Subprime Mortgages Are Back, Just Like the '08 Crisis
Newsweek warns us that subprime mortgages are once again expanding, leading to a gentle, concerned pat on the head for an economy determined to repeat its greatest hits. What the media often skips is the 'why'—who profits from financial instability, and whose regulations were stripped bare to make this possible? (Remember the bipartisan push to gut Dodd-Frank? We do.) It appears we're preparing
for another round of economic musical chairs, where the banks always seem to find a seat, while the working class gets left holding the bag. One might almost suspect a pattern, if one believed in such wild conspiracies as profit motives driving policy. Perhaps this time they'll call it a 'soft landing' for your equity.