which president said the following of Veterans Day: “On that day let us solemnly remember the sacrifices of all those who fought so valiantly, on the seas, in the air, and on foreign shores, to preserve our heritage of freedom, and let us reconsecrate ourselves to the task of promoting and enduring peace so that their efforts shall not have been in vain.”

A: Dwight D. Eisenhower

B: Lyndon Johnson

C: George H.W. Bush

D: George W. Bush

10. Which of the following celebrities is not a veteran?

A: Ice-T

B: Robert Redford

C: Chuck Norris

D: Gary Sinise

*  *  *

ANSWERS

1-C; 2-A; 3-D; 4-B; 5-B; 6-D; 7-A; 8-C; 9-A; 10-B.


Tyler Durden

Mon, 11/11/2019 – 19:45

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Syria (Summed Up In One Iconic Photo)

Syria (Summed Up In One Iconic Photo)

As Ömer Özkizilcik writes alongside this somewhat iconic photo, “Russian and American troops crossing each other’s route in northeast Syria.”

We wonder what messages were exchanged as the two entities crossed each other…

All yours (except for the oil)…”

 

“…tag, you’re it!


Tyler Durden

Mon, 11/11/2019 – 19:25

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How To Spend $45,000 On A $27,000 Car

How To Spend $45,000 On A $27,000 Car

Authored by Mike Shedlock via MishTalk,

As cars become more expensive, and trade-ins worth less and less, buyers go deeper in debt on new cars.

Please consider taking a $45,000 Loan for a $27,000 Ride.

Consumers, salespeople and lenders are treating cars a lot like houses during the last financial crisis: by piling on debt to such a degree that it often exceeds the car’s value. This phenomenon—referred to as negative equity, or being underwater—can leave car owners trapped.

Some 33% of people who traded in cars to buy new ones in the first nine months of 2019 had negative equity, compared with 28% five years ago and 19% a decade ago, according to car-shopping site Edmunds.

Easy lending standards are perpetuating the cycle, with lenders routinely making car loans with low or no down payments that can last seven years or longer.

Borrowers are responsible for paying their remaining debt even after they get rid of the vehicle tied to it. When subsequently buying another car, they can roll this old debt into a new loan. The lender that originates the new loan typically pays off the old lender, and the consumer then owes the balance from both cars to the new lender. The transactions are often encouraged by dealerships, which now make more money on arranging financing than on selling cars.

“These aren’t Rolls-Royces,” said David Goldsmith, a lawyer who defends consumers in auto cases. “They’re Ford Escapes.”

Some 5.2% of outstanding securitized subprime auto-loan balances were at least 60 days past due on a rolling 12-month average during the period ending in June, up from 4.8% the year before and 4.9% two years before, according to Fitch Ratings.

Examples to Consider

The Journal cited the case of Mr. John Schricker who kept rolling over loans to the point that it took a $45,000 loan from Ally Financial Inc. to buy a $27,000 Jeep Cherokee.

Also consider the case of Yolanda Finley. She bought a bought a used 2011 Chevy Traverse with a loan of $25,585 from Santander Consumer USA Holdings Inc. in 2014. Finley could not afford the payment. Her car was repossessed. She now owes $27,000 on a car she does not even have.

Nicole-Malia Tennent and Shyanne Fernandez, both in their early 20s, wanted to trade in the car they shared for something less expensive last year. Instead they splurged on a new 2018 GMC Sierra truck, moving the unpaid loan balance of $12,500 into a new loan. The new loan balance is over $66,000. The old loan payment was $500. The new loan payment (I presume for longer), is $900.

What the hell do two friends need a $66,000 truck for? How will they allot the time between them?

This is how crazy it’s gotten.

Three personal anecdotes don’t constitute data but other evidence suggests the problem is widespread.

Car Dealers Make More Profit On Loans Than Selling Cars

A third of auto loans in 2019 had a term period over six years. People cannot afford the cars they are buying.

For discussion, please see Car Dealers Make More Profit On Loans Than Selling Cars

Families Go Deep in Debt to Stay Middle Class

On September 9, I noted Families Go Deep in Debt to Stay Middle Class: Revolving Credit Jumps 11.2%

These are all signs of a “Late Stage Credit Bubble

Ability to buy things one cannot really afford does not make or keep someone in the “middle class“.

Wages are not keeping up with needs and desires.

Collectively, these reports show a late stage credit bubble the Fed desperately wants to keep inflating.


Tyler Durden

Mon, 11/11/2019 – 19:05

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Trump To Release “Tantalizing” Transcript Of First Ukraine Call This Week

Trump To Release “Tantalizing” Transcript Of First Ukraine Call This Week

As the long-awaited ‘public’ impeachment hearings loom – seemingly to discuss the opinions of various leftists about the actual words that Trump and Ukraine’s president spoke according to the actual transcript – it appears President Trump has another ace up his sleeve.

As he hinted at on Friday, the president just confirmed by tweet that he will release the transcript of the “most important” first call with the President of Ukraine this week

President Trump was not done, however, as he took aim once again at Rep. Schiff…

Grab your popcorn, it’s going to be a fun week.


Tyler Durden

Mon, 11/11/2019 – 18:49

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