Tag Archives: debt

(1133) Car town


Here in the Greater Toronto Area it feels like the real estate bubble will never burst.  Prices swell and then swell some more.  Equity flows – as if up through the very drains in the monster home basements – to enrich the fortunate homeowner.
An unavoidable parallel to this frenzy is found in automotive finance.  Where you have sprawl, you have cars, natch.
Is there an auto bubble on the horizon?
macleans.ca
Canadians getting lured onto auto debt treadmill by signing on to long term car loans
financialpost.com
What comes after the auto bubble?
frontiergroup.org
What’s happening with subprime auto loans?
visualcapitalist.com
‘Deep subprime’ auto loans are surging
bloomberg.com
image: Heather Philips via Flickr/CC

(938) US student debt racket

jailWithin the vast net of financial scams and debt-based swindles that compose much of the source code underlying modern American life is an education-related indenture of $1.3 trillion.  This generational thrashing is the stuff of revolutions, surely.  Is there not a single history degree out there in the hands of the direly mortgaged young Americans?  Education was supposed to be one of the things motorizing the new economy.
Wasn’t it?
Stop paying your student loans and debt collectors can send US Marshalls to arrest you
boingboing.net
The feds are now arresting people for not paying their student loans
vice.com

(899) Debt, debt collection & African Americans

ppbDebt, poverty’s nasty sibling, is the topic of an ongoing series in US magazine ProPublica.  In part four, linked below, the effect of debt and debt collection on African Americans is examined.  A particular suburban field-of-dreams is mentioned.

Why small debts matter so much to black lives. Due to the racial wealth gap, black families have far less in savings than whites. The consequences can be far-reaching and often severe