April 1, 2014

DEBT-INFLATED FALSE PROSPERITY: Easier Loans: Haven’t We Seen This Movie Before?

Here are words that would warm the cockles of any financial reporter’s heart: “It’s easier to get a loan these days for a new home or new car than it’s been in five years.”

I mean, the financial crisis may have been hell on the rest of y’all, but for business journalists, it was the Full Employment for Reporters Program.

OK, so maybe we’re not headed into “Financial Crisis II: The Legend Returns.” But given all the damage done by loose loan standards, I think this is worth some heavy eyebrow-knitting.

It’s also worth thinking about the secondary effects.

Is the Fed?